Gold was Royal Gold’s largest segment in fiscal 2025, bringing in $547.87M of $715.49M (77%).
| Segment | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Gold | $308.30M | $307.80M | $367.49M | $547.87M | ||
| Silver | $50.59M | $64.85M | $66.81M | $92.38M | ||
| Copper | $58.90M | $45.63M | $48.99M | $44.25M | ||
| Other | $25.69M | $12.76M | $22.74M | $30.99M | ||
| Total | $443.48M | $431.04M | $506.03M | $715.49M |
Royal Gold brought in $715.49M from its four segments in fiscal 2025, the year ended December 31, 2025. That is less than the $807.72M it reports by real estate and accumulated depreciation description of property, so these segments do not cover all of its revenue. Gold was the largest at $547.87M (76.6%), ahead of Silver at $92.38M (12.9%) and Copper at $44.25M (6.2%). The remaining segment, Other, brought in $30.99M.
Compared with fiscal 2024, Gold grew fastest, up 49.1% to $547.87M, while Copper fell the most, down 9.7% to $44.25M.
Other was Royal Gold’s largest revenue line in fiscal 2025, bringing in $276.46M of $807.72M (34%).
| Real Estate And Accumulated Depreciation Description Of Property | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|
| Mt. Milligan | $180.54M | $158.17M | $186.04M | $223.71M | ||
| Mount Milligan | — | — | — | — | ||
| Other | — | $134.95M | $166.67M | $276.46M | ||
| Other Interest | $134.85M | — | — | — | ||
| Pueblo Viejo | $85.86M | $76.25M | $83.06M | $129.83M | ||
| Andacollo | $47.35M | $48.92M | $47.53M | $77.90M | ||
| Cortez Legacy Zone | $47.77M | $79.92M | $58.18M | $31.82M | ||
| Kansanshi | — | — | — | $32.28M | ||
| Penasquito | — | — | — | — | ||
| Wassa | — | — | — | — | ||
| Cortez Cc Zone | $2.79M | $14.63M | $11.61M | $35.72M | ||
| Cortez | — | — | — | — | ||
| Total | $499.17M | $512.83M | $553.09M | $807.72M |
Royal Gold brought in $807.72M from its seven revenue lines in fiscal 2025, the year ended December 31, 2025. Royal Gold regrouped these revenue lines after fiscal 2024, so the total does not compare directly with that year's $553.09M. Other was the largest at $276.46M (34.2%), ahead of Mt. Milligan at $223.71M (27.7%) and Pueblo Viejo at $129.83M (16.1%). The other four revenue lines brought in $177.71M combined.
Compared with fiscal 2024, Cortez Cc Zone grew fastest, up 207.6% to $35.72M, while Cortez Legacy Zone fell the most, down 45.3% to $31.82M.
Royal Gold began breaking out Kansanshi in fiscal 2025, when it brought in $32.28M. Royal Gold stopped reporting Other Interest as a separate revenue line after fiscal 2022, when it brought in $134.85M.
North America was Royal Gold’s largest region in fiscal 2025, bringing in $440.74M of $725.81M (61%).
| Geography | FY 2017 | FY 2018 | FY 2019 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| North America | — | $273.21M | $314.86M | $440.74M | ||||
| Canada | $212.37M | — | — | — | ||||
| Emea | — | $70.76M | $82.13M | $137.28M | ||||
| Dominican Republic | $85.86M | — | — | — | ||||
| South & Central America | — | $74.32M | $86.30M | $107.44M | ||||
| Chile | $47.35M | — | — | — | ||||
| United States | $81.64M | — | — | — | ||||
| Mexico | $52.39M | — | — | — | ||||
| Africa | $53.79M | — | — | — | ||||
| Australia Pacific | — | $19.01M | $28.97M | $40.35M | ||||
| Australia | $15.67M | — | — | — | ||||
| Rest Of World | $18.43M | — | — | — | ||||
| Other | — | — | — | — | ||||
| Total | $567.50M | $437.29M | $512.26M | $725.81M |
Royal Gold brought in $725.81M from its four regions in fiscal 2025, the year ended December 31, 2025. That is less than the $807.72M it reports by real estate and accumulated depreciation description of property, so these regions do not cover all of its revenue. North America was the largest at $440.74M (60.7%), ahead of Emea at $137.28M (18.9%) and South & Central America at $107.44M (14.8%). The remaining region, Australia Pacific, brought in $40.35M.
Compared with fiscal 2024, Emea grew fastest, up 67.1% to $137.28M. Every region above 2% of revenue grew.
Royal Gold began breaking out North America in fiscal 2023, Emea in fiscal 2023, South & Central America in fiscal 2023 and Australia Pacific in fiscal 2023. Royal Gold stopped reporting Canada ($212.37M in fiscal 2022), Dominican Republic ($85.86M in fiscal 2022), United States ($81.64M in fiscal 2022) and five others as separate regions.
Royal Gold (RGLD) reports its revenue by segment, by real estate and accumulated depreciation description of property and by geography. In fiscal 2025, Gold was its largest segment, bringing in $547.87M (76.6% of the total), followed by Silver at $92.38M (12.9%).
Gold was Royal Gold's largest segment in fiscal 2025, bringing in $547.87M, or 76.6% of the $715.49M total across its four segments.
Other was Royal Gold's largest revenue line in fiscal 2025, bringing in $276.46M, or 34.2% of the $807.72M total across its seven revenue lines.
North America was Royal Gold's largest region in fiscal 2025, bringing in $440.74M, or 60.7% of the $725.81M total across its four regions.
Among Royal Gold's segments that make up at least 2% of revenue, Gold grew fastest in fiscal 2025, up 49.1% from $367.49M to $547.87M.
Every figure comes from Royal Gold's annual financial filings, as reported. Each line keeps the name Royal Gold gives it, and years follow its fiscal calendar.
Royal Gold's revenue by segment goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.