Royal Gold Inc

RGLD · Nasdaq · Digital Financial Platform · SIC 6795 Mineral Royalty Traders

Engine v1.1.0 · live data

Filings through Jun 30, 2026 · 10-Q filed Aug 6, 2026

Price as of Sep 16, 2026 · USD

Valuation method: Price / Earnings · peer median 26.1× (+8%)

Revenue (TTM)

$1.5B

Net income (TTM)

$738.0M

Operating cash flow (TTM)

$1.0B

Cash & short-term investments

$182.5M

Total debt

$395.9M

Shareholders' equity

$7.6B

Market capitalization

$20.8B

Price / Earnings

28.2×

METHODOLOGY GATE — EARNINGS-BASED VALUATION

Balance-sheet-driven financial business: interest and customer funds are part of operations, so EV/EBITDA is not meaningful. Token Clear models net income and P/E sensitivity instead.

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Opportunity Detection · MultiStrategy™

5 pathways detected from Royal Gold Inc's own filings

Each pathway fires only when the company's evidence supports it. Scores are deterministic; component scores are shown, the weights stay server-side.

#1NOWDigital Treasury·Treasury & Capital Strategy·5X: Treasury Value

Treasury Optimization — Excess Liquidity

Royal Gold Inc holds $182.5M of cash and short-term investments against an operating reserve of $154.7M (10% of TTM revenue). A tiered treasury policy on the $27.8M above reserve can raise yield without reducing liquidity coverage.

Annual economics

$138.8K–$416.4K

SCENARIO

$27.8M excess cash × 0.5%–1.5% yield uplift

Evidence that triggered it

Cash & short-term investments$182.5M
Cash & equivalents$182.5M
Revenue (TTM)$1.5B

Assumptions (challenge these)

Operating reserve (share of revenue)10.0%ASSUMPTION
Yield uplift on excess cash0.5%–1.5%ASSUMPTION
Yield uplift on already-invested short-term investments0.1%–0.3%ASSUMPTION

Score components

Economic impact1
Feasibility88
Time to value100
Capital efficiency90
Strategic fit85
Evidence strength100

Capital required: None material
Time to value: 3 months
Execution complexity: Low
Regulatory complexity: Low

HUMAN APPROVAL GATE

DRAFT

Activation is locked until this pathway is reviewed and approved.

#2NEXTDigital Asset Subscription & Settlement·Payments & Financial Infrastructure·5X: Enterprise Value

Programmable Payments & Settlement

Programmable payments and settlement on $1.5B of revenue can reduce payment cost and open new settlement revenue.

Annual economics

$3.1M–$7.7M

SCENARIO

$1.5B revenue × 0.20%–0.50%

Evidence that triggered it

Revenue (TTM)$1.5B

Assumptions (challenge these)

EBITDA impact (share of revenue)0.2%–0.5%ASSUMPTION

Score components

Economic impact21
Feasibility60
Time to value70
Capital efficiency90
Strategic fit85
Evidence strength100

Capital required: None material
Time to value: 9 months
Execution complexity: Medium
Regulatory complexity: Medium

Blockers & dependencies

Money-transmission, stablecoin and banking-partner requirements vary by jurisdiction.

HUMAN APPROVAL GATE

DRAFT

Activation is locked until this pathway is reviewed and approved.

#3NEXTCapital Formation·Treasury & Capital Strategy·5X: Capital Value

Capital Allocation Engine — Buybacks vs. M&A vs. Deleveraging

Free cash flow yield is 5.0% ($1.0B on a $20.8B market cap) versus a 4.9% implied cost of debt and 9.6% ROIC (peer median 4.6%). At this yield, repurchases, deleveraging and acquisitions compete for the same dollar; Token Clear ranks each use of cash on modeled per-share value and risk rather than defaulting to one answer.

Sizing

Not modeled

ASSUMPTION

Per-share accretion and risk reduction — not counted toward enterprise value

Evidence that triggered it

Free cash flow (TTM)$1.0B
Market capitalization$20.8B
Return on invested capital9.6%
Implied cost of debt4.9%

Score components

Economic impact15
Feasibility88
Time to value100
Capital efficiency40
Strategic fit55
Evidence strength83

Capital required: None material
Time to value: 3 months
Execution complexity: Low
Regulatory complexity: Low

HUMAN APPROVAL GATE

DRAFT

Activation is locked until this pathway is reviewed and approved.

#4NEXTDigital Treasury·Treasury & Capital Strategy·5X: Treasury Value

Reserve Diversification Policy (Digital Assets)

A board-approved policy could allocate 0.5%–2.0% of the $27.8M excess liquidity to digital-asset reserves tied to the settlement and custody products the business already runs. Returns are price-dependent and are not modeled.

Sizing

Not modeled

ASSUMPTION

Returns not modeled — Token Clear does not forecast asset prices

Evidence that triggered it

Cash & short-term investments$182.5M

Assumptions (challenge these)

Allocation of excess liquidity0.5%–2.0%ASSUMPTION

Score components

Economic impact15
Feasibility60
Time to value85
Capital efficiency40
Strategic fit85
Evidence strength100

Capital required: $138.8K
Time to value: 6 months
Execution complexity: Medium
Regulatory complexity: Medium

Blockers & dependencies

Accounting, custody and board risk-appetite approval required.

HUMAN APPROVAL GATE

DRAFT

Activation is locked until this pathway is reviewed and approved.

#5NEXTData & Intelligence·Data & AI Monetization·5X: Enterprise Value

Data & AI Products

Proprietary transaction, usage and customer data across $1.5B of revenue can be packaged into permissioned benchmarking, risk and AI products for customers and partners.

Annual economics

$928.2K–$3.7M

SCENARIO

$1.5B × 0.1%–0.4% new revenue × 60% margin

Evidence that triggered it

Revenue (TTM)$1.5B

Assumptions (challenge these)

New data revenue (share of revenue)0.1%–0.4%ASSUMPTION
Margin on data products60.0%ASSUMPTION

Score components

Economic impact10
Feasibility60
Time to value55
Capital efficiency90
Strategic fit75
Evidence strength100

Capital required: None material
Time to value: 12 months
Execution complexity: Medium
Regulatory complexity: Medium

Blockers & dependencies

Data rights, privacy and customer consent.

HUMAN APPROVAL GATE

DRAFT

Activation is locked until this pathway is reviewed and approved.

Token Clear is modeling the enterprise…

First run for a company pulls filings live from SEC EDGAR. Subsequent loads are cached.

1Resolving issuer on SEC EDGAR
2Building Company Graph™ from XBRL filings
3Pulling market data and live peer set
4Detecting opportunities and scoring MultiStrategy™
5Running deterministic scenarios