Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests in North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific. It operates through Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments. The company engages in the acquisition of existing stream and …
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Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 69.3% (top 14%) and operating margin at 61.9% (top 7%) indicate strong pricing power.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.94), demonstrating pricing resilience across cycles.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Royal Gold, Inc. ranks #9 of 49
scored companies in Gold by moat score — the top 18%.
The widest moat in the group is Agnico Eagle Mines Limited (AEM)
at 78/100.
Moat scores for companies ranked near RGLD in Gold
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 74
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 69
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 59
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 52
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 71
· 15% of the moat score
Scale matters only when it converts into economics.
Royal Gold, Inc. (RGLD) scores 70 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #9 of 49 scored companies in Gold, the top 18%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 48 companies in Gold. Its strongest defense is Pricing Power (91/100) and its weakest is Resilience (52/100).
How does Royal Gold, Inc. compare with other Gold companies?
Royal Gold, Inc. ranks #9 of 49 scored companies in Gold by moat score. The widest moat in Gold is Agnico Eagle Mines Limited (AEM) at 78/100. The companies ranked closest are Newmont Corporation (NEM) at 71 just above it and Kinross Gold Corporation (KGC) at 70 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 48 companies in Gold. The defenses are then weighted to produce the overall score out of 100.
Why is Royal Gold, Inc. scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Royal Gold, Inc.?
The Corporate Default template measures 6 defenses, and RGLD scores: Pricing Power (91), Cost Advantage (74), Customer Stickiness (69), Capital Efficiency (59), Resilience (52), Scale & Market Position (71). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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