GROY
Gold Royalty Corp.
GROY's fundamentals are strong: revenue grew 82% and its operating margin went from −15% to 23%, though free cash flow turned negative. Its PE isn't a useful guide right now because of how its recent earnings were reported.
GROY Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Weak | |
| Strong |
GROY's revenue, profitability and balance sheet are currently strong, but its cash flow is weak.
GROY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 36x | $2.94 | — |
| Cheap | 420x | $4.20 | +43% |
| Fair | 445x | $4.45 | +51% |
| Current | 445x | $2.94 | — |
| Expensive | 458x | $4.58 | +56% |
Historical ranges are pointers, not guarantees.
GROY's PE is 445x, but its earnings don't support one, so it isn't a reliable read right now.
GROY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for GROY, with profitability improving.
GROY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.08 | +714% |
| Q2 2026 | $0.01 | +$0.02 |
| Q1 2026 | -$0.01 | +$0.01 |
| Q4 2025 | -$0.03 | -$0.01 |
| Q3 2025 | -$0.04 | +$0.10 |
| Q2 2025 | -$0.01 | +$0.16 |
| Q1 2025 | -$0.02 | +$0.16 |
| Q4 2024 | -$0.02 | +$0.17 |
| Q3 2024 | -$0.14 | -$0.07 |
GROY has returned to profit: it earned $0.01 per share over the past year, after losing money the year before. Its recent earnings include one-off gains.
GROY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $6.7M | +76% |
| Q1 2026 | $7.2M | +129% |
| Q4 2025 | $4.5M | +34% |
| Q3 2025 | $4.1M | +101% |
| Q2 2025 | $3.8M | +113% |
| Q1 2025 | $3.1M | +8.4% |
| Q4 2024 | $3.4M | +230% |
| Q3 2024 | $2.1M | +158% |
GROY's revenue has grown year over year for 11 quarters in a row: $7M last quarter, up 76% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 28% | +11 points |
| Q1 2026 | 37% | +25 points |
| Q4 2025 | 2.3% | +62 points |
| Q3 2025 | 14% | +59 points |
| Q2 2025 | 17% | +51 points |
| Q1 2025 | 12% | +31 points |
| Q4 2024 | -59% | +2328 points |
| Q3 2024 | -45% | +177 points |
GROY's operating margin was 28% last quarter, up 11 points from the same quarter a year ago, near the top of its range since 2021.
GROY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$2.8M | -363% |
| Q1 2026 | -$25.9M | -1117% |
| Q4 2025 | -$70.6M | -8813% |
| Q3 2025 | $2.4M | +$2.5M |
| Q2 2025 | $1.1M | +$45.7M |
| Q1 2025 | $2.5M | +712% |
| Q4 2024 | $810K | +$23.6M |
| Q3 2024 | -$42K | +$9.2M |
GROY has burned cash in most quarters: −$97M over the past year, against $4M the year before.
GROY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.7M shares |
| 1 year | +40% | +68.7M shares |
| 3 years | +66% | +94.7M shares |
| 5 years | +475% | +198M shares |
GROY has 239M diluted shares, up 40% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
GROY hasn't bought back shares in the past year.
GROY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.9x | Net Cash |
| Q1 2026 | -1.4x | Net Cash |
| Q4 2025 | -1.8x | Net Cash |
| Q3 2025 | 8.9x | High |
| Q2 2025 | 14.5x | High |
| Q1 2025 | 23.2x | High |
| Q4 2024 | 24.6x | High |
GROY has more cash than debt.
GROY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.2 | Neutral |
| Stochastic | 34.3 | Neutral |
GROY's weekly RSI is 46 (neutral) and its Stochastic is 34 (neutral).
GROY PE vs Basic Materials Sector
GROY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.97 | 1% below |
| 20 week MA | $3.00 | 2% below |
| 50 week MA | $3.49 | 16% below |
| 100 week MA | $2.91 | 1% above |
| 200 week MA | $2.29 | 28% above |
GROY has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 28% above its 200-week average.
GROY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $5.00 | $4.97 | -0.6% |
| 2022 | $4.97 | $2.25 | -55% |
| 2023 | $2.25 | $1.47 | -35% |
| 2024 | $1.47 | $1.19 | -19% |
| 2025 | $1.19 | $4.21 | +254% |
| 2026 YTD | $4.21 | $2.94 | -30% |
GROY's yearly returns have swung widely, from +254% in 2025 to −55% in 2022. It's down 30% so far in 2026.