Royal Gold Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Jun '21 Jun 30, 2021
Net Income	480.08	332.02	239.44	238.98	274.04	302.53
Depreciation & Amortization	130.79	144.43	164.94	183.22	189.01	183.57
Loss (Gain) From Sale of Investments	0.06	0.07	0.15	1.5	-2.51	-39.92
Stock-Based Compensation	11.43	11.89	9.7	8.41	6.06	5.73
Other Operating Activities	-3.27	9.76	-5	-17.9	13.93	1.67
Change in Accounts Receivable	-19.58	-14.58	0.52	4.68	-9.77	-19.55
Change in Inventory	-9.39	-3.19	2.87	-1.05	2.29	-6.01
Change in Accounts Payable	-7.2	-9.11	4.76	0.21	3.86	3.24
Change in Income Taxes	0.09	9.16	-0.12	-1.16	-13.49	-25.45
Change in Other Net Operating Assets	21.19	49.06	-1.46	0.44	-1.55	1.35
Operating Cash Flow	604.19	529.5	415.79	417.35	461.87	407.15
Operating Cash Flow Growth	23.42%	27.35%	-0.37%	-9.64%	13.44%	19.49%
Capital Expenditures	-1,211	-102.56	-2.68	-922.16	-400.38	-168.15
Investment in Securities	-	-	-	-	8.65	69.95
Other Investing Activities	7.5	24.88	-0.15	-0.72	-0.24	-0.54
Investing Cash Flow	-1,204	-77.68	-2.83	-922.88	-416.97	-116.74
Long-Term Debt Issued	-	-	-	700	-	-
Total Debt Issued	825	-	-	700	100	-
Long-Term Debt Repaid	-	-250	-325	-125	-	-305
Total Debt Repaid	-50	-250	-325	-125	-300	-305
Net Debt Issued (Repaid)	775	-250	-325	575	-200	-305
Common Dividends Paid	-115.21	-105.24	-98.57	-91.93	-78.74	-76.1
Other Financing Activities	-15.15	-5.26	-3.82	-2.51	-4.47	-2.53
Financing Cash Flow	644.64	-360.49	-427.38	480.57	-283.21	-383.63
Net Cash Flow	44.97	91.33	-14.42	-24.97	-238.31	-93.21
Free Cash Flow	-607.17	426.94	413.11	-504.81	61.49	239
Free Cash Flow Growth	-	3.35%	-	-	-74.27%	29.35%
Free Cash Flow Margin	-71.49%	59.90%	69.03%	-84.67%	9.53%	39.24%
Free Cash Flow Per Share	-9.23	6.49	6.28	-7.69	0.94	3.64
Cash Interest Paid	6.59	6.59	28.05	7.22	0.3	3.51
Cash Income Tax Paid	72.11	72.11	50.3	54.8	24.17	58.97
Levered Free Cash Flow	-743.33	313.74	356.53	-552.1	-	189.23
Unlevered Free Cash Flow	-737.77	317.67	374.28	-545.85	-	191.29
Change in Working Capital	-14.89	31.34	6.57	3.12	-18.66	-46.43

Source: S&P Global Market Intelligence. Standard template. Financial Sources.