GROY Basic Materials

Gold Royalty Corp.

$2.64-2.94%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Basic Materials
Industry: Gold
Country: Canada
Market cap: 611.6M USD
Enterprise value: 609.2M USD

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.00 vs a peer median of 0.69), though less than the overall marketbigger price swings (beta 1.00 vs peers 0.69)

Ranks #493 of 1,217 basic materials companies (top 41%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 18% of revenue in FY Dec 2025.
Gold Royalty paid employees $3M in stock in FY Dec 2025, 18% of its $16M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Operating margin at a 5-year high. 9.9% in FY Dec 2025, the best of the last 5 years.
Gold Royalty kept 9.9% of revenue as operating profit in FY Dec 2025, its highest in the 5 years of filings we have.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Gold Royalty reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

StockQuotient Score

56/ 100

Oct 5 57 → Nov 4 56 (-1)

Valuation

Is the price right?

15/100

Weak

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364

EBITDA yield1.7%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -1.31Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield-15.8%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield118.0%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

93/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 54.5%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.0941 · MAD: 0.3300

3-year revenue growth58.2%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.13Sector median: -0.0005 · MAD: 0.0725

Revenue growth54.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 5.37Sector median: 0.0335 · MAD: 0.0952

Profitability

Does it earn well?

30/100

Weak▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Operating margin rose 50.1 points to 9.9%

Why it changed since the Oct 27, 2026 close: Score 29 → 30

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ ROIC
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin9.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.37Sector median: 0.0757 · MAD: 0.0617

Return on assets-0.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -1.13Sector median: 0.0249 · MAD: 0.0265

Return on invested capital0.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score -1.14Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin76.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity-0.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why

Stronger than most peers on:

▲ Debt / equity
▲ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.00

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.08Sector median: 0.6950 · MAD: 0.2810

Current ratio4.88×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 4.61Sector median: 1.7610 · MAD: 0.6770

Debt / equity<0.01×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.21Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Gold Royalty

Is Gold Royalty getting weaker?: Its latest SEC filing (Mar 19, 2026) got stronger: operating margin rose 50.1 points to 9.9%. Its overall score is unchanged at 56/100 since Oct 28, 2026.
How is Gold Royalty valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 15/100 against 1,371 basic materials peers. Earnings yield -0.7% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -0.7% vs peers 3.6% (weaker than 100% of peers).
Is Gold Royalty growing?: Yes, faster than most of its peers. Growth scores 93/100 against 1,371 basic materials peers. 3-year revenue growth 58.2% vs a peer median of -0.0% (stronger than 95% of peers).3-year revenue growth 58.2% vs peers -0.0% (stronger than 95% of peers).
How profitable is Gold Royalty?: Less profitable than most of its peers. Profitability scores 30/100 against 1,371 basic materials peers. Operating margin 9.9% vs a peer median of 7.6% (stronger than 61% of peers).Operating margin 9.9% vs peers 7.6% (stronger than 61% of peers). Return on invested capital 0.2% vs a peer median of 6.7% (weaker than 81% of peers).Return on invested capital 0.2% vs peers 6.7% (weaker than 81% of peers).
How risky is Gold Royalty?: Lower risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Debt / equity <0.01× vs a peer median of 0.36× (stronger than 95% of peers).Debt / equity <0.01× vs peers 0.36× (stronger than 95% of peers). Beta 1.00 vs a peer median of 0.69 (weaker than 73% of peers).Beta 1.00 vs peers 0.69 (weaker than 73% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 19, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Operating margin rose 50.1 points to 9.9%

	Previous year	Latest year	Change
Revenue (12 months)	10.1M USD	15.6M USD	+54.5%
Net income (12 months)	−3.4M USD	−4.1M USD	+21.1%
Operating margin	-40.2%	9.9%	+50.1 pts
Cash	2.3M USD	12.4M USD	+447.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	14.6%	55.5%	69.1%	65.6%	76.4%	▲ 11 pts
Operating margin	-6552.6%	-544.0%	-1016.1%	-40.2%	9.9%	▲ 50 pts
Net margin	-7815.6%	-439.8%	-877.8%	-33.8%	-26.5%	▲ 7.3 pts
Return on assets (ROA)	-5.4%	-2.5%	-3.9%	-0.5%	-0.5%	▼ 0.0 pts
Return on equity (ROE)	-6.7%	-3.2%	-5.1%	-0.6%	-0.6%	▲ 0.0 pts
Free cash flow margin	-6225.0%	-489.1%	—	—	—	—
Current ratio	1.92×	2.35×	1.44×	1.52×	4.88×	▲ 221%
Interest coverage	—	-33.89×	-16.84×	-1.06×	0.39×	▲ 137%

GROY price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

Sylvania Platinum LimitedSLP.L97/ 100

Serabi Gold plcSRB.L95/ 100

Wesdome Gold Mines Ltd.WDO.TO95/ 100

Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.00 vs a peer median of 0.69), though less than the overall marketbigger price swings (beta 1.00 vs peers 0.69)

Ranks #493 of 1,217 basic materials companies (top 41%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 18% of revenue in FY Dec 2025.

Gold Royalty paid employees $3M in stock in FY Dec 2025, 18% of its $16M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Operating margin at a 5-year high. 9.9% in FY Dec 2025, the best of the last 5 years.

Gold Royalty kept 9.9% of revenue as operating profit in FY Dec 2025, its highest in the 5 years of filings we have.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Gold Royalty reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Questions investors ask about Gold Royalty

Is Gold Royalty getting weaker?

Its latest SEC filing (Mar 19, 2026) got stronger: operating margin rose 50.1 points to 9.9%. Its overall score is unchanged at 56/100 since Oct 28, 2026.

How is Gold Royalty valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 15/100 against 1,371 basic materials peers. Earnings yield -0.7% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -0.7% vs peers 3.6% (weaker than 100% of peers).

Is Gold Royalty growing?

Yes, faster than most of its peers. Growth scores 93/100 against 1,371 basic materials peers. 3-year revenue growth 58.2% vs a peer median of -0.0% (stronger than 95% of peers).3-year revenue growth 58.2% vs peers -0.0% (stronger than 95% of peers).

How profitable is Gold Royalty?

Less profitable than most of its peers. Profitability scores 30/100 against 1,371 basic materials peers. Operating margin 9.9% vs a peer median of 7.6% (stronger than 61% of peers).Operating margin 9.9% vs peers 7.6% (stronger than 61% of peers). Return on invested capital 0.2% vs a peer median of 6.7% (weaker than 81% of peers).Return on invested capital 0.2% vs peers 6.7% (weaker than 81% of peers).

How risky is Gold Royalty?

Lower risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Debt / equity <0.01× vs a peer median of 0.36× (stronger than 95% of peers).Debt / equity <0.01× vs peers 0.36× (stronger than 95% of peers). Beta 1.00 vs a peer median of 0.69 (weaker than 73% of peers).Beta 1.00 vs peers 0.69 (weaker than 73% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

10.1M USD

15.6M USD

+54.5%

Net income (12 months)

−3.4M USD

−4.1M USD

+21.1%

Operating margin

-40.2%

9.9%

+50.1 pts

Cash

2.3M USD

12.4M USD

+447.3%

Key ratios

FY Sep 2021

FY Sep 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

14.6%

55.5%

69.1%

65.6%

76.4%

▲ 11 pts

Operating margin

-6552.6%

-544.0%

-1016.1%

-40.2%

9.9%

▲ 50 pts

Net margin

-7815.6%

-439.8%

-877.8%

-33.8%

-26.5%

▲ 7.3 pts

Return on assets (ROA)

-5.4%

-2.5%

-3.9%

-0.5%

▼ 0.0 pts

Return on equity (ROE)

-6.7%

-3.2%

-5.1%

-0.6%

▲ 0.0 pts

Free cash flow margin

-6225.0%

-489.1%

—

Current ratio

1.92×

2.35×

1.44×

1.52×

4.88×

▲ 221%

Interest coverage

—

-33.89×

-16.84×

-1.06×

0.39×

▲ 137%