Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Gold Royalty Corp. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.19
3.94
3.05
10.1
15.6
Cost of revenue
0.16
0.27
1.02
Gross profit
0.03
2.19
2.11
6.63
11.9
Operating income
-12.6
-21.5
-31
-4.07
1.54
Interest expense
0.63
1.84
8.04
8.27
Pre-tax income
-15
-17.4
-32.9
-9.39
-4.34
Income tax
-0.02
-6.13
-5.97
-0.21
Net income
-15
-17.3
-26.8
-3.41
-4.13
EPS, basic
-0.45
-0.14
-0.18
-0.02
-0.02
EPS, diluted
-0.45
-0.14
-0.18
-0.02
-0.02
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
9.91
7.05
1.44
2.27
12.4
Short-term investments
1.12
7.2
0.34
0.21
1.55
Receivables
0.41
1.03
0.93
1.66
2.74
Total current assets
13.3
17
5.55
5.87
22.5
Total assets
279
689
691
738
823
Accounts payable
6.92
6.68
3.85
3.86
4.62
Total current liabilities
6.92
7.21
3.85
3.86
4.62
Lease liabilities
0.01
0.26
0.26
0.18
0.1
Total liabilities
54.2
152
170
179
124
Retained earnings
-15.1
-36.5
-69.8
-73.2
-77.4
Total equity
225
536
521
558
699
Total liabilities and equity
279
689
691
738
823
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-15
-17.3
-26.8
-3.41
-4.13
Cash from operations
-12
-19.3
-6.88
2.54
6.17
Capital expenditures
-0
-0.03
Cash from investing
-69.2
10.6
-33.5
-44.1
-68.7
Debt issued
9.4
Dividends paid
-4.03
-2.6
Cash from financing
90.9
5.83
36
42.3
72.6
Exchange rate effect
0.04
0
Net change in cash
9.87
-2.86
-4.4
0.82
10.1
Free cash flow
-12
-19.3
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $3.16 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
76.4%
Gross profit / revenue.
Operating margin
9.9%
Operating income / revenue.
Pre-tax margin
-27.8%
Pre-tax income / revenue.
Net margin
-26.5%
Net income / revenue.
Operating cash flow margin
39.5%
Cash from operations / revenue.
Return on assets (ROA)
-0.5%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
54.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
58.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
79.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
76.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
142.6%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
11.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
6.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.88x
Current assets / current liabilities.
Quick ratio
3.62x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.02x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
15.0%
Total liabilities / total assets.
Interest coverage
0.19x
Operating income / interest expense.
Working capital
$17.9M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.02x
Revenue / average total assets.
Receivables turnover
7.09x
Revenue / average receivables.
Days sales outstanding
51 days
365 x average receivables / revenue.
Days payables
1,517 days
365 x average accounts payable / cost of revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.02
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.02
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$804.0M
Share price x shares outstanding.
Enterprise value
$790.1M
Market cap + total debt - cash - short-term investments.
P/S
51.5x
Market cap / revenue.
P/OCF
130x
Market cap / cash from operations, when positive.
EV/Sales
50.6x
Enterprise value / revenue.
EV/EBIT
513x
Enterprise value / operating income, when both are positive.
Earnings yield
-0.5%
Net income / market cap (the inverse of P/E).
What was Gold Royalty Corp.'s revenue in fiscal 2025?
Gold Royalty Corp. reported revenue of $15.6M for fiscal 2025, 54.5% higher than the year before.
Was Gold Royalty Corp. profitable in fiscal 2025?
No. It reported a net loss of $4.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.