Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
ASSETS
Cash and equivalents	$ 234,142	$ 233,719
Royalty receivables	142,804	110,846
Income tax receivable	109	2,108
Stream inventory	30,864	25,883
Prepaid expenses and other	4,360	4,890
Total current assets	412,279	377,446
Stream and royalty interests, net (Note 3)	8,539,286	8,583,875
Equity method investment (Note 4)	314,281	300,854
Marketable securities (Note 5)	97,114	172,880
Other assets	126,746	102,469
Total assets	9,489,706	9,537,524
LIABILITIES
Accounts payable	7,269	10,060
Dividends payable	40,330	40,186
Income tax payable	32,469	33,303
Other current liabilities	37,023	37,367
Total current liabilities	117,091	120,916
Debt (Note 6)	595,689	895,436
Deferred tax liabilities	1,187,876	1,190,672
Mount Milligan deferred liability (Note 7)	69,211	69,211
Other liabilities	57,575	55,942
Total liabilities	2,027,442	2,332,177
Commitments and contingencies (Note 14)
EQUITY
Preferred stock, $.01 par value, 10,000,000 shares authorized; and 0 shares issued	0	0
Common stock, $.01 par value, 200,000,000 shares authorized; and 84,787,272 and 84,499,692 shares outstanding, respectively	846	845
Additional paid-in capital	5,946,311	5,928,123
Accumulated other comprehensive income	0	993
Accumulated earnings	1,467,969	1,227,169
Total Royal Gold stockholders’ equity	7,415,126	7,157,130
Non-controlling interests	47,138	48,217
Total equity	7,462,264	7,205,347
Total liabilities and equity	$ 9,489,706	$ 9,537,524