Company Analysis

Gold Royalty Corp. (GROY)

NYSE: GROY · Gold and Silver Ores · Vancouver, BC · filing with the SEC since 2020
Grade5.3
◀ Past 5.9● Present 4.5▶ Future 5.6
1 est.

The grade of Gold Royalty Corp.

Nine metrics read from its own filings, by tense
Headline grade
5.3/10
◀ Past5.940% of the headline
● Present4.535% of the headline
▶ Future5.625% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.9/1040% of the headline grade · 3 of 3 filed

Surviving crises

as filed
6.0/10

Has it survived what it has been through?

No warning events in its filings since 2020.

weight 45% of this tense · 60th percentile among 73 sector filers · read for itself

From the record

Gold Royalty Corp.'s filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
5.0/10

What has it actually done, year after year?

+181.3% a year over 5 filed years; profitable in 0 of 5.

weight 33% of this tense · 49th percentile among 44 sector filers · read for its customers

From the record

Gold Royalty Corp.'s 5 filed years say what it did: revenue went from $192 thousand in fiscal 2021 to $16 million in fiscal 2025, up 181.3% a year; it rose in 3 of 4 years; the deepest fall was 23% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 5 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span181.3%top 4% of its family
  • the share of years revenue rosetop 38% of its family
  • the share of filed years with a profitbottom 9% of its family
  • the deepest fall from a revenue peak22.7%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
7.1/10

How has it treated the people who own it?

Share count grew 10.0% a year. 100% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 71st percentile among 38 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Gold Royalty Corp.'s diluted share count grew about 10.0% a year, and dividends and buybacks returned about 100% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 43% of its family
  • cash returned against operating cash flowtop 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.5/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
4.5/10

Is it financially healthy right now?

ROE -1%: lost 1¢ per shareholder dollar. Leverage 15%: owes 15¢ per asset dollar.

weight 45% of this tense · 45th percentile among 62 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Gold Royalty Corp. lost about 1 cents for every dollar of shareholders' money, and gross profitability: its products earned about 1 cents per dollar of everything the company owns. Leverage: it owed about 15 cents per dollar of assets, and net share issuance: its share count grew 9.7% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 29% of its family
  • return on equitytop 47% of its family
  • gross profit against assetsbottom 9% of its family
  • the share count against the year beforebottom 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.9/10

How strong is its position in its industry?

bottom 39% of 44 in its family; net margin -26.5%.

weight 33% of this tense · 39th percentile among 44 sector filers · read for its customers

From the record

Gold Royalty Corp.'s standing among 44 graded names in its industry family: revenue of $16 million in fiscal 2025 ranks in the bottom 13% by size; a net margin of -26.5% ranks in the bottom 21%; revenue growth of 52.6% a year over the last 3 filed years ranks in the top 17% (its annual reports).

What it rests on

  • revenue against the family$15.6Mbottom 13% of its family
  • net margin-26.5%bottom 21% of its family
  • three-year revenue growth52.6%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 16 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 16 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned
family median, 16 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Gold Royalty Corp.'s leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 16 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

5.6/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed
6.6/10

How much room does it have to grow?

top 34% of 42 in its family for room to expand.

weight 22% of this tense · 66th percentile among 42 sector filers · read for itself

From the record

Gold Royalty Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of $12 million against no long-term debt tagged leaves 1.5% of its assets as net cash, bottom 26% of its family; cash from operations less capital spending is 39.5% of revenue (top 21%); a gross margin of 76.4% (top 6%) (its annual report).

What it rests on

  • cash less debt against assets1.5%bottom 26% of its family
  • cash from operations less capital spending against revenue39.5%top 21% of its family
  • gross margin76.4%top 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.5/10

What could actually drive growth from here?

top 45% of 41 in its family for growth drivers.

weight 33% of this tense · 55th percentile among 41 sector filers · read for its customers

From the record

Gold Royalty Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 52.6% a year over the last three filed years against 181.3% over all 5, slowing (bottom 4% of its family); the newest year grew 54.6% (top 36%); capital spending grew 1302.5% a year (top 1%) (its annual reports). Gold Royalty Corp. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-128.7 points a yearbottom 4% of its family
  • the newest year's revenue growth54.6%top 36% of its family
  • three-year growth of capital spending1302.5%top 1% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.2/10

Did its newest year beat what its own record pointed to?

top 48% of 38 in its family for expectations against reality.

weight 45% of this tense · 52nd percentile among 38 sector filers · read for its shareholders

From the record

Gold Royalty Corp.'s newest year against its own record: revenue of $16 million in fiscal 2025 came in 1.8% above the $15 million its prior three years' pace pointed to (bottom 25% of its family); net income of $4 million against a prior three-year average of $16 million (bottom 38%); a net margin of -26.5% against losses larger than its revenue before (top 7%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace1.8%bottom 25% of its family
  • net income against the prior three years' average+74%bottom 38% of its family
  • net margin against its prior averageup more than 100 pointstop 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton GROY · research, not advice