OR ROYALTIES INC COMMON STOCK (OR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.31	$0.32	+3.2%	—	$97.8M	—
Q1 26	$0.34	$0.4	+17.6%	—	$102.8M	—
Q4 25	$0.3	$0.32	+6.7%	—	$90.5M	—
Q2 25	$0.17	$0.18	+5.9%	—	$60.4M	—
Q1 25	$0.15	$0.16	+6.7%	—	$54.9M	—
Q4 24	$0.15	$0.16	+6.7%	—	$55.8M	—
Q3 24	$0.1	$0.11	+10.0%	—	$30.2M	—
Q2 24	$0.12	$0.13	+8.3%	—	$34.3M	—
Q1 24	$0.11	$0.12	+9.1%	—	$45M	—
Q4 23	$0.11	$0.12	+9.1%	—	$65.2M	—
Q3 23	$0.1	$0.09	-10.0%	—	$62.1M	—
Q2 23	$0.11	$0.13	+18.2%	—	$60.5M	—
Q1 23	$0.09	$0.13	+44.4%	—	$59.6M	—
Q4 22	$0.13	$0.19	+46.2%	—	$61.9M	—
Q3 22	$0.07	$0.1	+42.9%	—	$53.7M	—
Q2 22	$0.09	$0.14	+55.6%	—	$51.5M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.1	—	—	$277.4M	—
FY24	—	$0.09	—	—	$191.2M	—
FY23	—	-$0.26	—	—	$247.3M	—
FY22	—	-$0.66	—	—	$217.8M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$62.7M	$213.2M	$490.5M	$392.6M	$213.6M	$224.9M	$217.8M	$247.3M	$191.2M	$277.4M
YoY change	+38%	+240.2%	+130%	-20%	-45.6%	+5.26%	-3.14%	+13.5%	-22.7%	+45.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	62.7M	213.2M	490.5M	392.6M	213.6M	224.9M	217.8M	247.3M	191.2M	277.4M
Cost of revenue	11.4M	153.7M	423.9M	309.9M	109.3M	86M	67.4M	73M	6.7M	44.9M
Gross profit	51.2M	59.5M	66.6M	82.7M	104.3M	138.9M	150.4M	174.3M	184.4M	232.5M
Gross margin	81.8%	27.9%	13.6%	21.1%	48.8%	61.8%	69%	70.5%	96.5%	83.8%
Research & development	8.3M	16.2M	4.5M	6.1M	10.3M	4.2M	5.4M	6.2M	5.6M	—
Selling, general & administrative	16.7M	24.6M	18.2M	23.7M	25.9M	19.6M	20.2M	32.8M	18.3M	27.7M
Operating expenses	33.5M	57.1M	27.4M	36.1M	46.6M	27.9M	31M	39M	23.9M	29M
Operating income	26.1M	18.6M	43.7M	52.7M	68M	115.1M	124.8M	135.3M	129.3M	202.3M
Operating margin	41.6%	8.71%	8.91%	13.4%	31.8%	51.2%	57.3%	54.7%	67.6%	72.9%
Non-operating income, net	25.7M	-80.4M	-163.2M	-308.4M	-19.3M	7M	908K	-158.2M	-95.3M	39.6M
Pretax income	51.6M	-65.9M	-140.7M	-274.6M	27.1M	102.6M	113.1M	-35.1M	30.1M	241.4M
Income tax	9.7M	-23.1M	-35.1M	-40.4M	10.9M	25.9M	27.8M	13.3M	13.9M	35.3M
Net income	41.9M	-42.8M	-105.6M	-234.2M	16.2M	-56.7M	-183.2M	-48.3M	16.3M	206.1M
Net margin	66.8%	-20.1%	-21.5%	-59.7%	7.6%	-25.2%	-84.1%	-19.5%	8.51%	74.3%
EBITDA	37.2M	44.9M	92.2M	83.4M	111.5M	166.6M	185.1M	208.3M	134.6M	229.1M
EPS	0.4	-0.33	-0.67	-1.55	0.1	-0.14	-0.66	-0.26	0.09	1.1
Diluted EPS	0.4	-0.33	-0.67	-1.55	0.1	-0.14	-0.66	-0.26	0.09	1.09

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	62.1M	65.2M	45M	34.3M	30.2M	55.8M	54.9M	60.4M	71.6M	90.5M	102.8M	97.8M
Cost of revenue	21.2M	17M	9.9M	6.7M	6.1M	-21.1M	9.4M	10.2M	12.5M	12.8M	14M	15.6M
Gross profit	40.8M	48.1M	35.1M	27.7M	24M	77M	45.6M	50.2M	59.1M	77.6M	88.8M	82.2M
Gross margin	65.8%	73.8%	78%	80.5%	79.6%	137.9%	83%	83.1%	82.5%	85.8%	86.4%	84%
Research & development	1.3M	2M	1M	1.1M	794.1K	2M	2.1M	2.8M	2M	—	2.6M	2M
Selling, general & administrative	11.7M	7.6M	4.5M	3.4M	3.5M	4.1M	5M	5.9M	4.9M	11.9M	6M	4.9M
Operating expenses	13M	9.7M	5.5M	4.5M	4.3M	6.1M	7M	8.8M	8.9M	6.3M	8.6M	6.9M
Operating income	27.8M	38.5M	30.9M	23.2M	19.7M	39.7M	38.5M	41.4M	52.2M	70.1M	80.2M	75.3M
Operating margin	44.8%	59%	68.8%	67.5%	65.3%	71.1%	70.1%	68.6%	72.9%	77.5%	78%	77%
Non-operating income, net	-45.5M	-96.9M	-12.1M	-38.3M	-5.6M	-23.2M	-3.9M	-1.5M	39.7M	5.2M	6.3M	743K
Pretax income	-22.7M	-63.5M	17M	-16M	13.8M	16.1M	33.5M	39.4M	92.1M	76.3M	87.7M	74.4M
Income tax	-2.7M	3.7M	5.8M	-4.8M	4.2M	8.9M	7.9M	7.1M	9.2M	11.1M	14.1M	13M
Net income	-20M	-67.2M	11.2M	-11.2M	9.6M	7.2M	25.6M	32.4M	82.8M	65.2M	73.6M	61.4M
Net margin	-32.2%	-103.1%	24.8%	-32.6%	31.9%	12.9%	46.7%	53.6%	115.7%	72.1%	71.6%	62.8%
EBITDA	41.4M	53.6M	30.6M	27.9M	19.9M	38.6M	43.4M	47.8M	55.4M	82.4M	93.9M	89.7M
EPS	-0.11	—	0.06	-0.08	0.07	—	0.14	0.17	0.44	—	0.39	0.33
Diluted EPS	-0.11	—	0.06	-0.08	0.07	—	0.14	0.17	0.44	—	0.39	0.33

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	2.1B	3B	3B	3.2B	3.8B	—	6.6B	6.4B
Enterprise value	—	—	—	2.4B	3.1B	3.3B	3.2B	3.9B	—	6.5B	6.8B
Shares outstanding	152.1M	185.9M	227.6M	219.8M	235.8M	243.6M	262.1M	265.1M	186.3M	187.8M	187.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	184.3	—	—	—	—	32.2	23.9
P/S	—	—	—	5.44	14	13.3	14.5	15.3	—	24	18.5
P/B	—	—	—	1.43	1.62	1.68	1.82	2.29	—	4.64	4.52
EV/EBITDA	—	—	—	28.2	27.8	19.7	17.4	18.8	—	28.4	20.6
EV/Sales	—	—	—	6	14.5	14.6	14.8	15.8	—	23.5	18.8
Earnings yield	—	—	—	—	0.54%	—	—	—	—	3.1%	4.19%
FCF yield	—	—	—	0.35%	-1%	0.51%	-0.45%	-2.75%	—	3.14%	-2.64%
PEG	—	—	—	—	—	—	—	—	—	—	0.25

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	81.8%	27.9%	13.6%	21.1%	48.8%	61.8%	69%	70.5%	96.5%	83.8%	84%
Operating margin	41.6%	8.71%	8.91%	13.4%	31.8%	51.2%	57.3%	54.7%	67.6%	72.9%	77%
Net margin	66.8%	-20.1%	-21.5%	-59.7%	7.6%	-25.2%	-84.1%	-19.5%	8.51%	74.3%	78%
ROE	3.45%	-2.26%	-5.96%	-15.7%	0.88%	-3.18%	-10.5%	-2.93%	1.37%	14.4%	20.4%
ROA	2.96%	-1.7%	-4.72%	-12%	0.68%	-2.39%	-9.18%	-2.46%	1.18%	13.2%	10.6%
ROIC	2.79%	0.92%	2.25%	3.08%	2.09%	4.14%	5.22%	7.62%	5.68%	13.3%	14.6%
Return on tangible assets	20.5%	-5.96%	-5.25%	-13.6%	0.75%	-2.64%	-10.3%	-2.77%	1.33%	14.7%	16.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	32.2	12.2	8.59	5.03	3.06	0.44	5.87	4.11	4.37	4.53	2.28
Quick ratio	32.2	11.9	8.59	4.97	2.97	0.39	5.86	4.11	4.37	4.53	2.28
Debt / equity	0.04	0.25	0.2	0.23	0.22	0.23	0.09	0.12	0.08	0	0.15
Debt / assets	0.03	0.18	0.16	0.18	0.17	0.17	0.08	0.1	0.07	0	0.12
Net debt / EBITDA	-12.2	2.91	1.83	2.64	0.95	1.77	0.35	0.6	0.29	-0.6	0.45
Interest coverage	16	-6.86	-4.41	-10.7	2.04	5.3	6.06	-0.85	4.78	54.9	60
Effective tax rate	18.9%	0%	0%	0%	40.2%	25.3%	24.6%	0%	46%	14.6%	14.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	0.41	1.15	2.16	1.79	0.91	0.92	0.83	0.93	1.03	1.48	1.93
EPS (basic)	0.4	-0.33	-0.67	-1.55	0.1	-0.14	-0.66	-0.26	0.09	1.1	1.1
EPS (diluted)	0.4	-0.33	-0.67	-1.55	0.1	-0.14	-0.66	-0.26	0.09	1.09	1.5
Book value per share	7.98	10.2	7.79	6.79	7.81	7.31	6.63	6.23	6.38	7.63	7.92
FCF per share	-0.01	-0.17	-0.26	0.03	-0.13	0.06	-0.05	-0.39	0.46	1.11	-0.49
Cash per share	3.3	1.8	0.81	0.59	1.3	0.48	0.35	0.29	0.32	0.76	0.41
Capex per share	0.34	0.43	0.1	0.12	0.58	0.37	0.47	1.1	—	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	82.5%	37.6%	4.5%	6.87%	64.5%	40.5%	57%	117.7%	—	—	—
Capex / operating cash flow	70.9%	-194.2%	-32.5%	-12.9%	170.4%	59.8%	71.4%	1.1K%	—	—	—
Payout ratio	36.6%	-45.2%	-26.3%	-11.7%	178.2%	-57.3%	-20.7%	-82.5%	188.4%	16.9%	15.3%
Dividend yield	—	—	—	1.29%	0.97%	1.09%	1.2%	1.05%	—	0.52%	0.76%

Yield

0.76%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.065

ex-dividend Jun 30, 2026

Payout ratio

15%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jun 30, 2026	$0.065
Mar 31, 2026	$0.055
Jun 30, 2025	$0.055
Mar 31, 2025	$0.0455
Dec 31, 2024	$0.0451
Sep 27, 2024	$0.048
Jun 28, 2024	$0.0476
Mar 27, 2024	$0.044

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$62.1M	$65.2M	$45M	$34.3M	$30.2M	$55.8M	$54.9M	$60.4M	$71.6M	$90.5M	$102.8M	$97.8M
YoY change	+15.7%	+5.25%	-24.5%	-43.2%	-51.4%	-14.3%	+22.1%	+75.7%	+137.3%	+62.1%	+87.3%	+62.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	501.3M	333.7M	184.3M	128.9M	306M	115.7M	90.5M	75.9M	59.1M	142.1M
Receivables	852K	924K	6.6M	1.3M	1M	1.4M	2M	4.1M	2.1M	2.3M
Inventory	0	9.9M	0	1.7M	10M	18.6M	13K	13K	0	—
Total current assets	510.7M	352.9M	197.6M	140.4M	335.2M	152.9M	104.8M	84M	63.8M	147.7M
Property, plant & equipment	-418K	-860K	-8M	-34.5M	-28M	-67.6M	3M	7.1M	-679M	-718.3M
Goodwill & intangibles	1.2B	1.8B	222.4M	222.4M	222.4M	222.4M	222.4M	222.4M	154.6M	162.3M
Total assets	1.4B	2.5B	2.2B	1.9B	2.4B	2.4B	2B	2B	1.4B	1.6B
Accounts payable	1.4M	411K	217K	6.8M	12.8M	9.7M	648K	3.1M	1.4M	3M
Short-term debt	—	—	—	—	51.3M	294.9M	921K	1.1M	852K	1.2M
Total current liabilities	15.9M	28.8M	23M	27.9M	109.5M	346.3M	17.9M	20.5M	14.6M	32.6M
Long-term debt	45.8M	464.3M	352.8M	349M	360.5M	115.5M	154.7M	198.8M	97.8M	3.8M
Total liabilities	202M	621.9M	463.1M	453.8M	556.1M	590.6M	259.1M	315.5M	188.7M	134.4M
Shareholders' equity	1.2B	1.9B	1.8B	1.5B	1.8B	1.8B	1.7B	1.7B	1.2B	1.4B
Total debt	45.8M	464.3M	352.8M	349M	411.8M	410.4M	155.6M	199.9M	98.7M	5M
Net debt	-453.5M	130.6M	178.5M	240.8M	109.3M	294.7M	65M	132.2M	39.6M	-137.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	77.3M	75.9M	59.1M	36.9M	39.1M	59.1M	63.1M	49.6M	57M	142.1M	94.9M	75.6M
Receivables	7.3M	4.1M	3.1M	3.4M	4.6M	2.1M	2.8M	3M	3.4M	2.3M	5.6M	3M
Inventory	—	13K	—	—	—	0	—	—	—	—	—	—
Total current assets	88.6M	84M	63.4M	46.7M	44.3M	63.8M	67.4M	102M	110.1M	147.7M	103.5M	110.9M
Property, plant & equipment	-817.2M	7.1M	—	-499.7M	-500.6M	-679M	-691.3M	-700.1M	-705M	-718.3M	-725.3M	-727.8M
Goodwill & intangibles	222.4M	222.4M	164.6M	117.8M	117.3M	154.6M	154.7M	163M	159.8M	162.3M	159.6M	156.5M
Total assets	2.2B	2B	1.4B	1B	986.3M	1.4B	1.4B	1.4B	1.5B	1.6B	1.6B	1.9B
Accounts payable	7.6M	3.1M	3.7M	2.4M	3M	1.4M	3.9M	4.5M	5.5M	3M	5.6M	24.8M
Short-term debt	1.1M	1.1M	851.1K	626.1K	640.1K	852K	1.1M	1.2M	1.2M	1.2M	1.2M	1.2M
Total current liabilities	19.8M	20.5M	12.8M	9.5M	10.1M	14.6M	13.5M	21.6M	25.2M	32.6M	25.2M	48.6M
Long-term debt	322.5M	198.8M	117.3M	61M	45.7M	97.8M	78.9M	40.1M	4M	3.8M	3.4M	218.1M
Total liabilities	438.6M	315.5M	207M	121M	109.2M	188.7M	174.8M	151.8M	120.6M	134.4M	131.5M	371.9M
Shareholders' equity	1.7B	1.7B	1.2B	881M	877M	1.2B	1.2B	1.3B	1.4B	1.4B	1.5B	1.5B
Total debt	323.7M	199.9M	118.2M	61.7M	46.4M	98.7M	80M	41.3M	5.3M	5M	4.6M	219.3M
Net debt	252.9M	132.2M	65.9M	26.9M	15.5M	39.6M	16.9M	-8.3M	-51.8M	-137.1M	-90.3M	143.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	41.9M	-42.8M	-105.6M	-234.2M	16.2M	76.6M	85.3M	-48.3M	16.3M	206.1M
Depreciation & amortization	11.5M	28.2M	52.8M	48.3M	46.9M	49.4M	52.4M	57.6M	33.6M	37M
Stock-based compensation	7.4M	10.5M	5.8M	8.3M	9.4M	7.7M	7.1M	10.4M	6.2M	8.4M
Change in working capital	1M	-10M	11.1M	3.5M	-6M	-13.4M	-4.9M	-3.9M	-1.1M	1.3M
Operating cash flow	73M	-41.3M	-68M	-208.6M	80.9M	152.1M	174M	26.4M	69.1M	245.6M
Capital expenditure	-51.7M	-80.3M	22.1M	-27M	-137.9M	-91M	-124.2M	-291.1M	—	—
Investing cash flow	-15.1M	-877.5M	-61.7M	7.7M	-223.1M	-115.1M	-266.9M	-219.8M	-2.2M	38.2M
Dividends paid	-15.3M	-19.3M	-27.8M	-27.5M	-28.9M	-32.5M	-37.9M	-39.9M	-30.6M	-34.9M
Share repurchases	0	-1.8M	-31.2M	-143M	-3.9M	-30.8M	-22.1M	0	-428K	-36.7M
Financing cash flow	208.2M	678.9M	-183.1M	-183.7M	309M	-68.9M	-31M	1.5M	-84.4M	-175.1M
Net change in cash	266.1M	-239.9M	-312.9M	-384.5M	166.8M	-31.8M	-123.8M	-192M	-17.5M	108.7M
Free cash flow	-1.9M	-31.5M	-59M	7.5M	-29.9M	15.1M	-14.3M	-104.1M	86.5M	208.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-20M	-67.2M	11.2M	-11.2M	9.6M	7.2M	25.6M	32.4M	82.8M	65.2M	73.6M	61.4M
Depreciation & amortization	17.2M	13.4M	8.8M	5.7M	5.2M	9.6M	8M	7.9M	10.5M	10.6M	11M	12.8M
Stock-based compensation	4M	1.3M	1.6M	1.2M	1.1M	1.4M	2.1M	2.2M	2.1M	2.1M	1.8M	1.9M
Change in working capital	-1.2M	2.7M	1.8M	-1.3M	-1M	177.5K	434K	874K	767K	644K	-5M	2.9M
Operating cash flow	-3M	-47.5M	28.9M	-10.6M	18.7M	28.6M	43.5M	51.4M	64.6M	83.5M	71.9M	83.2M
Capital expenditure	-26.8M	-51.6M	—	0	-7.6M	—	—	—	—	—	—	—
Investing cash flow	-24.5M	74.5M	3.2M	-2.7M	-8.3M	-603.9K	-11.4M	-1.5M	2.5M	48.6M	7.8M	-17.3M
Dividends paid	-10.3M	-10.5M	-7.7M	-5.4M	-5.7M	-7.5M	-7.6M	-7.9M	-9.7M	-9.7M	-9.5M	-9.7M
Share repurchases	0	0	—	—	-308.4K	5K	—	—	0	-36.7M	-12.9M	-8M
Financing cash flow	-18.9M	-129.2M	-42.4M	-29.3M	-20.5M	27.8M	-28M	-54.9M	-45.4M	-46.7M	-32.5M	196.9M
Net change in cash	-46.4M	-102.3M	-10.4M	-42.6M	-10.1M	55.8M	4.1M	-5M	21.7M	85.4M	47.2M	262.8M
Free cash flow	16.7M	-857K	37.3M	27.7M	17.3M	-13.8M	40.8M	33.4M	50.9M	83.5M	-26.7M	-199.7M

OR ROYALTIES INC COMMON STOCK Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement