Gold Royalty (GROY) Cash Flow: Operating & Free Cash Flow

Gold Royalty Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Gold Royalty Corp. (GROY) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Sep 2022	Sep 2021	Sep 2020
Operating Activities
Net Income	-4.13	-3.41	-26.76	-2.20	-15.01	-0.14
Depreciation & Amortization	0.08	3.28	1.01	0.25	0.01	0.00
Deferred Income Tax	-0.53	-6.48	-6.18	-0.13	1.81	0.00
Stock Based Compensation	2.75	2.34	2.81	3.15	2.99	0.00
Change in Working Capital	-2.11	1.34	-1.83	-6.12	-1.69	0.14
Change in Accounts Receivable	-1.08	0.34	-0.22	0.39	-0.15	0.00
Change in Accounts Payable	0.00	0.21	0.07	-3.04	0.02	0.00
Change in Other Working Capital	-1.03	0.79	-1.68	0.44	-1.57	0.14
Other Operating Activities	10.11	-1.01	17.89	0.63	-0.06	0.00
Net Cash from Operating Activities	6.17	2.54	-6.88	-19.26	-11.95	0.00
Investing Activities
Capital Expenditures	-72.96	-46.10	-28.70	-19.71	-10.98	0.00
Acquisitions	0.44	0.00	0.00	10.39	-58.25	0.00
Purchases of Investments	-0.03	0.17	-10.00	-1.21	-1.59	0.00
Sales/Maturities of Investments	0.02	0.17	3.31	17.66	1.59	0.00
Other Investing Activities	3.87	1.74	1.91	0.51	0.06	0.00
Net Cash from Investing Activities	-68.66	-44.07	-33.49	10.58	-69.17	0.00
Financing Activities
Debt Repayment	-29.24	-0.09	-0.24	-0.06	0.00	0.00
Common Stock Issued	107.21	31.98	1.39	0.86	0.00	0.00
Dividends Paid	0.00	0.00	-2.60	-1.44	0.00	0.00
Other Financing Activities	-5.34	-4.16	-1.12	-0.34	90.95	0.04
Net Cash from Financing Activities	72.63	42.35	35.96	5.83	90.95	0.04
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	0.04	0.00
Net Change in Cash	10.14	0.82	-4.40	-2.86	9.87	0.04
Cash at Beginning of Period	2.27	1.44	5.85	9.91	0.04	0.00
Cash at End of Period	12.41	2.27	1.44	7.05	9.91	0.04
Free Cash Flow	-66.79	-43.56	-35.58	-38.97	-22.93	0.00
Supplemental Disclosures
Interest Paid	-	4.16	1.12	0.34	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Gold Royalty Cash Flow

What is Gold Royalty's free cash flow?

Gold Royalty had negative free cash flow of $66.79M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $6.17M minus $72.96M of capital expenditures.

How much does Gold Royalty spend on capital expenditures?

Gold Royalty spent $72.96M on capital expenditures in fiscal 2025, compared with $46.10M a year earlier. That equals 1182.5% of operating cash flow.

Does Gold Royalty pay dividends or buy back shares?

Gold Royalty's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition