Verdict: Side-by-side breakdown using the Bull Rankings model. RGLD scored 52.4, BTG scored 71.5 — BTG leads.
Compare another set
RGLD
Royal Gold, Inc.
Gold · Quality-Growth
52.4
$236.23 · $20.0B
fundamentals as of
Score gap
19.1
BTG leads
BTG
B2Gold Corp.
Gold · Quality-Growth
71.5
$5.25 · $6.9B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
CheapestBTG9.5x
Fastest growthBTG+60.9%
Strongest balance sheetRGLD0.05
Highest qualityBTG79 / 100
Largest discount to fair valueBTG-57%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
RGLD
stronger →← stronger
BTG
58
Qualityreturns · margins · balance sheet
79
50
Growthrevenue & earnings expansion
50
50
Valuevaluation vs sector peers
93
BTG is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
RGLD
BTG
$585kC-
FCF
$923mC+
+43.2%A
Rev
+60.9%A
0.05A-
D/E
0.11A-
26.2xC+
P/E
9.5xA-
1.06B+
PEG
0.11A
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
RGLD
BTG
152126% above
Price vs fair valuelower is cheaper
57% below
>60%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
~-6%/yr
-100%
1-yr DCF upside
+80%
-100%
5-yr DCF upside
+132%
-100%
10-yr DCF upside
+233%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
RGLD
Why this score
Raising its dividend
Diluting shareholders
Cyclical growth
BTG
Why this score
Cut its dividend
Cyclical growth
The companies
RGLDRoyal Gold, Inc.
Gold · $236.23 · beta 0.45
Why now
Gold · market cap $20.0b. Down 23% from 52-week high of $306.25 — deep drawdown territory. Revenue growing +43% — in hypergrowth territory. 12 sell-side analysts rate this a Buy with a mean 1-yr target of $309.83 (implying +31% upside).
Moat
Net margin 48% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 14% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. Mining moat is reserve quality + extraction cost per unit — top-quartile cost producers generate cash through the commodity cycle while marginal producers burn it.
Risk
P/S 13.0x embeds aggressive forward growth — disappointing top-line guidance would compress the multiple hard. Production-cost sensitivity — top-quartile cost producers generate cash through the cycle while marginal producers burn it; watch the cost-per-unit trend, not just headline revenue.
BTGB2Gold Corp.
Gold · $5.25 · beta 1.41
Why now
Gold · market cap $6.9b. 17% off the 52-week high of $6.29. Revenue growing +61% — in hypergrowth territory. PEG 0.11 — paying under fair value for the growth rate. 5 sell-side analysts rate this a Buy with a mean 1-yr target of $6.45 (implying +23% upside).
Moat
Net margin 21% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 23% is above 15% — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 114% of net income — earnings translate cleanly into cash.
Risk
Beta 1.41 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Hedge-book exposure — many commodity producers hedge forward production; if the hedge book is concentrated at prices well below spot, the upside the market expects is already locked away.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where RGLD and BTG diverge
On the headline score the gap is 19.1 points in favor of BTG. The widest single difference is Value, where BTG leads by 43.2 points.
ValueRGLD 49.6 · BTG 92.8BTG +43.2
QualityRGLD 57.9 · BTG 78.7BTG +20.8
GrowthRGLD 50.0 · BTG 50.0level
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is BTG or RGLD the better stock?
BTG scores higher: BTG 71.5, RGLD 52.4 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do BTG and RGLD differ most?
The widest gap is value, where BTG leads by 43 points on the 0–100 pillar scale. BTG also leads quality, while growth is effectively level between them.
How are BTG and RGLD scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.