Triple Flag Precious Metals Corp. reported fourth‑quarter and full‑year 2025 results that set new company records. Q4 revenue rose to $118.9 million, up 27% from $93.5 million in Q4 2024, while full‑year revenue reached $388.7 million, a 44.5% increase from $269.0 million in 2024. The company also delivered 1,000 plus gold‑equivalent ounces (GEOs) in the quarter, the highest in its history, and 3,500 GEOs for the year, a 9% YoY gain that underscores its expanding streaming and royalty portfolio.
The company’s adjusted earnings per share (EPS) of $0.33 beat the consensus estimate of $0.3067 by 7.6%, a $0.0234 margin that reflects disciplined cost management and the high asset margin of 93% in 2025. Operating cash flow per share surged to $1.54, up 45% from $1.06 in FY 2024, driven by stronger cash generation from its core streaming and royalty assets and the absence of one‑time charges. These metrics illustrate the company’s ability to convert revenue growth into robust cash flow while maintaining a high operating margin.
A quarterly dividend of $0.0575 per share will be paid on March 16 2026, and the company reaffirmed its 2026 guidance of 95,000 to 105,000 GEOs for the year. The guidance, unchanged from the prior announcement, signals management’s confidence in sustaining production levels despite a slightly lower volume target compared with 2025, which the company attributes to mine sequencing and stream adjustments.
Management highlighted the drivers behind the results. CEO Sheldon Vanderkooy said the company “continued to build on its track record of delivering record GEOs performance, higher cash flow per share, and value‑accretive capital deployment, with over $350 million deployed in 2025.” CFO Eban Bari noted that operating cash flow per share “increased 45% to $1.54 per share, the single most important metric we focus on as management, best reflecting the underlying operating performance of our core streaming and royalty business.”
In pre‑market trading, the stock rose modestly, reflecting the EPS beat and record performance while the revenue miss of $2.22 million (2.2% below consensus) tempered a stronger reaction. Analysts cited the company’s debt‑free balance sheet, over $1 billion in liquidity, and the strategic investment in the E44 gold deposit at Northparkes as key factors supporting a positive outlook.
The results reinforce Triple Flag’s position as a leading streaming and royalty player with a strong cash‑flow profile and a debt‑free balance sheet. The company’s continued deployment of capital into high‑margin assets, coupled with a robust pipeline of advancing projects, positions it for sustained growth. The guidance and dividend reaffirm the company’s commitment to shareholder returns while maintaining flexibility to pursue strategic opportunities.
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