Osisko Gold Royalties Ltd. (0VBE) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Osisko Gold Royalties Ltd. $39.83, price $34.21, upside +16.4%, quality 75 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $6.90 – $46.79 · fair‑value band $22.30 – $64.84 · the $34.21 price screens below the $39.83 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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OR Royalties Inc. acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects.
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OR Royalties Inc. acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company's primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada. In addition, it is involved in the exploration, evaluation, and development of mining properties. It primarily explores precious metals, including gold, silver, copper, diamond, and others. The company was formerly known as Osisko Gold Royalties Ltd and changed its name to OR Royalties Inc. in May 2025. OR Royalties Inc. was founded in 2014 and is headquartered in Montreal, Canada.
Stock analysis
Osisko Gold Royalties Ltd. (0VBE) currently trades at $34.21, while our model-based Fair Value estimate is $39.83, implying the stock looks roughly 14.1% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $49.92 per share, and 10 of the 25 models we run sit above the $34.21 price.
Bear case: the Dividend Discount group reads lowest at $4.71, and 15 of the 25 models stay below the price. Evidence for this calculation is medium.
Scenario range: $22.30 (bear) to $64.84 (bull), the price of $34.21 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 75/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Osisko Gold Royalties Ltd. reported revenue of $387M in FY2025 versus $225M in FY2021, a compound +14.6%/yr. Reported net income was $288M in FY2025, compounding +27.2%/yr from FY2021.
Key figures
Market cap $6.5B · EPS (TTM) $−0.1550 · Dividend yield 0.6% · Net margin 74.3% · Return on equity 18.9% · Return on assets (EBIT) 6.9% · Operating margin 85.4% · Revenue (TTM) $325M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −40% fair-value upside, at 16%, 0VBE screens cheaper than that median.
Fair Value models
Bear $22.30Fair Value $39.83Bull $64.84
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.97/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+40.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.6%
Start year 2020 (pandemic). Over 10 years: +23.9% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+32.7%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+25.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.0%
Dividend (yield on the price)0.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.32.0% vs 15.4%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 73%
2025 sits 219% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +17.8% a year for the price.
Compare Osisko Gold Royalties Ltd. with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Gold Royalties” was too small, so the broader sector is used.)Industrials · 5311 stocks
Beats the sector median on 7/13 measures
A mixed picture versus its sector peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+17.4% · Above median
Profitability
Return on equity (TTM)18.9% · Top 25%
Return on assets10.3% · Top 25%
Net margin (TTM)78.1% · Top 25%
Operating margin (TTM)85.4% · Top 25%
Growth and dividend
Revenue growth87.3% · Top 25%
Dividend yield (TTM)0.6% · Bottom 25%
Balance sheet
Debt / equity0.18× · Above median
Valuation Multiplesvs Industrials median · lower = cheaper
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Is Osisko Gold Royalties Ltd. (0VBE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $39.83 versus a price of $34.21, about +16% upside (undervalued).
What is the fair value of 0VBE?
Our model-based fair value for Osisko Gold Royalties Ltd. is $39.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: $34.21.
What is the quality score of 0VBE?
Osisko Gold Royalties Ltd. has a Quality Score of 75/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Osisko Gold Royalties Ltd. (0VBE)?
Our model-based price target is the fair value of $39.83 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario $22.30, optimistic scenario $64.84. It is a calculation from audited fundamentals, not an analyst target.
What is the Osisko Gold Royalties Ltd. stock forecast for 2026?
Our models put fair value at $39.83, about +16% upside versus a price of $34.21 (undervalued). Cautious scenario $22.30, optimistic scenario $64.84. The calculation is refreshed regularly with new filings.
What is the revenue of Osisko Gold Royalties Ltd. (0VBE)?
Osisko Gold Royalties Ltd. reported trailing-twelve-month revenue of about $325M (latest available figure, as of Sep 24, 2026).
Does Osisko Gold Royalties Ltd. pay a dividend?
Osisko Gold Royalties Ltd. currently shows a dividend yield of about 0.64% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Osisko Gold Royalties Ltd. (0VBE)?
For today's price to be fair in a discounted-cash-flow model, Osisko Gold Royalties Ltd. would have to grow free cash flow by +20.6 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +12.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0VBE use?
Our models discount Osisko Gold Royalties Ltd. at 11.0 %: a base by market capitalisation (unknown), damped by beta 1.30, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Osisko Gold Royalties Ltd. that is +20.6 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Osisko Gold Royalties Ltd. (0VBE) delivered so far?
Over the past 5 years revenue at Osisko Gold Royalties Ltd. grew +12.6 % a year. The price currently implies +20.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Osisko Gold Royalties Ltd. (0VBE) growing?
The median revenue growth in the sector is +7.3 % a year. That is the yardstick for the growth priced into Osisko Gold Royalties Ltd. (+20.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Osisko Gold Royalties Ltd. (0VBE)?
The free-cash-flow yield on the price is 3.40 %: that much free cash flow Osisko Gold Royalties Ltd. produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Osisko Gold Royalties Ltd. (0VBE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Osisko Gold Royalties Ltd. it is $39.83 per share (as of Sep 24, 2026), against a price of $34.21. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Osisko Gold Royalties Ltd. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0VBE trades below its calculated fair value: price $34.21, fair value $39.83, a gap of about +16% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0VBE?
No. The price is what the market pays today ($34.21); the fair value is what the company's own numbers justify ($39.83). For Osisko Gold Royalties Ltd. the two are $5.62 per share apart. That gap is exactly why we show both numbers side by side.
How much is Osisko Gold Royalties Ltd. worth?
The market values Osisko Gold Royalties Ltd. at about $6.5B (market capitalisation, as of Sep 24, 2026). Per share that is $34.21; our models calculate a fair value of $39.83 per share.
What do the bullish and bearish scenarios say about 0VBE?
Our models span a range for Osisko Gold Royalties Ltd.: cautious scenario $22.30, base $39.83, optimistic $64.84 per share (as of Sep 24, 2026, price $34.21). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Osisko Gold Royalties Ltd. (0VBE)?
Balance-sheet figures for Osisko Gold Royalties Ltd. (as of Sep 24, 2026): return on equity 18.9%, debt of 0.18 per unit of equity. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is 0VBE from its 52-week high?
Osisko Gold Royalties Ltd. trades at $34.21, about 27% below its 52-week high of $46.79 and 23% above the low of $27.88 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $39.83 is for.
Which stocks are comparable to Osisko Gold Royalties Ltd.?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, Samsung C&T Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Osisko Gold Royalties Ltd. stock attractive at the current price?
The data as of Sep 24, 2026: price $34.21, calculated fair value $39.83 (+16%), Quality Score 75/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0VBE calculated?
We run Osisko Gold Royalties Ltd. through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $39.83, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Osisko Gold Royalties Ltd. currently trades 14 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Osisko Gold Royalties Ltd. (0VBE)?
The closing price on Oct 2, 2026 was $34.21. Our model-based fair value is $39.83, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Osisko Gold Royalties Ltd. right now?
The model range is unusually wide ($22.30 to $64.84). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Osisko Gold Royalties Ltd. (0VBE) come from?
Earnings per share at Osisko Gold Royalties Ltd. grew +9.5 % a year from 2015 to 2025. Broken into its drivers: revenue per share +13.6 %, EBIT margin +4.0 %, tax rate +0.3 %, residual (interest, one-offs) −7.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Osisko Gold Royalties Ltd.
How large is the market capitalisation of Osisko Gold Royalties Ltd. (0VBE)?
The market capitalisation of Osisko Gold Royalties Ltd. is $6.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of Osisko Gold Royalties Ltd. (0VBE)?
Earnings per share at Osisko Gold Royalties Ltd. are $−0.1550. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Osisko Gold Royalties Ltd. (0VBE)?
The dividend yield of Osisko Gold Royalties Ltd. is 0.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Osisko Gold Royalties Ltd. (0VBE)?
The net margin of Osisko Gold Royalties Ltd. is 74.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Osisko Gold Royalties Ltd. (0VBE)?
The return on equity (ROE) of Osisko Gold Royalties Ltd. is 18.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Osisko Gold Royalties Ltd. (0VBE)?
On an EBIT basis the return on assets of Osisko Gold Royalties Ltd. is 6.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Osisko Gold Royalties Ltd. (0VBE)?
The operating margin of Osisko Gold Royalties Ltd. is 85.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Osisko Gold Royalties Ltd. (0VBE)?
Revenue at Osisko Gold Royalties Ltd. is growing +87.3% versus a year earlier (3y avg +21.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Osisko Gold Royalties Ltd. (0VBE)?
Earnings per share at Osisko Gold Royalties Ltd. are growing +184% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Osisko Gold Royalties Ltd. (0VBE) hold?
Osisko Gold Royalties Ltd. holds more cash than debt, $183M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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