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FNV logoFranco-Nevada Corporation(FNV)Earnings, Financials & Key Ratios

FNV•NYSE
$225.07
$43.39B mkt cap·38.4× P/E·Price updated May 6, 2026
SectorBasic MaterialsIndustryGoldSub-IndustryGold royalty and streaming companies
AboutFranco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids. The company was founded in 1983 and is headquartered in Toronto, Canada.Show more
  • Revenue$1.85B+66.4%
  • EBITDA$1.63B+71.1%
  • Net Income$1.13B+105.0%
  • EPS (Diluted)5.86+104.2%
  • Gross Margin73.89%+8.4%
  • EBITDA Margin87.87%+2.8%
  • Operating Margin71.03%+8.9%
  • Net Margin61.06%+23.2%
  • ROE16.62%+77.1%
  • ROIC16.82%+37.2%
  • Debt/Equity0.00
  • Interest Coverage417.32+42.2%
Analysis→Technical→

FNV Key Insights

Franco-Nevada Corporation (FNV) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 26.9%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓11 consecutive years of dividend growth
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 11.7%

✗Weaknesses

  • ✗Negative free cash flow
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FNV Price & Volume

Franco-Nevada Corporation (FNV) stock price & volume — 10-year historical chart

Loading chart...

FNV Growth Metrics

Franco-Nevada Corporation (FNV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years15.37%
5 Years11.65%
3 Years13.58%
TTM64.36%

Profit CAGR

10 Years46.65%
5 Years26.93%
3 Years18.92%
TTM102.45%

EPS CAGR

10 Years43.34%
5 Years26.63%
3 Years18.63%
TTM102.8%

Return on Capital

10 Years8.33%
5 Years9.84%
3 Years7.8%
Last Year18.33%

FNV Recent Earnings

Franco-Nevada Corporation (FNV) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
Mar 10, 2026
EPS
$1.85
Est $1.68
+10.1%
Revenue
$597M
Est $540M
+10.7%
Q4 2025
Nov 3, 2025
EPS
$1.43
Est $1.37
+4.4%
Revenue
$488M
Est $536M
-9.0%
Q3 2025
Aug 11, 2025
EPS
$1.24
Est $1.10
+12.7%
Revenue
$369M
Est $433M
-14.7%
Q2 2025
May 8, 2025
EPS
$1.07
Est $1.00
+7.0%
Revenue
$368M
Est $333M
+10.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 10, 2026
$1.85vs $1.68+10.1%
$597Mvs $540M+10.7%
Q4 2025Nov 3, 2025
$1.43vs $1.37+4.4%
$488Mvs $536M-9.0%
Q3 2025Aug 11, 2025
$1.24vs $1.10+12.7%
$369Mvs $433M-14.7%
Q2 2025May 8, 2025
$1.07vs $1.00+7.0%
$368Mvs $333M+10.5%
Based on last 12 quarters of dataView full earnings history →

FNV Peer Comparison

Franco-Nevada Corporation (FNV) competitors in Gold royalty and streaming companies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
WPM logoWPMWheaton Precious Metals Corp.Direct Competitor56.87B125.2438.0783.33%63.59%18.53%1.01%0.00
RGLD logoRGLDRoyal Gold, Inc.Direct Competitor19.09B225.9033.7744.57%45.33%6.47%3.69%0.12
OR logoOROR Royalties Inc.Direct Competitor6.78B36.0932.26102.58%74.05%11.82%3.16%0.01
EMX logoEMXEMX Royalty CorporationDirect Competitor453.29M4.16-144.4417.34%18.07%4.15%0.73%0.30
NEM logoNEMNewmont CorporationProduct Competitor120.78B109.0117.0119.08%30.54%15.58%6.04%0.01
AEM logoAEMAgnico Eagle Mines LimitedProduct Competitor89.25B178.1420.1143.71%37.48%19.25%4.78%0.01
KGC logoKGCKinross Gold CorporationProduct Competitor34.5B28.8114.4839.34%36.04%33.95%7.44%0.09
AGI logoAGIAlamos Gold Inc.Product Competitor16.33B38.8818.5134.57%51.4%25.24%1.66%0.05

Compare FNV vs Peers

Franco-Nevada Corporation (FNV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs WPM

Most directly comparable listed peer for FNV.

Scale Benchmark

vs NEM

Larger-name benchmark to compare FNV against a more recognizable public peer.

Peer Set

Compare Top 5

vs WPM, RGLD, OR, EMX

FNV Income Statement

Franco-Nevada Corporation (FNV) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue675M619.89M863.72M1.07B1.29B1.27B1.22B1.11B1.85B
Revenue Growth %10.62%-8.16%39.34%23.65%20.68%-1.85%-3.64%-8.65%66.42%
Cost of Goods Sold415M347.24M417.49M420.92M473.69M444.75M452.4M354.3M483.82M
COGS % of Revenue61.48%56.02%48.34%39.41%36.75%35.16%37.11%31.82%26.11%
Gross Profit
260M▲ 0%
272.65M▲ 4.9%
446.24M▲ 63.7%
647.07M▲ 45.0%
815.16M▲ 26.0%
820.26M▲ 0.6%
766.6M▼ 6.5%
759.3M▼ 1.0%
1.37B▲ 80.4%
Gross Margin %38.52%43.98%51.66%60.59%63.25%64.84%62.89%68.18%73.89%
Gross Profit Growth %12.75%4.86%63.67%45%25.98%0.63%-6.54%-0.95%80.36%
Operating Expenses24.6M21.45M29.47M30.32M30.53M31.31M1.19B32.7M53.11M
OpEx % of Revenue3.64%3.46%3.41%2.84%2.37%2.47%98%2.94%2.87%
Selling, General & Admin24.9M21.45M29.47M30.32M30.53M31.31M27.9M34.6M53.11M
SG&A % of Revenue3.69%3.46%3.41%2.84%2.37%2.47%2.29%3.11%2.87%
Research & Development3.6M00000000
R&D % of Revenue0.53%--------
Other Operating Expenses-3.9M000001.17B-1.9M0
Operating Income
235.4M▲ 0%
251.2M▲ 6.7%
416.77M▲ 65.9%
616.75M▲ 48.0%
784.63M▲ 27.2%
788.95M▲ 0.5%
-428M▼ 154.2%
726.6M▲ 269.8%
1.32B▲ 81.2%
Operating Margin %34.87%40.52%48.25%57.75%60.88%62.37%-35.11%65.25%71.03%
Operating Income Growth %51.48%6.71%65.91%47.98%27.22%0.55%-154.25%269.77%81.17%
EBITDA508.4M486.27M686.09M870.48M1.08B1.06B-154.9M951.9M1.63B
EBITDA Margin %75.32%78.44%79.43%81.51%83.92%84.1%-12.71%85.48%87.87%
EBITDA Growth %18.45%-4.35%41.09%26.88%24.25%-1.64%-114.56%714.53%71.07%
D&A (Non-Cash Add-back)273M235.07M269.32M253.73M296.96M274.86M273.1M225.3M312.07M
EBIT239.4M183.82M426.18M361.12M853.82M803.74M-364.1M764M1.32B
Net Interest Income2.07M-1.42M-7.27M210.56K99.12K9.03M50.31M55.22M25.54M
Interest Income5.59M2.94M3.58M3.9M3.67M12.1M53.26M57.69M28.69M
Interest Expense3.52M4.37M10.85M3.68M3.57M3.07M2.95M2.48M3.15M
Other Income/Expense600K-71.74M-1.43M-259.31M65.62M11.72M63.8M37.3M124.44M
Pretax Income
236M▲ 0%
179.46M▼ 24.0%
415.34M▲ 131.4%
357.43M▼ 13.9%
850.25M▲ 137.9%
800.67M▼ 5.8%
-364.2M▼ 145.5%
763.9M▲ 309.7%
1.44B▲ 88.6%
Pretax Margin %34.96%28.95%48.09%33.47%65.97%63.29%-29.88%68.6%77.74%
Income Tax41.3M47.55M63.24M14M123.01M127.83M102.2M211.8M309.22M
Effective Tax Rate %17.5%26.49%15.23%3.92%14.47%15.96%-28.06%27.73%21.46%
Net Income
194.7M▲ 0%
131.91M▼ 32.2%
352.1M▲ 166.9%
343.43M▼ 2.5%
727.24M▲ 111.8%
672.84M▼ 7.5%
-466.4M▼ 169.3%
552.1M▲ 218.4%
1.13B▲ 105.0%
Net Margin %28.84%21.28%40.77%32.16%56.43%53.19%-38.26%49.58%61.06%
Net Income Growth %59.33%-32.25%166.92%-2.46%111.76%-7.48%-169.32%218.37%104.96%
Net Income (Continuing)194.7M131.91M352.1M343.43M727.24M672.84M-466.4M552.1M1.13B
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
1.07▲ 0%
0.75▼ 29.9%
1.87▲ 149.3%
1.80▼ 3.7%
3.80▲ 111.1%
3.51▼ 7.6%
-2.43▼ 169.2%
2.87▲ 218.1%
5.86▲ 104.2%
EPS Growth %55.07%-29.91%149.33%-3.74%111.11%-7.63%-169.23%218.11%104.18%
EPS (Basic)1.070.751.881.803.863.51-2.432.875.87
Diluted Shares Outstanding182.39M185.47M188M190.7M191.5M191.9M192M192.6M193M
Basic Shares Outstanding181.99M185.17M187.7M190.3M191.1M191.5M192M192.4M192.7M
Dividend Payout Ratio64.61%103.18%39.25%45.1%24.7%29.37%-43.91%24.74%

FNV Balance Sheet

Franco-Nevada Corporation (FNV) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets616.4M178.5M278.7M663.7M751.4M1.38B1.62B1.72B1.02B
Cash & Short-Term Investments511.1M69.7M132.1M534.2M539.3M1.2B1.42B1.45B669.68M
Cash Only511.1M69.7M132.1M534.2M539.3M1.2B1.42B1.45B433.11M
Short-Term Investments00000000236.57M
Accounts Receivable65.9M75.5M97.8M93.4M159.5M135.7M111M157.7M256.63M
Days Sales Outstanding35.6344.4641.3331.9245.1739.1533.2451.6950.54
Inventory7.1M04.4M500K32.9M28.2M51.8M96.8M598.91K
Days Inventory Outstanding6.24-3.850.4325.3523.1441.7999.720.45
Other Current Assets15.3M27.9M26.9M19.2M900K600K600K400K89.54M
Total Non-Current Assets4.17B4.75B5B4.93B5.46B5.24B4.38B4.61B7.21B
Property, Plant & Equipment3.95B4.57B4.81B4.64B5.16B4.93B4.03B4.11B6.04B
Fixed Asset Turnover0.17x0.14x0.18x0.23x0.25x0.26x0.30x0.27x0.31x
Goodwill000000000
Intangible Assets000000000
Long-Term Investments203.1M136.7M145.6M195.6M235.1M224.6M246.4M324.8M1.14B
Other Non-Current Assets1.9M33M39.5M49M17.6M45M61.7M148.7M1.5M
Total Assets
4.79B▲ 0%
4.93B▲ 3.0%
5.28B▲ 7.1%
5.59B▲ 5.9%
6.21B▲ 11.0%
6.63B▲ 6.7%
5.99B▼ 9.5%
6.33B▲ 5.6%
8.23B▲ 30.0%
Asset Turnover0.14x0.13x0.16x0.19x0.21x0.19x0.20x0.18x0.23x
Asset Growth %13.43%2.99%7.07%5.91%11.03%6.71%-9.55%5.61%29.95%
Total Current Liabilities22.6M25M53.4M53.2M43.2M50.2M39.2M67.5M122.78M
Accounts Payable6.2M7.3M6.8M3.5M8.5M7M5.5M5.1M8.38M
Days Payables Outstanding5.457.675.953.046.555.744.445.256.33
Short-Term Debt000000000
Deferred Revenue (Current)000000000
Other Current Liabilities0000000036.43M
Current Ratio27.27x7.14x5.22x12.48x17.39x27.55x41.21x25.43x8.30x
Quick Ratio26.96x7.14x5.14x12.47x16.63x26.99x39.89x24.00x8.30x
Cash Conversion Cycle36.43-39.2329.3263.9756.5570.59146.1644.67
Total Non-Current Liabilities60.3M274.9M165M95.9M141.5M159M185.8M266.3M482.22M
Long-Term Debt0207.6M80M000000
Capital Lease Obligations002.6M000008.58M
Deferred Tax Liabilities60.3M67.3M82.4M91.5M135.4M153M180.1M238M439.9M
Other Non-Current Liabilities0004.4M6.1M6M5.7M28.3M33.74M
Total Liabilities82.9M299.9M218.4M149.1M184.7M209.2M225M333.8M605M
Total Debt0207.6M82.6M000008.58M
Net Debt-511.1M137.9M-49.5M-534.2M-539.3M-1.2B-1.42B-1.45B-424.53M
Debt / Equity-0.04x0.02x-----0.00x
Debt / EBITDA-0.43x0.12x-----0.01x
Net Debt / EBITDA-1.01x0.28x-0.07x-0.61x-0.50x-1.12x--1.52x-0.26x
Interest Coverage66.83x57.54x38.42x167.37x219.89x256.72x-144.93x293.56x417.32x
Total Equity
4.71B▲ 0%
4.63B▼ 1.6%
5.06B▲ 9.3%
5.44B▲ 7.5%
6.03B▲ 10.7%
6.42B▲ 6.5%
5.77B▼ 10.1%
6B▲ 3.9%
7.62B▲ 27.1%
Equity Growth %13.48%-1.56%9.29%7.54%10.68%6.51%-10.11%3.94%27.1%
Book Value per Share25.8024.9726.9328.5531.4633.4430.0531.1339.49
Total Shareholders' Equity4.71B4.63B5.06B5.44B6.03B6.42B5.77B6B7.62B
Common Stock5.11B5.16B5.39B5.58B5.63B5.7B5.73B5.77B5.79B
Retained Earnings-310M-321.7M-164.4M-34.4M484.9M940.4M212.3M486.5M1.38B
Treasury Stock000000000
Accumulated OCI-106.5M-220.3M-178.3M-115.9M-104.3M-233.7M-192M-282M429.72M
Minority Interest000000000

FNV Cash Flow Statement

Franco-Nevada Corporation (FNV) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations488.6M474.8M617.7M803.9M955.4M999.5M991.2M829.5M1.52B
Operating CF Margin %72.39%76.59%71.52%75.27%74.13%79.01%81.31%74.49%82.01%
Operating CF Growth %3.74%-2.82%30.1%30.14%18.85%4.62%-0.83%-16.31%83.22%
Net Income194.7M139M344.1M326.2M733.7M700.6M-466.4M552.1M1.13B
Depreciation & Amortization273M247.7M263.2M241M299.6M286.2M273.1M225.3M312.07M
Stock-Based Compensation4.6M5.2M4.9M5.6M8M8.2M5.5M5.4M0
Deferred Taxes21.8M10M22.7M-35.2M37.1M37.4M26.6M66.3M109.99M
Other Non-Cash Items1.5M68.5M-3.4M265.3M-92.7M-22M1.15B-41M-2.24M
Working Capital Changes-7M4.4M-13.8M1M-30.3M-10.9M6.1M21.4M-31.54M
Change in Receivables5.2M-9.6M-22.3M4.4M-26.4M-15.9M24.7M-40.8M-91.68M
Change in Inventory000000-8M15.6M0
Change in Payables0000000064.92M
Cash from Investing-500.9M-988.7M-436.1M-309M-765M-145.5M-541.1M-537.3M-2.07B
Capital Expenditures-501.2M-989.6M-445.2M-312.6M-760.5M-141.5M-521.6M-408M-2.24B
CapEx % of Revenue74.25%159.64%51.54%29.27%59.01%11.19%42.79%36.64%120.61%
Acquisitions000000000
Investments---------
Other Investing0000042.7M-11.7M-78.1M116.1M
Cash from Financing239.7M77.6M-119.8M-91.8M-180.2M-189M-230.1M-240.4M-272.08M
Debt Issued (Net)0210M-130M-80M00000
Equity Issued (Net)001000K1000K0001000K1000K
Dividends Paid-125.8M-136.1M-138.2M-154.9M-179.6M-197.6M-233M-242.4M-279.92M
Share Repurchases000000000
Other Financing365.5M3.7M12.4M7.4M-600K8.6M2.9M-665.56K0
Net Change in Cash
258.1M▲ 0%
-441.4M▼ 271.0%
62.4M▲ 114.1%
402.1M▲ 544.4%
5.1M▼ 98.7%
657.2M▲ 12786.3%
225.4M▼ 65.7%
29.4M▼ 87.0%
-354.52M▼ 1305.9%
Free Cash Flow
-12.6M▲ 0%
-514.8M▼ 3985.7%
172.5M▲ 133.5%
491.3M▲ 184.8%
194.9M▼ 60.3%
858M▲ 340.2%
469.6M▼ 45.3%
421.5M▼ 10.2%
-715.31M▼ 269.7%
FCF Margin %-1.87%-83.05%19.97%46%15.12%67.83%38.52%37.85%-38.6%
FCF Growth %95.44%-3985.71%133.51%184.81%-60.33%340.23%-45.27%-10.24%-269.7%
FCF per Share-0.07-2.780.922.581.024.472.452.19-3.71
FCF Conversion (FCF/Net Income)2.51x3.60x1.75x2.34x1.31x1.49x-2.13x1.50x1.34x
Interest Paid2.4M3.7M9.5M2.4M2.4M2.4M2.3M2.1M0
Taxes Paid38.2M28.5M38.6M51.2M93.5M95.1M88.1M73.8M0

FNV Key Ratios

Franco-Nevada Corporation (FNV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)3.34%4.4%2.83%7.26%6.54%12.68%10.81%-7.65%9.38%16.62%
Return on Invested Capital (ROIC)3.17%4.37%4.2%6.39%9.32%11.32%11.05%-6.71%12.26%16.82%
Gross Margin37.79%38.52%43.98%51.66%60.59%63.25%64.84%62.89%68.18%73.89%
Net Margin20.03%28.84%21.28%40.77%32.16%56.43%53.19%-38.26%49.58%61.06%
Debt / Equity--0.04x0.02x-----0.00x
Interest Coverage43.69x66.83x57.54x38.42x167.37x219.89x256.72x-144.93x293.56x417.32x
FCF Conversion3.85x2.51x3.60x1.75x2.34x1.31x1.49x-2.13x1.50x1.34x
Revenue Growth37.56%10.62%-8.16%39.34%23.65%20.68%-1.85%-3.64%-8.65%66.42%

FNV Frequently Asked Questions

Franco-Nevada Corporation (FNV) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Franco-Nevada Corporation (FNV) reported $1.83B in revenue for fiscal year 2025. This represents a 55687% increase from $3.3M in 2007.

Franco-Nevada Corporation (FNV) grew revenue by 66.4% over the past year. This is strong growth.

Yes, Franco-Nevada Corporation (FNV) is profitable, generating $1.12B in net income for fiscal year 2025 (61.1% net margin).

Dividend & Returns

Yes, Franco-Nevada Corporation (FNV) pays a dividend with a yield of 0.64%. This makes it attractive for income-focused investors.

Franco-Nevada Corporation (FNV) has a return on equity (ROE) of 16.6%. This is reasonable for most industries.

Franco-Nevada Corporation (FNV) had negative free cash flow of $695.4M in fiscal year 2025, likely due to heavy capital investments.

Explore More FNV

Franco-Nevada Corporation (FNV) financial analysis — history, returns, DCA and operating performance tools

Full FNV Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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