Franco-Nevada Corporation (FNV) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Franco-Nevada Corporation (FNV) stock price & volume — 10-year historical chart
Franco-Nevada Corporation (FNV) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Franco-Nevada Corporation (FNV) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 10, 2026 | $1.85vs $1.68+10.1% | $597Mvs $540M+10.7% |
| Q4 2025 | Nov 3, 2025 | $1.43vs $1.37+4.4% | $488Mvs $536M-9.0% |
| Q3 2025 | Aug 11, 2025 | $1.24vs $1.10+12.7% | $369Mvs $433M-14.7% |
| Q2 2025 | May 8, 2025 | $1.07vs $1.00+7.0% | $368Mvs $333M+10.5% |
Franco-Nevada Corporation (FNV) competitors in Gold royalty and streaming companies — business model, growth, and fundamentals comparison
Franco-Nevada Corporation (FNV) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Franco-Nevada Corporation (FNV) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 675M | 619.89M | 863.72M | 1.07B | 1.29B | 1.27B | 1.22B | 1.11B | 1.85B |
| Revenue Growth % | 10.62% | -8.16% | 39.34% | 23.65% | 20.68% | -1.85% | -3.64% | -8.65% | 66.42% |
| Cost of Goods Sold | 415M | 347.24M | 417.49M | 420.92M | 473.69M | 444.75M | 452.4M | 354.3M | 483.82M |
| COGS % of Revenue | 61.48% | 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 Expenses | 24.6M | 21.45M | 29.47M | 30.32M | 30.53M | 31.31M | 1.19B | 32.7M | 53.11M |
| OpEx % of Revenue | 3.64% | 3.46% | 3.41% | 2.84% | 2.37% | 2.47% | 98% | 2.94% | 2.87% |
| Selling, General & Admin | 24.9M | 21.45M | 29.47M | 30.32M | 30.53M | 31.31M | 27.9M | 34.6M | 53.11M |
| SG&A % of Revenue | 3.69% | 3.46% | 3.41% | 2.84% | 2.37% | 2.47% | 2.29% | 3.11% | 2.87% |
| Research & Development | 3.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 0.53% | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -3.9M | 0 | 0 | 0 | 0 | 0 | 1.17B | -1.9M | 0 |
| 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% |
| EBITDA | 508.4M | 486.27M | 686.09M | 870.48M | 1.08B | 1.06B | -154.9M | 951.9M | 1.63B |
| 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) | 273M | 235.07M | 269.32M | 253.73M | 296.96M | 274.86M | 273.1M | 225.3M | 312.07M |
| EBIT | 239.4M | 183.82M | 426.18M | 361.12M | 853.82M | 803.74M | -364.1M | 764M | 1.32B |
| Net Interest Income | 2.07M | -1.42M | -7.27M | 210.56K | 99.12K | 9.03M | 50.31M | 55.22M | 25.54M |
| Interest Income | 5.59M | 2.94M | 3.58M | 3.9M | 3.67M | 12.1M | 53.26M | 57.69M | 28.69M |
| Interest Expense | 3.52M | 4.37M | 10.85M | 3.68M | 3.57M | 3.07M | 2.95M | 2.48M | 3.15M |
| Other Income/Expense | 600K | -71.74M | -1.43M | -259.31M | 65.62M | 11.72M | 63.8M | 37.3M | 124.44M |
| 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 Tax | 41.3M | 47.55M | 63.24M | 14M | 123.01M | 127.83M | 102.2M | 211.8M | 309.22M |
| 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) | 194.7M | 131.91M | 352.1M | 343.43M | 727.24M | 672.84M | -466.4M | 552.1M | 1.13B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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) | 1.07 | 0.75 | 1.88 | 1.80 | 3.86 | 3.51 | -2.43 | 2.87 | 5.87 |
| Diluted Shares Outstanding | 182.39M | 185.47M | 188M | 190.7M | 191.5M | 191.9M | 192M | 192.6M | 193M |
| Basic Shares Outstanding | 181.99M | 185.17M | 187.7M | 190.3M | 191.1M | 191.5M | 192M | 192.4M | 192.7M |
| Dividend Payout Ratio | 64.61% | 103.18% | 39.25% | 45.1% | 24.7% | 29.37% | - | 43.91% | 24.74% |
Franco-Nevada Corporation (FNV) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 616.4M | 178.5M | 278.7M | 663.7M | 751.4M | 1.38B | 1.62B | 1.72B | 1.02B |
| Cash & Short-Term Investments | 511.1M | 69.7M | 132.1M | 534.2M | 539.3M | 1.2B | 1.42B | 1.45B | 669.68M |
| Cash Only | 511.1M | 69.7M | 132.1M | 534.2M | 539.3M | 1.2B | 1.42B | 1.45B | 433.11M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 236.57M |
| Accounts Receivable | 65.9M | 75.5M | 97.8M | 93.4M | 159.5M | 135.7M | 111M | 157.7M | 256.63M |
| Days Sales Outstanding | 35.63 | 44.46 | 41.33 | 31.92 | 45.17 | 39.15 | 33.24 | 51.69 | 50.54 |
| Inventory | 7.1M | 0 | 4.4M | 500K | 32.9M | 28.2M | 51.8M | 96.8M | 598.91K |
| Days Inventory Outstanding | 6.24 | - | 3.85 | 0.43 | 25.35 | 23.14 | 41.79 | 99.72 | 0.45 |
| Other Current Assets | 15.3M | 27.9M | 26.9M | 19.2M | 900K | 600K | 600K | 400K | 89.54M |
| Total Non-Current Assets | 4.17B | 4.75B | 5B | 4.93B | 5.46B | 5.24B | 4.38B | 4.61B | 7.21B |
| Property, Plant & Equipment | 3.95B | 4.57B | 4.81B | 4.64B | 5.16B | 4.93B | 4.03B | 4.11B | 6.04B |
| Fixed Asset Turnover | 0.17x | 0.14x | 0.18x | 0.23x | 0.25x | 0.26x | 0.30x | 0.27x | 0.31x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 203.1M | 136.7M | 145.6M | 195.6M | 235.1M | 224.6M | 246.4M | 324.8M | 1.14B |
| Other Non-Current Assets | 1.9M | 33M | 39.5M | 49M | 17.6M | 45M | 61.7M | 148.7M | 1.5M |
| 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 Turnover | 0.14x | 0.13x | 0.16x | 0.19x | 0.21x | 0.19x | 0.20x | 0.18x | 0.23x |
| Asset Growth % | 13.43% | 2.99% | 7.07% | 5.91% | 11.03% | 6.71% | -9.55% | 5.61% | 29.95% |
| Total Current Liabilities | 22.6M | 25M | 53.4M | 53.2M | 43.2M | 50.2M | 39.2M | 67.5M | 122.78M |
| Accounts Payable | 6.2M | 7.3M | 6.8M | 3.5M | 8.5M | 7M | 5.5M | 5.1M | 8.38M |
| Days Payables Outstanding | 5.45 | 7.67 | 5.95 | 3.04 | 6.55 | 5.74 | 4.44 | 5.25 | 6.33 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 36.43M |
| Current Ratio | 27.27x | 7.14x | 5.22x | 12.48x | 17.39x | 27.55x | 41.21x | 25.43x | 8.30x |
| Quick Ratio | 26.96x | 7.14x | 5.14x | 12.47x | 16.63x | 26.99x | 39.89x | 24.00x | 8.30x |
| Cash Conversion Cycle | 36.43 | - | 39.23 | 29.32 | 63.97 | 56.55 | 70.59 | 146.16 | 44.67 |
| Total Non-Current Liabilities | 60.3M | 274.9M | 165M | 95.9M | 141.5M | 159M | 185.8M | 266.3M | 482.22M |
| Long-Term Debt | 0 | 207.6M | 80M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 2.6M | 0 | 0 | 0 | 0 | 0 | 8.58M |
| Deferred Tax Liabilities | 60.3M | 67.3M | 82.4M | 91.5M | 135.4M | 153M | 180.1M | 238M | 439.9M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 4.4M | 6.1M | 6M | 5.7M | 28.3M | 33.74M |
| Total Liabilities | 82.9M | 299.9M | 218.4M | 149.1M | 184.7M | 209.2M | 225M | 333.8M | 605M |
| Total Debt | 0 | 207.6M | 82.6M | 0 | 0 | 0 | 0 | 0 | 8.58M |
| Net Debt | -511.1M | 137.9M | -49.5M | -534.2M | -539.3M | -1.2B | -1.42B | -1.45B | -424.53M |
| Debt / Equity | - | 0.04x | 0.02x | - | - | - | - | - | 0.00x |
| Debt / EBITDA | - | 0.43x | 0.12x | - | - | - | - | - | 0.01x |
| Net Debt / EBITDA | -1.01x | 0.28x | -0.07x | -0.61x | -0.50x | -1.12x | - | -1.52x | -0.26x |
| Interest Coverage | 66.83x | 57.54x | 38.42x | 167.37x | 219.89x | 256.72x | -144.93x | 293.56x | 417.32x |
| 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 Share | 25.80 | 24.97 | 26.93 | 28.55 | 31.46 | 33.44 | 30.05 | 31.13 | 39.49 |
| Total Shareholders' Equity | 4.71B | 4.63B | 5.06B | 5.44B | 6.03B | 6.42B | 5.77B | 6B | 7.62B |
| Common Stock | 5.11B | 5.16B | 5.39B | 5.58B | 5.63B | 5.7B | 5.73B | 5.77B | 5.79B |
| Retained Earnings | -310M | -321.7M | -164.4M | -34.4M | 484.9M | 940.4M | 212.3M | 486.5M | 1.38B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -106.5M | -220.3M | -178.3M | -115.9M | -104.3M | -233.7M | -192M | -282M | 429.72M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Franco-Nevada Corporation (FNV) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 488.6M | 474.8M | 617.7M | 803.9M | 955.4M | 999.5M | 991.2M | 829.5M | 1.52B |
| 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 Income | 194.7M | 139M | 344.1M | 326.2M | 733.7M | 700.6M | -466.4M | 552.1M | 1.13B |
| Depreciation & Amortization | 273M | 247.7M | 263.2M | 241M | 299.6M | 286.2M | 273.1M | 225.3M | 312.07M |
| Stock-Based Compensation | 4.6M | 5.2M | 4.9M | 5.6M | 8M | 8.2M | 5.5M | 5.4M | 0 |
| Deferred Taxes | 21.8M | 10M | 22.7M | -35.2M | 37.1M | 37.4M | 26.6M | 66.3M | 109.99M |
| Other Non-Cash Items | 1.5M | 68.5M | -3.4M | 265.3M | -92.7M | -22M | 1.15B | -41M | -2.24M |
| Working Capital Changes | -7M | 4.4M | -13.8M | 1M | -30.3M | -10.9M | 6.1M | 21.4M | -31.54M |
| Change in Receivables | 5.2M | -9.6M | -22.3M | 4.4M | -26.4M | -15.9M | 24.7M | -40.8M | -91.68M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | -8M | 15.6M | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64.92M |
| 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 Revenue | 74.25% | 159.64% | 51.54% | 29.27% | 59.01% | 11.19% | 42.79% | 36.64% | 120.61% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 42.7M | -11.7M | -78.1M | 116.1M |
| Cash from Financing | 239.7M | 77.6M | -119.8M | -91.8M | -180.2M | -189M | -230.1M | -240.4M | -272.08M |
| Debt Issued (Net) | 0 | 210M | -130M | -80M | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | 1000K | 1000K | 0 | 0 | 0 | 1000K | 1000K |
| Dividends Paid | -125.8M | -136.1M | -138.2M | -154.9M | -179.6M | -197.6M | -233M | -242.4M | -279.92M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 365.5M | 3.7M | 12.4M | 7.4M | -600K | 8.6M | 2.9M | -665.56K | 0 |
| 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 | -2.78 | 0.92 | 2.58 | 1.02 | 4.47 | 2.45 | 2.19 | -3.71 |
| FCF Conversion (FCF/Net Income) | 2.51x | 3.60x | 1.75x | 2.34x | 1.31x | 1.49x | -2.13x | 1.50x | 1.34x |
| Interest Paid | 2.4M | 3.7M | 9.5M | 2.4M | 2.4M | 2.4M | 2.3M | 2.1M | 0 |
| Taxes Paid | 38.2M | 28.5M | 38.6M | 51.2M | 93.5M | 95.1M | 88.1M | 73.8M | 0 |
Franco-Nevada Corporation (FNV) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 Margin | 37.79% | 38.52% | 43.98% | 51.66% | 60.59% | 63.25% | 64.84% | 62.89% | 68.18% | 73.89% |
| Net Margin | 20.03% | 28.84% | 21.28% | 40.77% | 32.16% | 56.43% | 53.19% | -38.26% | 49.58% | 61.06% |
| Debt / Equity | - | - | 0.04x | 0.02x | - | - | - | - | - | 0.00x |
| Interest Coverage | 43.69x | 66.83x | 57.54x | 38.42x | 167.37x | 219.89x | 256.72x | -144.93x | 293.56x | 417.32x |
| FCF Conversion | 3.85x | 2.51x | 3.60x | 1.75x | 2.34x | 1.31x | 1.49x | -2.13x | 1.50x | 1.34x |
| Revenue Growth | 37.56% | 10.62% | -8.16% | 39.34% | 23.65% | 20.68% | -1.85% | -3.64% | -8.65% | 66.42% |
Franco-Nevada Corporation (FNV) stock FAQ — growth, dividends, profitability & financials explained
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).
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.
Franco-Nevada Corporation (FNV) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates