Franco-Nevada Corporation (FNV) Financial Ratios
19 years of historical data (2007–2025) · Basic Materials · Gold
EV/EBITDA
↑
26.38
+12% vs avg
5yr avg: 23.51
30Y Low13.7·High29.2
P/FCF
↓
N/A
—
5yr avg: 66.36
30Y Low19.0·High135.9
P/B Ratio
↑
5.70
↑+34% vs avg
5yr avg: 4.24
30Y Low1.0·High5.2
ROE
↑
16.6%
↓+99% vs avg
5yr avg: 8.4%
30Y Low-8%·High17%
Debt/EBITDA
0.01
+0% vs avg
5yr avg: 0.01
30Y Low0.0·High1.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FNV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Franco-Nevada Corporation trades at 38.4x earnings, roughly in line with its 5-year average of 37.9x, sitting at the 21st percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a premium of 73%.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $43.4B | $40.0B | $22.6B | $21.3B | $26.2B | $26.5B | $23.9B | $19.4B | $13.0B | $14.6B | $10.5B |
| Enterprise Value | $43.0B | $39.6B | $21.2B | $19.9B | $25.0B | $25.9B | $23.4B | $19.4B | $13.2B | $14.1B | $10.2B |
| P/E Ratio → | 38.41 | 35.37 | 40.97 | — | 38.88 | 36.39 | 69.63 | 55.24 | 93.56 | 74.72 | 86.61 |
| P/S Ratio | 23.41 | 21.59 | 20.34 | 17.45 | 20.70 | 20.55 | 22.38 | 22.48 | 21.00 | 21.60 | 17.19 |
| P/B Ratio | 5.70 | 5.25 | 3.78 | 3.69 | 4.08 | 4.40 | 4.39 | 3.84 | 2.81 | 3.10 | 2.53 |
| P/FCF | — | — | 53.73 | 45.31 | 30.53 | 135.88 | 48.65 | 112.58 | — | — | — |
| P/OCF | 28.55 | 26.32 | 27.30 | 21.46 | 26.20 | 27.72 | 29.73 | 31.44 | 27.41 | 29.84 | 22.27 |
P/E links to full P/E history page with 30-year chart
FNV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Franco-Nevada Corporation's enterprise value stands at 26.4x EBITDA, 12% above its 5-year average of 23.5x. The Basic Materials sector median is 11.0x, placing the stock at a 140% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 21.36 | 19.03 | 16.29 | 19.76 | 20.13 | 21.88 | 22.43 | 21.22 | 20.85 | 16.78 |
| EV / EBITDA | 26.38 | 24.31 | 22.27 | — | 23.49 | 23.99 | 26.84 | 28.23 | 27.05 | 27.68 | 23.85 |
| EV / EBIT | 32.64 | 30.07 | 27.74 | — | 31.10 | 30.38 | 64.70 | 45.45 | 71.55 | 58.78 | 59.69 |
| EV / FCF | — | — | 50.29 | 42.28 | 29.13 | 133.11 | 47.56 | 112.30 | — | — | — |
FNV Profitability
Margins and return-on-capital ratios measuring operating efficiency
Franco-Nevada Corporation earns an operating margin of 71.0%, significantly above the Basic Materials sector average of 9.2%. Operating margins have expanded from -35.1% to 71.0% over the past 3 years, signaling improving operational efficiency. ROE of 16.6% indicates solid capital efficiency. ROIC of 16.8% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.9% | 73.9% | 68.2% | 62.9% | 64.8% | 63.2% | 60.6% | 51.7% | 44.0% | 38.5% | 37.8% |
| Operating Margin | 71.0% | 71.0% | 65.2% | -35.1% | 62.4% | 60.9% | 57.7% | 48.3% | 40.5% | 34.9% | 25.5% |
| Net Profit Margin | 61.1% | 61.1% | 49.6% | -38.3% | 53.2% | 56.4% | 32.2% | 40.8% | 21.3% | 28.8% | 20.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.6% | 16.6% | 9.4% | -7.7% | 10.8% | 12.7% | 6.5% | 7.3% | 2.8% | 4.4% | 3.3% |
| ROA | 15.5% | 15.5% | 9.0% | -7.4% | 10.5% | 12.3% | 6.3% | 6.9% | 2.7% | 4.3% | 3.1% |
| ROIC | 16.8% | 16.8% | 12.3% | -6.7% | 11.1% | 11.3% | 9.3% | 6.4% | 4.2% | 4.4% | 3.2% |
| ROCE | 18.3% | 18.3% | 11.9% | -6.8% | 12.4% | 13.4% | 11.5% | 8.2% | 5.2% | 5.3% | 4.0% |
FNV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Franco-Nevada Corporation carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 2.5x). The company holds a net cash position — cash of $433M exceeds total debt of $9M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 417.3x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | — | — | — | — | — | 0.02 | 0.04 | — | — |
| Debt / EBITDA | 0.01 | 0.01 | — | — | — | — | — | 0.12 | 0.43 | — | — |
| Net Debt / Equity | — | -0.06 | -0.24 | -0.25 | -0.19 | -0.09 | -0.10 | -0.01 | 0.03 | -0.11 | -0.06 |
| Net Debt / EBITDA | -0.26 | -0.26 | -1.52 | — | -1.12 | -0.50 | -0.61 | -0.07 | 0.28 | -1.01 | -0.59 |
| Debt / FCF | — | — | -3.44 | -3.03 | -1.39 | -2.77 | -1.09 | -0.29 | — | — | — |
| Interest Coverage | 417.32 | 417.32 | 293.56 | -144.93 | 256.72 | 219.89 | 167.37 | 38.42 | 57.54 | 66.83 | 43.69 |
Net cash position: cash ($433M) exceeds total debt ($9M)
FNV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Franco-Nevada Corporation's current ratio of 8.30x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 41.21x to 8.30x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.30 | 8.30 | 25.43 | 41.21 | 27.55 | 17.39 | 12.48 | 5.22 | 7.14 | 27.27 | 9.61 |
| Quick Ratio | 8.30 | 8.30 | 24.00 | 39.89 | 26.99 | 16.63 | 12.47 | 5.14 | 7.14 | 26.96 | 9.53 |
| Cash Ratio | 5.45 | 5.45 | 21.50 | 36.27 | 23.83 | 12.48 | 10.04 | 2.47 | 2.79 | 22.62 | 6.73 |
| Asset Turnover | — | 0.23 | 0.18 | 0.20 | 0.19 | 0.21 | 0.19 | 0.16 | 0.13 | 0.14 | 0.14 |
| Inventory Turnover | 807.84 | 807.84 | 3.66 | 8.73 | 15.77 | 14.40 | 841.84 | 94.88 | — | 58.45 | 140.59 |
| Days Sales Outstanding | — | 50.54 | 51.69 | 33.24 | 39.15 | 45.17 | 31.92 | 41.33 | 44.46 | 35.63 | 42.53 |
FNV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Franco-Nevada Corporation returns 0.6% to shareholders annually primarily through dividends. The payout ratio of 24.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.7% | 1.1% | 1.1% | 0.8% | 0.7% | 0.6% | 0.7% | 1.0% | 0.9% | 1.1% |
| Payout Ratio | 24.7% | 24.7% | 43.9% | — | 29.4% | 24.7% | 45.1% | 39.3% | 103.2% | 64.6% | 96.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 2.8% | 2.4% | — | 2.6% | 2.7% | 1.4% | 1.8% | 1.1% | 1.3% | 1.2% |
| FCF Yield | — | — | 1.9% | 2.2% | 3.3% | 0.7% | 2.1% | 0.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.6% | 0.7% | 1.1% | 1.1% | 0.8% | 0.7% | 0.6% | 0.7% | 1.0% | 0.9% | 1.1% |
| Shares Outstanding | — | $193M | $193M | $192M | $192M | $192M | $191M | $188M | $185M | $182M | $176M |
Peer Comparison
Compare FNV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FNVYou | $43B | 38.4 | 26.4 | — | 73.9% | 71.0% | 16.6% | 16.8% | 0.0 |
 WPM | $57B | 38.1 | 28.9 | 99.1 | 72.2% | 68.8% | 18.8% | 17.4% | 0.0 |
 RGLD | $19B | 33.8 | 24.2 | 27.1 | — | 61.9% | 9.0% | 8.9% | 1.1 |
 OR | $7B | 32.3 | 27.0 | 31.6 | 83.4% | 72.9% | 18.3% | 14.1% | 0.0 |
 EMX | $453M | -144.4 | 61.6 | 136.6 | 72.1% | 4.0% | -2.8% | 0.6% | 4.6 |
 NEM | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 AEM | $89B | 20.1 | 10.9 | 20.9 | 58.1% | 53.1% | 19.6% | 21.9% | 0.0 |
 KGC | $35B | 14.5 | 7.8 | 13.4 | 47.5% | 43.2% | 31.0% | 29.9% | 0.2 |
 AGI | $16B | 18.5 | 15.6 | 60.2 | 54.3% | 44.5% | 22.2% | 15.9% | 0.2 |
 EGO | $6B | 11.7 | 6.0 | — | 44.9% | 41.5% | 12.6% | 13.3% | 1.2 |
 AU | $46B | 17.5 | 8.3 | 14.8 | 46.5% | 45.1% | 28.6% | 35.9% | 0.4 |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 19 years · Updated daily
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Start ComparisonFNV — Frequently Asked Questions
Quick answers to the most common questions about buying FNV stock.
What is Franco-Nevada Corporation's P/E ratio?
Franco-Nevada Corporation's current P/E ratio is 38.4x. The historical average is 58.6x. This places it at the 21th percentile of its historical range.
What is Franco-Nevada Corporation's EV/EBITDA?
Franco-Nevada Corporation's current EV/EBITDA is 26.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.0x.
What is Franco-Nevada Corporation's ROE?
Franco-Nevada Corporation's return on equity (ROE) is 16.6%. The historical average is 4.3%.
Is FNV stock overvalued?
Based on historical data, Franco-Nevada Corporation is trading at a P/E of 38.4x. This is at the 21th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Franco-Nevada Corporation's dividend yield?
Franco-Nevada Corporation's current dividend yield is 0.64% with a payout ratio of 24.7%.
What are Franco-Nevada Corporation's profit margins?
Franco-Nevada Corporation has 73.9% gross margin and 71.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Franco-Nevada Corporation have?
Franco-Nevada Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.