Franco-Nevada Corporation (FNV) P/E Ratio History
Fairly ValuedTrading at 45.6x, near 5Y avg of 43.2x · 80th percentile · In line with own history · Data 2008–2026
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P/E Ratio Analysis
As of September 23, 2026, Franco-Nevada Corporation (FNV) trades at a price-to-earnings ratio of 45.6x, with a stock price of $267.20 and trailing twelve-month earnings per share of $7.65.
The current P/E is roughly in line with its 5-year average of 43.2x. Over the past five years, FNV's P/E has ranged from a low of 27.2x to a high of 100.4x, placing the current valuation at the 80th percentile of its historical range.
Compared to the Basic Materials sector median P/E of 22.7x, FNV trades at a 101% premium to its sector peers. The sector includes 123 companies with P/E ratios ranging from 0.4x to 159.7x.
The PEG ratio of 1.71 (P/E divided by 104% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, FNV commands a significant premium over the S&P 500 median P/E of 25.5x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our FNV DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
FNV Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
FNV P/E vs Peers
Gold royalty and streaming companies peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $70B | 46.8 | 2.07 | +181% | |
| $22B | 38.6 | 4.96 | +32% | |
| $7B | 33.8 | 0.55 | +1133%Best | |
| $134B | 19.9 | 1.55 | +124% | |
| $103B | 23.0 | 0.69 | +134% | |
| $34B | 14.4Lowest | 1.16 | +158% | |
| $15B | 17.3 | 0.42Best | +204% | |
| $10B | 17.9 | 0.66 | +78% | |
| $53B | 20.2 | 1.17 | +123% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
FNV Historical P/E Data (2008–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | - | $208.44 | $7.65 | 27.2x | -75% |
| FY2026 Q1 | - | $247.05 | $7.10 | 34.8x | -68% |
| FY2025 Q4 | Dec 31 2025 | $207.28 | $5.80 | 35.7x | -67% |
| FY2025 Q3 | - | $222.91 | $4.77 | 46.7x | -57% |
| FY2025 Q2 | Jun 30 2025 | $163.92 | $4.07 | 40.3x | -63% |
| FY2025 Q1 | Mar 31 2025 | $157.56 | $3.20 | 49.2x | -55% |
| FY2024 Q4 | - | $117.59 | $2.86 | 41.1x | -62% |
| FY2023 Q3 | Sep 30 2023 | $133.49 | $3.54 | 37.7x | -66% |
| FY2023 Q2 | Jun 30 2023 | $142.60 | $3.41 | 41.8x | -62% |
| FY2023 Q1 | Mar 31 2023 | $145.80 | $3.47 | 42.0x | -62% |
| FY2022 Q4 | Dec 31 2022 | $136.48 | $3.61 | 37.8x | -65% |
| FY2022 Q3 | Sep 30 2022 | $119.48 | $3.90 | 30.6x | -72% |
| FY2022 Q2 | - | $131.58 | $4.00 | 32.9x | -70% |
| FY2022 Q1 | - | $159.52 | $3.89 | 41.0x | -63% |
| FY2021 Q4 | Dec 31 2021 | $138.29 | $3.84 | 36.0x | -67% |
| FY2021 Q3 | - | $129.91 | $3.62 | 35.9x | -67% |
| FY2021 Q2 | Jun 30 2021 | $145.07 | $3.56 | 40.8x | -63% |
| FY2021 Q1 | Mar 31 2021 | $125.29 | $3.14 | 39.9x | -64% |
| FY2020 Q4 | - | $125.33 | $1.72 | 72.9x | -33% |
| FY2020 Q3 | Sep 30 2020 | $139.58 | $1.39 | 100.4x | -8% |
| FY2020 Q2 | - | $139.64 | $1.12 | 124.7x | +14% |
| FY2020 Q1 | - | $99.52 | $0.96 | 103.7x | -5% |
| FY2019 Q4 | - | $103.30 | $1.83 | 56.4x | -48% |
| FY2019 Q3 | Sep 30 2019 | $91.16 | $1.06 | 86.0x | -21% |
| FY2019 Q2 | Jun 30 2019 | $84.88 | $0.80 | 106.1x | -3% |
| FY2019 Q1 | Mar 31 2019 | $75.05 | $0.75 | 100.1x | -9% |
| FY2018 Q4 | Dec 31 2018 | $70.17 | $0.75 | 93.6x | -14% |
| FY2018 Q3 | Sep 30 2018 | $62.55 | $1.15 | 54.4x | -50% |
| FY2018 Q2 | Jun 30 2018 | $73.02 | $1.19 | 61.4x | -44% |
| FY2018 Q1 | Mar 31 2018 | $68.39 | $1.15 | 59.5x | -46% |
| FY2017 Q4 | Dec 31 2017 | $79.95 | $1.05 | 76.1x | -30% |
| FY2017 Q3 | Sep 30 2017 | $77.48 | $0.79 | 97.5x | -11% |
| FY2017 Q2 | Jun 30 2017 | $72.16 | $0.77 | 93.2x | -15% |
| FY2017 Q1 | Mar 31 2017 | $65.51 | $0.76 | 85.7x | -22% |
| FY2016 Q4 | Dec 31 2016 | $59.76 | $0.69 | 86.1x | -21% |
| FY2016 Q3 | Sep 30 2016 | $69.87 | $0.52 | 134.4x | +23% |
| FY2016 Q2 | - | $76.06 | $0.32 | 237.7x | +117% |
| FY2016 Q1 | - | $61.38 | $0.22 | 279.0x | +155% |
| FY2015 Q4 | - | $45.75 | $0.16 | 285.9x | +161% |
| FY2015 Q3 | Sep 30 2015 | $44.02 | $0.37 | 119.7x | +9% |
| FY2015 Q2 | - | $47.65 | $0.49 | 97.7x | -11% |
| FY2015 Q1 | - | $48.54 | $0.60 | 81.2x | -26% |
| FY2014 Q4 | Dec 31 2014 | $49.19 | $0.72 | 68.5x | -37% |
| FY2014 Q3 | - | $48.88 | $0.16 | 305.5x | +179% |
| FY2014 Q2 | Jun 30 2014 | $57.34 | $0.18 | 318.6x | +191% |
| FY2014 Q1 | Mar 31 2014 | $45.86 | $0.08 | 573.3x | +424% |
| FY2013 Q4 | - | $40.74 | $0.08 | 509.3x | +365% |
| FY2013 Q3 | Sep 30 2013 | $45.26 | $0.40 | 113.2x | +3% |
| FY2013 Q2 | Jun 30 2013 | $35.77 | $0.51 | 70.1x | -36% |
| FY2013 Q1 | Mar 31 2013 | $45.59 | $0.61 | 74.7x | -32% |
| FY2012 Q4 | Dec 31 2012 | $57.17 | $0.70 | 81.7x | -25% |
| FY2012 Q3 | Sep 30 2012 | $58.93 | $0.13 | 453.3x | +314% |
| FY2012 Q2 | Jun 30 2012 | $45.20 | $0.12 | 376.7x | +244% |
| FY2012 Q1 | Mar 31 2012 | $42.98 | $0.13 | 330.6x | +202% |
| FY2011 Q3 | Sep 30 2011 | $36.07 | $0.93 | 38.8x | -65% |
| FY2011 Q2 | - | $37.37 | $0.66 | 56.6x | -48% |
| FY2011 Q1 | - | $36.66 | $0.59 | 62.1x | -43% |
| FY2010 Q4 | Dec 31 2010 | $33.36 | $0.54 | 61.7x | -44% |
| FY2010 Q3 | - | $31.56 | $0.74 | 42.6x | -61% |
| FY2010 Q2 | Jun 30 2010 | $30.66 | $0.78 | 39.3x | -64% |
| FY2010 Q1 | Mar 31 2010 | $26.82 | $0.83 | 32.3x | -70% |
| FY2009 Q4 | - | $26.95 | $0.74 | 36.4x | -67% |
| FY2009 Q3 | Sep 30 2009 | $26.24 | $0.54 | 48.6x | -56% |
| FY2009 Q2 | - | $24.07 | $0.53 | 45.4x | -59% |
| FY2009 Q1 | - | $21.59 | $0.39 | 55.3x | -49% |
| FY2008 Q4 | Dec 31 2008 | $17.36 | $0.41 | 42.3x | -61% |
Average P/E for displayed period: 109.4x
FNV Chart Terminal
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Live Breakouts Feed
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
18+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
FNV — Frequently Asked Questions
Quick answers to the most common questions about buying FNV stock.
What is FNV's P/E ratio?
Franco-Nevada Corporation (FNV) trailing twelve-month P/E ratio is 45.6x, based on TTM diluted EPS of $7.65. The 5-year average P/E is 43.2x and the historical range spans 27.2x to 100.4x.
Is FNV stock overvalued or undervalued?
FNV trades at 45.6x P/E, near its 5-year average of 43.2x. The 80th percentile ranking within the 27.2x–100.4x historical range places valuation within normal bounds.
Is FNV stock expensive?
FNV is fairly valued relative to its own history. The current P/E of 45.6x is near the 5-year average of 43.2x (80th percentile of historical range).
What is FNV's historical P/E range?
Over the past 5 years, FNV's P/E ratio has ranged from 27.2x to 100.4x, with a median of 40.3x and an average of 43.2x. The current P/E of 45.6x places the stock at the 80th percentile of this range. Full historical data spans 2008–2026.
How does FNV's P/E compare to the S&P 500?
FNV trades at 45.6x P/E versus the S&P 500 median of 25.5x. The 79% premium to the market typically reflects higher expected earnings growth or quality.
How does FNV's valuation compare to Basic Materials peers?
Franco-Nevada Corporation P/E of 45.6x compares to the Basic Materials sector median of 22.7x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is FNV's PEG ratio?
FNV PEG ratio is 1.71, based on a P/E of 45.6x and EPS growth of 104.2%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is FNV's earnings yield?
FNV earnings yield is 2.19%, the inverse of its 45.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.