Franco-Nevada Corp (FNV)

Franco-Nevada Corporation operates as a royalty and stream company focused on precious metals in South America, Central America, Mexico, the United States, Canada, Australia, Europe, and Africa. The company operates through Precious Metals, Other Mining and Energy segments. It also manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent. Franco-Nevada Corporation was founded in 1986 and is headquartered in Toronto, Canada.

Ticker: FNV
Exchange: NYSE
Sector: Basic Materials
Industry: Gold
Market cap: $49.17B
52-week range: $187.19 - $285.67

Valuation

Share price: $254.95 (close of Nov 6, 2026)
P/E (TTM): 33.24x
Price to book: 5.97x
Price to free cash flow: 32.96x
Enterprise value: $48.16B
Book value per share: $42.73

Price performance

Period	Change
1 day	+1.70%
5 days	+13.34%
1 month	+4.50%
3 months	+10.33%
6 months	+8.72%
Year to date	+23.00%
1 year	+35.53%
3 years	+104.89%
5 years	+78.30%
10 years	+278.32%
All time	+1,594.02%

Short interest

As of: Oct 15, 2026
Short % of float: 2.31%
Shares short: 4.45M
Days to cover: 7.98
Change since prior report: -4.22%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: 14.57%
Return on invested capital: 13.76%
Return on assets: 13.49%
Return on capital employed: 16.68%
Gross margin: 73.91%
Net margin: 61.01%
EBITDA margin: 91.12%
Revenue growth: 63.69%
Net income growth: 101.43%
Free cash flow growth: 79.83%

Cash flow and balance sheet

Free cash flow yield (TTM): 3.03%
Current ratio: 9.38x
Net debt to EBITDA: -0.46x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $1.82B
Cost of revenue: $475.50M
Gross profit: $1.35B
EBITDA: $1.66B
Net income: $1.11B
Earnings per share: $5.77
Interest expense: $3.10M
Shares outstanding: 192.70M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$1.82B	$1.35B	$1.11B	$5.77
2024-12-31	$1.11B	$759.30M	$552.10M	$2.87
2023-12-31	$1.22B	$766.60M	-$466.40M	-$2.43
2022-12-31	$1.32B	$852.60M	$700.60M	$3.66
2021-12-31	$1.30B	$822.10M	$733.70M	$3.84
2020-12-31	$1.02B	$620.40M	$326.20M	$1.71
2019-12-31	$844.10M	$436.10M	$344.10M	$1.83
2018-12-31	$653.20M	$287.30M	$139.00M	$0.75
2017-12-31	$675.00M	$260.00M	$194.70M	$1.06
2016-12-31	$610.20M	$230.60M	$122.20M	$0.70

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	73.91%	61.01%	14.57%	13.76%
2024-12-31	68.18%	49.58%	9.21%	8.58%
2023-12-31	62.89%	-38.26%	-8.08%	-7.42%
2022-12-31	64.80%	53.25%	10.92%	10.71%
2021-12-31	63.24%	56.44%	12.18%	12.23%
2020-12-31	60.81%	31.97%	5.99%	5.94%
2019-12-31	51.66%	40.77%	6.80%	6.77%
2018-12-31	43.98%	21.28%	3.00%	2.87%
2017-12-31	38.52%	28.84%	4.14%	4.12%
2016-12-31	37.79%	20.03%	2.95%	2.65%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$670.90M	-
2024-12-31	$1.45B	-
2023-12-31	$1.42B	-
2022-12-31	$1.20B	-
2021-12-31	$539.30M	-
2020-12-31	$534.20M	-
2019-12-31	$132.10M	$80.00M
2018-12-31	$69.70M	$207.60M
2017-12-31	$511.10M	-
2016-12-31	$253.00M	-

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.49B	$6.30M
2024-12-31	$829.30M	$5.40M
2023-12-31	$991.20M	$5.50M
2022-12-31	$999.50M	$8.20M
2021-12-31	$955.40M	$8.00M
2020-12-31	$803.90M	$5.60M
2019-12-31	$617.70M	$4.90M
2018-12-31	$474.80M	$5.20M
2017-12-31	$488.60M	$4.60M
2016-12-31	$470.80M	$5.00M

Dividend history

Most recent payment: Sep 10, 2026

Payment date	Dividend per share
2026-09-10	$0.44
2026-06-11	$0.44
2026-03-12	$0.44
2025-06-12	$0.38
2025-03-13	$0.38
2024-12-05	$0.36
2024-09-12	$0.36
2024-06-13	$0.36

Investor relations

Next earnings report

Next confirmed report: Nov 11, 2026
Consensus EPS estimate: $1.77

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-08-11	Jun 2026	$1.95
2026-05-12	Mar 2026	$2.09
2026-03-10	Dec 2025	$1.68
2025-11-03	Sep 2025	$1.37
2025-08-11	Jun 2025	$1.10
2025-05-08	Mar 2025	$1.00
2025-03-10	Dec 2024	$0.89
2024-11-06	Sep 2024	$0.83

Filings and sources

Company website: franco-nevada.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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