Saturday 17 October 2026
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Franco-Nevada Corporation
FNV Basic Materials Gold
Franco-Nevada Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 63.7% from fiscal 2024. In the quarter to June 2026, revenue grew 57.3%, EPS grew 43.8% and free cash flow grew 143.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
243.38
2.50
+1.04%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
7 | 6 | 4 | 6 | 8 | 7 | 7 | 4 | 6 | 7 |
P/E ratio |
35.92 | 41.12 | 0.00 | 37.75 | 35.92 | 72.87 | 56.45 | 93.56 | 75.01 | 86.96 |
P/S ratio |
21.91 | 20.32 | 17.55 | 20.11 | 20.33 | 23.38 | 22.97 | 19.99 | 21.54 | 17.48 |
Altman Z-Score |
40.67 | 41.64 | 57.71 | 76.01 | 86.73 | 96.64 | 53.69 | 26.38 | 106.20 | 83.95 |
P/FCF ratio |
0.00 | 52.29 | 44.90 | 30.83 | 135.59 | 48.55 | 112.40 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
15.59 | 21.59 | 29.60 | 34.83 | 36.11 | 39.75 | 25.04 | 16.57 | 60.53 | 58.57 |
Beneish M-Score |
(1.97) | (2.47) | (3.64) | (2.64) | (2.34) | (2.58) | (2.40) | (5.70) | (2.04) | (2.38) |
P/Operating CF |
93.65 | 93.10 | 75.48 | 94.72 | 94.72 | 96.83 | 105.03 | 133.52 | 115.14 | 87.49 |
Dividend Safety Score |
65 | — | — | — | — | — | — | — | — | — |
P/B ratio |
5.23 | 3.77 | 3.71 | 4.12 | 4.39 | 4.38 | 3.83 | 2.82 | 3.09 | 2.57 |
Price to Tangible BV |
5.23 | 3.77 | 3.71 | 4.12 | 4.39 | 4.38 | 3.83 | 2.82 | 3.09 | 2.57 |
EV/Sales |
21.68 | 19.23 | 16.58 | 19.38 | 20.10 | 23.09 | 23.10 | 20.20 | 21.46 | 17.81 |
EV/EBITDA |
23.86 | 22.50 | 19.85 | 23.04 | 23.92 | 28.06 | 28.95 | 25.75 | 28.50 | 21.88 |
EV/Operating CF |
26.45 | 25.81 | 20.40 | 25.51 | 27.35 | 29.30 | 31.56 | 27.79 | 29.65 | 23.08 |
EV/FCF |
(56.20) | 49.49 | 42.42 | 29.72 | 134.06 | 47.95 | 113.03 | (25.63) | (1,149.89) | (44.22) |
Quick Ratio |
7.42 | 23.75 | 39.10 | 26.54 | 15.26 | 11.80 | 4.31 | 5.81 | 25.53 | 8.62 |
Current Ratio |
8.30 | 25.43 | 41.21 | 27.55 | 17.39 | 12.48 | 5.22 | 7.14 | 27.27 | 9.61 |
Net Debt/EBITDA |
(0.41) | (1.52) | (1.40) | (1.08) | (0.49) | (0.64) | (0.08) | 0.27 | (1.01) | (0.51) |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.51% | 4.21% | 0.00% | 0.00% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.04 | 0.00 | 0.00 |
Asset Turnover |
0.25 | 0.18 | 0.19 | 0.21 | 0.22 | 0.19 | 0.17 | 0.13 | 0.15 | 0.15 |
Operating CF/Net income |
1.34 | 1.50 | (2.13) | 1.43 | 1.30 | 2.46 | 1.80 | 3.42 | 2.51 | 3.85 |
Capex/Depreciation |
(7.16) | (1.76) | (1.88) | (0.49) | (2.54) | (1.30) | (1.69) | (4.00) | (1.84) | (2.62) |
Interest Coverage |
435.29 | 279.46 | 257.00 | 256.47 | 220.19 | 171.03 | 38.70 | 57.57 | 69.24 | 61.92 |
| 16.32% | 9.38% | (7.65%) | 11.26% | 12.79% | 6.21% | 7.10% | 2.98% | 4.40% | 3.34% | |
| 15.26% | 8.96% | (7.39%) | 10.92% | 12.43% | 6.00% | 6.74% | 2.86% | 4.32% | 3.10% | |
ROIC |
12.11% | 9.99% | 10.72% | 9.82% | 9.03% | 7.62% | 5.12% | 3.47% | 3.51% | 3.58% |
Return on Tangible Assets |
16.02% | 9.60% | (8.32%) | 11.19% | 12.53% | 6.22% | 6.85% | 2.95% | 4.30% | 3.06% |
Average Days of Receivables |
48.44 | 49.75 | 33.24 | 37.65 | 33.64 | 33.42 | 42.29 | 42.19 | 35.63 | 42.53 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.56% |
Selling, General and Administrative Expense of Revenue |
2.86% | 3.67% | 2.29% | 2.48% | 2.37% | 2.82% | 3.41% | 3.46% | 3.69% | 3.39% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.35% | 0.48% | 0.45% | 0.62% | 0.62% | 0.55% | 0.58% | 0.80% | 0.68% | 0.82% |
Graham Net Nets |
0.01 | 0.06 | 0.07 | 0.04 | 0.02 | 0.02 | 0.00 | (0.01) | 0.04 | 0.03 |
Graham Number |
71.72 | 44.78 | 0.00 | 52.53 | 52.26 | 33.27 | 33.32 | 20.49 | 24.77 | 19.31 |
Earnings Yield |
2.78% | 2.43% | (2.17%) | 2.65% | 2.78% | 1.37% | 1.77% | 1.07% | 1.33% | 1.15% |
Free Cash Flow Yield |
(1.76%) | 1.91% | 2.23% | 3.24% | 0.74% | 2.06% | 0.89% | (3.94%) | (0.09%) | (2.30%) |
Revenue per Share |
9.46 | 5.79 | 6.35 | 6.87 | 6.80 | 5.36 | 4.50 | 3.51 | 3.69 | 3.48 |
Operating CF per Share |
7.75 | 4.31 | 5.16 | 5.22 | 5.00 | 4.22 | 3.29 | 2.55 | 2.67 | 2.69 |
Capex per Share |
(11.40) | (2.06) | (2.68) | (0.74) | (3.98) | (1.64) | (2.37) | (5.32) | (2.74) | (4.09) |
Free Cash Flow per Share |
(3.65) | 2.25 | 2.48 | 4.48 | 1.02 | 2.58 | 0.92 | (2.77) | (0.07) | (1.40) |
Cash per Share |
3.48 | 7.54 | 7.41 | 6.25 | 2.82 | 2.81 | 0.70 | 0.37 | 2.79 | 1.44 |
Shareholders Equity per Share |
39.62 | 31.17 | 30.05 | 33.51 | 31.53 | 28.61 | 26.97 | 24.89 | 25.73 | 23.67 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
39.62 | 31.17 | 30.05 | 33.51 | 31.53 | 28.61 | 26.97 | 24.89 | 25.73 | 23.67 |
Free Cash Flow |
(703.00) | 432.70 | 476.60 | 858.00 | 194.90 | 491.30 | 172.50 | (514.80) | (12.60) | (245.80) |
Working Capital |
898.40 | 1,649.30 | 1,576.10 | 1,332.90 | 708.20 | 610.50 | 225.30 | 153.50 | 593.80 | 323.60 |
Capital Expenditures |
(2,196.70) | (396.80) | (514.60) | (141.50) | (760.50) | (312.60) | (445.20) | (989.60) | (501.20) | (716.80) |
Net Current Asset Value |
415.30 | 1,383.00 | 1,390.30 | 1,173.90 | 566.70 | 514.60 | 60.30 | (121.40) | 533.50 | 286.10 |
EV/EBIT |
29.28 | 29.47 | 27.13 | 31.07 | 32.96 | 39.35 | 47.53 | 49.84 | 61.55 | 48.76 |
Capex to Sales |
1.21 | 0.36 | 0.42 | 0.11 | 0.59 | 0.31 | 0.53 | 1.52 | 0.74 | 1.17 |
Price to Operating Income |
29.60 | 31.14 | 28.71 | 32.24 | 33.34 | 39.84 | 47.27 | 49.32 | 61.78 | 47.84 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.05 | 0.06 | 0.07 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.07 | 0.07 |
Cash ROIC |
(8.46%) | 5.81% | 6.63% | 11.27% | 2.97% | 8.22% | 3.27% | (10.49%) | (0.24%) | (5.59%) |
Accounts Receivable Turnover |
9.26 | 8.47 | 9.88 | 10.30 | 12.20 | 10.67 | 9.74 | 9.24 | 9.85 | 8.96 |
Accounts Payable Turnover |
12.92 | 11.89 | 12.23 | 12.08 | 12.85 | 9.68 | 12.48 | 16.23 | 19.53 | 5.43 |
Inventory Turnover |
6.95 | 4.77 | 17.47 | 1,176.27 | 606.93 | 148.00 | 69.06 | 0.00 | 81.67 | 20.82 |
Average Days of Payables |
34.47 | 29.57 | 24.93 | 33.97 | 25.66 | 37.25 | 37.39 | 23.54 | 18.91 | 72.45 |
Days of Inventory on Hand |
30.78 | 99.72 | 41.79 | 0.00 | 0.60 | 0.72 | 4.13 | 0.00 | 6.33 | 10.22 |
Average Receivables |
196.85 | 131.40 | 123.35 | 127.75 | 106.60 | 95.60 | 86.65 | 70.70 | 68.50 | 68.10 |
Average Payables |
36.80 | 29.80 | 37.00 | 38.35 | 37.20 | 41.30 | 32.70 | 22.55 | 21.25 | 19.50 |
Average Inventory |
68.45 | 74.30 | 25.90 | 0.39 | 0.79 | 2.70 | 5.91 | — | 5.08 | 5.08 |
Average Assets |
7,285.90 | 6,162.25 | 6,310.45 | 6,418.35 | 5,901.40 | 5,436.75 | 5,106.20 | 4,860.10 | 4,505.00 | 3,947.95 |
Average Common Equity |
6,815.95 | 5,882.85 | 6,093.35 | 6,221.40 | 5,734.50 | 5,253.00 | 4,847.05 | 4,668.70 | 4,426.00 | 3,654.75 |
Columns are period end dates