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.

Revenue
+57.3%
EPS
+43.8%
Free cash flow
+143.2%

Quarter to June 2026, against a year earlier

252.44 10.30 +4.25%
Market cap
$48.4B
P/E
32.9×
Fwd P/E
29.0×
Dividend yield
0.67%
F-score
7/9
Altman Z
40.67
Beneish M
−1.97
Dividend safety
65/100

Franco-Nevada Corporation (FNV) Operating margin

Alert me on Operating margin

Franco-Nevada Corporation's operating margin over the twelve months to 30 June 2026 was 78.5%, up 4.4 percentage points from fiscal 2025 (74.0%). Over the past ten years it has ranged from 25.7% (fiscal 2015) to 74.0% (fiscal 2025) — the current reading is the highest in ten years. That is above the Gold industry median of 21.9% and above the Basic Materials sector median of 2.88%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 74.0% 8.78
FY2024 65.3% 4.11
FY2023 61.1% (1.24)
FY2022 62.4% 1.40
FY2021 61.0% 2.31
FY2020 58.7% 10.07
FY2019 48.6% 8.06
FY2018 40.5% 5.67
FY2017 34.9% (1.66)
FY2016 36.5% 10.79

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 76.7% (12.07)
Mar 2026 88.8% 12.81
Dec 2025 76.0% 6.21
Sep 2025 69.8% (11.89)
42 more quarters

Against its own ten years

Low 25.7% High 74.0%
Ten-year median 58.7%
Current reading's percentile 98

Operating margin against peers

Company Operating margin
FNV Franco-Nevada Corporation 78.5%
WPM Wheaton Precious Metals Corp. compare 72.6%
RGLD Royal Gold, Inc. compare 62.0%
NEM Newmont Corporation compare 51.8%
AU AngloGold Ashanti PLC compare 48.6%
EQX Equinox Gold Corp. compare 35.9%
CDE Coeur Mining, Inc. compare 29.7%
GFI Gold Fields Limited compare 0.00%
HMY Harmony Gold Mining Company Limited compare 0.00%
Gold industry median 21.9%
Basic Materials sector median 2.88%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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