Saturday 17 October 2026 Export FNV’s income statement to Excel — free account

Franco-Nevada Corporation

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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Market cap: $46.5B
P/E: 31.7×
Fwd P/E: 24.5×
Dividend yield: 0.70%
F-score: 7/9
Altman Z: 40.67
Beneish M: −1.97
Dividend safety: 65/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 0.65%

Capital & Financial Ratios $m

Market Cap 46,460.00

Revenue 2,316.60

Net Income 1,477.80

Free Cash Flow 1,006.70

Net Debt (1,014.20)

Current Ratio 9.38

Debt/Equity 0.00

P/E ratio 31.73

Fwd P/E 24.50

P/S ratio 20.27

P/B ratio 5.70

Past 5Y EPS Growth 27.49%

This Y EPS Growth 46.51%

Next Y EPS Growth 10.94%

Next Y revenue growth 38.58%

Next 5Y EPS Growth 23.27%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 5.93%

10-year low 10-year high

P/S against its own 10 years 34.02%

10-year low 10-year high

P/B against its own 10 years 93.66%

10-year low 10-year high

EV/Sales against its own 10 years 30.34%

10-year low 10-year high

EV/FCF against its own 10 years 31.78%

10-year low 10-year high

Dividends

Payout Ratio 0.22

Annual Dividend Rate 1.70

Annual Dividend Yield 0.70%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.76	0.44 0.44 0.44
2025	1.52	0.38 0.38 0.38 0.38
2024	1.44	0.36 0.36 0.36 0.36
2023	1.36	0.34 0.34 0.34 0.34
2022	1.28	0.32 0.32 0.32 0.32
2021	1.16	0.26 0.30 0.30 0.30
2020	1.03	0.25 0.26 0.26 0.26
2019	0.99	0.24 0.25 0.25 0.25
2018	0.95	0.23 0.24 0.24 0.24
2017	0.91	0.22 0.23 0.23 0.23
2016	0.87	0.21 0.22 0.22 0.22

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,422	1,451	671	1,014
Receivables	111	152	242	238
Inventory	52	97	40	113
Other	—	—	—	—
	1,615	1,717	1,021	1,388

	2023	2024	2025	Q'26
Payables	31	29	45	39
ST’ Debt	—	—	—	—
Other	—	—	—	—
	39	68	123	148

Compound Annual Growth %

	10y	5y	3y
Sales	15.18%	12.31%	11.48%
Cash Flow	16.87%	13.19%	14.33%
Earnings	46.39%	27.80%	16.65%
Book Value	9.21%	7.00%	5.96%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	651	581	—	—	—
’25	368	369	488	597	1,823
’24	257	260	276	321	1,114
’23	276	330	310	303	1,219
’22	339	352	304	320	1,316
’21	309	347	316	328	1,300
’20	241	195	280	305	1,020

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	520	483	—	—	—
’25	289	430	348	427	1,494
’24	179	194	214	243	830
’23	210	262	236	284	991
’22	231	257	232	279	1,000
’21	224	245	207	279	955
’20	195	150	212	246	804

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	158	402	—	—	—
’25	(219)	(931)	56	392	(703)
’24	36	184	(26)	238	433
’23	107	100	71	199	477
’22	228	247	229	154	858
’21	34	(298)	200	260	195
’20	161	146	76	108	491

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.43	1.83	—	—	—
’25	1.09	1.28	1.49	1.90	5.76
’24	0.75	0.41	0.79	0.91	2.87
’23	0.81	0.96	0.91	(5.11)	(2.43)
’22	0.95	1.02	0.82	0.86	3.66
’21	0.90	0.92	0.87	1.16	3.83
’20	(0.52)	0.50	0.81	0.92	1.71

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	41.47	59.30	58.26	67.97	77.18	105.62	109.70	102.29	103.64	118.86	Analyst estimates 2026–2028 Powerpack
	High	81.16	86.06	80.79	104.07	166.11	163.79	169.32	161.25	137.60	225.64
People
People	Employees	31	32	34	42	40	40	45	45	46	49
	Revenue/emp, $m	19.68	21.09	19.21	20.10	25.51	32.50	29.24	27.09	24.21	37.20
Income, $m
Income, $m	Revenue	610	675	653	844	1,020	1,300	1,316	1,219	1,114	1,823
	Gross margin, %	82.66	38.52	43.98	51.66	60.81	63.24	64.80	62.89	68.18	73.91
	EBT	168	236	189	406	340	858	834	(364)	764	1,416
	EBT margin, %	27.52	34.96	28.95	48.09	33.28	65.98	63.37	(29.88)	68.60	77.68
	Net income	122	195	139	344	326	734	701	(466)	552	1,112
	Depreciation	274	273	248	263	241	300	286	273	225	307
Per share, $
Per share, $	Revenue	3.48	3.69	3.51	4.50	5.36	6.80	6.87	6.35	5.79	9.46
	Earnings	0.70	1.06	0.75	1.83	1.71	3.84	3.66	(2.43)	2.87	5.77
	Cash flow	2.69	2.67	2.55	3.29	4.22	5.00	5.22	5.16	4.31	7.75
	Capex	(4.09)	(2.74)	(5.32)	(2.37)	(1.64)	(3.98)	(0.74)	(2.68)	(2.06)	(11.40)
	Free cash flow	(1.40)	(0.07)	(2.77)	0.92	2.58	1.02	4.48	2.48	2.25	(3.65)
	Book value	23.67	25.73	24.89	26.97	28.61	31.53	33.51	30.05	31.17	39.62
	Shares, m	175	183	186	188	190	191	192	192	192	193
Valuation, ×
Valuation, ×	P/E	86.96	75.01	93.56	56.45	72.87	35.92	37.75	0.00	41.12	35.92
	P/S	17.48	21.54	19.99	22.97	23.38	20.33	20.11	17.55	20.32	21.91
	P/B	2.57	3.09	2.82	3.83	4.38	4.39	4.12	3.71	3.77	5.23
	EV/Sales	17.81	21.46	20.20	23.10	23.09	20.10	19.38	16.58	19.23	21.68
	EV/FCF	(44.22)	(1,149.89)	(25.63)	113.03	47.95	134.06	29.72	42.42	49.49	(56.20)
Cash, $m
Cash, $m	Operating cash flow	471	489	475	618	804	955	1,000	991	830	1,494
	Capex	(717)	(501)	(990)	(445)	(313)	(760)	(141)	(515)	(397)	(2,197)
	Free cash flow	(246)	(13)	(515)	173	491	195	858	477	433	(703)
Balance, $m
Balance, $m	Working capital	324	594	154	225	611	708	1,333	1,576	1,649	898
	Total debt	—	—	208	80	5	6	6	—	—	—
	Net debt	(253)	(511)	138	(52)	(534)	(539)	(1,196)	(1,422)	(1,451)	(671)
	Shareholders’ equity	4,147	4,706	4,632	5,062	5,444	6,025	6,418	5,769	5,997	7,635
Returns, %
Returns, %	ROA	3.10	4.32	2.86	6.74	6.00	12.43	10.92	(7.39)	8.96	15.26
	ROIC	3.58	3.51	3.47	5.12	7.62	9.03	9.82	10.72	9.99	12.11
	ROE	3.34	4.40	2.98	7.10	6.21	12.79	11.26	(7.65)	9.38	16.32

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
NEM Newmont Corporation	$122.0B	14.9×	9.4×	+15.06% (above 0%: growing)	+11.29% (above 0%: growing)	−18.03% (below 0%: shrinking)	65.87%	50.60%	Compare
WPM Wheaton Precious Metals Corp.	$60.5B	29.6×	22.9×	+84.65% (above 0%: growing)	+87.50% (above 0%: growing)	−5,847.95% (below 0%: shrinking)	74.03%	71.79%	Compare
FNV Franco-Nevada Corporation	$46.5B	31.7×	24.5×	+57.26% (above 0%: growing)	+43.75% (above 0%: growing)	+143.18% (above 0%: growing)	77.64%	76.73%
AU AngloGold Ashanti PLC	$46.2B	12.4×	8.7×	+26.95% (above 0%: growing)	+49.24% (above 0%: growing)	+41.62% (above 0%: growing)	54.86%	50.77%	Compare
GFI Gold Fields Limited	$32.9B	22.3×	6.2×	+8.27% (above 0%: growing)	n/m	+754.13% (above 0%: growing)	37.73%	0.00%	Compare
RGLD Royal Gold, Inc.	$19.7B	26.0×	16.3×	+114.91% (above 0%: growing)	+38.31% (above 0%: growing)	+119.34% (above 0%: growing)	86.66%	62.13%	Compare
CDE Coeur Mining, Inc.	$15.8B	13.0×	9.8×	+125.86% (above 0%: growing)	+9.09% (above 0%: growing)	+165.48% (above 0%: growing)	49.36%	19.94%	Compare
EQX Equinox Gold Corp.	$13.0B	10.7×	8.0×	+169.33% (above 0%: growing)	+480.00% (above 0%: growing)	−103.64% (below 0%: shrinking)	39.20%	32.14%	Compare
HMY Harmony Gold Mining Company Limited	$10.7B	52.5×	3.6×	−3.10% (below 0%: shrinking)	n/m	+265.24% (above 0%: growing)	26.37%	0.00%	Compare
Median of peers	$26.3B	18.6×	9.0×	+55.80%	+43.78%	+80.48%	52.11%	41.37%

All 37 Gold stocks →

Franco-Nevada Corporation (FNV) key facts

Strength: Franco-Nevada Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 63.7% from fiscal 2024.
Strength: Net income was $1.1 billion, or $5.77 per share (basic), a net margin of 61.0%.
Franco-Nevada Corporation (FNV) is a Gold company in the Basic Materials sector, listed on the New York Stock Exchange.
As of October 16, 2026, FNV traded at $243.38, a market capitalization of $46.5 billion.
At that price the stock trades at 31.7× trailing-twelve-month earnings and 20.3× sales; its P/E is higher than 6% of its own readings over the past ten years.
Franco-Nevada Corporation pays an annual dividend of $1.70 per share, a yield of 0.70%, with a payout ratio of 22.2%.
Return on equity was 16.3% and debt-to-equity 0.00.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 40.67 (safe zone) for fiscal 2025.