Franco-Nevada (FNV) | Financial Analysis & Statements
Franco-Nevada Corporation Large-cap Basic Materials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
597.3M
Gross Profit
460.4M
77.08%
Operating Income
457.8M
76.64%
Net Income
367.7M
61.56%
EPS (Diluted)
$1.90
Balance Sheet Metrics
Total Assets
8.2B
Total Liabilities
606.1M
Shareholders Equity
7.6B
Debt to Equity
0.08
Cash Flow Metrics
Operating Cash Flow
390.3M
Free Cash Flow
391.5M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Franco-Nevada Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 1.8B | 1.1B | 1.2B | 1.3B | 1.3B |
| Cost of Goods Sold | 475.5M | 354.3M | 452.4M | 463.1M | 477.9M |
| Gross Profit | 1.3B | 759.3M | 766.6M | 852.6M | 822.1M |
| Gross Margin % | 73.9% | 68.2% | 62.9% | 64.8% | 63.2% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 46.4M | 34.6M | 28.9M | 32.6M | 30.8M |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 46.4M | 34.6M | 28.9M | 32.6M | 30.8M |
| Operating Income | 1.3B | 724.7M | 737.7M | 820.0M | 791.3M |
| Operating Margin % | 71.4% | 65.1% | 60.5% | 62.3% | 60.9% |
| Non-Operating Items | |||||
| Interest Income | 28.2M | 60.6M | 52.3M | 12.6M | 3.7M |
| Interest Expense | 300.0K | 100.0K | 100.0K | 100.0K | 300.0K |
| Other Non-Operating Income | 90.0M | -18.8M | -1.2B | 4.3M | 66.4M |
| Pre-tax Income | 1.4B | 763.9M | -364.2M | 833.7M | 857.8M |
| Income Tax | 303.9M | 211.8M | 102.2M | 133.1M | 124.1M |
| Effective Tax Rate % | 21.5% | 27.7% | 0.0% | 16.0% | 14.5% |
| Net Income | 1.1B | 552.1M | -466.4M | 700.6M | 733.7M |
| Net Margin % | 61.0% | 49.6% | -38.3% | 53.2% | 56.4% |
| Key Metrics | |||||
| EBITDA | 1.6B | 1.0B | 1.1B | 1.1B | 1.1B |
| EPS (Basic) | - | $2.87 | $-2.43 | $3.66 | $3.86 |
| EPS (Diluted) | - | $2.87 | $-2.43 | $3.65 | $3.85 |
| Basic Shares Outstanding | - | 192400000 | 192000000 | 191500000 | 190149234 |
| Diluted Shares Outstanding | - | 192400000 | 192000000 | 191500000 | 190149234 |
Income Statement Trend
Join Our United States Telegram Channel
Get Instant Market Updates: 52-Week High/Low Alerts, Breakout Notifications & Expert Stock Analysis Delivered To Your Phone. Join Traders Making Informed Decisions Daily!
Franco-Nevada Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 670.9M | 1.5B | 1.4B | 1.2B | 539.3M |
| Short-term Investments | - | - | - | - | - |
| Accounts Receivable | 241.9M | 151.8M | 111.0M | 135.7M | 119.8M |
| Inventory | 40.1M | 96.8M | 500.0K | 100.0K | 500.0K |
| Other Current Assets | 400.0K | 400.0K | 51.9M | 28.7M | 33.3M |
| Total Current Assets | 1.0B | 1.7B | 1.6B | 1.4B | 751.4M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 4.2M | 4.5M | 600.0K | 900.0K | 1.5M |
| Goodwill | - | - | - | - | - |
| Intangible Assets | - | - | - | - | - |
| Long-term Investments | 36.0M | 700.0K | 8.1M | 2.6M | 800.0K |
| Other Non-Current Assets | 24.3M | 32.2M | 38.1M | 41.4M | 50.6M |
| Total Non-Current Assets | 7.2B | 4.6B | 4.4B | 5.2B | 5.5B |
| Total Assets | 8.2B | 6.3B | 6.0B | 6.6B | 6.2B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 8.4M | 5.1M | 5.5M | 7.0M | 8.5M |
| Short-term Debt | - | - | - | - | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | 123.0M | 67.5M | 39.2M | 50.2M | 43.2M |
| Non-Current Liabilities | |||||
| Long-term Debt | - | - | - | - | - |
| Deferred Tax Liabilities | 440.7M | 238.0M | 180.1M | 153.0M | 135.4M |
| Other Non-Current Liabilities | 8.6M | 8.5M | 5.7M | 6.0M | 6.1M |
| Total Non-Current Liabilities | 483.1M | 266.3M | 185.8M | 159.0M | 141.5M |
| Total Liabilities | 606.1M | 333.8M | 225.0M | 209.2M | 184.7M |
| Equity | |||||
| Common Stock | 5.8B | 5.8B | 5.7B | 5.7B | 5.6B |
| Retained Earnings | 1.4B | 486.5M | 212.3M | 940.4M | 484.9M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 7.6B | 6.0B | 5.8B | 6.4B | 6.0B |
| Key Metrics | |||||
| Total Debt | 0 | 0 | 0 | 0 | 0 |
| Working Capital | 898.4M | 1.6B | 1.6B | 1.3B | 708.2M |
Balance Sheet Composition
Franco-Nevada Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 1.1B | 552.1M | -466.4M | 700.6M | 733.7M |
| Depreciation & Amortization | 306.7M | 225.3M | 273.1M | 286.2M | 299.6M |
| Stock-Based Compensation | 6.3M | 5.4M | 5.5M | 8.2M | 8.0M |
| Working Capital Changes | -94.8M | 21.4M | 14.1M | -7.7M | -27.9M |
| Operating Cash Flow | 1.5B | 816.9M | -156.3M | 999.8M | 1.0B |
| Investing Activities | |||||
| Capital Expenditures | -2.2B | -396.8M | -514.6M | -141.5M | -760.5M |
| Acquisitions | - | - | - | - | - |
| Investment Purchases | -60.3M | -74.5M | -9.8M | -48.5M | -17.2M |
| Investment Sales | 109.9M | 23.3M | 2.0M | 1.8M | 12.7M |
| Investing Cash Flow | -2.0B | -537.3M | -541.1M | -145.5M | -765.0M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | -275.1M | -242.4M | -233.0M | -197.6M | -179.6M |
| Debt Issuance | 175.0M | - | - | - | 150.0M |
| Debt Repayment | -175.0M | - | - | 0 | -150.0M |
| Financing Cash Flow | -275.1M | -243.2M | -233.0M | -198.5M | -180.6M |
| Free Cash Flow | -703.0M | 421.5M | 469.6M | 858.0M | 194.9M |
| Net Change in Cash | -776.0M | 36.4M | -930.4M | 655.8M | 78.7M |
Cash Flow Trend
Franco-Nevada Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
42.94
Forward P/E
24.68
Price to Book
6.25
Price to Sales
26.43
PEG Ratio
0.39
Profitability Ratios
Profit Margin
61.64%
Operating Margin
76.09%
Return on Equity
16.32%
Return on Assets
11.55%
Financial Health
Current Ratio
8.30
Debt to Equity
0.00
Beta
0.94
Per Share Data
EPS (TTM)
$5.76
Book Value per Share
$39.60
Revenue per Share
$9.36
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| FNV | 47.1B | 42.94 | 6.25 | 16.32% | 61.64% | 0.00 |
| Newmont | 120.8B | 17.10 | 3.51 | 22.34% | 31.25% | 16.74 |
| Agnico Eagle Mines | 100.3B | 22.48 | 4.02 | 19.58% | 37.47% | 1.30 |
| Barnes | 67.5B | 13.72 | 2.54 | 20.68% | 29.45% | 14.51 |
| Wheaton Precious | 63.3B | 43.69 | 7.40 | 18.45% | 63.58% | 0.09 |
| Kinross Gold | 38.6B | 16.44 | 4.49 | 31.48% | 33.90% | 8.72 |
Financial data is updated regularly. All figures are in the company's reporting currency.






