# Franco-Nevada Corporation (FNV.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Basic Materials / Metals & Mining. Price C$367.97, market value C$71.0 billion.

## Valuation
- **P/E (trailing): 34.7×** (5-yr avg 49.7×, 3-yr avg 53.2×). Franco-Nevada Corporation trades at 34.7× trailing earnings, well below its own five-year average of 49.7×: cheap by its own standards. The Basic Materials median in the September 2026 study was 19.0×. Forward P/E is 28.4×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.27**. A PEG of 0.27 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 22.2×**. Each dollar of revenue is priced at 22.2×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 6.2×**. The shares trade at 6.2× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 24.0×**. Enterprise value is 24.0× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 1.8%** (5-yr avg 1.0%). Free cash flow equals 1.8% of the market value, above its five-year average of 1.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 2.9%**. The inverse of the P/E: 2.9% of the price is earned each year.

## Profitability
- **Gross margin: 77.3%**. Franco-Nevada Corporation keeps 77.3% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 75.2%**. 75.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 61.1%**. 61.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.8%**. 14.8% on shareholders' equity is solid.
- **Return on invested capital: 19.6%**. Return on all capital, debt included, is 19.6%: comfortably above what that capital costs.
- **Return on assets: 17.9%**. Each dollar of assets produces 17.9% of profit.

## Growth
- **Revenue growth (1 yr): 66.4%** (3-yr 12.1%/yr, 5-yr 12.7%/yr). Revenue grew 66.4% over the last year, against 12.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 104.2%** (3-yr 17.1%/yr, 5-yr 26.6%/yr). Earnings per share rose 104.2%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.00**. Debt is 0.00 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Franco-Nevada Corporation holds more cash than debt.
- **Interest coverage: 561.1×**. Operating profit covers interest 561.1× over, a safe margin.
- **Current ratio: 8.30** (quick 8.30). Current assets cover the next year's liabilities 8.30 times.
- **Altman Z-score: 72.57**. A Z-score of 72.57 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 7/9**. 7 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 0.67%** (C$2.45 per share, trailing). Franco-Nevada Corporation yields 0.67%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 25%** (34% of free cash flow). 25% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 6**. 6 straight years of increases.
- **Dividend growth (5 yr): 9.1%/yr** (1-yr 7.4%). The dividend has grown 9.1% a year over five years.

## Analyst view
- **Analyst consensus: buy** (9 analysts). 9 analysts cover Franco-Nevada Corporation; the consensus is buy, with an average price target of C$386.91 (+5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 41.1%** (YTD 29.8%, 3-mo 21.0%). The shares are up 41.1% over twelve months including dividends.
- **From 52-week high: -5.2%** (44.8% above the low). Trading 5% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): 2.05** (volatility 38%). Beta of 2.05 against the S&P/TSX Composite: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FNV.TO · Page: https://foliofundamentals.com/stocks/fnv.to

Not investment advice.