Franco-Nevada Corporation

Franco-Nevada Corporation

FNV

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Market Cap$40.4B
Close$

Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Franco-Nevada CorporationFranco-Nevada Corporation29.50.78%17%20.9-

Earnings Call Q1 2026

May 13, 2026 - AI Summary

Record Q1 2026 performance (big upside from gold/silver + acquisitions): Franco-Nevada reported record revenue of $650.7m (+77% YoY), record adjusted EBITDA $591.9m (+84% YoY), and record adjusted net income $458.3m (+123% YoY; $2.38/share). Total GEOs sold rose 8% YoY to 136,353, with precious-metal GEOs up 17% YoY to 117,980. Strong contributors included Antamina (silver price + much higher deliveries; revenue $21.3m → $82.3m), South Arturo (322% increase in GEOs benefiting from Phase 1 open pit), and contributions from recent deals (Cote + Porcupine: ~6,500 GEOs, ~$31.5m revenue).
Oil/energy tailwind expected to help Q2+ (forecast linked to WTI): Management highlighted that WTI is ~$100/bbl vs $70/bbl assumed in guidance after the late-Feb Iran events; they expect this to increase Q2 oil revenue by ~12% (about +10 relative to guidance assumptions). They also guided that the rest of 2026 should be stronger than Q1, with a stronger Q2 and then roughly consistent quarters, though asset-level delivery timing can cause variability.
Cobre Panama progress, but limited investor influence on “stream terms” (potential risk area): Encouraging operational/regulatory steps: coal shipments received, power restarted and delivered to the grid, and the government approved processing stockpiles (near-term employment boost). Environmental audit (SGS) ongoing with 5 interim reports showing no material deficiencies; final report due in Q2. Important nuance: investors asked about stream-term changes—CEO said discussions are between First Quantum and the government; Franco-Nevada is not involved and sees operating risk as not theirs, implying low likelihood of material change, but uncertainty remains because it’s outside their control.

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$292.75

Target Price by Analysts

39.8% upsideFranco-Nevada Target Price DetailsTarget Price
$110.89

Current Fair Value

47.1% downside

Overvalued by 47.1% based on the discounted cash flow analysis.

Share Statistics

Market cap$40.40 Billion
Enterprise Value$40.01 Billion
Dividend Yield$1.64 (0.78%)
Earnings per Share$5.87
Beta0.89
Outstanding Shares192,800,000

Return

Return on Equity16.84%ROE
Return on Assets15.52%
Return on Invested Capital18.98%

Valuation & Multiples

P/E Ratio29.46P/E Ratio
PEG24.49PEG
Price to Sales20.95Price to Sales
Price to Book Ratio4.99Price to Book Ratio
Enterprise Value to Revenue19.03
Enterprise Value to EBIT24.39
Enterprise Value to Net Income29
Total Debt to Enterprise0
Debt to Equity0Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 14, 2026
EPS Estimate
$2.09
Average shareholder expectation
Revenue Estimate
$633.38 M
Average shareholder expectation

Next Earnings Call

Expected Date
August 3, 2026
EPS Estimate
$2.20
Average shareholder expectation
Revenue Estimate
$669.60 M
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.8996 6.77%
Total Calls621,300 1.20%
Total Puts558,900 5.88%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %71.24% 2.23%
Total Invested$34.01B 15.72%
Investors Holding662 27.00%

ESG Score

No data

About Franco-Nevada Corporation

Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the largest and most diversified portfolio of cash-flow producing assets. The Company has the largest and most diversified portfolio of royalties an...

Relevant Senate Committees

Joint Committee on Taxation

This committee provides the technical analysis and revenue estimates for all tax legislation, directly influencing corporate tax structures and capital investment credits, which are fundamental to Franco-Nevada's financial performance and business strategy.

Finance

This powerful committee controls taxation and trade policy, which directly impacts Franco-Nevada's corporate profitability, international operations, and investor returns through changes in tax rates or trade agreements.

Agriculture, Nutrition, and Forestry

This committee oversees the CFTC, which regulates the derivatives and futures markets where precious metals (like gold, silver, PGM) are traded. Its actions directly impact the regulatory environment for commodity trading.

Energy and Natural Resources

This committee directly oversees national energy policy, public lands, and the mining sector. Its regulations on resource extraction and land use are critical to the operations of the mines from which Franco-Nevada derives its royalties and streams.

Environment and Public Works

Mining operations, which generate Franco-Nevada's royalties and streams, are heavily regulated by the EPA. This committee directly impacts environmental compliance costs and regulations that affect the profitability and viability of underlying mining assets.