Rank #3 · NYSE:FNV

Franco-Nevada Corporation

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Royalty / Streaming · Primary: Gold · Also: Silver

Canada · Jurisdictions: Canada, United States, Latin America, Africa

TechnicalAvailable
JurisdictionAvailable
Filing-backedUnavailable
Historical valuationAvailable
Change intelligenceUnavailable

Canonical listing price

$244.85

+1.81%(+4.35 USD)

Updated 10/9/2026, 1:30:00 PM

Price data: Twelve Data

Market Context

Gold · Royalty / Streaming

1D: +1.8%
1M: -6.1%
3M: +22.1%
YTD: +17.4%
1Y: +14.4%
Dist 52W high: -12.8%

vs Gold

1M -2.2 pp·3M +27.0 pp

vs ETF (unavailable)

1M —·3M —

Jurisdiction: Canada, United States, Latin America, Africa · Market cap rank-only (licensing)

Close-based returns and relative performance in percentage points vs mapped metal/ETF. Not a buy/sell signal or price target.

Next report

Reporting calendar →

FY2026 · Expected window 2028-03-11 → 2028-03-25

Expected window 2028-03-11 → 2028-03-25 (FY2026).

Price Chart

Fundamentals Snapshot

Run Valuation →

Not applicable / Limited coverage — royalty, streaming, or developer profiles omit operator production & AISC.

Valuation

Market Cap· derived: UnavailableEligible share price unavailable

Financials

Cash: $670.90Mfiling-backed (fill)2025-12-31Filing source · 2026-03-19
Total Debt: $80.00Mfiling-backed (fill)2019-12-31Filing source · 2021-03-18
Net Cash· derived: $590.90Mderived2025-12-31

P&L / Cash Flow (TTM)

Revenue

Valuation

Filing-backed valuation ratios

Current market multiples relative to reported TTM financials. Peer context uses the Mining 50 Gold · Royalty / Streaming group. Not fair value, price targets, or investment advice.

Pro: full peer compare

Enterprise Value: —
P/S: —
EV/Sales: —
FCF Yield: —
EV/FCF: —

Data provenance (MINING50-VALUATION-1.0)

Market cap: MINING50-MARKETCAP-1.0
Balance sheet: Latest reported
Revenue: TTM
FCF: TTM
Currency: —
Enterprise Value uses current market cap plus latest reported cash and debt; components may differ in observation date.

Historical Valuation

Current vs own filing-date history

Point-in-time multiples at annual filing dates using prices and financials publicly available as of each date. Percentiles and medians use available history only — descriptive context, not fair value or investment advice.

P/FCF

Current (latest filing date): 29.9x
Historical median: —
Percentile: —

EV/FCF

Current (latest filing date): 29.5x
Historical median: —
Percentile: —

Historical chart

P/FCF (FY at filing) EV/FCF (FY at filing)

Each point is a filing-date snapshot — not a continuous daily valuation series.

Filing-date periodic snapshots · 5 observations · price source: Twelve Data

MINING50-HISTORICAL-VALUATION-1.0 · filing-date periodic

Balance Sheet & Capital Allocation

Filing-backed financial position & change

Annual FY trends from certified filing data. Descriptive direction and magnitude only — not a quality score or investment recommendation.

Financial Position

Cash

$670.90M

$-780.40M YoY (-53.8%)

Debt

$80.00M

$-130.00M YoY (-61.9%)

Net Debt

Unavailable

Share Count

192.8M

+246K shares YoY (+0.1%)

3-year share count change: +0.5% over 3 years

Capital Intensity

Capex / Revenue

0.1%

Prior year: 0.0%

FCF Conversion

99.8%

Prior year: 100.0%

FCF (FY)

$1.49B

+$662.00M YoY (+79.8%)

Recent Changes

Cash Drawdown
Cash decreased $780.40M (-53.8%) versus the prior year.
2024-12-31 → 2025-12-31
Debt Reduction
Total debt declined $130.00M (-61.9%) versus the prior year.
2018-12-31 → 2019-12-31

Methodology (MINING50-CAPITAL-ALLOCATION-1.0)

EntityCommonStockSharesOutstanding — period-end shares from SEC DEI taxonomy (annual FY).
Net debt: MINING50-NETDEBT-1.0 (debt − cash, both required per period)
FCF: MINING50-FCF-1.0 (annual FY derived OCF − |CapEx|)
Annual FY filing-backed series from certified Grey Rabbit stores and cached SEC companyfacts. Descriptive only — not investment advice.

Operating Performance

Filing-backed operating & cash-flow trends

Annual FY revenue, cash flow, capex, and margins from certified filing data. Descriptive trends only — not a quality score or investment recommendation.

Operating Snapshot

Revenue

$1.82B

+$709.20M YoY (+63.7%)

Operating Cash Flow

$1.49B

+$664.20M YoY (+80.1%)

Free Cash Flow

$1.49B

+$662.00M YoY (+79.8%)

Capex

$2.40M

+$2.20M YoY (+1100.0%)

3-year revenue change: +38.5% over 3 years

Cash Flow Margins

OCF Margin

81.9%

Prior year: 74.5%

Change: +7.5 pp

FCF Margin

81.8%

Prior year: 74.5%

Change: +7.3 pp

Capital Intensity

Capex / Revenue

0.1%

Prior year: 0.0%

Recent Operating Changes

Revenue Increase
Revenue increased 63.7% versus the prior comparable period.
2024-12-31 → 2025-12-31
Operating Cash Flow Increase
Operating cash flow increased $664.20M (+80.1%) versus the prior comparable period.
2024-12-31 → 2025-12-31
Free Cash Flow Increase
Free cash flow increased $662.00M (+79.8%) versus the prior comparable period.
2024-12-31 → 2025-12-31
OCF Margin Increase
Operating cash flow margin moved from 74.5% to 81.9% (+7.5 pp).
2024-12-31 → 2025-12-31
FCF Margin Increase
Free cash flow margin moved from 74.5% to 81.8% (+7.3 pp).
2024-12-31 → 2025-12-31

Methodology (MINING50-OPERATING-PERFORMANCE-1.0)

Annual FY filing-backed operating series. FCF uses certified MINING50-FCF-1.0. Descriptive only — not investment advice.
Comparable annual FY periods only — no TTM mixing in trend series.
Margin changes expressed in percentage points (pp), not relative percent change.
Production, AISC, and realized metal prices deferred until multi-period history exists.

Fundamental Changes

Material filing-backed changes

Deterministic changes from certified financial metrics. Descriptive only — not a quality score or investment recommendation.

Latest filing period: 6 material changes · 8 operating · 4 balance-sheet

FY2025 · Filed Mar 19, 2026

Cash Drawdown
Cash decreased $780.40M (-53.8%) versus the prior year.
Official filing source
Revenue Increase
Revenue increased 63.7% versus the prior comparable period.
Official filing source
Operating Cash Flow Increase
Operating cash flow increased $664.20M (+80.1%) versus the prior comparable period.
Official filing source
Free Cash Flow Increase
Free cash flow increased $662.00M (+79.8%) versus the prior comparable period.
Official filing source
OCF Margin Increase
Operating cash flow margin moved from 74.5% to 81.9% (+7.5 pp).
Official filing source
FCF Margin Increase
Free cash flow margin moved from 74.5% to 81.8% (+7.3 pp).
Official filing source

FY2024 · Filed Mar 19, 2026

Operating Cash Flow Decline
Operating cash flow declined $161.70M (-16.3%) versus the prior comparable period.
Official filing source
Free Cash Flow Increase
Free cash flow increased $358.50M (+76.1%) versus the prior comparable period.
Official filing source

Methodology (MINING50-FUNDAMENTAL-CHANGES-1.0)

Deterministic changes from certified Phase 31–35 filing-backed metrics. Filing date used for chronology where available. Not investment advice.
Reuses certified Phase 32/33 event thresholds unchanged.
Filing date preferred for chronology; period-end fallback when filing date unavailable.

Mining Technical Intelligence Beta

Grey Rabbit Score: 25
Bias: Neutral
MTF Confidence: 25%
Trend Phase: Range
Momentum: Unavailable
Freshness: live

Modules: mtf-trend, momentum, relative-strength · Last calculated: 10/12/2026, 10:41:05 AM

Secondary Listings

TSX: FNV

Price data provided by Twelve Data. Charts provided by TradingView. Grey Rabbit Scores and analysis are proprietary to Grey Rabbit Markets.

Franco-Nevada Corporation

Market Context

Price Chart

Fundamentals Snapshot

Valuation

Financials

P&L / Cash Flow (TTM)

Filing-backed valuation ratios

Current vs own filing-date history

Filing-backed financial position & change

Financial Position

Capital Intensity

Recent Changes

Filing-backed operating & cash-flow trends

Operating Snapshot

Cash Flow Margins

Capital Intensity

Recent Operating Changes

Material filing-backed changes

Mining Technical Intelligence Beta

Secondary Listings

Operations

Reserves