Franco-Nevada Corp

Franco-Nevada Corp maintains a strong liquidity position, with $935.2 million in cash and equivalents and no long-term debt, resulting in a debt-to-equity ratio of 0.0. The company's current ratio of 29.4 indicates a highly liquid balance sheet, with total assets of $6.06 billion significantly outpacing liabilities of $239.8 million.

The company's profitability is robust, with a return on equity (ROE) of 2.48% and a return on assets (ROA) of 2.38%. These metrics are in line with the industry's preferred focus on asset efficiency and capital returns, though they are below the typical high-margin thresholds seen in gold streaming and royalty businesses.

Franco-Nevada Corp's revenue is derived from a diversified portfolio of gold streaming and royalty agreements, with no disclosed geographic concentration risk. The company's exposure is spread across multiple jurisdictions, reducing the impact of any single region's performance on its overall revenue.

The company's growth trajectory is supported by a strong operating cash flow of $178.6 million and a revenue of $256.8 million. While free cash flow is negative at -$3.4 million, this is primarily due to capital expenditures of -$147.2 million, which are typical for a company investing in expanding its royalty and streaming portfolio.

Risk factors for Franco-Nevada Corp are minimal, with low liquidity and dilution risks identified. The company has no immediate filing-based liquidity or dilution flags, and its capital structure is stable with no dilution potential in the near term.

Recent events and filings indicate a stable business environment for Franco-Nevada Corp. The company has not issued any new shares recently, and there are no indications of near-term dilution pressure. Analysts have provided a range of price targets, with a mean of $389.38 and a median of $410.00, reflecting a generally positive outlook.

Franco-Nevada Corp (FNV.TO) has recorded three notable additions to its shareholder base as of March 31, 2026, marking the first analysis for this ticker with no prior basis for delta computation. These new holdings were detected on June 30, 2026, and represent fresh institutional interest in the royalty and streaming company. The most significant addition involves an investor holding 1,934,850 shares, valued at approximately $489.05 million, which accounts for a 0.030% weight in the portfolio. This substantial position underscores a notable commitment from this specific holder, distinguishing it as the primary driver of recent ownership changes. Two other investors also initiated positions during the same period. One added 195,183 shares valued at $48.22 million (0.009% weight), while the third acquired 23,134 shares worth $5.73 million (0.001% weight). Together, these three new holders contribute to the company’s current top holder count of 32. Franco-Nevada Corp continues to be followed by eight analysts, though it currently holds no index memberships. With only one officer listed in the current profile, the company’s governance structure remains compact as it navigates this initial phase of tracked shareholder activity.

Franco-Nevada generated $1.82 billion in FY2026 revenue, representing a 63.7% year-over-year increase driven by strong operational performance.

Franco-Nevada maintains a zero long-term debt balance, eliminating interest expense risk and providing superior financial flexibility compared to peers.

Analysts project 25.0% upside to the mean price target of $389.38, reflecting strong institutional confidence in future growth.

Net income surged 101.4% year-over-year to $1.11 billion in FY2026, demonstrating robust profitability expansion.

The company recorded negative free cash flow of -$947.9 million in FY2024, indicating significant cash outflows during that period.

Revenue declined from $1.32 billion in FY2023 to $1.11 billion in FY2025, showing a contraction trend before recent recovery.

Revenue $597.3M, +86,1% YoY; Operating income +108,8% YoY.

• ▍Revenue $597.3M, +86,1% YoY
• ▍Operating income +108,8% YoY
• ▍Net income +109,6% YoY
• ▍Free cash flow +107,4% YoY
• ▍Net margin 61.6%

Revenue $487.7M, +76,9% YoY; Operating income +87,4% YoY.

• ▍Revenue $487.7M, +76,9% YoY
• ▍Operating income +87,4% YoY
• ▍Net income +88,3% YoY
• ▍Free cash flow +115,8% YoY
• ▍Net margin 59.0%

Revenue $369.4M, +42,0% YoY; Operating income +81,0% YoY.

• ▍Revenue $369.4M, +42,0% YoY
• ▍Operating income +81,0% YoY
• ▍Net income +210,8% YoY
• ▍Free cash flow −2 115,9% YoY
• ▍Net margin 66.9%

Revenue $368.4M, +43,5% YoY; Operating income +60,2% YoY.

• ▍Revenue $368.4M, +43,5% YoY
• ▍Operating income +60,2% YoY
• ▍Net income +45,2% YoY
• ▍Free cash flow −8 735,3% YoY
• ▍Net margin 56.9%

Revenue $321.0M; Operating income $217.4M.

• ▍Revenue $321.0M
• ▍Operating income $217.4M
• ▍Net margin 54.6%

Revenue $275.7M; Operating income $182.0M.

• ▍Revenue $275.7M
• ▍Operating income $182.0M
• ▍Net margin 55.4%

Revenue $260.1M; Operating income $169.0M.

• ▍Revenue $260.1M
• ▍Operating income $169.0M
• ▍Net margin 30.6%

Revenue $256.8M; Operating income $158.2M.

• ▍Revenue $256.8M
• ▍Operating income $158.2M
• ▍Net margin 56.3%

Revenue $1.82B, +63,7% YoY; Operating income +86,4% YoY.

• ▍Revenue $1.82B, +63,7% YoY
• ▍Operating income +86,4% YoY
• ▍Net income +101,4% YoY
• ▍Free cash flow −929,1% YoY
• ▍Net margin 61.0%

Revenue $1.11B, −8,7% YoY; Operating income +269,8% YoY.

• ▍Revenue $1.11B, −8,7% YoY
• ▍Operating income +269,8% YoY
• ▍Net income +218,4% YoY
• ▍Free cash flow +113,4% YoY
• ▍Net margin 49.6%

Revenue $1.22B, −7,3% YoY; Operating income −152,2% YoY.

• ▍Revenue $1.22B, −7,3% YoY
• ▍Operating income −152,2% YoY
• ▍Net income −166,6% YoY
• ▍Free cash flow −246,3% YoY
• ▍Net margin -38.3%

Revenue $1.32B, +1,2% YoY; Operating income −4,7% YoY.

• ▍Revenue $1.32B, +1,2% YoY
• ▍Operating income −4,7% YoY
• ▍Net income −4,5% YoY
• ▍Free cash flow +595,0% YoY
• ▍Net margin 53.2%