Franco-Nevada Corporation
Franco-Nevada Corporation is a gold-focused royalty and streaming company that provides financing to mining and energy operators in exchange for long-term interests in production and revenue. Rather than owning or operating mines, Franco-Nevada builds a diversified portfolio of royalties, streams, and working interests tied to precious metals such as gold, silver, and platinum group metals, along with selected energy assets. Its current business is organized across Precious Metals, Other Mining, and Energy segments, with exposure to assets in North America, South America, Australia, Europe, and Africa. The company’s model is designed to generate cash flow from third-party operations while maintaining a broad mix of commodity and geographic exposure. Headquartered in Toronto, Canada, Franco-Nevada plays a distinctive role in the mining sector as a capital partner and revenue participant rather than a resource producer.
$243.49
+$2.37 (+0.98%)
EOD Oct 21, 2026
71.37% operating margin is above average. ROIC at 14.99%.
Revenue up 63.7% YoY with margins expanding 6.3pp. However, free cash flow softened 267%, worth monitoring whether this is timing or structural.
At 32x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 267% versus the prior year, cash generation momentum has weakened.
31.8x earnings, 52.8x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.32B
▲ +63.7% YoY
Net Income (TTM)
$1.48B
▲ +101.4% YoY
Op. Margin
75.65%
▲ +6.3pp YoY
ROIC
14.99%
▲ +6.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$891M
▼ -266.8% YoY
Op. Cash Flow (TTM)
$1.78B
▲ +82.8% YoY
Net Debt
-$671M
Net Cash Position
Cash & Equiv.
$671M
3Y CAGR: +11.5%
Continue Research
Is Franco-Nevada (FNV) overvalued?
At a P/E of 31.8 and a price-to-free-cash-flow of 52.8, Franco-Nevada (FNV) trades above a two-stage DCF intrinsic value of about $236.25 per share, so at $243.49 the stock looks overvalued (3.0% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Franco-Nevada scores 62/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.4%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Franco-Nevada's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $236.25 per share for FNV, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $177.19. At today's $243.49, that puts the stock about 3.0% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Franco-Nevada a high-quality business?+
Franco-Nevada scores 62 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 75.7% operating margin and a 15.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Franco-Nevada (FNV) pay a dividend, and how much?+
Yes, Franco-Nevada pays a regular dividend of about $0.88 per share per year (typically in quarterly installments), a yield of roughly 0.4% at the current price. That is a payout ratio of about 11.5% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For FNV's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Franco-Nevada a good stock to buy right now?+
That depends on valuation and quality together, not either alone. FNV currently trades above its estimated intrinsic value and scores 62/100 on quality (solid). It also yields about 0.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Gold
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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