# Franco-Nevada Corporation (FNV) — Stock CV

Franco-Nevada Corporation is a $47.2B materials company. Revenue grew 63.7% over the last year, and it keeps 62¢ of every dollar of sales as profit. It trades at 31.3× earnings.

> Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum.

## Identity

- **Ticker**: FNV
- **Sector**: Basic Materials
- **Employees**: 44
- **Website**: https://www.franco-nevada.com
- **Market cap**: $47.2B
- **Last price**: $244.85
- **Financial profile**: Strong

## Vitals (FY2025)

- **Revenue**: $1.80B
- **Net income**: $1.11B
- **Free cash flow**: $919M
- **P/E**: 31.3
- **Revenue growth (YoY)**: 63.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 27 |
| Growth | 64 |
| Profitability | 90 |
| Health | 75 |
| Quality | 64 |
| Moat | 56 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +63.7% YoY
- [x] Profitable — $1.11B FY2025
- [x] Profit growing — +16.4% YoY
- [x] Generates cash — $919M FY2025
- [x] Debt under control — current ratio 9.38
- [x] Established company — $47.2B market cap
- [x] Not printing shares — +0.8% shares over ~5y
- [ ] Proven track record — 4/5 profitable years
- [x] Financially stable — Altman Z 42.8 — safe
- [x] Pays a dividend — yield 0.65%
- [x] Valuation not extreme — P/E 31.3

## Experience (career milestones)

- **FY2025** — Best year on record: $1.11B net income
- **FY2021** — First recorded profitable year: $734M net income
- **FY2021** — Revenue already above $1B: $1.30B in first reported year
- **2007** — Newmont spun off Franco-Nevada in an initial public offering (IPO)
- **2002** — Newmont acquired 100% of Franco-Nevada as part of a three-way combination of Newmont, Normandy and Old…
- **1988** — Franco-Nevada purchased a royalty on the Castle Mountain mine in California
- **1986** — Old Franco-Nevada made its first royalty acquisition

## Strengths

- High gross margin (77.3%)
- Strongly profitable — 61.6% net margin
- Revenue growing 63.7% year over year
- Strong cash conversion — FCF is 51.0% of revenue
- Interest covered 1716.6× by operating earnings

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.30B | $734M | $858M |
| FY2022 | $1.31B | $701M | $470M |
| FY2023 | $1.22B | -$466M | $422M |
| FY2024 | $1.10B | $552M | -$703M |
| FY2025 | $1.80B | $1.11B | $919M |

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Source: https://stockcv.com/FNV — derived from company filings; may be delayed or incomplete. Information, not investment advice.