Financials Franco-Nevada Corporation

Equities

FNV

CA3518581051

Gold

Market Closed - Toronto S.E. 16:00:00 2024-06-14 EDT 5-day change 1st Jan Change
159.5 CAD -0.57% Intraday chart for Franco-Nevada Corporation -1.45% +8.67%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,453 23,912 26,453 26,089 21,269 22,311 - -
Enterprise Value (EV) 1 19,401 23,377 25,914 24,893 21,269 20,372 20,769 19,211
P/E ratio 56.4 x 73.3 x 36.1 x 37.3 x -45.6 x 38.6 x 33.5 x 26.5 x
Yield 0.96% 0.82% 0.84% 0.94% - 1.24% 1.24% 1.24%
Capitalization / Revenue 23 x 23.4 x 20.3 x 19.8 x 17.4 x 20 x 17.7 x 16.2 x
EV / Revenue 23 x 22.9 x 19.9 x 18.9 x 17.4 x 18.3 x 16.5 x 14 x
EV / EBITDA 28.8 x 27.8 x 23.7 x 22.5 x 21 x 21.2 x 18.7 x 16.3 x
EV / FCF 112 x 47.4 x 133 x 29 x - 28.3 x 21.7 x 20.5 x
FCF Yield 0.89% 2.11% 0.75% 3.45% - 3.53% 4.61% 4.87%
Price to Book 3.86 x 4.4 x 4.39 x 4.07 x - - - -
Nbr of stocks (in thousands) 188,581 190,832 191,192 191,665 192,119 192,307 - -
Reference price 2 103.2 125.3 138.4 136.1 110.7 116.0 116.0 116.0
Announcement Date 3/9/20 3/10/21 3/9/22 3/15/23 3/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 844.1 1,020 1,300 1,316 1,219 1,114 1,258 1,375
EBITDA 1 673.4 839.6 1,092 1,107 1,015 963.1 1,113 1,178
EBIT 1 410.2 336.5 860.7 820.7 -428 722.9 823.5 824
Operating Margin 48.6% 32.98% 66.21% 62.38% -35.11% 64.88% 65.47% 59.93%
Earnings before Tax (EBT) 1 405.9 339.5 857.8 833.7 -364.2 736.9 825.3 1,036
Net income 1 344.1 326.2 733.7 700.6 -466.4 614.4 684.6 844
Net margin 40.77% 31.97% 56.44% 53.25% -38.26% 55.14% 54.43% 61.38%
EPS 2 1.830 1.710 3.830 3.650 -2.430 3.002 3.462 4.370
Free Cash Flow 1 172.5 492.8 194.9 858 - 719.4 957.4 934.8
FCF margin 20.44% 48.3% 14.99% 65.21% - 64.56% 76.11% 67.99%
FCF Conversion (EBITDA) 25.62% 58.69% 17.84% 77.51% - 74.69% 86.03% 79.33%
FCF Conversion (Net income) 50.13% 151.07% 26.56% 122.47% - 117.09% 139.84% 110.76%
Dividend per Share 2 0.9900 1.030 1.160 1.280 - 1.440 1.440 1.440
Announcement Date 3/9/20 3/10/21 3/9/22 3/15/23 3/5/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 327.7 338.8 352.3 304.2 320.4 276.3 329.9 309.5 303.3 256.8 270.4 286.3 291.8 - -
EBITDA 1 269.8 286.6 301.2 256.7 262.4 229.4 275.6 255.1 254.6 216.1 231.8 244.4 243.8 248.7 251.4
EBIT 1 267.1 212 231.6 188.2 188.9 172.1 200.5 187 -987.6 158.2 181.1 201.6 202.7 - -
Operating Margin 81.51% 62.57% 65.74% 61.87% 58.96% 62.29% 60.78% 60.42% -325.62% 61.6% 66.95% 70.43% 69.45% - -
Earnings before Tax (EBT) 1 264.9 - - - - 184.1 211.5 185.2 -959.8 172 169 180 183 - -
Net income 1 220.9 182 - - - 156.5 184.5 175.1 -982.5 144.5 146.2 153.4 155.4 - -
Net margin 67.41% 53.72% - - - 56.64% 55.93% 56.58% -323.94% 56.27% 54.07% 53.6% 53.24% - -
EPS 2 1.150 0.9500 1.020 0.8200 0.8600 0.8100 0.9600 0.9100 -5.110 0.7500 0.7400 0.7800 0.7833 0.9100 1.150
Dividend per Share 0.3000 - - - - - - - - - - - - - -
Announcement Date 3/9/22 5/4/22 8/10/22 11/7/22 3/15/23 5/2/23 8/8/23 11/8/23 3/5/24 5/1/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 52.1 534 539 1,197 - 1,939 1,542 3,100
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 173 493 195 858 - 719 957 935
ROE (net income / shareholders' equity) 7.05% 9.83% 11.7% 11.3% - 10.6% 12.7% -
ROA (Net income/ Total Assets) 6.69% 9.5% 11.4% - - - - -
Assets 1 5,145 3,435 6,428 - - - - -
Book Value Per Share 26.70 28.50 31.50 33.40 - - - -
Cash Flow per Share 2 3.360 4.210 10.40 5.270 - 4.560 5.380 5.410
Capex 1 445 311 761 142 - 338 383 -
Capex / Sales 52.74% 30.49% 58.5% 10.75% - 30.29% 30.47% -
Announcement Date 3/9/20 3/10/21 3/9/22 3/15/23 3/5/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
116 USD
Average target price
145 USD
Spread / Average Target
+24.98%
Consensus
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