Cash flow Franco-Nevada Corporation

Stocks

FNV

CA3518581051

Gold

Delayed Toronto S.E. Other stock markets 02:09:00 12/06/26 am AEST			5-day change	1st Jan Change
289.84 ^CAD	-0.17%		-11.76%	+1.81%

03/06	RBC Precious Metals Price Target Changes Brief: Kinross To US$40 From $45; FNV To US$295 From $320; TFPM To US$38 From $44; OR To US$50 From $56; WPM To US$165 From $200	MT
03/06	RBC Cuts Price Target on Franco-Nevada to $295 From $320, Keeps Outperform Rating	MT

34ad62e34aecbf3477c70ec97.WHabcoEOvXjm239KN5lvYpB64E5yAmPjaCSLPzHRU2M.Oj22Oe5EhArW6EssYPUIJMoOiDkiSCq8BGm_dEiyB1YsEKsG7UDUFYOPCA

Published financial data: FRANCO-NEVADA CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.3B	1.31B	1.22B	1.1B	1.8B
Total Revenues	1.3B	1.31B	1.22B	1.1B	1.8B
Cost of Goods Sold, Total	176M	175M	177M	126M	164M
Gross Profit	1.12B	1.14B	1.04B	976M	1.64B
Selling General & Admin Expenses, Total	30.8M	22.5M	24.5M	26.6M	29.5M
Stock-Based Compensation (IS)	-	10.1M	4.4M	8M	16.9M
Depreciation & Amortization - (IS)	300M	286M	273M	225M	307M
Impairment of Oil, Gas & Mineral Properties - (IS)	-68M	-	1.17B	-	-4.8M
Other Operating Expenses	-1.4M	-700K	-3.9M	-7.9M	-54.3M
Other Operating Expenses, Total	261M	318M	1.47B	252M	294M
Operating Income	861M	821M	-432M	724M	1.35B
Interest Expense, Total	-1.4M	-1M	-600K	-500K	-700K
Interest And Investment Income	3.7M	12.6M	52.3M	69.5M	42.4M
Net Interest Expenses	2.3M	11.6M	51.7M	69M	41.7M
Currency Exchange Gains (Loss)	-2.4M	3.6M	14.4M	-14.7M	4.3M
Other Non Operating Income (Expenses)	-2.4M	-2.2M	-2.3M	-8.1M	30M
EBT, Excl. Unusual Items	858M	834M	-368M	770M	1.42B
Gain (Loss) On Sale Of Investments	-400K	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	3.7M	300K	-
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	-	-	-6.3M	-5.8M
EBT, Incl. Unusual Items	858M	834M	-364M	764M	1.42B
Income Tax Expense	124M	133M	102M	212M	304M
Earnings From Continuing Operations	734M	701M	-466M	552M	1.11B
Net Income to Company	734M	701M	-466M	552M	1.11B
Net Income - (IS)	734M	701M	-466M	552M	1.11B
Net Income to Common Incl Extra Items	734M	701M	-466M	552M	1.11B
Net Income to Common Excl. Extra Items	734M	701M	-466M	552M	1.11B
Per Share Items
Net EPS - Basic	3.84	3.66	-2.43	2.87	5.77
Basic EPS - Continuing Operations	3.84	3.66	-2.43	2.87	5.77
Basic Weighted Average Shares Outstanding	191M	192M	192M	192M	193M
Net EPS - Diluted	3.83	3.65	-2.43	2.87	5.76
Diluted EPS - Continuing Operations	3.83	3.65	-2.43	2.87	5.76
Diluted Weighted Average Shares Outstanding	192M	192M	192M	193M	193M
Normalized Basic EPS	2.81	2.72	-1.2	2.5	4.61
Normalized Diluted EPS	2.8	2.72	-1.2	2.5	4.6
Dividend Per Share	1.16	1.28	1.36	1.44	1.52
Payout Ratio	24.48	28.2	-49.96	43.9	24.74
American Depositary Receipts Ratio (ADR)	0.01	0.01	0.01	0.01	0.01
Supplemental Items
EBITDA	1.09B	1.11B	1.01B	949M	1.65B
EBITA	861M	821M	-432M	724M	1.35B
EBIT	861M	821M	-432M	724M	1.35B
Total Revenues (As Reported)	-	-	-	1.11B	1.82B
Effective Tax Rate - (Ratio)	14.47	15.96	-28.06	27.73	21.46
Total Current Taxes	87M	95.7M	75.6M	146M	196M
Total Deferred Taxes	37.1M	37.4M	26.6M	66.3M	108M
Normalized Net Income	536M	521M	-230M	481M	889M
Interest Capitalized	-	-	-	-	1.2M
Interest on Long-Term Debt	1.2M	3.2M	2.9M	2.6M	3.1M
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	30.8M	22.5M	24.5M	26.6M	29.5M
Stock-Based Comp., G&A Exp. (Total)	11.2M	-	-	-	-
Stock-Based Comp., Other (Total)	-	10.1M	4.4M	8M	16.9M
Total Stock-Based Compensation	11.2M	10.1M	4.4M	8M	16.9M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	539M	1.2B	1.42B	1.45B	671M
Total Cash And Short Term Investments	539M	1.2B	1.42B	1.45B	671M
Accounts Receivable, Total	120M	136M	111M	152M	242M
Other Receivables	-	-	-	-	15.2M
Notes Receivable	39.7M	-	-	5.9M	-
Total Receivables	160M	136M	111M	158M	257M
Inventory	500K	100K	500K	7.3M	600K
Prepaid Expenses	18.8M	22.1M	30M	10.6M	2.7M
Other Current Assets, Total	33.3M	28.7M	51.9M	89.9M	90.1M
Total Current Assets	751M	1.38B	1.62B	1.72B	1.02B
Gross Property Plant And Equipment	8.58B	8.54B	7.92B	9.34B	11.62B
Accumulated Depreciation	-3.43B	-3.6B	-3.89B	-5.23B	-5.57B
Net Property Plant And Equipment	5.16B	4.93B	4.03B	4.11B	6.05B
Long-term Investments	236M	227M	254M	326M	1.14B
Loans Receivable Long-Term	-	-	24.8M	104M	-
Deferred Tax Assets Long-Term	49.4M	39.9M	37M	30.8M	23.2M
Deferred Charges Long-Term	1.2M	1.5M	1.1M	1.4M	1.1M
Other Long-Term Assets, Total	15.6M	40.9M	27.7M	42.5M	-
Total Assets	6.21B	6.63B	5.99B	6.33B	8.24B
Liabilities
Accounts Payable, Total	8.5M	7M	5.5M	5.1M	8.4M
Accrued Expenses, Total	25.1M	36.1M	25.4M	23.6M	36.5M
Current Income Taxes Payable	9.6M	7.1M	8.3M	38.8M	78.1M
Total Current Liabilities	43.2M	50.2M	39.2M	67.5M	123M
Long-Term Debt	-	-	-	-	-
Long-Term Leases	-	-	-	-	-
Deferred Tax Liability Non Current	135M	153M	180M	238M	441M
Other Non Current Liabilities	6.1M	6M	5.7M	28.3M	42.4M
Total Liabilities	185M	209M	225M	334M	606M
Common Stock, Total	5.63B	5.7B	5.73B	5.77B	5.8B
Additional Paid In Capital	16.1M	15.6M	20.6M	23M	21.6M
Retained Earnings	485M	940M	212M	486M	1.38B
Comprehensive Income and Other	-104M	-234M	-192M	-282M	430M
Total Common Equity	6.03B	6.42B	5.77B	6B	7.64B
Total Equity	6.03B	6.42B	5.77B	6B	7.64B
Total Liabilities And Equity	6.21B	6.63B	5.99B	6.33B	8.24B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	191M	192M	192M	193M	193M
ECS Total Common Shares Outstanding	191M	192M	192M	193M	193M
Book Value / Share	31.49	33.44	30.02	31.14	39.6
Tangible Book Value	6.03B	6.42B	5.77B	6B	7.64B
Tangible Book Value Per Share	31.49	33.44	30.02	31.14	39.6
Total Debt	0	0	0	0	0
Net Debt	-539M	-1.2B	-1.42B	-1.45B	-671M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	5.6M	5.8M	6M	6M	7.1M
Full Time Employees	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	734M	701M	-466M	552M	1.11B
Depreciation & Amortization - CF	300M	286M	273M	225M	307M
Impairment of Oil, Gas & Mineral Properties - (CF)	-68M	-	1.17B	-	-4.8M
Depreciation & Amortization, Total	232M	286M	1.45B	225M	302M
(Gain) Loss From Sale Of Asset	-	-	-3.7M	-300K	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	8M	8.2M	5.5M	5.4M	6.3M
Other Operating Activities, Total	23.1M	15.4M	3.3M	25.6M	104M
Change In Accounts Receivable	-26.4M	-15.9M	24.7M	-40.8M	-90.1M
Change In Inventories	-	-	-	15.6M	-
Change In Accounts Payable	-	-	-	-	63.8M
Change in Other Net Operating Assets	-14.6M	5M	-18.6M	46.6M	-4.7M
Cash from Operations	955M	1B	991M	830M	1.49B
Capital Expenditure	-760M	-142M	-522M	-408M	-2.2B
Sale (Purchase) of Intangible assets	-	-	7M	11.2M	-
Investment in Marketable and Equity Securities, Total	-4.5M	-46.7M	-7.8M	-51.2M	49.6M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	42.7M	-18.7M	-89.3M	114M
Cash from Investing	-765M	-146M	-541M	-537M	-2.03B
Short Term Debt Issued, Total	150M	-	-	-	175M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	150M	-	-	-	175M
Short Term Debt Repaid, Total	-150M	-	-	-	-175M
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-150M	-	-	-	-175M
Issuance of Common Stock	400K	9.5M	2.9M	2.8M	7.7M
Common Dividends Paid	-180M	-198M	-233M	-242M	-275M
Common & Preferred Stock Dividends Paid	-180M	-198M	-233M	-242M	-275M
Other Financing Activities, Total	-1M	-900K	-	-800K	-
Cash from Financing	-180M	-189M	-230M	-240M	-267M
Foreign Exchange Rate Adjustments	-5.1M	-7.8M	5.4M	-22.4M	26.3M
Net Change in Cash	5.1M	657M	225M	29.4M	-780M
Supplemental Items
Cash Interest Paid	2.4M	2.4M	2.3M	2.1M	4M
Cash Income Tax Paid (Refund)	93.5M	95.1M	88.1M	73.8M	162M
Levered Free Cash Flow	-73.24M	700M	648M	245M	-1.07B
Unlevered Free Cash Flow	-72.36M	700M	649M	245M	-1.07B
Change In Net Working Capital	92.6M	-32.5M	17.8M	43.8M	29.5M
Net Debt Issued / Repaid	0	-	-	-	0

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	9.12	7.99	-4.28	7.34	11.54
Return on Total Capital	9.38	8.24	-4.43	7.69	12.34
Return On Equity %	12.79	11.26	-7.65	9.38	16.32
Return on Common Equity	12.79	11.26	-7.65	9.38	16.32
Margin Analysis
Gross Profit Margin %	86.44	86.69	85.44	88.52	90.89
SG&A Margin	2.37	1.71	2.01	2.41	1.64
EBITDA Margin %	84.18	84.26	83.38	86.1	91.33
EBITA Margin %	66.33	62.48	-35.48	65.66	74.6
EBIT Margin %	66.33	62.48	-35.48	65.66	74.6
Income From Continuing Operations Margin %	56.54	53.33	-38.33	50.09	61.64
Net Income Margin %	56.54	53.33	-38.33	50.09	61.64
Net Avail. For Common Margin %	56.54	53.33	-38.33	50.09	61.64
Normalized Net Income Margin	41.34	39.67	-18.9	43.66	49.26
Levered Free Cash Flow Margin	-5.64	53.26	53.27	22.2	-59.13
Unlevered Free Cash Flow Margin	-5.58	53.31	53.3	22.23	-59.1
Asset Turnover
Asset Turnover	0.22	0.2	0.19	0.18	0.25
Fixed Assets Turnover	0.26	0.26	0.27	0.27	0.36
Receivables Turnover (Average Receivables)	12.17	10.28	9.87	8.39	9.16
Inventory Turnover (Average Inventory)	351.8	582.67	590.67	32.44	41.59
Short Term Liquidity
Current Ratio	17.39	27.55	41.21	25.43	8.3
Quick Ratio	15.26	26.54	39.1	23.75	7.54
Operating Cash Flow to Current Liabilities	22.12	19.91	25.29	12.29	12.14
Days Sales Outstanding (Average Receivables)	29.99	35.5	37	43.63	39.83
Days Outstanding Inventory (Average Inventory)	1.04	0.63	0.62	11.28	8.77
Average Days Payable Outstanding	12.45	16.22	12.84	14.55	15.63
Cash Conversion Cycle (Average Days)	18.57	19.9	24.77	40.37	32.97
Long Term Solvency
Total Debt/Equity	-	-	-	-	-
Total Debt / Total Capital	-	-	-	-	-
LT Debt/Equity	-	-	-	-	-
Long-Term Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	2.97	3.16	3.75	5.27	7.35
EBIT / Interest Expense	614.79	820.7	-719.5	1.45K	1.92K
EBITDA / Interest Expense	780.21	1.11K	1.69K	1.9K	2.35K
(EBITDA - Capex) / Interest Expense	237	965.4	821.83	1.08K	-784.29
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-0.49	-1.08	-1.4	-1.53	-0.41
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	-1.63	-1.24	-2.88	-2.68	1.22
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	27.55	1.23	-7.36	-9.43	63.68
Gross Profit, 1 Yr. Growth %	30.22	1.52	-8.7	-6.16	68.06
EBITDA, 1 Yr. Growth %	30.1	1.34	-8.33	-6.57	73.62
EBITA, 1 Yr. Growth %	152.78	-4.65	-152.6	-268.03	85.96
EBIT, 1 Yr. Growth %	152.78	-4.65	-152.6	-268.03	85.96
Earnings From Cont. Operations, 1 Yr. Growth %	124.92	-4.51	-166.57	-218.37	101.43
Net Income, 1 Yr. Growth %	124.92	-4.51	-166.57	-218.37	101.43
Normalized Net Income, 1 Yr. Growth %	151.75	-2.81	-144.13	-309.84	84.67
Diluted EPS Before Extra, 1 Yr. Growth %	123.98	-4.7	-166.58	-218.09	100.73
Accounts Receivable, 1 Yr. Growth %	28.27	13.27	-18.2	36.76	59.35
Inventory, 1 Yr. Growth %	0	-80	400	1.36K	-91.78
Net Property, Plant and Equip., 1 Yr. Growth %	11.14	-4.31	-18.25	1.87	47.33
Total Assets, 1 Yr. Growth %	11.03	6.71	-9.55	5.61	30.19
Tangible Book Value, 1 Yr. Growth %	10.68	6.51	-10.11	3.94	27.33
Common Equity, 1 Yr. Growth %	10.68	6.51	-10.11	3.94	27.33
Cash From Operations, 1 Yr. Growth %	18.85	4.62	-0.83	-16.31	80.07
Capital Expenditures, 1 Yr. Growth %	143.28	-81.39	268.62	-21.78	438.41
Levered Free Cash Flow, 1 Yr. Growth %	-117.23	-1.06K	-7.35	-62.35	-535.93
Unlevered Free Cash Flow, 1 Yr. Growth %	-116.99	-1.07K	-7.38	-62.32	-535.19
Dividend Per Share, 1 Yr. Growth %	12.62	10.34	6.25	5.88	5.56
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	24.16	13.63	-3.16	-8.4	21.76
Gross Profit, 2 Yr. CAGR %	26.65	14.98	-3.72	-7.44	25.59
EBITDA, 2 Yr. CAGR %	27.36	14.82	-3.62	-7.41	27.37
EBITA, 2 Yr. CAGR %	44.85	55.25	-29.18	-6.1	76.77
EBIT, 2 Yr. CAGR %	44.85	55.25	-29.18	-6.1	76.77
Earnings From Cont. Operations, 2 Yr. CAGR %	46.02	46.55	-20.27	-11.23	54.42
Net Income, 2 Yr. CAGR %	46.02	46.55	-20.27	-11.23	54.42
Normalized Net Income, 2 Yr. CAGR %	45.77	56.38	-34.51	-3.9	96.85
Diluted EPS Before Extra, 2 Yr. CAGR %	44.67	46.1	-20.35	-11.33	53.96
Accounts Receivable, 2 Yr. CAGR %	10.68	20.54	-3.74	5.77	47.62
Inventory, 2 Yr. CAGR %	-66.29	-55.28	0	754.4	9.54
Net Property, Plant and Equip., 2 Yr. CAGR %	3.54	3.13	-11.55	-8.74	22.51
Total Assets, 2 Yr. CAGR %	8.44	8.85	-1.75	-2.26	17.26
Tangible Book Value, 2 Yr. CAGR %	9.1	8.58	-2.15	-3.34	15.04
Common Equity, 2 Yr. CAGR %	9.1	8.58	-2.15	-3.34	15.04
Cash From Operations, 2 Yr. CAGR %	24.37	11.5	1.86	-8.9	22.76
Capital Expenditures, 2 Yr. CAGR %	30.7	-32.72	-17.18	69.81	105.22
Levered Free Cash Flow, 2 Yr. CAGR %	3.81	28.31	197.5	-40.86	28.11
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.62	28.24	199.38	-40.85	28.05
Dividend Per Share, 2 Yr. CAGR %	8.25	11.48	8.28	6.07	5.72
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	25.86	15.99	6.15	-5.29	11.16
Gross Profit, 3 Yr. CAGR %	27.99	17.65	6.47	-4.54	12.92
EBITDA, 3 Yr. CAGR %	28.69	18.02	6.52	-4.58	14.18
EBITA, 3 Yr. CAGR %	65.81	26.01	8.23	-5.62	17.92
EBIT, 3 Yr. CAGR %	65.81	26.01	8.23	-5.62	17.92
Earnings From Cont. Operations, 3 Yr. CAGR %	74.11	26.74	12.66	-9.04	16.65
Net Income, 3 Yr. CAGR %	74.11	26.74	12.66	-9.04	16.65
Normalized Net Income, 3 Yr. CAGR %	65.56	27.32	2.57	-3.54	19.47
Diluted EPS Before Extra, 3 Yr. CAGR %	72.44	25.88	12.43	-9.18	16.42
Accounts Receivable, 3 Yr. CAGR %	16.64	11.54	5.92	8.21	21.25
Inventory, 3 Yr. CAGR %	-	-71.67	0	144.41	81.71
Net Property, Plant and Equip., 3 Yr. CAGR %	4.13	0.85	-4.56	-7.29	7.06
Total Assets, 3 Yr. CAGR %	7.98	7.86	2.34	0.64	7.54
Tangible Book Value, 3 Yr. CAGR %	9.16	8.23	1.95	-0.16	5.96
Common Equity, 3 Yr. CAGR %	9.16	8.23	1.95	-0.16	5.96
Cash From Operations, 3 Yr. CAGR %	26.25	17.4	7.23	-4.6	14.33
Capital Expenditures, 3 Yr. CAGR %	-8.4	-31.76	18.61	-18.74	149.46
Levered Free Cash Flow, 3 Yr. CAGR %	-48.79	117.54	15.11	49.5	15.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	-48.95	112.21	15.06	50.16	15.05
Dividend Per Share, 3 Yr. CAGR %	6.88	8.94	9.71	7.47	5.9
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	16.31	14.32	13.33	5.54	12.14
Gross Profit, 5 Yr. CAGR %	17.33	16.4	14.21	6.89	13.74
EBITDA, 5 Yr. CAGR %	17.75	16.84	14.64	7.1	14.44
EBITA, 5 Yr. CAGR %	43.53	28.37	17.99	12.02	31.64
EBIT, 5 Yr. CAGR %	43.53	28.37	17.99	12.02	31.64
Earnings From Cont. Operations, 5 Yr. CAGR %	43.12	29.19	27.39	9.92	27.8
Net Income, 5 Yr. CAGR %	43.12	29.19	27.39	9.92	27.8
Normalized Net Income, 5 Yr. CAGR %	43.51	28.42	14.24	13.77	33.06
Diluted EPS Before Extra, 5 Yr. CAGR %	40.89	28.06	26.61	9.41	27.49
Accounts Receivable, 5 Yr. CAGR %	11	15.54	8.01	9.19	20.96
Inventory, 5 Yr. CAGR %	-28.63	-57.37	-	10.66	3.71
Net Property, Plant and Equip., 5 Yr. CAGR %	6.96	4.54	-2.45	-3.1	5.47
Total Assets, 5 Yr. CAGR %	8.02	6.71	3.98	3.69	8.06
Tangible Book Value, 5 Yr. CAGR %	7.76	6.4	4.49	3.45	7
Common Equity, 5 Yr. CAGR %	7.76	6.4	4.49	3.45	7
Cash From Operations, 5 Yr. CAGR %	15.19	15.39	15.86	6.07	13.19
Capital Expenditures, 5 Yr. CAGR %	0.36	-22.35	-12.02	-1.73	47.69
Levered Free Cash Flow, 5 Yr. CAGR %	-22.83	51.61	3.52	29.2	20.21
Unlevered Free Cash Flow, 5 Yr. CAGR %	-22.96	51.83	3.59	27.31	20.15
Dividend Per Share, 5 Yr. CAGR %	5.92	7.06	7.44	7.78	8.09