Financials Franco-Nevada Corporation

Equities

FNV

CA3518581051

Gold

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
168 CAD +1.11% Intraday chart for Franco-Nevada Corporation +0.58% +14.44%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 19,453 23,912 26,453 26,089 21,269 23,596 - -
Enterprise Value (EV) 1 19,401 23,377 25,914 24,893 21,269 21,657 22,353 20,496
P/E ratio 56.4 x 73.3 x 36.1 x 37.3 x -45.6 x 43.8 x 36.1 x 30.9 x
Yield 0.96% 0.82% 0.84% 0.94% - 1.15% 1.14% 1.17%
Capitalization / Revenue 23 x 23.4 x 20.3 x 19.8 x 17.4 x 22.2 x 19.1 x 19.5 x
EV / Revenue 23 x 22.9 x 19.9 x 18.9 x 17.4 x 20.3 x 18.1 x 16.9 x
EV / EBITDA 28.8 x 27.8 x 23.7 x 22.5 x 21 x 23 x 19.8 x 17.8 x
EV / FCF 112 x 47.4 x 133 x 29 x - 29.3 x 23.8 x 23 x
FCF Yield 0.89% 2.11% 0.75% 3.45% - 3.42% 4.2% 4.35%
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 2 103.2 125.3 138.4 136.1 110.7 122.7 122.7 122.7
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 1,065 1,236 1,209
EBITDA 1 673.4 839.6 1,092 1,107 1,015 940.7 1,130 1,150
EBIT 1 410.2 336.5 860.7 820.7 -428 695.6 815.7 842.7
Operating Margin 48.6% 32.98% 66.21% 62.38% -35.11% 65.34% 66.01% 69.68%
Earnings before Tax (EBT) 1 405.9 339.5 857.8 833.7 -364.2 718.9 819.6 929
Net income 1 344.1 326.2 733.7 700.6 -466.4 578.4 654.2 766
Net margin 40.77% 31.97% 56.44% 53.25% -38.26% 54.34% 52.95% 63.34%
EPS 2 1.830 1.710 3.830 3.650 -2.430 2.800 3.395 3.965
Free Cash Flow 1 172.5 492.8 194.9 858 - 740.2 938.4 891.2
FCF margin 20.44% 48.3% 14.99% 65.21% - 69.54% 75.95% 73.69%
FCF Conversion (EBITDA) 25.62% 58.69% 17.84% 77.51% - 78.69% 83.07% 77.51%
FCF Conversion (Net income) 50.13% 151.07% 26.56% 122.47% - 127.98% 143.43% 116.34%
Dividend per Share 2 0.9900 1.030 1.160 1.280 - 1.413 1.400 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 Q3 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
Net sales 1 316.3 327.7 338.8 352.3 304.2 320.4 276.3 329.9 309.5 303.3 249 271.2 285.8 289.5 -
EBITDA 1 269.8 269.8 286.6 301.2 256.7 262.4 229.4 275.6 255.1 254.6 213.2 225 239.5 242.7 252.4
EBIT 1 196.8 267.1 212 231.6 188.2 188.9 172.1 200.5 187 -987.6 156.6 182.5 200.8 198 -
Operating Margin 62.22% 81.51% 62.57% 65.74% 61.87% 58.96% 62.29% 60.78% 60.42% -325.62% 62.87% 67.31% 70.24% 68.41% -
Earnings before Tax (EBT) 1 196.2 264.9 - - - - 184.1 211.5 185.2 -959.8 144 169 180 183 -
Net income 1 166 220.9 182 - - - 156.5 184.5 175.1 -982.5 125.9 146.8 153.1 153.5 -
Net margin 52.48% 67.41% 53.72% - - - 56.64% 55.93% 56.58% -323.94% 50.57% 54.14% 53.56% 53.03% -
EPS 2 0.8700 1.150 0.9500 1.020 0.8200 0.8600 0.8100 0.9600 0.9100 -5.110 0.6800 0.7433 0.7767 0.7767 0.8800
Dividend per Share 0.3000 0.3000 - - - - - - - - - - - - -
Announcement Date 11/3/21 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 - - - - -
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 1,243 3,100
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 173 493 195 858 - 740 938 891
ROE (net income / shareholders' equity) 7.05% 9.83% 11.7% 11.3% - 10% 11.7% 10.6%
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 - 4.620 5.400 5.280
Capex 1 445 311 761 142 - 504 383 -
Capex / Sales 52.74% 30.49% 58.5% 10.75% - 47.35% 31.02% -
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
122.7 USD
Average target price
143.5 USD
Spread / Average Target
+16.93%
Consensus
  1. Stock Market
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