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FRANCO-NEVADA CORP (FNV) Stock Fundamental Analysis

NYSE:FNV - New York Stock Exchange, Inc. - CA3518581051 - Common Stock

125.78  +0.97 (+0.78%)

After market: 125.78 0 (0%)

Fundamental Rating

6

FNV gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 154 industry peers in the Metals & Mining industry. FNV is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. FNV is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

FNV had positive earnings in the past year.
In the past year FNV had a positive cash flow from operations.
FNV had positive earnings in 4 of the past 5 years.
In the past 5 years FNV always reported a positive cash flow from operatings.
FNV Yearly Net Income VS EBIT VS OCF VS FCFFNV Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M

1.2 Ratios

Looking at the Return On Assets, with a value of -9.62%, FNV is doing worse than 70.07% of the companies in the same industry.
The Return On Equity of FNV (-10.12%) is worse than 65.31% of its industry peers.
With an excellent Return On Invested Capital value of 9.27%, FNV belongs to the best of the industry, outperforming 82.31% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for FNV is in line with the industry average of 8.76%.
Industry RankSector Rank
ROA -9.62%
ROE -10.12%
ROIC 9.27%
ROA(3y)4.87%
ROA(5y)5.39%
ROE(3y)5%
ROE(5y)5.56%
ROIC(3y)10.56%
ROIC(5y)9.44%
FNV Yearly ROA, ROE, ROICFNV Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 -5 10

1.3 Margins

The Operating Margin of FNV (62.77%) is better than 98.64% of its industry peers.
FNV's Operating Margin has improved in the last couple of years.
FNV has a better Gross Margin (65.88%) than 95.24% of its industry peers.
In the last couple of years the Gross Margin of FNV has grown nicely.
Industry RankSector Rank
OM 62.77%
PM (TTM) N/A
GM 65.88%
OM growth 3Y1.43%
OM growth 5Y8.35%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.13%
GM growth 5Y7.41%
FNV Yearly Profit, Operating, Gross MarginsFNV Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40 60

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9

2. Health

2.1 Basic Checks

FNV has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for FNV remains at a similar level compared to 1 year ago.
FNV has more shares outstanding than it did 5 years ago.
There is no outstanding debt for FNV. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
FNV Yearly Shares OutstandingFNV Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
FNV Yearly Total Debt VS Total AssetsFNV Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.2 Solvency

FNV has an Altman-Z score of 46.98. This indicates that FNV is financially healthy and has little risk of bankruptcy at the moment.
FNV has a Altman-Z score of 46.98. This is amongst the best in the industry. FNV outperforms 91.84% of its industry peers.
There is no outstanding debt for FNV. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Altman-Z 46.98
ROIC/WACC0.92
WACC10.1%
FNV Yearly LT Debt VS Equity VS FCFFNV Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B

2.3 Liquidity

A Current Ratio of 23.39 indicates that FNV has no problem at all paying its short term obligations.
FNV's Current ratio of 23.39 is amongst the best of the industry. FNV outperforms 95.24% of its industry peers.
A Quick Ratio of 23.39 indicates that FNV has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 23.39, FNV belongs to the top of the industry, outperforming 95.24% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 23.39
Quick Ratio 23.39
FNV Yearly Current Assets VS Current LiabilitesFNV Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

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4

3. Growth

3.1 Past

FNV shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -8.55%.
FNV shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 25.07% yearly.
The Revenue for FNV has decreased by -11.34% in the past year. This is quite bad
FNV shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.29% yearly.
EPS 1Y (TTM)-8.55%
EPS 3Y9.42%
EPS 5Y25.07%
EPS Q2Q%-12.09%
Revenue 1Y (TTM)-11.34%
Revenue growth 3Y6.11%
Revenue growth 5Y13.29%
Sales Q2Q%-10.99%

3.2 Future

FNV is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.61% yearly.
The Revenue is expected to grow by 6.31% on average over the next years.
EPS Next Y-8.99%
EPS Next 2Y7.2%
EPS Next 3Y9.67%
EPS Next 5Y6.61%
Revenue Next Year-8.7%
Revenue Next 2Y5.47%
Revenue Next 3Y8.34%
Revenue Next 5Y6.31%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
FNV Yearly Revenue VS EstimatesFNV Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
FNV Yearly EPS VS EstimatesFNV Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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2

4. Valuation

4.1 Price/Earnings Ratio

FNV is valuated quite expensively with a Price/Earnings ratio of 39.18.
FNV's Price/Earnings ratio is in line with the industry average.
FNV is valuated rather expensively when we compare the Price/Earnings ratio to 27.96, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 30.83 indicates a quite expensive valuation of FNV.
Compared to the rest of the industry, the Price/Forward Earnings ratio of FNV is on the same level as its industry peers.
The average S&P500 Price/Forward Earnings ratio is at 24.11. FNV is valued slightly more expensive when compared to this.
Industry RankSector Rank
PE 39.18
Fwd PE 30.83
FNV Price Earnings VS Forward Price EarningsFNV Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

FNV's Enterprise Value to EBITDA ratio is in line with the industry average.
The rest of the industry has a similar Price/Free Cash Flow ratio as FNV.
Industry RankSector Rank
P/FCF 63.35
EV/EBITDA 24.63
FNV Per share dataFNV EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

FNV has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.56
EPS Next 2Y7.2%
EPS Next 3Y9.67%

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4

5. Dividend

5.1 Amount

With a yearly dividend of 0.80%, FNV is not a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.22, FNV pays a bit more dividend than its industry peers.
With a Dividend Yield of 0.80, FNV pays less dividend than the S&P500 average, which is at 2.29.
Industry RankSector Rank
Dividend Yield 0.8%

5.2 History

The dividend of FNV is nicely growing with an annual growth rate of 10.68%!
FNV has been paying a dividend for at least 10 years, so it has a reliable track record.
FNV has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)10.68%
Div Incr Years16
Div Non Decr Years16
FNV Yearly Dividends per shareFNV Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1

5.3 Sustainability

The earnings of FNV are negative and hence is the payout ratio. FNV will probably not be able to sustain this dividend level.
FNV's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP-39.63%
EPS Next 2Y7.2%
EPS Next 3Y9.67%
FNV Yearly Income VS Free CF VS DividendFNV Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M

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FRANCO-NEVADA CORP

NYSE:FNV (1/17/2025, 8:04:00 PM)

After market: 125.78 0 (0%)

125.78

+0.97 (+0.78%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-06 2024-11-06/amc
Earnings (Next)N/A N/A
Inst Owners77.7%
Inst Owner Change-0.02%
Ins Owners0.7%
Ins Owner ChangeN/A
Market Cap24.21B
Analysts78.1
Price Target148.71 (18.23%)
Short Float %0.89%
Short Ratio2.48
Dividend
Industry RankSector Rank
Dividend Yield 0.8%
Yearly Dividend1.21
Dividend Growth(5Y)10.68%
DP-39.63%
Div Incr Years16
Div Non Decr Years16
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.93%
Min EPS beat(2)-9.32%
Max EPS beat(2)-6.54%
EPS beat(4)2
Avg EPS beat(4)-1.06%
Min EPS beat(4)-9.32%
Max EPS beat(4)6.46%
EPS beat(8)5
Avg EPS beat(8)-0.5%
EPS beat(12)6
Avg EPS beat(12)-0.97%
EPS beat(16)10
Avg EPS beat(16)1.13%
Revenue beat(2)0
Avg Revenue beat(2)-3.84%
Min Revenue beat(2)-4.67%
Max Revenue beat(2)-3.01%
Revenue beat(4)1
Avg Revenue beat(4)-3.9%
Min Revenue beat(4)-8.88%
Max Revenue beat(4)0.97%
Revenue beat(8)2
Avg Revenue beat(8)-3.14%
Revenue beat(12)2
Avg Revenue beat(12)-3.05%
Revenue beat(16)5
Avg Revenue beat(16)-1.36%
PT rev (1m)-1.38%
PT rev (3m)-0.59%
EPS NQ rev (1m)0%
EPS NQ rev (3m)17.76%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.98%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)13.53%
Revenue NY rev (1m)0.72%
Revenue NY rev (3m)-1.94%
Valuation
Industry RankSector Rank
PE 39.18
Fwd PE 30.83
P/S 22.09
P/FCF 63.35
P/OCF 27.83
P/B 4.04
P/tB 4.04
EV/EBITDA 24.63
EPS(TTM)3.21
EY2.55%
EPS(NY)4.08
Fwd EY3.24%
FCF(TTM)1.99
FCFY1.58%
OCF(TTM)4.52
OCFY3.59%
SpS5.69
BVpS31.1
TBVpS31.1
PEG (NY)N/A
PEG (5Y)1.56
Profitability
Industry RankSector Rank
ROA -9.62%
ROE -10.12%
ROCE 11.04%
ROIC 9.27%
ROICexc 11.76%
ROICexgc 11.76%
OM 62.77%
PM (TTM) N/A
GM 65.88%
FCFM 34.88%
ROA(3y)4.87%
ROA(5y)5.39%
ROE(3y)5%
ROE(5y)5.56%
ROIC(3y)10.56%
ROIC(5y)9.44%
ROICexc(3y)12.77%
ROICexc(5y)10.99%
ROICexgc(3y)12.77%
ROICexgc(5y)10.99%
ROCE(3y)12.56%
ROCE(5y)11.23%
ROICexcg growth 3Y11.25%
ROICexcg growth 5Y24.36%
ROICexc growth 3Y11.25%
ROICexc growth 5Y24.36%
OM growth 3Y1.43%
OM growth 5Y8.35%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.13%
GM growth 5Y7.41%
F-Score4
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 208.28%
Cap/Sales 44.51%
Interest Coverage 343.95
Cash Conversion 94.35%
Profit Quality N/A
Current Ratio 23.39
Quick Ratio 23.39
Altman-Z 46.98
F-Score4
WACC10.1%
ROIC/WACC0.92
Cap/Depr(3y)164.76%
Cap/Depr(5y)158.63%
Cap/Sales(3y)37.35%
Cap/Sales(5y)39.09%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-8.55%
EPS 3Y9.42%
EPS 5Y25.07%
EPS Q2Q%-12.09%
EPS Next Y-8.99%
EPS Next 2Y7.2%
EPS Next 3Y9.67%
EPS Next 5Y6.61%
Revenue 1Y (TTM)-11.34%
Revenue growth 3Y6.11%
Revenue growth 5Y13.29%
Sales Q2Q%-10.99%
Revenue Next Year-8.7%
Revenue Next 2Y5.47%
Revenue Next 3Y8.34%
Revenue Next 5Y6.31%
EBIT growth 1Y-7.4%
EBIT growth 3Y7.63%
EBIT growth 5Y22.75%
EBIT Next Year19.14%
EBIT Next 3Y18.65%
EBIT Next 5Y11.92%
FCF growth 1Y-60.33%
FCF growth 3Y-1.49%
FCF growth 5YN/A
OCF growth 1Y-12.93%
OCF growth 3Y7.23%
OCF growth 5Y15.86%