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Franco-Nevada (TSE:FNV)
TSX:FNV
Earnings Data
Report Date
May 06, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.9Last Year’s EPS
1.46Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance for 2025 (record revenue, EBITDA, net income, margins, and near‑top guidance execution), supported by a debt‑free balance sheet, growing dividend, and accretive, low‑cost resource additions. Key risks and lowlights include rising per‑unit depletion and cash costs, several asset‑specific uncertainties (notably Cobre Panama timing and several true‑ups/buyback accounting items), and exposure to commodity price volatility. Overall, the positive results, strong cash position, and pipeline of low‑cost acquisitions significantly outweigh the highlighted uncertainties.Company Guidance
Record Financial Results
Total revenue for 2025 rose 64% year-over-year; adjusted EBITDA increased 74% for the year. Fourth-quarter revenue was a record $597.3 million (up 86% YoY) and Q4 adjusted EBITDA was $541.2 million (up 95% YoY). Adjusted net income for Q4 was $356.2 million ($1.85 per share), up 94% versus prior year.
Strong Production and GEOs
Total GEOs sold in 2025 were 519,106, near the top of revised guidance. Precious metal GEOs were 440,140 and diversified GEOs were 78,966. Q4 total GEOs rose 18% to 141,856, and Q4 precious metal GEOs were 127,959 (up 34% YoY).
Outstanding Profitability and Margins
Adjusted EBITDA margin for 2025 was 91%; adjusted net income margin was 59%. Management reported annual earnings increased roughly 75% with more than $1 billion in earnings and approximately a 60% earnings margin.
Substantial Balance Sheet and Capital Position
Franco‑Nevada is debt-free with $3.1 billion in available capital, positioning the company for further acquisitive growth and optionality.
Dividend Growth
Dividend increased for the 19th consecutive year; a higher-than-normal 16% dividend increase was announced in January 2026 reflecting strong cash flow.
Accretive, Low-Cost Resource Additions
Post-year-end transactions added 820,000 royalty ounces (undiscounted value > $4 billion at current gold prices) at an average cost of ~$770 per ounce — highlighted as a low cost per ounce relative to sector transactions.
Positive Multi-Year Outlook and Guidance
2026 GEO guidance of 510,000–570,000 (90% precious metals) with a 5‑year outlook showing continued growth. 2030 guidance is 555,000–615,000 GEOs with ~13% built-in organic growth to 2030 (excluding Cobre Panama).
Portfolio Diversification and Low Single-Asset Concentration
85% of 2025 revenue was from precious metals, 88% sourced from the Americas, and no single asset generated more than 13% of revenue, underscoring a diversified portfolio.
Operational and Strategic Wins in Dealmaking
Completed several strategic financings and royalties/streams (Canada, Nevada, Australia) including additions like Western Limb, Porcupine, Cote and Bullabulling; management highlighted successful partnerships and early share-price gains in backed companies.
Unit Economics Improved Dramatically
Margin per GEO increased from $1,528 in 2020 to $3,110 in 2025 (a 204% increase) while average gold price rose ~194% over the same period, demonstrating high operating leverage of the royalty/stream model.
TSE:FNV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:FNV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 10, 2026 | C$356.29 | C$359.88 | +1.01% |
Nov 03, 2025 | C$263.47 | C$259.37 | -1.55% |
Aug 11, 2025 | C$234.81 | C$241.09 | +2.68% |
May 08, 2025 | C$228.46 | C$233.90 | +2.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Franco-Nevada (TSE:FNV) report earnings?
Franco-Nevada (TSE:FNV) is schdueled to report earning on May 06, 2026, After Close (Confirmed).
What is Franco-Nevada (TSE:FNV) earnings time?
Franco-Nevada (TSE:FNV) earnings time is at May 06, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:FNV EPS forecast?
TSE:FNV EPS forecast for the fiscal quarter 2026 (Q1) is 2.9.