Franco-Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The last earnings update was 6 days ago. More info.
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FNV Share Price and Events
7 Day Returns
1 Year Returns
FNV Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Franco-Nevada (FNV) | 1% | 1.1% | 6.1% | 12.3% | 27.2% | 100.7% |
| CA Metals and Mining | 1.7% | 0.4% | 13.7% | -3.9% | 15% | -18.9% |
| CA Market | -0% | 0.5% | 15.3% | 2.6% | 16.8% | 5.3% |
1 Year Return vs Industry and Market
- FNV outperformed the Metals and Mining industry which returned -3.9% over the past year.
- FNV outperformed the Market in Canada which returned 2.6% over the past year.
Price Volatility
Related Companies
FNV Value
Is Franco-Nevada undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Franco-Nevada
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Franco-Nevada.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 11 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.6% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 1.16 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.164 (1 + (1- 26.5%) (1.46%)) |
1.118 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.12 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.118 * 5.96%) |
8.61% |
Discounted Cash Flow Calculation for TSX:FNV using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Franco-Nevada is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 8.61%) |
|
|---|---|---|---|
| 2019 | 442.63 | Analyst x8 | 407.53 |
| 2020 | 521.25 | Analyst x8 | 441.87 |
| 2021 | 418.33 | Analyst x3 | 326.51 |
| 2022 | 525.00 | Analyst x2 | 377.28 |
| 2023 | 527.50 | Analyst x2 | 349.02 |
| 2024 | 532.34 | Est @ 0.92% | 324.29 |
| 2025 | 538.86 | Est @ 1.23% | 302.24 |
| 2026 | 546.63 | Est @ 1.44% | 282.29 |
| 2027 | 555.35 | Est @ 1.59% | 264.05 |
| 2028 | 564.78 | Est @ 1.7% | 247.25 |
| Present value of next 10 years cash flows | $3,322.35 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $564.78 × (1 + 1.95%) ÷ (8.61% – 1.95%) |
$8,639.98 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $8,639.98 ÷ (1 + 8.61%)10 |
$3,782.41 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $3,322.35 + $3,782.41 |
$7,104.76 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $7,104.76 / 187.08 |
$37.98 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:FNV) |
1.341 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $37.98 x 1.341 |
CA$50.91 |
| Value per share (CAD) | From above. | CA$50.91 |
| Current discount | Discount to share price of
CA$101.94
= -1 x (CA$101.94 - CA$50.91) / CA$50.91 |
-100.2% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Franco-Nevada is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Franco-Nevada's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Franco-Nevada's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.75 |
| TSX:FNV Share Price ** | TSX (2019-03-22) in CAD | CA$101.94 |
| TSX:FNV Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.746 | $76.04 |
| Canada Metals and Mining Industry PE Ratio | Median Figure of 115 Publicly-Listed Metals and Mining Companies | 13.35x |
| Canada Market PE Ratio | Median Figure of 555 Publicly-Listed Companies | 14.94x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Franco-Nevada.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:FNV Share Price ÷ EPS (both in USD) = 76.04 ÷ 0.75 |
101.8x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Franco-Nevada is overvalued based on earnings compared to the CA Metals and Mining industry average.
- Franco-Nevada is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does
Franco-Nevada's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 101.8x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts |
11.8%per year |
| Canada Metals and Mining Industry PEG Ratio | Median Figure of 35 Publicly-Listed Metals and Mining Companies | 0.65x |
| Canada Market PEG Ratio | Median Figure of 254 Publicly-Listed Companies | 1.22x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 101.8x ÷ 11.8% |
8.59x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Franco-Nevada is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Franco-Nevada's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $24.81 |
| TSX:FNV Share Price * | TSX (2019-03-22) in CAD | CA$101.94 |
| TSX:FNV Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.746 | $76.04 |
| Canada Metals and Mining Industry PB Ratio | Median Figure of 1,081 Publicly-Listed Metals and Mining Companies | 1.46x |
| Canada Market PB Ratio | Median Figure of 2,355 Publicly-Listed Companies | 1.57x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:FNV Share Price ÷ Book Value per Share (both in USD) = 76.04 ÷ 24.81 |
3.06x |
* Primary Listing of Franco-Nevada.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Franco-Nevada is overvalued based on assets compared to the CA Metals and Mining industry average.
Value checks
We assess Franco-Nevada's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) Franco-Nevada has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
FNV Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Franco-Nevada's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- Franco-Nevada's earnings growth is positive but not above the Canada market average.
- Franco-Nevada's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:FNV Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts | 11.8% |
| TSX:FNV Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts | 6% |
| Canada Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 34.3% |
| Canada Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 6.9% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 18.2% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 745 | 618 | 282 | 1 |
| 2022-12-31 | 771 | 615 | 282 | 1 |
| 2021-12-31 | 813 | 603 | 289 | 4 |
| 2020-12-31 | 827 | 603 | 279 | 11 |
| 2019-12-31 | 723 | 534 | 239 | 9 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 651 | 475 | 139 |
| 2018-09-30 | 670 | 503 | 214 |
| 2018-06-30 | 671 | 491 | 222 |
| 2018-03-31 | 673 | 506 | 214 |
| 2017-12-31 | 673 | 489 | 195 |
| 2017-09-30 | 663 | 484 | 147 |
| 2017-06-30 | 663 | 490 | 141 |
| 2017-03-31 | 650 | 467 | 138 |
| 2016-12-31 | 610 | 471 | 122 |
| 2016-09-30 | 573 | 434 | 95 |
| 2016-06-30 | 505 | 412 | 56 |
| 2016-03-31 | 464 | 369 | 35 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
All data from Franco-Nevada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 1.51 | 1.51 | 1.51 | 1.00 |
| 2022-12-31 | 1.51 | 1.51 | 1.51 | 1.00 |
| 2021-12-31 | 1.55 | 1.79 | 1.42 | 3.00 |
| 2020-12-31 | 1.50 | 1.61 | 1.40 | 6.00 |
| 2019-12-31 | 1.28 | 1.40 | 1.14 | 7.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.75 |
| 2018-09-30 | 1.15 |
| 2018-06-30 | 1.19 |
| 2018-03-31 | 1.16 |
| 2017-12-31 | 1.06 |
| 2017-09-30 | 0.81 |
| 2017-06-30 | 0.79 |
| 2017-03-31 | 0.77 |
| 2016-12-31 | 0.70 |
| 2016-09-30 | 0.56 |
| 2016-06-30 | 0.34 |
| 2016-03-31 | 0.22 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Franco-Nevada's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Franco-Nevada has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
FNV Past Performance
How has Franco-Nevada performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Franco-Nevada has delivered over 20% year on year earnings growth in the past 5 years.
- Franco-Nevada's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Franco-Nevada's 1-year earnings growth is negative, it can't be compared to the CA Metals and Mining industry average.
Earnings and Revenue History
All data from Franco-Nevada Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 650.90 | 139.00 | 22.60 | |
| 2018-09-30 | 670.00 | 213.80 | 24.40 | |
| 2018-06-30 | 671.00 | 221.70 | 24.40 | |
| 2018-03-31 | 673.40 | 213.70 | 24.00 | |
| 2017-12-31 | 672.70 | 194.70 | 24.90 | |
| 2017-09-30 | 663.10 | 146.70 | 26.00 | |
| 2017-06-30 | 663.10 | 141.10 | 25.10 | |
| 2017-03-31 | 650.10 | 137.80 | 24.50 | |
| 2016-12-31 | 609.70 | 122.20 | 24.10 | |
| 2016-09-30 | 573.10 | 95.30 | 18.80 | |
| 2016-06-30 | 505.10 | 56.10 | 19.50 | |
| 2016-03-31 | 463.50 | 35.40 | 18.90 | |
| 2015-12-31 | 441.00 | 24.60 | 17.80 | |
| 2015-09-30 | 443.50 | 57.20 | 19.70 | |
| 2015-06-30 | 448.10 | 75.20 | 18.60 | |
| 2015-03-31 | 447.50 | 90.50 | 18.50 | |
| 2014-12-31 | 442.40 | 106.70 | 18.60 | |
| 2014-09-30 | 419.40 | 24.90 | 18.70 | |
| 2014-06-30 | 410.60 | 27.00 | 19.40 | |
| 2014-03-31 | 396.20 | 11.70 | 18.30 | |
| 2013-12-31 | 400.90 | 11.70 | 18.20 | |
| 2013-09-30 | 415.00 | 59.20 | 20.10 | |
| 2013-06-30 | 421.40 | 75.90 | 20.20 | |
| 2013-03-31 | 430.80 | 91.20 | 20.60 | |
| 2012-12-31 | 427.00 | 102.60 | 20.00 | |
| 2012-09-30 | 431.40 | 30.30 | 20.20 | |
| 2012-06-30 | 439.50 | 22.40 | 20.40 | |
| 2012-03-31 | 443.10 | 18.80 | 21.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Franco-Nevada has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Franco-Nevada used its assets less efficiently than the CA Metals and Mining industry average last year based on Return on Assets.
- Franco-Nevada has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Franco-Nevada's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Franco-Nevada has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
FNV Health
How is Franco-Nevada's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Franco-Nevada's finances.
The net worth of a company is the difference between its assets and liabilities.
- Franco-Nevada is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Franco-Nevada's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Franco-Nevada Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 4,631.90 | 207.60 | 69.70 |
| 2018-09-30 | 4,744.90 | 0.00 | 76.90 |
| 2018-06-30 | 4,700.20 | 0.00 | 72.10 |
| 2018-03-31 | 4,687.10 | 0.00 | 87.70 |
| 2017-12-31 | 4,705.50 | 0.00 | 511.10 |
| 2017-09-30 | 4,663.90 | 0.00 | 546.00 |
| 2017-06-30 | 4,573.20 | 0.00 | 614.30 |
| 2017-03-31 | 4,174.90 | 0.00 | 283.00 |
| 2016-12-31 | 4,146.50 | 0.00 | 253.00 |
| 2016-09-30 | 4,188.10 | 0.00 | 277.60 |
| 2016-06-30 | 4,157.90 | 0.00 | 225.80 |
| 2016-03-31 | 4,134.20 | 0.00 | 186.90 |
| 2015-12-31 | 3,163.00 | 457.30 | 168.00 |
| 2015-09-30 | 3,246.90 | 0.00 | 613.90 |
| 2015-06-30 | 3,322.90 | 0.00 | 610.80 |
| 2015-03-31 | 3,306.60 | 0.00 | 598.50 |
| 2014-12-31 | 3,405.50 | 0.00 | 592.50 |
| 2014-09-30 | 3,465.30 | 0.00 | 1,221.90 |
| 2014-06-30 | 3,034.90 | 0.00 | 716.00 |
| 2014-03-31 | 2,972.60 | 0.00 | 680.20 |
| 2013-12-31 | 2,963.80 | 0.00 | 788.00 |
| 2013-09-30 | 3,111.30 | 0.00 | 841.60 |
| 2013-06-30 | 3,070.20 | 0.00 | 797.00 |
| 2013-03-31 | 3,130.80 | 0.00 | 825.80 |
| 2012-12-31 | 3,149.10 | 0.00 | 779.90 |
| 2012-09-30 | 3,221.20 | 0.00 | 1,130.60 |
| 2012-06-30 | 3,055.70 | 0.00 | 987.10 |
| 2012-03-31 | 3,068.30 | 0.00 | 952.80 |
- Franco-Nevada's level of debt (4.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (0% vs 4.5% today).
- Debt is well covered by operating cash flow (228.7%, greater than 20% of total debt).
- Franco-Nevada earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Franco-Nevada's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Franco-Nevada has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
FNV Dividends
What is Franco-Nevada's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
Franco-Nevada
shares you are expected to receive
CA$25
in your first year as a dividend.
Dividend Amount
- Franco-Nevada's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.05%).
- Franco-Nevada's dividend is below the markets top 25% of dividend payers in Canada (5.67%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 11 Analyst Estimates (S&P Global) | See Below |
| Canada Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 28 Stocks | 1.1% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 331 Stocks | 3.6% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 0.96 | 1.00 |
| 2020-12-31 | 0.99 | 5.00 |
| 2019-12-31 | 0.98 | 4.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-07 | 0.960 | 1.269 |
| 2018-08-08 | 0.960 | 1.429 |
| 2018-05-09 | 0.960 | 1.335 |
| 2018-02-08 | 0.920 | 1.304 |
| 2017-11-06 | 0.920 | 1.164 |
| 2017-08-08 | 0.920 | 1.154 |
| 2017-05-09 | 0.920 | 1.270 |
| 2017-02-09 | 0.880 | 1.334 |
| 2016-11-08 | 0.880 | 1.455 |
| 2016-08-08 | 0.880 | 1.257 |
| 2016-02-11 | 0.840 | 1.263 |
| 2015-11-12 | 0.840 | 1.795 |
| 2015-11-11 | 0.840 | 1.787 |
| 2015-08-10 | 0.840 | 1.832 |
| 2015-02-18 | 0.800 | 1.653 |
| 2014-11-05 | 0.800 | 1.536 |
| 2014-08-07 | 0.800 | 1.513 |
| 2014-03-19 | 0.800 | 1.588 |
| 2013-11-05 | 0.720 | 1.613 |
| 2013-08-07 | 0.720 | 1.626 |
| 2013-05-08 | 0.720 | 1.842 |
| 2013-03-19 | 0.720 | 1.717 |
| 2012-11-06 | 0.720 | 1.341 |
| 2012-08-08 | 0.600 | 1.097 |
| 2012-05-08 | 0.600 | 1.338 |
| 2012-03-22 | 0.480 | 1.129 |
| 2011-11-08 | 0.480 | 1.155 |
| 2011-08-09 | 0.480 | 1.180 |
| 2011-05-12 | 0.480 | 1.247 |
| 2011-03-24 | 0.480 | 1.277 |
| 2010-08-11 | 0.282 | 0.923 |
| 2010-05-12 | 0.278 | 0.945 |
| 2009-11-09 | 0.260 | 0.999 |
| 2009-05-11 | 0.238 | 0.997 |
| 2009-04-14 | 0.196 | 0.923 |
| 2009-03-26 | 0.196 | 0.935 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Income/ dividend checks
We assess Franco-Nevada's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Franco-Nevada afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Franco-Nevada has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
FNV Management
CEO
| COMPENSATION | $4,517,178 |
| AGE | 61 |
CEO Bio
Mr. David Harquail serves as the Chief Executive Officer of Franco-Nevada Corporation and served as President until May 2018. Mr. Harquail serves as Director of Bank of Montreal since April 5, 2018. Mr. Harquail served as the President and Managing Director of Newmont Capital Limited, a subsidiary of Newmont Mining Corp. since May 15, 2002 until 2006. He served as an Executive Vice President of Franco-Nevada since 2006 and served as President and Managing Director of Franco-Nevada Capital of Franco-Nevada, since 2002. Mr. Harquail served as an Executive Vice President of Business Development and Exploration at Newmont Mining Corp. since November 1, 2006 until 2007. He served as senior executive of the original Franco-Nevada group of companies since 1987. Mr. Harquail served as an Executive Vice President of Newmont Mining Corp., until November 13, 2007 and its Vice President since September 2003 and Vice President of Merchant Banking since April 2004. He was responsible for overseeing the activities of Newmont Capital, as well as the exploration and technical services functions. He served as an Executive Vice President of Business Development & Exploration of Newmont Mining Corp. of Canada Ltd. until November 2007. Mr. Harquail served as the Senior Vice President of Newmont Mining Corporation of Canada Limited (formerly Franco-Nevada Mining Corporation Limited) from May 1998 to February 2002. He served as the President and Chief Executive Officer of Redstone Resources Inc. He was with Franco-Nevada for 15 years as a Senior Executive. He has been a Director of Franco-Nevada Corporation since November 13, 2007. He is Chair of the World Gold Council. He served as a Director of Kinross Gold Corporation of Echo Bay Mines Ltd. since January 31, 2003. He served as a Director of Inco Limited. He served on the board of the Prospectors and Developers Association of Canada. He is a Professional Engineer designation with the Professional Engineers of Ontario. Mr. Harquail holds a B.A.Sc. in Geological Engineering from the University of Toronto, a Master of Business Administration from McGill University. He is also a major benefactor of the School of Earth Sciences and its Mineral Exploration Research Centre (MERC) at Laurentian University in Sudbury as well as the Centre for Neuromodulation at Sunnybrook Health Sciences in Toronto. He was a Task Force Advisor to the Toronto Stock Exchange.
CEO Compensation
- David's compensation has been consistent with company performance over the past year.
- David's remuneration is lower than average for companies of similar size in Canada.
Management Team Tenure
Average tenure of the Franco-Nevada management team in years:
- The tenure for the Franco-Nevada management team is about average.
Management Team
David Harquail
CEO & Director
$5M
61
Paul Brink
President & COO
$2M
0.8 yrs
Sandip Rana
Chief Financial Officer
$2M
8.9 yrs
Lloyd Hong
Chief Legal Officer & Corporate Secretary
$2M
Jason O’Connell
Vice President of Oil & Gas
$1M
2.8 yrs
Kevin McElligott
Managing Director of Australia
Kerry Sparkes
Vice President
54
Candida Hayden
IR Contact
Board of Directors Tenure
Average tenure and age of the Franco-Nevada board of directors in years:
- The average tenure for the Franco-Nevada board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Pierre Lassonde
Chairman of the Board
$339K
70
David Harquail
CEO & Director
$5M
61
11.3 yrs
Randall Oliphant
Independent Director
$268K
58
11.3 yrs
David Peterson
Independent Director
$271K
73
11.3 yrs
Louis-Pierre Gignac
Independent Director
$255K
67
11.3 yrs
Derek Evans
Independent Director
$262K
61
10.6 yrs
Tom Albanese
Independent Director
$253K
61
5.6 yrs
Catharine E. Farrow
Independent Director
$244K
53
3.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 21. Dec 18 | Sell | David Harquail | Individual | 18. Dec 18 | 19. Dec 18 | -29,136 | CA$98.66 | CA$-2,867,887 | ||
| 18. Dec 18 | Sell | Jason O’Connell | Individual | 18. Dec 18 | 18. Dec 18 | -842 | CA$96.35 | CA$-81,130 | ||
| 18. Dec 18 | Sell | Kerry Sparkes | Individual | 18. Dec 18 | 18. Dec 18 | -329 | CA$97.50 | CA$-32,078 | ||
| 14. Dec 18 | Sell | Eaun Gray | Individual | 11. Dec 18 | 11. Dec 18 | -400 | CA$96.00 | CA$-38,400 | ||
| 21. Nov 18 | Sell | David Harquail | Individual | 19. Nov 18 | 19. Nov 18 | -30,000 | CA$89.18 | CA$-2,671,153 | ||
| 27. Sep 18 | Buy | Catharine E. Farrow | Individual | 24. Sep 18 | 24. Sep 18 | 300 | CA$82.23 | CA$24,669 | ||
Management checks
We assess Franco-Nevada's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Franco-Nevada has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
FNV News
Simply Wall St News
Is Franco-Nevada Corporation's (TSE:FNV) CEO Being Overpaid?
This analysis aims first to contrast CEO compensation with other large companies. … According to our data, Franco-Nevada Corporation has a market capitalization of CA$19b, and pays its CEO total annual compensation worth US$4.5m. … We looked at a group of companies with market capitalizations over CA$11b and the median CEO total compensation was CA$8.6m
Simply Wall St - – Full articleHow Much Are Franco-Nevada Corporation (TSE:FNV) Insiders Taking Off The Table?
So shareholders might well want to know whether insiders have been buying or selling shares in Franco-Nevada Corporation (TSE:FNV). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … All up, insiders sold more shares in Franco-Nevada than they bought, over the last year
Simply Wall St - – Full articleIs Franco-Nevada Corporation's (TSE:FNV) High P/E Ratio A Problem For Investors?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Price to Earnings Ratio = Share Price (in reporting currency) ÷ Earnings per Share (EPS) … P/E of 66.27 = $76.16 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $1.15
Simply Wall St - – Full articleHere's What Franco-Nevada Corporation's (TSE:FNV) ROCE Can Tell Us
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleA Holistic Look At Franco-Nevada Corporation (TSE:FNV)
Franco-Nevada Corporation (TSE:FNV) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of FNV, it
Simply Wall St - – Full articleIs Franco-Nevada Corporation's (TSE:FNV) Liquidity Good Enough?
Investors looking for stocks with high market liquidity and zero debt on the balance sheet should consider Franco-Nevada Corporation (TSE:FNV). … With a market valuation of CA$17b, FNV is a safe haven in times of market uncertainty due to its strong balance sheet. … These companies are resilient in times of low liquidity and are not as strongly impacted by interest rate hikes as companies with lots of debt.
Simply Wall St - – Full articleWith A 4.5% Return On Equity, Is Franco-Nevada Corporation (TSE:FNV) A Quality Stock?
Franco-Nevada has a ROE of 4.5%, based on the last twelve months. … One way to conceptualize this, is that for each CA$1 of shareholders' equity it has, the company made CA$0.045 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleNeed To Know: Franco-Nevada Corporation (TSE:FNV) Insiders Have Been Selling Shares
So shareholders might well want to know whether insiders have been buying or selling shares in Franco-Nevada Corporation (TSE:FNV). … That means that an insider was selling shares at below the current price (CA$91.18). … We generally consider it a negative if insiders have been selling on market, especially if they did so below the current price
Simply Wall St - – Full articleWhy Franco-Nevada Corporation's (TSE:FNV) High P/E Ratio Isn't Necessarily A Bad Thing
This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 54.66 = $65.2 (Note: this is the share price in the reporting currency, namely, USD ) ÷ $1.19
Simply Wall St - – Full articleShould Franco-Nevada Corporation (TSE:FNV) Be Part Of Your Dividend Portfolio?
Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Historically, Franco-Nevada Corporation (TSE:FNV) has paid a dividend to shareholders. … Let's take a look at Franco-Nevada in more detail.
Simply Wall St - – Full articleFNV Company Info
Description
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
Details
| Name: | Franco-Nevada Corporation |
| FNV | |
| Exchange: | TSX |
| Founded: | 2007 |
| CA$19,070,916,952 | |
| 187,079,821 | |
| Website: | http://www.franco-nevada.com |
| Address: |
Franco-Nevada Corporation 199 Bay Street, Suite 2000, Toronto, Ontario, M5L 1G9, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | FNV | Common Shares | The Toronto Stock Exchange | CA | CAD | 03. Dec 2007 | |
| NYSE | FNV | Common Shares | New York Stock Exchange | US | USD | 03. Dec 2007 | |
| DB | 3FO | Common Shares | Deutsche Boerse AG | DE | EUR | 03. Dec 2007 | |
| LSE | 0QYZ | Common Shares | London Stock Exchange | GB | CAD | 03. Dec 2007 | |
| BMV | FNV N | Common Shares | Bolsa Mexicana de Valores | MX | MXN | 03. Dec 2007 |
Number of employees
Current staff
Industry
| Gold | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/25 00:06 |
| End of day share price update: | 2019/03/22 00:00 |
| Last estimates confirmation: | 2019/03/23 |
| Last earnings filing: | 2019/03/19 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
