Announcement • Apr 22
Franco-Nevada Corporation to Report Q1, 2026 Results on May 12, 2026 Franco-Nevada Corporation announced that they will report Q1, 2026 results at 5:00 PM, US Eastern Standard Time on May 12, 2026 Recent Insider Transactions • Mar 30
President recently sold US$1.5m worth of stock On the 25th of March, Paul Brink sold around 7k shares on-market at roughly US$234 per share. This transaction amounted to 2.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Paul's only on-market trade for the last 12 months. Reported Earnings • Mar 11
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$5.77 (up from US$2.87 in FY 2024). Revenue: US$1.82b (up 65% from FY 2024). Net income: US$1.11b (up 101% from FY 2024). Profit margin: 61% (up from 50% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 8.5%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 11
Franco-Nevada Corporation Provides Earnings Guidance for the Full Year of 2026 Franco-Nevada Corporation provided earnings guidance for the full year of 2026 . For the year, the company expects Precious Metal GEO sales of 360,000 GEOs to 400,000 GEOs. Total GEO sales of 510,000 to 570,000 GEOs. 2026 diversified revenue to be in range of $245 Million to $285 million. Upcoming Dividend • Mar 05
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 12 March 2026. Payment date: 26 March 2026. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (1.4%). Announcement • Feb 17
Franco-Nevada Corporation, Annual General Meeting, May 12, 2026 Franco-Nevada Corporation, Annual General Meeting, May 12, 2026. Location: ontario, toronto Canada Buy Or Sell Opportunity • Feb 17
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to US$252. The fair value is estimated to be US$209, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Price Target Changed • Feb 13
Price target increased by 7.4% to US$276 Up from US$257, the current price target is an average from 10 analysts. New target price is 9.6% above last closing price of US$252. Stock is up 82% over the past year. The company is forecast to post earnings per share of US$5.36 for next year compared to US$2.87 last year. Price Target Changed • Jan 30
Price target increased by 7.8% to US$262 Up from US$243, the current price target is an average from 9 analysts. New target price is 12% above last closing price of US$234. Stock is up 72% over the past year. The company is forecast to post earnings per share of US$5.35 for next year compared to US$2.87 last year. Announcement • Jan 29
Franco-Nevada Corporation to Report Fiscal Year 2025 Results on Mar 10, 2026 Franco-Nevada Corporation announced that they will report fiscal year 2025 results After-Market on Mar 10, 2026 Declared Dividend • Jan 28
Third quarter dividend increased to US$0.44 Dividend of US$0.44 is 16% higher than last year. Ex-date: 12th March 2026 Payment date: 26th March 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.7%. Upcoming Dividend • Nov 27
Upcoming dividend of US$0.38 per share Eligible shareholders must have bought the stock before 04 December 2025. Payment date: 18 December 2025. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (1.7%). Reported Earnings • Nov 04
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$1.49 (up from US$0.79 in 3Q 2024). Revenue: US$487.7m (up 79% from 3Q 2024). Net income: US$287.5m (up 88% from 3Q 2024). Profit margin: 59% (up from 56% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Oct 28
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to US$187. The fair value is estimated to be US$154, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Price Target Changed • Oct 16
Price target increased by 7.7% to US$219 Up from US$203, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of US$215. Stock is up 69% over the past year. The company is forecast to post earnings per share of US$5.05 for next year compared to US$2.87 last year. Announcement • Oct 07
Franco-Nevada Corporation to Report Q3, 2025 Results on Nov 03, 2025 Franco-Nevada Corporation announced that they will report Q3, 2025 results After-Market on Nov 03, 2025 Buy Or Sell Opportunity • Sep 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to US$218. The fair value is estimated to be US$180, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 15% per annum. Earnings are also forecast to grow by 16% per annum over the same time period. Recent Insider Transactions • Sep 19
Non-Executive Chair recently sold US$3.0m worth of stock On the 17th of September, David Harquail sold around 15k shares on-market at roughly US$202 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by US$4.2m. Upcoming Dividend • Sep 04
Upcoming dividend of US$0.38 per share Eligible shareholders must have bought the stock before 11 September 2025. Payment date: 25 September 2025. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.7%). Buy Or Sell Opportunity • Aug 22
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to US$185. The fair value is estimated to be US$154, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 47% in 2 years. Earnings are forecast to grow by 46% in the next 2 years. Declared Dividend • Aug 13
Second quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 11th September 2025 Payment date: 25th September 2025 Dividend yield will be 0.8%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Aug 12
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 12
Second quarter 2025 earnings: EPS exceeds analyst expectations Second quarter 2025 results: EPS: US$1.28 (up from US$0.41 in 2Q 2024). Revenue: US$365.9m (up 42% from 2Q 2024). Net income: US$247.1m (up 211% from 2Q 2024). Profit margin: 68% (up from 31% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 15%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Aug 12
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on September 25, 2025 Franco-Nevada Corporation announced that its Board of Directors has declared a quarterly dividend of USD 0.38 per share. The dividend will be paid on September 25, 2025, to shareholders of record on September 11, 2025 (the "Record Date"). Announcement • Jul 11
Franco-Nevada Corporation to Report Q2, 2025 Results on Aug 11, 2025 Franco-Nevada Corporation announced that they will report Q2, 2025 results Pre-Market on Aug 11, 2025 New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Upcoming Dividend • Jun 05
Upcoming dividend of US$0.38 per share Eligible shareholders must have bought the stock before 12 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 46% but the company is paying out more than the cash it is generating. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.8%). New Risk • May 23
New major risk - Revenue and earnings growth Earnings have declined by 17% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$1.5m sold). Buy Or Sell Opportunity • May 23
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to US$168. The fair value is estimated to be US$137, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 27% in a year. Earnings are forecast to grow by 35% in the next year. Declared Dividend • May 12
First quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 12th June 2025 Payment date: 26th June 2025 Dividend yield will be 0.9%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (165% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$1.09 (up from US$0.75 in 1Q 2024). Revenue: US$368.4m (up 44% from 1Q 2024). Net income: US$209.8m (up 45% from 1Q 2024). Profit margin: 57% (in line with 1Q 2024). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 9.7%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Price Target Changed • Apr 21
Price target increased by 7.5% to US$178 Up from US$166, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of US$171. Stock is up 45% over the past year. The company is forecast to post earnings per share of US$4.30 for next year compared to US$2.87 last year. Announcement • Apr 15
Franco-Nevada Corporation to Report Q1, 2025 Results on May 08, 2025 Franco-Nevada Corporation announced that they will report Q1, 2025 results at 5:30 PM, US Eastern Standard Time on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$169, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 4.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$142 per share. Recent Insider Transactions • Mar 16
Non-Executive Chair recently sold US$1.2m worth of stock On the 12th of March, David Harquail sold around 8k shares on-market at roughly US$148 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was David's only on-market trade for the last 12 months. Reported Earnings • Mar 10
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.87 (up from US$2.43 loss in FY 2023). Revenue: US$1.11b (down 8.5% from FY 2023). Net income: US$552.1m (up US$1.02b from FY 2023). Profit margin: 50% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.8%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Announcement • Mar 10
Franco-Nevada Corporation Provides Revenue Guidance for the Full Year of 2025 Franco-Nevada Corporation provided revenue guidance for the full year of 2025. For the year, the company expects Precious Metal GEO sales of 385,000 to 425,000 GEOs. Total GEO sales of 465,000 to 525,000 GEOs. 2025 revenue to be more than 25% higher than in 2024. Upcoming Dividend • Mar 06
Upcoming dividend of US$0.38 per share Eligible shareholders must have bought the stock before 13 March 2025. Payment date: 27 March 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (2.2%). Announcement • Feb 11
Franco-Nevada Corporation, Annual General Meeting, May 08, 2025 Franco-Nevada Corporation, Annual General Meeting, May 08, 2025. Location: ontario, toronto Canada Declared Dividend • Feb 02
Third quarter dividend of US$0.38 announced Shareholders will receive a dividend of US$0.38. Ex-date: 13th March 2025 Payment date: 27th March 2025 Dividend yield will be 1.1%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (70% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Jan 30
Franco-Nevada Corporation to Report Fiscal Year 2024 Results on Mar 10, 2025 Franco-Nevada Corporation announced that they will report fiscal year 2024 results Pre-Market on Mar 10, 2025 Announcement • Jan 08
Franco-Nevada Appoints Daniel Malchuk as Director Franco-Nevada announced that Daniel Malchuk has joined its board of directors, effective January 8, 2024. Mr. Malchuk brings over 30 years of strategic, operational and financial experience in the natural resource industry to the board. He currently serves as a director of SSR Mining Inc. and also serves as Senior Advisor with Appian Capital Advisory LLP and chairman of Jetti Resources LLC. Previously, Mr. Malchuk held various leadership positions with BHP Group Ltd. until his retirement in 2020 including President Operations, Minerals Americas, President of Copper, President of Aluminum, Manganese, and Nickel, President, Minerals Exploration and Vice President, Strategy and Development. Mr. Malchuk holds a Civil Industrial Engineer degree from Universidad de Chile and an MBA from University of California at Los Angeles (UCLA) Anderson School of Management. Buy Or Sell Opportunity • Jan 08
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to US$127. The fair value is estimated to be US$103, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Dec 09
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at US$121. The fair value is estimated to be US$153, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Nov 29
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 05 December 2024. Payment date: 19 December 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (1.9%). Declared Dividend • Nov 10
Third quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 5th December 2024 Payment date: 19th December 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (70% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Nov 07
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.79 (down from US$0.91 in 3Q 2023). Revenue: US$275.7m (down 11% from 3Q 2023). Net income: US$152.7m (down 13% from 3Q 2023). Profit margin: 55% (down from 57% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 5.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Oct 18
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 6.1% to US$132. The fair value is estimated to be US$107, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.4% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Sep 05
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 12 September 2024. Payment date: 26 September 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.9%). Declared Dividend • Aug 16
Second quarter dividend of US$0.36 announced Shareholders will receive a dividend of US$0.36. Ex-date: 12th September 2024 Payment date: 26th September 2024 Dividend yield will be 1.2%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 14
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.41 (down from US$0.96 in 2Q 2023). Revenue: US$260.1m (down 21% from 2Q 2023). Net income: US$79.5m (down 57% from 2Q 2023). Profit margin: 31% (down from 56% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 47%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Jul 17
Franco-Nevada Corporation to Report Q2, 2024 Results on Aug 13, 2024 Franco-Nevada Corporation announced that they will report Q2, 2024 results After-Market on Aug 13, 2024 Upcoming Dividend • Jun 06
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 13 June 2024. Payment date: 27 June 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.2%). Board Change • May 05
High number of new directors Independent Director Hugo Dryland was the last director to join the board, commencing their role in the last week. Reported Earnings • May 02
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: US$0.75 (down from US$0.82 in 1Q 2023). Revenue: US$256.8m (down 6.9% from 1Q 2023). Net income: US$144.5m (down 7.7% from 1Q 2023). Profit margin: 56% (in line with 1Q 2023). Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 19
Franco-Nevada Corporation to Report Q1, 2024 Results on May 01, 2024 Franco-Nevada Corporation announced that they will report Q1, 2024 results After-Market on May 01, 2024 Reported Earnings • Mar 06
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$2.43 loss per share (down from US$3.66 profit in FY 2022). Revenue: US$1.22b (down 7.2% from FY 2022). Net loss: US$466.4m (down 167% from profit in FY 2022). Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to stay flat during the next 3 years compared to a 4.0% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 06
Upcoming dividend of US$0.36 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 28 March 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (2.5%). Buy Or Sell Opportunity • Mar 01
Now 22% overvalued Over the last 90 days, the stock has fallen 5.5% to US$107. The fair value is estimated to be US$87.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.6% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 2.4% in 2 years. Earnings are forecast to decline by 4.2% in the next 2 years. Announcement • Feb 11
Franco-Nevada Corporation, Annual General Meeting, May 01, 2024 Franco-Nevada Corporation, Annual General Meeting, May 01, 2024. New Risk • Feb 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Declared Dividend • Feb 02
Third quarter dividend increased to US$0.36 Dividend of US$0.36 is 5.9% higher than last year. Ex-date: 13th March 2024 Payment date: 28th March 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Announcement • Feb 01
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on March 28, 2024 Franco-Nevada Corporation announced that its Board of Directors has raised its quarterly dividend and declared a quarterly dividend of USD 0.36 per share payable on March 28, 2024 to shareholders of record on March 14, 2024 (the “Record Date”). The increased dividend will be effective for the full 2024 fiscal year. This is a 5.88% increase from the previous USD 0.34 per share quarterly dividend and marks the 17th consecutive annual increase for Franco-Nevada shareholders. Announcement • Jan 31
Franco-Nevada Corporation to Report Fiscal Year 2023 Results on Mar 05, 2024 Franco-Nevada Corporation announced that they will report fiscal year 2023 results After-Market on Mar 05, 2024 Upcoming Dividend • Nov 29
Upcoming dividend of US$0.34 per share at 1.2% yield Eligible shareholders must have bought the stock before 06 December 2023. Payment date: 21 December 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of American dividend payers (5.0%). Lower than average of industry peers (2.9%). Announcement • Nov 10
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on December 21, 2023 Franco-Nevada announced that its Board of Directors has declared a quarterly dividend of USD 0.34 per share. The dividend will be paid on December 21, 2023, to shareholders of record on December 7, 2023. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: US$0.91 (up from US$0.82 in 3Q 2022). Revenue: US$309.5m (up 1.9% from 3Q 2022). Net income: US$175.1m (up 12% from 3Q 2022). Profit margin: 57% (up from 52% in 3Q 2022). The increase in margin was primarily driven by lower expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 2.2%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Oct 11
Franco-Nevada Corporation to Report Q3, 2023 Results on Nov 08, 2023 Franco-Nevada Corporation announced that they will report Q3, 2023 results After-Market on Nov 08, 2023 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.34 per share at 1.0% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.6%). Announcement • Aug 10
Franco-Nevada Corporation Declares Quarterly Dividend, Payable on September 28, 2023 Franco-Nevada Corporation announced that its Board of Directors has declared a quarterly dividend of $0.34 per share. The dividend will be paid on September 28, 2023 to shareholders of record on September 14, 2023. Reported Earnings • Aug 09
Second quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2023 results: EPS: US$0.96 (down from US$1.03 in 2Q 2022). Revenue: US$329.9m (down 6.3% from 2Q 2022). Net income: US$184.5m (down 6.1% from 2Q 2022). Profit margin: 56% (in line with 2Q 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 08
Franco-Nevada Corporation to Report Q2, 2023 Results on Aug 08, 2023 Franco-Nevada Corporation announced that they will report Q2, 2023 results After-Market on Aug 08, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.34 per share at 0.9% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (2.8%). Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Honorary Director David Peterson was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Honorary Director David Peterson was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 03
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: US$0.82 (down from US$0.95 in 1Q 2022). Revenue: US$276.3m (down 18% from 1Q 2022). Net income: US$156.5m (down 14% from 1Q 2022). Profit margin: 57% (up from 54% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 9.0%. Earnings per share (EPS) also missed analyst estimates by 8.5%. Revenue is forecast to stay flat during the next 3 years compared to a 1.3% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 24
Non-Executive Chair recently sold US$391k worth of stock On the 20th of March, David Harquail sold around 3k shares on-market at roughly US$145 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by US$6.5m. Reported Earnings • Mar 16
Full year 2022 earnings: Revenues and EPS in line with analyst expectations Full year 2022 results: EPS: US$3.66 (down from US$3.84 in FY 2021). Revenue: US$1.32b (up 1.4% from FY 2021). Net income: US$700.6m (down 4.5% from FY 2021). Profit margin: 53% (down from 56% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth.