Franco-Nevada Corporation

FNV.TOTSXBasic Materials● Active

$304.64

$-23.62(-7.20%)

Market Cap$58.8B

P/E Ratio—

52W High$388.22

52W Low$210.19

Avg Volume365K

Open$321.64

Beta0.89

Free Cash Flow Financials Revenue

Franco-Nevada Corporation (FNV.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FNV.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

FNV.TO · FCF · TTM · margin & CAGR

Free cash flow was −$715.3M for FY2025 (fiscal year ending 2025-12-31), down 269.7% year-over-year The FCF margin was -38.6%.

FY2025 Free Cash Flow−$715.3M▼ -269.7% YoY

Trailing 12M (TTM)−$371.8Mtrailing 4 quarters sum

FCF Margin-38.6%−$715.3M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FNV.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.52B(2.24B)−$715.3M▼ 269.7%-38.6%

FY2024$829.5M(408M)$421.5M▼ 10.2%37.9%

FY2023$991.2M(522M)$469.6M▼ 45.3%38.5%

FY2022$999.5M(142M)$858.0M▲ +340.2%65.2%

FY2021$955.4M(761M)$194.9M▼ 60.3%15.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FNV.TO · P/FCF · FCF yield · FCF per share

Franco-Nevada Corporation (FNV.TO) reported negative free cash flow of −$0.72B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FNV.TO · cash flow statement · operating / investing / financing

For FY2025, Franco-Nevada Corporation generated $1.52B in operating cash flow and spent 2.24B in capital expenditures, yielding −$715.3M in free cash flow.

Operating Activities

+$1.52B

Cash from core business operations

2025-12-31

Investing Activities

−$2.07B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$272.1M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.52B) − |CapEx| (2.24B) = FCF (−$715.3M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Basic Materials)

FNV.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Franco-Nevada CorporationYOU

FNV.TO

−$715.3M-269.7%-38.6%

Loss

Southern Copper Corporation

Basic Materials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Franco-Nevada Corporation (FNV.TO) reported free cash flow of −$715.3M for FY2025 (fiscal year ending 2025-12-31), down 269.7% year-over-year. The FCF margin was -38.6%.

Based on available data, Franco-Nevada Corporation has maintained positive free cash flow for at least 8 fiscal year(s). FCF peaked at $858.0M in FY2022.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FNV.TO free cash flow · 8 questions

Franco-Nevada Corporation free cash flow was −$715.3M for FY2025, down 269.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$371.8M.

FNV.TO free cash flowFNV.TO FCFFNV.TO FCF 2025FNV.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Franco-Nevada Corporation · Franco-Nevada Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026