Franco-Nevada Corporation (FNV) Income Statement
FNV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFNV revenue and net income
Where FNV's revenue goes
2025Each bar shows an amount and its share of revenue. FNV kept 61.0% of revenue as net income.
FNV profit margins
FNV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +63.7% | +11.5% | +12.3% | +15.2% |
| Gross profit | +77.4% | +16.5% | +16.8% | +25.9% |
| Operating income | +79.5% | +16.6% | +31.1% | +38.2% |
| Net income | +101.4% | +16.7% | +27.8% | +46.4% |
| EPS (diluted) | +71.5% | +15.4% | +15.6% | +25.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FNV quarterly EPS vs estimates
Franco-Nevada beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 11, 2026 (estimate $1.95).
FNV income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.82B | $1.11B | $1.22B | $1.32B | $1.30B | $1.02B | $844.1M | $653.2M | $675.0M | $610.2M |
| Cost of revenue | $475.5M | $354.3M | $452.4M | $463.1M | $477.9M | $399.8M | $408.0M | $365.9M | $415.0M | $379.6M |
| Gross profit | $1.35B | $759.3M | $766.6M | $852.6M | $822.1M | $620.4M | $436.1M | $287.3M | $260.0M | $230.6M |
| Research & development | — | — | — | — | — | — | — | — | $3.6M | $3.4M |
| Sales, general & admin | $46.4M | $34.6M | $27.9M | $32.6M | $30.8M | $28.8M | $28.8M | $22.6M | $24.9M | $24.1M |
| Total operating expenses | $46.4M | $34.6M | $27.9M | $32.6M | $30.8M | $283.9M | $25.9M | $98.5M | $24.6M | $75.2M |
| Operating income | $1.30B | $724.7M | $738.7M | $820.0M | $791.3M | $336.5M | $410.2M | $188.8M | $235.4M | $155.4M |
| Interest income | $28.2M | $60.6M | $42.7M | $12.6M | $500,000 | $3.7M | $2.2M | $1.1M | $4.5M | $12.0M |
| Interest expense | $3.2M | $2.5M | $3.0M | $3.1M | $3.6M | $3.7M | $10.8M | $4.4M | $3.5M | $3.6M |
| Income before taxes | $1.42B | $763.9M | −$364.2M | $833.7M | $857.8M | $339.5M | $405.9M | $189.1M | $236.0M | $167.9M |
| Income taxes | $303.9M | $211.8M | $102.2M | $133.1M | $124.1M | $13.3M | $61.8M | $50.1M | $41.3M | $45.7M |
| Net income | $1.11B | $552.1M | −$466.4M | $700.6M | $733.7M | $326.2M | $344.1M | $139.0M | $194.7M | $122.2M |
| EBITDA | $1.72B | $989.3M | −$91.0M | $1.12B | $1.16B | $580.9M | $676.7M | $438.3M | $512.4M | $445.3M |
| EPS (diluted) | $5.59 | $3.26 | $3.55 | $3.64 | $3.53 | $2.71 | $1.82 | $1.16 | $1.08 | $0.93 |
| Gross margin | 73.9% | 68.2% | 62.9% | 64.8% | 63.2% | 60.8% | 51.7% | 44.0% | 38.5% | 37.8% |
| Operating margin | 71.4% | 65.1% | 60.6% | 62.3% | 60.9% | 33.0% | 48.6% | 28.9% | 34.9% | 25.5% |
| Net margin | 61.0% | 49.6% | −38.3% | 53.2% | 56.4% | 32.0% | 40.8% | 21.3% | 28.8% | 20.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $580.9M | $650.7M | $597.3M | $487.7M | $369.4M | $368.4M | $321.0M | $275.7M | $260.1M | $256.8M | $303.3M | $309.5M |
| Cost of revenue | $129.9M | $124.4M | $136.9M | $134.2M | $97.5M | $106.9M | $94.4M | $86.1M | $82.0M | $91.8M | $114.0M | $117.0M |
| Gross profit | $451.0M | $526.3M | $460.4M | $353.5M | $271.9M | $261.5M | $226.6M | $189.6M | $178.1M | $165.0M | $189.3M | $192.5M |
| Sales, general & admin | $7.8M | $15.4M | $2.6M | $16.3M | $8.5M | $15.1M | $5.7M | $10.2M | $9.4M | $7.0M | $5.3M | $5.7M |
| Total operating expenses | $5.3M | $15.4M | $2.6M | $16.3M | $8.5M | $15.1M | $5.7M | $10.2M | $9.1M | $6.8M | $1.18B | $5.5M |
| Operating income | $445.7M | $510.9M | $457.8M | $337.2M | $263.4M | $246.4M | $220.9M | $179.4M | $169.0M | $158.2M | −$987.6M | $187.0M |
| Interest income | $6.8M | $5.5M | $2.5M | $8.0M | $6.6M | $11.1M | $13.5M | $14.9M | $16.2M | $17.2M | $16.3M | $15.5M |
| Interest expense | $682,224 | $788,918 | $812,297 | $800,000 | $813,181 | $697,884 | $680,245 | $705,630 | $599,876 | $597,319 | $822,110 | $691,111 |
| Income before taxes | $458.9M | $594.9M | $468.3M | $362.4M | $315.7M | $269.6M | $222.2M | $194.9M | $174.8M | $172.0M | −$959.8M | $200.0M |
| Income taxes | $104.9M | $126.3M | $100.6M | $74.9M | $68.6M | $59.8M | $46.8M | $42.2M | $95.3M | $27.5M | $22.7M | $24.9M |
| Net income | $354.0M | $468.6M | $367.7M | $287.5M | $247.1M | $209.8M | $175.4M | $152.7M | $79.5M | $144.5M | −$982.5M | $175.1M |
| EBITDA | $543.6M | $673.6M | $553.6M | $450.2M | $380.5M | $338.7M | $280.4M | $249.8M | $228.3M | $230.8M | −$892.9M | $268.8M |
| EPS (diluted) | $1.81 | $2.43 | $1.85 | $1.43 | $1.24 | $1.07 | $0.95 | $0.80 | $0.75 | $0.76 | $0.90 | $0.91 |
| Gross margin | 77.6% | 80.9% | 77.1% | 72.5% | 73.6% | 71.0% | 70.6% | 68.8% | 68.5% | 64.3% | 62.4% | 62.2% |
| Operating margin | 76.7% | 78.5% | 76.6% | 69.1% | 71.3% | 66.9% | 68.8% | 65.1% | 65.0% | 61.6% | −325.6% | 60.4% |
| Net margin | 60.9% | 72.0% | 61.6% | 59.0% | 66.9% | 56.9% | 54.6% | 55.4% | 30.6% | 56.3% | −323.9% | 56.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FNV's financial statements (latest annual report filed March 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FNV financial results
In fiscal year 2025 (ended December 31, 2025), Franco-Nevada reported revenue of $1.8 billion, up 63.7% from the year before. It had net income of $1.1 billion (up 101.4%), a net profit margin of 61.0%. Diluted earnings per share came to $5.59. Over five years revenue grew at an average rate of 12.3% a year.
See the FNV stock overview for the latest quote and news, or the FNV chart for price history and technical indicators.
FNV income statement FAQ
What is Franco-Nevada's annual revenue?
Franco-Nevada reported total revenue of $1.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 63.7% from $1.1 billion the previous year.
Is Franco-Nevada profitable?
Yes. Franco-Nevada reported net income of $1.1 billion in fiscal 2025, a net profit margin of 61.0%; its operating margin was 71.4%.
What is Franco-Nevada's gross margin?
Franco-Nevada's gross margin was 73.9% in fiscal 2025: for every $100 of revenue, Franco-Nevada kept $74 after the direct cost of its products and services.
How fast is Franco-Nevada growing?
Revenue grew 12.3% a year on average over the last five fiscal years, from $1.0 billion to $1.8 billion.
What are Franco-Nevada's earnings per share?
Franco-Nevada earned $5.59 per diluted share in fiscal 2025, compared with $3.26 a year earlier.
When will Franco-Nevada report its next earnings?
Franco-Nevada is expected to report results for the quarter ending September 30, 2026 on November 11, 2026 after the market closes.
When does Franco-Nevada's fiscal year end?
Franco-Nevada's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 19, 2026.