MarketKingdoms › Financial statements › FNVFranco-Nevada Corp (FNV) financial statements: income statement, balance sheet and cash flow
Franco-Nevada Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Franco-Nevada Corp reported revenue of $1.8B (+63.7% year on year) and net income of $1.4B (+85.4% year on year).
Income statement Franco-Nevada Corp income statement, fiscal years
Line item Dec 31, 2025 · FY Dec 31, 2024 · FY Dec 31, 2023 · FY Dec 31, 2022 · FY
Revenue from royalty, streams and working interests (Note 14) $1.8B $1.1B — — Interest revenue (Note 7) $14.2M $8.3M — — Total revenue $1.8B $1.1B $1.2B $1.3B Costs of sales (Note 15) $168.8M $129.0M $179.3M $176.9M Depletion and depreciation $306.7M $225.3M $273.1M $286.2M Total costs of sales $475.5M $354.3M $452.4M $463.1M Gross profit $1.3B $759.3M $766.6M $852.6M General and administrative expenses (Note 2 (q), 16) $35.3M $26.6M $24.5M $22.5M Share-based compensation expenses (Note 17) $16.9M $8.0M $4.4M $10.1M Impairment reversal (Note 10) ($4.8M) — — — Gain on sale of gold and silver bullion (Note 8) ($54.3M) — — — Total other operating (income) expenses ($6.9M) $32.7M $1.2B $31.9M Operating income $1.4B $726.6M ($428.0M) $820.7M Foreign exchange gain (loss) and other income (expenses) (Note 19) $36.7M ($20.7M) $14.4M $3.6M Income before finance items and income taxes $1.4B $705.9M ($413.6M) $824.3M Finance income $28.2M $60.6M $52.3M $12.6M Finance expenses ($3.1M) ($2.6M) ($2.9M) ($3.2M) Net income before income taxes $1.4B $763.9M ($364.2M) $833.7M Income tax expense (Note 21) $303.9M $211.8M $102.2M $133.1M Net income $1.1B $552.1M ($466.4M) $700.6M Currency translation adjustment $91.2M ($131.3M) $34.8M ($92.0M) Gain on changes in the fair value of equity investments at fair value through other comprehensive income ("FVTOCI"), net of income tax (Note 6) $696.3M $40.4M — — Other comprehensive income (loss), net of taxes $787.5M — $42.1M — Comprehensive income $1.9B $461.2M ($424.3M) $571.9M Basic earnings per share (in dollars per share) $5.77 $2.87 -$2.43 $3.66 Diluted earnings per share (in dollars per share) $5.76 $2.87 -$2.43 $3.65 Basic EPS - (in shares) $192700000.00 $192400000.00 $192000000.00 $191500000.00 Diluted EPS - (in shares) $193000000.00 $192600000.00 $192300000.00 $191900000.00
Franco-Nevada Corp income statement, quarters
Line item Jun 30, 2026 · YTD Jun 30, 2025 · YTD Jun 30, 2024 · YTD Jun 30, 2023 · YTD
Revenue from royalty, streams and working interests (Note 12) $1.2B $732.2M $513.2M — Total revenue $1.2B $737.8M $516.9M $606.2M Costs of sales (Note 13) $92.4M $72.0M $62.7M $85.3M Depletion and depreciation $161.9M $132.4M $111.1M $136.1M Total costs of sales $254.3M $204.4M $173.8M $221.4M Gross profit $977.3M $533.4M $343.1M $384.8M General and administrative expenses (Note 14) $17.0M $14.4M $14.1M $12.4M Share-based compensation (recovery) expenses (Note 15) $2.7M — — — Gain on buy-back of royalty and stream interests (Note 9) ($63.8M) — — — Loss (gain) on sale of gold and silver bullion (Note 7) ($2.1M) ($49.3M) — — Total other operating expenses (income) ($46.2M) ($25.9M) $15.9M $12.2M Operating income $1.0B $559.3M $327.2M $372.6M Foreign exchange gain and other income (Note 17) $19.5M $9.8M ($11.4M) $3.9M Income before finance items and income taxes $1.0B $569.1M $315.8M $376.5M Finance income $12.3M $17.7M $32.2M $20.5M Finance expenses ($1.5M) ($1.5M) ($1.2M) ($1.4M) Net income before income taxes $1.1B $585.3M $346.8M $395.6M Income tax expense (Note 19) $231.2M $128.4M $122.8M $54.6M Net income $822.6M $456.9M $224.0M $341.0M Currency translation adjustment ($115.1M) $98.4M ($51.5M) $29.9M (Loss) gain on changes in the fair value of equity investments at fair value through other comprehensive income ("FVTOCI"), net of income tax (Note 5) $56.1M $180.0M $17.2M $1.0M Other comprehensive (loss) income, net of taxes ($59.0M) $278.4M ($34.3M) $30.9M Comprehensive income $763.6M $735.3M $189.7M $371.9M Basic earnings per share (in dollars per share) $4.27 $2.37 $1.17 $1.78 Diluted earnings per share (in dollars per share) $4.26 $2.37 $1.16 $1.77 Basic (in shares) 192.8M 192.6M 192.2M 191.9M Diluted (in shares) 193.2M 192.9M 192.4M 192.2M
Balance sheet Franco-Nevada Corp balance sheet, fiscal years
Line item Dec 31, 2025 · FY Dec 31, 2024 · FY Dec 31, 2023 · FY Dec 31, 2022 · FY
Cash and cash equivalents (Note 5) $670.9M $1.5B $1.4B $1.2B Receivables $241.9M $151.8M $111.0M $135.7M Gold and silver bullion and stream inventory (Note 8) $40.1M $96.8M — — Other current assets (Note 9) $68.5M — — — Current assets $1.0B $1.7B $1.6B $1.4B Royalty, stream and working interests, net (Note 10) $6.0B $4.1B $4.0B $4.9B Investments (Note 6) $1.1B $325.5M $254.5M $227.2M Deferred income tax assets (Note 21) $23.2M $30.8M $37.0M $39.9M Other assets (Note 11) $12.4M $54.4M $35.4M $49.1M Total assets $8.2B $6.3B $6.0B $6.6B Accounts payable and accrued liabilities (Note 12) $44.9M $28.7M $30.9M $43.1M Income tax liabilities (Note 21) $78.1M $38.8M $8.3M $7.1M Current liabilities $123.0M $67.5M $39.2M $50.2M Deferred income tax liabilities (Note 21) $440.7M $238.0M $180.1M $153.0M Income tax liabilities (Note 21) $33.8M $19.8M — — Other liabilities $8.6M $8.5M $5.7M $6.0M Total liabilities $606.1M $333.8M $225.0M $209.2M Share capital (Note 22) $5.8B $5.8B $5.7B $5.7B Contributed surplus $21.6M $23.0M $20.6M $15.6M Retained earnings $1.4B $486.5M $212.3M $940.4M Accumulated other comprehensive income (loss) $430.5M ($282.0M) ($192.0M) ($233.7M) Total shareholders' equity $7.6B $6.0B $5.8B $6.4B Total liabilities and shareholders' equity $8.2B $6.3B $6.0B $6.6B
Franco-Nevada Corp balance sheet, quarters
Line item Jun 30, 2026 Jun 30, 2025 Jun 30, 2024 Jun 30, 2023
Cash and cash equivalents (Note 4) $1.0B $160.3M $1.4B $1.3B Receivables $237.5M $146.7M $120.9M $144.4M Gold and silver bullion and stream inventory (Note 7) $112.6M $7.0M — — Other current assets (Note 8) $23.6M $25.5M — — Current assets $1.4B $357.3M $1.7B $1.5B Royalty, stream and working interests, net (Note 9) $6.3B $5.9B $4.0B $5.1B Investments (Note 5) $1.2B $597.8M $278.0M $232.3M Loan receivable (Note 6) $17.6M $82.5M $75.7M — Deferred income tax assets $18.8M $25.7M $35.4M $35.2M Other assets (Note 10) $20.5M $57.5M $52.7M $49.8M Total assets $8.9B $7.0B $6.1B $6.9B Accounts payable and accrued liabilities $38.6M $33.6M $30.1M $52.2M Income tax liabilities $109.4M $50.4M $27.2M $4.1M Current liabilities $148.0M $84.0M $57.3M $56.3M Deferred income tax liabilities $503.8M $311.6M $234.1M $165.4M Income tax liabilities $21.6M $13.0M — — Other liabilities $8.1M $10.0M $4.6M $6.0M Total liabilities $681.5M $418.6M $296.0M $227.7M Share capital (Note 20) $5.8B $5.8B $5.8B $5.7B Contributed surplus $17.6M $19.3M $20.3M $18.2M Retained earnings $2.0B $806.6M $294.0M $1.2B Accumulated other comprehensive income $359.8M ($13.1M) ($223.0M) ($203.2M) Total shareholders' equity $8.2B $6.6B $5.8B $6.7B Total liabilities and shareholders' equity $8.9B $7.0B $6.1B $6.9B
Cash flow statement Franco-Nevada Corp cash flow statement, fiscal years
Line item Dec 31, 2025 · FY Dec 31, 2024 · FY Dec 31, 2023 · FY Dec 31, 2022 · FY
Net income $1.1B $552.1M ($466.4M) $700.6M Depletion and depreciation $306.7M $225.3M $273.1M $286.2M Share-based compensation expenses $6.3M $5.4M $5.5M $8.2M Impairment reversal ($4.8M) — $1.2B — Unrealized foreign exchange (gain) loss ($10.4M) $12.9M ($2.8M) $3.3M Deferred income tax expense $108.1M $66.3M $26.6M $37.4M Gain on sale of gold and silver bullion (Note 8) ($54.3M) — — — (Gain) loss on derivative financial instruments ($32.7M) — — — Other non-cash items ($10.3M) ($6.1M) ($3.7M) ($3.5M) Gold and silver bullion from royalties received in-kind ($117.0M) ($72.7M) — — Proceeds from sale of gold and silver bullion $221.0M — — — Operating cash flows before changes in non-cash working capital $1.5B $808.1M $985.1M $1.0B Increase in receivables ($90.1M) ($40.8M) $24.7M ($15.9M) (Increase) decrease in other current assets ($4.7M) — — — Increase in accounts payable and accrued liabilities $63.8M — — — Net cash provided by operating activities $1.5B $829.5M $991.2M $999.5M Acquisition of royalty, stream and working interests ($2.2B) ($406.0M) ($520.0M) ($139.6M) Proceeds from repayment of loan receivable $114.1M $28.9M — $42.7M Proceeds from sale of investments $109.9M $23.3M $2.0M $1.8M Acquisition of investments ($60.3M) ($74.5M) ($9.8M) ($48.5M) Acquisition of energy well equipment ($2.7M) ($1.8M) ($1.6M) ($1.9M) Acquisition of property and equipment ($2.4M) ($200.0K) — — Net cash used in investing activities ($2.0B) ($537.3M) ($541.1M) ($145.5M) Payment of dividends ($275.1M) ($242.4M) ($233.0M) ($197.6M) Proceeds from draw down of Corporate Revolver $175.0M — — — Repayment of Corporate Revolver ($175.0M) — — — Proceeds from exercise of stock options $7.7M $2.8M $2.9M $9.5M Net cash used in financing activities ($267.4M) ($240.4M) ($230.1M) ($189.0M) Effect of exchange rate changes on cash and cash equivalents $26.3M ($22.4M) $5.4M ($7.8M) Net change in cash and cash equivalents ($780.4M) $29.4M $225.4M $657.2M Cash and cash equivalents at beginning of year $1.5B $1.4B $1.2B $539.3M Cash and cash equivalents at end of year $670.9M $1.5B $1.4B $1.2B Income taxes paid $162.0M $73.8M $88.1M $95.1M Dividend income received $8.7M $12.6M $13.2M $19.7M Interest and standby fees paid $4.0M $2.1M $2.3M $2.4M
Franco-Nevada Corp cash flow statement, quarters
Line item Jun 30, 2026 · YTD Jun 30, 2025 · YTD Jun 30, 2024 · YTD Jun 30, 2023 · YTD
Net income $822.6M $456.9M $224.0M $341.0M Depletion and depreciation $161.9M $132.4M $111.1M $136.1M Share-based compensation expenses $2.1M $3.1M $2.9M $3.2M Gain on buy-back of royalty and stream interests ($63.8M) — — — Unrealized foreign exchange gain ($3.8M) ($11.2M) $7.8M ($3.5M) Deferred income tax expense $69.8M $46.3M $56.3M $15.1M Loss (gain) on sale of gold and silver bullion (Note 7) ($2.1M) ($49.3M) — — (Gain) loss on derivative financial instruments ($15.1M) — — — Other non-cash items ($100.0K) ($5.6M) ($300.0K) ($2.0M) Gold and silver bullion from royalties received in-kind ($97.7M) ($30.1M) — — Proceeds from sale of gold and silver bullion $74.9M $177.3M — — Receipt of deposits and interest from Canada Revenue Agency $49.5M — — — Increase in other assets ($8.2M) — ($17.4M) — Increase (decrease) in non-current income tax liabilities ($12.2M) — — — Operating cash flows before changes in non-cash working capital $977.8M $715.7M $364.6M $479.6M Decrease in receivables $4.4M $5.1M ($9.9M) ($8.7M) Increase in other current assets ($3.9M) ($11.1M) — — (Decrease) Increase in accounts payable and accrued liabilities ($6.1M) $9.5M — — (Decrease) increase in current income tax liabilities $30.7M — — — Net cash provided by operating activities $1.0B $719.2M $372.9M $471.7M Acquisition of royalty, stream and working interests ($529.7M) ($1.9B) ($163.1M) ($270.8M) Proceeds from buy-back of royalty interest $97.5M — — — Acquisition of investments ($55.1M) ($55.3M) ($11.0M) ($500.0K) Loan advanced to Life of Mine Investments Inc. ($17.8M) — ($83.5M) — Proceeds from sale of investments $16.9M $25.5M $1.1M $1.9M Acquisition of gold bullion from buy-back of stream interest ($10.2M) — — — Acquisition of energy well equipment ($600.0K) ($1.6M) ($700.0K) ($800.0K) Acquisition of property and equipment ($300.0K) ($2.1M) ($100.0K) — Net cash used in investing activities ($499.3M) ($1.9B) ($227.2M) ($263.2M) Payment of dividends ($161.1M) ($137.2M) ($119.2M) ($116.4M) Capitalized debt issue costs ($1.5M) — ($800.0K) — Proceeds from exercise of stock options $600.0K $4.3M $2.7M $2.9M Net cash used in financing activities ($162.0M) ($132.9M) ($117.3M) ($113.5M) Effect of exchange rate changes on cash and cash equivalents $1.7M $11.8M ($11.3M) $3.6M Net change in cash and cash equivalents $343.3M ($1.3B) $17.1M $98.6M Cash and cash equivalents at beginning of period $670.9M $1.5B $1.4B $1.2B Cash and cash equivalents at end of period $1.0B $160.3M $1.4B $1.3B Income taxes paid $147.4M $93.2M $42.5M $50.9M Dividend income received $3.1M $5.5M $4.2M $5.6M Interest and standby fees paid $1.4M $1.4M $1.0M $1.2M
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Figures as reported in SEC filings. General information, not investment advice.