FNV Earnings Reports

Franco-Nevada reported record quarterly results for Q3 2025, with revenue up 77% year-over-year to $487.7 million. Net income reached $287.5 million and Adjusted EBITDA rose to $427.3 million. The company remained debt-free and saw 85% of revenue come from precious metals, primarily gold. The strong performance was supported by higher commodity prices, portfolio additions, and the sale of copper concentrate from Cobre Panama.

Franco-Nevada posted record Q2 2025 revenue of 369,400,000, driven by higher gold prices and contributions from newly acquired and producing precious metal assets. Net income reached 247,100,000, with adjusted EBITDA margin at 99% and adjusted net income margin at 64.6%. Operating cash flow also hit a record at 430,300,000.

Franco-Nevada achieved its strongest quarter ever in Q1 2025, with $368.4 million in revenue and 126,585 GEOs sold. Elevated gold prices, increased contributions from new precious metal assets, and robust energy asset performance supported this record performance. The company maintained a high-margin business model, debt-free balance sheet, and expanded its portfolio with key acquisitions.

Franco-Nevada reported Q4 2024 revenue of $321.0 million, representing a 6% increase from Q4 2023, driven by elevated gold prices. The company achieved net income of $175.4 million, a significant improvement from the prior year’s loss. Adjusted net income rose to $183.3 million, while Adjusted EBITDA reached $277.4 million. GEO sales declined 21% year-over-year, primarily due to the halt in production at Cobre Panama.

Franco-Nevada reported $275.7 million in revenue for Q3 2024, an 11% decrease compared to Q3 2023 but a 14% increase when excluding the impact of Cobre Panama. Net income was $152.7 million, or $0.79 per share, while Adjusted EBITDA reached $236.2 million. The company maintained a strong financial position with no debt and $2.3 billion in available capital.