Franco-Nevada (FNV) valuation
Franco-Nevada P/E ratio history
Franco-Nevada trades at 29.4 times its earnings over the last twelve months and 26.7 times the earnings analysts expect over the next twelve. At its last 9 fiscal year ends its P/E ranged from 36.0 (year to Dec 2025) to 92.3 (year to Dec 2018), with a median of 56.5.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $207.28 | $5.76 | 36.0 | 30.6 |
| Dec 31, 2024 | $117.59 | $2.86 | 41.1 | 30.9 |
| Dec 31, 2023 | $110.81 | -$2.43 | n/m | 31.4 |
| Dec 31, 2022 | $136.48 | $3.65 | 37.4 | 37.2 |
| Dec 31, 2021 | $138.29 | $3.84 | 36.0 | 122.1 |
| Dec 31, 2020 | $125.33 | $1.71 | 73.3 | — |
| Dec 31, 2019 | $103.30 | $1.83 | 56.5 | — |
| Dec 31, 2018 | $70.17 | $0.76 | 92.3 | — |
| Dec 31, 2017 | $79.95 | $1.05 | 76.1 | — |
| Dec 31, 2016 | $59.76 | $0.69 | 86.6 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Franco-Nevada valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Franco-NevadaFNV | $43.4B | 29.4 | 26.7 | 18.7 |
| Wheaton Precious MetalsWPM | $52.9B | 25.9 | 24.6 | 16.7 |
| NewmontNEM | $112B | 12.4 | 10.9 | 4.2 |
| Hecla MiningHL | $9.07B | 27.6 | 16.3 | 5.7 |
| GoldGOLD | $1.08B | 12.6 | 10.2 | 0.0 |
| McEwen MiningMUX | $838M | 12.0 | 6.1 | 3.4 |
| Zijin Mining GroupZIJMY | — | — | — | — |
| Peer median | 12.6 | 10.9 | 4.2 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: FNV financials · FNV returns
No forecast, no recommendation. This page describes Franco-Nevada from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.