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Franco Nevada (FNV) earnings and revenue breakdown
Latest: Q2 2025 · 6-K filed Aug 11, 2025 · Franco Nevada (FNV) Q2 2025 earnings results →
Q2 2025 Revenue up 42% year over year to $369M · 67¢ of every $1 of revenue kept as net profit · operating margin 82.8%
Franco Nevada made $369M in Q2 2025 (+42% Y/Y): Revenue $369M, Basic $1.3M. Operating margin 82.8%, net earnings $247M. See where every dollar goes — costs, profit and cash — as a Sankey from the 6-K filed Aug 11, 2025.
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What changed this quarter
Revenue was $369.4M in Q2 2025, up 42% year over year. Revenue was the largest line at 100% of revenue. Revenue added $109.3M year over year (up 42%), 100% of the total change.
Gross margin was 73.6%, up 5.1 points from a year earlier. Operating profit was $305.8M, a 82.8% margin (up 17.8 points year over year). Of the extra revenue versus a year earlier, 125% reached operating profit, above the 65% margin then. Net earnings were $247.1M, up 211% year over year. The effective tax rate was 21.7%.
Operating cash flow was $430.3M (up 121% year over year), 174% of net earnings. Non-cash charges added back $64.0M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $118.2M. Capital expenditures of $100K left free cash flow of $430.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2025 | 6-K | Aug 11, 2025 | $369M | +42% | 82.8% | $247M | $430M |
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🔄Rotation against the market and its industry (RRG)interactive
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Franco Nevada against its Gold and Silver Ores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +42% against the peers' median +27%. Operating margin: 82.8% against the peers' median 38.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FNV Franco Nevada | Q2 2025 | $369M | +42% | 82.8% |
| NEM Newmont | Q3 2026 | $6.4B | +15% | 49.7% |
| B Barrick Mining | Q2 2025 | $3.7B | +16% | 38.5% |
| CDE Coeur Mining | Q3 2026 | $984M | +77% | 17.7% |
| WPM Wheaton Precious Metals | Q3 2026 | $772M | — | 66.2% |
| AG First Majestic Silver | Q3 2026 | $394M | — | 38.6% |
| MUX McEwen | Q2 2026 | $59.2M | +27% | 13.0% |
| IAUX i-80 Gold | Q3 2026 | $32.7M | +2% | -132.4% |
| URG Ur-Energy | Q2 2026 | $14.4M | +38% | -128.3% |
Source: Franco Nevada 6-K on SEC EDGAR · CIK 1456346 · Gold and Silver Ores
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History
Every quarter: Q2 2025 results