Filing Flows › Franco Nevada (FNV) › Q1 2025
Franco Nevada (FNV) Q1 2025 earnings results (first quarter 2025)
6-K filed May 9, 2025
Franco Nevada (FNV) reported revenue of $368M for the first quarter 2025 (Q1 2025), +43% from a year earlier. Operating margin was 68.8%, net earnings $210M (56.9% of revenue).
Franco Nevada, Q1 2025: revenue $368M (+44% year over year), operating margin 68.8%, net earnings $210M, operating cash flow $289M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $368M | — | +43% |
| Gross profit | $262M | — | +58% |
| Operating profit | $254M | — | +60% |
| Net earnings | $210M | — | +45% |
| Operating cash flow | $289M | — | +62% |
| Free cash flow | $287M | — | +61% |
What changed
Revenue was $368.4M in Q1 2025, up 43% year over year.
Gross margin was 71.0%, up 6.7 points from a year earlier. Operating profit was $253.5M, a 68.8% margin (up 7.2 points year over year). Of the extra revenue versus a year earlier, 85% reached operating profit, above the 62% margin then. Operating expenses grew 18% against revenue growth of 43%. Net earnings were $209.8M, up 45% year over year. The effective tax rate was 22.2%.
Operating cash flow was $288.9M (up 62% year over year), 138% of net earnings. Working capital and other items added $79.1M. Capital expenditures of $2.0M left free cash flow of $286.9M.
Questions
What was Franco Nevada's revenue in the first quarter 2025?
Franco Nevada (FNV) reported revenue of $368M for the first quarter 2025 (Q1 2025), +43% from a year earlier.
Was Franco Nevada profitable in the first quarter 2025?
Operating profit was $254M (68.8% of revenue) and net earnings $210M.
Source: Franco Nevada 6-K on SEC EDGAR.