Filing Flows › Franco Nevada (FNV) › Q1 2026 › vs Q1 2025
Franco Nevada (FNV) Q1 2026 vs Q1 2025 (year over year)
Franco Nevada's revenue rose $282M (+77%) from $368M in Q1 2025 to $651M in Q1 2026. Gross margin 80.9% against 71.0% (+9.9 pts).
Franco Nevada, Q1 2026: revenue $651M (+77% year over year), operating margin 88.8%, net earnings $469M, operating cash flow $520M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 80.9% | 71.0% | +9.9 pts |
| Operating margin | 88.8% | 68.8% | +20.0 pts |
| Net margin | 72.0% | 56.9% | +15.1 pts |
| Free cash flow margin | 79.9% | 77.9% | +2.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $651M | $368M | $282M | +77% |
| Gross profit | $526M | $262M | $265M | +101% |
| Cost of revenue | $124M | $107M | $17.5M | +16% |
| Other income, net | $17.1M | $16.1M | $1.0M | +6% |
| Operating profit | $578M | $254M | $324M | +128% |
| Pre-tax earnings | $595M | $270M | $325M | +121% |
| Net earnings | $469M | $210M | $259M | +123% |
| Income tax | $126M | $59.8M | $66.5M | +111% |
| Working capital & other | $51.8M | $79.1M | −$27.3M | -35% |
| Operating cash flow | $520M | $289M | $232M | +80% |
| Free cash flow (OCF − capex) | $520M | $287M | $233M | +81% |
| Capital expenditures | $200K | $2.0M | −$1.8M | -90% |
Questions
How much did Franco Nevada's revenue grow year over year in Q1 2026?
Franco Nevada's revenue rose $282M (+77%) from $368M in Q1 2025 to $651M in Q1 2026. Gross margin 80.9% against 71.0% (+9.9 pts).