Filing Flows › Franco Nevada (FNV) › Q2 2025
Franco Nevada (FNV) Q2 2025 earnings results (second quarter 2025)
6-K filed Aug 11, 2025
Franco Nevada (FNV) reported revenue of $369M for the second quarter 2025 (Q2 2025), +42% from a year earlier. Operating margin was 82.8%, net earnings $247M (66.9% of revenue).
Franco Nevada, Q2 2025: revenue $369M (+42% year over year), operating margin 82.8%, net earnings $247M, operating cash flow $430M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $369M | — | +42% |
| Gross profit | $272M | — | +53% |
| Operating profit | $306M | — | +81% |
| Net earnings | $247M | — | +211% |
| Operating cash flow | $430M | — | +121% |
| Free cash flow | $430M | — | — |
What changed
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.
Questions
What was Franco Nevada's revenue in the second quarter 2025?
Franco Nevada (FNV) reported revenue of $369M for the second quarter 2025 (Q2 2025), +42% from a year earlier.
Was Franco Nevada profitable in the second quarter 2025?
Operating profit was $306M (82.8% of revenue) and net earnings $247M.
Source: Franco Nevada 6-K on SEC EDGAR.