Filing Flows › Franco Nevada (FNV) › Q2 2026 › vs Q1 2026
Franco Nevada (FNV) Q2 2026 vs Q1 2026 (quarter over quarter)
Franco Nevada's revenue fell $69.8M (-11%) from $651M in Q1 2026 to $581M in Q2 2026. Gross margin 77.6% against 80.9% (-3.2 pts).
Franco Nevada, Q2 2026: revenue $581M (+57% year over year), operating margin 76.7%, net earnings $354M, operating cash flow $482M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 77.6% | 80.9% | -3.2 pts |
| Operating margin | 76.7% | 88.8% | -12.1 pts |
| Net margin | 60.9% | 72.0% | -11.1 pts |
| Free cash flow margin | 83.0% | 79.9% | +3.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $581M | $651M | −$69.8M | -11% |
| Gross profit | $451M | $526M | −$75.3M | -14% |
| Cost of revenue | $130M | $124M | $5.5M | +4% |
| Other income, net | $13.2M | $17.1M | −$3.9M | -23% |
| Operating profit | $446M | $578M | −$132M | -23% |
| Operating expenses | $5.3M | $0 | $5.3M | — |
| Pre-tax earnings | $459M | $595M | −$136M | -23% |
| Net earnings | $354M | $469M | −$115M | -24% |
| Income tax | $105M | $126M | −$21.4M | -17% |
| Working capital & other | $128M | $51.8M | $76.7M | +148% |
| Operating cash flow | $482M | $520M | −$37.9M | -7% |
| Free cash flow (OCF − capex) | $482M | $520M | −$37.8M | -7% |
| Capital expenditures | $100K | $200K | −$100K | -50% |
Questions
How much did Franco Nevada's revenue grow quarter over quarter in Q2 2026?
Franco Nevada's revenue fell $69.8M (-11%) from $651M in Q1 2026 to $581M in Q2 2026. Gross margin 77.6% against 80.9% (-3.2 pts).