Filing Flows › Franco Nevada (FNV) › Q4 2025
Franco Nevada (FNV) Q4 2025 earnings results (fourth quarter 2025)
6-K filed Mar 10, 2026
Franco Nevada (FNV) reported revenue of $597M for the fourth quarter 2025 (Q4 2025). Operating margin was 76.0%, net earnings $368M (61.6% of revenue).
Franco Nevada, Q4 2025: revenue $597M, operating margin 76.0%, net earnings $368M, operating cash flow $426M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $597M | — | — |
| Gross profit | $460M | — | — |
| Operating profit | $454M | — | — |
| Net earnings | $368M | — | — |
| Operating cash flow | $426M | — | — |
| Free cash flow | $426M | — | — |
What changed
Revenue was $597.3M in Q4 2025.
Gross margin was 77.1%. Operating profit was $453.9M, a 76.0% margin. Net earnings were $367.7M. The effective tax rate was 21.5%.
Operating cash flow was $426.5M, 116% of net earnings. Working capital and other items added $58.8M. Capital expenditures of $200K left free cash flow of $426.3M.
Questions
What was Franco Nevada's revenue in the fourth quarter 2025?
Franco Nevada (FNV) reported revenue of $597M for the fourth quarter 2025 (Q4 2025).
Was Franco Nevada profitable in the fourth quarter 2025?
Operating profit was $454M (76.0% of revenue) and net earnings $368M.
Source: Franco Nevada 6-K on SEC EDGAR.