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How Franco Nevada (FNV) makes money
Franco Nevada (FNV) made $371M of revenue in the second quarter 2025 (Q2 2025), +42% from a year earlier. Revenue brought in $369M (100%); Basic brought in $1.3M (0%). Of every dollar of revenue, 73¢ was left as gross profit, 82¢ was left as operating profit, 67¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 2025
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Revenue | $369M | 99.7% | — | +42% |
| Basic | $1.3M | 0.3% | — | +212% |
Where each dollar of revenue goes
| Line | Q2 2025 | % of revenue |
|---|---|---|
| Revenue | $371M | 100.0% |
| Cost of revenue | $97.5M | 26.3% |
| Gross profit | $272M | 73.4% |
| Operating profit | $306M | 82.5% |
| Income tax | $68.6M | 18.5% |
| Net earnings | $247M | 66.7% |
| Operating cash flow | $430M | 116.1% |
| Free cash flow | $430M | 116.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 2025 | $369M | +42% |
From Franco Nevada's 6-K filed Aug 11, 2025 (on EDGAR).
Questions
How does Franco Nevada make money?
Franco Nevada (FNV) made $371M of revenue in the second quarter 2025 (Q2 2025), +42% from a year earlier. Revenue brought in $369M (100%); Basic brought in $1.3M (0%). Of every dollar of revenue, 73¢ was left as gross profit, 82¢ was left as operating profit, 67¢ was left as net earnings.
What is Franco Nevada's biggest business?
Revenue: $369M in the second quarter 2025, 100% of revenue, +42% from a year earlier.
What is Franco Nevada's profit margin?
Net earnings were $247M, 66.7% of revenue, in the second quarter 2025; the operating margin was 82.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.