Franco-Nevada Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,804	1,102	1,217	1,314	1,298
Revenue Growth (YoY)	63.68%	-9.43%	-7.36%	1.23%	27.55%
Cost of Revenue	164.3	126.5	177.2	174.8	175.9
Gross Profit	1,640	975.7	1,040	1,139	1,122
Selling, General & Admin	29.5	26.6	23.5	22.5	19.6
Other Operating Expenses	-54.3	-7.9	-3.9	-0.7	-1.4
Operating Expenses	294	252	1,470	318.1	261
Operating Income	1,346	723.7	-430.7	820.7	860.7
Interest Expense	-0.7	-0.5	-0.6	-1	-1.4
Interest & Investment Income	42.4	69.5	52.3	12.6	3.7
Currency Exchange Gain (Loss)	4.3	-14.7	2.3	3.6	-3
Other Non Operating Income (Expenses)	30	-8.1	9.8	-2.2	-2.2
EBT Excluding Unusual Items	1,422	769.9	-366.9	833.7	857.8
Gain (Loss) on Sale of Assets	-	0.3	3.7	-	-
Other Unusual Items	-5.8	-6.3	-1	-	-
Pretax Income	1,416	763.9	-364.2	833.7	857.8
Income Tax Expense	303.9	211.8	102.2	133.1	124.1
Net Income	1,112	552.1	-466.4	700.6	733.7
Net Income to Common	1,112	552.1	-466.4	700.6	733.7
Net Income Growth	101.43%	-	-	-4.51%	124.92%
Shares Outstanding (Basic)	193	192	192	192	191
Shares Outstanding (Diluted)	193	193	192	192	192
Shares Change (YoY)	0.21%	0.16%	0.21%	0.21%	0.42%
EPS (Basic)	5.77	2.87	-2.43	3.66	3.84
EPS (Diluted)	5.76	2.87	-2.43	3.65	3.83
EPS Growth	100.73%	-	-	-4.70%	123.98%
Free Cash Flow	-703	421.5	469.6	858	194.9
Free Cash Flow Per Share	-3.64	2.19	2.44	4.47	1.02
Dividend Per Share	1.520	1.440	1.360	1.280	1.160
Dividend Growth	5.56%	5.88%	6.25%	10.35%	12.62%
Gross Margin	90.89%	88.52%	85.44%	86.69%	86.44%
Operating Margin	74.60%	65.66%	-35.39%	62.48%	66.33%
Profit Margin	61.64%	50.09%	-38.33%	53.33%	56.54%
Free Cash Flow Margin	-38.97%	38.24%	38.59%	65.32%	15.02%
EBITDA	1,648	949	1,016	1,107	1,092
EBITDA Margin	91.33%	86.10%	83.47%	84.27%	84.18%
D&A For EBITDA	301.9	225.3	1,446	286.2	231.6
EBIT	1,346	723.7	-430.7	820.7	860.7
EBIT Margin	74.60%	65.66%	-35.39%	62.48%	66.33%
Effective Tax Rate	21.46%	27.73%	-	15.96%	14.47%
Revenue as Reported	1,823	1,114	1,219	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.