Franco-Nevada Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Cash & Equivalents	714.7	670.9	1,451	1,422	1,197	539.3
Cash & Short-Term Investments	714.7	670.9	1,451	1,422	1,197	539.3
Cash Growth	-36.65%	-53.77%	2.07%	18.84%	121.86%	0.95%
Accounts Receivable	267.5	241.9	151.8	111	135.7	119.8
Other Receivables	12.8	15.2	8.1	-	-	-
Receivables	280.3	257.1	165.8	111	135.7	159.5
Inventory	0.7	0.6	7.3	0.5	0.1	0.5
Prepaid Expenses	8.9	2.7	2.5	30	22.1	18.8
Other Current Assets	123	90.1	89.9	51.9	28.7	33.3
Total Current Assets	1,128	1,021	1,717	1,615	1,383	751.4
Property, Plant & Equipment	6,318	6,054	4,109	4,034	4,934	5,156
Long-Term Investments	1,322	1,141	325.5	254.5	227.2	235.9
Long-Term Deferred Tax Assets	19.8	23.2	30.8	37	39.9	49.4
Long-Term Deferred Charges	1.7	1.1	1.4	1.1	1.5	1.2
Other Long-Term Assets	8.2	-	42.5	27.7	40.9	15.6
Total Assets	8,798	8,241	6,330	5,994	6,627	6,210
Accounts Payable	49.7	8.4	5.1	5.5	7	8.5
Accrued Expenses	-	36.5	23.6	25.4	36.1	25.1
Current Income Taxes Payable	133.5	78.1	38.8	8.3	7.1	9.6
Total Current Liabilities	183.2	123	67.5	39.2	50.2	43.2
Long-Term Deferred Tax Liabilities	487	440.7	238	180.1	153	135.4
Other Long-Term Liabilities	20.7	42.4	28.3	5.7	6	6.1
Total Liabilities	690.9	606.1	333.8	225	209.2	184.7
Common Stock	5,814	5,803	5,769	5,728	5,695	5,629
Additional Paid-In Capital	16.5	21.6	23	20.6	15.6	16.1
Retained Earnings	1,772	1,380	486.5	212.3	940.4	484.9
Comprehensive Income & Other	504.7	430.5	-282	-192	-233.7	-104.3
Shareholders' Equity	8,107	7,635	5,997	5,769	6,418	6,025
Total Liabilities & Equity	8,798	8,241	6,330	5,994	6,627	6,210
Net Cash (Debt)	714.7	670.9	1,451	1,422	1,197	539.3
Net Cash Growth	-36.65%	-53.77%	2.07%	18.84%	121.86%	0.95%
Net Cash Per Share	3.70	3.48	7.54	7.39	6.24	2.82
Filing Date Shares Outstanding	193.49	192.8	192.55	192.18	191.89	191.33
Total Common Shares Outstanding	192.86	192.8	192.55	192.18	191.89	191.33
Working Capital	944.4	898.4	1,649	1,576	1,333	708.2
Book Value Per Share	42.04	39.60	31.14	30.02	33.44	31.49
Tangible Book Value	8,107	7,635	5,997	5,769	6,418	6,025
Tangible Book Value Per Share	42.04	39.60	31.14	30.02	33.44	31.49
Machinery	7.1	7.1	6	6	5.8	5.6