Freehold Royalties Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	320.56	309.48	314.58	393.02	208.99	89.96
Revenue Growth (YoY)	2.52%	-1.62%	-19.96%	88.06%	132.32%	-36.13%
Gross Profit	320.56	309.48	314.58	393.02	208.99	89.96
Selling, General & Admin	20.28	19.27	18.77	22.31	17.82	12
Depreciation & Amortization Expenses	108.54	101.41	96.62	102.61	88.03	79.39
Other Operating Expenses	5.59	-17.97	16.46	-7.05	4.85	12.27
Total Operating Expenses	134.41	102.71	131.86	117.88	110.69	103.66
Operating Income	186.15	206.77	182.72	275.14	98.3	-13.7
Interest Expense	-18.2	-15.42	-10.28	-6.12	-3.49	-3.37
Total Non-Operating Income (Expense)	-18.2	-15.42	-10.28	-6.12	-3.49	-3.37
Pretax Income	167.95	191.36	172.44	269.02	94.81	-17.08
Provision for Income Taxes	39.13	41.91	40.53	59.84	22.73	-3.14
Net Income	128.82	149.45	131.9	209.19	72.08	-13.93
Net Income to Common	128.82	149.45	131.9	209.19	72.08	-13.93
Net Income Growth	-2.88%	13.30%	-36.95%	190.20%	-	-
Shares Outstanding (Basic)	0	151	151	151	137	119
Shares Outstanding (Diluted)	0	152	151	151	137	119
Shares Change (YoY)	7.07%	0.51%	0.26%	10.14%	15.38%	-0.02%
EPS (Basic)	0.81	0.99	0.88	1.39	0.53	-0.12
EPS (Diluted)	0.81	0.98	0.88	1.39	0.53	-0.12
EPS Growth	-8.99%	11.36%	-36.69%	162.26%	-	-
Free Cash Flow	239.48	223.33	216.92	327.35	162.02	65.77
Free Cash Flow Growth	7.23%	2.96%	-33.73%	102.04%	146.36%	-37.84%
Free Cash Flow Per Share	1484.24	1.47	1.43	2.17	1.18	0.55
Dividends Per Share	1.080	1.080	1.080	0.970	0.490	0.297
Dividend Growth	-	-	11.34%	97.96%	64.71%	-52.78%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	58.07%	66.81%	58.08%	70.01%	47.04%	-15.23%
Profit Margin	40.19%	48.29%	41.93%	53.23%	34.49%	-15.49%
FCF Margin	74.71%	72.16%	68.96%	83.29%	77.52%	73.11%
EBITDA	294.7	308.18	279.34	377.76	186.33	65.69
EBITDA Margin	91.93%	99.58%	88.80%	96.12%	89.16%	73.02%
EBIT	186.15	206.77	182.72	275.14	98.3	-13.7
EBIT Margin	58.07%	66.81%	58.08%	70.01%	47.04%	-15.23%
Effective Tax Rate	23.30%	21.90%	23.51%	22.24%	23.97%	18.41%

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.