Freehold Royalties Ratios and Metrics

Market cap in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar '26 Mar 2, 2026	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
Market Cap	2,896	2,097	2,063	2,385	1,755	619
Market Cap Growth	38.51%	1.65%	-13.51%	35.93%	183.52%	-28.43%
Enterprise Value	3,180	2,399	2,188	2,543	1,900	712.77
Last Close Price	17.66	12.79	13.69	15.83	11.65	5.21
PE Ratio	22.34	13.05	15.56	11.39	21.98	-43.42
Forward PE	24.40	14.86	17.55	14.07	13.31	130.25
PS Ratio	9.03	6.78	6.56	6.07	8.40	6.88
PB Ratio	2.80	1.91	2.23	2.48	1.97	0.94
P/TBV Ratio	0.00	1.77	2.24	2.49	1.79	0.94
P/FCF Ratio	-	9.39	9.51	7.29	10.83	9.41
P/OCF Ratio	12.09	9.39	9.51	7.29	10.83	9.41
EV/Sales Ratio	9.92	7.75	6.95	6.47	9.09	7.92
EV/EBITDA Ratio	11.03	7.79	7.83	6.73	10.20	10.85
EV/EBIT Ratio	17.76	11.60	11.97	9.24	19.33	-52.02
EV/FCF Ratio	-43.95	10.74	10.08	7.77	11.73	10.84
Debt / Equity Ratio	0.28	0.27	0.13	0.16	0.17	0.14
Debt / EBITDA Ratio	0.97	0.98	0.45	0.42	0.79	1.45
Debt / FCF Ratio	1.19	1.35	0.57	0.48	0.91	1.44
Net Debt / Equity Ratio	0.28	0.28	0.14	0.16	0.16	0.14
Net Debt / EBITDA Ratio	0.97	0.98	0.45	0.42	0.78	1.43
Net Debt / FCF Ratio	1.19	1.35	0.57	0.48	0.90	1.43
Asset Turnover	0.22	0.24	0.27	0.34	0.22	0.11
Quick Ratio	1.54	1.42	1.30	1.13	2.63	0.25
Current Ratio	1.63	1.54	1.66	1.56	3.43	1.40
Return on Equity (ROE)	12.08%	14.77%	14.00%	22.60%	9.30%	-2.04%
Return on Assets (ROA)	9.90%	12.42%	12.00%	18.75%	7.87%	-1.34%
Return on Invested Capital (ROIC)	9.94%	12.47%	12.04%	18.84%	7.92%	-1.35%
Return on Capital Employed (ROCE)	13.21%	16.32%	16.27%	24.87%	10.84%	-1.72%
Earnings Yield	4.45%	7.66%	6.43%	8.78%	4.55%	-2.30%
FCF Yield	-2.50%	10.65%	10.51%	13.72%	9.23%	10.63%
Dividend Yield	6.12%	8.41%	7.89%	5.94%	3.90%	6.33%
Payout Ratio	134.68%	108.90%	123.37%	67.69%	85.97%	-281.09%
Buyback Yield / Dilution	-	-7.89%	0.00%	0.00%	-12.75%	0.00%
Total Shareholder Return	-	0.51%	7.89%	5.94%	-8.86%	6.33%

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