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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '26 May 22, 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
Market Cap	2,886	2,491	2,097	1,620	1,873	1,379
Market Cap Growth	54.66%	18.77%	29.43%	-13.52%	35.88%	123.61%
Enterprise Value	3,189	2,775	2,399	1,745	2,031	1,524
Last Close Price	17.60	15.19	12.79	13.69	15.83	11.65
PE Ratio	32.65	27.13	13.05	15.56	11.39	21.98
Forward PE	23.31	19.86	14.86	17.55	14.07	13.31
PS Ratio	9.61	7.95	6.78	5.15	4.77	6.60
PB Ratio	2.90	2.49	1.91	1.75	1.95	1.55
P/TBV Ratio	2.90	2.50	1.77	2.24	2.49	1.79
P/FCF Ratio	17.14	10.58	9.39	7.47	5.72	8.51
P/OCF Ratio	13.20	10.58	9.39	7.47	5.72	8.51
EV/Sales Ratio	10.62	8.85	7.75	5.55	5.17	7.29
EV/EBITDA Ratio	12.32	11.08	7.78	6.25	5.38	8.18
EV/EBIT Ratio	20.99	19.54	11.60	9.55	7.38	15.50
EV/FCF Ratio	18.94	11.79	10.74	8.04	6.20	9.41
Debt / Equity Ratio	0.30	0.28	0.27	0.13	0.16	0.17
Debt / EBITDA Ratio	1.25	1.14	0.98	0.45	0.42	0.79
Debt / FCF Ratio	1.39	1.21	1.35	0.57	0.48	0.91
Net Debt / Equity Ratio	0.30	0.28	0.28	0.14	0.16	0.16
Net Debt / EBITDA Ratio	1.25	1.14	0.98	0.45	0.42	0.78
Net Debt / FCF Ratio	1.39	1.21	1.35	0.57	0.48	0.90
Asset Turnover	0.22	0.22	0.24	0.27	0.34	0.22
Quick Ratio	1.62	1.28	1.42	1.30	1.13	2.63
Current Ratio	1.73	1.41	1.54	1.66	1.56	3.43
Return on Equity (ROE)	8.98%	8.75%	14.77%	14.00%	22.60%	9.30%
Return on Assets (ROA)	7.42%	7.39%	12.42%	12.00%	18.75%	7.87%
Return on Invested Capital (ROIC)	7.45%	7.42%	12.47%	12.04%	18.84%	7.92%
Return on Capital Employed (ROCE)	10.19%	10.20%	16.32%	16.27%	24.87%	10.84%
Earnings Yield	3.10%	3.69%	7.66%	6.43%	8.78%	4.55%
FCF Yield	5.84%	9.45%	10.65%	13.39%	17.47%	11.75%
Dividend Yield	6.14%	7.11%	8.41%	7.89%	5.94%	3.90%
Payout Ratio	197.67%	192.93%	108.90%	123.37%	67.69%	85.97%
Buyback Yield / Dilution	-5.56%	-7.87%	-0.51%	-0.26%	-10.14%	-15.38%
Total Shareholder Return	0.58%	-0.76%	7.89%	7.63%	-4.20%	-11.48%

Updated May 12, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.