Franco-Nevada reports after the market closes on November 11. Analysts expect earnings and revenue to rise from a year ago, though recent estimate revisions have turned less favourable.
Franco-Nevada Corporation (TSX: FNV) is set to report results for the quarter ended September 30, 2026. Analysts expect earnings per share (EPS) of C$2.08, based on five estimates, and revenue of about US$606.9 million, based on three estimates. Those forecasts imply year-over-year growth of 45.5% in EPS and 24.4% in revenue. Franco-Nevada earns royalties and streams from precious metals without operating the mines itself. It also has smaller revenue streams from energy and other mining. Investors will be watching to see whether higher metal prices translate into the expected growth.
Recent earnings trend
Franco-Nevada Corporation
FNV.TO
FNV.TO
Franco-Nevada Corporation
WealthAwesomeMarket cap
$69.48B
P/E
34.9x
Div. yield
0.47%
Div. / share
$1.64
52W high
$386.12
52W low
$263.99
1W change
+16.02%
Beta
0.93
Analyst Price Targets
Based on analyst covering FNV · as of Nov 9, 2026
Wall Street analysts forecast FNV stock price to rise 8.1% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$402.54
+8.1% Upside
Previously C$397.51 on Nov 6, 2026
Current Price
C$372.37
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on FNV's historical volatility
30-Day Vol
42.6%
Annualized
90-Day Vol
37.4%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$445.17
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$395.21 | C$341.15 – C$457.83 |
| 60 trading days | C$419.45 | C$340.67 – C$516.43 |
| 90 trading days | C$445.17 | C$345.05 – C$574.34 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 5 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-11 | — | 1.7300 | — |
| 2026-06-30 | 2026-08-11 | 1.8100 | 1.9700 | -8.1% |
| 2026-03-31 | 2026-04-27 | 3.3270 | 2.0840 | +59.6% |
| 2025-12-31 | 2026-03-10 | 1.8500 | 1.6700 | +10.8% |
| 2025-09-30 | 2025-11-03 | 1.4300 | 1.3800 | +3.6% |
| 2025-06-30 | 2025-08-11 | 1.2400 | 1.1200 | +10.7% |
Investor takeaway: Analysts expect a strong year-over-year increase, but the EPS estimate has fallen from C$2.25 a month ago to C$2.08. Four analysts lowered their estimates, while one raised theirs. Franco-Nevada beat estimates in three of its last four reported quarters, but missed consensus in its most recent quarter. The November 11 report will show whether revenue growth and the company’s high-margin royalty model support the current earnings outlook. For company background and coverage, see the Franco-Nevada stock page.
C$2.08
That’s the consensus EPS estimate for the quarter ended September 30, based on five analysts. It’s down from C$2.25 30 days ago, but still implies 45.5% growth from the year-ago EPS of C$1.43.
Bull case
Analysts expect revenue of about US$606.9 million, up 24.4% from a year ago, and EPS of C$2.08, up 45.5%. Recent coverage has noted that record-level gold prices are supporting royalty revenue and margins. Franco-Nevada’s reported profit margin is 64.23%, and its portfolio spans precious metals, energy and other mining. Stronger contributions from that portfolio could help the company meet the growth expectations reflected in analyst forecasts.
Bear case
Analysts have lowered their expectations over the past month, and Franco-Nevada missed its EPS estimate in the last reported quarter: C$1.81 versus C$1.97, a shortfall of 8.12%. The company had beaten estimates in the two quarters before that, so its recent record is mixed. Revenue forecasts are based on just three analysts, and EPS estimates range widely, from C$1.79 to C$2.77. Higher gold prices alone don’t guarantee that quarterly revenue or EPS will meet forecasts.
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