Stock fact sheet · data as of
Franco-Nevada Corporation (FNV): fair value, margin of safety and Wheel Score
Ticker symbol FNV · Basic Materials · Gold · Canada · Growth
Is FNV undervalued?
At 242.14 (close of 5 Nov 2026), FNV trades 143% over the GLS average fair value of 99.72, with 0 of 9 models above the price. The stock earns none of the Wheel Score's Value points at this price. That is a statement about price against trailing fundamentals, not about the company's prospects - the Wall Street View and the Growth tab on the Quote page carry the forward numbers.
The 9 models disagree widely: DCF gives 24.42 while Graham Growth gives 196.80. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, FNV is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 12, growth score 73, out of 100).
Nine valuation models for FNV
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 24.42 | -90% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 85.63 | -65% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 196.80 | -19% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 68.15 | -72% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 127.01 | -48% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 161.81 | -33% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 123.68 | -49% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 25.01 | -90% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 84.95 | -65% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 2.15 | -99% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 275.00 | +14% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health FNV scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 5.9 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are high - ROIC 14.6%, ROE 14.6%, ROA 13.5% - with debt at 0.00 times equity and a free-cash-flow yield of 1.9%.
The dividend yield is 0.70% with a payout ratio of 20% - a small yield that leaves most of the earnings in the business. Revenue comes mainly from Mining 34%, Precious metals 29%, Gold 24% (fiscal year FY2025).
Institutional ownership scores 9/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 14.6% |
|---|---|---|---|
| GLS Moat | 5.9 / 10 | ROE | 14.6% |
| Debt / equity | 0.00 | ROA | 13.5% |
| Free-cash-flow yield | 1.9% | Payout ratio | 20% |
| Institutions | 9 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 44: Weak
FNV scores 44 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 3, below fair value - trades 143% above our fair value, and the parts are thin too - value weak, premium strong, moat fair, health good, red flags strong, option trading fair, stability strong. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 42% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 12,892 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 846k shares a day on a market cap of $46.7B, with a beta of 0.93; the Stability part of the Wheel Score rates that strong.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 143% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 143% above fair value | |
| Premium | Strong | implied volatility 42% | |
| Moat | Fair | moat 5.9/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Fair | 998 contracts a day, 12,892 open interest | |
| Stability | Strong | beta 0.93, $46.7B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Franco-Nevada Corporation reports earnings on 11 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Gold
The 12 companies below are the closest to Franco-Nevada Corporation by market cap within the Gold industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AU AngloGold Ashanti Plc | 87.95 | 173.18 | +49% | 86Prime | $44.5B |
| WPM Wheaton Precious Metals Corp. | 131.50 | 81.20 | -62% | 41Weak | $59.7B |
| B Barrick Mining Corporation | 40.13 | 78.87 | +49% | 91Prime | $66.0B |
| GFI Gold Fields Limited | 36.75 | 95.99 | +62% | 55Fair | $33.0B |
| KGC Kinross Gold Corporation | 21.42 | 50.99 | +58% | 87Prime | $25.4B |
| AEM Agnico Eagle Mines Limited | 183.45 | 221.66 | +17% | 82Good | $92.7B |
| RGLD Royal Gold, Inc. | 246.08 | 246.80 | +0% | 37Weak | $20.9B |
| NEM Newmont Corporation | 118.11 | 181.07 | +35% | 91Prime | $122.7B |
| PAAS Pan American Silver Corp. | 41.49 | 64.66 | +36% | 82Good | $17.2B |
| CDE Coeur Mining, Inc. | 14.58 | 29.40 | +50% | 48Weak | $15.1B |
| EQX Equinox Gold Corp. | 11.28 | 19.95 | +43% | 80Good | $13.2B |
| AGI Alamos Gold Inc. | 30.00 | 55.98 | +46% | 83Good | $12.6B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about FNV
Is FNV undervalued right now?
No: at 242.14 the stock trades 143% above the GLS average fair value of 99.72 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of FNV and what does it mean?
FNV scores 44 out of 100 (Weak) - it fails Wheel Trade Filter 3. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for FNV?
99.72 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Franco-Nevada Corporation report earnings next?
The next earnings report is due on 11 Nov 2026 (before the open), 6 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does FNV have listed options, and how liquid are they?
Yes. The nightly snapshot found 144 listed contracts with 12,892 open interest across all expiries and implied volatility of 42% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.