Franco-Nevada posts record $1.8B revenue on precious metal rally

Franco-Nevada (NYSE:FNV), the gold-focused royalty and streaming company, reported record-breaking financial results for the fiscal year ended December 31, 2025.

Leveraging an exceptional rally in precious metal prices and a surge in production volumes, the company saw annual revenue soar 64% to $1,822.8 million, while operating cash flow climbed 80% to $1,493.7 million.

The company’s fourth quarter was particularly potent, with revenue hitting a record $597.3 million—an 86% increase year-over-year.

This performance allowed Franco-Nevada to end the year with a formidable capital position, reporting zero debt and $3.1 billion in available capital.

This liquidity provides the company with significant flexibility to pursue new deal flow as mining operators seek non-dilutive financing.

In a move to return value to shareholders, the company announced a 16% dividend increase for 2026.

This hike follows a year of aggressive capital deployment, including multiple post-year-end acquisitions intended to bolster the company's long-term production profile.

Looking ahead, Franco-Nevada issued 2026 production guidance in the range of 510,000 to 570,000 Gold Equivalent Ounces (GEOs).