Franco Nevada vs Wheaton Precious Metals
Wheaton Precious Metals is the larger business, with $2.31bn of revenue in fiscal 2025 against $1.82bn for Franco Nevada (1.3 times as much). Wheaton Precious Metals grew faster (80.2% against 63.7%). Wheaton Precious Metals kept more of each dollar of sales as profit: a net margin of 63.6% against 61.0%. Franco Nevada carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | Franco NevadaFNV, 2025 | Wheaton Precious MetalsWPM, 2025 |
|---|---|---|
| Revenue | $1.82bn | $2.31bn |
| Revenue growth | 63.7% | 80.2% |
| Net income | $1.11bn | $1.47bn |
| Operating margin | 74.3% | 68.3% |
| Net margin | 61.0% | 63.6% |
| Return on equity | 16.3% | 18.5% |
| Free cash flow | $1.49bn | — |
| Cash | $671m | $1.15bn |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | 0.6% |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $43.55bn | $53.30bn |
| Price vs our value range | — | Within our value range |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |