Franco-Nevada (TSX:FNV) EBIT

: C$-484 Mil (TTM As of Dec. 2023)

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Franco-Nevada's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was C$-1,290 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was C$-484 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Franco-Nevada's annualized ROC % for the quarter that ended in Dec. 2023 was 14.74%. Franco-Nevada's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -80.40%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Franco-Nevada's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -1.60%.

Franco-Nevada EBIT Historical Data

The historical data trend for Franco-Nevada's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Franco-Nevada Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

544.54

435.38

1,098.37

1,132.72

-488.48

Franco-Nevada Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																261.65	252.86	281.93	271.57	-1,290.35

Competitive Comparison

For the Gold subindustry, Franco-Nevada's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Franco-Nevada EV-to-EBIT Distribution

For the Metals & Mining industry and Basic Materials sector, Franco-Nevada's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Franco-Nevada's EV-to-EBIT falls into.

Franco-Nevada EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-484 Mil.

Franco-Nevada (TSX:FNV) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Franco-Nevada's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	987.956 * ( 1 - -2.37% )	/	( (7643.12	+	6081.473)	/ 2 )
=	1011.3705572	/	6862.2965
=	14.74 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	9452.621	-	54.395	-	( 1755.106	-	max(0, 54.395	-	2051.976	+	1755.106	))
=	7643.12

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	8041.685	-	52.591	-	( 1907.621	-	max(0, 52.591	-	2167.086	+	1907.621	))
=	6081.473

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Franco-Nevada's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-5161.404	/	( ( (6977.801 + max(242.475, 0))	+	(5411.612 + max(206.874, 0)) )	/	2 )
=	-5161.404	/	( ( 7220.276	+	5618.486 )	/	2 )
=	-5161.404	/	6419.381
=	-80.40 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(182.398	+	0	+	114.472)	-	(54.395	+	0	+	0)
=	242.475

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(148.918	+	0.671	+	109.876)	-	(52.591	+	0	+	0)
=	206.874

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Franco-Nevada's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-483.993	/	30236.702
	=	-1.60 %

Franco-Nevada EBIT Related Terms

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Franco-Nevada (TSX:FNV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Franco-Nevada Corp (TSX:FNV) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

FNV:USA FNV:Mexico 3FO:Germany 3FO:Germany F2NV34:Brazil

Address

199 Bay Street, Suite 2000, P.O. Box 285, Commerce Court Postal Station, Toronto, ON, CAN, M5L 1G9

Website

https://www.franco-nevada.com

Franco-Nevada Corp is a precious-metals-focused royalty and investment company. The company owns a diversified portfolio of precious metals and royalty streams, which is actively managed to generate the bulk of its revenue from gold, silver, and platinum. The company does not operate mines, develop projects, or conduct exploration. Franco-Nevada's short-term financial performance is linked to the price of commodities and the amount of production from its portfolio of producing assets. Its long-term performance is affected by the availability of exploration and development capital. The company holds a portfolio of assets, diversified by commodity, revenue type, and stage of a project, primarily located in the United States, Canada, and Australia.

Executives

Sandip Rana

Senior Officer