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Franco-Nevada (MEX:FNV N) Cyclically Adjusted FCF per Share : MXN2.27 (As of Mar. 2025)


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What is Franco-Nevada Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Franco-Nevada's adjusted free cash flow per share for the three months ended in Mar. 2025 was MXN-23.279. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is MXN2.27 for the trailing ten years ended in Mar. 2025.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Franco-Nevada was 27.80% per year. The lowest was -0.90% per year. And the median was 13.25% per year.

As of today (2025-06-26), Franco-Nevada's current stock price is MXN3202.50. Franco-Nevada's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was MXN2.27. Franco-Nevada's Cyclically Adjusted Price-to-FCF of today is 1,410.79.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Franco-Nevada was 1128.24. The lowest was 411.19. And the median was 750.71.


Franco-Nevada Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Franco-Nevada's Cyclically Adjusted FCF per Share 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 Cyclically Adjusted FCF per Share Chart

Franco-Nevada Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only -18.47 -21.49 -9.37 -5.78 6.22

Franco-Nevada Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.10 -3.40 -4.51 6.22 2.27

Competitive Comparison of Franco-Nevada's Cyclically Adjusted FCF per Share

For the Gold subindustry, Franco-Nevada's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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's Cyclically Adjusted Price-to-FCF Distribution in the Metals & Mining Industry

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

* The bar in red indicates where Franco-Nevada's Cyclically Adjusted Price-to-FCF falls into.


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Franco-Nevada Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Franco-Nevada's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=-23.279/129.1809*129.1809
=-23.279

Current CPI (Mar. 2025) = 129.1809.

Franco-Nevada Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 5.156 100.500 6.627
201509 8.136 100.421 10.466
201512 -97.728 99.947 -126.312
201603 -40.594 101.054 -51.893
201606 6.562 102.002 8.311
201609 8.595 101.765 10.911
201612 -3.094 101.449 -3.940
201703 6.094 102.634 7.670
201706 -1.068 103.029 -1.339
201709 -5.634 103.345 -7.043
201712 -0.263 103.345 -0.329
201803 -37.821 105.004 -46.529
201806 2.173 105.557 2.659
201809 3.913 105.636 4.785
201812 -19.945 105.399 -24.445
201903 8.951 106.979 10.809
201906 8.299 107.690 9.955
201909 -18.005 107.611 -21.614
201912 17.692 107.769 21.207
202003 19.952 107.927 23.881
202006 17.794 108.401 21.205
202009 8.871 108.164 10.595
202012 11.272 108.559 13.413
202103 3.619 110.298 4.239
202106 -31.189 111.720 -36.064
202109 21.560 112.905 24.668
202112 27.379 113.774 31.087
202203 23.629 117.646 25.946
202206 25.894 120.806 27.689
202209 24.025 120.648 25.724
202212 15.676 120.964 16.741
202303 9.397 122.702 9.893
202306 8.911 124.203 9.268
202309 6.392 125.230 6.594
202312 17.557 125.072 18.134
202403 2.700 126.258 2.763
202406 16.912 127.522 17.132
202409 -2.629 127.285 -2.668
202412 25.753 127.364 26.120
202503 -23.279 129.181 -23.279

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Franco-Nevada  (MEX:FNV N) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Franco-Nevada's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=3202.50/2.27
=1,410.79

* 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Franco-Nevada was 1128.24. The lowest was 411.19. And the median was 750.71.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Franco-Nevada Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Franco-Nevada's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Franco-Nevada Business Description

Address
199 Bay Street, Suite 2000, Commerce Court West, Toronto, ON, CAN, M5L 1G9
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, located in the U.S, Canada, and Australia.

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