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Franco-Nevada (MEX:FNV N) E10 : MXN24.40 (As of Mar. 2025)


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What is Franco-Nevada E10?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Franco-Nevada's adjusted earnings per share data for the three months ended in Mar. 2025 was MXN22.299. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is MXN24.40 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Franco-Nevada's average E10 Growth Rate was 22.20% per year. During the past 3 years, the average E10 Growth Rate was 10.70% per year. During the past 5 years, the average E10 Growth Rate was 21.00% per year. 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 E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Franco-Nevada was 35.10% per year. The lowest was 10.70% per year. And the median was 21.10% per year.

As of today (2025-06-28), Franco-Nevada's current stock price is MXN3202.50. Franco-Nevada's E10 for the quarter that ended in Mar. 2025 was MXN24.40. Franco-Nevada's Shiller PE Ratio of today is 131.25.

During the past 13 years, the highest Shiller PE Ratio of Franco-Nevada was 286.89. The lowest was 61.67. And the median was 131.62.


Franco-Nevada E10 Historical Data

The historical data trend for Franco-Nevada's E10 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 E10 Chart

Franco-Nevada Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15.63 24.88 29.11 23.11 30.23

Franco-Nevada Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
E10 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 21.65 25.69 28.51 30.23 24.40

Competitive Comparison of Franco-Nevada's E10

For the Gold subindustry, Franco-Nevada's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Franco-Nevada's Shiller PE Ratio distribution charts can be found below:

* The bar in red indicates where Franco-Nevada's Shiller PE Ratio falls into.


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Franco-Nevada E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

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 earnings per share data for the three months ended in Mar. 2025 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=22.299/129.1809*129.1809
=22.299

Current CPI (Mar. 2025) = 129.1809.

Franco-Nevada Quarterly Data

per share eps CPI Adj_EPS
201506 2.208 100.500 2.838
201509 1.698 100.421 2.184
201512 -3.456 99.947 -4.467
201603 3.114 101.054 3.981
201606 4.461 102.002 5.650
201609 5.830 101.765 7.401
201612 -0.622 101.449 -0.792
201703 4.731 102.634 5.955
201706 4.542 103.029 5.695
201709 5.836 103.345 7.295
201712 4.540 103.345 5.675
201803 6.390 105.004 7.861
201806 5.727 105.557 7.009
201809 5.264 105.636 6.437
201812 -3.355 105.399 -4.112
201903 6.823 106.979 8.239
201906 6.564 107.690 7.874
201909 10.714 107.611 12.862
201912 11.373 107.769 13.633
202003 -12.254 107.927 -14.667
202006 11.599 108.401 13.822
202009 17.983 108.164 21.477
202012 18.392 108.559 21.886
202103 18.489 110.298 21.654
202106 18.405 111.720 21.282
202109 17.978 112.905 20.570
202112 23.316 113.774 26.473
202203 18.915 117.646 20.770
202206 20.520 120.806 21.943
202209 16.494 120.648 17.661
202212 16.767 120.964 17.906
202303 14.600 122.702 15.371
202306 16.458 124.203 17.118
202309 15.851 125.230 16.351
202312 -86.908 125.072 -89.763
202403 12.447 126.258 12.735
202406 7.511 127.522 7.609
202409 15.555 127.285 15.787
202412 18.979 127.364 19.250
202503 22.299 129.181 22.299

Add all the adjusted EPS together and divide 10 will get our e10.


Franco-Nevada  (MEX:FNV N) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Franco-Nevada's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=3202.50/24.40
=131.25

* 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 Shiller P/E Ratio of Franco-Nevada was 286.89. The lowest was 61.67. And the median was 131.62.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Franco-Nevada E10 Related Terms

Thank you for viewing the detailed overview of Franco-Nevada's E10 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.

Franco-Nevada Headlines

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