Franco-Nevada (FNV) vs Pan American Silver (PAAS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Pan American Silver (PAAS) has outperformed Franco-Nevada (FNV) over the past year, gaining 13.9% versus a gain of 12.3%. Over five years, PAAS leads with a +80.0% price change compared with +70.9% for FNV. Franco-Nevada is the larger company by market cap ($47.54 billion vs $19.35 billion), about 2.5 times the size.
On valuation, Pan American Silver trades at a lower forward P/E (10.2x vs 26.4x for Franco-Nevada). Pan American Silver offers the higher dividend yield (1.33% vs 0.67%). Franco-Nevada converts more of its revenue into profit, with a net margin of 61.0% versus 27.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FNV | PAAS |
|---|---|---|
| Share price | $246.49 | $46.67 |
| Market cap | $47.54B | $19.35B |
| 1-day change | +2.49% | +3.00% |
| YTD return | +16.03% | -12.55% |
| 1-year return | +12.34% | +13.87% |
| 5-year return | +70.88% | +80.02% |
| P/E ratio (TTM) | 32.22 | 13.81 |
| Forward P/E | 26.38 | 10.18 |
| EPS (TTM) | $7.65 | $3.38 |
| Dividend yield | 0.67% | 1.33% |
| Annual dividend | $1.64 | $0.62 |
| Revenue (latest FY) | $1.82B | $3.62B |
| Revenue growth (YoY) | +63.69% | +28.38% |
| Net income (latest FY) | $1.11B | $980.00M |
| Gross margin | 73.91% | 38.82% |
| Operating margin | 74.29% | 34.07% |
| Net margin | 61.01% | 27.08% |
| 52-week high | $285.67 | $69.99 |
| 52-week low | $181.50 | $33.08 |
| Distance from 52-week high | -13.72% | -33.32% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +16.42% | +38.27% |
| Average volume | 795.35K | 4.02M |
| Shares outstanding | 192.87M | 414.62M |
| Employees | — | 9,348 |
| Sector | Basic Materials | Basic Materials |
| Industry | Precious Metals | Precious Metals |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Franco-Nevada is about 2.5 times larger than Pan American Silver by market value ($47.54B vs $19.35B).
- Franco-Nevada trades at a higher earnings multiple (32.2x vs 13.8x trailing P/E).
- Franco-Nevada is more profitable, keeping 61.0 cents of every revenue dollar as net income versus 27.1 cents for Pan American Silver.
- Franco-Nevada grew revenue faster in its latest fiscal year (+63.69% vs +28.38%).
About Franco-Nevada
FNV stock →Franco-Nevada Corporation operates as a royalty and stream company focused on precious metals in South America, Central America, Mexico, the United States, Canada, Australia, Europe, and Africa. The company operates through Precious Metals, Other Mining and Energy segments.
Basic Materials · Precious Metals
About Pan American Silver
PAAS stock →Pan American Silver Corp. engages in the exploration, mine development, extraction, processing, refining, and reclamation of mines in Chile, Peru, Brazil, Mexico, Canada, Argentina, Bolivia, and Guatemala.
Basic Materials · Precious Metals · 9,348 employees
FNV vs PAAS FAQ
Which is bigger, Franco-Nevada or Pan American Silver?
Franco-Nevada (FNV) is larger, with a market capitalization of $47.54B compared with $19.35B for Pan American Silver (PAAS).
Which stock has performed better over the past year, FNV or PAAS?
PAAS returned +13.87% over the past 12 months, compared with +12.34% for FNV (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FNV or PAAS?
PAAS has the lower trailing P/E at 13.8, versus 32.2 for FNV. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Franco-Nevada or Pan American Silver?
Pan American Silver has the higher yield at 1.33%, compared with 0.67% for Franco-Nevada.
Are Franco-Nevada and Pan American Silver in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.