Franco-Nevada (FNV) vs Royal Gold (RGLD)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Royal Gold (RGLD) has outperformed Franco-Nevada (FNV) over the past year, gaining 12.6% versus a gain of 12.3%. Over five years, RGLD leads with a +133.6% price change compared with +70.9% for FNV. Franco-Nevada is the larger company by market cap ($47.32 billion vs $20.01 billion), about 2.4 times the size.
On valuation, Royal Gold trades at a lower forward P/E (18.4x vs 26.3x for Franco-Nevada). Franco-Nevada offers the higher dividend yield (0.67% vs 0.40%). Franco-Nevada converts more of its revenue into profit, with a net margin of 61.0% versus 45.2%.
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 | RGLD |
|---|---|---|
| Share price | $245.33 | $236.14 |
| Market cap | $47.32B | $20.01B |
| 1-day change | +2.01% | +2.15% |
| YTD return | +16.03% | +4.00% |
| 1-year return | +12.34% | +12.64% |
| 5-year return | +70.88% | +133.61% |
| P/E ratio (TTM) | 32.07 | 26.15 |
| Forward P/E | 26.25 | 18.36 |
| EPS (TTM) | $7.65 | $9.03 |
| Dividend yield | 0.67% | 0.40% |
| Annual dividend | $1.64 | $0.95 |
| Revenue (latest FY) | $1.82B | $1.03B |
| Revenue growth (YoY) | +63.69% | +43.24% |
| Net income (latest FY) | $1.11B | $466.28M |
| Gross margin | 73.91% | 69.32% |
| Operating margin | 74.29% | 61.93% |
| Net margin | 61.01% | 45.25% |
| 52-week high | $285.67 | $306.25 |
| 52-week low | $181.50 | $168.88 |
| Distance from 52-week high | -14.12% | -22.89% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +16.98% | +31.21% |
| Average volume | 795.35K | 685.49K |
| Shares outstanding | 192.87M | 84.73M |
| Employees | — | 39 |
| Sector | Basic Materials | Industrials |
| 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 2.4 times larger than Royal Gold by market value ($47.32B vs $20.01B).
- Franco-Nevada is more profitable, keeping 61.0 cents of every revenue dollar as net income versus 45.2 cents for Royal Gold.
- Franco-Nevada grew revenue faster in its latest fiscal year (+63.69% vs +43.24%).
- The two companies sit in different sectors: Franco-Nevada in Basic Materials and Royal Gold in Industrials.
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 Royal Gold
RGLD stock →Royal Gold, Inc., together with its subsidiaries, acquires and manages precious metal streams, royalties, and related interests in North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific. It operates through Acquisition and Management of Stream Interests and Acquisition and Management of Royalty Interests segments.
Industrials · Precious Metals · 39 employees
FNV vs RGLD FAQ
Which is bigger, Franco-Nevada or Royal Gold?
Franco-Nevada (FNV) is larger, with a market capitalization of $47.32B compared with $20.01B for Royal Gold (RGLD).
Which stock has performed better over the past year, FNV or RGLD?
RGLD returned +12.64% 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 RGLD?
RGLD has the lower trailing P/E at 26.2, versus 32.1 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 Royal Gold?
Franco-Nevada has the higher yield at 0.67%, compared with 0.40% for Royal Gold.
Are Franco-Nevada and Royal Gold in the same industry?
Yes. Both are classified in the Precious Metals industry within the Basic Materials sector.