Franco-Nevada (FNV) vs Wheaton Precious Metals (WPM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
Wheaton Precious Metals (WPM) has outperformed Franco-Nevada (FNV) over the past year, gaining 23.9% versus a gain of 9.2%. Over five years, WPM leads with a +227.2% price change compared with +68.6% for FNV. Wheaton Precious Metals is the larger company by market cap ($60.72 billion vs $45.88 billion), about 1.3 times the size.
On valuation, Franco-Nevada trades at a lower forward P/E (25.5x vs 26.9x for Wheaton Precious Metals). Franco-Nevada offers the higher dividend yield (0.69% vs 0.54%). Wheaton Precious Metals converts more of its revenue into profit, with a net margin of 63.6% versus 61.0%.
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 | WPM |
|---|---|---|
| Share price | $237.90 | $133.69 |
| Market cap | $45.88B | $60.72B |
| 1-day change | -2.49% | -2.88% |
| YTD return | +14.48% | +14.17% |
| 1-year return | +9.17% | +23.86% |
| 5-year return | +68.60% | +227.16% |
| P/E ratio (TTM) | 31.10 | 29.38 |
| Forward P/E | 25.46 | 26.87 |
| EPS (TTM) | $7.65 | $4.55 |
| Dividend yield | 0.69% | 0.54% |
| Annual dividend | $1.64 | $0.72 |
| Revenue (latest FY) | $1.82B | $2.31B |
| Revenue growth (YoY) | +63.69% | +80.18% |
| Net income (latest FY) | $1.11B | $1.47B |
| Gross margin | 73.91% | 72.22% |
| Operating margin | 74.29% | 68.33% |
| Net margin | 61.01% | 63.58% |
| 52-week high | $285.67 | $165.76 |
| 52-week low | $181.50 | $92.57 |
| Distance from 52-week high | -16.72% | -19.35% |
| Analyst consensus | buy | strong_buy |
| Avg. price target upside | +20.63% | +33.00% |
| Average volume | 800.58K | 1.99M |
| Shares outstanding | 192.87M | 454.16M |
| Sector | Basic Materials | Basic Materials |
| Industry | Gold | Gold |
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
- WPM has outperformed FNV by 14.7 percentage points over the past year.
- Wheaton Precious Metals grew revenue faster in its latest fiscal year (+80.18% vs +63.69%).
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 · Gold
About Wheaton Precious Metals
WPM stock →Wheaton Precious Metals Corp. operates as a precious metal streaming company.
Basic Materials · Gold
FNV vs WPM FAQ
Which is bigger, Franco-Nevada or Wheaton Precious Metals?
Wheaton Precious Metals (WPM) is larger, with a market capitalization of $60.72B compared with $45.88B for Franco-Nevada (FNV).
Which stock has performed better over the past year, FNV or WPM?
WPM returned +23.86% over the past 12 months, compared with +9.17% for FNV (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FNV or WPM?
WPM has the lower trailing P/E at 29.4, versus 31.1 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 Wheaton Precious Metals?
Franco-Nevada has the higher yield at 0.69%, compared with 0.54% for Wheaton Precious Metals.
Are Franco-Nevada and Wheaton Precious Metals in the same industry?
Yes. Both are classified in the Gold industry within the Basic Materials sector.