FNV EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
FNV's ev/ebitda is lower than 95% of the last 10 years.
EV/EBITDA History
FNV EV/EBITDA by year
Yearly range of FNV’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 16.8 to 64.5, averaging 28.8.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 16.8 | 22.8 | 31.2 | 19.5 |
| 2025 | 22.0 | 27.1 | 33.7 | 22.9 |
| 2024 | 21.4 | 21.4 | 21.4 | 21.4 |
| 2023 | 17.5 | 23.4 | 27.6 | 18.7 |
| 2022 | 16.9 | 21.4 | 26.6 | 20.9 |
| 2021 | 22.2 | 29.4 | 42.5 | 22.4 |
| 2020 | 24.6 | 48.1 | 64.5 | 40.2 |
| 2019 | 28.8 | 34.1 | 41.3 | 28.8 |
| 2018 | 20.8 | 24.6 | 29.9 | 29.9 |
| 2017 | 23.3 | 27.6 | 32.8 | 30.6 |
| 2016 | 23.9 | 26.1 | 29.9 | 26.1 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is FNV EV/EBITDA High or Low Right Now?
Franco-Nevada Corporation's EV/EBITDA is currently 19.5, which is near historic low relative to its 10-year historical range. The 10-year median EV/EBITDA for FNV is approximately 26.1. See all FNV valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.