WallStSmart

Franco-Nevada Corporation (FNV)vsHarmony Gold Mining Company Limited (HMY)

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Smart Verdict

WallStSmart Research — data-driven comparison

Harmony Gold Mining Company Limited generates 3787% more annual revenue ($81.15B vs $2.09B). FNV leads profitability with a 65.7% profit margin vs 20.1%. HMY appears more attractively valued with a PEG of 0.03. HMY earns a higher WallStSmart Score of 81/100 (A-).

FNV

Strong Buy

71

out of 100

Grade: B

Growth: 9.3Profit: 9.0Value: 3.3Quality: 7.8
Piotroski: 4/9Altman Z: 8.71

HMY

Exceptional Buy

81

out of 100

Grade: A-

Growth: 8.7Profit: 9.5Value: 10.0Quality: 7.0
Piotroski: 5/9Altman Z: 3.27
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FNVSignificantly Overvalued (-36.4%)

Margin of Safety

-36.4%

Fair Value

$188.88

Current Price

$218.74

$29.86 premium

UndervaluedFair: $188.88Overvalued
HMYUndervalued (+69.7%)

Margin of Safety

+69.7%

Fair Value

$52.31

Current Price

$17.30

$35.01 discount

UndervaluedFair: $52.31Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FNV5 strengths · Avg: 10.0/10
Profit MarginProfitability
65.7%10/10

Keeps 66 of every $100 in revenue as profit

Operating MarginProfitability
79.3%10/10

Strong operational efficiency at 79.3%

Revenue GrowthGrowth
77.7%10/10

Revenue surging 77.7% year-over-year

EPS GrowthGrowth
123.1%10/10

Earnings expanding 123.1% YoY

Altman Z-ScoreHealth
8.7110/10

Safe zone — low bankruptcy risk

HMY6 strengths · Avg: 9.8/10
PEG RatioValuation
0.0310/10

Growing faster than its price suggests

P/E RatioValuation
10.2x10/10

Attractively priced relative to earnings

Return on EquityProfitability
50.8%10/10

Every $100 of equity generates 51 in profit

Operating MarginProfitability
33.3%10/10

Strong operational efficiency at 33.3%

Altman Z-ScoreHealth
3.2710/10

Safe zone — low bankruptcy risk

Profit MarginProfitability
20.1%9/10

Keeps 20 of every $100 in revenue as profit

Areas to Watch

FNV2 concerns · Avg: 3.0/10
P/E RatioValuation
29.5x4/10

Moderate valuation

PEG RatioValuation
11.812/10

Expensive relative to growth rate

HMY0 concerns · Avg: 0/10

No major concerns identified

Comparative Analysis Report

WallStSmart Research

Bull Case : FNV

The strongest argument for FNV centers on Profit Margin, Operating Margin, Revenue Growth. Profitability is solid with margins at 65.7% and operating margin at 79.3%. Revenue growth of 77.7% demonstrates continued momentum.

Bull Case : HMY

The strongest argument for HMY centers on PEG Ratio, P/E Ratio, Return on Equity. Profitability is solid with margins at 20.1% and operating margin at 33.3%. Revenue growth of 19.5% demonstrates continued momentum.

Bear Case : FNV

The primary concerns for FNV are P/E Ratio, PEG Ratio.

Bear Case : HMY

No major red flags identified for HMY, but monitor valuation.

Key Dynamics to Monitor

FNV carries more volatility with a beta of 0.89 — expect wider price swings.

FNV is growing revenue faster at 77.7% — sustainability is the question.

HMY generates stronger free cash flow (5.5B), providing more financial flexibility.

Monitor GOLD industry trends, competitive dynamics, and regulatory changes.

Bottom Line

HMY scores higher overall (81/100 vs 71/100), backed by strong 20.1% margins and 19.5% revenue growth. Both earn "Exceptional Buy" and "Strong Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Franco-Nevada Corporation

BASIC MATERIALS · GOLD · USA

Franco-Nevada Corporation is a gold-focused royalty and flow company in the United States, Latin America, Canada, Australia, Europe and Africa, and internationally. The company is headquartered in Toronto, Canada.

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Harmony Gold Mining Company Limited

BASIC MATERIALS · GOLD · USA

Harmony Gold Mining Company Limited is engaged in the exploration, extraction and processing of gold in South Africa and Papua New Guinea. The company is headquartered in Randfontein, South Africa.

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