WallStSmart

Franco-Nevada Corporation (FNV)vsKinross Gold Corporation (KGC)

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Smart Verdict

WallStSmart Research — data-driven comparison

Kinross Gold Corporation generates 291% more annual revenue ($7.05B vs $1.80B). FNV leads profitability with a 61.6% profit margin vs 33.9%. KGC appears more attractively valued with a PEG of 1.12. KGC earns a higher WallStSmart Score of 81/100 (A-).

FNV

Strong Buy

68

out of 100

Grade: B-

Growth: 9.3Profit: 9.0Value: 6.0Quality: 9.0
Piotroski: 4/9Altman Z: 12.18

KGC

Exceptional Buy

81

out of 100

Grade: A-

Growth: 8.0Profit: 10.0Value: 10.0Quality: 6.8
Piotroski: 6/9Altman Z: 1.74
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FNVUndervalued (+6.0%)

Margin of Safety

+6.0%

Fair Value

$274.25

Current Price

$233.67

$40.58 discount

UndervaluedFair: $274.25Overvalued
KGCUndervalued (+61.9%)

Margin of Safety

+61.9%

Fair Value

$91.26

Current Price

$29.02

$62.24 discount

UndervaluedFair: $91.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

FNV6 strengths · Avg: 10.0/10
Profit MarginProfitability
61.6%10/10

Keeps 62 of every $100 in revenue as profit

Operating MarginProfitability
76.1%10/10

Strong operational efficiency at 76.1%

Revenue GrowthGrowth
85.8%10/10

Revenue surging 85.8% year-over-year

EPS GrowthGrowth
108.8%10/10

Earnings expanding 108.8% YoY

Debt/EquityHealth
0.0010/10

Conservative balance sheet, low leverage

Altman Z-ScoreHealth
12.1810/10

Safe zone — low bankruptcy risk

KGC5 strengths · Avg: 9.6/10
Return on EquityProfitability
31.5%10/10

Every $100 of equity generates 32 in profit

Profit MarginProfitability
33.9%10/10

Keeps 34 of every $100 in revenue as profit

Operating MarginProfitability
49.2%10/10

Strong operational efficiency at 49.2%

Revenue GrowthGrowth
42.9%10/10

Revenue surging 42.9% year-over-year

P/E RatioValuation
14.9x8/10

Attractively priced relative to earnings

Areas to Watch

FNV3 concerns · Avg: 2.7/10
P/E RatioValuation
39.4x4/10

Premium valuation, high expectations priced in

PEG RatioValuation
11.812/10

Expensive relative to growth rate

Free Cash FlowQuality
$-1.73B2/10

Negative free cash flow — burning cash

KGC2 concerns · Avg: 4.0/10
EPS GrowthGrowth
2.4%4/10

2.4% earnings growth

Altman Z-ScoreHealth
1.744/10

Distress zone — elevated risk

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 61.6% and operating margin at 76.1%. Revenue growth of 85.8% demonstrates continued momentum.

Bull Case : KGC

The strongest argument for KGC centers on Return on Equity, Profit Margin, Operating Margin. Profitability is solid with margins at 33.9% and operating margin at 49.2%. Revenue growth of 42.9% demonstrates continued momentum.

Bear Case : FNV

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

Bear Case : KGC

The primary concerns for KGC are EPS Growth, Altman Z-Score.

Key Dynamics to Monitor

KGC carries more volatility with a beta of 1.32 — expect wider price swings.

FNV is growing revenue faster at 85.8% — sustainability is the question.

KGC generates stronger free cash flow (819M), providing more financial flexibility.

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

Bottom Line

KGC scores higher overall (81/100 vs 68/100), backed by strong 33.9% margins and 42.9% 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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Kinross Gold Corporation

BASIC MATERIALS · GOLD · USA

Kinross Gold Corporation is engaged in the acquisition, exploration and development of gold properties primarily in the United States, the Russian Federation, Brazil, Chile, Ghana and Mauritania. The company is headquartered in Toronto, Canada.

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