WallStSmart

Franco-Nevada Corporation (FNV)vsMako Mining Corp Common Stock (MAKO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Franco-Nevada Corporation generates 1115% more annual revenue ($1.80B vs $148.47M). FNV leads profitability with a 61.6% profit margin vs 22.7%. MAKO trades at a lower P/E of 19.8x. MAKO earns a higher WallStSmart Score of 68/100 (B-).

FNV

Strong Buy

68

out of 100

Grade: B-

Growth: 9.3Profit: 9.0Value: 2.7Quality: 9.0
Piotroski: 4/9Altman Z: 12.18

MAKO

Strong Buy

68

out of 100

Grade: B-

Growth: 10.0Profit: 9.5Value: 5.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FNVSignificantly Overvalued (-54.5%)

Margin of Safety

-54.5%

Fair Value

$166.74

Current Price

$232.11

$65.37 premium

UndervaluedFair: $166.74Overvalued

Intrinsic value data unavailable for MAKO.

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

MAKO5 strengths · Avg: 9.6/10
Operating MarginProfitability
45.5%10/10

Strong operational efficiency at 45.5%

Revenue GrowthGrowth
74.7%10/10

Revenue surging 74.7% year-over-year

EPS GrowthGrowth
209.8%10/10

Earnings expanding 209.8% YoY

Return on EquityProfitability
29.6%9/10

Every $100 of equity generates 30 in profit

Profit MarginProfitability
22.7%9/10

Keeps 23 of every $100 in revenue as profit

Areas to Watch

FNV3 concerns · Avg: 2.0/10
PEG RatioValuation
11.812/10

Expensive relative to growth rate

P/E RatioValuation
40.7x2/10

Premium valuation, high expectations priced in

Free Cash FlowQuality
$-1.73B2/10

Negative free cash flow — burning cash

MAKO1 concerns · Avg: 3.0/10
Market CapQuality
$711.02M3/10

Smaller company, higher risk/reward

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 : MAKO

The strongest argument for MAKO centers on Operating Margin, Revenue Growth, EPS Growth. Profitability is solid with margins at 22.7% and operating margin at 45.5%. Revenue growth of 74.7% demonstrates continued momentum.

Bear Case : FNV

The primary concerns for FNV are PEG Ratio, P/E Ratio, Free Cash Flow. A P/E of 40.7x leaves little room for execution misses.

Bear Case : MAKO

The primary concerns for MAKO are Market Cap.

Key Dynamics to Monitor

MAKO carries more volatility with a beta of 1.68 — expect wider price swings.

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

MAKO generates stronger free cash flow (19M), providing more financial flexibility.

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

Bottom Line

FNV scores higher overall (68/100 vs 68/100), backed by strong 61.6% margins and 85.8% revenue growth. Both earn "Strong 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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Mako Mining Corp Common Stock

BASIC MATERIALS · GOLD · USA

None

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