WallStSmart

Franco-Nevada Corporation (FNV)vsTeck Resources Ltd Class B (TECK)

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Smart Verdict

WallStSmart Research — data-driven comparison

Teck Resources Ltd Class B generates 588% more annual revenue ($12.41B vs $1.80B). FNV leads profitability with a 61.6% profit margin vs 14.9%. TECK appears more attractively valued with a PEG of 5.47. TECK earns a higher WallStSmart Score of 73/100 (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

TECK

Strong Buy

73

out of 100

Grade: B

Growth: 7.3Profit: 6.0Value: 4.7Quality: 6.8
Piotroski: 7/9Altman Z: 1.93
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
TECKUndervalued (+9.1%)

Margin of Safety

+9.1%

Fair Value

$66.42

Current Price

$60.76

$5.66 discount

UndervaluedFair: $66.42Overvalued

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

TECK4 strengths · Avg: 9.5/10
Operating MarginProfitability
39.8%10/10

Strong operational efficiency at 39.8%

Revenue GrowthGrowth
72.2%10/10

Revenue surging 72.2% year-over-year

EPS GrowthGrowth
128.8%10/10

Earnings expanding 128.8% YoY

Price/BookValuation
1.6x8/10

Reasonable price relative to book value

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

TECK3 concerns · Avg: 3.0/10
Altman Z-ScoreHealth
1.934/10

Grey zone — moderate risk

Return on EquityProfitability
5.9%3/10

ROE of 5.9% — below average capital efficiency

PEG RatioValuation
5.472/10

Expensive relative to growth rate

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 : TECK

The strongest argument for TECK centers on Operating Margin, Revenue Growth, EPS Growth. Revenue growth of 72.2% 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 : TECK

The primary concerns for TECK are Altman Z-Score, Return on Equity, PEG Ratio.

Key Dynamics to Monitor

TECK carries more volatility with a beta of 1.57 — expect wider price swings.

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

TECK generates stronger free cash flow (344M), providing more financial flexibility.

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

Bottom Line

TECK scores higher overall (73/100 vs 68/100) and 72.2% 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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Teck Resources Ltd Class B

BASIC MATERIALS · OTHER INDUSTRIAL METALS & MINING · USA

Teck Resources Limited is dedicated to exploring, acquiring, developing and producing natural resources in Asia, Europe and North America. The company is headquartered in Vancouver, Canada.

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