WallStSmart

Franco-Nevada Corporation (FNV)vsTrade Desk Inc (TTD)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Trade Desk Inc generates 61% more annual revenue ($2.90B vs $1.80B). FNV leads profitability with a 61.6% profit margin vs 15.3%. TTD appears more attractively valued with a PEG of 0.90. TTD earns a higher WallStSmart Score of 72/100 (B).

FNV

Strong Buy

68

out of 100

Grade: B-

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

TTD

Strong Buy

72

out of 100

Grade: B

Growth: 7.3Profit: 8.0Value: 7.3Quality: 5.3
Piotroski: 2/9Altman Z: 1.95
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

FNVUndervalued (+6.0%)

Margin of Safety

+6.0%

Fair Value

$274.25

Current Price

$230.71

$43.54 discount

UndervaluedFair: $274.25Overvalued
TTDSignificantly Overvalued (-60.9%)

Margin of Safety

-60.9%

Fair Value

$16.92

Current Price

$22.34

$5.42 premium

UndervaluedFair: $16.92Overvalued

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

TTD2 strengths · Avg: 9.0/10
Operating MarginProfitability
30.3%10/10

Strong operational efficiency at 30.3%

PEG RatioValuation
0.908/10

Growing faster than its price suggests

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

TTD3 concerns · Avg: 3.7/10
P/E RatioValuation
26.8x4/10

Moderate valuation

Altman Z-ScoreHealth
1.954/10

Grey zone — moderate risk

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

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 : TTD

The strongest argument for TTD centers on Operating Margin, PEG Ratio. Profitability is solid with margins at 15.3% and operating margin at 30.3%. Revenue growth of 14.3% demonstrates continued momentum.

Bear Case : FNV

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

Bear Case : TTD

The primary concerns for TTD are P/E Ratio, Altman Z-Score, Piotroski F-Score.

Key Dynamics to Monitor

FNV profiles as a growth stock while TTD is a mature play — different risk/reward profiles.

TTD carries more volatility with a beta of 1.19 — expect wider price swings.

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

TTD generates stronger free cash flow (277M), providing more financial flexibility.

Bottom Line

TTD scores higher overall (72/100 vs 68/100), backed by strong 15.3% margins and 14.3% 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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Trade Desk Inc

COMMUNICATION SERVICES · ADVERTISING AGENCIES · USA

Trade Desk, Inc. is a technology company in the United States and internationally. The company is headquartered in Ventura, California.

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