CAMECO CORPORATION vs Franco-Nevada Corporation, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Franco-Nevada nets 54% of revenue owning royalties; Cameco nets 16.9% mining and converting uranium, and the margin gap is model, not skill. What unites the pages is pricing: 58.5 and 105.3 times earnings, two of the sector's most expensive multiples, each carrying a story its trailing year cannot. Franco's story is permanence, royalty cash through every cycle; Cameco's is the nuclear decade. Returns on equity nearly tie at 9.3% and 8.5%, remarkably low for such premium prices. Both are debt-free. The pair prices two forms of faith, compounding and renaissance; the reader should notice that neither faith currently earns double digits on its capital.
Comparison updated 2026-07-10.
| Metric | CCJ | FNV |
|---|---|---|
| Price | $104.56 | $215.28 |
| Market cap | $45.5B | $41.5B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| P/E | 105.3 | 58.5 |
| P/B | 8.97 | 5.43 |
| P/S | 17.78 | 31.63 |
| EV/EBITDA | 66.7 | 34.9 |
| Revenue growth | +24.4% | +4.0% |
| Gross margin | 27.9% | 73.6% |
| Operating margin | 17.8% | 82.8% |
| Net margin | 16.9% | 54.0% |
| Return on equity | 8.5% | 9.3% |
| Return on assets | 5.7% | 8.6% |
| Return on invested capital | 6.8% | 9.3% |
| FCF yield | 1.7% | 4.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 2.47 | 8.30 |
| Altman Z (solvency) | 7.21 | 6.65 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.