Franco-Nevada Corporation vs SOUTHERN COPPER CORPORATION, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Neither balance sheet complains, Franco-Nevada debt-free and Southern Copper at a manageable 0.57 turns, which frees the pair to be about earning style: royalty collection at a 54% net margin against low-cost copper mining at 34.2%, with the miner's 42% return on equity dwarfing the royalty house's 9.3%. The multiples price them at 58.5 and 28.5 times, the passive model at double the active one. Southern pays 1.8%, Franco less visibly. Two aristocracies, one of contracts and one of ore grades: the market pays twice as much per dollar for the one that never has to execute, while the one that executes brilliantly earns four and a half times the return. That sentence, priced, is the page.
Comparison updated 2026-07-10.
| Metric | FNV | SCCO |
|---|---|---|
| Price | $215.28 | $171.42 |
| Market cap | $41.5B | $140.9B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | — | +26.6% |
| P/E | 58.5 | 28.5 |
| P/B | 5.43 | 11.88 |
| P/S | 31.63 | 9.68 |
| EV/EBITDA | 34.9 | 16.2 |
| Revenue growth | +4.0% | +22.1% |
| Gross margin | 73.6% | — |
| Operating margin | 82.8% | 58.3% |
| Net margin | 54.0% | 34.2% |
| Return on equity | 9.3% | 42.0% |
| Return on assets | 8.6% | 22.7% |
| Return on invested capital | 9.3% | 33.7% |
| FCF yield | 4.5% | 3.0% |
| Dividend yield | — | 1.8% |
| Debt / equity | 0.00 | 0.57 |
| Current ratio | 8.30 | 4.38 |
| Altman Z (solvency) | 6.65 | 7.74 |
| Piotroski F (quality) | 8 / 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.