CF vs. FNV: CF Industries vs. Franco-Nevada Stock Comparison

November 11, 2026

How do CF Industries (CF) and Franco-Nevada (FNV) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

CF Industries (CF) and Franco-Nevada (FNV) both fall under the Materials industry group, but CF is classified in Chemicals while FNV is classified in Metals & Mining.

Company profile comparison for CF Industries (CF) and Franco-Nevada (FNV)
Profile Item	CF	FNV
Name	CF Industries Holdings, Inc.	Franco-Nevada Corporation
Country/Region	United States	Canada
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Fertilizers & Agricultural Chemicals	Gold
Market Capitalization	17.46 billion USD	49.17 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 11, 2005	December 7, 2007
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FNV

GSPC

CF Industries (CF) vs. Franco-Nevada (FNV), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for CF Industries (CF) and Franco-Nevada (FNV). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for CF Industries (CF) and Franco-Nevada (FNV). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Total Return (1Y)	49.36%	37.48%
Total Return (3Y, Annualized)	17.00%	30.93%
Total Return (5Y, Annualized)	16.09%	13.51%

Risk Profile

Drawdown History

FNV

GSPC

CF Industries (CF) vs. Franco-Nevada (FNV), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for CF Industries (CF) and Franco-Nevada (FNV). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Volatility (1Y, Annualized)	43.66%	39.71%
Beta (5Y)	0.56	0.28
Max Drawdown (5Y)	-48.36%	-37.12%
Avg. Volume (3M)	2.49M	716.56K

Risk-Adjusted Performance

Risk-Return Positioning

CF and FNV are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Sharpe Ratio (1Y)	1.03	0.84
Sortino Ratio (1Y)	1.59	1.19

Profitability

ROE (TTM)

Both CF Industries (CF) at 30.86% and Franco-Nevada (FNV) at 19.91% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

CF

Materials industry group

30.86%

Max: 52.88%
CF: 30.86%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

FNV

Materials industry group

19.91%

Max: 52.88%
FNV: 19.91%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Franco-Nevada (FNV) at 64.23% keeps the most of each sales dollar — above its industry’s net margin range — and CF Industries (CF) at 27.48% also retains a top-quartile share.

CF

Materials industry group

27.48%

Max: 38.66%
CF: 27.48%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

FNV

Materials industry group

64.23%

FNV: 64.23%
Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Franco-Nevada (FNV) at 76.98% shows unusually strong operating efficiency — above its industry’s operating margin range — and CF Industries (CF) at 34.36% also operates in the top quartile.

CF

Materials industry group

34.36%

Max: 66.70%
CF: 34.36%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

FNV

Materials industry group

76.98%

FNV: 76.98%
Max: 66.70%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
ROE (TTM)	30.86%	19.91%
ROA (TTM)	12.61%	13.74%
Net Margin (TTM)	27.48%	64.23%
Operating Margin (TTM)	34.36%	76.98%
Gross Margin (TTM)	42.52%	92.09%

Growth

Revenue Growth

Franco-Nevada (FNV) at 63.69% sits in the top revenue growth quartile, while CF Industries (CF) at 19.34% is closer to the peer norm — faster top-line expansion for FNV.

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both CF Industries (CF) at 33.09% and Franco-Nevada (FNV) at 100.70% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Revenue Growth (YoY)	19.34%	63.69%
Revenue Growth (3Y CAGR)	-14.12%	11.48%
EPS Growth (YoY)	33.09%	100.70%
EPS Growth (3Y CAGR)	-18.19%	16.42%

Financial Strength

Current Ratio (MRQ)

CF Industries (CF) at 2.98 keeps current ratio within its industry’s typical mid-range, while Franco-Nevada (FNV) at 9.38 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

CF

Materials industry group

2.98

Max: 5.96
Q3: 3.30
CF: 2.98
Median: 2.24
Q1: 1.45
Min: 0.16

FNV

Materials industry group

9.38

FNV: 9.38
Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
Min: 0.16

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Only one side’s leverage can be read here: CF Industries (CF) carries debt-to-equity ratio of 0.41 against its industry range, while Franco-Nevada (FNV) reports no figure this period.

CF

Materials industry group

0.41

Max: 1.98
Q3: 0.89
Median: 0.47
CF: 0.41
Q1: 0.13
Min: 0.00

FNV

Materials industry group

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00
FNV: --

CF Industries (CF) vs. Franco-Nevada (FNV): FNV does not report debt-to-equity ratio, so it has no value marker; CF is benchmarked against the Materials industry group.

Financial Strength Metrics

Financial strength metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Current Ratio (MRQ)	2.98	9.38
Debt / Equity (MRQ)	0.41	--
Net Debt / EBITDA	0.21	-0.49

Dividends

Dividend Yield (TTM)

Both CF Industries (CF) at 1.77% and Franco-Nevada (FNV) at 0.65% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

CF

Materials industry group

1.77%

Max: 4.52%
Q3: 1.85%
CF: 1.77%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

FNV

Materials industry group

0.65%

Max: 4.52%
Q3: 1.85%
FNV: 0.65%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both CF Industries (CF) at 14.81% and Franco-Nevada (FNV) at 21.44% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

CF

Materials industry group

14.81%

Max: 83.62%
Q3: 41.37%
CF: 14.81%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

FNV

Materials industry group

21.44%

Max: 83.62%
Q3: 41.37%
FNV: 21.44%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
Dividend Yield (TTM)	1.77%	0.65%
Dividend Payout Ratio (TTM)	14.81%	21.44%

Valuation

P/E Ratio (TTM)

CF Industries (CF) at 8.42 sits in the cheaper P/E ratio quartile, while Franco-Nevada (FNV) at 33.33 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

CF

Materials industry group

8.42

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
CF: 8.42
Min: 3.93

FNV

Materials industry group

33.33

Max: 59.00
FNV: 33.33
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

CF Industries (CF) at 2.20 prices around its industry’s typical P/S ratio, while Franco-Nevada (FNV) at 21.37 clears its benchmark range — FNV looks notably rich on sales.

CF

Materials industry group

2.20

Max: 9.62
Q3: 4.34
CF: 2.20
Median: 1.87
Q1: 0.73
Min: 0.00

FNV

Materials industry group

21.37

FNV: 21.37
Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

CF Industries (CF) at 3.10 is valued about in line with its industry on P/B ratio, while Franco-Nevada (FNV) at 5.97 carries an above-peer premium to book — FNV is pricier on assets.

CF

Materials industry group

3.10

Max: 6.59
Q3: 3.55
CF: 3.10
Median: 2.08
Q1: 1.26
Min: -0.17

FNV

Materials industry group

5.97

Max: 6.59
FNV: 5.97
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

CF Industries (CF) vs. Franco-Nevada (FNV): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for CF Industries (CF) and Franco-Nevada (FNV)
Metric	CF	FNV
P/E Ratio (TTM)	8.42	33.33
P/S Ratio (TTM)	2.20	21.37
P/B Ratio (MRQ)	3.10	5.97
Free Cash Flow Yield (TTM)	9.10%	0.96%