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Freehold Royalties Ltd.

Freehold Royalties Ltd.

FRU.TO
Freehold Royalties Ltd.CA flagToronto Stock Exchange
15.78
CAD
-0.33
- -
2.59BMarket Cap
Freehold Royalties Ltd.
FRU.TO
(Toronto Stock Exchange)

Recent

price

15.78

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.37
2.63
2.59
2.71
2.81
1.5
1.18
1.29
1.22
1.19
0.76
1.53
2.61
2.09
2.04
1.91
1.83
Revenue per Share
0.85
0.92
0.71
0.86
0.94
-0.05
-0.1
0.1
0.12
0.04
-0.12
0.53
1.39
0.88
0.99
0.56
0.55
Basic EPS, GAAP
1.24
1.76
1.19
1.24
-1.6
1.22
0.84
1.01
1.2
0.89
0.53
1.19
2.17
1.44
1.48
1.44
1.21
Free Cash Flow per Basic Share
1.24
1.12
1.26
1.26
1.22
0.85
0.51
0.57
0.62
0.63
0.33
0.45
0.94
1.08
1.08
1.08
1.08
Dividend per Share
- -
4.62
4.84
4.36
5.89
8.17
7.99
7.03
6.53
5.94
5.52
6.49
6.31
6.1
7.08
6.02
5.96
Book Value per Share
4.82
4.65
4.87
4.4
5.93
8.21
8.01
7.04
6.55
5.97
5.56
6.53
6.38
6.13
7.26
6.09
6.07
Tangible Book Value per Share
58
60
65
67
71
91
110
118
118
118
119
137
151
151
151
164
164
Basic Weighted Avg Shares
138
158
168
182
200
136
130
152
145
141
90
209
393
315
309
313
300
Sales/Revenue/Turnover
44.46
49.85
39.96
44.29
46.88
2.79
-6.63
10.12
16.06
19
-4.68
47.15
65.56
60.2
57.65
53.1
50.97
Operating Margin (%)
46
49
65
61
67
96
104
108
102
95
79
88
103
97
101
109
106
Depreciation Expense
49
55
46
58
66
-4
-11
12
14
5
-14
72
209
132
149
92
90
Net Income, GAAP
11.83
27.11
28.67
25.7
25.58
- -
- -
28.26
26.82
38.62
- -
23.97
22.24
23.51
21.9
25.75
25.23
Effective Tax Rate (%)
35.72
34.99
27.55
31.86
33.25
-3.01
-8.59
8.04
9.71
3.69
-15.49
34.49
53.23
41.93
48.29
29.28
29.84
Profit Margin (%)
-6
8
-24
4
3
5
11
21
1
14
27
45
21
22
19
15
26
Working Capital
65
48
18
49
139
152
84
90
90
111
95
148
158
124
302
284
303
LT Debt
281
279
316
294
421
743
885
832
775
707
659
891
960
924
1,099
998
996
Total Equity
15.69
17.04
14.02
17.05
15.43
- -
- -
1.17
1.9
1.95
- -
8.36
18.32
13.18
11.37
9.21
8.52
Return on Invested Capital (%)
-37.96
29.39
14.58
17.76
15.53
- -
- -
1.49
1.91
0.93
- -
8.37
19.97
12.99
13.35
7.97
7.77
Return on Capital (%)
- -
39.84
15.67
19.1
18.71
-0.7
-1.38
1.43
1.75
0.7
-2.05
9.35
22.78
14.11
15
8.91
8.77
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
284
283
301
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
164
164
164
Market Capitalization
2,259
2,491
2,848

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
52
50
62
Cash, Cash Equivalents & STI
- -
- -
- -
Accounts Receivable, Net
49
46
58
Inventories
- -
- -
- -
Total Current Liabilities
32
36
36
Payables & Accruals
30
33
33
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.97%
9.78%
-9.19%
Free Cash Flow
19.79%
46.42%
5.39%
Net Income, GAAP
-94.17%
-97.9%
-38.59%
Sales/Revenue/Turnover
16.92%
40.02%
1.29%
Total Cash Common Dividend
16.67%
42.1%
8.81%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
74
84
74
77
309
2025
91
78
74
70
313
2026
78
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.23
0.26
0.17
- -
0.99
2025
0.23
0.04
0.21
- -
0.56
2026
0.21
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.27
0.27
0.27
- -
1.08
2025
0.27
0.27
0.27
- -
1.08
2026
0.27
- -
- -
- -
- -
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Business
Freehold Royalties Ltd. acquires, manages and holds mineral title lands and royalty interests in crude oil, natural gas, natural gas liquids and potash properties across North America; its core assets encompass gross overriding royalties, freehold mineral title lands owned in perpetuity and other non-operated interests, with approximately 6.1 million gross acres in Western Canada including 1.1 million acres of owned mineral titles, and 1.2 million gross drilling acres in the United States primarily spanning the Permian (Midland and Delaware), Eagle Ford, Haynesville and Bakken basins in Texas, Louisiana, North Dakota and New Mexico. The company operates through two main segments, Canada and United States, generating revenue from royalty payments, lease rentals and bonus consideration tied to production by third-party operators such as ExxonMobil and Diamondback Energy, targeting long-term lower-risk returns through sustainable dividends funded by high-netback oil-weighted production. Freehold Royalties Ltd., founded in 1996 and headquartered in Calgary, Canada, maintains one of the largest non-government royalty portfolios in North America, with a diversified focus on oil plays like Mannville heavy oil, Clearwater and southeast Saskatchewan representing about 30% of Canadian output. In recent developments, the company completed a strategic $261.4 million acquisition of mineral title and royalty interests in the Midland Basin in December 2024, adding 1,250-1,350 boe/d of estimated 2025 production (61% light oil) across 244,000 gross acres under high-quality operators and funded via a $125.1 million bought deal equity financing alongside credit facilities; it also closed $116.2 million in Permian Basin deals in January 2024, boosting U.S. exposure, while increasing its senior credit facility to $450 million post-transaction and reporting second quarter 2025 production of 16,584 boe/d up 9% year-over-year driven by heavy oil growth and Permian integration.

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