Freehold Royalties Ltd.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a FRHLF research report →
Price Chart
About the company
Freehold Royalties Ltd. is a dividend-paying oil and gas royalty company. The firm engages in acquiring and managing oil and gas royalties.
- CEO
- David Michael Spyker
- IPO
- 2009
- Employees
- 52,241
- HQ
- Calgary, AB, CA
Get TickerSpark's AI analysis on FRHLF
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $2.12B
- P/E
- 20.77
- Fwd P/E
- 12.89
- PEG
- 1.78
- P/S
- 9.05
- P/B
- 2.87
- EV/EBITDA
- 10.64
- Div Yield
- 6.07%
- Gross Margin
- 65.85%
- Op Margin
- 55.01%
- Net Margin
- 43.54%
- ROE
- 13.88%
- ROIC
- 10.11%
Latest fiscal year · YoY change
- Revenue
- $313.20M+1.2%
- Gross Profit
- $197.13M-1.0%
- Op Income
- $166.31M
- Net Income
- $91.71M-38.6%
- EPS
- $0.56-43.4%
- OCF Growth
- +5.3%
- FCF Growth
- +201.4%
- 52W High
- $13.58
- 52W Low
- $9.48
- 50D MA
- $11.91
- 200D MA
- $11.93
- Beta
- 0.79
- RSI (14)
- 71
- Avg Volume
- 82.98K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Freehold Royalties delivered a strong Q2 with higher commodity prices, rising drilling activity, and improved balance sheet leverage, while keeping 2026 production guidance unchanged.· July 30, 2026
- Q2 royalty and other revenue was $100 million, up 29% from Q1 2026, and funds from operations were $78 million, or $0.47 per share, up 30%.
- Production averaged 15,622 BOE/d with 66% liquids weighting, and management said it was in line with earlier expectations.
- Cash costs improved to about $6.50 per BOE from $7.02 in Q1 and $7.38 in Q2 2025.
- Net debt fell by $24 million to $251 million, with net debt to trailing FFO improving to 1x.
- Management maintained full-year 2026 production guidance of 15,500 to 16,300 BOE/d, expecting more growth in the back half of the year.
Q2 royalty and other revenue totaled $100 million, up 29% versus Q1 2026. Funds from operations were $78 million, or $0.47 per share, up 30% from Q1 2026. Average realized pricing improved to just over $69 per BOE from about $55 per BOE in Q1, with crude oil realized at CAD 122 per barrel. Cash costs averaged approximately $6.50 per BOE, down from $7.02 in Q1 and $7.38 in Q2 2025. Production averaged 15,622 BOE/d with 66% liquids. Net debt declined $24 million to $251 million and net debt to trailing FFO improved to 1x. Freehold returned $44 million to shareholders via dividends and invested about $9 million in acquisitions, including about $29 million year to date in Permian mineral title and royalty interests. Management maintained 2026 production guidance at 15,500 to 16,300 BOE/d and said production additions should begin contributing in late 2026 and into 2027.
David Spyker emphasized that the quarter reflected stronger drilling momentum and improving commodity prices after a weaker 2025 period. He pointed to 35% higher drilling activity, 300 gross wells drilled on Freehold lands, and better well economics from longer laterals and improved completions. His tone was constructive on the back half of 2026, saying current activity supports the existing production outlook and that the company is seeing growth in both Canada and the U.S.
Brad Monaco said the quarter benefited from stronger realized prices, with revenue of $100 million and FFO of $78 million, while cash costs improved to about $6.50 per BOE. He highlighted a $24 million reduction in net debt to $251 million and a net debt-to-trailing FFO ratio of 1x, alongside $44 million returned in dividends and $9 million invested in acquisitions. He also framed capital allocation around maintaining flexibility for acquisitions, debt reduction, dividends, and possible buybacks, while noting the company would like to see the payout ratio stay under 60% for a few more quarters before changing the distribution outlook.
Analysts focused on when the recent jump in drilling activity would translate into production, and management said most U.S. activity should ramp into Q4 or Q1, while some Eagle Ford wells may not come on until late 2026 or early 2027. A second theme was well productivity: management said well lengths are up 10% quarter over quarter in the Permian, and year over year productivity is up about 30% in Canada and 15% in the U.S. On capital allocation, management said dividend growth is not imminent; they want to see the payout ratio remain below 60% for several quarters and are also considering the NCIB, balance sheet strength, and acquisition opportunities.
The call showed stronger commodity realizations, improving well productivity, and accelerating drilling across both Canada and the U.S., especially in the Permian. Management sounded confident that higher activity and new takeaway capacity in the Permian should support production growth later in 2026 and into 2027.
The biggest near-term risk is timing: management repeatedly said production additions depend on operator completion schedules and may not show up until late 2026 or early 2027. The Permian also faced negative gas pricing for most of Q2 because of Waha egress constraints, and while takeaway capacity is improving, the company is still exposed to commodity and infrastructure volatility. Dividend growth also appears deferred as management prioritizes balance sheet strength and flexibility.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 83.4%
- Shares Outstanding
- 163.96M
- Float Shares
- 136.80M
Held by 2 ETFs
Biggest fund positions in FRHLF by dollar value.
Our FRHLF coverage
Recent articles, reports, and earnings notes.
No research on FRHLF yet
For a full analyst-grade research report — grades, price targets, financials, chart analysis — generate one on demand.
Generate FRHLF report →Freehold Royalties Q2 Earnings Call Highlights
marketbeat.com · Aug 1
Freehold Royalties (OTCMKTS:FRHLF) Shares Gap Up – Time to Buy?
defenseworld.net · Jul 26
Freehold Royalties: High-Quality Royalty Model With Attractive Yield And Growth Optionality
seekingalpha.com · Jun 30
The Market Is Dead Wrong: I'm Buying Dirt-Cheap Energy Stocks
seekingalpha.com · Jun 28
Freehold Royalties Announces Appointment of Chief Financial Officer
globenewswire.com · Jun 17
Freehold Royalties Declares Dividend for June 2026
globenewswire.com · Jun 15
Here's How I Would Invest $10,000 Right Now
seekingalpha.com · Jun 7
Freehold Royalties Ltd. (FRU:CA) Shareholder/Analyst Call Transcript
seekingalpha.com · May 19
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.