ERONYSEMetal MiningFiscal year ends December 31
Ero Copper Corp.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Mar 30, 2026
$34.43+0.27 (+0.79%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 13.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
43.9%−14.2 pts over 5 years
Operating margin
34.4%−12.2 pts over 5 years
Net margin
33.6%+17.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +67.1% | +22.6% | +19.4% | – | |
| Gross profit | +90.9% | +22.6% | +12.9% | – | |
| Operating income | +148.4% | +27.8% | +12.4% | – | |
| Net income | – | +37.3% | +38.6% | – | |
| EPS, diluted | – | +32.0% | +35.2% | – | |
| Free cash flow | – | – | +24.0% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 34.6% | |
| Return on assets | – | – | 15.6% | |
| Current ratio | – | 1.39 | 1.06 | |
| Debt to equity | – | 0.79 | 0.65 | |
| Net debt to EBITDA | – | 0.55× | 1.30× | |
| Interest coverage | – | 9.8× | 8.1× | |
| Inventory turnover | – | – | 5.9× | |
| Capex to revenue | – | 36.3% | 33.4% | |
| Diluted shares | – | 92M | 104M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ero Copper generated $1.21B from operations and spent $1.49B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.21B
Used
$1.49B
Capital expenditure$1.49B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin33.6%
×Asset turnover0.46×
×Equity multiplier2.22×
=Return on equity, FY202534.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 33.6% | 0.46× | 2.22× | 34.6% |
| FY2024 | -14.6% | 0.32× | 2.13× | -9.8% |
| FY2023 | 21.7% | 0.32× | 2.01× | 13.8% |
| FY2022 | 23.9% | 0.45× | 2.02× | 21.9% |
| FY2021 | 41.0% | 0.83× | 1.96× | 66.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$263.72M
- Cash generatingOperating cash flow above zero$395.14M
- Return on assets improvedROA up on the prior year-4.5% → 18.1%
- Earnings backed by cashOperating cash flow above net income$395.14M vs $263.72M
- Less leverageLong-term debt to assets fell38.2% → 28.7%
- Better liquidityCurrent ratio rose0.67 → 1.06
- No dilutionShare count did not rise103M → 104M
- Gross margin improvedGross margin up on the prior year38.39% → 43.85%
- More efficientAsset turnover rose0.31 → 0.54