NEXANYSEMetal MiningFiscal year ends December 31
Nexa Resources S.A.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 26, 2026
$12.65+0.13 (+1.04%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 12.7
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
23.7%+4.5 pts over 5 years
Operating margin
16.6%+37.0 pts over 5 years
Net margin
4.4%+33.1 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 | +8.5% | -0.4% | +9.0% | +4.9% | |
| Gross profit | +32.5% | +3.7% | +13.7% | +5.9% | |
| Operating income | +80.2% | +11.3% | – | +11.8% | |
| Net income | – | +38.7% | – | – | |
| EPS, diluted | – | +38.1% | – | – | |
| Free cash flow | -85.8% | – | – | -25.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -32.1% | 14.6% | |
| Return on assets | – | -10.6% | 2.7% | |
| Current ratio | 1.82 | 1.97 | 0.87 | |
| Debt to equity | 0.40 | 1.47 | 1.70 | |
| Net debt to EBITDA | 0.56× | -6.07× | – | |
| Interest coverage | 1.8× | -2.5× | 1.6× | |
| Inventory turnover | – | 5.7× | 6.2× | |
| Capex to revenue | 9.2% | 16.6% | 11.7% | |
| Diluted shares | 81M | 0M | 132M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nexa Resources generated $1.73B from operations and spent $1.98B on capital expenditure, dividends and share buybacks. 90% of that went back into the business.
Generated
$1.73B
Used
$1.98B
Capital expenditure$1.79B90%Dividends$194.32M10%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.4%
×Asset turnover0.61×
×Equity multiplier5.46×
=Return on equity, FY202514.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.4% | 0.61× | 5.46× | 14.6% |
| FY2024 | -7.4% | 0.58× | 4.74× | -20.4% |
| FY2023 | -11.3% | 0.53× | 3.71× | -22.1% |
| FY2022 | 1.6% | 0.62× | 3.46× | 3.5% |
| FY2021 | 4.4% | 0.53× | 3.61× | 8.3% |
| FY2020 | -28.7% | 0.37× | 3.02× | -32.1% |
| FY2019 | -6.2% | 0.42× | 2.44× | -6.3% |
| FY2018 | 3.1% | 0.43× | 2.36× | 3.1% |
| FY2017 | 5.2% | 0.40× | 2.27× | 4.8% |
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$132.63M
- Cash generatingOperating cash flow above zero$364.96M
- Return on assets improvedROA up on the prior year-4.2% → 2.9%
- Earnings backed by cashOperating cash flow above net income$364.96M vs $132.63M
- Less leverageLong-term debt to assets fell36.9% → 31.3%
- Better liquidityCurrent ratio rose1.05 → 0.87
- No dilutionShare count did not rise132M → 132M
- Gross margin improvedGross margin up on the prior year19.45% → 23.75%
- More efficientAsset turnover rose0.56 → 0.65