NYSE : ERO
Ero Copper Corp. — Financial statements
Materials · Copper · Canada
Last price 29.05 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.03B
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Financial statements
Ero Copper Corp. (ERO) reported revenue of 1.04B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.04B | 785.84M | 470.26M | 427.48M | 426.39M | 489.92M |
| Cost of Revenue | 595.58M | 441.21M | 289.71M | 270.63M | 239.22M | 171.06M |
| Gross Profit | 449.15M | 344.63M | 180.55M | 156.84M | 187.18M | 318.86M |
| Selling, General & Admin | 50.11M | 49.45M | 49.60M | 52.43M | 49.46M | 38.85M |
| Other Operating Expenses | 3.39M | 3.52M | 2.34M | 2.70M | 2.19M | 1.08M |
| Operating Expenses | 72.85M | 77.55M | 73.97M | 64.35M | 59.58M | 47.77M |
| Operating Income | 376.30M | 267.08M | 106.58M | 92.50M | 127.59M | 271.09M |
| Interest Expense | -25.57M | -15.37M | -1.81M | -12.78M | -21.13M | -5.12M |
| Interest & Investment Income | 5.97M | 5.38M | 4.30M | 12.46M | 10.29M | 2.99M |
| Currency Exchange Gain (Loss) | 63.20M | 95.74M | -165.01M | 34.61M | 19.91M | -21.97M |
| Other Non Operating Income (Expenses) | -31.16M | -21.88M | -19.50M | -14.45M | -10.29M | -8.85M |
| EBT Excluding Unusual Items | 388.74M | 330.96M | -75.44M | 112.35M | 126.38M | 238.14M |
| Other Unusual Items | -1.22M | |||||
| Pretax Income | 388.74M | 330.96M | -75.44M | 112.35M | 126.38M | 236.92M |
| Income Tax Expense | 73.43M | 64.05M | -7.65M | 18.05M | 23.32M | 34.29M |
| Earnings From Continuing Operations | 315.31M | 266.91M | -67.79M | 94.30M | 103.07M | 202.63M |
| Net Income to Company | 315.31M | 266.91M | -67.79M | 94.30M | 103.07M | 202.63M |
| Minority Interest in Earnings | -4.05M | -3.18M | -685.00K | -1.50M | -1.24M | -1.58M |
| Net Income | 311.26M | 263.72M | -68.47M | 92.80M | 101.83M | 201.05M |
| Net Income to Common | 311.26M | 263.72M | -68.47M | 92.80M | 101.83M | 201.05M |
| Shares Outstanding (Basic) | 104.03M | 103.68M | 103.11M | 94.11M | 90.79M | 88.60M |
| Shares Outstanding (Diluted) | 105.12M | 104.13M | 103.11M | 94.90M | 92.17M | 90.96M |
| EPS (Basic) | 2.99 | 2.54 | -0.66 | 0.99 | 1.12 | 2.27 |
| EPS (Diluted) | 2.96 | 2.53 | -0.66 | 0.98 | 1.10 | 2.21 |
| Free Cash Flow | 171.59M | 112.70M | -192.17M | -297.55M | -152.43M | 182.76M |
| Free Cash Flow Per Share | 1.63 | 1.08 | -1.86 | -3.14 | -1.65 | 2.01 |
| Gross Margin | 42.99% | 43.85% | 38.39% | 36.69% | 43.90% | 65.08% |
| Operating Margin | 36.02% | 33.99% | 22.66% | 21.64% | 29.92% | 55.33% |
| Profit Margin | 29.79% | 33.56% | -14.56% | 21.71% | 23.88% | 41.04% |
| Free Cash Flow Margin | 16.43% | 14.34% | -40.86% | -69.61% | -35.75% | 37.30% |
| EBITDA | 517.03M | 386.57M | 191.87M | 170.20M | 181.22M | 314.58M |
| EBITDA Margin | 49.49% | 49.19% | 40.80% | 39.81% | 42.50% | 64.21% |
| D&A For EBITDA | 140.72M | 119.49M | 85.28M | 77.71M | 53.63M | 43.50M |
| EBIT | 376.30M | 267.08M | 106.58M | 92.50M | 127.59M | 271.09M |
| EBIT Margin | 36.02% | 33.99% | 22.66% | 21.64% | 29.92% | 55.33% |
| Effective Tax Rate | 18.89% | 19.35% | 16.06% | 18.45% | 14.47% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 101.74M | 105.44M | 50.40M | 111.74M | 177.70M | 130.13M |
| Short-Term Investments | 139.70M | |||||
| Cash & Short-Term Investments | 101.74M | 105.44M | 50.40M | 111.74M | 317.40M | 130.13M |
| Accounts Receivable | 54.39M | 41.06M | 18.40M | 5.71M | 10.29M | 30.70M |
| Other Receivables | 6.54M | 8.00M | 17.18M | 14.22M | 12.25M | 15.11M |
| Receivables | 60.94M | 49.47M | 40.26M | 28.27M | 32.78M | 45.81M |
| Inventory | 130.00M | 107.11M | 42.09M | 42.25M | 30.95M | 26.02M |
| Prepaid Expenses | 7.66M | 5.84M | 5.88M | 5.66M | 6.67M | 5.87M |
| Other Current Assets | 23.67M | 8.34M | 3.16M | 11.56M | 4.62M | 860.00K |
| Total Current Assets | 324.00M | 276.21M | 141.79M | 199.49M | 392.43M | 208.69M |
| Property, Plant & Equipment | 1.79B | 1.61B | 1.27B | 1.28B | 770.96M | 477.47M |
| Long-Term Deferred Tax Assets | 1.76M | 3.05M | 16.66M | 1.31M | 2.31M | |
| Other Long-Term Assets | 22.39M | 23.70M | 22.40M | 14.63M | 14.30M | 1.29M |
| Total Assets | 2.16B | 1.92B | 1.46B | 1.51B | 1.19B | 689.76M |
| Accounts Payable | 114.67M | 92.28M | 58.07M | 74.88M | 47.87M | 25.40M |
| Accrued Expenses | 48.02M | 61.84M | 43.82M | 45.83M | 36.73M | 40.98M |
| Current Portion of Long-Term Debt | 34.58M | 55.71M | 45.89M | 20.38M | 15.70M | 4.34M |
| Current Portion of Leases | 13.90M | 16.28M | 10.90M | 11.00M | 6.22M | 4.71M |
| Current Income Taxes Payable | 11.09M | 14.68M | 3.33M | 4.00M | 5.43M | 7.35M |
| Current Unearned Revenue | 11.63M | 12.80M | 31.71M | 17.16M | 16.58M | 10.51M |
| Other Current Liabilities | 2.46M | 7.12M | 17.98M | 563.00K | 577.00K | 29.36M |
| Total Current Liabilities | 236.34M | 260.72M | 211.71M | 173.80M | 129.12M | 122.66M |
| Long-Term Debt | 519.86M | 551.40M | 556.30M | 405.85M | 402.35M | 54.91M |
| Long-Term Leases | 5.02M | 8.95M | 6.98M | 8.61M | 4.74M | 2.40M |
| Long-Term Unearned Revenue | 89.10M | 92.95M | 48.23M | 58.39M | 69.48M | 83.71M |
| Long-Term Deferred Tax Liabilities | 22.91M | 10.73M | 10.86M | 6.23M | ||
| Other Long-Term Liabilities | 64.01M | 61.27M | 43.74M | 44.84M | 33.99M | 30.60M |
| Total Liabilities | 937.25M | 986.02M | 866.95M | 702.36M | 645.91M | 294.27M |
| Common Stock | 300.64M | 298.49M | 286.55M | 271.34M | 148.06M | 133.07M |
| Additional Paid-In Capital | 25.85M | 7.33M | 8.18M | 8.50M | 11.19M | 12.17M |
| Retained Earnings | 943.09M | 744.78M | 481.06M | 549.53M | 456.73M | 354.89M |
| Comprehensive Income & Other | -56.05M | -115.07M | -188.65M | -25.11M | -77.37M | -107.08M |
| Total Common Equity | 1.21B | 935.53M | 587.13M | 804.25M | 538.59M | 393.06M |
| Minority Interest | 4.65M | 2.33M | 3.94M | 5.08M | 3.57M | 2.43M |
| Shareholders' Equity | 1.22B | 937.86M | 591.07M | 809.33M | 542.16M | 395.49M |
| Total Liabilities & Equity | 2.16B | 1.92B | 1.46B | 1.51B | 1.19B | 689.76M |
| Total Debt | 573.36M | 632.35M | 620.07M | 445.84M | 429.02M | 66.36M |
| Net Cash (Debt) | -471.61M | -526.90M | -569.67M | -334.10M | -111.62M | 63.77M |
| Net Cash Per Share | -4.49 | -5.06 | -5.53 | -3.52 | -1.21 | 0.70 |
| Filing Date Shares Outstanding | 104.30M | 104.28M | 103.57M | 102.76M | 92.26M | 90.23M |
| Total Common Shares Outstanding | 104.30M | 104.19M | 103.56M | 102.75M | 92.18M | 90.20M |
| Working Capital | 87.66M | 15.49M | -69.92M | 25.69M | 263.31M | 86.03M |
| Book Value Per Share | 11.63 | 8.98 | 5.67 | 7.83 | 5.84 | 4.36 |
| Tangible Book Value | 1.21B | 935.53M | 587.13M | 804.25M | 538.59M | 393.06M |
| Tangible Book Value Per Share | 11.63 | 8.98 | 5.67 | 7.83 | 5.84 | 4.36 |
| Buildings | 109.00M | 94.38M | 36.59M | 37.25M | 22.04M | 18.35M |
| Machinery | 582.36M | 531.93M | 321.92M | 312.10M | 213.72M | 134.59M |
| Construction In Progress | 373.79M | 338.70M | 501.06M | 419.66M | 111.82M | 19.19M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 311.26M | 263.72M | -68.47M | 92.80M | 101.83M | 201.05M |
| Depreciation & Amortization | 168.54M | 137.66M | 99.35M | 90.27M | 61.16M | 48.37M |
| Loss (Gain) From Sale of Investments | -469.00K | |||||
| Stock-Based Compensation | 19.35M | 24.58M | 9.98M | 9.22M | 7.93M | 7.85M |
| Other Operating Activities | 21.18M | 20.91M | 152.90M | -23.26M | -9.51M | 122.89M |
| Change in Accounts Receivable | -41.52M | -22.38M | -13.98M | 6.92M | -1.87M | -12.18M |
| Change in Inventory | -44.95M | -41.64M | -12.59M | -5.27M | -1.71M | -2.33M |
| Change in Accounts Payable | 46.14M | 18.13M | -4.14M | 1.67M | -614.00K | 7.70M |
| Change in Unearned Revenue | 2.44M | |||||
| Change in Other Net Operating Assets | -9.95M | -5.85M | -17.64M | -11.69M | -13.84M | -8.30M |
| Operating Cash Flow | 470.06M | 395.14M | 145.42M | 163.10M | 143.39M | 364.59M |
| Capital Expenditures | -298.47M | -282.44M | -337.59M | -460.65M | -295.82M | -181.83M |
| Investment in Securities | 152.48M | -129.99M | 2.31M | |||
| Other Investing Activities | 4.26M | 3.85M | 2.20M | |||
| Investing Cash Flow | -294.21M | -278.59M | -335.38M | -308.17M | -425.81M | -179.53M |
| Long-Term Debt Issued | 57.40M | 213.27M | 14.89M | 401.50M | 5.47M | |
| Total Debt Issued | 8.20M | 57.40M | 213.27M | 14.89M | 401.50M | 5.47M |
| Long-Term Debt Repaid | -72.71M | -54.17M | -19.66M | -63.08M | -118.08M | |
| Lease Payments | -19.99M | -17.97M | -14.22M | -11.88M | -7.43M | -4.84M |
| Net Debt Issued (Repaid) | -92.57M | -15.31M | 159.10M | -4.77M | 338.42M | -112.61M |
| Issuance of Common Stock | 8.23M | 7.25M | 8.36M | 115.49M | 8.80M | 5.55M |
| Other Financing Activities | -53.02M | -51.67M | -36.30M | -32.96M | -19.93M | -8.37M |
| Financing Cash Flow | -137.37M | -59.73M | 131.16M | 77.75M | 327.30M | -115.43M |
| Foreign Exchange Rate Adjustments | -5.04M | -1.78M | -2.53M | 1.35M | 2.69M | -2.01M |
| Net Cash Flow | 33.44M | 55.04M | -61.34M | -65.96M | 47.57M | 67.62M |
| Free Cash Flow | 171.59M | 112.70M | -192.17M | -297.55M | -152.43M | 182.76M |
| Free Cash Flow Margin | 16.43% | 14.34% | -40.86% | -69.61% | -35.75% | 37.30% |
| Free Cash Flow Per Share | 1.63 | 1.08 | -1.86 | -3.14 | -1.65 | 2.01 |
| Levered Free Cash Flow | 47.04M | -8.44M | -153.92M | -288.83M | -163.06M | 62.91M |
| Unlevered Free Cash Flow | 63.02M | 1.16M | -152.79M | -280.85M | -149.86M | 66.12M |
| Free Cash Flow After Leases | 151.60M | 94.72M | -206.38M | -309.43M | -159.86M | 177.91M |
| Cash Interest Paid | 42.56M | 42.74M | 32.17M | 27.46M | 15.38M | 4.16M |
| Cash Income Tax Paid | 15.50M | 1.86M | 8.20M | 5.56M | 5.42M | -25.19M |
| Change in Working Capital | -50.28M | -51.73M | -48.34M | -5.93M | -18.03M | -15.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.04B | 2.94B | 1.39B | 1.63B | 1.25B | 1.37B |
| Enterprise Value | 3.52B | 3.53B | 1.90B | 1.98B | 1.32B | 1.31B |
| Last Close Price | 29.05 | 28.29 | 13.48 | 15.79 | 13.75 | 15.29 |
| PE Ratio | 9.68 | 11.16 | 17.51 | 12.32 | 6.80 | |
| PS Ratio | 2.91 | 3.74 | 2.96 | 3.80 | 2.94 | 2.79 |
| PB Ratio | 2.50 | 3.14 | 2.35 | 2.01 | 2.31 | 3.46 |
| P/TBV Ratio | 2.51 | 3.15 | 2.37 | 2.02 | 2.33 | 3.48 |
| P/FCF Ratio | 17.72 | 26.11 | 7.49 | |||
| P/OCF Ratio | 6.47 | 7.45 | 9.57 | 9.96 | 8.75 | 3.75 |
| EV/Sales Ratio | 3.37 | 4.49 | 4.04 | 4.64 | 3.09 | 2.68 |
| EV/EBITDA Ratio | 6.82 | 9.13 | 9.91 | 11.65 | 7.27 | 4.17 |
| EV/EBIT Ratio | 9.37 | 13.22 | 17.85 | 21.43 | 10.32 | 4.84 |
| EV/FCF Ratio | 20.54 | 31.32 | 7.18 | |||
| Debt / Equity Ratio | 0.47 | 0.67 | 1.05 | 0.55 | 0.79 | 0.17 |
| Debt / EBITDA Ratio | 1.07 | 1.56 | 3.01 | 2.44 | 2.27 | 0.21 |
| Debt / FCF Ratio | 3.34 | 5.61 | 0.36 | |||
| Net Debt / Equity Ratio | 0.39 | 0.56 | 0.96 | 0.41 | 0.21 | -0.16 |
| Net Debt / EBITDA Ratio | 0.91 | 1.36 | 2.97 | 1.96 | 0.62 | -0.20 |
| Net Debt / FCF Ratio | 2.75 | 4.67 | -2.96 | -1.12 | -0.73 | -0.35 |
| Asset Turnover | 0.53 | 0.47 | 0.32 | 0.32 | 0.45 | 0.83 |
| Inventory Turnover | 6.19 | 5.91 | 6.87 | 7.39 | 8.40 | 6.64 |
| Quick Ratio | 0.69 | 0.59 | 0.41 | 0.76 | 2.63 | 1.43 |
| Current Ratio | 1.37 | 1.06 | 0.67 | 1.15 | 3.04 | 1.70 |
| Return on Equity (ROE) | 30.80% | 34.91% | -9.68% | 13.96% | 21.98% | 66.48% |
| Return on Assets (ROA) | 11.97% | 9.87% | 4.49% | 4.28% | 8.49% | 28.55% |
| Return on Invested Capital (ROIC) | 18.48% | 16.41% | 9.25% | 8.64% | 21.12% | 71.00% |
| Return on Capital Employed (ROCE) | 19.60% | 16.10% | 8.60% | 6.90% | 12.00% | 47.80% |
| Earnings Yield | 10.34% | 8.96% | -4.92% | 5.71% | 8.12% | 14.70% |
| FCF Yield | 5.64% | 3.83% | -13.81% | -18.31% | -12.15% | 13.36% |
| Buyback Yield / Dilution | -1.47% | -1.00% | -8.65% | -2.96% | -1.33% | 1.36% |