Is the business good?
How good a business is ERO?
Ero Copper Corp. earns 15% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
15%
Return on invested capital · cost of capital 9.0% · 5.9 points above what the capital costs: growth creates value
- Operating margin
- 34%
Operating margin · Copper median 38% · fiscal year to FY2025
- Cash conversion
- 0.50×
Cash conversion · some of the reported profit has not turned into cash yet
- Share count, year on year
- +1.0%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 47% |
| FY2021 | 56% |
| FY2022 | 30% |
| FY2023 | 22% |
| FY2024 | 23% |
| FY2025 | 34% |
Details›
- Gross marginfiscal year to FY2025
- 44%
- Operating marginfiscal year to FY2025
- 34%
- Net marginfiscal year to FY2025
- 34%
- Free cash flow margin
- 17%
- Revenue, trailing twelve months
- $786M
- Free cash flow, trailing twelve months
- $132M
- Net income, trailing twelve months
- $264M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 15%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.