ERO Basic Materials

Ero Copper Corp.

$30.44+4.39%

Price as of close on Nov 3, 2026 · Financials updated Nov 4, 2026

Basics

Sector: Basic Materials
Industry: Copper
Country: Canada
Market cap: 3.2B USD
Enterprise value: 4.1B USD

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.62 vs a peer median of 0.69), less short-term liquidity (current ratio 1.06 vs a peer median of 1.76) and more debt relative to equity (0.65× vs a peer median of 0.36×)higher risk: bigger price swings (beta 1.62 vs peers 0.69), less liquidity (current ratio 1.06 vs peers 1.76) and more debt vs equity (0.65× vs peers 0.36×)

Ranks #322 of 1,217 basic materials companies (top 27%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Ero Copper made a profit per share in its latest year after a loss the year before.
Profits growing faster than sales. Since 2022: revenue +84%, operating profit +108%.
Since 2022, Ero Copper's revenue grew 84% while operating profit grew 108%: each extra dollar of sales is adding more profit.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Wide margins. Operating margin 34% (12 months to Dec 2025) vs a peer median of 7.6%.Operating margin 34% vs peers 7.6%.
Ero Copper keeps 34% of revenue as operating profit, more than 93% of peers (median 7.6%).

StockQuotient Score

64/ 100▲ 1 since Oct 27 close

Oct 5 62 → Nov 4 64 (+2)

Valuation

Is the price right?

60/100

Moderate▲ 4 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 56 → 60

Share price -6.4%+2
Company's reported figures updated+1
Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Earnings yield
▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield8.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score 1.38Sector median: 0.0364 · MAD: 0.0364

EBITDA yield7.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value50% base weight · Z-score -0.16Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield4.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.67Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield30.8%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

97/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 67.1%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 4.93Sector median: 0.0941 · MAD: 0.3300

3-year revenue growth22.6%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 3.12Sector median: -0.0005 · MAD: 0.0725

Revenue growth67.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 5.97Sector median: 0.0335 · MAD: 0.0952

Profitability

Does it earn well?

91/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Turned profitable over the last 12 months
Operating margin rose 11.3 points to 34.4%
Free cash flow turned positive over the last 12 months

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin34.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 4.35Sector median: 0.0757 · MAD: 0.0617

Return on assets13.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 4.23Sector median: 0.0249 · MAD: 0.0265

Return on invested capital14.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.41Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin43.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity28.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.62

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.31Sector median: 0.6950 · MAD: 0.2810

Current ratio1.06×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.04Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.65×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -0.99Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Ero Copper

Is Ero Copper getting weaker?: Its latest SEC filing (Mar 30, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 11.3 points to 34.4%. Its overall score is 64/100, up 1 since Oct 28, 2026.
How is Ero Copper valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 1,371 basic materials peers. Earnings yield 8.7% vs a peer median of 3.6% (stronger than 82% of peers).Earnings yield 8.7% vs peers 3.6% (stronger than 82% of peers).
Is Ero Copper growing?: Yes, faster than most of its peers. Growth scores 97/100 against 1,371 basic materials peers. Revenue growth 67.1% vs a peer median of 3.4% (stronger than 95% of peers).Revenue growth 67.1% vs peers 3.4% (stronger than 95% of peers).
How profitable is Ero Copper?: More profitable than most of its peers. Profitability scores 91/100 against 1,371 basic materials peers. Return on assets 13.7% vs a peer median of 2.5% (stronger than 94% of peers).Return on assets 13.7% vs peers 2.5% (stronger than 94% of peers).
How risky is Ero Copper?: Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 1.62 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.62 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 30, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Turned profitable over the last 12 months
Operating margin rose 11.3 points to 34.4%
Free cash flow turned positive over the last 12 months

	Previous year	Latest year	Change
Revenue (12 months)	470.3M USD	785.8M USD	+67.1%
Net income (12 months)	−68.5M USD	263.7M USD	turned positive
Operating margin	23.2%	34.4%	+11.3 pts
Free cash flow (12 months)	−183.5M USD	132.4M USD	turned positive
Debt	602.2M USD	607.1M USD	+0.8%
Cash	50.4M USD	105.4M USD	+109.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	65.1%	43.9%	36.7%	38.4%	43.9%	▲ 5.5 pts
Operating margin	55.6%	30.4%	22.3%	23.2%	34.4%	▲ 11 pts
Net margin	41.0%	23.9%	21.7%	-14.6%	33.6%	▲ 48 pts
Return on assets (ROA)	29.1%	8.6%	6.1%	-4.7%	13.7%	▲ 18 pts
Return on equity (ROE)	51.2%	18.9%	11.5%	-11.7%	28.2%	▲ 40 pts
Free cash flow margin	39.9%	-32.7%	-66.5%	-39.0%	16.8%	▲ 56 pts
Current ratio	1.70×	3.04×	1.15×	0.67×	1.06×	▲ 58%
Quick ratio	1.49×	2.80×	0.90×	0.47×	0.65×	▲ 38%
Debt to equity	0.15×	0.78×	0.53×	1.03×	0.65×	▼ 37%
Interest coverage	22.38×	3.91×	3.69×	6.37×	8.11×	▲ 27%

ERO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.62 vs a peer median of 0.69), less short-term liquidity (current ratio 1.06 vs a peer median of 1.76) and more debt relative to equity (0.65× vs a peer median of 0.36×)higher risk: bigger price swings (beta 1.62 vs peers 0.69), less liquidity (current ratio 1.06 vs peers 1.76) and more debt vs equity (0.65× vs peers 0.36×)

Ranks #322 of 1,217 basic materials companies (top 27%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Ero Copper made a profit per share in its latest year after a loss the year before.

Profits growing faster than sales. Since 2022: revenue +84%, operating profit +108%.

Since 2022, Ero Copper's revenue grew 84% while operating profit grew 108%: each extra dollar of sales is adding more profit.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Wide margins. Operating margin 34% (12 months to Dec 2025) vs a peer median of 7.6%.Operating margin 34% vs peers 7.6%.

Ero Copper keeps 34% of revenue as operating profit, more than 93% of peers (median 7.6%).

Questions investors ask about Ero Copper

Is Ero Copper getting weaker?

Its latest SEC filing (Mar 30, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 11.3 points to 34.4%. Its overall score is 64/100, up 1 since Oct 28, 2026.

How is Ero Copper valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 1,371 basic materials peers. Earnings yield 8.7% vs a peer median of 3.6% (stronger than 82% of peers).Earnings yield 8.7% vs peers 3.6% (stronger than 82% of peers).

Is Ero Copper growing?

Yes, faster than most of its peers. Growth scores 97/100 against 1,371 basic materials peers. Revenue growth 67.1% vs a peer median of 3.4% (stronger than 95% of peers).Revenue growth 67.1% vs peers 3.4% (stronger than 95% of peers).

How profitable is Ero Copper?

More profitable than most of its peers. Profitability scores 91/100 against 1,371 basic materials peers. Return on assets 13.7% vs a peer median of 2.5% (stronger than 94% of peers).Return on assets 13.7% vs peers 2.5% (stronger than 94% of peers).

How risky is Ero Copper?

Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Beta 1.62 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.62 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

470.3M USD

785.8M USD

+67.1%

Net income (12 months)

−68.5M USD

263.7M USD

turned positive

Operating margin

23.2%

34.4%

+11.3 pts

Free cash flow (12 months)

−183.5M USD

132.4M USD

turned positive

Debt

602.2M USD

607.1M USD

+0.8%

Cash

50.4M USD

105.4M USD

+109.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

65.1%

43.9%

36.7%

38.4%

43.9%

▲ 5.5 pts

Operating margin

55.6%

30.4%

22.3%

23.2%

34.4%

▲ 11 pts

Net margin

41.0%

23.9%

21.7%

-14.6%

33.6%

▲ 48 pts

Return on assets (ROA)

29.1%

8.6%

6.1%

-4.7%

13.7%

▲ 18 pts

Return on equity (ROE)

51.2%

18.9%

11.5%

-11.7%

28.2%

▲ 40 pts

Free cash flow margin

39.9%

-32.7%

-66.5%

-39.0%

16.8%

▲ 56 pts

Current ratio

1.70×

3.04×

1.15×

0.67×

1.06×

▲ 58%

Quick ratio

1.49×

2.80×

0.90×

0.47×

0.65×

▲ 38%

Debt to equity

0.15×

0.78×

0.53×

1.03×

0.65×

▼ 37%

Interest coverage

22.38×

3.91×

3.69×

6.37×

8.11×

▲ 27%