ERO

MKT CAP:$3B

Ero Copper Corp.

Market Cap

$3B

Basic Materials·Copper·🇨🇦 Canada·NYSE

Materials·Copper·🇨🇦·NYSE

Stock Price

$27.31-$1.74 (-5.99%)

Apr 24, 2026

Company Details

Ero Copper Corp., a base metals mining company, engages in the exploration, development, and production of mining projects in Brazil. It engages in the production and sale of copper concentrate from the MCSA Mining Complex located within th...

CEO

Makko DeFilippo

IPO Date

Oct 20, 2017

Website

www.erocopper.com

Key Metrics TTM

Revenue

$690M

+72.2% YoY

Net Income

$56M

EPS (Diluted)

$0.53

Free Cash Flow

-$13M

Revenue / Share

$6.59

Gross Margin

45.9%

Operating Margin

36.5%

Net Margin

8.1%

FCF Margin

-1.8%

P/S

4.1x

P/E

50.3x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Dec 30, 2025

$800MEPS $2.58

Q4 2025

Mar 13, 2026

$325M+165.3%EPS $0.75

Q1 2025

May 5, 2025

$125MEPS $0.77

Q4 2024

Mar 6, 2025

$123MEPS -$0.47

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 16	$0	$0	-$108.0K
Q3 16	$0	$0	-$235.0K
Q3 19	$61M	$21M	$34M
Q1 21	$123M	$83M	$72M
Q1 22	$110M	$61M	$48M
Q2 23	$106M	$39M	$20M
Q2 24	$117M	$43M	$15M
Q4 24	$123M	$52M	$52M
Q1 25	$125M	$56M	$42M
Q4 25	$325M	$166M	$143M

Valuation

Quarter	P/S	P/E
Q2 16	—	—
Q3 16	—	—
Q3 19	—	—
Q1 21	15.3x	58.9x
Q1 22	9.6x	28.0x
Q2 23	7.0x	21.6x
Q2 24	6.2x	46.0x
Q4 24	6.2x	—
Q1 25	6.0x	352.9x
Q4 25	4.1x	50.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 16	-$108.0K	-$108.0K
Q3 16	-$20.0K	-$20.0K
Q3 19	$30M	-$95.0K
Q1 21	$62M	$36M
Q1 22	$44M	-$11M
Q2 23	$55M	-$71M
Q2 24	$15M	-$61M
Q4 24	$61M	-$16M
Q1 25	$65M	$6M
Q4 25	$134M	$58M

Capital Expenditures

Quarter	CapEx
Q2 16	$0
Q3 16	$0
Q3 19	$30M
Q1 21	$26M
Q1 22	$55M
Q2 23	$127M
Q2 24	$75M
Q4 24	$77M
Q1 25	$60M
Q4 25	$76M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+57691.0%
Q2 23	—	+36445.5%
Q2 24	+93.1%	+287.5%
Q4 24	-0.7%	+37.8%
Q1 25	+13.5%	+32.9%
Q4 25	+205.8%	+112.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 16	$0	—
Q3 16	$0	—
Q3 19	$1M	2.2%
Q1 21	$2M	1.9%
Q1 22	$2M	1.8%
Q2 23	$5M	4.6%
Q2 24	$6M	5.2%
Q4 24	-$7M	-6.1%
Q1 25	$1M	0.9%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q2 16	$100.0K	$8.0K	—
Q3 16	$235.0K	—	—
Q3 19	$8M	—	—
Q1 21	—	—	$11M
Q1 22	—	—	$13M
Q2 23	—	—	$18M
Q2 24	$17M	—	—
Q4 24	$6M	—	—
Q1 25	$12M	—	—
Q4 25	—	—	$23M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$365M	$100M	$465M
Q2 22	$329M	$101M	$430M
Q3 22	$210M	$150M	$360M
Q4 22	$178M	$140M	$317M
Q1 23	$210M	$27M	$237M
Q2 23	$124M	$56M	$180M
Q3 23	$45M	$43M	$88M
Q4 23	$112M	$0	$112M
Q1 24	$52M	$0	$52M
Q2 24	$45M	$0	$45M
Q3 24	$20M	$0	$20M
Q4 24	$50M	$0	$50M
Q1 25	$81M	$0	$81M
Q2 25	$68M	$0	$68M
Q3 25	$66M	$0	$66M
Q4 25	$105M	$0	$105M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 16	23M	—	—
Q3 16	23M	0.0%	—
Q3 19	91M	+292.2%	—
Q1 21	93M	+1.7%	—
Q1 22	92M	-0.9%	+295.4%
Q2 23	94M	+1.7%	+302.2%
Q2 24	103M	+10.1%	+12.9%
Q4 24	104M	+0.4%	+11.4%
Q1 25	104M	+0.4%	+12.9%
Q4 25	105M	+0.8%	+11.8%

Shares Outstanding