Latest Ratios: P/E Ratio 10.6x · EV/EBITDA 15.3x · ROE 20.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.3B | $7.1B | $2.9B | $3.9B | $1.9B | $1.9B | $3.1B | $3.8B | $4.1B | $3.6B | $2.9B |
| Enterprise Value | $8.5B | $7.2B | $3.1B | $3.7B | $2.4B | $2.6B | $3.4B | $4.3B | $3.8B | $3.5B | $2.8B |
| P/E Ratio → | 10.60 | 8.98 | 7.25 | 194.88 | 15.20 | 14.94 | — | — | — | 58.67 | — |
| P/S Ratio | 4.82 | 4.08 | 2.53 | 4.70 | 2.29 | 2.06 | 4.58 | 4.42 | 3.53 | 2.81 | 2.68 |
| P/B Ratio | 1.96 | 1.66 | 0.82 | 1.22 | 0.60 | 0.73 | 1.11 | 1.29 | 1.36 | 1.17 | 0.94 |
| P/FCF | 79.99 | 67.76 | 19.73 | — | — | — | 43.68 | — | — | — | — |
| P/OCF | 14.45 | 12.24 | 6.02 | 17.05 | 45.41 | — | 21.74 | 55.52 | — | 58.80 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.19 | 2.66 | 4.43 | 2.88 | 2.88 | 5.07 | 4.92 | 3.29 | 2.71 | 2.65 |
| EV / EBITDA | 15.27 | 12.98 | 5.15 | 16.39 | — | — | — | 24.00 | 12.25 | 10.68 | 9.07 |
| EV / EBIT | 15.34 | 7.07 | 6.86 | — | 14.10 | 16.78 | — | — | 62.58 | 28.40 | 24.33 |
| EV / FCF | — | 69.49 | 20.73 | — | — | — | 48.43 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.2% | 45.2% | 48.8% | 11.1% | 7.4% | 9.7% | 3.5% | 38.2% | 15.8% | 23.1% | 20.2% |
| Operating Margin | 32.1% | 32.1% | 38.6% | 2.6% | -4.7% | -7.3% | -12.0% | -6.3% | 4.6% | 8.3% | 10.9% |
| Net Profit Margin | 45.2% | 45.2% | 34.9% | 2.4% | 73.1% | -29.3% | -20.1% | -1.4% | -0.4% | 4.8% | -30.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.0% | 20.0% | 12.0% | 0.6% | 21.1% | -9.9% | -4.7% | -0.4% | -0.1% | 2.0% | -10.0% |
| ROA | 14.1% | 14.1% | 8.4% | 0.4% | 13.3% | -6.2% | -3.4% | -0.3% | -0.1% | 1.4% | -7.3% |
| ROIC | 10.2% | 10.2% | 9.1% | 0.4% | -0.8% | -1.5% | -1.9% | -1.3% | 1.4% | 2.7% | 2.6% |
| ROCE | 11.1% | 11.1% | 10.3% | 0.5% | -1.0% | -1.8% | -2.3% | -1.5% | 1.4% | 2.8% | 3.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.18 | 0.22 | 0.23 | 0.44 | 0.20 | 0.22 | 0.03 | 0.03 | 0.02 |
| Debt / EBITDA | 1.27 | 1.27 | 1.05 | 3.17 | — | — | — | 3.62 | 0.30 | 0.30 | 0.18 |
| Net Debt / Equity | — | 0.04 | 0.04 | -0.07 | 0.15 | 0.29 | 0.12 | 0.15 | -0.09 | -0.04 | -0.01 |
| Net Debt / EBITDA | 0.32 | 0.32 | 0.25 | -0.99 | — | — | — | 2.43 | -0.87 | -0.37 | -0.08 |
| Debt / FCF | — | 1.72 | 1.00 | — | — | — | 4.75 | — | — | — | — |
| Interest Coverage | 17.57 | 17.57 | 9.64 | -0.71 | 3.54 | 3.48 | -1.38 | -2.75 | 1.60 | 3.52 | 4.78 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.01 | 2.01 | 1.75 | 1.31 | 1.63 | 0.88 | 1.63 | 1.15 | 1.91 | 1.35 | 1.13 |
| Quick Ratio | 1.87 | 1.87 | 1.58 | 1.14 | 1.40 | 0.77 | 1.42 | 0.97 | 1.57 | 1.09 | 0.86 |
| Cash Ratio | 0.92 | 0.92 | 1.00 | 0.50 | 0.67 | 0.45 | 0.65 | 0.37 | 0.92 | 0.41 | 0.18 |
| Asset Turnover | — | 0.29 | 0.23 | 0.18 | 0.18 | 0.20 | 0.17 | 0.21 | 0.28 | 0.29 | 0.25 |
| Inventory Turnover | 11.97 | 11.97 | 7.43 | 9.57 | 8.64 | 9.43 | 8.44 | 5.47 | 7.23 | 7.41 | 7.07 |
| Days Sales Outstanding | — | 111.59 | 82.46 | 113.18 | 110.61 | 103.72 | 135.24 | 132.97 | 45.87 | 94.53 | 98.49 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 0.6% | 0.5% | 1.0% | — | — | 0.6% | 0.6% | 0.6% | 0.3% |
| Payout Ratio | — | — | 4.6% | 93.4% | 3.1% | — | — | — | — | 36.3% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.4% | 11.1% | 13.8% | 0.5% | 6.6% | 6.7% | — | — | — | 1.7% | — |
| FCF Yield | 1.3% | 1.5% | 5.1% | — | — | — | 2.3% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.6% | 0.5% | 1.0% | 0.0% | 0.0% | 0.6% | 0.6% | 0.6% | 0.3% |
| Shares Outstanding | — | $254M | $254M | $254M | $254M | $254M | $254M | $254M | $254M | $254M | $254M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BVN stock.
Compañía de Minas Buenaventura S.A.A.'s current P/E ratio is 10.6x. The historical average is 30.9x. This places it at the 14th percentile of its historical range.
Compañía de Minas Buenaventura S.A.A.'s current EV/EBITDA is 15.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.6x.
Compañía de Minas Buenaventura S.A.A.'s return on equity (ROE) is 20.0%. The historical average is 12.6%.
Based on historical data, Compañía de Minas Buenaventura S.A.A. is trading at a P/E of 10.6x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Compañía de Minas Buenaventura S.A.A. has 45.2% gross margin and 32.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Compañía de Minas Buenaventura S.A.A.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Peruvian political and social instability
Margin Expansion Masks Equity Reliance
BVN's net margin of 44.9% in 2026Q2, per reported financials, appears inflated by equity-accounted income from Cerro Verde, which may not convert to cash, warranting scrutiny of underlying operating profitability.
Gross margin improved to 48.1% in 2026Q2 from 35.3% a year earlier, reflecting higher metal prices and byproduct credits, but operating margin of 42.0% suggests strong operational leverage. However, the near-parity between net and gross margins indicates that a significant portion of bottom-line earnings derives from non-operating equity income, which may not be recurring. Investors should monitor the sustainability of these margins if metal prices retreat or if associate distributions lag reported earnings.
ROIC Volatility Reflects Commodity Cycles
ROIC swung from 1.0% in 2024Q1 to 5.6% in 2026Q1, per quarterly data, indicating high sensitivity to metal prices and operational disruptions, with recent improvement driven by margin expansion rather than asset efficiency.
ROIC of 3.8% in 2026Q2 remains below the cost of capital, suggesting that while profitability is strong, capital efficiency is still recovering from prior lows. The improvement from 1.0% in 2024Q1 to 5.6% in 2026Q1 is largely attributable to higher margins, as asset turnover has remained low at 0.08-0.10. This implies that BVN's returns are cyclical and may not be compounding sustainably without further asset utilization gains or reserve replacement.
Working Capital Efficiency Improves with Cash Conversion
CCC turned negative at -8 days in 2025Q4, per financial statements, as DPO of 101 days exceeded DSO and DIO, indicating BVN is effectively financing operations with supplier credit, though volatility persists.
The cash conversion cycle has improved from 17 days in 2024Q2 to -8 days in 2025Q4, driven by a sharp increase in DPO to 179 days in 2024Q4, which may reflect extended payment terms or timing. However, DSO has risen to 87 days in 2026Q2, suggesting slower collections, while DIO remains low at 29 days, indicating efficient inventory management. The negative CCC in recent quarters suggests strong working capital management, but the volatility in DPO warrants monitoring for sustainability.
Minimal Leverage Provides Strategic Flexibility
Debt-to-equity fell to 0.15 in 2026Q2 from 0.22 in 2024Q1, per balance sheet data, while interest coverage improved to 5.31x, indicating a conservative capital structure that supports growth projects.
Total debt has remained stable around $692M, but equity growth has reduced leverage, with D/E now at 0.15, well below the peer average of 0.15-0.42. Interest coverage of 5.31x in 2026Q2, though down from 31.72x in 2026Q1, remains comfortable, but the volatility suggests earnings sensitivity to metal prices. The low leverage provides a buffer against commodity downturns and supports funding for San Gabriel without straining the balance sheet.
Liquidity Buffer Strengthens with Cash Build
Current ratio improved to 2.59 in 2026Q2 from 1.32 in 2024Q1, per financial statements, with cash quadrupling to $759M, providing ample coverage for short-term obligations and funding for capex.
The quick ratio of 2.43 indicates that even without inventory, BVN can cover current liabilities nearly 2.5 times, reflecting a strong liquidity position. Cash reserves have grown significantly, supported by robust operating cash flow, which reached $289.4M in 2026Q2. This liquidity buffer appears sufficient to withstand operational disruptions or commodity price declines, though the reliance on equity-accounted dividends for cash flow remains a risk.
P/E Misleads on Copper Exposure
BVN's P/E of 11.02, per current multiples, understates its copper exposure through Cerro Verde, as equity-accounted earnings are not fully reflected in the multiple, obscuring the true earnings power.
The market often values BVN as a gold miner, but its significant stake in Cerro Verde provides copper-driven earnings that are not captured in the P/E ratio. A sum-of-the-parts analysis, separating precious metals operations from the copper associate, would likely reveal a more accurate valuation. Investors should use EV/EBITDA adjusted for equity income or a NAV-based approach to avoid mispricing the company's diversified asset base.