Latest Ratios: P/E Ratio 38.5x · EV/EBITDA 21.8x · ROE 42.6%. (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 | $168.5B | $118.8B | $69.7B | $64.4B | $44.4B | $45.4B | $47.9B | $31.3B | $22.6B | $34.9B | $23.5B |
| Enterprise Value | $171.6B | $121.9B | $73.5B | $70.2B | $49.5B | $49.9B | $53.3B | $37.3B | $27.8B | $39.9B | $28.9B |
| P/E Ratio → | 38.54 | 27.06 | 21.07 | 26.51 | 16.86 | 13.38 | 30.54 | 21.06 | 14.64 | 48.05 | 30.40 |
| P/S Ratio | 12.55 | 8.85 | 6.10 | 6.50 | 4.42 | 4.15 | 6.00 | 4.29 | 3.19 | 5.25 | 4.37 |
| P/B Ratio | 15.24 | 10.70 | 7.55 | 8.60 | 5.46 | 5.53 | 6.59 | 4.56 | 3.42 | 5.68 | 4.01 |
| P/FCF | 49.17 | 34.68 | 20.54 | 25.10 | 23.97 | 13.36 | 21.87 | 25.96 | 20.33 | 36.63 | — |
| P/OCF | 35.45 | 25.01 | 15.77 | 18.01 | 15.86 | 10.58 | 17.22 | 16.35 | 10.13 | 17.66 | 25.48 |
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 | — | 9.09 | 6.42 | 7.10 | 4.92 | 4.56 | 6.67 | 5.12 | 3.91 | 5.99 | 5.38 |
| EV / EBITDA | 21.80 | 15.49 | 11.48 | 13.97 | 9.46 | 7.26 | 13.67 | 10.61 | 7.81 | 12.05 | 12.94 |
| EV / EBIT | 24.51 | 17.05 | 12.91 | 16.40 | 10.78 | 8.24 | 17.11 | 13.49 | 9.68 | 15.28 | 18.70 |
| EV / FCF | — | 35.58 | 21.64 | 27.39 | 26.69 | 14.67 | 24.31 | 30.99 | 24.92 | 41.83 | — |
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 | 56.7% | 56.7% | 49.7% | 43.6% | 45.4% | 56.6% | 40.7% | 39.6% | 42.0% | 40.6% | 30.8% |
| Operating Margin | 52.2% | 52.2% | 48.6% | 42.4% | 44.1% | 55.5% | 39.1% | 37.8% | 40.6% | 39.4% | 29.2% |
| Net Profit Margin | 32.3% | 32.3% | 29.5% | 24.5% | 26.3% | 31.1% | 19.7% | 20.4% | 21.7% | 10.9% | 14.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 42.6% | 42.6% | 40.4% | 31.0% | 32.3% | 43.9% | 22.2% | 22.1% | 24.2% | 12.1% | 13.9% |
| ROA | 21.6% | 21.6% | 19.1% | 14.3% | 14.8% | 19.3% | 9.4% | 9.6% | 10.9% | 5.4% | 6.0% |
| ROIC | 38.6% | 38.6% | 31.6% | 23.7% | 25.7% | 36.0% | 18.3% | 16.8% | 18.9% | 17.6% | 10.6% |
| ROCE | 39.2% | 39.2% | 34.9% | 26.7% | 27.6% | 38.4% | 20.5% | 19.5% | 22.3% | 21.1% | 13.2% |
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 | 0.67 | 0.67 | 0.76 | 0.94 | 0.87 | 0.91 | 1.03 | 1.16 | 0.90 | 0.97 | 1.01 |
| Debt / EBITDA | 0.94 | 0.94 | 1.09 | 1.40 | 1.36 | 1.09 | 1.93 | 2.27 | 1.68 | 1.80 | 2.66 |
| Net Debt / Equity | — | 0.28 | 0.40 | 0.79 | 0.62 | 0.54 | 0.73 | 0.88 | 0.77 | 0.81 | 0.92 |
| Net Debt / EBITDA | 0.40 | 0.40 | 0.58 | 1.17 | 0.96 | 0.65 | 1.37 | 1.72 | 1.44 | 1.50 | 2.42 |
| Debt / FCF | — | 0.91 | 1.10 | 2.29 | 2.71 | 1.31 | 2.44 | 5.03 | 4.59 | 5.20 | — |
| Interest Coverage | 19.37 | 19.37 | 17.04 | 13.11 | 13.49 | 16.95 | 8.49 | 8.12 | 10.34 | 8.53 | 5.32 |
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 | 3.89 | 3.89 | 2.75 | 3.19 | 4.20 | 2.73 | 3.48 | 2.83 | 2.62 | 2.71 | 2.57 |
| Quick Ratio | 3.40 | 3.40 | 2.28 | 2.46 | 3.38 | 2.30 | 2.79 | 2.11 | 1.77 | 1.82 | 1.56 |
| Cash Ratio | 2.29 | 2.29 | 1.56 | 1.26 | 1.84 | 1.55 | 1.87 | 1.36 | 0.87 | 0.90 | 0.60 |
| Asset Turnover | — | 0.63 | 0.61 | 0.59 | 0.58 | 0.60 | 0.47 | 0.44 | 0.49 | 0.48 | 0.41 |
| Inventory Turnover | 5.50 | 5.50 | 5.48 | 5.48 | 5.41 | 4.88 | 4.99 | 4.12 | 3.98 | 3.79 | 3.68 |
| Days Sales Outstanding | — | 55.01 | 39.71 | 45.30 | 53.54 | 48.29 | 51.96 | 45.68 | 50.02 | 53.56 | 45.36 |
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 | 1.5% | 2.1% | 2.3% | 4.8% | 6.1% | 5.4% | 2.4% | 4.1% | 4.8% | 1.3% | 0.6% |
| Payout Ratio | 57.3% | 57.3% | 48.5% | 127.5% | 102.6% | 72.8% | 73.8% | 85.7% | 70.1% | 62.6% | 17.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 3.7% | 4.7% | 3.8% | 5.9% | 7.5% | 3.3% | 4.7% | 6.8% | 2.1% | 3.3% |
| FCF Yield | 2.0% | 2.9% | 4.9% | 4.0% | 4.2% | 7.5% | 4.6% | 3.9% | 4.9% | 2.7% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% |
| Total Shareholder Yield | 1.5% | 2.1% | 2.3% | 4.8% | 6.1% | 5.4% | 2.4% | 4.1% | 4.8% | 1.3% | 0.9% |
| Shares Outstanding | — | $838M | $786M | $786M | $773M | $773M | $773M | $773M | $773M | $773M | $774M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SCCO stock.
Southern Copper Corporation's current P/E ratio is 38.5x. The historical average is 20.8x. This places it at the 90th percentile of its historical range.
Southern Copper Corporation's current EV/EBITDA is 21.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Southern Copper Corporation's return on equity (ROE) is 42.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 28.8%.
Based on historical data, Southern Copper Corporation is trading at a P/E of 38.5x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Southern Copper Corporation's current dividend yield is 1.47% with a payout ratio of 57.3%.
Southern Copper Corporation has 56.7% gross margin and 52.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Southern Copper Corporation's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Copper price cyclicality and Peru social friction
Metrics are mathematically derived from official filings.
Margin Expansion Driven by Cost Advantage
Gross margin expanded to 62.0% in Q2 2026 from 53.1% a year earlier, per recent financial statements, reflecting low-cost operations and by-product credits that bolster profitability.
The sequential improvement in gross margin from 50.2% in Q1 2025 to 62.0% in Q2 2026 suggests that the company is capturing more value from copper price strength than peers, likely due to its first-quartile cost position and integrated smelting. Operating margin of 61.2% in Q2 2026, up from 52.0% a year earlier, indicates that overhead remains lean, but investors should monitor whether this level is sustainable if copper prices correct, given the high fixed-cost base.
ROIC Nearly Doubles on Copper Upswing
ROIC climbed to 13.2% in Q2 2026 from 8.9% a year earlier, as reported in financial statements, indicating improved capital efficiency driven by margin expansion rather than asset turnover.
The rise in ROIC from 6.7% in Q1 2024 to 13.2% in Q2 2026 reflects the cyclical upswing in copper prices, but the underlying driver is margin expansion, as asset turnover remained stable around 0.16-0.20. This suggests that the company is not generating additional returns from asset efficiency but rather from pricing power and cost control. If copper prices normalize, ROIC could revert toward the mid-single digits, as seen in 2024, unless the company successfully brings new projects online to grow the asset base.
Working Capital Efficiency Improves with Cycle
Cash conversion cycle shortened to 50 days in Q2 2026 from 65 days a year earlier, per balance sheet data, reflecting faster collection and lower inventory days, though DPO remains stable.
The reduction in CCC from 73 days in Q4 2024 to 50 days in Q2 2026 is driven by a decline in DSO from 47 to 43 days and DIO from 65 to 56 days, while DPO hovered around 50 days. This suggests that the company is managing receivables and inventory more tightly during the upcycle, but the improvement may be partly due to higher copper prices inflating revenue and receivables. Investors should watch whether DSO and DIO revert to historical averages when prices soften, as working capital swings are typical in commodity businesses.
Leverage Declines Despite Higher Debt
Debt-to-equity fell to 0.67 in Q2 2026 from 0.92 in Q2 2024, as reported in balance sheet data, while interest coverage improved to 29.8x, indicating a strengthening balance sheet.
The improvement in D/E is driven by equity growth outpacing debt accumulation, as total debt rose to $8.5B but equity expanded faster due to retained earnings and higher copper prices. Interest coverage of 29.8x in Q2 2026, up from 15.3x in Q1 2024, suggests that debt service is highly comfortable, but the reported D/E may understate true leverage if environmental reclamation liabilities or intercompany financing with Grupo México are not fully captured. The fortress-like balance sheet provides a buffer against price downturns, but investors should monitor any off-balance-sheet obligations.
Liquidity Buffer Strengthens to Record Levels
Current ratio improved to 5.06 in Q2 2026 from 2.75 in Q4 2024, per balance sheet data, with cash surging to $5.7B, indicating a robust liquidity cushion.
The current ratio of 5.06 and quick ratio of 4.56 in Q2 2026 suggest that the company can easily cover short-term obligations, even under severe stress scenarios. The cash balance of $5.7B, up from $1.3B in Q2 2024, provides significant flexibility for dividends, capex, or opportunistic acquisitions. However, the high liquidity may also indicate that the company is not deploying capital efficiently, as the return on cash is minimal, and investors should monitor whether this cash is eventually returned to shareholders or invested in growth projects.
Misapplied Metric: P/E on Cyclical Earnings
The trailing P/E of 41.2x overstates valuation because it is based on trough earnings, while forward P/E of 25.9x better reflects normalized earnings, per current valuation multiples.
The most commonly misapplied ratio for SCCO is the trailing P/E, which is distorted by the cyclicality of copper prices. At 41.2x, it appears expensive, but this is because TTM earnings are depressed relative to the current upcycle. The forward P/E of 25.9x is more indicative of the market's expectation for sustained earnings, but even this may be misleading if copper prices correct. A better metric is EV/EBITDA, which at 23.3x TTM and 17.7x forward, still suggests a premium to peers like FCX (12.96x) and TECK (13.48x), reflecting the market's pricing of SCCO's reserve life and low-cost position. Investors should use a mid-cycle earnings estimate or a commodity price scenario analysis to assess valuation rather than relying on a single P/E multiple.