Financials Southern Copper Corporation

Equities

SCCO

US84265V1052

Specialty Mining & Metals

Market Closed - Nyse Other stock markets 04:00:02 2024-05-07 pm EDT			5-day change	1st Jan Change
115.1 ^USD	-1.49%		-0.35%	+35.08%

May. 01	Southern Copper Insider Sold Shares Worth $425,880, According to a Recent SEC Filing	MT
Apr. 26	Transcript : Southern Copper Corporation, Q1 2024 Earnings Call, Apr 26, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	32,840	50,343	47,707	46,687	66,542	89,888	-	-
Enterprise Value (EV) ¹	37,775	54,292	50,466	51,435	71,645	94,296	93,480	92,480
P/E ratio	22.1 x	32.1 x	14.1 x	17.7 x	27.4 x	27.7 x	26.4 x	27.8 x
Yield	3.77%	2.3%	5.19%	5.8%	4.65%	2.87%	3.41%	3.01%
Capitalization / Revenue	4.51 x	6.3 x	4.36 x	4.65 x	6.72 x	8.18 x	7.28 x	7.41 x
EV / Revenue	5.18 x	6.8 x	4.62 x	5.12 x	7.24 x	8.58 x	7.58 x	7.63 x
EV / EBITDA	10.7 x	14 x	7.36 x	9.59 x	14.2 x	15.4 x	12.3 x	14.6 x
EV / FCF	31.4 x	24.8 x	14.8 x	27.7 x	27.9 x	32.2 x	28.3 x	22 x
FCF Yield	3.19%	4.04%	6.74%	3.6%	3.58%	3.1%	3.53%	4.55%
Price to Book	4.82 x	6.97 x	5.85 x	5.78 x	8.97 x	10.7 x	9.37 x	8.85 x
Nbr of stocks (in thousands)	781,099	781,113	781,121	781,139	781,151	781,156	-	-
Reference price ²	42.04	64.45	61.07	59.77	85.18	115.1	115.1	115.1
Announcement Date	2/25/20	1/25/21	2/1/22	2/2/23	2/2/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,286	7,985	10,934	10,048	9,896	10,993	12,339	12,128
EBITDA ¹	3,527	3,869	6,853	5,365	5,030	6,104	7,620	6,351
EBIT ¹	2,753	3,121	6,065	4,436	4,192	5,174	6,361	6,407
Operating Margin	37.79%	39.08%	55.47%	44.15%	42.36%	47.07%	51.55%	52.83%
Earnings before Tax (EBT) ¹	2,426	2,746	5,697	4,264	3,956	5,763	5,723	6,236
Net income ¹	1,486	1,570	3,387	2,638	2,425	3,506	3,458	3,524
Net margin	20.39%	19.67%	30.98%	26.26%	24.51%	31.89%	28.03%	29.05%
EPS ²	1.900	2.009	4.345	3.375	3.108	4.147	4.353	4.133
Free Cash Flow ¹	1,204	2,191	3,400	1,854	2,564	2,924	3,303	4,210
FCF margin	16.53%	27.44%	31.1%	18.45%	25.92%	26.6%	26.77%	34.71%
FCF Conversion (EBITDA)	34.15%	56.64%	49.62%	34.56%	50.99%	47.9%	43.35%	66.29%
FCF Conversion (Net income)	81.06%	139.53%	100.38%	70.27%	105.74%	83.4%	95.52%	119.48%
Dividend per Share ²	1.584	1.485	3.167	3.464	3.959	3.308	3.924	3.461
Announcement Date	2/25/20	1/25/21	2/1/22	2/2/23	2/2/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	2,824	2,764	2,307	2,157	2,820	2,794	2,301	2,506	2,296	2,600	2,555	2,674	2,747	-	-
EBITDA ¹	1,726	1,678	1,018	1,018	1,648	1,568	1,110	1,291	1,056	1,418	1,293	1,354	1,508	-	-
EBIT ¹	1,531	1,470	808.5	825.9	1,370	1,354	900.7	1,069	868.7	1,190	961.5	1,016	1,117	-	-
Operating Margin	54.21%	53.19%	35.05%	38.29%	48.58%	48.45%	39.15%	42.67%	37.84%	45.76%	37.63%	37.99%	40.67%	-	-
Earnings before Tax (EBT) ¹	1,432	1,399	731.5	749.5	1,364	1,303	847.9	1,017	787.7	-	1,003	1,063	1,217	-	-
Net income ¹	833	784.7	432.3	519	902.4	813.2	547.5	619.5	445	736	608	644	736	-	-
Net margin	29.5%	28.39%	18.74%	24.06%	32%	29.11%	23.8%	24.72%	19.38%	28.31%	23.8%	24.09%	26.8%	-	-
EPS ²	1.069	1.010	0.5542	0.6631	1.158	1.039	0.7027	0.7918	0.5740	0.9402	0.8907	0.8808	0.9501	0.9105	0.8610
Dividend per Share ²	0.9897	0.9897	0.7423	0.7423	0.9897	0.9897	0.9897	0.9897	0.9897	0.7918	0.3406	0.3616	0.4007	-	-
Announcement Date	2/1/22	5/3/22	7/27/22	10/28/22	2/2/23	4/27/23	7/27/23	10/25/23	2/2/24	4/25/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	4,935	3,950	2,759	4,747	5,103	4,408	3,593	2,592
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.399 x	1.021 x	0.4026 x	0.8848 x	1.015 x	0.7222 x	0.4715 x	0.4081 x
Free Cash Flow ¹	1,204	2,191	3,400	1,854	2,565	2,924	3,303	4,210
ROE (net income / shareholders' equity)	22.2%	22.4%	44.2%	32.5%	31.3%	38.6%	41.7%	39.1%
ROA (Net income/ Total Assets)	9.68%	9.5%	19.3%	14.8%	14.3%	20.2%	19.5%	11.3%
Assets ¹	15,347	16,537	17,570	17,787	17,001	17,356	17,730	31,191
Book Value Per Share ²	8.720	9.250	10.40	10.30	9.500	10.80	12.30	13.00
Cash Flow per Share ²	2.450	3.560	5.500	3.590	4.570	4.760	5.990	5.380
Capex ¹	708	592	892	949	1,009	1,003	1,126	1,068
Capex / Sales	9.71%	7.42%	8.16%	9.44%	10.19%	9.12%	9.12%	8.81%
Announcement Date	2/25/20	1/25/21	2/1/22	2/2/23	2/2/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Southern Copper Corporation

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

115.1 USD

Average target price

82.92 USD

Spread / Average Target

-27.94%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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