Présentation de l'entreprise
Nexa Resources S.A. operates globally within the basic materials sector, specifically focusing on the extraction and processing of industrial metals through its mining and smelting segments. The company generates revenue by producing metallic zinc, zamac, zinc oxide, and valuable by-products such as copper, lead, silver, gold, and sulfuric acid. With a market capitalization of $1.47B and annual revenue of $3.00B, Nexa Resources positions itself as a significant player in the other industrial metals and mining industry. These valuation and revenue figures indicate a substantial operational scale, suggesting that the company possesses the infrastructure and volume capacity to maintain a meaningful footprint in global supply chains for essential raw materials.
Santé financière
The company reported a total revenue of $3.00B over the trailing twelve months, generating a net income of $132.63M and an EBITDA of $660.36M. The significant gap between the $3.00B revenue and the $132.63M net income reveals a cost structure where operating expenses, including cost of goods sold, depreciation, and amortization, consume approximately 95.6% of gross revenue before reaching the bottom line. Free cash flow stands at $182.07M, which provides the firm with financial flexibility to fund capital expenditures for mine expansion or smelter upgrades without relying exclusively on external financing. Profitability is segmented across three key margins: a gross margin of 23.4%, an operating margin of 23.9%, and a profit margin of 4.4%. The gross margin indicates the efficiency of raw material extraction and initial processing, while the operating margin reflects the effectiveness of managing production costs and overhead. The lower profit margin demonstrates the substantial impact of non-operating expenses, interest, and taxes on the final bottom line. Regarding leverage, the company holds $521.56M in cash against $1.83B in total debt, resulting in a debt-to-equity ratio of 141.69, which characterizes a highly leveraged balance sheet. This high leverage implies that a significant portion of the company's operations and cash flows are dedicated to servicing debt obligations rather than generating new value. Liquidity is constrained by a current ratio of 0.87, indicating that current assets are insufficient to cover current liabilities without relying on asset sales or external financing. Return on equity is measured at 19.0%, while return on assets sits at 5.3%, revealing that management generates a relatively high return on shareholder capital but utilizes assets less efficiently compared to the equity base.
Évaluation de la valorisation
The stock trades with a trailing P/E ratio of 11.07 and a forward P/E of 3.97. The substantial difference between these two metrics implies that the market expects a significant expansion in earnings in the coming year, potentially driven by cyclical commodity price increases or operational efficiencies. The price-to-book ratio is 1.46, suggesting that the market values the company at a premium of 46% above its net tangible asset book value. Alternative valuation metrics such as a price-to-sales ratio of 0.49 and an EV/EBITDA of 4.63 suggest the stock is priced relatively low compared to its sales and earnings power, which is common in capital-intensive mining sectors. Price metrics show a 52-week high of $14.94 and a 52-week low of $4.44; without a specific current price provided in the facts, the valuation range remains bounded by these extremes, indicating potential volatility within a $10.50 spread. The beta value of 0.60 indicates that the stock's price volatility is significantly lower than the broader market, making it a less sensitive asset to general equity market fluctuations.
Growth & Income
Revenue growth for the trailing twelve months is reported at 21.9%, while earnings growth data is not available in the current reporting period. The absence of reported earnings growth figures prevents a direct comparison to revenue growth, but the robust revenue expansion suggests strong demand for zinc and by-products. Regarding income distribution, the company currently has a dividend yield of 1.2% with a payout ratio of 0.0%. A zero payout ratio indicates that the company retains all of its earnings rather than distributing them to shareholders, which aligns with the capital-intensive nature of mining where funds are often reinvested into growth initiatives. Consequently, Nexa Resources reinvests its earnings into operational growth and debt management rather than providing a sustainable current income stream for investors. The overall growth and income profile is characterized by high revenue expansion paired with a retention of earnings to support a highly leveraged balance sheet and future capital projects.