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Southern Copper (SCCO) USD

Southern Copper Corporation is a mining company that extracts, smelts, and refines copper and other minerals such as molybdenum, zinc, silver, gold, and lead. It operates open-pit and underground mines, concentrators, smelters, refineries, and rod plants in Peru and Mexico.

At a glance: strengths & risks
✓Revenue growing (+39% y/y, Q3 2026)✓Profit growing (+62% y/y, Q3 2026)✓Margins improving (59%→65%, Q3 2026)✓Low leverage (0.3x EBITDA)

Sector: Copper mining

Geography: Peru, Mexico

COMM_SCCO

Price chart

181.87 USDDay -0.94%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
181.87 USD · -0.94%
Market cap
155.0 bn USD

Growth

Δ revenue y/y
39.1%
Δ EBITDA y/y
53.8%

Multiples

P/E (LTM)
24.3x
3y avg: 25.7x
P/B (FY)
14.0x
P/E (ann.)
21.5x
EV/EBITDA (LTM)
14.1x
3y avg: 14.1x
EV/EBITDA (ann.)
12.7x

Cash return

Dividend yield
2.2%
FCF yield (LTM)
3.9%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-18.8%
↓ details

Liquidity

Daily turnover (listing)
52.7 mln USD

Shares: yahoo_fundamentals_timeseries/SCCO

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-09-30Q3 2026 (3M)PARTIAL4.7
y/y 39.1%
2.8
y/y 59.2%
0.2
y/y 8.3%
3.0
y/y 53.8%
1.8
y/y 62.2%
2.2—25.6
y/y 25.9%
13.5
y/y 29.3%
18.4%≈ -0.4Yahoo Finance
2026-06-30Q2 2026 (3M)OK4.3
y/y 40.6%
2.6
y/y 65.3%
0.2
y/y 12.9%
2.9
y/y 59.3%
1.7
y/y 71.5%
2.0-0.424.1
y/y 23.4%
12.6
y/y 26.5%
54.9%-0.4Yahoo Finance
2026-03-31Q1 2026 (3M)OK4.3
y/y 36.2%
2.5
y/y 61.5%
0.2
y/y 0.8%
2.7
y/y 53.8%
1.6
y/y 66.7%
1.7-0.421.9
y/y 10.8%
11.8
y/y 23.2%
55.4%2.1Link
2025-12-31Q4 2025 (3M)OK3.9
y/y 39.0%
2.1
y/y 61.4%
0.2
y/y 7.7%
2.3
y/y 53.9%
1.3
y/y 64.7%
1.5-0.421.4
y/y 14.3%
11.0
y/y 20.4%
40.5%2.5Link
2025-09-30Q3 2025 (3M)OK3.4
y/y 15.2%
1.8
y/y 22.0%
0.2
y/y -2.5%
2.0
y/y 18.8%
1.1
y/y 23.5%
1.6-0.320.3
y/y 10.4%
10.4
y/y 17.1%
14.5%2.9Link
2025-06-30Q2 2025 (3M)OK3.1
y/y -2.2%
1.6
y/y -1.3%
0.2
y/y -1.6%
1.8
y/y -1.3%
1.0
y/y 2.4%
1.0-0.219.6
y/y 10.0%
10.0
y/y 17.6%
40.0%3.4Link
2025-03-31Q1 2025 (3M)OK3.1
y/y 20.1%
1.5
y/y 29.1%
0.2
y/y 7.1%
1.8
y/y 25.8%
0.9
y/y 28.5%
0.7-0.319.8
y/y 17.9%
9.6
y/y 26.9%
40.5%3.6Link
2024-12-31Q4 2024 (3M)OK2.8
y/y 21.3%
1.3
y/y 50.5%
0.2
y/y 2.9%
1.5
y/y 41.3%
0.8
y/y 78.0%
1.4-0.218.7
y/y 11.9%
9.2
y/y 23.6%
37.5%3.5Link
2024-09-30Q3 2024 (3M)OK2.9
y/y 17.0%
1.5
y/y 35.6%
0.2
y/y 0.3%
1.7
y/y 29.8%
0.9
y/y 44.7%
1.4-0.218.4
y/y 8.5%
8.9
y/y 15.2%
13.8%4.0Link
2024-06-30Q2 2024 (3M)OK3.1
y/y 35.5%
1.6
y/y 78.5%
0.2
y/y 0.2%
1.8
y/y 63.7%
1.0
y/y 73.5%
1.0-0.317.8
y/y 4.9%
8.5
y/y 7.5%
47.6%4.8Link
2024-03-31Q1 2024 (3M)OK2.6
y/y -6.9%
1.2
y/y -12.1%
0.2
y/y 2.6%
1.4
y/y -10.2%
0.7
y/y -9.4%
0.7-0.216.8
y/y -3.1%
7.5
y/y -7.2%
39.5%5.4Link
2023-12-31Q4 2023 (3M)OK2.3
y/y —
0.9
y/y —
0.2
y/y —
1.1
y/y —
0.4
y/y —
0.5-0.316.7
y/y —
7.4
y/y —
32.1%5.3Link
2023-09-30Q3 2023 (3M)OK2.5
y/y —
1.1
y/y —
0.2
y/y —
1.3
y/y —
0.6
y/y —
1.0-0.317.0
y/y —
7.7
y/y —
10.6%4.8Link
2023-06-30Q2 2023 (3M)OK2.3
y/y —
0.9
y/y —
0.2
y/y —
1.1
y/y —
0.5
y/y —
0.8-0.316.9
y/y —
7.9
y/y —
27.4%4.9Link
2023-03-31Q1 2023 (3M)OK2.8
y/y —
1.4
y/y —
0.2
y/y —
1.6
y/y —
0.8
y/y —
1.2-0.217.3
y/y —
8.1
y/y —
—4.6Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)96
Long-term debt (incl. LT leases)8 529
− Cash & equivalents7 330
Net debt1 294

Net debt / LTM EBITDA: 0.1x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

01 0002 0003 0004 0005 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q3

Year-over-year change

-20%0%20%40%60%80%2024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q3

Cash flow

Cash flow (OCF + ICF; OCF − capex when ICF is unavailable) ($ mln)

05001 0001 5002 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q3

Net debt / cash ($ mln)

-2 00002 0004 0006 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q3

Profit and cash

Profit is cash-backed
In a typical year of 2023–2025 operating cash flow came to 1.30x of reported net profit; after capex, 1.00x.
year202320242025
cash flow / profit1.47x1.30x1.09x
accruals, % of assets-6.8%-5.5%-1.9%
Last twelve months (to 2026-09-30): 1.16x of profit came back as operating cash flow.
net debt / EBITDA 0.3x · capex 1.3x of depreciation · dividends 77% of free cash flow · share count +1.9% a year
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Copper

Proved reserves
512 717 mln copper pounds eq.
2025
Reserve life (R/P)
188.6 yrs
reserves ÷ annual output
Annual production
2 719 mln copper pounds eq.
2025

Production, mln copper pounds eq.

2 58420212 39420222 44120232 67520242 7192025

Proved reserves

YearReserves, mln copper pounds eq.
2025512 717
2024517 167
2023497 542
2021489 652

Production

YearProduction, mln copper pounds eq.per day, mln copper pounds eq.
2026654.35 * (3M)
−2.8%		7.17
20252 719
+1.7%		7.45
20242 675
+9.6%		7.33
20232 441
+1.9%		6.69
20222 394
−7.3%		6.56
20212 5847.08
2020665.81 * (3M)7.29

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Copper

Current 14 264spot vs LTM +9%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -18.8% ▲ +0.4 pp 1d

Main driver: Copper +8% vs LTM; revenue ×1.06 vs costs ×0.99; EBITDA 10 943→10 331; at 12.0× EV/EBITDA → -19%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, CHF3y vs LTM
Copper (rev)+81%14 263.9313 146.2711 295.28+8%+12%-14%
Silver (rev)+6%53.8768.2045.01-21%-18%-34%
Zinc (rev)+3%3 713.053 381.433 088.94+10%+13%-9%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue17 107
LTM EBITDA10 943
LTM cash costs (revenue − EBITDA)6 164
2 · Revenue projection
Revenue multiplier — spot×1.060 (+6%)
= Spot revenue18 138
Revenue multiplier — 3y price×0.863 (-14%)
= 3-year-price revenue14 770
3 · Costs projection
Cost multiplier — spot×0.994 (-1%)
= Spot cash costs6 124
Cost multiplier — 3y price×0.994 (-1%)
= 3-year-price cash costs6 124
4 · EBITDA projection (revenue − costs)
= Spot EBITDA12 015
= 3-year-price EBITDA8 647
Conservative EBITDA = min(spot, avg)10 331
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)12.0x
Target EV = EV/EBITDA × conservative EBITDA123 967
Net debt-370
Target market cap = EV − net debt124 338
Current market cap153 175

Upside = target market cap ÷ current − 1 = -18.8%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q12 6002 473+5.1%1 3991 232+13.5%
2024 Q23 1182 839+9.9%1 8171 633+11.3%
2024 Q32 9312 832+3.5%1 6631 595+4.3%
2024 Q42 7842 884-3.4%1 5221 656-8.1%
2025 Q13 1223 079+1.4%1 7591 844-4.6%
2025 Q23 0513 190-4.4%1 7931 844-2.7%
2025 Q33 3773 231+4.5%1 9771 869+5.7%
2025 Q43 8703 511+10.2%2 3412 121+10.4%
2026 Q14 2514 096+3.8%2 7062 634+2.7%
2026 Q24 2894 320-0.7%2 8562 843+0.5%
2026 Q34 6974 544+3.4%3 0403 045-0.2%

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +17% vs +16% the year before — a +1.8 pp move. 3-year CAGR —.
revenue growth by year: 2024 +16% · 2025 +17%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 11.6x · target 75th pct (3y) 14.4x · LTM avg 16.2x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Copper mining. Each peer is shown as it trades and re-priced onto this company's market (global) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
KGHM Polska Miedzglobal15.65.9x5.9x
Atalaya Miningglobal1.76.5x6.5x
Sandfire ResourcesAustralia6.16.7x6.6x
Amerigo Resourcesglobal0.86.6x6.6x
Antofagastaglobal40.67.0x7.0x
Lundin Miningglobal18.07.3x7.3x
Hudbay Mineralsglobal8.77.5x7.5x
Ero Copperglobal3.18.7x8.7x
Taseko Minesglobal2.610.2x10.2x
Freeport-McMoRanglobal92.610.9x10.9x
First Quantum Mineralsglobal20.314.5x14.5x
Group median7.3x7.3x
Group average8.3x8.3x
This companyglobal156.414.1x14.1x

Group median 7.3x as traded, 7.3x adjusted; this company 14.1x — a 94% premium.

Group average 8.3x as traded, 8.3x adjusted; against the average this company is at a 70% premium.

At the adjusted group median the market cap would be -50% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.7x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-23; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-111.087 USDEx-dividend: 1.087 USD per sharePaidYahoo Finance (ex-div)
2026-05-130.9783 USDEx-dividend: 0.9783 USD per sharePaidYahoo Finance (ex-div)
2026-02-100.9705 USDEx-dividend: 0.9705 USD per sharePaidYahoo Finance (ex-div)
2025-11-120.8658 USDEx-dividend: 0.8658 USD per sharePaidYahoo Finance (ex-div)
2025-08-150.7626 USDEx-dividend: 0.7626 USD per sharePaidYahoo Finance (ex-div)
2025-05-020.6607 USDEx-dividend: 0.6607 USD per sharePaidYahoo Finance (ex-div)
2025-02-110.6567 USDEx-dividend: 0.6567 USD per sharePaidYahoo Finance (ex-div)
2024-11-060.6576 USDEx-dividend: 0.6576 USD per sharePaidYahoo Finance (ex-div)
2024-08-090.5607 USDEx-dividend: 0.5607 USD per sharePaidYahoo Finance (ex-div)
2024-02-120.7476 USDEx-dividend: 0.7476 USD per sharePaidYahoo Finance (ex-div)
2023-11-070.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)
2023-08-080.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)
2023-05-080.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)
2023-02-130.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)
2022-11-080.4673 USDEx-dividend: 0.4673 USD per sharePaidYahoo Finance (ex-div)
2022-08-100.7009 USDEx-dividend: 0.7009 USD per sharePaidYahoo Finance (ex-div)
2022-05-161.1682 USDEx-dividend: 1.1682 USD per sharePaidYahoo Finance (ex-div)
2022-02-140.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)
2021-11-090.9345 USDEx-dividend: 0.9345 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Southern Copper (SCCO) — from primary filings.

Frequently asked questions

What is Southern Copper (SCCO)'s P/E ratio?
Southern Copper (SCCO) trades at a P/E of 24.3x (price to trailing 12-month earnings).
What is Southern Copper (SCCO)'s EV/EBITDA?
Southern Copper (SCCO) trades at 14.1x EV/EBITDA.
What is Southern Copper (SCCO)'s P/B ratio?
Southern Copper (SCCO) trades at a P/B of 14.0x.
What is Southern Copper (SCCO)'s dividend yield?
Southern Copper (SCCO)'s trailing 12-month dividend yield is 2.2%.
What is Southern Copper (SCCO)'s return on equity (ROE)?
Southern Copper (SCCO)'s ROE is 18.4%.
What is Southern Copper (SCCO)'s market capitalization?
Southern Copper (SCCO)'s market cap is 155.0 bn USD.

See also: The Cheapest Metals & Mining Stocks (2026): Copper, Steel, Silver by Valuation · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map