ERO
Ero Copper Corp.
ERO's fundamentals are strong and it looks cheap: trading at 10x earnings, below its usual 18x. Analysts expect strong earnings growth, though they disagree widely on how much.
ERO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
ERO's revenue, profitability, cash flow and balance sheet are all currently healthy.
ERO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.1x | $29.76 | — |
| Cheap | 7.8x | $23.13 | -22% |
| Current | 10x | $29.76 | — |
| Fair | 18x | $51.82 | +74% |
| Expensive | 53x | $156 | +424% |
Historical ranges are pointers, not guarantees.
ERO's PE is in its cheap range at 10x. If earnings grow as analysts expect, today's price would be 6.1x next year's earnings.
ERO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for ERO, with profitability improving. However, they disagree widely on these estimates.
ERO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.88 | +65% |
| Q2 2026 | $2.96 | +116% |
| Q1 2026 | $2.79 | +1541% |
| Q4 2025 | $2.54 | +$3.21 |
| Q3 2025 | $1.32 | +725% |
| Q2 2025 | $1.37 | +$1.57 |
| Q1 2025 | $0.17 | -73% |
| Q4 2024 | -$0.67 | -169% |
| Q3 2024 | $0.16 | -81% |
ERO earned $2.96 per share over the past year, up 116% from the year before.
ERO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $284.3M | +74% |
| Q1 2026 | $259.5M | +107% |
| Q4 2025 | $325.1M | +165% |
| Q3 2025 | $177.1M | +42% |
| Q2 2025 | $163.5M | +40% |
| Q1 2025 | $125.1M | +18% |
| Q4 2024 | $122.5M | +5.3% |
| Q3 2024 | $124.8M | +19% |
ERO's revenue has grown year over year for 10 quarters in a row: $284M last quarter, up 74% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 38% | +8.3 points |
| Q1 2026 | 35% | +1.1 points |
| Q4 2025 | 44% | +1.5 points |
| Q3 2025 | 22% | -5.6 points |
| Q2 2025 | 29% | +17 points |
| Q1 2025 | 34% | +22 points |
| Q4 2024 | 42% | +18 points |
| Q3 2024 | 27% | +27 points |
ERO's operating margin was 38% last quarter, up 8.3 points from the same quarter a year ago.
ERO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $51.8M | +173% |
| Q1 2026 | $19.9M | +237% |
| Q4 2025 | $58M | +$73.9M |
| Q3 2025 | $23.9M | +$49M |
| Q2 2025 | $19M | +$79.5M |
| Q1 2025 | $5.9M | +$96.5M |
| Q4 2024 | -$15.9M | +$60.7M |
| Q3 2024 | -$25.2M | +$54.4M |
ERO's free cash flow has turned positive after four years mostly in the red: $154M over the past year.
ERO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +853K shares |
| 1 year | +1.9% | +2M shares |
| 3 years | +13% | +12.2M shares |
| 5 years | +13% | +12.6M shares |
| Available history | +16% | +14.6M shares |
ERO has 106M diluted shares, up 1.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ERO hasn't bought back shares in the past year.
ERO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 1.1x | Healthy |
| Q3 2025 | 2.0x | Healthy |
| Q2 2025 | 2.2x | Moderate |
| Q1 2025 | 5.2x | High |
| Q4 2024 | 41.3x | High |
| Q3 2024 | 4.5x | High |
ERO's net debt is less than a year of its operating earnings (EBITDA), down from 2.2 years a year ago.
ERO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.8 | Neutral |
| Stochastic | 20.9 | Neutral |
ERO's weekly RSI is 47 (neutral) and its Stochastic is 21 (neutral).
ERO PE vs Basic Materials Sector
| Metric | ERO | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 19x | 46% below |
| PE % | 27 | 40 | 13 pts below |
ERO is trading at 10x earnings, a 46% discount to the Basic Materials sector's median of 19x.
ERO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $33.2 | 10% below |
| 20 week MA | $32.2 | 7.7% below |
| 50 week MA | $29.9 | 0.6% below |
| 100 week MA | $22.7 | 31% above |
| 200 week MA | $20.5 | 46% above |
ERO has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 46% above its 200-week average.
ERO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $17.9 | $14.9 | -17% |
| 2021 | $14.9 | $14.9 | +0.3% |
| 2022 | $14.9 | $13.6 | -8.9% |
| 2023 | $13.6 | $15.8 | +16% |
| 2024 | $15.8 | $13.4 | -15% |
| 2025 | $13.4 | $28.0 | +110% |
| 2026 YTD | $28.0 | $29.8 | +6.4% |
ERO has finished lower in three of the last six years. It's up 6.4% so far in 2026.