Southern Copper Corporation (SCCO) financials

NYSE · Basic Materials · Copper · 16,617 employees · CEO Leonardo Contreras Lerdo de Tejada

Price: $177.53 -7.42%
Market cap: $150B
Enterprise value: $154B
Last report: Q3 '26 filed 2026-10-30
Next report: 2027-01-27 EPS est. $2.03

Revenue (TTM)$17.1B+38.7% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)58.6%+8.4 pp vs a year agoOperating income $10B

Net income (TTM)$6.36B+66.5% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$6.46B+85.7% vs a year agoCapex $938M

Diluted EPS (TTM)$7.64+61.5% vs a year agoSum of the last 4 quarters

Net cash-$446M+84.7% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $150B
Revenue: $17.1B
Revenue growth: +29%
Profit margin: 37.2%
P/E: 23.2×
P/S: 8.8×
EV / EBITDA: 14.2×
Free cash flow: $6.46B
Net income: $6.36B
Revenue estimate: $17.3B
Earnings: 2027-01-27
Dividend: $3.91

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-21): revenue beat by 4.6%, EPS beat by 6.4%Revenue $4.7B vs $4.49B expected (+4.6%); EPS $2.15 vs $2.02 (+6.4%).
Revenue growth accelerating: 39.1% year on yearQ3 '26 revenue $4.7B, against an average of 32.7% over the four quarters before.
Operating margin 58.6% (TTM), +8.4 pp on a year agoOperating income grew 61.8% while revenue grew 38.7%.
Capex 5.5% of revenue (a year ago 9.2%)$938M invested in the last 4 quarters (-17.5% on a year earlier). Free cash flow $6.46B = 101.6% of net income.
Returned $3.29B to shareholders = 51.0% of free cash flowBuybacks $0 (a year earlier $0), dividends $3.29B, stock-based pay $0 (TTM).
Diluted share count up 1.9% in a year838M diluted shares in Q3 '26, 823M a year earlier.
Net debt $446MCash + short-term investments $8.06B, debt incl. leases $8.51B; a year ago net debt $2.91B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$4.7B	$3.38B	+39.1%
Gross margin	66.0%	59.8%	+6.1 pp
Operating income	$2.82B	$1.77B	+59.2%
Operating margin	59.9%	52.4%	+7.6 pp
Net income	$1.8B	$1.11B	+62.7%
Diluted EPS	$2.15	$1.34	+60.4%
Operating cash flow	$2.22B	$1.56B	+42.6%
Capex	$516M	$349M	+47.7%
Free cash flow	$1.71B	$1.21B	+41.2%
R&D	$0	$0	–
Stock-based compensation	$0	$0	–

Reported vs consensus

2026-10-21

	Actual	Consensus	vs consensus
Revenue	$4.7B	$4.49B	+4.6%
EPS (as estimated)	$2.15	$2.02	+6.4%

From the report of 2026-10-21 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
Copper	$3.46B	+41.3%	73.6%	$12.5B	+35.0%
Molybdenum	$570M	+31.2%	12.1%	$1.81B	+30.3%
Silver	$341M	+36.3%	7.3%	$1.59B	+100.1%
Zinc	$170M	+34.5%	3.6%	$636M	+27.8%
Other	$157M	+32.2%	3.3%	$617M	+42.6%

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
MEXICO	$1.33B	+47.0%	43.5%	$4.28B	+35.2%
Europe	$266M	-71.5%	8.7%	$2.84B	-17.5%
United States	$573M	+18.1%	18.7%	$2.46B	+48.4%
China	–	–	–	–	–
Asia	$57.2M	-80.2%	1.9%	$838M	-31.1%
PERU	$396M	+90.6%	12.9%	$1.25B	+55.3%
CHILE	$235M	+48.8%	7.7%	$740M	+45.5%
BRAZIL	$203M	+101.0%	6.6%	$773M	+46.8%

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Mexican Open Pit	–	–	$1.74B	+63.5%	–	–	$6.03B
Mexican IMMSA Unit	–	–	$76.3M	+64.8%	–	–	$385M
Peruvian Operations	–	–	$1.01B	+50.9%	–	–	$3.66B
Corporate And Eliminations	–	–	-$11M	0.0%	–	–	-$47M

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $7.4B
Capex: -$938M
Buybacks: $0
Dividends: -$3.29B
Acquisitions: $0
Net debt issued: $0
Stock-based compensation: $0
Free cash flow: $6.46B
Returned to shareholders / FCF: 51.0%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	23.2×	20.8×	13.2× – 27.1×
EV / EBITDA	14.2×	11.2×	7.2× – 15.2×
EV / Sales	9.0×	6.4×	4.5× – 9.1×
Price / FCF	23.2×	23.3×	13.2× – 34.7×
Price / Book	11.0×	7.6×	5.4× – 10.8×
FCF yield	4.3%	4.7%	2.9% – 7.6%
Return on invested capital	28.2%	19.9%	16.7% – 23.1%
Return on equity	52.0%	36.6%	32.6% – 41.7%

Analysts

Consensus target $169.60 (-4.5%)
range $140.00 – $193.00 · rating Hold

Strong buy0

Buy3

Hold14

Sell12

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$17.3B	+29.2%	$7.98	+52.3%	22.2×	9
FY2027	$16.9B	-2.6%	$7.57	-5.2%	23.5×	9
FY2028	$16.9B	-0.1%	$7.26	-4.1%	24.5×	8
FY2029	$19.7B	+17.0%	$8.18	+12.7%	21.7×	5
FY2030	$19.1B	-3.1%	$8.94	+9.2%	19.9×	5

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 203 figures Southern Copper Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$993M	$739M	+34.3%	$862M	$615M	+40.0%
Accounts Receivable, after Allowance for Credit Loss, Current	$2.35B	$1.72B	+36.5%	$1.95B	$1.19B	+64.0%
Accrued Income Taxes, Current	$1.02B	$398M	+155.0%	$634M	$635M	-0.1%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$11.1B2025-12-31	$10.5B	+6.3%	$11.1B	$10.5B	+6.3%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$8.3M	-$2.2M	+477.3%	$8.3M	-$2.2M	+477.3%
Additional Paid in Capital, Common Stock	$11.2B	$6.52B	+72.4%	$7.26B	$5.03B	+44.4%
Amortization of Intangible Assets	–	–	–	$7.5M	$9.1M	-17.6%
Asset Retirement Obligation	$496M	$458M	+8.3%	$471M	$546M	-13.7%
Asset Retirement Obligation, Accretion Expense	$7.1M	$6M	+18.3%	$33M	$25.7M	+28.4%
Asset Retirement Obligation, Liabilities Incurred	–	–	–	$5.3M	$24.6M	-78.5%
Asset Retirement Obligation, Liabilities Settled	$2M	–	–	$1M	–	–
Asset Retirement Obligation, Revision of Estimate	$0	-$58.2M	+100.0%	-$112M	-$117M	+3.6%
Asset Retirement Obligations, Noncurrent	$496M	$458M	+8.3%	$471M	$546M	-13.7%
Assets	$25.6B	$20.3B	+25.9%	$21.4B	$18.7B	+14.3%
Assets, Current	$11.9B	$7.67B	+54.6%	$8.35B	$6.17B	+35.3%
Capital Expenditures Incurred but Not yet Paid	–	–	–	$85M	$19.8M	+329.3%
Cash and Cash Equivalents, at Carrying Value	$4.82B	$3.95B	+22.1%	$4.3B	$3.26B	+32.1%
Cash, Cash Equivalents, and Short-term Investments	$4.91B2025-12-31	$3.5B	+40.1%	$4.91B	$3.5B	+40.1%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$4.82B	$3.95B	+22.1%	$4.3B	$3.26B	+32.1%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$841M	$615M	-236.9%	$1.05B	$2.11B	-50.3%
Common Stock Dividends, Shares	10M	–	–	28.7M	17.3M	+65.9%
Common Stock, Dividends, Per Share, Cash Paid	$3.10	$2.20	+40.9%	$3.10	$2.10	+47.6%
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	2B	2B	0.0%	2B	2B	0.0%
Common Stock, Shares, Issued	885M	885M	0.0%	885M	885M	0.0%
Common Stock, Value, Issued	$8.8M	$8.8M	0.0%	$8.8M	$8.8M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$5.2M	$3.3M	+57.6%	$13.3M	$11.8M	+12.7%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$1.8B	$1.11B	+62.7%	$4.35B	$3.38B	+28.5%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$1.81B	$1.11B	+62.7%	$4.36B	$3.39B	+28.4%
Cost of Revenue	$1.6B	$1.36B	+17.9%	$5.36B	$4.84B	+10.7%
Costs and Expenses	$1.88B	$1.61B	+17.0%	$6.42B	$5.88B	+9.2%
Current Federal, State and Local, Tax Expense (Benefit)	–	–	–	-$4.8M2024-12-31	$4.6M	-204.3%
Current Foreign Tax Expense (Benefit)	–	–	–	$2.46B	$1.99B	+24.0%
Debt Instrument, Face Amount	$6.85B2025-12-31	$6.35B	+7.9%	$6.85B	$6.35B	+7.9%
Debt Instrument, Unamortized Discount	$62.3M2025-12-31	$59M	+5.6%	$62.3M	$59M	+5.6%
Debt Issuance Costs, Net	$38.2M2025-12-31	$33.9M	+12.7%	$38.2M	$33.9M	+12.7%
Debt Securities, Available-for-sale	$100K2025-12-31	$200K	-50.0%	$100K	$200K	-50.0%
Debt Securities, Available-for-sale, Current	$100K	$100K	0.0%	$100K	$200K	-50.0%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10	$100K2025-12-31	$200K	-50.0%	$100K	$200K	-50.0%
Debt Securities, Trading, and Equity Securities, FV-NI	$3.24B	$576M	+462.5%	$605M	$245M	+146.5%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$33.9M	-$52.2M	+35.1%
Deferred Income Tax Assets, Net	$402M	$275M	+46.4%	$336M	$311M	+8.3%
Deferred Income Tax Expense (Benefit)	-$73.8M	-$20.4M	-261.8%	-$33.9M	-$52.2M	+35.1%
Deferred Income Tax Liabilities, Net	$104M	$131M	-20.6%	$131M	$125M	+4.8%
Deferred Other Tax Expense (Benefit)	–	–	–	-$33.9M	-$52.2M	+35.1%
Deferred Tax Assets, Inventory	$87.2M2025-12-31	$57.2M	+52.4%	$87.2M	$57.2M	+52.4%
Deferred Tax Assets, Net	$206M2025-12-31	$186M	+10.6%	$206M	$186M	+10.6%
Deferred Tax Assets, Net of Valuation Allowance	$411M2025-12-31	$383M	+7.3%	$411M	$383M	+7.3%
Deferred Tax Assets, Other	$12.8M2025-12-31	$11.3M	+13.3%	$12.8M	$11.3M	+13.3%
Deferred Tax Assets, Tax Credit Carryforwards, Foreign	$2.38B2025-12-31	$2.17B	+9.6%	$2.38B	$2.17B	+9.6%
Deferred Tax Assets, Tax Credit Carryforwards, Other	$02025-12-31	$0	–	$0	$0	–
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits	$10M2025-12-31	$8.4M	+19.0%	$10M	$8.4M	+19.0%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals	$268M2025-12-31	$284M	-5.7%	$268M	$284M	-5.7%
Deferred Tax Assets, Valuation Allowance	$2.75B2025-12-31	$2.55B	+7.9%	$2.75B	$2.55B	+7.9%
Deferred Tax Liabilities, Gross	$205M2025-12-31	$197M	+4.2%	$205M	$197M	+4.2%
Deferred Tax Liabilities, Other	$67.3M2025-12-31	$71.9M	-6.4%	$67.3M	$71.9M	-6.4%
Deferred Tax Liabilities, Property, Plant and Equipment	$111M2025-12-31	$115M	-3.1%	$111M	$115M	-3.1%
Depreciation, Depletion and Amortization	$230M	$208M	+10.9%	$868M	$846M	+2.7%
Earnings Per Share, Basic	$2.15	$1.32	+62.9%	$5.24	$4.21	+24.5%
Earnings Per Share, Diluted	$2.15	$1.32	+62.9%	$5.24	$4.21	+24.5%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-01