ERO (Ero Copper) EBIT: $383.6 Mil (TTM As of Mar. 2026)


ERO Ero Copper Corp ERO
91 GF Score
Price $26.18
GF Value $36.24
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Ero Copper EBIT?

Ero Copper ERO -5.66% 91 EBIT is $383.6 Mil as of Mar. 2026. GuruFocus rates ERO with a GF Score™ of 91/100 and a GF Value™ of $36.24 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Ero Copper's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $133.2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $383.6 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ero Copper's annualized ROC % for the quarter that ended in Mar. 2026 was 17.13%. Ero Copper's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 31.78%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Ero Copper's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 11.79%.


Ero Copper  (NYSE:ERO) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Ero Copper's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=365.736 * ( 1 - 14.06% )/( (1789.656 + 1879.834)/ 2 )
=314.3135184/1834.745
=17.13 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1923.878 - 118.728 - ( 105.442 - max(0, 260.718 - 276.212+105.442))
=1789.656

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=2055.07 - 109.001 - ( 91.207 - max(0, 224.064 - 290.299+91.207))
=1879.834

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Ero Copper's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=532.972/( ( (1607.923 + max(-26.363, 0)) + (1723.692 + max(23.016, 0)) )/ 2 )
=532.972/( ( 1607.923 + 1746.708 )/ 2 )
=532.972/1677.3155
=31.78 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(41.061 + 107.111 + 14.189) - (118.728 + 12.8 + 57.196)
=-26.363

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(48.064 + 107.741 + 37.028) - (109.001 + 10.917 + 49.899)
=23.016

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Ero Copper's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=383.635/3252.959
=11.79 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Ero Copper EBIT Related Terms


Ero Copper EBIT Historical Data

* Premium members only.

The historical data trend for Ero Copper's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ero Copper EBIT Chart

Ero Copper Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 242.51 147.51 125.13 -73.63 346.32

Ero Copper Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 95.93 84.74 56.67 108.98 133.24

ERO vs SCCO, FCX: EBIT Comparison

For the Copper subindustry, Ero Copper's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ero Copper EV-to-EBIT vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Ero Copper's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Ero Copper's EV-to-EBIT falls into.


ERO
91GF Score
Ero Copper Corp ERO
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ero Copper EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $383.6 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $383.6 Mil mean?
Ero Copper (ERO) has a EBIT of $383.6 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ero Copper.
Is Ero Copper's EBIT too high?
Ero Copper's current EBIT is $383.6 Mil. Overall, Ero Copper has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ero Copper's EBIT compare to SCCO and FCX?
Ero Copper's EBIT of $383.6 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Metals & Mining company?
A good EBIT depends on the Metals & Mining industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ero Copper. Ero Copper's current EBIT is $383.6 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ero Copper stock overvalued right now?
Based on GuruFocus' analysis, Ero Copper (ERO) is currently considered Modestly Undervalued. The stock's GF Value™ is $36.24, compared to a current price of $26.18 — trading 27.8% below its estimated fair value. The current EBIT is $383.6 Mil. Ero Copper's overall GF Score™ is 91/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Ero Copper (ERO), the current EBIT is $383.6 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ero Copper (ERO) Overvalued in 2026?

Based on GuruFocus' analysis, Ero Copper stock appears to be undervalued. The current stock price of $26.18 is trading 27.8% below its estimated GF Value™ of $36.24. GuruFocus considers Ero Copper to be Modestly Undervalued.

Key valuation signals for ERO:

  • EBIT: $383.6 Mil
  • GF Value™: $36.24 vs. price of $26.18 (27.8% below fair value)
  • GF Score™: 91/100 with 5 warning signs

No single metric tells the full story. See the ERO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ero Copper Business Description

Other Exchanges E0B:GermanyERO:Canada
Address 625 Howe Street, Suite 1050, Vancouver, BC, CAN, V6C 2T6
Ero Copper Corp is a high-margin, high-growth copper producer with operations in Brazil. Its primary asset is its 99.6% ownership interest in Mineracao Caraiba S.A., held indirectly through its wholly-owned subsidiary. The company also owns a 97.6% ownership interest in NX Gold S.A. indirectly through its wholly-owned subsidiary. Its reporting segments include its three operating mines in Brazil, the Caraiba Operations, the Tucuma Operation, and the Xavantina Operations, and its corporate head office in Canada.
91GF Score

Get the complete analysis for ERO

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$26.18
Price
$36.24
GF Value