Nexa Resources PeruA (LIM:NEXAPEC1) Operating Income: S/.1,804 Mil (TTM As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

LIM:NEXAPEC1 Nexa Resources Peru SAA LIM:NEXAPEC1
59 GF Score
Price S/.4.13
GF Value S/.2.33
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Nexa Resources PeruA Operating Income?

Nexa Resources PeruA LIM:NEXAPEC1 -0.22% 59 Operating Income is S/.1,804 Mil as of Mar. 2026. GuruFocus rates LIM:NEXAPEC1 with a GF Score™ of 59/100 and a GF Value™ of S/.2.33 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Nexa Resources PeruA's Operating Income for the three months ended in Mar. 2026 was S/.512 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was S/.1,804 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Nexa Resources PeruA's Operating Income for the three months ended in Mar. 2026 was S/.512 Mil. Nexa Resources PeruA's Revenue for the three months ended in Mar. 2026 was S/.1,022 Mil. Therefore, Nexa Resources PeruA's Operating Margin % for the quarter that ended in Mar. 2026 was 50.07%.

Good Sign:

Nexa Resources Peru SAA operating margin is expanding. Margin expansion is usually a good sign.

Nexa Resources PeruA's 5-Year average Growth Rate for Operating Margin % was 23.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Nexa Resources PeruA's annualized ROC % for the quarter that ended in Mar. 2026 was 28.51%. Nexa Resources PeruA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 74.20%.


Nexa Resources PeruA  (LIM:NEXAPEC1) Operating Income Explanation

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

Nexa Resources PeruA'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 )
=2046.108 * ( 1 - 41.09% )/( (4178.337 + 4277.413)/ 2 )
=1205.3622228/4227.875
=28.51 %

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))
=5677.581 - 751.061 - ( 748.183 - max(0, 1626.084 - 2895.714+748.183))
=4178.337

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))
=5690.673 - 944.953 - ( 468.307 - max(0, 1555.542 - 2967.76+468.307))
=4277.413

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

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

Nexa Resources PeruA'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 )
=2231.372/( ( (2163.953 + max(580.147, 0)) + (2260.362 + max(1009.86, 0)) )/ 2 )
=2231.372/( ( 2744.1 + 3270.222 )/ 2 )
=2231.372/3007.161
=74.20 %

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)
=(1899.241 + 113.514 + 134.776) - (751.061 + 0 + 816.323)
=580.147

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2042.979 + 162.854 + 293.62) - (944.953 + 0 + 544.64)
=1009.86

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. Operating Income is also linked to Operating Margin %:

Nexa Resources PeruA's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=511.527/1021.666
=50.07 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Nexa Resources PeruA Operating Income Related Terms


Nexa Resources PeruA Operating Income Historical Data

* Premium members only.

The historical data trend for Nexa Resources PeruA's Operating Income 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.

Nexa Resources PeruA Operating Income Chart

Nexa Resources PeruA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 819.83 881.02 402.84 812.81 1,505.85

Nexa Resources PeruA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income 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 215.39 330.70 294.73 667.44 511.53
LIM:NEXAPEC1
59GF Score
Nexa Resources Peru SAA LIM:NEXAPEC1
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nexa Resources PeruA Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income 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 S/.1,804 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 Operating Income →
What does a Operating Income of S/.1,804 Mil mean?
Nexa Resources PeruA (LIM:NEXAPEC1) has a Operating Income of S/.1,804 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nexa Resources PeruA and its competitors.
Is Nexa Resources PeruA's Operating Income too high?
Nexa Resources PeruA's current Operating Income is S/.1,804 Mil. Overall, Nexa Resources PeruA has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nexa Resources PeruA's Operating Income compare to competitors?
Nexa Resources PeruA's Operating Income of S/.1,804 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 Operating Income for a Metals & Mining company?
A good Operating Income depends on the Metals & Mining industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Nexa Resources PeruA and its competitors. Nexa Resources PeruA's current Operating Income is S/.1,804 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nexa Resources PeruA stock overvalued right now?
Based on GuruFocus' analysis, Nexa Resources PeruA (LIM:NEXAPEC1) is currently considered Significantly Overvalued. The stock's GF Value™ is S/.2.33, compared to a current price of S/.4.13 — trading 77.4% above its estimated fair value. The current Operating Income is S/.1,804 Mil. Nexa Resources PeruA's overall GF Score™ is 59/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Nexa Resources PeruA (LIM:NEXAPEC1), the current Operating Income is S/.1,804 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 Nexa Resources PeruA (LIM:NEXAPEC1) Overvalued in 2026?

Based on GuruFocus' analysis, Nexa Resources PeruA stock appears to be overvalued. The current stock price of S/.4.13 is trading 77.4% above its estimated GF Value™ of S/.2.33. GuruFocus considers Nexa Resources PeruA to be Significantly Overvalued.

Key valuation signals for LIM:NEXAPEC1:

  • Operating Income: S/.1,804 Mil
  • GF Value™: S/.2.33 vs. price of S/.4.13 (77.4% above fair value)
  • GF Score™: 59/100 with 4 warning signs

No single metric tells the full story. See the LIM:NEXAPEC1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Nexa Resources PeruA Business Description

Other Exchanges NEXAPEI1:Peru
Address Avenida Circunvalacion del Club Golf Los Incas No. 170, Torre El Golf Block A, Piso 22, Santiago de Surco, Lima, PER
Nexa Resources Peru SAA is a Peruvian mining company engaged in the exploration, extraction, processing, and sale of zinc, copper, and lead concentrates with silver and gold content. A low-cost polymetallic producer in Peru, it operates three mines: Cerro Lindo in Ica, and El Porvenir and Atacocha (Pasco Complex) in Pasco. The company focuses on sustainable mining, applying environmental practices and prioritizing workforce safety. Its products include concentrated zinc, Zamac, zinc oxide, sulfuric acid, and other value-adding by-products. It has one reportable segment, Mining, covering its operations in Pasco and Ica, where by-products help reduce zinc production costs.
59GF Score

Get the complete analysis for LIM:NEXAPEC1

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

S/.4.13
Price
S/.2.33
GF Value