Ero CopperERO +0.61%91 Pretax Margin % is 48.33% as of Mar. 2026, which is 84% above its 10-year median of 26.27. GuruFocus rates ERO with a GF Score™ of 91/100 and a GF Value™ of $36.25 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 843 Metals & Mining companies, Ero Copper ranks better than 83.75% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Ero Copper's Pre-Tax Income for the
three
months ended in Mar. 2026 was $127.2 Mil. Ero Copper's Revenue for the
three
months ended in Mar. 2026 was $263.2 Mil. Therefore, Ero Copper's pretax margin for the quarter that ended in Mar. 2026 was 48.33%.
The historical rank and industry rank for Ero Copper's Pretax Margin % or its related term are showing as below:
ERO'
s Pretax Margin % Range Over the Past 10 Years
Min: -16.04 Med: 26.27 Max: 48.36
Current: 39.23
ERO's Pretax Margin % is ranked better than 83.75% of 843
companies
in the Metals & Mining industry
Industry Median: 4.83
vs ERO: 39.23
Ero Copper (NYSE:ERO) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Ero Copper Pretax Margin % Related Terms
Ero Copper Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Ero Copper's Pretax Margin % 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.
For the Copper subindustry, Ero Copper's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Ero Copper's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Ero Copper's Pretax Margin % falls into.
* 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 (ERO) has a Pretax Margin % of 48.33% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Ero Copper and its competitors. This is 84% above median its historical median of 26.27. According to the industry distribution chart, Ero Copper ranks #137 out of 843 companies in the Metals & Mining industry, placing it in the top 16.3%.
Is Ero Copper's Pretax Margin % too high?
Ero Copper's current Pretax Margin % of 48.33% is 84% above median its 10-year median of 26.27. The Metals & Mining industry median Pretax Margin % is 4.83. Ero Copper's value of 48.33% is 900.6% above this industry median. Based on the distribution chart, Ero Copper ranks #137 out of 843 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. 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 Pretax Margin % compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, Ero Copper ranks #137 out of 843 companies for Pretax Margin %. This places Ero Copper in the top 16% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 4.83. Ero Copper's value of 48.33% is 900.6% above this benchmark. While the company's 10-year median is 26.27 vs. the industry median of 4.83, Ero Copper has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Metals & Mining company?
The median Pretax Margin % among Metals & Mining companies is 4.83, based on 843 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Ero Copper's current Pretax Margin % of 48.33% is 900.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Ero Copper and its competitors. For the Metals & Mining industry, the median Pretax Margin % is 4.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ero Copper's current Pretax Margin % is 48.33%, which is 84% above median its own 10-year median of 26.27. 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 $36.25, compared to a current price of $26.60 — trading 26.6% below its estimated fair value. The current Pretax Margin % is 48.33%, which is 84% above median its 10-year median of 26.27 and 900.6% above the Metals & Mining industry median of 4.83. 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Ero Copper (ERO), the current Pretax Margin % is 48.33% 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 $26.60 is trading 26.6% below its estimated GF Value™ of $36.25.
GuruFocus considers Ero Copper to be Modestly Undervalued.
Key valuation signals for ERO:
Pretax Margin %: 48.33% (84% above median its 10-year median of 26.27)
GF Value™: $36.25 vs. price of $26.60 (26.6% below fair value)
Industry Position: 900.6% above the Metals & Mining median (#137 of 843)
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 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
Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ERO has been successfully added to your 
