Ero CopperERO +2.08%87 Return-on-Tangible-Asset is 21.87% as of Mar. 2026, which is 106% above its 10-year median of 10.61. GuruFocus rates ERO with a GF Score™ of 87/100 and a GF Value™ of $37.66 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 2,667 Metals & Mining companies, Ero Copper ranks better than 92.31% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Ero Copper's annualizedNet Income for the quarter that ended in Mar. 2026 was $435.1 Mil. Ero Copper's average total tangible assets for the quarter that ended in Mar. 2026 was $1,989.5 Mil. Therefore, Ero Copper's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 21.87%.
The historical rank and industry rank for Ero Copper's Return-on-Tangible-Asset or its related term are showing as below:
ERO'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -4.75 Med: 10.61 Max: 33.87
Current: 15.55
During the past 10 years, Ero Copper's highest Return-on-Tangible-Asset was 33.87%. The lowest was -4.75%. And the median was 10.61%.
ERO's Return-on-Tangible-Asset is ranked better than 92.31% of 2667
companies
in the Metals & Mining industry
Industry Median: -17.27
vs ERO: 15.55
Ero Copper (NYSE:ERO) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Ero Copper Return-on-Tangible-Asset Related Terms
Ero Copper Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Ero Copper's Return-on-Tangible-Asset 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 vs SCCO, FCX: Return-on-Tangible-Asset Comparison
For the Copper subindustry, Ero Copper's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Ero Copper's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Ero Copper's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 21.87% mean?
Ero Copper (ERO) has a Return-on-Tangible-Asset of 21.87% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ero Copper and its competitors. This is 106% above median its historical median of 10.61. According to the industry distribution chart, Ero Copper ranks #205 out of 2667 companies in the Metals & Mining industry, placing it in the top 7.7%.
Is Ero Copper's Return-on-Tangible-Asset too high?
Ero Copper's current Return-on-Tangible-Asset of 21.87% is 106% above median its 10-year median of 10.61. Based on the distribution chart, Ero Copper ranks #205 out of 2667 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 87/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ero Copper's Return-on-Tangible-Asset compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, Ero Copper ranks #205 out of 2667 companies for Return-on-Tangible-Asset. This places Ero Copper in the top 8% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Ero Copper and its competitors. Ero Copper's current Return-on-Tangible-Asset is 21.87%, which is 106% above median its own 10-year median of 10.61. 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 Significantly Undervalued. The stock's GF Value™ is $37.66, compared to a current price of $25.58 — trading 32.1% below its estimated fair value. The current Return-on-Tangible-Asset is 21.87%, which is 106% above median its 10-year median of 10.61. Ero Copper's overall GF Score™ is 87/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Ero Copper (ERO), the current Return-on-Tangible-Asset is 21.87% 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 $25.58 is trading 32.1% below its estimated GF Value™ of $37.66.
GuruFocus considers Ero Copper to be Significantly Undervalued.
Key valuation signals for ERO:
Return-on-Tangible-Asset: 21.87% (106% above median its 10-year median of 10.61)
GF Value™: $37.66 vs. price of $25.58 (32.1% below fair value)
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.
87GF Score
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Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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