NEXANexa Resources S.A.
Is the business good?
The checks split: earnings fully cash-backed (0.9×), but returns that lean on debt.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 13% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is NEXA?
Nexa Resources S.A. keeps 17% of every revenue dollar as operating profit, against −10% for the median Other Industrial Metals & Mining name.
Operating margin · Other Industrial Metals & Mining median −10% · fiscal year to FY2025
- Cash conversion
- 0.93×
Cash conversion · 1.61× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- 0.00%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 24%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −20% |
| FY2021 | 17% |
| FY2022 | 12% |
| FY2023 | −5.9% |
| FY2024 | 10.0% |
| FY2025 | 17% |
Details›
- Gross marginfiscal year to FY2025
- 24%
- Operating marginfiscal year to FY2025
- 17%
- Net marginfiscal year to FY2025
- 4.4%
- Free cash flow margin
- 0.44%
- Revenue, trailing twelve months
- $3.00B
- Free cash flow, trailing twelve months
- $13M
- Net income, trailing twelve months
- $133M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from NEXA and who it buys from, as the companies report it.
- Ten largest customers53%
Combined share of revenue · FY2025 20-F
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; NEXA’s own figures are from its FY2025 20-F. Smaller customers and suppliers go unreported.
Other Industrial Metals & Mining
Ranks #4 of 22 by RyuScore