Nexa Resources S.A.
NEXA · Metal Mining · EDGAR filings ↗
Grade
C68Profitable, scaled zinc/silver miner with solid returns that recovered to net income in FY2025, but tempered by high leverage and commodity cyclicality.
Strengths
- ROA top-decile (87.9th pct) and ROE ~17% (66th); operating income up 80% on higher metal prices
- Net margin 76.5th pct and diversified end-market geography with leading positions in Peru/Brazil
Risks
- Debt/equity 1.32 (92nd pct) with thin interest coverage of ~1.6x and downgrade/covenant exposure
- Highly cyclical commodity prices, China demand sensitivity, tailings-dam and ESG/permitting risk; FCF razor-thin (0.4% margin)
Notable findings
- Weak liquidityCurrent ratio 0.87 (<1)
Key metrics
Gross margin
23.7%
Operating margin
16.6%
Net margin
7.4%
Return on equity
17.3%
Return on assets
4.2%
ROIC
13.1%
Revenue growth (QoQ)
8.5%
Debt / equity
1.3×
Interest coverage
1.6×
Current ratio
0.9×
Free cash flow
$13M
Tangible book value
$1.3B
Cash & investments
$516M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-26 | 2025-12-31 | 0001292814-26-001787 ↗ |
| 20-F | 2025-03-27 | 2024-12-31 | 0001292814-25-001097 ↗ |
| 20-F | 2024-03-27 | 2023-12-31 | 0001292814-24-001026 ↗ |
| 20-F | 2023-03-20 | 2022-12-31 | 0001292814-23-001018 ↗ |
| 20-F | 2022-03-17 | 2021-12-31 | 0001292814-22-001004 ↗ |
| 20-F | 2021-03-23 | 2020-12-31 | 0001104659-21-039820 ↗ |
| 20-F | 2020-03-20 | 2019-12-31 | 0001104659-20-036842 ↗ |
| 20-F | 2019-04-03 | 2018-12-31 | 0001104659-19-019711 ↗ |
| 20-F | 2018-04-30 | 2017-12-31 | 0001104659-18-028667 ↗ |