Southern Copper CorporationSCCO
NYSE•Basic Materials•Copper
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Mexico, the United States, Peru, Brazil, Chile, and Other American countries. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of copper-molybdenum concentrates and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of copper, molybdenum, zinc, silver, gold and lead. It operates the Toquepala and Cuajone open-pit mines, smelter, and refinery in Peru; La Caridad, an open-pit copper mine, as well as copper ore concentrator; and SX-EW plant, a smelter, refinery, and rod plant in Mexico. The company also operates Buenavista, an open-pit copper mine, as well as copper concentrators and operating SX-EW plants in Mexico. In addition, it operates underground mines that produce zinc, lead, copper, silver, and gold; coal mine; and zinc refinery. The company has interests in 164,805 hectares and 505,788 hectares of concessions in Peru and Mexico; and 98,634 hectares and 28,453 hectares of exploration concessions in Argentina and Chile. Southern Copper Corporation was formerly known as Southern Peru Copper Corp. and changed its name to Southern Copper Corporation in July 1996. The company was incorporated in 1952 and is based in Phoenix, Arizona. Southern Copper Corporation operates as a subsidiary of Americas Mining Corporation.
Southern Copper Corporation (SCCO) reported trailing twelve months revenue of $14.55B as of March 2026, a 21.7% increase year-over-year. Quarterly revenue reached $4.25B, reflecting continued top-line momentum.
Southern Copper Corporation generated $4.98B in TTM net income, with quarterly EBITDA of $2.71B. The operating margin expanded from 49.2% to 58.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (58.3%) and net margin (37.2%) indicates significant non-operating expenses or interest burden. Net margin has improved from 30.4% a year ago, signaling stronger bottom-line efficiency.
SCCO trades at a P/E of 26.0x (in line with broad market averages) and a P/S of 8.9x. The price-to-book ratio of 11.0x indicates a significant premium over book value.
The company generated $1.25B in free cash flow over the trailing twelve months, a 210.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $21.93B in total assets with $6.75B in long-term debt against $11.79B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~51.8%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 37.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~38.3% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~54.3% — no sign of cost or pricing stress.
FCF covers net income by 0.9x on average — earnings are well-supported by cash generation.
D/E ratio is 0.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 5.6% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation