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Aurubis
(XETRA:NDA)
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Rating:66Neutral
Price Target:
€147.00
▼(-17.65% Downside)
Action:Downgraded
Date:08/10/26
The score is primarily supported by strong financial positioning (low leverage and improved TTM profitability) and a relatively low P/E valuation. Offsetting these positives are weak cash conversion with negative free cash flow and unfavorable technicals, with the stock trading below key moving averages and showing subdued momentum.
Positive Factors
Revenue and profit rebound
The recent recovery in revenue and profitability indicates improving operating performance after weaker prior periods. If sustained, stronger earnings can support reinvestment, improve resilience across the copper cycle, and provide a firmer base for returns over the next several quarters.
Negative Factors
Weak cash conversion
Reported profits are not currently translating into cash, with operating cash flow very low relative to net income and free cash flow negative. Persistent weak conversion can restrict internally funded investment, reduce financial flexibility, and make earnings quality less dependable.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit rebound
The recent recovery in revenue and profitability indicates improving operating performance after weaker prior periods. If sustained, stronger earnings can support reinvestment, improve resilience across the copper cycle, and provide a firmer base for returns over the next several quarters.
Read all positive factors
Aurubis (NDA) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€5.98B
Dividend Yield1.17%
Average Volume (3M)168.55K
Price to Earnings (P/E)6.0
Beta (1Y)1.16
Revenue Growth23.24%
EPS Growth61.71%
CountryDE
Employees7,266
SectorGeneral
Sector StrengthN/A
IndustryCopper
Share Statistics
EPS (TTM)22.82
Shares Outstanding44,956,722
10 Day Avg. Volume175,010
30 Day Avg. Volume168,553
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)0.92
Price to Sales (P/S)0.26
P/FCF Ratio-55.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€180.00Price Target Upside0.84% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)9.86
Revenue Forecast (FY)€27.13B
Aurubis Business Overview & Revenue Model
Company Description
Headquartered in Hamburg, Germany, Aurubis AG specializes in the advanced processing of metal concentrates and diverse recycling materials. The company's operations leverage a broad array of inputs, encompassing various scrap metals, both organic ...
How the Company Makes Money
Aurubis makes money mainly by processing and marketing metals and metal products, with earnings driven by a mix of physical product sales, treatment/refining economics, and by-product credits.
1) Sale of copper and copper products: A core revenue...
Aurubis Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.16B | 18.17B | 17.14B | 17.11B | 18.52B | 16.37B |
| Gross Profit | 1.55B | 996.00M | 1.67B | 1.09B | 1.81B | 1.91B |
| EBITDA | 1.60B | 981.00M | 770.86M | 372.10M | 1.12B | 1.04B |
| Net Income | 996.00M | 539.00M | 416.10M | 140.93M | 714.67M | 612.80M |
Balance Sheet | ||||||
| Total Assets | 10.88B | 8.97B | 7.85B | 7.26B | 7.45B | 6.61B |
| Cash, Cash Equivalents and Short-Term Investments | 53.00M | 355.00M | 364.21M | 609.72M | 766.37M | 974.65M |
| Total Debt | 739.00M | 541.00M | 383.22M | 262.67M | 327.50M | 581.31M |
| Total Liabilities | 4.96B | 3.96B | 3.29B | 3.01B | 3.19B | 3.17B |
| Stockholders Equity | 5.91B | 5.01B | 4.55B | 4.24B | 4.26B | 3.44B |
Cash Flow | ||||||
| Free Cash Flow | -256.00M | -83.00M | -309.20M | -52.28M | -59.23M | 559.64M |
| Operating Cash Flow | 289.00M | 675.00M | 537.47M | 572.71M | 287.82M | 812.08M |
| Investing Cash Flow | -538.00M | -769.00M | -725.82M | -609.70M | -201.26M | -232.06M |
| Financing Cash Flow | 181.00M | 91.00M | 17.20M | -174.52M | -347.17M | -95.95M |
Aurubis Technical Analysis
Negative
178.50
Price Trends
163.33
Negative
171.87
Negative
173.73
Negative
Market Momentum
-8.24
Positive
31.57
Neutral
16.83
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NDA, the sentiment is Negative. The current price of 178.5 is above the 20-day moving average (MA) of 150.47, above the 50-day MA of 163.33, and above the 200-day MA of 173.73, indicating a bearish trend. The MACD of -8.24 indicates Positive momentum. The RSI at 31.57 is Neutral, neither overbought nor oversold. The STOCH value of 16.83 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:NDA.
Aurubis Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €46.52B | 7.83 | 17.00% | 4.32% | -8.88% | 1431.12% | |
67 Neutral | €2.10B | 11.19 | 14.00% | 4.97% | 5.76% | 2.14% | |
66 Neutral | €5.98B | 6.00 | 18.09% | 1.17% | 23.24% | 61.71% | |
62 Neutral | €9.08B | 24.96 | 8.30% | 3.02% | -5.28% | -13.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
42 Neutral | €968.18M | -0.07 | -377.02% | 0.18% | ― | ― |
* General Sector Average
DE:NDA
Aurubis
136.00
22.73
20.06%
DE:BAS
BASF SE
52.84
10.92
26.04%
DE:B5A0
Bauer AG
5.84
0.19
3.36%
DE:BYW
BayWa AG
7.36
-8.44
-53.42%
DE:GBF
Bilfinger
57.05
-36.41
-38.96%
DE:BNR
Brenntag AG
62.32
15.73
33.75%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.