Aurubis AG (DE:NDA)
XETRA:NDA
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Aurubis
(XETRA:NDA)
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Rating:82Outperform
Price Target:
€242.00
▲(27.03% Upside)
Action:Reiterated
Date:05/14/26
The score is driven by a very strong balance sheet and an inexpensive valuation (low P/E), supported by clear bullish price trends and positive momentum. The main constraint is weak and inconsistent free cash flow conversion, which reduces financial quality despite improved profitability.
Positive Factors
Balance-sheet strength
Very low leverage and a conservatively positioned capital structure provide durable financial flexibility. This allows Aurubis to fund cyclical working-capital swings, invest in capacity or environmental upgrades, and pursue strategic opportunities without forcing distress financing during commodity downcycles.
Negative Factors
Weak free-cash-flow conversion
Consistent negative or breakeven free cash flow despite reported profits indicates earnings-to-cash conversion issues. That reduces capacity for shareholder returns, increases reliance on internal financing or external funding for capex, and raises risk that profitability does not translate into durable liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Very low leverage and a conservatively positioned capital structure provide durable financial flexibility. This allows Aurubis to fund cyclical working-capital swings, invest in capacity or environmental upgrades, and pursue strategic opportunities without forcing distress financing during commodity downcycles.
Read all positive factors
Aurubis (NDA) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€8.99B
Dividend Yield1.26%
Average Volume (3M)143.34K
Price to Earnings (P/E)3.4
Beta (1Y)1.07
Revenue Growth12.36%
EPS Growth32.55%
CountryDE
Employees7,000
SectorGeneral
Sector StrengthN/A
IndustryCopper
Share Statistics
EPS (TTM)21.10
Shares Outstanding44,956,722
10 Day Avg. Volume182,420
30 Day Avg. Volume143,336
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
€179.60Price Target Upside-5.72% Downside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)8.73
Revenue Forecast (FY)€23.89B
Aurubis Business Overview & Revenue Model
Company Description
Aurubis AG processes metal concentrates and recycling materials in Germany. The company processes scrap metals, organic and inorganic metalbearing recycling raw materials, and industrial residues. It also offers wire rods and specialty wires, shap...
How the Company Makes Money
Aurubis makes money through a combination of (1) revenue from selling metals and metal products and (2) fees/margins for processing raw materials, plus (3) contributions from recycling activities and by-products.
1) Sale of copper and copper prod...
Aurubis Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.33B | 18.17B | 17.14B | 17.11B | 18.52B | 16.37B |
| Gross Profit | 1.71B | 996.00M | 1.67B | 1.09B | 1.81B | 1.91B |
| EBITDA | 1.49B | 981.00M | 770.86M | 372.10M | 1.12B | 1.04B |
| Net Income | 920.94M | 539.00M | 416.10M | 140.93M | 714.67M | 612.80M |
Balance Sheet | ||||||
| Total Assets | 10.63B | 8.97B | 7.85B | 7.26B | 7.45B | 6.61B |
| Cash, Cash Equivalents and Short-Term Investments | 167.00M | 355.00M | 364.21M | 609.72M | 766.37M | 974.65M |
| Total Debt | 524.00M | 541.00M | 383.22M | 262.67M | 327.50M | 581.31M |
| Total Liabilities | 4.86B | 3.96B | 3.29B | 3.01B | 3.19B | 3.17B |
| Stockholders Equity | 5.77B | 5.01B | 4.55B | 4.24B | 4.26B | 3.44B |
Cash Flow | ||||||
| Free Cash Flow | -2.00M | -83.00M | -309.20M | -52.28M | -59.23M | 559.64M |
| Operating Cash Flow | 651.00M | 675.00M | 537.47M | 572.71M | 287.82M | 812.08M |
| Investing Cash Flow | -657.00M | -769.00M | -725.82M | -609.70M | -201.26M | -232.06M |
| Financing Cash Flow | -199.00M | 91.00M | 17.20M | -174.52M | -347.17M | -95.95M |
Aurubis Technical Analysis
Positive
190.50
Price Trends
179.55
Positive
168.52
Positive
137.90
Positive
Market Momentum
5.94
Positive
61.97
Neutral
73.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:NDA, the sentiment is Positive. The current price of 190.5 is below the 20-day moving average (MA) of 195.31, above the 50-day MA of 179.55, and above the 200-day MA of 137.90, indicating a bullish trend. The MACD of 5.94 indicates Positive momentum. The RSI at 61.97 is Neutral, neither overbought nor oversold. The STOCH value of 73.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | €8.99B | 3.42 | 11.91% | 1.26% | 12.36% | 32.55% | |
63 Neutral | €3.36B | 24.66 | 13.75% | 1.93% | 4.88% | -1.67% | |
63 Neutral | €8.24B | 21.10 | 5.27% | 4.30% | -9.48% | -56.88% | |
62 Neutral | €45.80B | 12.41 | 5.24% | 5.16% | -11.46% | 137.39% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | €1.44B | -0.42 | 216.40% | ― | ― | ― |
* General Sector Average
DE:NDA
Aurubis
205.60
128.17
165.53%
DE:BAS
BASF SE
51.09
10.32
25.31%
DE:B5A0
Bauer AG
5.90
-0.25
-4.07%
DE:BYW
BayWa AG
11.70
2.76
30.93%
DE:GBF
Bilfinger
89.40
12.75
16.63%
DE:BNR
Brenntag AG
56.48
-1.54
-2.66%
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.