Aurubis AG (DE:NDA)
XETRA:NDA
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Aurubis
(XETRA:NDA)
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Rating:72Outperform
Price Target:
€183.00
▲(22.98% Upside)
Action:ReiteratedDate:02/08/26
The score is driven by a strong, low-leverage balance sheet and clear bullish price trend above all major moving averages. Offsetting these strengths are persistently negative free cash flow and weak cash conversion, while valuation is supportive with a moderate P/E but only a modest dividend yield.
Positive Factors
Low Leverage Balance Sheet
Very low debt-to-equity (~0.11 TTM) grants Aurubis durable financial flexibility to absorb copper-price cycles, fund recycling and processing investments, and maintain operations without heavy interest costs. This supports long-term capital allocation, resilience and strategic optionality.
Negative Factors
Persistent Negative Free Cash Flow
Sustained negative free cash flow (TTM ~-€225m) is a structural concern: it constrains internal funding for capex, dividends or working-capital needs and increases reliance on external financing. Over time this pressure can impede strategic investments and reduce financial optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage Balance Sheet
Very low debt-to-equity (~0.11 TTM) grants Aurubis durable financial flexibility to absorb copper-price cycles, fund recycling and processing investments, and maintain operations without heavy interest costs. This supports long-term capital allocation, resilience and strategic optionality.
Read all positive factors
Aurubis (NDA) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€6.50B
Dividend Yield1.26%
Average Volume (3M)143.34K
Price to Earnings (P/E)4.2
Beta (1Y)1.03
Revenue Growth6.03%
EPS Growth29.57%
CountryDE
Employees7,000
SectorGeneral
Sector StrengthN/A
IndustryCopper
Share Statistics
EPS (TTM)1.86
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
€153.90Price Target Upside3.43% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)8.05
Revenue Forecast (FY)€22.83B
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 generates revenue primarily through the production and sale of copper cathodes, which are sold to various industries for further processing into various copper products. Additionally, the company has significant revenue streams from the re...
Aurubis Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 19.29B | 18.17B | 17.14B | 17.11B | 18.52B | 16.37B |
| Gross Profit | 1.56B | 996.00M | 1.67B | 1.09B | 1.81B | 1.91B |
| EBITDA | 1.07B | 981.00M | 770.86M | 372.10M | 1.12B | 1.04B |
| Net Income | 605.00M | 539.00M | 416.10M | 140.93M | 714.67M | 612.80M |
Balance Sheet | ||||||
| Total Assets | 9.82B | 8.97B | 7.85B | 7.26B | 7.45B | 6.61B |
| Cash, Cash Equivalents and Short-Term Investments | 211.00M | 355.00M | 364.21M | 609.72M | 766.37M | 974.65M |
| Total Debt | 566.00M | 541.00M | 383.22M | 262.67M | 327.50M | 581.31M |
| Total Liabilities | 4.49B | 3.96B | 3.29B | 3.01B | 3.19B | 3.17B |
| Stockholders Equity | 5.33B | 5.01B | 4.55B | 4.24B | 4.26B | 3.44B |
Cash Flow | ||||||
| Free Cash Flow | -225.00M | -83.00M | -309.20M | -52.28M | -59.23M | 559.64M |
| Operating Cash Flow | 500.00M | 675.00M | 537.47M | 572.71M | 287.82M | 812.08M |
| Investing Cash Flow | -727.00M | -769.00M | -725.82M | -609.70M | -201.26M | -232.06M |
| Financing Cash Flow | -14.00M | 91.00M | 17.20M | -174.52M | -347.17M | -95.95M |
Aurubis Technical Analysis
Negative
148.80
Price Trends
161.29
Negative
139.64
Positive
118.21
Positive
Market Momentum
-2.69
Positive
39.74
Neutral
44.68
Neutral
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 148.8 is below the 20-day moving average (MA) of 160.50, below the 50-day MA of 161.29, and above the 200-day MA of 118.21, indicating a neutral trend. The MACD of -2.69 indicates Positive momentum. The RSI at 39.74 is Neutral, neither overbought nor oversold. The STOCH value of 44.68 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | €6.50B | 4.21 | 11.26% | 1.26% | 6.03% | 29.57% | |
63 Neutral | €3.72B | 22.68 | 13.51% | 1.93% | 10.17% | -20.99% | |
57 Neutral | €45.29B | 24.47 | 4.82% | 5.16% | -2.94% | -45.21% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €8.16B | 27.05 | 6.03% | 4.30% | -3.35% | -23.06% | |
52 Neutral | €1.76B | -0.42 | 515.36% | ― | -11.67% | -1069.47% |
* General Sector Average
DE:NDA
Aurubis
148.80
62.51
72.44%
DE:BAS
BASF SE
50.74
5.71
12.67%
DE:B5A0
Bauer AG
5.80
-0.10
-1.69%
DE:BYW
BayWa AG
14.75
5.24
55.07%
DE:GBF
Bilfinger
99.85
34.64
53.13%
DE:BNR
Brenntag AG
56.50
-3.07
-5.16%
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.