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French mining group producing manganese ore, nickel and mineral sands used in steelmaking, batteries and industrial alloys.
French mining group producing manganese ore, nickel and mineral sands used in steelmaking, batteries and industrial alloys.
Sells manganese ore and alloys to steelmakers, mined in Gabon, and sells nickel from New Caledonia and from an Indonesian mine shared with China's Tsingshan, so metal prices and Gabon's rail and port logistics decide results. The French state and the Duval family are major shareholders.
In one line: A French, diversified Vale for manganese/nickel.
Moat: narrow (scale, installed base). Top-tier manganese ore reserves in Gabon give cost/scale advantage, but nickel unit is high-cost and loss-making.
Headquarters: Paris, France · Founded: 1880 · Employees: 8,572
Size Eramet (ERA.PA) is a France Materials company (Other Metals/Minerals) with a market value of $1.19B, the 128th largest of 206 France companies the cockpit tracks. Shares closed at €37.18 on 6 Nov 2026.
Performance Over six months the shares fell 37.9%, against -24.0% for the median peer and -0.4% for the France market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 0.3% over the last twelve months (peer median +45.4%); the operating margin is -1.2% (peer median 6.2%).
Valuation It trades at 1.4× enterprise value to sales against a peer median of 2.1× (6th cheapest of 17).
Capital Return on invested capital runs 6.5 points below its cost of capital (5.9% WACC).
Credit Eramet has 2 bonds outstanding ($1.23B), rated B2 by the agencies.
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €2.89B | €2.75B | €2.93B | €3.25B | €5.01B |
| Revenue growth | — | -6% | -10% | -35% | — |
| Gross profit | -€129M | -€154M | €63.0M | €53.0M | €1.23B |
| EBITDA | €289M | €138M | €252M | €278M | €1.46B |
| Net income | -€520M | -€477M | €14.0M | €109M | €740M |
| Free cash flow | -€407M | -€743M | -€676M | -€372M | €467M |
| Capital expenditure | €353M | €472M | €687M | €921M | €588M |
| Total debt | n/a | €2.52B | €2.22B | €2.23B | €2.00B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Eramet ERA.PA | $1.19B | -38% | 0% | -1% | 1.4× | n/a |
| Vale S.A. Sponsored ADR VALE | $45.4B | -30% | +11% | 25% | 1.4× | -14.0% |
| South32 S32.AX | $13.7B | -1% | -4% | 15% | 2.3× | 6.3% |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 0.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ERA.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.1% | -18.2% | 11th highest of 21 |
| 6-month return | -37.9% | -24.0% | 8th lowest of 20 |
| Distance from 52-week high | -57.9% | -49.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +0.3% | +45.4% | 3rd lowest of 16 |
| Operating margin | -1.2% | 6.2% | 4th lowest of 17 |
| EV / Sales | 1.4× | 2.1× | 6th cheapest of 17 |
| ROIC minus cost of capital | -6.5 pp | -5.6 pp | 9th lowest of 18 |
| EV / EBITDA | 13.6× | 14.4× | 5th cheapest of 9 |
| Net debt / EBITDA | 6.5× | -0.0× | 2nd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Eramet ERA.PA | France | $1.19B | -38% | 0% | -1% | 1.4× | n/a | n/a |
| Solaris Resources SLS.TO | Canada | $1.19B | -28% | n/a | n/a | n/a | n/a | n/a |
| Faraday Copper FDY.TO | Canada | $1.21B | -18% | n/a | n/a | n/a | n/a | n/a |
| Ivanhoe Electric IE | United States | $1.21B | -45% | -21% | -3,916% | 328.4× | n/a | n/a |
| Gravita India GRAVITA.NS | India | $1.17B | -17% | +24% | 8% | 2.2× | n/a | n/a |
| Collective Mining CNL.TO | Canada | $1.17B | -22% | n/a | n/a | n/a | n/a | n/a |
| Jiangxi Jiangnan New Material Technology 603124.SS | China | $1.16B | -37% | +19% | 3% | 0.8× | n/a | n/a |
| Uranium Royalty UROY | United States | $1.16B | -24% | +1,570% | 27% | 9.4× | 17.4% | +161.8% |
| North Long Dragon New Materials Tech 301357.SZ | China | $1.23B | -20% | -9% | -23% | 49.9× | n/a | n/a |
| Evolution Metals & Technologies EMAT | United States | $1.23B | -79% | n/a | -548% | 356.1× | n/a | n/a |
| Alphamin Resources AFM.V | Canada | $1.12B | -15% | +45% | 54% | 1.3× | n/a | n/a |
| Nanjing Hanrui Cobalt 300618.SZ | China | $1.27B | -49% | +11% | 4% | 1.6× | n/a | n/a |
| Londian Wason New Energy Tech, Inc. Unsponsored ADR FOIL | United States | $1.11B | n/a | +25% | 5% | 0.6× | n/a | n/a |
| Xizang Zhihui Mining 2546.HK | Hong Kong | $1.08B | +8% | +104% | 28% | 11.8× | 32.8% | +6.0% |
| Zimplats ZIM.AX | Australia | $1.06B | -15% | +50% | 33% | 0.8× | -15.0% | +1.1% |
| Jain Resource Recycling JAINREC.NS | India | $1.05B | -43% | +48% | 5% | 0.9× | n/a | n/a |
| Americas Gold and Silver USA.TO | Canada | $1.05B | -50% | +86% | 19% | 5.6× | n/a | n/a |
| TMC TMC | United States | $1.00B | -60% | n/a | n/a | n/a | n/a | n/a |
| Innuovo Technology 000795.SZ | China | $1.42B | -8% | +21% | 5% | 2.1× | n/a | n/a |
| Jinchuan Group International Resources 2362.HK | Hong Kong | $997M | +4% | +65% | 22% | 2.0× | -2.2% | -1.8% |
| Liontown LTR.AX | Australia | $1.43B | -75% | +115% | 8% | 3.1× | 38.7% | +303.2% |
Eramet has 2 bonds outstanding with $1.23B face value. The agencies rate it B2.