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Europe's largest copper producer and recycler, smelting copper concentrate and scrap into copper cathodes and precious metals.
Europe's largest copper producer and recycler, smelting copper concentrate and scrap into copper cathodes and precious metals.
Is paid mainly for processing rather than for the metal itself: miners pay it a treatment charge to turn concentrate into pure copper, scrap suppliers pay for recycling, and by-products such as gold, silver and sulphuric acid add income. It bought the recycler Metallo, adding Belgian and Spanish plants, and is building a recycling plant in Georgia, US.
In one line: Europe's Freeport-McMoRan smelting arm (a processor/recycler, not a miner).
Moat: narrow (scale, process know-how, installed base). Large integrated smelting capacity and multi-metal recovery process give cost/efficiency edge, but copper is a priced commodity.
Headquarters: Hamburg, Germany · Founded: 1866 · Employees: 7,190
Size Aurubis (NDA.DE) is a Germany Materials company (Other Metals/Minerals) with a market value of $6.73B, the 63rd largest of 205 Germany companies the cockpit tracks. Shares closed at €137.50 on 6 Nov 2026.
Performance Over six months the shares fell 35.2%, against -17.3% for the median peer and +2.6% for the Germany market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 23.2% over the last twelve months (peer median +31.6%); the operating margin is 6.0% (peer median 27.3%).
Valuation It trades at 15.1× forward earnings against a peer median of 13.6× (8th most expensive of 18).
Capital Return on invested capital runs 5.9 points above its cost of capital (8.2% WACC).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €22.2B | €18.2B | €17.1B | €17.1B | €18.5B |
| Revenue growth | — | +6% | 0% | -8% | — |
| Gross profit | €1.55B | €1.00B | €839M | €326M | €1.04B |
| EBITDA | €1.59B | €848M | €659M | €250M | €977M |
| Net income | €996M | €539M | €416M | €141M | €715M |
| Free cash flow | -€256M | -€83.0M | -€320M | -€68.4M | -€57.8M |
| Capital expenditure | €545M | €758M | €847M | €625M | €347M |
| Total debt | €739M | €541M | €383M | €263M | €328M |
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 | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aurubis NDA.DE | $6.73B | -35% | +23% | 6% | 15.1× | n/a |
| Boliden BOL.ST | $14.6B | -4% | +23% | 16% | 11.3× | 0.6% |
| Freeport-McMoRan FCX | $85.3B | -4% | 0% | 24% | 14.3× | 16.3% |
| Glencore GLEN.L | $78.0B | -14% | +27% | 2% | 10.9× | n/a |
| KGHM Polska Miedz KGH.WA | $14.1B | -27% | +27% | 20% | 6.4× | 1.6% |
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 | NDA.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.2% | -13.5% | 7th highest of 21 |
| 6-month return | -35.2% | -17.3% | 5th lowest of 21 |
| Distance from 52-week high | -38.9% | -44.5% | 8th highest of 21 |
| Revenue growth (TTM) | +23.2% | +31.6% | 7th lowest of 20 |
| Operating margin | 6.0% | 27.3% | 4th lowest of 20 |
| Forward P/E | 15.1× | 13.6× | 8th most expensive of 18 |
| ROIC minus cost of capital | +5.9 pp | +5.0 pp | 10th highest of 21 |
| EV / EBITDA | 4.2× | 7.3× | 2nd cheapest of 10 |
| Net debt / EBITDA | 0.4× | -0.5× | 3rd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aurubis NDA.DE | Germany | $6.73B | -35% | +23% | 6% | 15.1× | n/a | n/a |
| NMDC NMDC.NS | India | $6.55B | -22% | +27% | 27% | 7.4× | 5.2% | +15.8% |
| Aura Minerals AUGO | United States | $6.52B | -5% | +89% | 53% | 10.6× | -6.0% | +25.2% |
| Discovery Mining DSV.TO | Canada | $6.44B | +19% | +684% | 38% | 17.6× | 19.9% | n/a |
| Yunnan Lincang Xinyuan Germanium Industry 002428.SZ | China | $7.09B | +3% | +54% | 13% | 230.8× | n/a | n/a |
| PLS PLS.AX | Australia | $6.33B | -56% | +152% | 43% | 10.6× | 2.5% | +61.6% |
| MP Materials MP | United States | $6.31B | -47% | +72% | -17% | 248.7× | n/a | n/a |
| Inner Mongolia Xingye Silver and Tin Mining 000426.SZ | China | $6.23B | -42% | +38% | 49% | 13.1× | 7.8% | +42.6% |
| Wanguo Gold 3939.HK | Hong Kong | $7.31B | +6% | +79% | 67% | 20.2× | 1.7% | +17.0% |
| Sandfire Resources SFR.AX | Australia | $6.20B | -4% | +32% | 32% | 13.3× | 9.2% | +25.8% |
| Capstone Copper CS.TO | Canada | $6.01B | -8% | +30% | 32% | 9.4× | 9.8% | +40.2% |
| China Rare Earth Resources And Technology 000831.SZ | China | $7.57B | -7% | -2% | 15% | 103.1× | 53.1% | +14.0% |
| Nanya New Material Technology 688519.SS | China | $5.90B | -5% | +104% | 17% | 55.2× | n/a | n/a |
| Yunnan Chihong Zinc & Germanium 600497.SS | China | $5.76B | -15% | +29% | 10% | 13.8× | 4.4% | +4.6% |
| China Nonferrous Mining 1258.HK | Hong Kong | $5.73B | -19% | +11% | 28% | 7.4× | -14.6% | +5.8% |
| Xinjiang Daqo New Energy 688303.SS | China | $5.69B | -20% | -23% | -62% | n/a | n/a | n/a |
| Yunnan Tin 000960.SZ | China | $5.66B | -34% | +19% | 8% | 10.8× | 1.9% | -0.5% |
| Jinduicheng Molybdenum 601958.SS | China | $8.06B | -15% | +7% | 32% | 13.6× | 4.2% | +13.7% |
| NexGen Energy NXE.TO | Canada | $5.57B | -31% | n/a | n/a | n/a | n/a | n/a |
| Baiyin Nonferrous 601212.SS | China | $5.49B | -35% | 0% | 5% | n/a | n/a | n/a |
| Ivanhoe Mines IVN.TO | Canada | $8.43B | -26% | +109% | 7% | 18.9× | n/a | n/a |