Aurubis NDA.DE
GermanyIndustrials · Metal FabricationXetra · EUR
170.12 EUR (+9.8%)
8 analysts
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Aurubis AG is Europe's largest refined copper producer and a global leader in non-ferrous metals recycling, processing concentrates and scrap to produce cathodes, wire rod, and other copper products for industry.
Listed on Xetra · Symbol NDA.DE · ETR: NDA · Currency EUR
Key points
from its scores- ✓Strong growth9.2
- ✓Good share-price trend9.1
- ✓Attractive valuation7.3
- ✕Little or no dividend3.3
- ✕Little competitive advantage3.5
AI analysis
bottom line, main risk, context and newsThe balance sheet and growth are attractive, but weak cash generation and the cyclical nature of the business warrant caution.
Aurubis shows a very solid balance sheet (Net Debt/EBITDA of 0.45) and explosive growth (earnings +96.3%), but its cheap valuation (P/E 6.79) hides a weak moat quality (gross margin 11.02%) and negative free cash flow conversion (-45.19%), suggesting the market is correctly pricing in the cyclical nature of the business.
The main risk is the cyclical nature of the metals business: current earnings growth (+96.3%) could reverse sharply if copper prices or refining margins normalize, and negative free cash flow conversion (-45.19%) limits the ability to reward shareholders.
Context and risks
Aurubis is Europe's largest refined copper producer and recycles scrap, headquartered in Germany. Its business is energy-intensive (electricity and gas) and its operating margin is thin (3.07%), exposing it to European energy prices. Additionally, it depends on raw materials (copper concentrates) and global supply routes, although its geographic diversification and market position mitigate single-jurisdiction risk.
Is Aurubis stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 70% below the Industrials median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 6.8 | 25.4 | −73% |
| EV / EBITDA | 4.9 | 14.5 | −66% |
| Price / book | 1.1 | 4.1 | −72% |
| Price / sales | 0.3 | 2.1 | −85% |
Sector: median of the 388 Industrials companies analysed. In bold, the multiples used for the comparison.
Valuation score: 7.3 out of 10 (median for Industrials: 5.0).
Average analyst target: 170.12 EUR, +9.8% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 7.1 (sector 6.4), Growth 9.2 (sector 6.6).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Industrials medianValuation
- P/E
- 6.8
- Forward P/E
- 15.4
- EV / EBITDA
- 4.9
- Price / book
- 1.1
- Price / sales
- 0.3
- PEG
- 1.83
- Market cap
- 6.8B EUR
- Enterprise value
- 7.5B EUR
Profitability
- ROE
- 18.3%
- ROA
- 8.2%
- ROIC (approx.)
- 10.2%
- Gross margin
- 11.0%
- Operating margin
- 3.1%
- Net margin
- 4.5%
- Free cash flow
- −687.4M EUR
- FCF yield
- −10.2%
- Cash conversion
- −45%
Solvency
- Total debt
- 739.0M EUR
- Net debt
- 686.0M EUR
- Cash
- 53.0M EUR
- EBITDA
- 1.5B EUR
- Net debt / EBITDA
- 0.45
- Debt / equity
- 12.50
- Current ratio
- 2.15
- Quick ratio
- 0.38
Growth
- Revenue growth
- +40.3%
- Earnings growth
- +96.3%
- EPS (TTM)
- 22.81 EUR
- EPS (forward)
- 10.08 EUR
Dividend
- Dividend yield
- 1.0%
- Payout
- 7.0%
Risk and market
- Beta
- 1.34
- Analyst consensus
- Hold (8)
- Target price
- 170.12 EUR
- 52-week range
- 102.00 – 225.20
Recent news
All NDA.DE news →Compare it with its sector
All 388 in Industrials →Frequently asked questions about Aurubis
Is Aurubis stock cheap or expensive?
On P/E and EV / EBITDA, it trades 70% below the Industrials median on average. Valuation score: 7.3 out of 10 (median for Industrials: 5.0). Average analyst target: 170.12 EUR, +9.8% versus the price. This is not investment advice.
What score does Aurubis get on MeridIAn Screener?
It scores 5.5 out of 10, rank 1,418 of 2,130 (better than 32% of the companies analysed). Its strongest category is Growth (9.2) and its weakest, Dividend (3.3). Analysis of 08/10/2026.
What is Aurubis's P/E ratio?
Its P/E is 6.8: the share price equals 6.8 times earnings per share over the last 12 months. The Industrials median is 25.4. Based on the earnings analysts expect, the forward P/E is 15.4.
How much is Aurubis worth on the stock market?
Its market capitalisation is 6.8B EUR and its enterprise value, debt included, is 7.5B EUR.
How much debt does Aurubis have?
Its net debt (debt minus cash) is 686.0M EUR. That is 0.45 times its EBITDA; the Industrials median is 1.58.
Does Aurubis pay a dividend?
Yes: its dividend yield is 1.03% and it pays out 7% of its earnings.
How has Aurubis stock performed over the last year?
It has risen 36.5% over the last year, excluding dividends. Over the last 52 weeks it has traded between 102.00 and 225.20 EUR. Past performance does not guarantee future results.
What do analysts think of Aurubis?
8 analysts cover it; their average recommendation is “Hold” and their average target is 170.12 EUR (+9.8% versus the price). It is an estimate, not market data.