FINANCIAL MODEL

Southern Copper Corporation

SCCO · all figures in $M unless noted

burgundy figures open the exact filing page they were verified against · green figures are computed — click for the formula

	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Income Statement
Revenue	5,046	5,380	6,655	7,097	7,286	7,985	10,934	10,048	9,896	11,433	13,420
Cost of Goods Sold	2,928	3,034	3,253	3,409	3,607	3,930	3,894	4,649	4,688	4,841	5,359
Gross Profit	2,118	2,346	3,402	3,688	3,679	4,055	7,040	5,399	5,208	6,592	8,061
SG&A			91	103	132	126	125	125	127	130	138
R&D	0	0	0	0	0	0	0	0	0	0	0
EBITDA	1,925	2,211	3,290	3,556	3,517	3,896	6,871	5,232	5,026	6,401	7,870
D&A	511	647	671	675	764	775	806	796	834	846	868
EBIT (Operating Income)	1,414	1,564	2,619	2,881	2,753	3,121	6,065	4,436	4,192	5,555	7,002
Interest Expense			357	361	373	393	388	387	376	376	417
Pre-Tax Income			2,303	2,589	2,427	2,746	5,697	4,248	3,956	5,357	6,784
Tax Expense			1,574	1,046	941	1,176	2,299	1,596	1,519	1,975	2,470
Net Income	736	777	729	1,543	1,486	1,570	3,397	2,638	2,425	3,377	4,335
Diluted EPS			0.94	2.00	1.92	2.03	4.39	3.41	3.05	4.21	5.24
Diluted Shares (M)	803.0	782.0	781.0	781.0	781.0	781.0	773.1	773.1	795.3	802.9	826.6
Balance Sheet
Total Cash & Equivalents	275	546	1,005	845	1,925	2,184	3,002	2,070	1,152	3,258	4,305
Short-term Debt			0	0	400	0	300	0	0	500	0
Long-term Debt	5,952	5,954	5,957	5,960	6,541	6,544	6,248	6,251	6,255	5,758	6,751
Total Debt	5,952	5,954	5,957	5,960	6,941	6,544	6,548	6,251	6,255	6,258	6,751
Net Debt	5,677	5,408	4,952	5,115	5,016	4,360	3,546	4,181	5,103	3,000	2,446
Total Current Assets	2,484	2,566	3,170	3,180	4,185	4,815	6,140	5,188	4,430	6,174	8,352
Total Current Liabilities	920	999	1,168	1,216	1,477	1,385	2,250	1,236	1,388	2,248	2,145
Total Assets	12,593	13,234	13,780	14,288	16,407	16,947	18,298	17,277	16,725	18,714	21,381
Total Liabilities	7,235	7,303	7,570	7,613	9,543	9,671	10,090	9,131	9,244	9,475	10,276
Shareholders' Equity	5,299	5,871	6,149	6,613	6,858	7,225	8,149	8,084	7,418	9,172	11,038
Minority Interest	59	60	61	62	6	51	59	62	63	67	67
Intangibles & Goodwill	155	154	153	148	148	143	138	135	130	125	122
PP&E	8,263	8,767	9,100	9,404	9,371	9,459	9,464	9,597	9,783	9,883	10,272
Receivables	551	669	976	973	912	1,069	1,359	1,394	1,141	1,190	1,951
Payables	647	584	660	673	598	595	592	658	653	615	862
Inventory	857	1,010	1,042	1,033	1,069	950	973	1,014	1,017	1,049	1,058
Retained Earnings	4,812	5,455	5,726	6,187	6,436	6,846	7,770	7,702	7,034	6,840	5,797
Cash Flow
Cash from Operations	880	923	1,977	2,235	1,912	2,784	4,292	2,802	3,573	4,422	4,752
Capital Expenditures	1,150	1,119	1,023	1,121	707	592	-892	-948	-1,009	-1,027	-1,325
Free Cash Flow	-270	-196	954	1,114	1,205	2,192	3,400	1,854	2,564	3,394	3,427
Stock-Based Compensation			20	21	22	22	23	25
Dividends Paid	-271	-139	-456	-1,082	-1,237	-1,160	-2,474	-2,706	-3,092	-1,637	-2,485
Share Repurchases	1,004	72	0	0	0	0	0	0