Nexa Resources S.A. (NEXA) vs TMC the metals company Inc. (TMC)

Nexa Resources S.A. and TMC the metals company Inc. are both Other Industrial Metals & Mining companies. Nexa Resources S.A. is the larger, with a market value of $1.7B against $1.2B — 1.4× the size. TMC the metals company Inc. has negative trailing earnings, so its P/E is not meaningful; Nexa Resources S.A. trades at 6.0×. Nexa Resources S.A. has the higher net margin (8.02% vs 0.00%) and the higher return on invested capital (16.8% vs 0.00%). Across the 13 metrics below, Nexa Resources S.A. leads on 10 and TMC the metals company Inc. on 3.

Valuation

Metric NEXA TMC Other Industrial Metals & Mining median
P/E 5.99 n/m 26.65
P/S 0.48 n/m 6.78
P/B 1.10 n/m 1.18
Price to free cash flow 13.27 n/m 15.65
EV/EBITDA 2.79 n/m 7.09
EV/Sales 0.87 n/m 4.64
Earnings yield 16.69% (28.29%) (9.58%)
Free cash flow yield 7.54% (3.91%) (8.41%)

Profitability

Metric NEXA TMC Other Industrial Metals & Mining median
Gross margin 28.39% 0.00% 14.52%
Operating margin 22.17% 0.00% 0.00%
Net margin 8.02% 0.00% 0.00%
Free cash flow margin 3.61% 0.00% 0.00%
Return on equity 20.91% (1,123.19%) (7.90%)
Return on assets 5.41% (172.41%) (11.61%)
Return on invested capital 16.79% 0.00% (3.47%)

Growth

Metric NEXA TMC Other Industrial Metals & Mining median
Revenue growth (TTM) 24.30% — 27.25%
EPS growth (last fiscal year) 164.52% (232.00%) (15.57%)
Revenue growth, 5-year CAGR 9.00% — 5.26%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NEXA TMC Other Industrial Metals & Mining median
Debt to equity 1.16 0.00 0.04
Current ratio 0.80 1.93 2.48
Net debt to EBITDA 1.48 0.84 1.07

Dividend

Metric NEXA TMC Other Industrial Metals & Mining median
Dividend yield 0.00% — 1.46%
Payout ratio 0.00 — —

Size

Metric NEXA TMC Other Industrial Metals & Mining median
Market cap 1.65b 1.18b 454.02m

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