Detailed financial statements for Aura Minerals (AUGO): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.
Aura Minerals Inc. is a company primarily engaged in the production of gold and copper, focusing its efforts on developing and managing various gold and other base metal mining ventures throughout the Americas. Its operational footprint spans several key segments, including the Minosa, Apoena, and Aranzazu Mines, alongside the Almas and Borborema Projects, complemented by its corporate division.
Analysis Summary
Aura Minerals reported revenue of $921.7M in the most recent fiscal year, growing at a 5-year CAGR of 25.2%.
Trailing-twelve-month margins: gross margin 56.8%, operating margin 50.0%, net margin 23.2%. Free cash flow grew at 17.4% CAGR over 5 years.
At the current price of $78.68, AUGO trades at a P/E of 22.77 and an ROE of -29.86%. Market capitalisation stands at $6.6B.
Balance sheet quality for AUGO: current ratio of 1.0, net debt of $125.1M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $299.9M | $424.0M | $392.7M | $416.9M | $594.2M | $921.7M |
| Cost of Revenue | $184.8M | $235.7M | $267.0M | $290.9M | $342.9M | $386.9M |
| Gross Profit | $115.1M | $188.3M | $125.7M | $126.0M | $251.3M | $534.9M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $19.5M | $22.7M | $22.3M | $24.8M | $31.0M | $48.9M |
| Operating Expenses | $19.5M | $32.4M | $37.5M | $39.0M | $45.9M | $81.1M |
| Operating Income | $95.6M | $155.9M | $88.2M | $87.0M | $205.4M | $453.8M |
| EBITDA | $107.3M | $192.1M | $135.0M | $106.4M | $149.8M | $153.0M |
| Interest Expense | $7.4M | $6.4M | $7.7M | $19.6M | $34.7M | $30.1M |
| Pre-tax Income | $75.5M | $147.9M | $82.0M | $38.3M | $52.4M | $51.9M |
| Income Tax | $7.0M | $55.2M | $25.7M | $6.4M | $82.7M | $131.2M |
| Net Income | $68.5M | $43.5M | $66.5M | $31.9M | -$30.3M | -$79.3M |
| EPS | $1.01 | $0.60 | $0.92 | $0.44 | $-0.42 | $-0.97 |
| EPS (Diluted) | $0.99 | $0.60 | $0.91 | $0.44 | $-0.42 | $-0.96 |
| Shares Outstanding (Diluted) | $69.1M | $72.5M | $72.6M | $72.2M | $72.4M | $82.7M |
Balance Sheet (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $118.1M | $161.5M | $127.9M | $237.3M | $270.2M | $286.1M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $35.8M | $42.4M | $55.9M | $83.8M | $35.7M | $103.1M |
| Inventory | $46.5M | $56.6M | $43.0M | $46.7M | $57.9M | $115.8M |
| Total Current Assets | $217.4M | $272.5M | $235.5M | $378.9M | $389.3M | $512.5M |
| Property, Plant & Equipment | $271.2M | $285.8M | $378.5M | $488.7M | $610.8M | $945.4M |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $536.2M | $592.5M | $727.3M | $923.8M | $1.08B | $1.61B |
| Accounts Payable | $38.3M | $39.6M | $46.9M | $57.4M | $69.6M | $189.6M |
| Short-term Debt | $30.4M | 0 | 0 | 0 | 0 | $99.5M |
| Total Current Liabilities | $120.7M | $146.6M | $161.1M | $201.5M | $251.3M | $526.3M |
| Long-term Debt | $41.9M | $99.9M | $140.8M | $250.7M | $361.1M | $311.6M |
| Total Liabilities | $223.8M | $320.2M | $417.2M | $609.0M | $857.3M | $1.34B |
| Retained Earnings | -$366.0M | -$408.1M | -$361.9M | -$358.2M | -$431.1M | -$626.3M |
| Total Equity | $312.7M | $272.3M | $310.1M | $314.8M | $223.0M | $265.7M |
| Total Debt | $73.7M | $101.0M | $180.1M | $289.4M | $385.3M | $411.2M |
| Net Debt | -$44.4M | -$60.5M | $52.2M | $52.1M | $115.2M | $125.1M |
| Working Capital | $96.6M | $125.9M | $74.3M | $177.5M | $138.0M | -$13.8M |
Cash Flow (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Net Income | $68.5M | $43.5M | $66.5M | $31.9M | -$30.3M | -$79.3M |
| Depreciation & Amortization | $24.2M | $37.8M | $19.8M | $23.6M | $28.4M | $75.8M |
| Stock-based Compensation | 0 | $660,000 | $471,000 | $287,000 | $186,000 | 0 |
| Change in Working Capital | -$7.1M | -$34.1M | $725,000 | $2.8M | -$33.9M | -$31.2M |
| Operating Cash Flow | $87.2M | $131.2M | $96.4M | $124.9M | $222.2M | $257.9M |
| Capital Expenditure | -$52.0M | -$79.5M | -$103.4M | -$96.1M | -$180.6M | -$179.4M |
| Acquisitions | $912,000 | $1.3M | -$54.4M | $1.6M | -$1.2M | 0 |
| Stock Repurchased | -$107,000 | 0 | -$9.3M | 0 | -$13.4M | -$351,000 |
| Dividends Paid | -$3.0M | -$85.6M | -$20.2M | -$28.2M | -$42.7M | -$115.8M |
| Free Cash Flow | $35.2M | $51.7M | -$7.0M | $28.9M | $41.7M | $78.5M |
Growth & Margins (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +41.4% | -7.4% | +6.2% | +42.5% | +55.1% | |
| Net Income Growth (YoY) | -36.5% | +52.9% | -52.1% | -195.0% | -162.1% | |
| EPS Growth (YoY) | -40.6% | +53.3% | -52.2% | -195.5% | -131.0% | |
| Shares Change (YoY) | +4.8% | +0.3% | -0.6% | +0.2% | +14.3% | |
| FCF Growth (YoY) | +46.9% | -113.5% | +512.1% | +44.4% | +88.4% | |
| Gross Margin | 38.4% | 44.4% | 32.0% | 30.2% | 42.3% | 58.0% |
| Operating Margin | 31.9% | 36.8% | 22.5% | 20.9% | 34.6% | 49.2% |
| EBITDA Margin | 35.8% | 45.3% | 34.4% | 25.5% | 25.2% | 16.6% |
| Net Margin | 22.8% | 10.3% | 16.9% | 7.6% | -5.1% | -8.6% |
| FCF Margin | 11.7% | 12.2% | -1.8% | 6.9% | 7.0% | 8.5% |
| Effective Tax Rate | 9.3% | 37.3% | 31.4% | 16.8% | 157.7% | 253.0% |
Per-Share Data (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| FCF Per Share | $0.51 | $0.71 | $-0.10 | $0.40 | $0.58 | $0.95 |
| Dividends Per Share | $0.04 | $1.18 | $0.28 | $0.39 | $0.59 | $1.40 |
| Shares Outstanding (Basic) | $67.9M | $72.2M | $72.4M | $72.2M | $72.4M | $81.7M |
What to look at in Basic Materials
Miners, chemicals, steel. 100% commodity-driven. Analysing them with pure P/E is a mistake — look at cost position and dividend sustainability.
- FCF yield — In commodities FCF is gold — EPS is very misleading
- Gross margin — 5y consistent gross margin = moat signal
- Net debt / EBITDA (trough) — Use EBITDA from the worst year of the cycle, not the current one
- Dividend coverage — Dividend covered by FCF in an average year, not at peak
- Capex / D&A — >1x = maintain/grow reserves. <0.7x = decapitalising
- Altman Z-Score — Bankruptcy model (NYU 1968) — combines liquidity, leverage and profitability. Key in cyclicals
- P/B across cycles — Commodities: 0.8-1.2x at troughs, 2x+ at peaks. <2x still reasonable zone
Profitability
| Return on Equity | -29.86% |
| Return on Invested Capital | -58.70% |
| Return on Assets | -4.93% |
| Gross Margin | 56.83% |
| Operating Margin | 49.99% |
| Net Margin | 23.18% |
Financial Health
| Debt / Equity | 1.00 |
| Current Ratio | 1.06 |
Key Ratios (10y)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| P/E | 24.01 | 40.42 | 26.36 | 55.11 | -57.74 | -51.98 |
| P/B | 5.27 | 6.43 | 5.66 | 5.56 | 7.87 | 15.50 |
| P/S | 5.49 | 4.13 | 4.47 | 4.20 | 2.95 | 4.47 |
| Gross Margin | 38.4% | 44.4% | 32.0% | 30.2% | 42.3% | 58.0% |
| Operating Margin | 31.9% | 36.8% | 22.5% | 20.9% | 34.6% | 49.2% |
| Net Margin | 22.8% | 10.3% | 16.9% | 7.6% | -5.1% | -8.6% |
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Explore sector: Basic Materials · Gold
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