Forensic Analysis · Materials / Mining & Chemicals · as of Aug 11, 2026
Southern Copper Corp/ (SCCO)
A forensic read on Southern Copper Corp/ built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
A · High-quality compounder
Forensic grade
Safe
Financial health
17.6
Distress distance
Clean
Earnings quality
3
Forensic signals
29.4
P / E (ttm)
39.3%
ROE
$167.9B
Market cap
1.73%
Dividend yield
17.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Southern Copper Corp/ earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 17.6, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+2.3%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +7% over the last 3 years to FY2025 (+2.3%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~2.3% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~6%.
+10.2%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +10.2% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by receivables up +64% against revenue +17%. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 3% of net operating assets, diverging from the balance-sheet accrual read.
-57%
FY2012→FY2019
Dividend — cut.The payout was CUT ~57% in FY2019 (from FY2012) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
Key fundamentals
Latest Revenue$13.42B
Revenue Growth YoY+17.4%
Revenue CAGR (3yr)+10.1%
Net Margin32.3%
Free Cash Flow$3.43B
Return on Equity39.3%
Debt / Equity0.66x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Southern Copper Corp/'s actual 10-K/10-Q/8-K filings?