NYSE : FCX
Freeport-McMoRan Inc. — Financial statements
Materials · Copper · United States
Last price 66.14 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 94.98B
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Financial statements
Freeport-McMoRan Inc. (FCX) reported revenue of 26.44B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 26.44B | 25.91B | 25.45B | 22.86B | 22.78B | 22.84B |
| Cost of Revenue | 16.17B | 16.31B | 15.39B | 13.56B | 13.07B | 11.94B |
| Gross Profit | 10.27B | 9.61B | 10.07B | 9.29B | 9.71B | 10.90B |
| Selling, General & Admin | 561.00M | 545.00M | 513.00M | 479.00M | 444.00M | 376.00M |
| Other Operating Expenses | 59.00M | 58.00M | 127.00M | 319.00M | 121.00M | 91.00M |
| Operating Expenses | 2.71B | 3.10B | 3.11B | 3.07B | 2.70B | 2.52B |
| Operating Income | 7.56B | 6.50B | 6.96B | 6.22B | 7.01B | 8.38B |
| Interest Expense | -338.00M | -369.00M | -319.00M | -515.00M | -560.00M | -559.00M |
| Earnings From Equity Investments | 18.00M | 1.00M | 15.00M | 15.00M | 31.00M | 5.00M |
| Currency Exchange Gain (Loss) | 34.00M | 34.00M | 17.00M | 20.00M | 9.00M | 66.00M |
| Other Non Operating Income (Expenses) | 89.00M | 189.00M | 319.00M | 266.00M | 222.00M | -178.00M |
| EBT Excluding Unusual Items | 7.37B | 6.36B | 6.99B | 6.01B | 6.71B | 7.72B |
| Gain (Loss) on Sale of Assets | 18.00M | 16.00M | 2.00M | 80.00M | ||
| Legal Settlements | -43.00M | |||||
| Other Unusual Items | -1.04B | -71.00M | 10.00M | 31.00M | -92.00M | |
| Pretax Income | 7.04B | 6.37B | 6.92B | 6.02B | 6.75B | 7.66B |
| Income Tax Expense | 2.01B | 2.22B | 2.52B | 2.27B | 2.27B | 2.30B |
| Earnings From Continuing Operations | 5.03B | 4.15B | 4.40B | 3.75B | 4.48B | 5.37B |
| Net Income to Company | 5.03B | 4.15B | 4.40B | 3.75B | 4.48B | 5.37B |
| Minority Interest in Earnings | -1.59B | -1.95B | -2.51B | -1.90B | -1.01B | -1.06B |
| Net Income | 3.44B | 2.20B | 1.89B | 1.85B | 3.47B | 4.31B |
| Preferred Dividends & Other Adjustments | 7.00M | 7.00M | 6.00M | 6.00M | 7.00M | 7.00M |
| Net Income to Common | 3.44B | 2.20B | 1.88B | 1.84B | 3.46B | 4.30B |
| Shares Outstanding (Basic) | 1.44B | 1.44B | 1.44B | 1.43B | 1.44B | 1.47B |
| Shares Outstanding (Diluted) | 1.44B | 1.44B | 1.45B | 1.44B | 1.45B | 1.48B |
| EPS (Basic) | 2.39 | 1.53 | 1.31 | 1.28 | 2.40 | 2.93 |
| EPS (Diluted) | 2.38 | 1.52 | 1.30 | 1.28 | 2.39 | 2.90 |
| Free Cash Flow | 1.95B | 1.12B | 2.35B | 455.00M | 1.67B | 5.60B |
| Free Cash Flow Per Share | 1.35 | 0.77 | 1.63 | 0.32 | 1.15 | 3.78 |
| Dividend Per Share | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.38 |
| Gross Margin | 38.86% | 37.06% | 39.55% | 40.67% | 42.62% | 47.73% |
| Operating Margin | 28.60% | 25.09% | 27.35% | 27.24% | 30.78% | 36.70% |
| Profit Margin | 13.00% | 8.48% | 7.40% | 8.06% | 15.19% | 18.82% |
| Free Cash Flow Margin | 7.38% | 4.31% | 9.24% | 1.99% | 7.33% | 24.51% |
| EBITDA | 9.96B | 9.10B | 9.56B | 8.50B | 9.27B | 10.60B |
| EBITDA Margin | 37.66% | 35.12% | 37.54% | 37.19% | 40.71% | 46.39% |
| D&A For EBITDA | 2.40B | 2.60B | 2.60B | 2.27B | 2.26B | 2.21B |
| EBIT | 7.56B | 6.50B | 6.96B | 6.22B | 7.01B | 8.38B |
| EBIT Margin | 28.60% | 25.09% | 27.35% | 27.24% | 30.78% | 36.70% |
| Effective Tax Rate | 28.54% | 34.85% | 36.45% | 37.70% | 33.61% | 30.00% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.33B | 3.82B | 3.92B | 4.76B | 8.15B | 8.07B |
| Cash & Short-Term Investments | 4.33B | 3.82B | 3.92B | 4.76B | 8.15B | 8.07B |
| Accounts Receivable | 880.00M | 977.00M | 578.00M | 1.21B | 1.34B | 1.17B |
| Other Receivables | 748.00M | 686.00M | 564.00M | 455.00M | 459.00M | 574.00M |
| Receivables | 1.63B | 1.66B | 1.14B | 1.66B | 1.79B | 1.74B |
| Inventory | 8.43B | 7.49B | 6.81B | 6.06B | 5.18B | 4.50B |
| Restricted Cash | 279.00M | 230.00M | 888.00M | 1.21B | 111.00M | 114.00M |
| Other Current Assets | 629.00M | 580.00M | 535.00M | 375.00M | 381.00M | 409.00M |
| Total Current Assets | 15.30B | 13.79B | 13.30B | 14.06B | 15.61B | 14.83B |
| Property, Plant & Equipment | 42.33B | 40.74B | 38.51B | 35.30B | 32.63B | 30.34B |
| Long-Term Investments | 477.00M | 456.00M | 207.00M | 262.00M | 232.00M | |
| Other Intangible Assets | 432.00M | 428.00M | 422.00M | 416.00M | 412.00M | |
| Other Long-Term Assets | 3.85B | 2.73B | 2.15B | 2.28B | 2.07B | 2.17B |
| Total Assets | 61.48B | 58.17B | 54.85B | 52.51B | 51.09B | 48.02B |
| Accounts Payable | 4.73B | 2.95B | 2.79B | 2.47B | 2.70B | 2.04B |
| Accrued Expenses | 374.00M | 1.13B | 1.10B | 1.08B | 1.13B | 1.09B |
| Current Portion of Long-Term Debt | 1.68B | 466.00M | 41.00M | 766.00M | 1.04B | 372.00M |
| Current Portion of Leases | 103.00M | 98.00M | 84.00M | 38.00M | 38.00M | |
| Current Income Taxes Payable | 590.00M | 456.00M | 859.00M | 786.00M | 744.00M | 1.54B |
| Current Unearned Revenue | 106.00M | 91.00M | 161.00M | 76.00M | 191.00M | |
| Other Current Liabilities | 218.00M | 811.00M | 518.00M | 472.00M | 623.00M | 627.00M |
| Total Current Liabilities | 7.59B | 6.02B | 5.50B | 5.82B | 6.34B | 5.89B |
| Long-Term Debt | 7.72B | 8.91B | 8.91B | 8.66B | 9.58B | 9.08B |
| Long-Term Leases | 958.00M | 1.01B | 692.00M | 347.00M | 294.00M | 281.00M |
| Pension & Post-Retirement Benefits | 770.00M | 689.00M | 704.00M | 775.00M | 845.00M | |
| Long-Term Deferred Tax Liabilities | 4.77B | 4.62B | 4.38B | 4.45B | 4.27B | 4.23B |
| Other Long-Term Liabilities | 6.83B | 6.07B | 5.91B | 5.22B | 4.96B | 4.67B |
| Total Liabilities | 27.87B | 27.40B | 26.07B | 25.20B | 26.22B | 25.00B |
| Common Stock | 163.00M | 163.00M | 162.00M | 162.00M | 161.00M | 160.00M |
| Additional Paid-In Capital | 23.67B | 23.68B | 23.80B | 24.64B | 25.32B | 25.88B |
| Retained Earnings | 3.77B | 1.39B | -170.00M | -2.06B | -3.91B | -7.38B |
| Treasury Stock | -6.33B | -6.02B | -5.89B | -5.77B | -5.70B | -4.29B |
| Comprehensive Income & Other | -302.00M | -305.00M | -314.00M | -274.00M | -320.00M | -388.00M |
| Total Common Equity | 20.98B | 18.90B | 17.58B | 16.69B | 15.55B | 13.98B |
| Minority Interest | 12.63B | 11.87B | 11.20B | 10.62B | 9.32B | 9.04B |
| Shareholders' Equity | 33.61B | 30.77B | 28.78B | 27.31B | 24.87B | 23.02B |
| Total Liabilities & Equity | 61.48B | 58.17B | 54.85B | 52.51B | 51.09B | 48.02B |
| Total Debt | 10.36B | 10.49B | 9.74B | 9.85B | 10.95B | 9.77B |
| Net Cash (Debt) | -6.02B | -6.67B | -5.82B | -5.09B | -2.81B | -1.70B |
| Net Cash Per Share | -4.17 | -4.62 | -4.02 | -3.53 | -1.93 | -1.15 |
| Filing Date Shares Outstanding | 1.40B | 1.44B | 1.44B | 1.43B | 1.43B | 1.45B |
| Total Common Shares Outstanding | 1.40B | 1.44B | 1.44B | 1.44B | 1.43B | 1.46B |
| Working Capital | 7.72B | 7.77B | 7.80B | 8.25B | 9.27B | 8.94B |
| Book Value Per Share | 14.99 | 13.16 | 12.23 | 11.63 | 10.88 | 9.60 |
| Tangible Book Value | 20.98B | 18.47B | 17.15B | 16.27B | 15.14B | 13.57B |
| Tangible Book Value Per Share | 14.99 | 12.86 | 11.94 | 11.34 | 10.59 | 9.31 |
| Buildings | 12.05B | 10.67B | 10.16B | 9.75B | 9.41B | |
| Machinery | 27.90B | 21.92B | 20.23B | 19.55B | 19.00B | |
| Construction In Progress | 5.52B | 9.38B | 6.95B | 4.42B | 2.48B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.44B | 2.20B | 1.89B | 1.85B | 3.47B | 4.31B |
| Depreciation & Amortization | 2.40B | 2.60B | 2.60B | 2.27B | 2.26B | 2.21B |
| Loss (Gain) From Sale of Assets | -2.00M | -80.00M | ||||
| Stock-Based Compensation | 154.00M | 121.00M | 109.00M | 109.00M | 95.00M | 98.00M |
| Other Operating Activities | 1.90B | 2.02B | 2.60B | 1.93B | 914.00M | 430.00M |
| Change in Accounts Receivable | -143.00M | -521.00M | 460.00M | 166.00M | 56.00M | -472.00M |
| Change in Inventory | -1.20B | -709.00M | -638.00M | -873.00M | -573.00M | -618.00M |
| Change in Accounts Payable | 455.00M | 802.00M | 143.00M | -161.00M | -73.00M | 487.00M |
| Change in Income Taxes | -643.00M | -855.00M | 47.00M | 17.00M | -999.00M | 1.45B |
| Change in Other Net Operating Assets | -170.00M | -55.00M | -41.00M | -29.00M | -12.00M | -101.00M |
| Operating Cash Flow | 6.19B | 5.61B | 7.16B | 5.28B | 5.14B | 7.71B |
| Capital Expenditures | -4.24B | -4.49B | -4.81B | -4.82B | -3.47B | -2.12B |
| Sale of Property, Plant & Equipment | 48.00M | 247.00M | ||||
| Cash Acquisitions | -107.00M | -210.00M | -33.00M | |||
| Divestitures | 60.00M | |||||
| Other Investing Activities | 30.00M | 22.00M | 18.00M | -3.00M | -14.00M | -27.00M |
| Investing Cash Flow | -4.32B | -4.47B | -5.03B | -4.96B | -3.44B | -1.96B |
| Long-Term Debt Issued | 3.19B | 2.25B | 1.78B | 5.74B | 1.20B | |
| Long-Term Debt Repaid | -2.81B | -2.77B | -2.98B | -4.52B | -1.46B | |
| Net Debt Issued (Repaid) | 51.00M | 381.00M | -521.00M | -1.20B | 1.21B | -260.00M |
| Issuance of Common Stock | 33.00M | 12.00M | 29.00M | 47.00M | 125.00M | 210.00M |
| Repurchase of Common Stock | -350.00M | -130.00M | -94.00M | -50.00M | -1.40B | -517.00M |
| Common Dividends Paid | -866.00M | -865.00M | -865.00M | -863.00M | -866.00M | -331.00M |
| Other Financing Activities | -636.00M | -1.27B | -1.83B | -582.00M | -693.00M | -442.00M |
| Financing Cash Flow | -1.77B | -1.88B | -3.28B | -2.65B | -1.62B | -1.34B |
| Net Cash Flow | 106.00M | -738.00M | -1.15B | -2.33B | 76.00M | 4.41B |
| Free Cash Flow | 1.95B | 1.12B | 2.35B | 455.00M | 1.67B | 5.60B |
| Free Cash Flow Margin | 7.38% | 4.31% | 9.24% | 1.99% | 7.33% | 24.51% |
| Free Cash Flow Per Share | 1.35 | 0.77 | 1.63 | 0.32 | 1.15 | 3.78 |
| Levered Free Cash Flow | 1.87B | 1.56B | 2.37B | -1.02B | 2.00B | 6.11B |
| Unlevered Free Cash Flow | 2.08B | 1.79B | 2.57B | -695.38M | 2.35B | 6.46B |
| Cash Interest Paid | 256.00M | 256.00M | 206.00M | 419.00M | 417.00M | 640.00M |
| Cash Income Tax Paid | 2.90B | 2.90B | 2.55B | 2.01B | 3.05B | 1.19B |
| Change in Working Capital | -1.70B | -1.34B | -29.00M | -880.00M | -1.60B | 747.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 92.29B | 72.93B | 54.72B | 61.04B | 54.31B | 61.28B |
| Enterprise Value | 98.31B | 89.62B | 70.72B | 74.92B | 65.65B | 72.45B |
| Last Close Price | 62.47 | 50.32 | 37.16 | 41.02 | 36.08 | 38.94 |
| PE Ratio | 27.00 | 33.20 | 29.06 | 33.14 | 15.69 | 14.25 |
| Forward PE | 15.76 | 27.53 | 21.51 | 25.31 | 20.80 | 12.21 |
| PS Ratio | 3.50 | 2.81 | 2.15 | 2.67 | 2.38 | 2.68 |
| PB Ratio | 4.17 | 2.37 | 1.90 | 2.23 | 2.18 | 2.66 |
| P/TBV Ratio | 4.41 | 3.95 | 3.19 | 3.75 | 3.59 | 4.52 |
| P/FCF Ratio | 47.40 | 65.35 | 23.27 | 134.16 | 32.52 | 10.94 |
| P/OCF Ratio | 14.94 | 13.00 | 7.64 | 11.56 | 10.57 | 7.94 |
| PEG Ratio | 0.42 | 0.89 | 0.82 | 7.23 | 0.13 | 0.13 |
| EV/Sales Ratio | 3.73 | 3.46 | 2.78 | 3.28 | 2.88 | 3.17 |
| EV/EBITDA Ratio | 9.89 | 9.85 | 7.40 | 8.81 | 7.08 | 6.84 |
| EV/EBIT Ratio | 13.03 | 13.78 | 10.16 | 12.04 | 9.36 | 8.64 |
| EV/FCF Ratio | 50.49 | 80.31 | 30.07 | 164.66 | 39.31 | 12.94 |
| Debt / Equity Ratio | 0.31 | 0.34 | 0.34 | 0.36 | 0.44 | 0.42 |
| Debt / EBITDA Ratio | 1.02 | 1.13 | 1.00 | 1.14 | 1.16 | 0.91 |
| Debt / FCF Ratio | 5.31 | 9.40 | 4.14 | 21.66 | 6.56 | 1.74 |
| Net Debt / Equity Ratio | 0.18 | 0.22 | 0.20 | 0.19 | 0.11 | 0.07 |
| Net Debt / EBITDA Ratio | 0.60 | 0.73 | 0.61 | 0.60 | 0.30 | 0.16 |
| Net Debt / FCF Ratio | 3.09 | 5.97 | 2.47 | 11.20 | 1.68 | 0.30 |
| Asset Turnover | 0.45 | 0.46 | 0.47 | 0.44 | 0.46 | 0.51 |
| Inventory Turnover | 2.10 | 2.28 | 2.39 | 2.41 | 2.70 | 2.85 |
| Quick Ratio | 0.79 | 0.91 | 0.92 | 1.10 | 1.57 | 1.67 |
| Current Ratio | 2.02 | 2.29 | 2.42 | 2.42 | 2.46 | 2.52 |
| Return on Equity (ROE) | 15.72% | 13.95% | 15.69% | 14.38% | 18.70% | 25.74% |
| Return on Assets (ROA) | 7.99% | 7.19% | 8.11% | 7.51% | 8.84% | 11.62% |
| Return on Invested Capital (ROIC) | 13.83% | 11.76% | 13.21% | 12.91% | 17.77% | 23.64% |
| Return on Capital Employed (ROCE) | 14.00% | 12.50% | 14.10% | 13.30% | 15.70% | 19.90% |
| Earnings Yield | 3.70% | 3.02% | 3.45% | 3.03% | 6.39% | 7.03% |
| FCF Yield | 2.11% | 1.53% | 4.30% | 0.74% | 3.08% | 9.14% |
| Dividend Yield | 0.93% | 1.18% | 1.58% | 1.41% | 1.58% | 0.89% |
| Payout Ratio | 25.21% | 39.25% | 45.79% | 46.70% | 24.97% | 7.69% |
| Buyback Yield / Dilution | 0.07% | 0.14% | -0.14% | 0.55% | 2.09% | -1.44% |
| Total Shareholder Return | 1.01% | 1.32% | 1.44% | 1.96% | 3.67% | -0.55% |