Freeport-McMoRan Inc. (FCX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.62	$0.74	+19.4%	—	—	—
Q2 26	$0.47	$0.57	+21.3%	—	—	—
Q1 26	$0.32	$0.47	+46.9%	—	—	—
Q4 25	$0.41	$0.5	+22.0%	—	—	—
Q3 25	$0.44	$0.54	+22.7%	—	—	—
Q2 25	$0.23	$0.24	+4.3%	—	—	—
Q1 25	$0.22	$0.31	+40.9%	—	—	—
Q4 24	$0.37	$0.38	+2.7%	—	—	—
Q3 24	$0.38	$0.46	+21.1%	—	—	—
Q2 24	$0.28	$0.32	+14.3%	—	—	—
Q1 24	$0.23	$0.27	+17.4%	—	—	—
Q4 23	$0.34	$0.39	+14.7%	—	—	—
Q3 23	$0.36	$0.35	-2.8%	—	—	—
Q2 23	$0.45	$0.52	+15.6%	—	—	—
Q1 23	$0.47	$0.52	+10.6%	—	—	—
Q4 22	$0.27	$0.26	-3.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.54	—	—	$25.9B	—
FY24	—	$1.31	—	—	$25.5B	—
FY23	—	$1.29	—	—	$22.9B	—
FY22	—	$2.43	—	—	$22.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$14.8B	$16.4B	$18.6B	$14.4B	$14.2B	$22.8B	$22.8B	$22.9B	$25.5B	$25.9B
YoY change	+1.53%	+10.6%	+13.6%	-22.7%	-1.42%	+60.9%	-0.28%	+0.33%	+11.4%	+1.81%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	14.8B	16.4B	18.6B	14.4B	14.2B	22.8B	22.8B	22.9B	25.5B	25.9B
Cost of revenue	17.5B	12B	13.5B	13.1B	11.7B	14B	15.1B	15.7B	17.8B	18.6B
Gross profit	-2.7B	4.4B	5.2B	1.3B	2.5B	8.8B	7.7B	7.2B	7.7B	7.3B
Gross margin	-18.2%	27%	27.7%	8.87%	17.9%	38.6%	33.8%	31.3%	30.1%	28.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	597M	477M	422M	394M	370M	383M	420M	479M	513M	545M
Operating expenses	674M	814M	616M	603M	579M	529M	656M	935M	796M	795M
Operating income	-3.4B	3.6B	4.5B	674M	2B	8.3B	7B	6.2B	6.9B	6.5B
Operating margin	-22.8%	22%	24.4%	4.68%	13.8%	36.3%	30.9%	27.2%	27%	25.1%
Non-operating income, net	661M	94M	291M	252M	431M	-25M	240M	296M	362M	239M
Pretax income	-3.5B	2.9B	3.9B	306M	1.8B	7.7B	6.7B	6B	6.9B	6.4B
Income tax	371M	883M	991M	510M	944M	2.3B	2.3B	2.3B	2.5B	2.2B
Net income	-4B	2.1B	2.9B	-189M	865M	5.4B	4.5B	3.8B	4.4B	4.2B
Net margin	-27.1%	12.8%	15.5%	-1.31%	6.09%	23.5%	19.7%	16.4%	17.3%	16%
EBITDA	-782M	5.3B	6.4B	1.9B	3.6B	10.2B	9.3B	8.6B	9.5B	9B
EPS	-3.16	1.25	1.56	-0.16	0.41	2.96	2.43	1.29	1.31	1.54
Diluted EPS	-3.16	1.25	1.55	-0.17	0.41	2.9	2.39	1.28	1.3	1.52

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.8B	5.9B	6.3B	6.6B	6.8B	5.7B	5.7B	7.6B	7B	5.6B	6.2B	7B
Cost of revenue	4.1B	3.9B	4.4B	4.4B	4.7B	4.3B	4.2B	5B	4.8B	4.6B	4.6B	4.8B
Gross profit	1.7B	2B	1.9B	2.2B	2.1B	1.4B	1.5B	2.6B	2.1B	1B	1.7B	2.2B
Gross margin	29.8%	33.1%	29.8%	33.8%	31.1%	24.9%	26.3%	34.7%	30.7%	18.1%	26.5%	31.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	118M	120M	144M	123M	117M	129M	154M	127M	131M	133M	162M	135M
Operating expenses	246M	234M	248M	191M	175M	182M	203M	200M	186M	206M	217M	201M
Operating income	1.5B	1.7B	1.6B	2B	1.9B	1.2B	1.3B	2.4B	2B	811M	1.4B	2B
Operating margin	25.6%	29.2%	25.9%	30.9%	28.5%	21.7%	22.7%	32.1%	28.1%	14.4%	23.1%	28.2%
Non-operating income, net	76M	103M	129M	69M	97M	67M	58M	41M	75M	65M	710M	40M
Pretax income	1.5B	1.7B	1.7B	2B	2B	1.2B	1.3B	2.4B	1.9B	766M	2B	1.9B
Income tax	508M	724M	512M	754M	737M	520M	500M	850M	669M	202M	653M	544M
Net income	964M	1B	1.2B	1.3B	1.2B	721M	793M	1.5B	1.2B	565M	1.4B	1.4B
Net margin	16.6%	17.1%	18.4%	19.3%	18.2%	12.6%	13.8%	20.4%	17.9%	10%	22.2%	19.8%
EBITDA	2.1B	2.4B	2.4B	2.6B	2.6B	1.8B	1.8B	3.1B	2.6B	1.4B	2B	2.5B
EPS	0.32	0.27	0.33	0.43	0.37	0.19	0.24	0.54	0.47	0.28	0.61	0.69
Diluted EPS	0.31	0.27	0.32	0.42	0.36	0.19	0.24	0.53	0.46	0.28	0.61	0.68

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	27.4B	14.9B	19B	37.9B	60.8B	54.3B	61.1B	54.7B	72.8B	103.3B
Enterprise value	—	36.1B	21.9B	27.1B	44.2B	62.5B	57.1B	66.2B	60.5B	79.5B	122.2B
Shares outstanding	1.3B	1.4B	1.4B	1.5B	1.5B	1.5B	1.4B	1.4B	1.4B	1.4B	1.4B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	13.1	5.16	—	43.9	11.3	12.1	16.3	12.4	17.5	35.2
P/S	—	1.67	0.8	1.32	2.67	2.66	2.39	2.67	2.15	2.81	3.99
P/B	—	2.43	0.83	1.09	2.03	2.64	2.18	2.24	1.9	2.37	5.13
EV/EBITDA	—	6.8	3.43	13.9	12.5	6.14	6.17	7.71	6.39	8.86	12.8
EV/Sales	—	2.2	1.17	1.88	3.11	2.74	2.51	2.9	2.38	3.07	4.72
Earnings yield	—	7.64%	19.4%	—	2.28%	8.82%	8.24%	6.14%	8.04%	5.7%	2.84%
FCF yield	—	11.9%	12.7%	-6.15%	2.78%	9.21%	3.07%	0.74%	4.3%	1.53%	2.09%
PEG	—	—	—	—	—	—	—	—	—	—	1.29

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	-18.2%	27%	27.7%	8.87%	17.9%	38.6%	33.8%	31.3%	30.1%	28.2%	31.1%
Operating margin	-22.8%	22%	24.4%	4.68%	13.8%	36.3%	30.9%	27.2%	27%	25.1%	33.4%
Net margin	-27.1%	12.8%	15.5%	-1.31%	6.09%	23.5%	19.7%	16.4%	17.3%	16%	11.4%
ROE	-43.5%	18.5%	16.2%	-1.08%	4.63%	23.3%	18%	13.7%	15.3%	13.5%	14.8%
ROA	-10.8%	5.62%	6.86%	-0.46%	2.05%	11.2%	8.77%	7.14%	8.02%	7.14%	7.58%
ROIC	-16.1%	12.6%	13.7%	0%	3.74%	23.5%	16.8%	11.9%	12.6%	11.3%	11.1%
Return on tangible assets	-11%	5.71%	6.99%	-0.47%	2.09%	11.4%	8.91%	7.26%	8.15%	7.25%	7.68%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.45	2.16	3.14	2.47	2.72	2.52	2.46	2.42	2.42	2.29	2.07
Quick ratio	1.59	1.32	1.79	1.2	1.58	1.75	1.64	1.38	1.18	1.05	0.92
Debt / equity	1.73	1.17	0.62	0.58	0.53	0.42	0.44	0.36	0.34	0.34	0.32
Debt / assets	0.43	0.35	0.26	0.25	0.24	0.2	0.21	0.19	0.18	0.18	0.17
Net debt / EBITDA	-15.1	1.64	1.09	4.13	1.77	0.17	0.3	0.59	0.61	0.74	0.74
Interest coverage	-3.6	4.62	5.12	1.49	4.01	13.7	13	12.7	22.7	18.3	16.6
Effective tax rate	0%	30.4%	25.5%	100%	52.5%	30%	33.8%	37.8%	36.5%	34.9%	31.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	11.3	11.3	12.9	9.93	9.74	15.7	15.9	15.9	17.7	18.1	18
EPS (basic)	-3.16	1.25	1.56	-0.16	0.41	2.96	2.43	1.29	1.31	1.54	1.54
EPS (diluted)	-3.16	1.25	1.55	-0.17	0.41	2.9	2.39	1.28	1.3	1.52	2.04
Book value per share	7.02	7.81	12.3	12	12.8	15.8	17.4	19	20	21.5	14
FCF per share	0.7	2.25	1.31	-0.81	0.72	3.84	1.17	0.32	1.64	0.78	1.22
Cash per share	3.22	3.13	2.91	1.39	2.51	5.54	5.7	3.32	2.73	2.67	2.84
Capex per share	1.72	0	0	0	0.38	—	—	—	—	3.14	2.87

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	15.3%	0%	0%	0%	3.87%	—	—	—	—	17.3%	16%
Capex / operating cash flow	-1.5K%	0%	0%	0%	18.8%	—	—	—	—	80.1%	70.1%
Payout ratio	-0.15%	0.1%	7.53%	-154%	8.44%	6.17%	19.3%	23%	19.7%	20.8%	29.4%
Dividend yield	—	0.01%	1.46%	1.53%	0.19%	0.54%	1.59%	1.41%	1.58%	1.19%	0.83%

Yield

0.83%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Jul 15, 2026

Payout ratio

29%

of earnings

Dividend growth

1 year

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 15, 2026	$0.15
Apr 15, 2026	$0.15
Jan 15, 2026	$0.15

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.8B	$5.9B	$6.3B	$6.6B	$6.8B	$5.7B	$5.7B	$7.6B	$7B	$5.6B	$6.2B	$7B
YoY change	+16.4%	+2.55%	+17.3%	+15.5%	+16.6%	-3.13%	-9.38%	+14.5%	+2.68%	-1.52%	+8.83%	-7.29%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.2B	4.5B	4.2B	2B	3.7B	8.1B	8.1B	4.8B	3.9B	3.8B
Receivables	1.1B	1.3B	829M	741M	892M	1.2B	1.3B	1.2B	578M	977M
Inventory	3.6B	4.1B	4.5B	4.1B	3.9B	4.5B	5.2B	6.1B	6.8B	7.5B
Total current assets	10.4B	10.6B	10.5B	7.9B	9.3B	14.8B	15.6B	14.1B	13.3B	13.8B
Property, plant & equipment	-21.9B	-22.7B	-23.1B	-21.9B	-24.9B	-25.2B	-24.3B	-22.2B	-20B	7.7B
Goodwill & intangibles	610M	614M	796M	804M	802M	824M	832M	844M	856M	864M
Total assets	37.3B	37.3B	42.2B	40.8B	42.1B	48B	51.1B	52.5B	54.8B	58.2B
Accounts payable	1.5B	1.5B	1.7B	1.7B	1.5B	2B	2.7B	2.5B	2.8B	2.9B
Short-term debt	1.2B	1.4B	17M	49M	72M	410M	1.1B	850M	139M	569M
Total current liabilities	4.3B	4.9B	3.3B	3.2B	3.4B	5.9B	6.3B	5.8B	5.5B	6B
Long-term debt	14.8B	11.8B	11.1B	10B	9.9B	9.4B	9.9B	9B	9.6B	9.9B
Total liabilities	28.1B	26B	24.3B	23.4B	23.5B	25B	26.2B	25.2B	26.1B	27.4B
Shareholders' equity	9.3B	11.3B	17.9B	17.4B	18.7B	23B	24.9B	27.3B	28.8B	30.8B
Total debt	16B	13.2B	11.1B	10.1B	9.9B	9.8B	11B	9.9B	9.7B	10.5B
Net debt	11.8B	8.7B	6.9B	8.1B	6.3B	1.7B	2.8B	5.1B	5.8B	6.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	5.7B	4.8B	5.2B	5.3B	5B	3.9B	4.4B	4.5B	4.3B	3.8B	3.7B	4.1B
Receivables	792M	1.2B	1.5B	1.1B	979M	578M	743M	941M	916M	977M	681M	716M
Inventory	5.9B	6.1B	6B	6.5B	6.4B	6.8B	7.1B	7B	7B	7.5B	7.4B	7.9B
Total current assets	14.1B	14.1B	14.8B	14.7B	14.5B	13.3B	13.8B	13.6B	13.6B	13.8B	14.1B	14.2B
Property, plant & equipment	—	-22.2B	—	—	—	-20B	—	—	—	7.7B	—	—
Goodwill & intangibles	—	844M	—	—	—	856M	—	—	—	864M	—	—
Total assets	51.6B	52.5B	54.2B	54.6B	55.4B	54.8B	56B	56.5B	56.8B	58.2B	58.8B	59.7B
Accounts payable	3.7B	2.5B	3.7B	3.9B	3.8B	2.8B	4.1B	4.3B	4.1B	2.9B	4.1B	4.6B
Short-term debt	35M	850M	769M	768M	769M	139M	495M	338M	383M	569M	500M	1.2B
Total current liabilities	4.9B	5.8B	6.3B	6.1B	6.2B	5.5B	5.9B	5.5B	5.5B	6B	5.9B	6.9B
Long-term debt	9.4B	9B	8.7B	8.7B	8.9B	9.6B	8.9B	8.9B	8.9B	9.9B	9.9B	9.1B
Total liabilities	25B	25.2B	26.1B	25.9B	26.5B	26.1B	26.8B	26.5B	26.4B	27.4B	27.3B	27.5B
Shareholders' equity	26.7B	27.3B	28.1B	28.7B	28.9B	28.8B	29.2B	30B	30.4B	30.8B	31.5B	32.2B
Total debt	9.4B	9.9B	9.4B	9.4B	9.7B	9.7B	9.4B	9.3B	9.3B	10.5B	10.4B	10.4B
Net debt	3.7B	5.1B	4.2B	4.2B	4.7B	5.8B	5B	4.8B	5B	6.7B	6.7B	6.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-3.8B	2B	2.9B	-189M	865M	5.4B	4.5B	3.8B	4.4B	4.2B
Depreciation & amortization	2.6B	1.7B	1.8B	1.4B	1.5B	2B	2B	2.1B	2.2B	2.2B
Stock-based compensation	86M	71M	76M	63M	99M	98M	95M	109M	109M	121M
Change in working capital	-39M	564M	72M	378M	262M	-704M	-602M	-897M	-76M	-483M
Operating cash flow	-154M	4.4B	4.7B	1.8B	2.9B	6.4B	6.2B	5.2B	7.1B	5.6B
Capital expenditure	2.3B	0	0	0	550M	—	—	—	—	-4.5B
Investing cash flow	6.4B	89M	-3B	549M	1.2B	151M	29M	-132M	-220M	-4.5B
Dividends paid	-6M	-2M	-218M	-291M	-73M	-331M	-866M	-863M	-865M	-865M
Share repurchases	—	—	—	0	0	-488M	-1.3B	0	-59M	-107M
Financing cash flow	-2.5B	-3.1B	900M	-1.6B	-179M	-1.6B	-1.7B	-2.7B	-3.3B	-1.9B
Net change in cash	3.7B	1.4B	2.6B	784M	4B	5B	4.5B	2.4B	3.6B	-750M
Free cash flow	924M	3.3B	1.9B	-1.2B	1.1B	5.6B	1.7B	455M	2.4B	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	964M	1B	1.2B	1.3B	1.2B	721M	793M	1.5B	1.2B	565M	1.4B	1.4B
Depreciation & amortization	533M	589M	595M	509M	600M	537M	466M	668M	625M	485M	514M	523M
Stock-based compensation	17M	20M	53M	24M	17M	15M	54M	20M	24M	23M	68M	35M
Change in working capital	-338M	-536M	-676M	551M	-186M	235M	-332M	394M	-279M	-266M	-145M	-168M
Operating cash flow	1.4B	931M	1.3B	2.4B	1.7B	1.6B	1B	2.6B	1.7B	693M	1.5B	2B
Capital expenditure	—	—	—	—	—	—	—	—	-1.1B	-1B	-973M	-1.1B
Investing cash flow	-41M	-10M	-23M	8M	-3M	8M	-4M	5M	-1B	-1B	-985M	-1.1B
Dividends paid	-215M	-216M	-218M	-215M	-216M	-216M	-218M	-215M	-216M	-216M	-218M	-216M
Share repurchases	0	0	—	—	-59M	0	-55M	-52M	0	0	-93M	-110M
Financing cash flow	-421M	-430M	-346M	-808M	-647M	-1.5B	154M	-1.1B	-829M	-149M	-553M	-517M
Net change in cash	920M	491M	958M	1.6B	1.1B	112M	1.2B	1.6B	-175M	-486M	-43M	446M
Free cash flow	58M	-42M	642M	840M	673M	197M	-114M	934M	608M	-312M	522M	944M

Freeport-McMoRan Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history