FirmAtlas
Company handbook · FCX · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
FCX · CIK 831259 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
Freeport-McMoRan Inc.
$69.54
−0.52 (−0.74%)
Close, Oct 16, 2026 · 52-week $39–80
Freeport-McMoRan mines copper, gold and molybdenum. Its main mines are Grasberg in Indonesia, Morenci and other mines in the U.S. Southwest, and Cerro Verde in Peru.
Business
- ProductsCopper Cathode 31% · Copper In Concentrates 24% · Refined Copper Products 17% · Gold 15% · Molybdenum 8% · Other Products Or Services 3% · Purchased Copper 2% (FY25)
- RegionsUS 35% · Switzerland 21% · Japan 11% · Indonesia 8% · Other 25% (FY25)
- CustomersCopper smelters, refiners and rod and wire makers, and molybdenum users; sold mostly under yearly contracts at prices linked to market prices
- Cash useFY24–FY25: capex $9.3B · dividends $1.7B · buybacks $166M
Reinvested 73% of operating cash flow · returned 55% of free cash flow
Last fiscal year
Freeport-McMoRan Inc. reported revenue of $25.2B for the year ended Dec 31, 2025 (FY25), up 0.1% from FY24. Net income was $2.2B, operating cash flow $5.6B and free cash flow $1.1B. Source: 10-K filed Feb 13, 2026.
Market cap
$100.3B
P/E
34.2
EV/EBITDA
12.1x
P/B
5.0
Div yield
0.86%
ROIC
18.4%
Revenue 1Y
0.1%/yr
EPS 1Y
16.8%/yr
Shares 1Y
−0.1%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOKathleen L. Quirk
HQPhoenix, AZ
AuditorErnst & Young LLP
Employees29,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
21.8%
12.5%
24.7%
66.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$11.2B deployed
Capex
$9.3B
83.1%
Dividends
$1.7B
15.4%
Buybacks
$166M
1.5%
Operating cash flow over the period: $12.8B. Total debt changed by +$856M.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
25,169
25,186+0.1%
25,257
YoY
+0.1%
Gross profit
7,374
6,568−10.9%
6,389
Gross margin
29.3%
26.1%−3.2 pp
—
Operating income
6,864
6,518−5.0%
6,923
Operating margin
27.3%
25.9%−1.4 pp
—
EBITDA
9,105
8,762−3.8%
—
EBITDA margin
36.2%
34.8%−1.4 pp
—
Interest expense
206
256+24.3%
—
Interest coverage
44.20x
34.23x−9.97x
—
Net income
1,883
2,197+16.7%
2,937
YoY
+16.7%
Net margin
7.5%
8.7%+1.2 pp
—
EPS (diluted, $)
1.30
1.52+16.8%
2.04
YoY
+16.8%
Balance sheet
Total assets
54,848
58,167+6.1%
59,727
Cash & short-term investments
4,911
4,173−15.0%
—
Accounts receivable
578
977+69.0%
—
Net PP&E
38,514
40,736+5.8%
—
Other assets
10,845
12,281+13.2%
—
Total liabilities
37,267
39,268+5.4%
39,618
Accounts payable
2,789
2,948+5.7%
—
Total debt
8,989
9,845+9.5%
10,606
Other liabilities
25,489
26,475+3.9%
—
Shareholders’ equity
17,581
18,899+7.5%
20,109
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
7,160
5,610−21.6%
5,900
Net income
4,399
4,152−5.6%
—
Depreciation & amortization
2,241
2,244+0.1%
—
Stock-based compensation
109
121+11.0%
—
Working capital & other
411
(907)−320.7%
—
Cash from investing
(5,028)
(4,472)n/m
—
Capex
(4,808)
(4,494)n/m
—
Other investing
(220)
22n/m
—
Cash from financing
(3,284)
(1,876)n/m
—
Debt raised
2,251
3,195+41.9%
—
Debt repaid
(2,731)
(2,777)n/m
—
Dividends
(865)
(865)n/m
—
Buybacks
(59)
(107)n/m
—
Shares issued
29
12−58.6%
—
Other financing
(1,909)
(1,334)n/m
—
Net change in cash
(1,152)
(738)n/m
—
Free cash flow (OCF − capex)
2,352
1,116−52.6%
—
Where the cash went
Operating cash flow
7,160
5,610−21.6%
5,900
Reinvested in the business
4,808
4,494−6.5%
—
% of operating cash flow
67.2%
80.1%
Capex
4,808
4,494−6.5%
—
Free cash flow
2,352
1,116−52.6%
—
YoY
−52.6%
Returned to shareholders
924
972+5.2%
—
% of free cash flow
39.3%
87.1%
Dividends
865
865+0.0%
—
Buybacks
59
107+81.4%
—
Change in total debt
—
856
—
Cash left over
—
1,000
—
FCF conversion (FCF ÷ net income)
124.9%
50.8%−74.1 pp
—
Owner earnings
—
(293)
—
Owner earnings margin
—
−1.2%
—
Buyback yield
0.1%
0.1%+0.0 pp
—
Returns & ratios
ROIC (all capital)
20.1%
18.4%−1.7 pp
—
ROIC (operating)
12.0%
11.3%−0.7 pp
—
Net debt / EBITDA
0.45x
0.65x+0.20x
—
Debt / equity
0.51x
0.52x+0.01x
—
ROE
10.7%
11.6%+0.9 pp
—
ROA
3.4%
3.8%+0.3 pp
—
ROCE
13.9%
12.5%−1.4 pp
—
NOPAT
4,357
4,246−2.5%
—
Invested capital (operating)
36,303
38,765+6.8%
—
Invested capital (all)
21,659
24,571+13.4%
—
Reinvestment rate
—
58.0%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
6,819
5,267
6,254
6,917
vs year-ago quarter
Gross profit
1,989
651
1,675
2,074
Gross margin
29.2%
12.4%
26.8%
30.0%
Operating income
1,972
811
2,137
2,003
Net income
667
412
874
984
vs year-ago quarter
Net margin
9.8%
7.8%
14.0%
14.2%
EPS (diluted, $)
0.46
0.29
0.61
0.68
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
56,828
58,167
58,840
59,727
Cash & equivalents
4,653
4,173
4,149
4,491
Total debt
9,298
9,845
9,914
10,606
Shareholders’ equity
18,685
18,899
19,505
20,109
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,664
693
1,495
2,048
Capex
1,056
1,005
973
—
Free cash flow
608
(312)
522
—
vs year-ago quarter