— Know what they know.
/
Not Investment Advice

FCX

NYSE · USD
Freeport-McMoRan Inc.
Basic Materials · Copper
CEO Kathleen L. Quirk Employees 29,000 R&D / revenue 0.0%
Last price
$69.54−0.74%last session
Market cap
$100.0B
P/E (TTM)
34.3x
From 52w high
−13.3%
From 52w low
+80.4%
1-year return
+66.7%
RSI 14 · vs SMA200
43.8 · +7.6%
IS score
71.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

FCX   SPY   XLB (sector ETF) · weekly closes
100120140160180Jan 26Apr 26Jul 26Oct 26FCX 167XLB 118SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
55
Profitability
57
Growth
54
Value
85
Momentum
80
Risk (safety)
74
Quality
73
Balance sheet
87
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for FCX (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 5 / 9Altman Z 3.0Beta 1.403 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
5 open-market sales, $8.4M
Form 144 notices (12m): 13, $32.2M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-07-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+35
195 new holders, 130 closed
1,893 filers hold 86.9% · 847 added, 606 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+164
1,184 funds adding shares
1,020 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
39.1%
20-day avg 48.4%, 50-day avg 45.5%
Latest 9.3 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$25.7B
Revenue growth YoY+1.1%
Gross margin27.0%
Operating income$6.3B
Operating margin24.4%
Net income$2.2B
Net margin8.6%
EPS (diluted)$1.52
Cash flow
Operating cash flow$5.6B
Capital expenditure$4.5B
Free cash flow$1.1B
FCF conversion (FCF / OCF)19.9%
Stock-based compensation$0
FCF less SBC$1.1B
Buybacks$107.0M
Dividends$865.0M
Balance sheet & returns
Cash & short-term investments$4.1B
Total debt$10.5B
Net debt$6.4B
Shareholders' equity$30.8B
Goodwill & intangibles$432.0M
Debt / equity0.52
ROE (TTM)15.3%
ROIC (TTM)8.8%
Operating margin by fiscal year
35.1%FY202132.6%FY202226.8%FY202326.0%FY202424.4%FY2025
Revenue $22.4B (FY2021) to $25.7B (FY2025), a 3.6% CAGR.

Valuation

P/E (TTM)34.3x
EV / EBITDA11.8x
Price / sales3.86x
Price / FCF16.9x
FCF yield5.92%
Buyback yield0.11%
SBC / revenue0.6%
Price / book4.99x
Forward P/E FY202622.2x
Forward P/E FY202716.3x
Forward P/E FY202814.7x
Forward multiples divide today's price by Street EPS estimates. Street mean target $74.50 across 8 analysts last quarter is theirs, not ours.

FCX vs industry median

52 companies in Copper
Gross margin 26.8% 40.9% Operating margin 26.7% 30.9% Net margin 11.4% 16.2% ROIC 8.8% -1.4%
FCX (TTM)Industry median Asset turnover 0.43 vs industry 0.00 · financial leverage 2.97

Earnings delivery

Next report 2026-10-27 · consensus EPS $0.80
92%
beat rate, 11 of 12 quarters
+20.2%
median EPS surprise
6
longest beat streak
+15+23+23+21+6-14+1+20+19+65+22+20
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-19 to 2026-07-23. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
FCX Freeport-McMoRan Inc. $100.0B34.3x15.3%11.4%+1.1% +66.7%
SCCO Southern Copper Corporation $169.3B29.4x50.1%38.9%+32.8% +51.4%
HBM Hudbay Minerals Inc. $10.5B14.0x17.6%20.6%+13.0% +36.9%
AEM Agnico Eagle Mines Limited $96.0B16.3x22.8%42.1%+49.8% +2.4%
JCI Johnson Controls Internation $88.1B25.2x24.4%11.3%+6.8% +33.0%
SHW The Sherwin-Williams Company $81.4B30.6x65.1%12.4%+5.8% —
ECL Ecolab Inc. $81.0B38.5x21.8%12.1%+7.1% —
NEM Newmont Corporation $125.0B14.9x25.5%36.0%+23.4% —
12-month window: SPY +15.9%, sector ETF XLB +17.8%. Past returns describe history only.

Recent 8-K filings

2026-10-02Earnings Release; Regulation FD; Exhibits
2026-09-08Other Events
2026-07-23Earnings Release; Regulation FD; Exhibits
2026-06-10Shareholder Vote
2026-05-20Material Agreement; Termination of Agreement; Financial Obligation; Exhibits
2026-04-23Earnings Release; Regulation FD; Exhibits

Context

Shares outstanding1,437,559,865
Free float99.4%
Institutional ownership86.9%
Beta1.40
Dividend yield0.86%
Last dividend$0.15 on 2026-10-15
50 / 200-day average$72.01 / $64.59
Large-cap Basic Materials median P/E30.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where FCX sits among 6 scored companies in Copper (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureFCXIndustry medianIndustry percentileSector median
P/E (TTM) 33.9x 29.9x
75th		 19.5x
PEG (P/E ÷ 3-yr EPS CAGR) 2.81 — 0.89
Price / sales 3.9x 4.0x
40th		 1.9x
Price / book 5.0x 3.9x
80th		 2.3x
Price / tangible book 4.5x 3.6x
80th		 3.3x
Price / free cash flow 16.9x 23.2x
25th		 16.3x
Price / operating cash flow 16.9x 13.3x
75th		 9.6x
Enterprise value $106.2B $7.2B
80th		 $5.4B
EV / sales 4.1x 4.2x
40th		 2.0x
EV / EBITDA 11.8x 12.5x
40th		 10.8x
EV / EBIT 15.5x 17.2x
40th		 14.7x
EV / free cash flow 18.0x 26.3x
25th		 21.6x
Earnings yield 2.9% 3.1%
40th		 3.9%
FCF yield 5.9% 3.9%
80th		 4.3%
Operating cash flow yield 5.9% 6.7%
40th		 9.8%
Graham number (per share) $25.30 $25.30
50th		 $36.55

Profitability (TTM)

MeasureFCXIndustry medianIndustry percentileSector median
Gross margin 26.8% 39.0%
0th		 32.1%
EBITDA margin 34.8% 56.0%
25th		 19.0%
Operating margin 26.7% 34.0%
20th		 13.8%
EBIT margin 26.5% 40.1%
25th		 12.3%
Net margin 11.4% 19.3%
40th		 6.8%
NOPAT margin 18.4% 25.6%
25th		 10.1%
FCF margin 22.9% 18.8%
60th		 6.4%
Operating cash flow margin 22.9% 37.1%
20th		 15.6%
R&D / revenue 0.4% 0.1%
80th		 0.0%
SG&A / revenue 2.2% 4.7%
20th		 9.4%
Stock comp / revenue 0.6% 1.7%
40th		 0.4%
Effective tax rate 31.1% 35.8%
25th		 22.5%

Returns on capital

MeasureFCXIndustry medianIndustry percentileSector median
ROE (on average equity) 15.4% 16.5%
40th		 12.1%
ROA 5.1% 7.5%
40th		 5.0%
ROIC 18.0% 18.1%
40th		 9.8%
ROCE 13.0% 14.7%
40th		 9.7%
Return on tangible assets 11.8% 14.8%
40th		 8.5%
Cash ROIC (OCF / invested capital) 22.4% 24.4%
40th		 14.9%
Gross profitability (GP / assets) 11.6% 14.7%
20th		 17.5%
ROIC, 3-yr average 9.8% 8.9%
60th		 6.5%
ROIC, 5-yr average 13.6% 8.5%
80th		 8.1%
ROE, 5-yr average 16.3% 10.9%
60th		 9.1%
Incremental ROIC 114.3% 44.5%
100th		 28.3%

Growth

MeasureFCXIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 0.7% 22.9%
20th		 9.7%
Revenue growth (QoQ) 12.8% 0.0%
100th		 9.5%
Revenue CAGR, 3 yr 5.8% 20.6%
20th		 2.3%
Revenue CAGR, 5 yr 7.3% 12.9%
0th		 7.3%
Gross profit CAGR, 3 yr 4.3% 43.7%
0th		 5.4%
Operating income CAGR, 3 yr 8.2% 65.9%
0th		 7.8%
Net income growth (TTM YoY) 54.0% — 45.4%
Net income CAGR, 3 yr 12.1% — 7.3%
EPS growth (TTM YoY) 54.1% — 44.1%
EPS CAGR, 3 yr 12.1% — 8.0%
EPS CAGR, 5 yr 1.4% — 11.5%
FCF growth (TTM YoY) 43.6% — 19.4%
FCF CAGR, 3 yr 149.1% — 3.8%
Operating cash flow CAGR, 3 yr 9.2% 30.4%
0th		 7.7%
Book value CAGR, 3 yr 7.4% 15.9%
0th		 6.5%
Dividend CAGR, 3 yr -36.1% — 2.6%
Sustainable growth rate 14.2% 17.4%
25th		 13.5%

Margin history & stability

MeasureFCXIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 28.5% 36.7%
25th		 29.8%
Operating margin, 3-yr average 26.6% 26.9%
40th		 12.0%
Net margin, 3-yr average 8.9% 11.8%
40th		 6.3%
FCF margin, 3-yr average 15.0% 15.0%
50th		 7.1%
Revenue stability (0-1) 0.96 0.74
100th		 0.60
Earnings stability (0-1) 0.16 0.11
60th		 0.41
Margin stability (0-1) 0.95 0.71
100th		 0.83

Liquidity (latest quarter)

MeasureFCXIndustry medianIndustry percentileSector median
Cash & short-term investments $4.1B $598.4M
80th		 $245.7M
Net cash (− = net debt) −$6.3B −$436.2M
0th		 −$465.1M
Working capital $7.3B $483.8M
80th		 $531.5M
Current ratio 2.07 2.15
40th		 2.08
Quick ratio 0.92 1.42
40th		 1.42
Cash ratio (cash + ST investments / current liabilities) 0.60 1.10
20th		 0.45
Defensive interval (days) —

Leverage & solvency (latest quarter)

MeasureFCXIndustry medianIndustry percentileSector median
Total debt $10.4B $742.7M
100th		 $807.4M
Debt / equity 0.52 0.49
60th		 0.50
Net debt / equity 0.31 0.20
60th		 0.30
Debt / assets 17.3% 22.0%
40th		 24.4%
Debt / capital 34.0% 33.0%
60th		 33.5%
Debt / EBITDA 1.15 1.06
60th		 1.80
Net debt / EBITDA 0.70 0.41
60th		 1.17
Interest coverage (EBIT / interest) 16.1x 14.9x
60th		 6.7x
Cash interest coverage 13.9x 12.6x
60th		 7.7x
Debt payback (years of OCF) 1.8 yrs 1.3 yrs
100th		 2.6 yrs
Liabilities / assets 46.1% 44.8%
60th		 47.8%
IS credit model rating AA — —
Implied credit spread (bps) 80 90
20th		 162

Efficiency

MeasureFCXIndustry medianIndustry percentileSector median
Asset turnover 0.45 0.44
60th		 0.66
Fixed asset turnover 0.62 0.57
80th		 1.53
Inventory turnover 2.6 5.8
0th		 4.9
Receivables turnover 31.2 31.2
60th		 8.7
Days sales outstanding 12 days 12 days
40th		 42 days
Days inventory outstanding 143 days 63 days
100th		 74 days
Days payables outstanding 86 days 72 days
80th		 49 days
Cash conversion cycle (days) 69 days 7 days
100th		 61 days
Capex / revenue 0.0% 18.9%
0th		 7.8%
Capex / depreciation 0.00 1.22
0th		 1.09
Operating expense ratio 2.6% 3.2%
25th		 11.3%

Cash flow & earnings quality

MeasureFCXIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.01 1.43
75th		 1.55
FCF / net income 2.01 1.05
75th		 0.89
FCF / operating cash flow 100.0% 65.6%
100th		 52.6%
Capex / operating cash flow 0.0% 34.4%
0th		 47.0%
Accruals ratio -5.1% -5.0%
40th		 -5.6%
Sloan accruals ratio -5.1% 1.0%
0th		 -3.6%
Earnings quality score (0-1) 0.75 0.75
0th		 0.75

Dividends & buybacks

MeasureFCXIndustry medianIndustry percentileSector median
Dividend yield 0.9% 0.1%
80th		 0.9%
Dividend per share (TTM) $0.60 $0.01
80th		 $0.40
Payout ratio (dividends / net income) 7.7% 1.2%
75th		 18.3%
Dividends / FCF 3.8% 3.4%
75th		 17.9%
Dividend growth (YoY) -73.9% — 4.2%
Buyback yield 0.1% 0.0%
100th		 0.2%
Shareholder yield (dividends + buybacks) 0.3% 0.0%
80th		 2.3%
Share count change (YoY) -0.1% 2.3%
0th		 0.0%
Buybacks, last 5 years $407.0M $0
100th		 $35.6M

Scores & forensic checks

MeasureFCXIndustry medianIndustry percentileSector median
IS score 71 70
60th		 57
IS profitability 55 64
40th		 44
IS growth 57 71
20th		 59
IS value 54 52
60th		 54
IS momentum 85 94
20th		 78
IS risk (safety) 80 85
20th		 80
IS quality 74 79
40th		 70
IS balance sheet 73 79
20th		 65
IS earnings quality 87 78
100th		 71
IS cash flow 84 69
60th		 49
Piotroski F-score (0-9) 5 7
20th		 6
Altman Z-score 3.0 3.3
20th		 3.1
Beneish M-score −3.07 −2.55
20th		 −2.55
Ohlson O-score −9.40 −9.13
40th		 −8.14
IS credit score 85 85
60th		 70

Per share

MeasureFCXIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.04 $1.86
60th		 $1.57
Book value per share $13.94 $11.69
80th		 $16.95
Tangible book per share $22.33 $12.31
100th		 $8.43
Revenue per share $17.93 $8.03
80th		 $31.21
FCF per share $4.10 $1.09
80th		 $1.99
Operating cash flow per share $4.10 $3.03
60th		 $4.23
Cash per share $2.83 $1.98
80th		 $2.16

Size (TTM)

MeasureFCXIndustry medianIndustry percentileSector median
Market cap $100.0B $7.0B
80th		 $4.7B
Revenue $25.9B $1.8B
100th		 $2.5B
EBITDA $9.0B $1.1B
80th		 $488.0M
Net income $2.9B $492.8M
80th		 $137.1M
Free cash flow $5.9B $259.3M
80th		 $142.7M
Total assets $59.7B $5.1B
100th		 $3.8B
Shareholders' equity $20.1B $3.0B
100th		 $1.6B
Employees 29,000 2,962
100th		 4,067

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-01Grant Hugh
Director
 Award / grant 482$70.00$33,74050,332
2026-10-01Stephens John Joseph
Director
 Award / grant 294$70.00$20,58071,798
2026-08-27Kennard Lydia H
Director
 Open-market sale 3,798$79.11$300,471122,702
2026-08-25Currault Douglas N. Ii
EVP & General Counsel
 Option exercise 15,000$28.14$422,1000
2026-08-25Currault Douglas N. Ii
EVP & General Counsel
 Option exercise 15,000$28.14$422,100291,016
2026-08-25Currault Douglas N. Ii
EVP & General Counsel
 Open-market sale 80,000$78.56$6.3M211,016
2026-08-05Mikes Ellie L.
Chief Accounting Officer
 Open-market sale 4,773$70.00$334,11036,000
2026-08-05Higgins Stephen T.
EVP & CAO
 Open-market sale 14,277$69.50$992,25254,618
2026-07-30Higgins Stephen T.
EVP & CAO
 Open-market sale 7,550$63.00$475,65068,895
2026-07-01Stephens John Joseph
Director
 Award / grant 327$62.89$20,56571,504
2026-07-01Grant Hugh
Director
 Award / grant 536$62.89$33,70949,850
2026-06-01Stephens John Joseph
Director
 Award / grant 2,800——71,177

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunJulAugOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1326,839$108,594
Open-market saleDisposed5110,398$8.4M
Option exerciseDisposed115,000$422,100
Option exerciseAcquired115,000$422,100
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 13 notices · 502,352 shares · $32.2M
FiledFilerShares proposedEst. proceeds
2026-08-27Lydia H. Kennard3,798$300,042
2026-08-25Currault Douglas N. Ii80,000$6.3M
2026-08-05Mikes Ellie L.4,773$334,110
2026-08-05Higgins Stephen T.14,277$992,251
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 9 trades (8 purchases) · Senate 2 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-10Ro KhannaHouseSale$1,001 - $15,0002026-09-07
2026-07-24John FettermanSenateSale$1,001 - $15,0002026-08-10
2026-07-24John Karl FettermanSenateSale$1,001 - $15,0002026-08-10
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2026-06-02Ro KhannaHousePurchase$1,001 - $15,0002026-07-08
2026-04-15Josh GottheimerHousePurchase$1,001 - $15,0002026-05-20
2024-06-21John FettermanSenatePurchase$1,001 - $15,0002024-07-12
2024-06-21John Karl FettermanSenatePurchase$1,001 - $15,0002024-07-12
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.121,954,704$7.7B8.48%
VANGUARD CAPITAL MANAGEMENT LLC93,905,396$5.9B6.53%
Fisher Asset Management, LLC66,922,014$4.2B4.66%
STATE STREET CORP66,485,424$4.2B4.62%
Capital Research Global Investors41,503,051$2.6B2.89%
FRANKLIN RESOURCES INC37,380,279$2.4B2.60%
BANK OF AMERICA CORP /DE/36,401,174$2.3B2.53%
GEODE CAPITAL MANAGEMENT, LLC32,558,233$2.0B2.26%
JPMORGAN CHASE & CO25,334,622$1.6B1.76%
VANGUARD PORTFOLIO MANAGEMENT LLC24,117,383$1.5B1.68%
FMR LLC20,904,897$1.3B1.45%
Bank of New York Mellon Corp17,638,851$1.1B1.23%
VICTORY CAPITAL MANAGEMENT INC16,319,528$1.0B1.14%
WELLINGTON MANAGEMENT GROUP LLP14,918,066$938.2M1.04%
PRICE T ROWE ASSOCIATES INC /MD/13,836,494$870.2M0.96%

Institutional ownership by quarter

2023-092026-0686.9%
% of shares held by 13F filers
2023-092026-061,893
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,89386.9%195847606130
2026-03-311,85885.4%293756585127
2025-12-311,71385.7%328636551104
2025-09-301,52283.1%168635511152
2025-06-301,52784.9%207601533115
2025-03-311,45384.3%153612514149
2024-12-311,47883.6%186576540206
2024-09-301,52982.5%145653548130
2024-06-301,52682.8%198636492104
2024-03-311,45581.8%170612489119
2023-12-311,42079.9%22452650775
2023-09-301,29178.2%11752842998

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%107,657,408
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-05-13SCHEDULE 13G/ACapital Research Global Investors4.1%59,217,910
2025-04-17SCHEDULE 13G/ABlackRock, Inc.6.2%89,623,089
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.14%$3.2B
VTSAX0.14%$3.2B
VSMPX0.14%$3.2B
VTI0.14%$3.2B
VOO0.15%$2.6B
VFIAX0.15%$2.6B

Share structure

Shares outstanding1,437,559,865
Float1,428,479,459
Free float99.4%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$22.4B$23.3B$22.7B$25.5B$25.7B
Cost of revenue$14.1B$15.2B$15.8B$18.0B$18.8B
Gross profit$8.3B$8.1B$6.9B$7.5B$6.9B
R&D$0$0$0$0$0
SG&A$383.0M$420.0M$479.0M$513.0M$545.0M
Operating income$7.8B$7.6B$6.1B$6.9B$6.3B
EBITDA$10.3B$9.3B$8.6B$9.5B$8.8B
Pretax income$7.7B$6.7B$6.0B$6.9B$6.4B
Income tax$2.3B$2.3B$2.3B$2.5B$2.2B
Net income$4.3B$3.5B$1.8B$1.9B$2.2B
EPS, diluted$2.90$2.39$1.28$1.30$1.52
Diluted shares1.5B1.5B1.4B1.4B1.4B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$8.1B$8.1B$4.8B$3.9B$4.1B
Receivables$1.7B$1.8B$1.7B$1.1B$1.7B
Inventory$4.5B$5.2B$6.1B$6.8B$7.5B
Total current assets$14.8B$15.6B$14.1B$13.3B$13.8B
PP&E, net$30.3B$32.6B$35.3B$38.5B$40.7B
Goodwill & intangibles$412.0M$416.0M$422.0M$428.0M$432.0M
Total assets$48.0B$51.1B$52.5B$54.8B$58.2B
Accounts payable$2.0B$2.7B$2.5B$2.8B$2.9B
Total current liabilities$5.9B$6.3B$5.8B$5.5B$6.0B
Long-term debt$9.1B$9.6B$8.7B$8.9B$9.9B
Total liabilities$25.0B$26.2B$25.2B$26.1B$27.4B
Shareholders' equity$23.0B$24.9B$27.3B$28.8B$30.8B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$5.4B$4.5B$1.8B$4.4B$2.2B
Depreciation & amortization$1.9B$2.0B$2.1B$2.2B$2.2B
Stock-based compensation$98.0M$95.0M$109.0M$109.0M$0
Change in working capital$755.0M−$1.5B−$880.0M−$29.0M−$1.3B
Operating cash flow$7.7B$5.1B$5.3B$7.2B$5.6B
Capital expenditure−$2.1B−$3.5B−$4.8B−$4.8B−$4.5B
Free cash flow$5.6B$1.7B$455.0M$2.4B$1.1B
Investing cash flow−$2.0B−$3.4B−$5.0B−$5.0B−$4.5B
Net debt issued / repaid−$260.0M$1.2B−$1.2B−$521.0M$381.0M
Buybacks−$488.0M−$1.3B$0−$59.0M−$107.0M
Dividends paid−$331.0M−$866.0M−$863.0M−$865.0M−$865.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin37.2%34.9%30.3%28.6%27.0%
Operating margin35.1%32.6%26.8%26.0%24.4%
Net margin19.2%14.8%8.1%7.4%8.5%
FCF margin25.0%7.2%2.0%9.4%21.8%
ROE35.5%23.4%11.4%10.9%12.1%
ROIC35.0%27.5%17.4%17.8%15.6%
ROA9.5%7.0%3.5%3.5%3.9%
Debt / equity0.700.700.590.550.61
Interest coverage13.9x13.0x12.7x22.7x17.7x
Current ratio2.522.462.422.422.29
Revenue growth+61.2%+4.5%−2.8%+10.7%+2.4%
EPS growth+621.2%−17.2%−47.1%+2.1%+17.6%
P/E at year end13.6x15.2x32.6x29.0x33.3x
EV / EBITDA at year end5.8x5.9x7.6x6.3x9.2x
FCF yield at year end9.61%3.18%0.76%4.34%7.67%
Dividend payout7.7%25.1%47.1%46.2%0.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Copper In Concentrates$8.7B$9.7B$7.1B$6.7B$6.3B
Copper Cathode$5.9B$5.1B$6.6B$8.3B$8.1B
Gold$2.6B$3.4B$3.5B$4.4B$3.9B
Refined Copper Products$3.4B$3.7B$3.7B$3.9B$4.4B
Molybdenum$1.3B$1.4B$2.0B$1.8B$2.0B
Other Products Or Services$821.0M$688.0M$585.0M$631.0M$749.0M
Purchased Copper$757.0M$481.0M$416.0M$693.0M$449.0M

Revenue by region · FY2025

UNITED STATES$9.0B · 36%
SWITZERLAND$5.3B · 21%
JAPAN$2.9B · 11%
INDONESIA$2.2B · 9%
SINGAPORE$1.2B · 5%
UNITED KINGDOM$1.1B · 5%
SPAIN$723.0M · 3%
CHINA$636.0M · 3%
CHILE$471.0M · 2%
GERMANY$332.0M · 1%
FRANCE$315.0M · 1%
EGYPT$261.0M · 1%
KOREA, REPUBLIC OF$193.0M · 1%
INDIA$163.0M · 1%
PHILIPPINES$3.0M · 0%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $0.80 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$29.8B$27.8B – $33.6B$3.13$2.33 – $3.681122.2x
2027$36.2B$30.7B – $41.7B$4.26$2.56 – $5.631316.3x
2028$37.9B$32.5B – $47.0B$4.75$2.38 – $6.03914.7x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-23$0.61$0.74+20.3%$6.7B$7.0B+4.7%
2026-04-23$0.47$0.57+22.2%$5.7B$6.2B+8.8%
2026-01-22$0.29$0.47+64.8%$5.3B$5.6B+6.4%
2025-10-23$0.42$0.50+18.7%$6.7B$7.0B+3.9%
2025-07-23$0.45$0.54+20.1%$7.2B$7.6B+5.5%
2025-04-24$0.24$0.24+1.0%$5.4B$5.7B+6.3%
2025-01-23$0.36$0.31−13.9%$5.8B$5.7B−2.1%
2024-10-22$0.36$0.38+6.4%$6.4B$6.8B+5.3%
2024-07-23$0.38$0.46+21.1%$6.0B$6.6B+10.4%
2024-04-23$0.26$0.32+23.1%$5.7B$6.2B+8.9%
2024-01-24$0.22$0.27+22.7%$5.9B$5.8B−1.2%
2023-10-19$0.34$0.39+14.7%$5.4B$5.8B+7.3%
2023-07-20$0.28$0.35+25.0%$5.5B$5.7B+3.6%
2023-04-21$0.45$0.52+15.6%$5.0B$5.4B+7.4%
2023-01-25$0.46$0.52+13.0%$5.4B$5.8B+6.3%
2022-10-20$0.34$0.26−23.5%$4.9B$5.0B+2.5%
2022-07-21$0.61$0.58−4.9%$6.1B$5.4B−11.7%
2022-04-21$0.94$1.07+13.8%$6.4B$6.6B+2.5%
2022-01-26$0.96$0.960.0%$6.5B$6.2B−5.4%
2021-10-21$0.81$0.89+9.9%$6.3B$6.1B−3.1%
2021-07-22$0.76$0.77+1.3%$6.6B$5.7B−12.8%
2021-04-22$0.51$0.510.0%$4.7B$4.8B+2.4%
2021-01-26$0.38$0.39+2.6%$4.4B$4.5B+2.7%
2020-10-22$0.21$0.29+38.1%$2.1B$3.9B+85.4%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.806-151.006-220.706-290.907-060.907-131.207-201.007-271.008-030.808-101.308-171.708-240.908-31
Week ofNotionalSharesTrades
2026-08-31$873.8M11,848,628167,483
2026-08-24$1.7B21,597,363249,909
2026-08-17$1.3B17,687,912214,510
2026-08-10$810.1M11,799,851160,931
2026-08-03$953.4M14,071,395198,032
2026-07-27$989.6M16,107,735191,344

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1539.1%
DateShort shareShort volumeTotal volume
2026-10-1539.1%2,197,5375,617,111
2026-10-1441.6%1,715,6194,125,478
2026-10-1357.8%1,395,4692,414,409
2026-10-1250.1%962,9341,920,173
2026-10-0953.9%1,516,4482,810,885
2026-10-0852.5%1,788,5013,403,717
2026-10-0751.3%1,734,7283,381,798
2026-10-0650.9%1,596,9203,140,113
2026-10-0552.6%1,728,5063,283,099
2026-10-0253.5%2,288,2874,279,484
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-2.8Jan+5.9Feb+3.0Mar+4.4Apr-1.1May+0.7Jun+2.3Jul-1.5Aug-1.8Sep+3.6Oct+2.5Nov+2.2Dec
MonthAvg returnUp yearsYears
Jan−2.8%35%20
Feb+5.9%60%20
Mar+3.0%57%21
Apr+4.4%55%20
May−1.1%45%20
Jun+0.7%65%20
Jul+2.3%60%20
Aug−1.5%35%20
Sep−1.8%45%20
Oct+3.6%65%20
Nov+2.5%50%20
Dec+2.2%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.8
MFI36.0
ADX11.1
Stochastic %K / %D37.5 / 46.9
Williams %R-58.6
CCI-98
TSI / signal-3.1 / 0.7
Chaikin money flow0.15
ATR$2.69
Bollinger width7.8%
Volume vs 20-day avg0.71x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$71.63 (−2.9%)
SMA 50$72.01 (−3.4%)
SMA 200$64.65 (+7.6%)
EMA 21$71.40 (−2.6%)
EMA 50$70.66 (−1.6%)
EMA 200$63.61 (+9.3%)
Bollinger upper$74.43 (−6.6%)
Bollinger lower$68.83 (+1.0%)
Parabolic SAR$73.35 (−5.2%)
Open the live chart, 110+ indicators

About Freeport-McMoRan Inc.

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

https://fcx.com

Key executives

NameTitlePayBorn
Kathleen Lynne QuirkChief Executive Officer, President & Director$3.0M1964
Maree E. RobertsonExecutive Vice President & Chief Financial Officer$1.7M1976
Stephen T. HigginsExecutive Vice President & Chief Administrative Officer$1.4M1958
Douglas N. CurraultExecutive Vice President & General Counsel$1.3M1965
Bertrand L. OdinetSenior VP, Chief Information Officer & Chief Innovation Officer——
David JointVice President of Investor Relations——
Ellie MikesVice President & Chief Accounting Officer—1978
Pamela Q. MassonSenior VP & Chief Human Resources Officer,——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Richard C. Adkerson Chairman of the Board2025$1.2M$8.6M$800,400$18.1M
Kathleen L. Quirk President and Chief Executive Officer2025$1.4M$11.6M$1.4M$14.8M
Maree E. Robertson Executive Vice President and Chief Financial Officer2025$665,000$2.6M$897,750$4.3M
Stephen T. Higgins Executive Vice President and Chief Administrative Officer2025$560,000$1.9M$756,000$3.6M
Douglas N. Currault II Executive Vice President and General Counsel2025$510,000$1.8M$688,500$3.1M

Employees

27k201828k201924k202025k202126k202227k202328k202429k2025

Dividends

Ex-dateAmountPaid
2026-10-15$0.152026-11-02
2026-07-15$0.152026-08-03
2026-04-15$0.152026-05-01
2026-01-15$0.152026-02-02
2025-10-15$0.152025-11-03
2025-07-15$0.152025-08-01
2025-04-15$0.152025-05-01
2025-01-15$0.152025-02-03

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage56
Intangibles30
Switching costs55
Network effect60
Efficient scale90
Our component scores (0-100) and overall 55.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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