Freeport-McMoRan Inc.FCX
NYSE•Basic Materials•Copper
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. The company was incorporated in 1987 and is headquartered in Phoenix, Arizona.
as of March 2026
Are revenues and earnings expanding?
$26.42B in TTM revenue grew 6.3% YoY, reaching $6.23B last quarter. TTM EBITDA of $11.96B on operating income of $2.14B shows growth is flowing through. Net income of $4.75B TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.
Is revenue turning into profit effectively?
Op. margin of 34.3% is up 11.5% YoY — cost efficiency is improving. Net margin at 22.2% and gross margin of 26.5%. ROE of 24.3% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 20.9x P/E, the stock trades in line with market averages — fairly valued. P/S of 3.8x and P/B of 5.1x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.
Is the company financially stable?
With $58.84B in assets and $8.91B in long-term debt, the D/E of 0.5 shows a conservative capital structure — the company has a strong financial cushion to weather downturns.
Is the business self-funding?
FCF of $522.00M on $1.50B in operating cash flow. The FCF / Net Income ratio of 0.1x indicates partial cash conversion — earnings quality needs attention. Cash reserves of $3.74B provide financial flexibility. Share count is stable — no dilution or buyback activity.
Competitive analysis based on 69 quarters of fundamental data
Operating margins are expanding at ~26.6%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 24.1% suggests a durable competitive advantage and efficient capital allocation.
Data-driven red flags and warnings across 69 quarters
Margins are stable or improving at ~27.3% — no sign of cost or pricing stress.
FCF consistently trails net income (avg 0.3x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 0.5 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 4 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.