FREEPORT-MCMORAN INC

10-K & 10-Q Filings

Freeport-McMoRan Inc. (FCX) is a leading international mining company based in Phoenix, Arizona. The company operates large, long-lived, geographically diverse assets with significant proven and probable mineral reserves of copper, gold, and molybdenum. FCX is one of the world's largest publicly traded copper producers. Its portfolio includes the Grasberg minerals district in Indonesia, the largest copper and gold deposit, and significant mining operations in North America and South America. The company's business strategy is to build a solid balance sheet, maintain flexible organic growth options, and preserve substantial future asset values. In 2023, the company generated positive operating cash flows despite economic uncertainty and rising costs. Its primary natural resources are copper, gold, and molybdenum, which are used in various industries and technologies. FCX's consolidated revenues primarily include sales of copper (75%), gold (15%), and molybdenum (8%). The company operates seven copper mines in North America, two copper mines in South America, and the Grasberg minerals district in Indonesia. Its copper products include copper concentrate, cathode, and continuous cast copper rod. The company's website is fcx.com, and its ticker symbol is FCX.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$20880.00
18010.00
20921.00
21438.00
15877.00
14830.00
16403.00
18628.00
14402.00
14198.00
22845.00
22780.00
22855.00
0.76%0.33%Cost of Revenue (-)
$10920.00
11561.00
14637.00
19504.00
28524.00
17580.00
12022.00
13445.00
13105.00
11655.00
14030.00
15089.00
15695.00
3.07%4.02%Gross Profit (+)
$9960.00
6449.00
6284.00
1934.00
-12647.00
-2750.00
4381.00
5183.00
1297.00
2543.00
8815.00
7691.00
7160.00
-2.71%-6.90%Selling, General & Administrative (-)
$415.00
431.00
657.00
592.00
569.00
607.00
484.00
443.00
414.00
370.00
383.00
420.00
479.00
1.20%14.05%Non-recurring Operating Expenses (-)
$
5454.00
13144.00
4320.00
251.00
89.00
105.00
159.00
91.00
121.00
319.00
163.64%Operating Expenses (-)
$415.00
635.00
933.00
1837.00
735.00
42.00
654.00
429.00
206.00
106.00
449.00
654.00
935.00
7.00%42.97%Costs & Expenses (Total) (-)
$11335.00
12196.00
15570.00
21341.00
29259.00
17622.00
12770.00
13874.00
13311.00
11761.00
14479.00
15743.00
16630.00
3.25%5.63%Operating Income/Loss (+)
$9140.00
5814.00
5351.00
97.00
-13382.00
-2792.00
3633.00
4754.00
1091.00
2437.00
8366.00
7037.00
6225.00
-3.15%-11.54%Non-operating Income/Expense (+)
$6.00
-138.00
83.00
112.00
3.00
86.00
80.00
91.00
-153.00
-30.00
-100.00
269.00
311.00
38.96%15.61%Interest Expense (-)
$312.00
Earnings before Tax (+)
$8818.00
5487.00
4913.00
-424.00
-14021.00
-3472.00
2902.00
3892.00
306.00
1797.00
7659.00
6715.00
6006.00
-3.15%-10.56%Tax Expense (-)
$3087.00
1510.00
1475.00
324.00
-1935.00
371.00
883.00
991.00
510.00
944.00
2299.00
2267.00
2270.00
-2.53%0.13%Income/Loss (Continuing Operations) (+)
$5731.00
3977.00
3438.00
-748.00
-12086.00
-3832.00
2029.00
2909.00
-192.00
865.00
5365.00
4448.00
3736.00
-3.50%-16.01%Income/Loss (Discontinued Operations) (+)
$
-193.00
66.00
-15.00
3.00
Profit/Loss (+)
$5747.00
3980.00
3441.00
-745.00
-12089.00
-4025.00
2095.00
2894.00
-189.00
865.00
5365.00
4479.00
3751.00
-3.49%-16.25%Net Income/Loss (NCI) (-)
$1187.00
939.00
523.00
106.00
Net Income/Loss (+)
$4560.00
3041.00
2658.00
-1308.00
-12236.00
-4154.00
1817.00
2602.00
-239.00
599.00
4306.00
3468.00
1848.00
-7.25%-46.71%Preferred & Other Distributions (-)
$
40.00
41.00
-161.00
Net Income/Loss (Common) (+)
$4560.00
3041.00
2658.00
-1308.00
-12236.00
-4154.00
1817.00
2602.00
-239.00
599.00
4306.00
3468.00
1848.00
-7.25%-46.71%EPS (Basic)
$4.81
3.20
2.65
-1.26
-11.31
-3.16
1.25
1.79
-0.17
0.41
2.93
2.40
1.28
-10.45%-46.67%EPS (Diluted)
$4.78
3.19
2.64
-1.26
-11.31
1.78
-0.17
0.41
2.90
2.39
1.28
-10.40%-46.44%Weighted Avg Shares (Basic)
947.00
949.00
1002.00
1039.00
1082.00
1318.00
1447.00
1449.00
1451.00
1453.00
1466.00
1441.00
1434.00
3.52%-0.49%Weighted Avg Shares (Diluted)
955.00
954.00
1006.00
1039.00
1082.00
1318.00
1454.00
1458.00
1451.00
1461.00
1482.00
1451.00
1443.00
3.50%-0.55%Cash
$4822.00
3705.00
1985.00
464.00
224.00
4245.00
4447.00
4217.00
2020.00
3657.00
8068.00
8146.00
5966.00
1.79%-26.76%Receivables
$892.00
927.00
1728.00
953.00
689.00
1126.00
1246.00
829.00
741.00
892.00
1168.00
1336.00
1209.00
2.57%-9.51%Inventory
$3869.00
4576.00
5018.00
5361.00
4788.00
3642.00
3893.00
4759.00
4073.00
3893.00
4497.00
5180.00
6060.00
3.81%16.99%Other Assets (Current)
$464.00
1089.00
1241.00
2267.00
1761.00
1422.00
1193.00
915.00
1081.00
861.00
1097.00
951.00
830.00
4.97%-12.72%Assets (Current)
$10047.00
10297.00
9972.00
9045.00
7462.00
10435.00
10779.00
10720.00
7915.00
9303.00
14830.00
15613.00
14065.00
2.84%-9.91%Property, Plant & Equipment (Net)
$18449.00
20999.00
24042.00
26220.00
27509.00
23219.00
22836.00
28010.00
29584.00
29818.00
30345.00
32627.00
35295.00
5.55%8.18%Goodwill & Intangibles
$325.00
1916.00
Other Assets
$3249.00
4144.00
27543.00
23530.00
11606.00
3663.00
3695.00
3486.00
3310.00
3023.00
2847.00
2853.00
3146.00
-0.27%10.27%Assets (Non-current)
$22023.00
25143.00
53501.00
49750.00
39115.00
26882.00
26531.00
31496.00
32894.00
32841.00
33192.00
35480.00
38441.00
4.75%8.35%Assets (Total)
$32070.00
35440.00
63473.00
58795.00
46577.00
37317.00
37302.00
42216.00
40809.00
42144.00
48022.00
51093.00
52506.00
4.19%2.77%Accounts Payable
$2655.00
2716.00
4217.00
4398.00
3386.00
2459.00
2886.00
2863.00
2768.00
3032.00
5256.00
4988.00
4733.00
4.94%-5.11%Debt (Current)
$4.00
2.00
312.00
478.00
649.00
1232.00
1414.00
17.00
5.00
34.00
372.00
1037.00
766.00
54.95%-26.13%Other Liabilities (Current)
$281.00
625.00
244.00
296.00
272.00
574.00
738.00
449.00
436.00
351.00
264.00
320.00
316.00
0.98%-1.25%Liabilities (Current)
$2940.00
3343.00
4773.00
5172.00
4307.00
4265.00
5038.00
3329.00
3209.00
3417.00
5892.00
6345.00
5815.00
5.85%-8.35%Debt (Non-current)
$3533.00
3525.00
20394.00
18492.00
19779.00
14795.00
11703.00
11124.00
9821.00
9677.00
9078.00
9583.00
8656.00
7.75%-9.67%Other Liabilities
$7044.00
7261.00
13075.00
12657.00
10447.00
9000.00
9265.00
9871.00
10331.00
10382.00
10033.00
10294.00
10725.00
3.57%4.19%Liabilities (Non-current)
$10577.00
10786.00
33469.00
31149.00
30226.00
23795.00
20968.00
20995.00
20152.00
20059.00
19111.00
19877.00
19381.00
5.18%-2.50%Liabilities (Total)
$13517.00
14129.00
38242.00
36321.00
34533.00
28060.00
26006.00
24324.00
23361.00
23476.00
25003.00
26222.00
25196.00
5.33%-3.91%Treasury Stock
$3553.00
3576.00
3681.00
3695.00
3702.00
3708.00
3723.00
3727.00
3734.00
3758.00
4292.00
5701.00
5773.00
4.13%1.26%Retained Earnings
$546.00
2399.00
2742.00
128.00
-12387.00
-16540.00
-14722.00
-12041.00
-12280.00
-11681.00
-7375.00
-3907.00
-2059.00
47.30%AOCI
$-465.00
-506.00
-405.00
-544.00
-503.00
-548.00
-487.00
-605.00
-676.00
-583.00
-388.00
-320.00
-274.00
14.37%Shareholder's Equity
$18553.00
21311.00
25231.00
22474.00
12044.00
9257.00
11296.00
17892.00
17448.00
18668.00
23019.00
24871.00
27310.00
3.27%9.81%Liabilities & Equity
$32070.00
35440.00
63473.00
58795.00
46577.00
37317.00
37302.00
42216.00
40809.00
42144.00
48022.00
51093.00
52506.00
4.19%2.77%Net Income/Loss
$5747.00
3980.00
3441.00
-745.00
-12089.00
-4025.00
2095.00
2894.00
-189.00
865.00
5365.00
4479.00
3751.00
-3.49%-16.25%Depreciation & Amortization
$
2610.00
1714.00
1754.00
1412.00
1528.00
1998.00
2019.00
2068.00
2.43%Increase/Decrease in Working Capital
$461.00
1289.00
215.00
615.00
-355.00
-57.00
-589.00
588.00
-349.00
-665.00
-755.00
1528.00
880.00
5.54%-42.41%Share-based Compensation
$117.00
240.00
102.00
106.00
85.00
86.00
191.00
157.00
171.00
164.00
102.00
140.00
171.00
3.21%22.14%Adjustments to Reconcile Net Income
$873.00
-206.00
2698.00
6376.00
15309.00
7754.00
2587.00
969.00
1671.00
2152.00
2350.00
660.00
1528.00
4.78%131.52%Net Cash (Operating)
$6620.00
3774.00
6139.00
5631.00
3220.00
3729.00
4682.00
3863.00
1482.00
3017.00
7715.00
5139.00
5279.00
-1.87%2.72%Capital Expenditure
$134.00
96.00
240.00
-3098.00
173.00
-3119.00
1410.00
5014.00
2200.00
1257.00
1901.00
3361.00
4797.00
34.74%42.73%Net Cash (Investing)
$-2535.00
-3463.00
-10908.00
-3801.00
-6246.00
3550.00
-1363.00
-5018.00
-2103.00
-1264.00
-1964.00
-3440.00
-4956.00
-44.07%Increase/Decrease in Debt
$-1265.00
-157.00
6025.00
-1596.00
1595.00
-3944.00
-2857.00
-2085.00
-1318.00
-193.00
-260.00
1220.00
-1199.00
-198.28%Increase/Decrease in Equity
$
-341.00
-35.00
1920.00
1483.00
-12.00
3500.00
-488.00
-1347.00
Dividends Paid
$1814.00
1242.00
2537.00
1729.00
725.00
699.00
176.00
496.00
373.00
73.00
704.00
1581.00
1441.00
-1.90%-8.86%Net Cash (Financing)
$-3001.00
-1428.00
3049.00
-3351.00
2786.00
-3166.00
-3055.00
900.00
-1556.00
-128.00
-1340.00
-1623.00
-2650.00
-63.28%Increase/Decrease in Cash
$1084.00
-1117.00
-1720.00
-1521.00
-240.00
4113.00
264.00
-255.00
-2177.00
1625.00
4411.00
76.00
-2327.00
-3161.84%Cash (Beginning)
$3738.00
4822.00
3705.00
1985.00
464.00
177.00
4245.00
Cash (Ending)
$4822.00
3705.00
1985.00
464.00
224.00
4245.00
4447.00
NOPAT
$5940.27
4214.01
3744.50
22.88
-15228.81
-2493.66
2527.58
3543.51
-727.33
1156.80
5854.78
4661.29
3872.23
-3.50%-16.93%Gross Margin %
47.70%
35.81%
30.04%
9.02%
-79.66%
-18.54%
26.71%
27.82%
9.01%
17.91%
38.59%
33.76%
31.33%
Operating Margin %
43.77%
32.28%
25.58%
0.45%
-84.29%
-18.83%
22.15%
25.52%
7.58%
17.16%
36.62%
30.89%
27.24%
NOPAT Margin %
28.45%
23.40%
17.90%
0.11%
-95.92%
-16.81%
15.41%
19.02%
-5.05%
8.15%
25.63%
20.46%
16.94%
Net Margin %
21.84%
16.89%
12.70%
-6.10%
-77.07%
-28.01%
11.08%
13.97%
-1.66%
4.22%
18.85%
15.22%
8.09%
Tax Rate %
35.01%
27.52%
30.02%
76.42%
-13.80%
10.69%
30.43%
25.46%
166.67%
52.53%
30.02%
33.76%
37.80%
ROA
18.52%
11.89%
5.90%
0.04%
-32.70%
-6.68%
6.78%
8.39%
-1.78%
2.74%
12.19%
9.12%
7.37%
ROE
32.02%
19.77%
14.84%
0.10%
-126.44%
-26.94%
22.38%
19.81%
-4.17%
6.20%
25.43%
18.74%
14.18%
ROIC
26.02%
16.67%
12.34%
0.08%
-51.30%
-9.33%
9.59%
10.95%
-2.21%
3.53%
17.79%
12.85%
9.69%
Asset Turnover
0.65
0.51
0.33
0.36
0.34
0.40
0.44
0.44
0.35
0.34
0.48
0.45
0.44
Inventory Turnover
2.82
2.53
2.92
3.64
5.96
4.83
3.09
2.83
3.22
2.99
3.12
2.91
2.59
Equity Multiplier
1.73
1.66
2.52
2.62
3.87
4.03
3.30
2.36
2.34
2.26
2.09
2.05
1.92
Current Ratio
3.42
3.08
2.09
1.75
1.73
2.45
2.14
3.22
2.47
2.72
2.52
2.46
2.42
Quick Ratio
1.94
1.39
0.78
0.27
0.21
1.26
1.13
1.52
0.86
1.33
1.57
1.49
1.23
Debt/Equity Ratio
0.19
0.17
0.82
0.84
1.70
1.73
1.16
0.62
0.56
0.52
0.41
0.43
0.35
Working Capital/Sales
0.19
0.24
0.21
0.10
0.14
0.24
0.21
0.23
0.23
0.21
0.11
0.16
0.20
Dividend Payout Ratio %
30.54%
29.47%
67.75%
7557.69%
4.76%
28.03%
6.96%
14.00%
51.28%
6.31%
12.02%
33.92%
37.21%
Total Payout
$3079.00
1399.00
-3147.00
3360.00
-2790.00
3160.00
3045.00
-919.00
1691.00
266.00
1452.00
1708.00
2640.00
-1.27%54.57%Payout Ratio %
51.83%
33.20%
-84.04%
14687.01%
-18.32%
126.72%
120.47%
-25.93%
232.49%
22.99%
24.80%
36.64%
68.18%