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Freeport-Mcmoran Inc Financials

FCX
FY2025 annual
Revenue $25.9B +1.8% YoY
Net Income $2.2B +16.7% YoY
EPS (Diluted) $1.52 +16.9% YoY
Free Cash Flow $1.1B -52.6% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Freeport-Mcmoran Inc (FCX) reported $25.9B in revenue for fiscal year 2025, up 1.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FCX FY2025

Capital spending absorbs operating cash, making reinvestment—not revenue growth—the dominant business mechanic.

In FY2025, net income recovered to $2.2B while operating cash flow weakened and free cash flow fell to $1.1B; the divergence says the accounting recovery was not fully translating into cash available after reinvestment. That makes cash conversion, rather than reported earnings alone, the more informative measure of current performance.

Free-cash-flow margin fell to 4.3% in FY2025 from 9.2% in FY2024, showing that stronger sales did not produce proportional discretionary cash. Capital expenditures consumed roughly 80.1% of FY2025 operating cash flow, leaving limited flexibility after sustaining investment.

The balance sheet is becoming less debt-dependent: debt-to-equity fell from 0.6x in FY2022 to 0.5x in FY2025, indicating that asset growth has not required a matching increase in shareholder leverage. A 2.3x current ratio in FY2025 remains substantial, though it has narrowed from 2.5x in FY2021 as obligations and reinvestment demands expanded.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 66 / 100
Financial Health Score 66/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Freeport-Mcmoran Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
91

Freeport-Mcmoran Inc has an operating margin of 25.1%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 91/100, reflecting efficient cost management and pricing power. This is down from 27.0% the prior year.

Growth
56

Freeport-Mcmoran Inc's revenue grew a modest 1.8% year-over-year to $25.9B. This slow but positive growth earns a score of 56/100.

Leverage
56

Freeport-Mcmoran Inc has a moderate D/E ratio of 0.47. This balance of debt and equity financing earns a leverage score of 56/100.

Liquidity
65

With a current ratio of 2.29, Freeport-Mcmoran Inc holds $2.29 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.

Cash Flow
49

Freeport-Mcmoran Inc has a free cash flow margin of 4.3%, earning a moderate score of 49/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
79

Freeport-Mcmoran Inc earns a strong 11.7% return on equity (ROE), meaning it generates $12 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is up from 10.7% the prior year.

Altman Z-Score Grey Zone
2.69

Freeport-Mcmoran Inc scores 2.69, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($109.8B) relative to total liabilities ($39.3B). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
5/8

Freeport-Mcmoran Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.55x

For every $1 of reported earnings, Freeport-Mcmoran Inc generates $2.55 in operating cash flow ($5.6B OCF vs $2.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
17.66x

Freeport-Mcmoran Inc earns $17.66 in operating income for every $1 of interest expense ($6.5B vs $369.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$25.9B
YoY+1.8%
5Y CAGR+12.8%
10Y CAGR+5.9%

Freeport-Mcmoran Inc generated $25.9B in revenue in fiscal year 2025. This represents an increase of 1.8% from the prior year.

EBITDA
$8.8B
YoY-3.8%
5Y CAGR+17.2%

Freeport-Mcmoran Inc's EBITDA was $8.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.8% from the prior year.

Net Income
$2.2B
YoY+16.7%
5Y CAGR+20.6%

Freeport-Mcmoran Inc reported $2.2B in net income in fiscal year 2025. This represents an increase of 16.7% from the prior year.

EPS (Diluted)
$1.52
YoY+16.9%
5Y CAGR+30.0%

Freeport-Mcmoran Inc earned $1.52 per diluted share (EPS) in fiscal year 2025. This represents an increase of 16.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$1.1B
YoY-52.6%
5Y CAGR+1.1%

Freeport-Mcmoran Inc generated $1.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 52.6% from the prior year.

Cash & Debt
$3.8B
YoY-2.5%
5Y CAGR+0.9%
10Y CAGR+36.0%

Freeport-Mcmoran Inc held $3.8B in cash against $8.9B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.60
YoY0.0%

Freeport-Mcmoran Inc paid $0.60 per share in dividends in fiscal year 2025. That is unchanged from the prior year.

Shares Outstanding
1.44B
YoY0.0%
5Y CAGR-0.3%

Freeport-Mcmoran Inc had 1.44B shares outstanding in fiscal year 2025. That is unchanged from the prior year.

Margins & Returns

Operating Margin
25.1%
YoY-1.8pp
5Y CAGR+8.0pp
10Y CAGR+117.7pp

Freeport-Mcmoran Inc's operating margin was 25.1% in fiscal year 2025, reflecting core business profitability. This is down 1.8 percentage points from the prior year.

Net Margin
8.5%
YoY+1.1pp
5Y CAGR+2.4pp
10Y CAGR+91.3pp

Freeport-Mcmoran Inc's net profit margin was 8.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.1 percentage points from the prior year.

Return on Equity
11.7%
YoY+0.9pp
5Y CAGR+3.2pp
10Y CAGR+166.1pp

Freeport-Mcmoran Inc's ROE was 11.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks
$107.0M
YoY+81.4%

Freeport-Mcmoran Inc spent $107.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 81.4% from the prior year.

Capital Expenditures
$4.5B
YoY-6.5%
5Y CAGR+18.0%
10Y CAGR-3.4%

Freeport-Mcmoran Inc invested $4.5B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.5% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

FCX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FCX quarterly income statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Revenue$7.0B+12.8%$6.2B+10.7%$5.6B-19.2%$7.0B-8.0%$7.6B+32.4%$5.7B+0.1%$5.7B-15.8%$6.8B
Cost of Revenue$4.8B+5.8%$4.6B-0.8%$4.6B-4.4%$4.8B-2.4%$5.0B+17.2%$4.2B-1.7%$4.3B-8.2%$4.7B
SG&A Expenses$135.0M-16.7%$162.0M+21.8%$133.0M+1.5%$131.0M+3.1%$127.0M-17.5%$154.0M+19.4%$129.0M+10.3%$117.0M
Operating Income$2.0B-6.3%$2.1B+163.5%$811.0M-58.9%$2.0B-18.9%$2.4B+86.6%$1.3B+4.8%$1.2B-35.9%$1.9B
Interest Expense-$95.0M+16.7%-$114.0M-3.6%-$110.0M-2.8%-$107.0M-30.5%-$82.0M-17.1%-$70.0M0.0%-$70.0M+2.8%-$72.0M
Income Tax$544.0M-16.7%$653.0M+223.3%$202.0M-69.8%$669.0M-21.3%$850.0M+70.0%$500.0M-3.8%$520.0M-29.4%$737.0M
Net Income$984.0M-29.1%$1.4B+328.1%-$608.0M-148.8%$1.2B+61.5%$772.0M-2.6%$793.0M+144.3%-$1.8B-244.7%$1.2B
EPS (Diluted)$0.68$0.61N/A$0.46$0.53$0.24N/A$0.36

Not reported in any period shown, so not listed: Gross Profit, R&D Expenses.

FCX Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FCX quarterly balance sheet
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Total Assets$59.7B+1.5%$58.8B+1.2%$58.2B+2.4%$56.8B+0.6%$56.5B+0.8%$56.0B+2.1%$54.8B-1.0%$55.4B
Current Assets$14.2B+0.5%$14.1B+2.2%$13.8B+1.7%$13.6B-0.5%$13.6B-1.2%$13.8B+3.8%$13.3B-8.6%$14.5B
Cash & Equivalents$4.1B+9.2%$3.7B-2.3%$3.8B-11.4%$4.3B-3.8%$4.5B+2.4%$4.4B+11.8%$3.9B-21.5%$5.0B
Accounts Receivable$716.0M+5.1%$681.0M-30.3%$977.0M+6.7%$916.0M-2.7%$941.0M+26.6%$743.0M+28.5%$578.0M-41.0%$979.0M
Total Liabilities$39.6B+0.7%$39.3B+0.2%$39.3B+2.9%$38.1B-0.4%$38.3B-0.1%$38.3B+2.9%$37.3B-1.5%$37.9B
Current Liabilities$6.9B+16.1%$5.9B-1.9%$6.0B+8.9%$5.5B-0.1%$5.5B-6.9%$5.9B+8.1%$5.5B-12.0%$6.2B
Long-Term Debt$8.2B-8.4%$8.9B0.0%$8.9B0.0%$8.9B0.0%$8.9B0.0%$8.9B0.0%$8.9B0.0%$8.9B
Total Equity$20.1B+3.1%$19.5B+3.2%$18.9B+1.1%$18.7B+2.6%$18.2B+2.9%$17.7B+0.6%$17.6B+0.2%$17.5B
Retained Earnings$2.8B+37.4%$2.0B+48.0%$1.4B+15.8%$1.2B+62.1%$738.0M+305.5%$182.0M+207.1%-$170.0M+61.7%-$444.0M

Not reported in any period shown, so not listed: Inventory, Goodwill.

FCX Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

FCX quarterly cash flow statement
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Cash Flow$2.0B+37.0%$1.5B+115.7%$693.0M-58.4%$1.7B-24.2%$2.2B+107.5%$1.1B-26.3%$1.4B-23.3%$1.9B
Capital ExpendituresN/A$973.0M-3.2%$1.0B-4.8%$1.1B-16.3%$1.3B+7.6%$1.2B-5.4%$1.2B+3.3%$1.2B
Free Cash FlowN/A$522.0M+267.3%-$312.0M-151.3%$608.0M-34.9%$934.0M+919.3%-$114.0M-157.9%$197.0M-70.7%$673.0M
Investing Cash Flow-$1.2B-21.0%-$985.0M+4.4%-$1.0B-2.0%-$1.0B+19.6%-$1.3B-6.8%-$1.2B+4.5%-$1.2B+12.8%-$1.4B
Financing Cash Flow-$514.0M+3.7%-$534.0M-273.4%-$143.0M+82.7%-$825.0M+22.4%-$1.1B-785.8%$155.0M+110.3%-$1.5B-133.7%-$646.0M
Dividends Paid$216.0M-0.9%$218.0M+0.9%$216.0M0.0%$216.0M+0.5%$215.0M-1.4%$218.0M+0.9%$216.0M-73.0%$800.0M
Share Buybacks$110.0M+18.3%$93.0M$0$0-100.0%$52.0M-5.5%$55.0M$0-100.0%$59.0M

FCX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

FCX quarterly financial ratios
MetricQ2'26Q1'26Q4'25Q3'25Q2'25Q1'25Q4'24Q3'24
Operating Margin28.5%-5.8pp34.3%+19.9pp14.4%-13.9pp28.3%-3.8pp32.1%+9.3pp22.8%+1.0pp21.7%-6.8pp28.5%
Net Margin14.0%-8.2pp22.3%+33.0pp-10.8%-28.7pp17.9%+7.7pp10.2%-3.7pp13.8%+45.1pp-31.3%-49.5pp18.2%
Return on Equity4.9%-2.2pp7.1%+10.3pp-3.2%-9.9pp6.7%+2.4pp4.2%-0.2pp4.5%+14.7pp-10.2%-17.2pp7.0%
Return on Assets1.7%-0.7pp2.4%+3.4pp-1.1%-3.2pp2.2%+0.8pp1.4%-0.1pp1.4%+4.7pp-3.3%-5.5pp2.2%
Current Ratio2.07-0.3x2.39+0.1x2.29-0.2x2.450.0x2.47+0.1x2.32-0.1x2.42+0.1x2.33
Debt-to-Equity0.41-0.1x0.460.0x0.470.0x0.480.0x0.490.0x0.500.0x0.510.0x0.51
FCF MarginN/A8.4%+13.9pp-5.5%-14.3pp8.7%-3.6pp12.3%+14.3pp-2.0%-5.4pp3.4%-6.5pp9.9%

Not reported in any period shown, so not listed: Gross Margin.

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Frequently Asked Questions

What is Freeport-Mcmoran Inc's annual revenue?

Freeport-Mcmoran Inc (FCX) reported $25.9B in total revenue for fiscal year 2025. This represents a 1.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Freeport-Mcmoran Inc's revenue growing?

Freeport-Mcmoran Inc (FCX) revenue grew by 1.8% year-over-year, from $25.5B to $25.9B in fiscal year 2025.

Is Freeport-Mcmoran Inc profitable?

Yes, Freeport-Mcmoran Inc (FCX) reported a net income of $2.2B in fiscal year 2025, with a net profit margin of 8.5%.

Freeport-Mcmoran Inc (FCX) reported diluted earnings per share of $1.52 for fiscal year 2025. This represents a 16.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Freeport-Mcmoran Inc (FCX) had EBITDA of $8.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Freeport-Mcmoran Inc (FCX) had $3.8B in cash and equivalents against $8.9B in long-term debt.

Freeport-Mcmoran Inc (FCX) had an operating margin of 25.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Freeport-Mcmoran Inc (FCX) had a net profit margin of 8.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Freeport-Mcmoran Inc (FCX) paid $0.60 per share in dividends during fiscal year 2025.

Freeport-Mcmoran Inc (FCX) has a return on equity of 11.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Freeport-Mcmoran Inc (FCX) generated $1.1B in free cash flow during fiscal year 2025. This represents a -52.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Freeport-Mcmoran Inc (FCX) generated $5.6B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Freeport-Mcmoran Inc (FCX) had $58.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Freeport-Mcmoran Inc (FCX) invested $4.5B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Freeport-Mcmoran Inc (FCX) spent $107.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Freeport-Mcmoran Inc (FCX) had 1.44B shares outstanding as of fiscal year 2025.

Freeport-Mcmoran Inc (FCX) had a current ratio of 2.29 as of fiscal year 2025, which is generally considered healthy.

Freeport-Mcmoran Inc (FCX) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Freeport-Mcmoran Inc (FCX) had a return on assets of 3.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Freeport-Mcmoran Inc (FCX) has an Altman Z-Score of 2.69, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Freeport-Mcmoran Inc (FCX) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Freeport-Mcmoran Inc (FCX) has an earnings quality ratio of 2.55x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Freeport-Mcmoran Inc (FCX) has an interest coverage ratio of 17.66x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Freeport-Mcmoran Inc (FCX) scores 66 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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