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Freeport-McMoRan Inc.

FCX

Freeport-McMoRan Inc. • NYSE
$42.98 ▲ 1.98% (+0.83)
Market Cap $61.72 B
52w High $49.12
52w Low $27.66
Dividend Yield 0.45%
P/E 30.06
Volume 8.84M
Outstanding Shares 1.44B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.972B ▼ $131M ▼ $674M ▼ 9.667% ▼ $0.47 ▼ $2.648B ▼
Q2-2025 $7.582B ▲ $154M ▼ $772M ▲ 10.182% ▲ $0.53 ▲ $3.141B ▲
Q1-2025 $5.554B ▼ $164M ▲ $346M ▲ 6.23% ▲ $0.241 ▲ $1.827B ▼
Q4-2024 $5.88B ▼ $141M ▲ $274M ▼ 4.66% ▼ $0.191 ▼ $1.847B ▼
Q3-2024 $6.68B $137M $520M 7.784% $0.362 $2.635B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4.548B ▼ $56.828B ▲ $26.431B ▼ $18.685B ▲
Q2-2025 $4.72B ▲ $56.492B ▲ $26.496B ▼ $18.208B ▲
Q1-2025 $4.385B ▲ $56.022B ▲ $26.808B ▲ $17.688B ▲
Q4-2024 $3.923B ▼ $54.848B ▼ $26.07B ▼ $17.581B ▲
Q3-2024 $5B $55.4B $26.534B $17.548B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $674M ▼ $1.664B ▼ $-1.01B ▲ $-825M ▲ $528M ▲ $608M ▼
Q2-2025 $1.988B ▲ $2.195B ▲ $-1.256B ▼ $-1.063B ▼ $-124M ▼ $3.367B ▲
Q1-2025 $352M ▼ $1.058B ▼ $-1.176B ▲ $155M ▲ $37M ▲ $-114M ▼
Q4-2024 $721M ▼ $1.436B ▼ $-1.231B ▲ $-1.51B ▼ $-1.305B ▼ $197M ▼
Q3-2024 $1.236B $1.872B $-1.412B $-646M $-186M $673M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Copper Cathode
Copper Cathode
 $6.25Bn ▲$2.02Bn ▼$2.17Bn ▲$1.82Bn ▼
Copper In Concentrates
Copper In Concentrates
 $4.94Bn ▲$1.39Bn ▼$2.02Bn ▲$1.97Bn ▼
Gold
Gold
 $3.05Bn ▲$470.00M ▼$1.83Bn ▲$1.20Bn ▼
Molybdenum
Molybdenum
 $1.20Bn ▲$440.00M ▼$480.00M ▲$500.00M ▲
Purchased Copper
Purchased Copper
 $540.00M ▲$300.00M ▼$170.00M ▼$20.00M ▼
Refined Copper Products
Refined Copper Products
 $2.84Bn ▲$960.00M ▼$970.00M ▲$1.33Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past five years and has held at a high level more recently, showing that Freeport-McMoRan is benefitting from solid copper demand. Profitability, however, tells a more cyclical story. Operating profits and cash-based earnings remain robust, but they peaked a few years ago and have since come down, even though sales stayed relatively strong. Net income and earnings per share are now well below the boom years, suggesting margin pressure from factors like lower realized prices, rising costs, or mix and tax effects. Overall, the business is clearly profitable but exposed to normal mining-cycle swings in pricing and margins.

Balance Sheet

Balance Sheet The balance sheet has generally strengthened over time. Total assets and shareholders’ equity have grown, reflecting reinvestment of profits and expansion of the asset base. Debt levels have stayed fairly steady, so leverage has eased as equity increased, which supports financial resilience. Cash balances are lower than they were at their recent peak, as the company has been spending heavily on projects, but liquidity still appears reasonable. In simple terms, Freeport-McMoRan looks sturdier today than it did several years ago, with a bigger equity cushion and manageable debt, though with less spare cash than in its most cash-rich years.

Cash Flow

Cash Flow Freeport-McMoRan generates solid cash from its operations, and that cash generation has improved again in the most recent year. The main story in cash flow is heavy investment: capital spending has risen significantly as the company builds out and upgrades its mines and processing capabilities. This has caused free cash flow to swing around—very strong in one year, much thinner in another—depending on the timing of big projects. Even so, operating cash generally covers these investments, which is important. The trade-off is clear: near-term free cash is being sacrificed to fund growth, efficiency, and technology initiatives that may pay off over the long run but add execution and timing risk today.

Competitive Edge

Competitive Edge Freeport-McMoRan holds a leading position in global copper, backed by several large, long-life mines and a meaningful presence in gold and molybdenum. Its scale, cost position at key assets like Grasberg, and deep technical know-how in complex, underground mining and metallurgy provide real competitive advantages in what is otherwise a commodity industry. Geographic diversity helps but also introduces political and regulatory risk, especially in countries where rules and taxes can change. The company’s focus on responsible production and certifications such as the Copper Mark may help with long-term customer relationships, particularly as buyers care more about sustainability. Overall, it is one of the more strategically important players in a market that is central to electrification and energy transition, but it remains heavily exposed to commodity price cycles and country-specific risks.

Innovation and R&D

Innovation and R&D The company is leaning hard into technology to widen its edge. Its data and AI-driven “concentrator” program aims to squeeze more copper out of existing plants with minimal extra capital, effectively adding capacity through smarter operations. Autonomous haul trucks at the Bagdad mine should improve safety, reduce downtime, and lower emissions once fully rolled out. Most notably, advanced leaching techniques are turning lower-grade or previously uneconomic ore into valuable production, potentially extending mine lives and cutting unit costs. These initiatives sit alongside decarbonization targets and broader digitalization efforts. The upside is a more efficient and lower-cost operation with better environmental performance; the risk is around execution, scalability, and whether the promised gains can be consistently delivered across the portfolio.

Summary

Freeport-McMoRan combines a strong industrial footprint with clear exposure to commodity cycles. Revenues are high and resilient, but profits move more sharply with copper prices and cost pressures. The balance sheet has steadily improved, with growing equity and stable debt, even as the company draws down some of its cash to fund an ambitious investment program. Cash flows from operations are solid and are being plowed back into technology, expansion, and mine optimization rather than maximized free cash in the short term. On the strategic side, the firm benefits from world-class assets, scale, and sophisticated mining and processing capabilities, and is pushing hard on AI, automation, and leaching innovations that could support long-term competitiveness and sustainability. Key uncertainties remain around future copper prices, regulatory environments, project execution, and whether technological initiatives will consistently translate into durable margin and cash-flow improvements over the next cycle.

NEWS

November 30, 2025 · 7:47 AM UTC

FCX LAWSUIT: BFA Law Reminds Freeport-McMoRan Inc. Investors the Company has been Sued for Securities Fraud and to Contact BFA Law by January 12 Deadline

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November 30, 2025 · 12:25 AM UTC

ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Freeport-McMoRan Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm - FCX

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November 29, 2025 · 8:18 AM UTC

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Freeport-McMoran

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November 29, 2025 · 6:10 AM UTC

FCX STOCK: Lose Money on Your Freeport-McMoRan Inc. Investment? Contact BFA Law about the Pending Securities Class Action before January 12 Deadline

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November 28, 2025 · 11:22 AM UTC

UPCOMING DEADLINE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Freeport-McMoran

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