Overview
FREEPORT-MCMORAN INC
Latest 10-K: FY2025, filed Feb 13, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $25.91B
- 1.8%YoYup from FY2024
- TotalRevenue
- Gross profit
- $7.30B
- 4.7%YoYdown from FY2024
- GrossProfit
- Operating income
- $6.52B
- 5.0%YoYdown from FY2024
- OperatingIncome
- Net income
- $2.20B
- 16.7%YoYup from FY2024
- NetIncome
- Diluted shares
- 1.44B
- 0.1%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- FREEPORT-MCMORAN INC reported revenue of $25.91B for fiscal 2025, up 1.8% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 2 of the last 5 fiscal years.
Profitability
- Operating margin was 25.2% and net margin was 8.5%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $25.91B1.8%up Benchmark median 6.4% | $25.45B11.4%up Benchmark median 4.5% | $22.86B0.3%up Benchmark median 4.8% | $22.78B0.3%down Benchmark median 10.3% | $22.84B60.9%up Benchmark median 13.8% | 3.2% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $7.30B4.7%down Benchmark median 6.8% | $7.66B7.0%up Benchmark median 5.5% | $7.16B26.3%down Benchmark median 5.2% | $9.71B10.2%down Benchmark median 8.3% | $10.81B159.5%up Benchmark median 15.7% | -9.4% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $6.52B5.0%down Benchmark median 7.3% | $6.86B10.3%up Benchmark median 7.4% | $6.22B11.5%down Benchmark median 4.9% | $7.04B15.9%down Benchmark median 7.5% | $8.37B243.3%up Benchmark median 23.5% | -6.0% Benchmark median 7.2% |
| Net Income | $2.20B§16.7%up Benchmark median 4.8% | $1.89B§2.2%up Benchmark median 5.7% | $1.85B§46.7%down Benchmark median 1.9% | $3.47B§19.5%down Benchmark median 1.3% | $4.31B§618.9%up Benchmark median 33.9% | -15.4% Benchmark median 4.1% |
| EPS (Diluted) | — | — | — | — | $2.90607.3%up Benchmark median 34.8% | — Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $58.17B6.1%up Benchmark median 5.6% | $54.85B4.5%up Benchmark median 3.4% | $52.51B2.8%up Benchmark median 4.1% | $51.09B6.4%up Benchmark median 2.2% | $48.02B13.9%up Benchmark median 6.7% | 4.9% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | $27.40B5.1%up Benchmark median 6.4% | $26.07B3.5%up Benchmark median 1.9% | $25.20B3.9%down Benchmark median 2.9% | $26.22B4.9%up Benchmark median 2.0% | $25.00B6.5%up Benchmark median 5.2% | 2.3% Benchmark median 4.4% |
| Stockholders' Equity | $30.77B6.9%up Benchmark median 6.8% | $28.78B5.4%up Benchmark median 5.4% | $27.31B9.8%up Benchmark median 7.3% | $24.87B8.0%up Benchmark median 2.5% | $23.02B23.3%up Benchmark median 9.0% | 7.5% Benchmark median 6.1% |
| Cash & Equivalents | $3.82B2.5%down Benchmark median 5.2% | $3.92B17.5%down Benchmark median 1.9% | $4.76B41.6%down Benchmark median 6.7% | $8.15B1.0%up Benchmark median -8.6% | $8.07B120.6%up Benchmark median -2.9% | -17.0% Benchmark median 2.0% |
| Total Debt | $9.38B4.8%up Benchmark median 2.1% | $8.95B5.0%down Benchmark median 0.2% | $9.42B11.3%down Benchmark median 0.3% | $10.62B12.4%up Benchmark median 0.1% | $9.45B2.7%down Benchmark median -0.1% | -0.2% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.61B21.6%down Benchmark median 6.3% | $7.16B35.6%up Benchmark median 4.8% | $5.28B2.7%up Benchmark median 9.9% | $5.14B33.4%down Benchmark median -0.7% | $7.71B155.7%up Benchmark median 10.7% | -7.7% Benchmark median 7.0% |
| Capital Expenditures | $4.49B6.5%down Benchmark median 5.4% | $4.81B0.3%down Benchmark median 2.8% | $4.82B39.1%up Benchmark median 11.3% | $3.47B64.0%up Benchmark median 14.0% | $2.12B7.9%up Benchmark median 8.1% | 20.7% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.12B52.6%down Benchmark median 7.3% | $2.35B416.9%up Benchmark median 6.1% | $0.46B72.8%down Benchmark median 8.8% | $1.67B70.2%down Benchmark median -11.3% | $5.60B430.3%up Benchmark median 10.2% | -33.2% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
— Not reported
Wall Street
on net earnings
FY2024 — Not reported
1.5%
Value investor
on free cash flow
FY2024 4.3%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Enterprise yield
What a dollar of enterprise value earned
11.1%
Wall Street
on EBITDA
FY2024 15.2%
8.3%
Value investor
on EBIT
FY2024 11.4%
Gap −2.8 pts: Value-investor figure 2.8 points lower
How it’s calculated
Wall Street · on EBITDA
EBITDA ÷ enterprise value (1 ÷ EV/EBITDA)
ev_ebitda (ratio table)
EV/EBITDA 9.0×Value investor · on EBIT
Operating income (EBIT) ÷ enterprise value: depreciation counts as a real cost
operating income ÷ (ev_ebitda × ebitda)
Valuation · Book yield
Net assets behind a dollar of market value
42.0%
Wall Street
on book equity
FY2024 52.3%
41.4%
Value investor
on tangible book
FY2024 51.5%
Gap −0.6 pts: Value-investor figure 0.6 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 2.4×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
7.4%
Wall Street
ROE: net income ÷ equity
FY2024 6.7%
8.7%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 9.8%
Gap +1.3 pts: Value-investor figure 1.3 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
33.8%
Wall Street
EBITDA margin
FY2024 35.8%
4.3%
Value investor
Free-cash-flow margin
FY2024 9.2%
Gap −29.5 pts: Value-investor figure 29.5 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
2.29×
Wall Street
Current ratio
FY2024 2.42×
2.29×
Value investor
Quick ratio, inventory excluded
FY2024 2.42×
Gap Same: Both views read the same
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
0.93×
Wall Street
EBITDA ÷ total debt
FY2024 1.02×
0.12×
Value investor
FCF ÷ total debt
FY2024 0.26×
Gap −0.81×: Value-investor figure 0.81 lower
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Net debt/EBITDA 0.63×Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on FCX yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on FCX and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/FCX
Valuein. (2026, October 31). FREEPORT-MCMORAN INC (FCX) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/FCX
@misc{valuein_fcx_2026,
author = {{Valuein}},
title = {FREEPORT-MCMORAN INC (FCX) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/FCX}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 13, 2026 · accession 0000831259-26-000012
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point-in-time · survivorship-free · every number traceable to its SEC filing
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