Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona.
It is a $106B materials company. Revenue grew 0.2% over the last year, it keeps 11¢ of every dollar of sales as profit, and its net debt equals ~2.9 years of free cash flow. It trades at 35.9× earnings — in the most expensive third of its own history.
- Website
- fcx.com
- Location
- Phoenix, AZ
- Employees
- 29 000
- Sector
- Basic Materials
- Founded
- 1971
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong profitability and health; Valuation and Moat lag behind.
Valuation45
- P/E vs own history86th pct · 0/25
- FCF yield1.7% · 5/25
- P/S4.1x · 20/25
- EV/EBITDA12.3x · 20/25
Growth56
- Revenue CAGR3.2% · 6/25
- Net income CAGR-15.4% · 0/25
- EPS CAGR ~5Y30.1% · 25/25
- Fwd implied growth86.3% · 25/25
Profitability77
- ROIC9.2% · 12/25
- ROE15.3% · 20/25
- Net margin11.4% · 20/25
- Operating margin26.8% · 25/25
Health88
- Altman Z2.98 · 18/25
- Current ratio2.07 · 25/25
- Interest coverage20.0x · 25/25
- Net cash / debtD/A 9% · 20/25
Quality50
- Piotroski F6/9 · 15/25
- Beneish M-2.28 · 20/25
- FCF conversion60% · 15/25
- Margin stabilityσ 27.8% · 0/25
Moat44
- ROIC >12% years7/10 yrs · 20/25
- Median gross margin28.0% · 6/25
- FCF-positive years9/10 yrs · 18/25
- Worst-year net marginworst -28.0% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2021FinancialBest year on record$4.31B net income
- FY2020FinancialPositive free cash flow every year since6-year streak
- FY2017FinancialTurned profitable$1.82B net income after a loss year
- FY2016FinancialRevenue already above $10B$14.8B in first reported year
- 2012AcquisitionThe company announced agreements to acquire affiliated companies McMoRan Exploration Company and Plains…
- Mar 19, 2007AcquisitionThe company acquired Phelps Dodge (for $25.9 Billion) and became the largest copper producer of…
- 1995MilestoneThe company completed the corporate spin-off, first announced in May 1994, of its entire interest in…
- Apr 7, 1981AcquisitionFreeport Minerals Company merged with the McMoRan Oil and Gas Company
- 1971FoundedThe company changed its name to Freeport Minerals Company, (not to be confused with Freeport Minerals…
- 1932AcquisitionFreeport Sulphur Company acquired the sulfur rights for Lake Grande Ecaille and vicinity in Plaquemines…
- Feb 19, 1931AcquisitionThe company announced on February 19, 1931, the acquisition of a controlling interest in the Cuban American…
- 1928ProductShareholder and scion of one of the founding investment firms, John Langbourne Williams & Sons, Langbourne…
- 1919IPOThe stock was listed on the NYSE since 1919
- 1912MilestoneThe Bryan Mound salt dome just south of Freeport became the second Frasch sulphur mine in the world in 1912
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Interest covered 20.0× by operating earnings
Watch-outs
- Loss-making in 2 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+0.2% YoY
- Profitable — makes more than it spends$2.94B TTM
- Profit growing — earnings are higher than last year-13.9% YoY
- Generates cash — cash left after running and investing$1.76B TTM
- Debt under control — could handle its obligations~2.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$106B market cap
- Not printing shares — share count not ballooning — you keep your slice-1.2% shares over ~5y
- Proven track record — years of profitability behind it8/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 3.0 — grey
- Pays a dividend — returns cash to shareholdersyield 0.82%
- Valuation not extreme — price not wildly above earningsP/E 35.9
Peer comparisonFreeport-McMoran Inc. vs 6 largest basic materials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| FCX this company | $105.8B | 35.9 | +0.2% | 11.4% | Strong |
| LIN Linde plc Ordinary Share | $223.2B | 30.8 | +6.6% | 20.4% | Solid |
| SCCO Southern Copper Corporation | $176.8B | 31.2 | +32.8% | 35.9% | Strong |
| NEM Newmont Corporation | $124.2B | 14.4 | +25.2% | 33.4% | Strong |
| AEM Agnico Eagle Mines Ltd. | $95.8B | 15.9 | +43.7% | 37.5% | Strong |
| B Barrick Mining Corporation | $67.5B | 10.1 | +9.2% | 31.6% | Strong |
| WPM Wheaton Precious Metals Corp. | $63.0B | 30.2 | +80.2% | 63.6% | Solid |
Head-to-head: FCX vs LIN · FCX vs SCCO · FCX vs NEM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/FCX
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of FCX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $73.68 · market cap $106B.