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Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. The company was incorporated in 1987 and is headquartered in Phoenix, Arizona.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $25.9B | $9.0B | $2.2B | $1.1B | 11.7% | 1.8% | 16.7% |
| 2024 | $25.5B | $9.5B | $1.9B | $2.4B | 10.7% | 11.4% | 2.2% |
| 2023 | $22.9B | $8.6B | $1.8B | $455M | 11.1% | 0.3% | -46.7% |
| 2022 | $22.8B | $9.3B | $3.5B | $1.7B | 22.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 22,780 | 22,855 | 25,455 | 25,915 |
| Operating Revenue | - | 22,780 | 22,855 | 25,455 | 25,915 |
| Cost Of Revenue | - | 15,090 | 15,695 | 17,795 | 18,618 |
| Gross Profit | - | 7,690 | 7,160 | 7,660 | 7,297 |
| Operating Expense | - | 656 | 935 | 796 | 795 |
| Selling General And Administration | - | 420 | 479 | 513 | 545 |
| Total Expenses | - | 15,746 | 16,630 | 18,591 | 19,413 |
| Operating Income | - | 7,034 | 6,225 | 6,864 | 6,502 |
| Total Operating Income As Reported | - | 7,037 | 6,225 | 6,864 | 6,518 |
| EBITDA | - | 9,294 | 8,589 | 9,467 | 8,985 |
| Normalized EBITDA | - | 9,261 | 8,579 | 9,467 | 8,969 |
| EBIT | - | 7,275 | 6,521 | 7,226 | 6,741 |
| Interest Expense | - | 560 | 515 | 319 | 369 |
| Net Interest Income | - | -560 | -515 | -319 | -369 |
| Other Non Operating Income Expenses | - | 207 | 286 | 362 | 223 |
| Other Income Expense | - | 240 | 296 | 362 | 239 |
| Interest Expense Non Operating | - | 560 | 515 | 319 | 369 |
| Net Non Operating Interest Income Expense | - | -560 | -515 | -319 | -369 |
| Pretax Income | - | 6,715 | 6,006 | 6,907 | 6,372 |
| Tax Provision | - | 2,267 | 2,270 | 2,523 | 2,221 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 11.22 | 3.80 | 0 | 5.58 |
| Net Income Continuous Operations | - | 4,479 | 3,751 | 4,399 | 4,152 |
| Net Income From Continuing And Discontinued Operation | - | 3,468 | 1,848 | 1,889 | 2,204 |
| Net Income From Continuing Operation Net Minority Interest | - | 3,468 | 1,848 | 1,889 | 2,204 |
| Net Income | - | 3,468 | 1,848 | 1,889 | 2,204 |
| Net Income Common Stockholders | - | 3,468 | 1,848 | 1,889 | 2,204 |
| Net Income Including Noncontrolling Interests | - | 4,479 | 3,751 | 4,399 | 4,152 |
| Normalized Income | - | 3,446.22 | 1,841.80 | 1,889 | 2,193.58 |
| Diluted NI Availto Com Stockholders | - | 3,468 | 1,848 | 1,889 | 2,204 |
| Basic Average Shares | - | 1,430 | 1,435 | 1,436.93 | 1,433 |
| Diluted Average Shares | - | 1,451 | 1,443 | 1,445 | 1,443 |
| Reconciled Depreciation | - | 2,019 | 2,068 | 2,241 | 2,244 |
| Reconciled Cost Of Revenue | - | 15,090 | 15,695 | 17,795 | 18,618 |
| Total Unusual Items | - | 33 | 10 | 0 | 16 |
| Total Unusual Items Excluding Goodwill | - | 33 | 10 | 0 | 16 |
| Minority Interests | - | -1,011 | -1,903 | -2,510 | -1,948 |
| Net Income Discontinuous Operations | 0 | - | - | - | - |
| Earnings From Equity Interest Net Of Tax | - | 31 | 15 | 15 | 1 |
| Special Income Charges | - | 33 | 10 | 0 | 16 |
| Other Special Charges | - | -31 | -10 | - | - |
| Gain On Sale Of Ppe | - | 2 | 0 | 0 | 16 |
| Other Operating Expenses | - | 236 | 456 | 283 | 250 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Freeport-McMoRan Inc.this co. | FCX | $100.2B | 45.46↑ premium | 5.30 | 11.7% | 11.89 |
| Newmont Corporation | NEM | $115.6B | 16.32 | 3.41 | 20.9% | 8.06 |
| The Sherwin-Williams Company | SHW | $74.0B | 28.82 | 16.10 | 55.9% | 19.36 |
| Ecolab Inc. | ECL | $71.6B | 34.49 | 7.33 | 21.2% | 20.87 |
| CRH plc | CRH | $71.2B | 19.09 |
| - |
| - |
| - |
| - |
| - |
| 2.97 |
| 15.5% |
| 11.17 |
| Air Products and Chemicals, Inc. | APD | $63.0B | -159.66 | 4.19 | -2.6% | 59.47 |
| Nucor Corporation | NUE | $59.7B | 34.25 | 2.85 | 8.3% | 15.31 |
| Corteva, Inc. | CTVA | $51.8B | 47.36 | 2.15 | 4.5% | 16.23 |
| Steel Dynamics, Inc. | STLD | $39.9B | 33.68 | 4.46 | 13.2% | 20.51 |
| Peer Median | - | 31.25 | 3.80 | 14.4% | 17.80 | |