Freeport-McMoRan Inc. (FCX) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Copper
EV/EBITDA
↑
10.67
↑+45% vs avg
5yr avg: 7.37
30Y Low2.1·High13.0
P/FCF
↑
74.31
↑+39% vs avg
5yr avg: 53.63
30Y Low3.9·High135.0
P/B Ratio
↓
2.71
+18% vs avg
5yr avg: 2.29
30Y Low0.6·High9.8
ROE
↓
7.4%
↑-34% vs avg
5yr avg: 11.3%
30Y Low-83%·High62%
Debt/EBITDA
↑
1.35
+16% vs avg
5yr avg: 1.16
30Y Low0.2·High6.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FCX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Freeport-McMoRan Inc. trades at 38.0x earnings, 50% above its 5-year average of 25.3x, sitting at the 88th percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.3x, the stock trades at a premium of 71%. On a free-cash-flow basis, the stock trades at 74.3x P/FCF, 39% above the 5-year average of 53.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $82.9B | $73.3B | $55.0B | $61.4B | $55.1B | $61.8B | $38.0B | $19.0B | $15.0B | $27.6B | $17.4B |
| Enterprise Value | $91.1B | $81.4B | $60.8B | $66.0B | $57.9B | $63.5B | $44.3B | $27.1B | $22.0B | $36.2B | $29.2B |
| P/E Ratio → | 37.96 | 33.41 | 29.29 | 33.26 | 15.90 | 14.39 | 63.46 | — | 5.75 | 15.70 | — |
| P/S Ratio | 3.22 | 2.85 | 2.16 | 2.71 | 2.36 | 2.77 | 2.74 | 1.33 | 0.79 | 1.74 | 1.19 |
| P/B Ratio | 2.71 | 2.38 | 1.91 | 2.25 | 2.22 | 2.69 | 2.04 | 1.09 | 0.86 | 2.44 | 1.88 |
| P/FCF | 74.31 | 65.67 | 23.40 | 135.01 | 33.02 | 11.04 | 36.00 | — | 8.37 | 8.43 | 18.98 |
| P/OCF | 14.78 | 13.06 | 7.69 | 11.64 | 10.73 | 8.02 | 12.60 | 12.85 | 3.89 | 5.89 | 4.66 |
P/E links to full P/E history page with 30-year chart
FCX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Freeport-McMoRan Inc.'s enterprise value stands at 10.7x EBITDA, 45% above its 5-year average of 7.4x. This is roughly in line with the Basic Materials sector median of 11.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.16 | 2.39 | 2.90 | 2.48 | 2.84 | 3.19 | 1.89 | 1.16 | 2.29 | 2.00 |
| EV / EBITDA | 10.67 | 9.54 | 6.68 | 8.09 | 6.05 | 6.48 | 12.95 | 13.02 | 3.15 | 7.11 | 8.92 |
| EV / EBIT | 14.48 | 12.50 | 8.42 | 10.12 | 7.96 | 7.69 | 18.50 | 32.33 | 4.92 | 10.18 | — |
| EV / FCF | — | 72.97 | 25.87 | 144.97 | 34.70 | 11.35 | 41.95 | — | 12.23 | 11.08 | 31.84 |
FCX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Freeport-McMoRan Inc. earns an operating margin of 24.4%, significantly above the Basic Materials sector average of 9.2%. Operating margins have compressed from 26.8% to 24.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 7.4% is modest. ROIC of 12.8% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.0% | 27.0% | 29.5% | 30.3% | 34.7% | 37.1% | 17.3% | 8.3% | 30.3% | 25.8% | 8.8% |
| Operating Margin | 24.4% | 24.4% | 27.0% | 26.8% | 32.4% | 34.9% | 13.6% | 4.7% | 27.5% | 21.3% | 5.1% |
| Net Profit Margin | 8.6% | 8.6% | 7.4% | 8.1% | 14.8% | 19.2% | 4.3% | -1.7% | 13.8% | 11.1% | -27.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | 7.4% | 6.7% | 7.1% | 14.5% | 20.6% | 3.3% | -1.4% | 18.2% | 17.1% | -35.9% |
| ROA | 3.9% | 3.9% | 3.5% | 3.6% | 7.0% | 9.5% | 1.4% | -0.6% | 6.5% | 4.7% | -9.4% |
| ROIC | 12.8% | 12.8% | 15.5% | 15.3% | 21.6% | 23.6% | 5.6% | 2.0% | 17.6% | 12.4% | 2.1% |
| ROCE | 12.4% | 12.4% | 14.3% | 13.3% | 17.4% | 19.3% | 5.0% | 1.7% | 14.5% | 10.4% | 2.0% |
FCX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Freeport-McMoRan Inc. carries a Debt/EBITDA ratio of 1.3x, which is manageable (46% below the sector average of 2.5x). Net debt stands at $8.1B ($11.5B total debt minus $3.4B cash). Interest coverage of 17.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.34 | 0.37 | 0.44 | 0.42 | 0.53 | 0.58 | 0.64 | 1.16 | 1.73 |
| Debt / EBITDA | 1.35 | 1.35 | 1.07 | 1.25 | 1.14 | 1.00 | 2.91 | 4.84 | 1.60 | 2.57 | 4.90 |
| Net Debt / Equity | — | 0.26 | 0.20 | 0.17 | 0.11 | 0.07 | 0.34 | 0.46 | 0.40 | 0.77 | 1.27 |
| Net Debt / EBITDA | 0.95 | 0.95 | 0.64 | 0.56 | 0.29 | 0.17 | 1.84 | 3.87 | 0.99 | 1.70 | 3.60 |
| Debt / FCF | — | 7.30 | 2.47 | 9.96 | 1.68 | 0.30 | 5.95 | — | 3.86 | 2.65 | 12.86 |
| Interest Coverage | 17.65 | 17.65 | 22.65 | 12.66 | 12.99 | 13.72 | 4.01 | 1.58 | 7.77 | 5.42 | -3.60 |
FCX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Freeport-McMoRan Inc.'s current ratio of 2.29x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.05x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.42x to 2.29x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.29 | 2.29 | 2.42 | 2.42 | 2.46 | 2.52 | 2.72 | 2.43 | 3.23 | 2.14 | 2.45 |
| Quick Ratio | 1.05 | 1.05 | 1.18 | 1.38 | 1.64 | 1.75 | 1.58 | 1.20 | 1.80 | 1.37 | 1.59 |
| Cash Ratio | 0.67 | 0.67 | 0.71 | 1.03 | 1.28 | 1.37 | 1.07 | 0.63 | 1.27 | 0.90 | 1.00 |
| Asset Turnover | — | 0.44 | 0.46 | 0.43 | 0.46 | 0.47 | 0.33 | 0.35 | 0.44 | 0.43 | 0.39 |
| Inventory Turnover | 2.51 | 2.51 | 2.64 | 2.61 | 2.94 | 3.13 | 2.95 | 3.33 | 2.78 | 3.02 | 3.66 |
| Days Sales Outstanding | — | 23.82 | 16.38 | 26.75 | 28.08 | 28.44 | 37.15 | 29.67 | 25.44 | 38.32 | 30.38 |
FCX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Freeport-McMoRan Inc. returns 1.2% to shareholders annually — split between a 1.0% dividend yield and 0.1% buyback yield. The payout ratio of 39.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 1.2% | 1.6% | 1.4% | 1.6% | 0.5% | 0.2% | 1.5% | 1.5% | 0.0% | 0.0% |
| Payout Ratio | 39.2% | 39.2% | 45.9% | 46.9% | 25.0% | 7.7% | 12.2% | — | 8.3% | 0.1% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 3.0% | 3.4% | 3.0% | 6.3% | 6.9% | 1.6% | — | 17.4% | 6.4% | — |
| FCF Yield | 1.3% | 1.5% | 4.3% | 0.7% | 3.0% | 9.1% | 2.8% | — | 11.9% | 11.9% | 5.3% |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.0% | 2.4% | 0.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.2% | 1.3% | 1.7% | 1.4% | 4.0% | 1.3% | 0.2% | 1.5% | 1.5% | 0.0% | 0.0% |
| Shares Outstanding | — | $1.4B | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.5B | $1.5B | $1.5B | $1.3B |
Peer Comparison
Compare FCX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FCXYou | $83B | 38.0 | 10.7 | 74.3 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 SCCO | $141B | 32.6 | 18.3 | 41.2 | 56.7% | 52.2% | 42.6% | 38.6% | 0.9 |
 TECK | $28B | 27.8 | 11.8 | — | 21.8% | 16.5% | 5.3% | 4.4% | 2.8 |
 AA | $16B | 14.2 | 9.2 | 28.8 | 13.6% | 7.6% | 20.2% | 12.7% | 0.0 |
 HBM | $9B | 15.3 | 9.2 | 44.8 | 29.1% | 25.5% | 19.7% | 12.0% | 1.1 |
 CMCL | $427M | 7.8 | 3.2 | 9.8 | 54.0% | 45.5% | 21.3% | 32.4% | 0.2 |
 NEM | $121B | 17.0 | 8.7 | 16.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 BHP | $201B | 22.3 | 8.8 | 21.7 | 82.2% | 38.0% | 17.8% | 24.0% | 1.0 |
 RIO | $201B | 14.2 | 10.0 | 33.6 | 56.4% | 29.2% | 20.2% | 18.6% | 0.7 |
 VALE | $70B | 27.5 | 5.8 | 22.7 | 34.4% | 29.0% | 7.2% | 17.7% | 1.4 |
 MP | $12B | -136.1 | — | — | -2.4% | -44.6% | -5.0% | -4.7% | — |
| Basic Materials Median | — | 22.3 | 11.0 | 25.6 | 31.3% | 9.2% | 0.0% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonFCX — Frequently Asked Questions
Quick answers to the most common questions about buying FCX stock.
What is Freeport-McMoRan Inc.'s P/E ratio?
Freeport-McMoRan Inc.'s current P/E ratio is 38.0x. The historical average is 22.7x. This places it at the 88th percentile of its historical range.
What is Freeport-McMoRan Inc.'s EV/EBITDA?
Freeport-McMoRan Inc.'s current EV/EBITDA is 10.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.7x.
What is Freeport-McMoRan Inc.'s ROE?
Freeport-McMoRan Inc.'s return on equity (ROE) is 7.4%. The historical average is 12.6%.
Is FCX stock overvalued?
Based on historical data, Freeport-McMoRan Inc. is trading at a P/E of 38.0x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Freeport-McMoRan Inc.'s dividend yield?
Freeport-McMoRan Inc.'s current dividend yield is 1.04% with a payout ratio of 39.2%.
What are Freeport-McMoRan Inc.'s profit margins?
Freeport-McMoRan Inc. has 27.0% gross margin and 24.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Freeport-McMoRan Inc. have?
Freeport-McMoRan Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.