Freeport-mcmoran Inc

Basic Materials
Metal Mining
www.fcx.com

Earnings Score
Moat Score
Safety Score

Market Cap $62.95B
PE 31
Debt $10.45B
Cash $6.22B
EV $67.18B
FCF $2.11B

Earnings

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Sales & Net Margins

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Earnings	$2.00B
EBIT	$7.34B
ROE	7%
ROA	13%
FCF	$2.11B
Equity	$28.87B
Growth Stability	-271%
PE	31.43
PEG	-10.26
PB	2.18
P/FCF	29.79
P/S	2.46
Price/Cash	0.1
Debt/Equity	0.36
Debt/FCF	4.94
Net Margins	8%
Gross Margins	32%
Op. Margins	29%
Earnings CAGR	8%
Sales Growth YoY	17%
Sales Growth QoQ	3%
Sales CAGR	7%
FCF CAGR	-5%
Equity CAGR	11%
Earnings Stability	0.1
Earnings Growth YoY	16%
Earnings Growth QoQ	-15%
Earnings CAGR 5Y	-3%

Sales CAGR 5Y	15%
FCF CAGR 5Y	-33%
Equity CAGR 5Y	13%
Earnings CAGR 3Y	2%
Sales CAGR 3Y	2%
FCF CAGR 3Y	-48%
Equity CAGR 3Y	9%
Market Cap	$62.95B
Revenue	$25.64B
Dividend Yield	2%
Payout Ratio	54%
Assets	$55.40B
Total Debt	$10.45B
Cash	$6.22B
Shares Outstanding	1.44B
EV	67.18B
Earnings Score	8%
Moat Score	87%
Safety Score	55%
Final Score	50%
Working Capital	8.3B
Current Ratio	2.33
Gross Profit	$8.19B
Shares Growth 3y	-1%
Equity Growth QoQ	1%
Equity Growth YoY	8%

Assets & ROA

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Stockholders Equity & ROE

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Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. It derives key revenue from the sale of Copper.

SEC Filings

Direct access to Freeport-mcmoran Inc (FCX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Freeport-mcmoran Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Freeport-mcmoran Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 8%

Stability 10%

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Freeport-mcmoran Inc Discounted Cash Flow

Fully customizable DCF calculator online for Freeport-mcmoran Inc.

Years

Calculation mode

= $16B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$2.1B	$2B	$1.9B	$1.8B	$1.7B	$1.7B	$1.6B	$1.5B	$1.4B	$1.4B	$1.3B	$13B
DCF		$1.8B	$1.6B	$1.4B	$1.2B	$1B	$897M	$777M	$674M	$584M	$506M	$5.1B
Value	$16B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-7%	-84%	-28%	11%	14%	-2%	4%	19%	15%	8%	8%
ROA	-	-29%	-7%	10%	11%	3%	6%	17%	14%	12%	13%
ROE	-	-102%	-45%	16%	15%	-1%	3%	19%	14%	7%	7%

Net Margins (8.18%)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-6.73	18.84	4.44	5.9	-8.4	9.23	1.75	6.98	22.39	4.94
Debt over Equity	0.87	1.75	1.86	1.29	0.62	0.56	0.52	0.43	0.47	0.37	0.36
Growth Stability	-	-	-	-	-	-271%	43%	100%	100%	66%	-271%

Bad Debt/FCF ratio (4.94)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.36)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-271%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-27%	2%	11%	14%	-23%	-1%	61%	-0%	0%	15%
Earnings YoY growth	-	835%	-66%	-144%	43%	-109%	-351%	619%	-19%	-47%	-3%
Equity YoY growth	-	-46%	-23%	22%	58%	-2%	7%	23%	8%	10%	13%
FCF YoY growth	-	98%	-129%	257%	-42%	-162%	-190%	430%	-70%	-73%	-33%