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Freeport-McMoRan (FCX) stock

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NYSE: FCX NYSE Copper Next results ~January 21, 2027

C+ Fundamentals grade

Freeport-McMoRan is a US-listed company in the copper industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$34

Valuation models combined (3)

Base case. Range ~$26–$42. Weighted average of 3 models (forward price-to-earnings vs peers, residual income, justified price-to-book), the forward price-to-earnings vs peers counting double.

Price vs value

Overvalued

The price is above our entire value range; our base value is 46% below it.

Price used: $62.97, November 2, 2026

Freeport-McMoRan valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Freeport-McMoRan files

Where Freeport-McMoRan stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $25.9bn, up 0.2% on a year earlier, slower than 6.3% a quarter earlier. That puts it 825 of 931 for growth among all the companies we cover. Free-cash-flow margin held at 6.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $18.61 a share, against a share price of $69.03.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 21, 2027 (estimated)

Freeport-McMoRan's trailing-twelve-month revenue grew 0.2% year on year, with a free-cash-flow margin of 14.5%. Where it stands out: days sales outstanding of 10 days ranks 7 of 125 materials companies we cover. Where it lags: change in growth rate of -6.1pp ranks 146 of 168 materials companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 122.1% while net income grew 53.1%: a 69pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 26.8% of revenue is left as operating profit, against a median of 7.0% for materials companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.8% over 90 days.

Things to watch

  • Priced above our value. The share price of $62.97 is 46% above our value per share of $34.
  • Growth slowing. The growth rate is 6.1 points lower than a quarter earlier.
  • Volatile shares. Over the past year the shares showed annualised volatility of 48% and a beta of 2.2 against the S&P 500.
  • Insiders selling. 6 insiders sold $46M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 2.7 points on a year ago.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.88 against an average estimate of $0.83: beat by 5.9%
Revenue
$7.03bn, down 7.3% on a year earlier
Share reaction
+2.2% in the first session after the results on October 27, 2026, against +0.9% for the S&P 500
Guidance given
copper sales volume 3 (the year 2026); gold sales volume 649 (the year 2026)
Next report
January 21, 2027; average EPS estimate $1.03

Freeport-McMoRan's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.8%
  • 1 week-3.4%
  • 1 month-12.4%
  • This year+25.1%
  • 1 year+52.4%
  • 5 years+76.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$25.9B
Operating margin
26.8%
Net margin
11.4%
EPS (TTM, diluted)
$2.04

Growth

Revenue growth
+0.2%
Change in growth rate
−6.1 pts
Share count change
−0.1%

Cash

Free cash flow (TTM)
$3.8B
FCF margin
14.5%
Stock pay % of revenue
0.5%

Earnings

Last results
October 27, 2026
Next results (est.)
January 25, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Our research
  4. Announcement
  5. Results
  6. Announcement
  7. Announcement
  8. Insider trade
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Freeport-McMoRan valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$34
Price used
$62.16close November 3, 2026
Implied change
▼ 45%
Uncertainty
Low

How we got here: the combined value of 3 valuation models built for a business like Freeport-McMoRan (see the models table below and how they are combined) , with a 10.48% cost of equity. The models span ~$26–~$42; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Freeport-McMoRan as an operating company, with every model that fits that kind of business. Cost of equity 10.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.23 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$42 ~$33–$99 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$26 ~$20–$35 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$27 ~$24–$31 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Cash-flow model (DCF) Free cash flow after stock pay, grown then faded to 2.5%, discounted at 8.5%. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: Noncontrolling ownership is material. Its fair value and share of cash flow must be valued separately; a book-value deduction is insufficient.
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$34 ~$26–$42 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Freeport-McMoRan with Materials sector in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$6.08$11.85$17.04$9.35$12.12$24.13$38.94$36.08$41.02$37.16$50.32$62.97
Market value$6.6bn$15.6bn$24.8bn$13.6bn$17.6bn$35.3bn$57.7bn$52.4bn$59.2bn$53.7bn$72.6bn$90.9bn
+ Net debt (− = net cash)$20.3bn$11.8bn$8.7bn$6.9bn$7.8bn$6.1bn$1.4bn$2.5bn$4.7bn$5.0bn$5.6bn$5.3bn
Enterprise value$26.8bn$27.4bn$33.5bn$20.6bn$25.4bn$41.3bn$59.1bn$54.8bn$63.9bn$58.7bn$78.2bn$96.2bn
Multiples
Price / sales 0.5x1.1x1.5x0.7x1.2x2.5x2.5x2.3x2.6x2.1x2.8x3.5x
Price / earnings ——13.6x5.2x—58.8x13.4x15.1x32.0x28.4x32.9x30.9x
Price / free cash flow —16.9x7.6x7.2x—33.4x10.3x31.4x130.1x22.8x65.1x—
EV / EBITDA ——6.2x3.2x10.1x10.4x5.7x6.1x7.7x6.4x8.9x10.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard Freeport-McMoRan's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 17 / 20

    Cash operating profit has been a median 13.0% of total assets over 9 years.

  • Pricing power 3 / 20

    Gross margin has been a median 29.3%, moving by 9.6 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 26.8%; its worst year was 4.5%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 8 of 10 years, at a median 10.5% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 2.1% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 21, 2027, before the open. Analysts expect revenue of $8.9bn and EPS of $1.03 (range $0.95 to $1.23) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.33 +88% $29.7bn +15%
Next $4.33 +30% $36.7bn +23%

Next year's EPS estimate has moved +5.8% in 90 days, across 17 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +11.2% on 90 days ago. In the last 30 days, 9 analysts raised Freeport-McMoRan's forecast and 1 cut it.

Consensus EPS forecast Freeport-McMoRan, last 90 days
$2.50 $3.00 $3.50 $4.00 $4.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.00 Current fiscal year, 60 days ago: $3.02 Current fiscal year, 30 days ago: $3.05 Current fiscal year, 7 days ago: $3.18 Current fiscal year, Now: $3.33 $3.33 Next fiscal year, 90 days ago: $4.09 Next fiscal year, 60 days ago: $4.14 Next fiscal year, 30 days ago: $4.14 Next fiscal year, 7 days ago: $4.32 Next fiscal year, Now: $4.33 $4.33

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.00$4.09
60 days ago $3.02$4.14
30 days ago $3.05$4.14
7 days ago $3.18$4.32
Now $3.33$4.33

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.83 $0.88 +5.9%
Jun 2026 $0.62 $0.74 +18.7%
Mar 2026 $0.47 $0.57 +21.9%
Dec 2025 $0.32 $0.47 +46.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 27, 2026
  • copper sales volume the year 2026 about 3bn Lowered vs about 3.1bn
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • gold sales volume the year 2026 about 649k Lowered vs about 650k
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • molybdenum sales volume the year 2026 about 93m Maintained vs about 93m
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • consolidated unit net cash costs per pound of copper the year 2026 about 1.9 Lowered vs about 3.1bn
    “Based on achievement of current sales volume and cost estimates and assuming average prices of $4,000 per ounce of gold and $32.00 per pound of molybdenum in fourth-quarter 2026, consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs) for FCX's copper mines are expected to average $1.90 per pound of copper for the year 2026 (including $1.68 per pound of copper in fourth-quarter 2026).” source
  • operating cash flows the year 2026 about $8.5bn Raised vs about 8.3bn
    “Assuming prices of $6.50 per pound for copper, $4,000 per ounce for gold and $32.00 per pound for molybdenum in fourth-quarter 2026, operating cash flows are expected to approximate $8.5 billion, net of $0.6 billion of working capital and other uses, for the year 2026.” source
  • capital expenditures the year 2026 about $4.4bn Raised vs about 4.3bn
    “Capital expenditures are expected to approximate $4.4 billion, including $3.0 billion for major mining projects, for the year 2026.” source
Show 17 more items
  • capital expenditures for major mining projects the year 2026 about $3bn Maintained vs about 3bn
    “Capital expenditures are expected to approximate $4.4 billion, including $3.0 billion for major mining projects, for the year 2026.” source
  • capital expenditures for planned major mining projects the year 2026 about $1.4bn
    “Projected capital expenditures for major mining projects include $1.4 billion for planned projects, primarily associated with underground mine development and supporting mill and power capital costs in the Grasberg minerals district and a leaching project at El Abra, and $1.6 billion for discretionary growth projects.” source
  • capital expenditures for discretionary growth projects the year 2026 about $1.6bn
    “Projected capital expenditures for major mining projects include $1.4 billion for planned projects, primarily associated with underground mine development and supporting mill and power capital costs in the Grasberg minerals district and a leaching project at El Abra, and $1.6 billion for discretionary growth projects.” source
  • unit net cash costs per pound of copper - U.S. copper mines the year 2026 about 3.08
    “Based on achievement of current sales volume and cost estimates and assuming an average price of $32.00 per pound of molybdenum in fourth-quarter 2026, average unit net cash costs (net of by-product credits) for the U.S. copper mines are expected to approximate $3.08 per pound of copper for the year 2026.” source
  • unit net cash costs per pound of copper - South America operations the year 2026 about 2.59 Lowered vs about 1bn
    “Based on achievement of current sales volume and cost estimates and assuming an average price of $32.00 per pound of molybdenum in fourth-quarter 2026, average unit net cash costs (net of by-product credits) for South America operations are expected to approximate $2.59 per pound of copper for the year 2026.” source
  • unit net cash credits per pound of copper - PTFI · PTFI (Indonesia) the year 2026 about 1.25
    “Based on achievement of current sales volume and cost estimates and assuming an average price of $4,000 per ounce of gold in fourth-quarter 2026, average unit net cash credits (including by-product credits and excluding idle facility and restoration costs) for PTFI are expected to approximate $1.25 per pound of copper for the year 2026.” source
  • unit net cash costs per pound of molybdenum - Molybdenum mines the year 2026 about 18.66
    “Average unit net cash costs for the Molybdenum mines are expected to approximate $18.66 per pound of molybdenum for the year 2026, based on achievement of current sales volume and cost estimates.” source
  • copper sales volume - U.S. copper mines the year 2026 about 1.3bn
    “Consolidated copper sales from FCX's U.S. copper mines are expected to approximate 1.3 billion pounds for the year 2026.” source
  • copper sales volume - South America operations the year 2026 about 1bn Maintained vs about 1bn
    “Copper sales from South America operations are expected to approximate 1.0 billion pounds for the year 2026.” source
  • copper sales volume - PTFI · PTFI (Indonesia) the year 2026 about 0.7bn
    “Consolidated sales volumes from PTFI are expected to approximate 0.7 billion pounds of copper and 632 thousand ounces of gold for the year 2026.” source
  • gold sales volume - PTFI · PTFI (Indonesia) the year 2026 about 632k
    “Consolidated sales volumes from PTFI are expected to approximate 0.7 billion pounds of copper and 632 thousand ounces of gold for the year 2026.” source
  • incremental copper production from leaching and technology initiatives · leaching and technology innovation initiatives 2027 about 300m
    “FCX is targeting an increase in production from these initiatives from the current run rate of approximately 220 million pounds of copper per annum to 300 million pounds in 2027, with potential for further significant increases in recoverable metal in future years.” source
  • copper sales volume fourth-quarter 2026 about 875m
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • gold sales volume fourth-quarter 2026 about 300k
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • molybdenum sales volume fourth-quarter 2026 about 22m
    “Consolidated sales are expected to approximate 3.0 billion pounds of copper, 649 thousand ounces of gold and 93 million pounds of molybdenum for the year 2026, including 875 million pounds of copper, 300 thousand ounces of gold and 22 million pounds of molybdenum in fourth-quarter 2026.” source
  • consolidated unit net cash costs per pound of copper fourth-quarter 2026 about 1.68
    “Based on achievement of current sales volume and cost estimates and assuming average prices of $4,000 per ounce of gold and $32.00 per pound of molybdenum in fourth-quarter 2026, consolidated unit net cash costs (net of by-product credits and excluding idle facility and restoration costs) for FCX's copper mines are expected to average $1.90 per pound of copper for the year 2026 (including $1.68 per pound of copper in fourth-quarter 2026).” source
  • PTFI operating capacity · Grasberg Block Cave ramp-up mid-2027 about 80%
    “PTFI continues to expect to reach 80% of capacity in mid-2027 and approach full capacity by year-end 2027.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

23 analysts, Oct 2026
Buy1878%
Hold417%
Sell14%

Monthly trend

  1. Oct 2026612423
  2. Sep 2026612423
  3. Aug 2026612423
  4. Jul 2026613323

Counts of recommendations published by analysts covering Freeport-McMoRan, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.8%
of tradable shares
Days to cover
2.41
at average volume
Short interest, 1 month
−24%
to October 15, 2026
Held by institutions
90%
of shares
Held by insiders
0.7%
of shares
Employees
29,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +52.4%

$41.32 on October 31, 2025 to $62.97

ThenNowEffect
Revenue (last 12 months) $25.8bn $25.9bn +0.2%
Net margin 7.5% 11.4% +52.8%
P/E multiple 31.0x 30.9x −0.5%
Share count 1445m 1443m +0.1%

Biggest factor: net margin.

Last 3 years +85.9%

$33.87 on November 3, 2023 to $62.97

ThenNowEffect
Revenue (last 12 months) $21.9bn $25.9bn +18.2%
Net margin 9.6% 11.4% +18.3%
P/E multiple 23.2x 30.9x +33.2%
Share count 1441m 1443m −0.2%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FCX+61%−7%+14%−9%+35%+25%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FCX58%42%42%33%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FCX−32%−51%−29%−30%−32%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 73% from January 22, 2018 to March 18, 2020. Getting back needed a 265% gain, reached on November 9, 2020, 236 days after the low.

Price behaviour

52-week range
$38.29 – $79.74
From 52-week high
−21.0%
vs 50-day average
−11.5%
vs 200-day average
−3.1%
Volatility (1 year)
48%
Beta vs S&P 500
2.23

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±3.5%
After a week
4 up, 7 down
typical move ±8.1%
After a month
3 up, 8 down
typical move ±8.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 27, 2026 +2.2% +0.9% — —
October 2, 2026 +4.8% +1.4% +6.4% −8.9%
July 23, 2026 −3.7% −1.1% −2.4% +17.9%
April 23, 2026 −13.2% +0.4% −17.9% −11.9%
January 22, 2026 −0.3% +0.6% +7.5% +8.2%
October 23, 2025 +1.4% +1.4% +2.3% −2.2%
July 23, 2025 −2.7% +0.9% −14.5% −8.9%
April 24, 2025 +6.1% +2.8% +3.5% +10.9%
March 31, 2025 −0.8% +1.0% −21.0% −5.8%
January 23, 2025 −3.3% +0.3% −6.3% −5.1%
October 22, 2024 0.0% −1.0% −2.9% −8.8%
July 23, 2024 −4.0% −2.4% −4.7% −4.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Freeport-McMoRan’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.21× the last 60 days’ realised volatility , richer than 57% of the 229 stocks we screen today.
  • Puts and calls are priced at about the same implied volatility.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

FCX Freeport-McMoRan Grade B $63.29

Own 100 shares, sell the $65.00 call expiring December 4, 2026 (32 days) for $2.72 a share — $272 per contract.

Previous session · Bid $2.72, ask $3.50, quoted Mon 2 Nov, 17:23 New York time with FCX at $63.29. Option prices move with the shares: check the live chain at your broker before trading.

  • If FCX ends below $65.00: you keep your shares and the $272 — 4.3% extra on the position, 49.0% a year at that pace.
  • If it ends above $65.00: your shares are sold at $65.00, a total return of 7.0% including the premium — at or above our value of ~$35.
$443 $0 −$1.2k Break-even $60.57 Price $63.29 ← Our value ~$35
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$272
Annualised
49.0%
Break-even
$60.57
Max gain
$443
Chance of selling
~47%

Collar

Own the shares, buy the $60.00 put and sell the $65.00 call, both expiring December 4, 2026 (32 days).

  • Net credit of $0.23 a share ($23.00 per contract of 100 shares).
  • Worst case at expiry: -4.8%, if the shares fall below $60.00 (-5.2% from today).
  • Best case at expiry: +3.1%, if the shares rise above $65.00 (+2.7%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $35.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Freeport-McMoRan in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Freeport-McMoRan
$22B $23B $24B $25B $26B $27B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $22.7B Revenue (TTM), FY23 Q4: $22.9B Revenue (TTM), FY24 Q1: $23.8B Revenue (TTM), FY24 Q2: $24.7B Revenue (TTM), FY24 Q3: $25.6B Revenue (TTM), FY24 Q4: $25.5B Revenue (TTM), FY25 Q1: $24.9B Revenue (TTM), FY25 Q2: $25.8B Revenue (TTM), FY25 Q3: $26B Revenue (TTM), FY25 Q4: $25.9B Revenue (TTM), FY26 Q1: $26.4B Revenue (TTM), FY26 Q2: $25.9B $25.9B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $22.7B
FY23 Q4 $22.9B
FY24 Q1 $23.8B
FY24 Q2 $24.7B
FY24 Q3 $25.6B
FY24 Q4 $25.5B
FY25 Q1 $24.9B
FY25 Q2 $25.8B
FY25 Q3 $26B
FY25 Q4 $25.9B
FY26 Q1 $26.4B
FY26 Q2 $25.9B
Revenue growth, TTM YoY Freeport-McMoRan
-5% 0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -2.1% Revenue growth, TTM YoY, FY23 Q4: 0.3% Revenue growth, TTM YoY, FY24 Q1: 10.3% Revenue growth, TTM YoY, FY24 Q2: 12.7% Revenue growth, TTM YoY, FY24 Q3: 12.9% Revenue growth, TTM YoY, FY24 Q4: 11.4% Revenue growth, TTM YoY, FY25 Q1: 4.5% Revenue growth, TTM YoY, FY25 Q2: 4.6% Revenue growth, TTM YoY, FY25 Q3: 1.4% Revenue growth, TTM YoY, FY25 Q4: 1.8% Revenue growth, TTM YoY, FY26 Q1: 6.3% Revenue growth, TTM YoY, FY26 Q2: 0.2% 0.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -2.1%
FY23 Q4 0.3%
FY24 Q1 10.3%
FY24 Q2 12.7%
FY24 Q3 12.9%
FY24 Q4 11.4%
FY25 Q1 4.5%
FY25 Q2 4.6%
FY25 Q3 1.4%
FY25 Q4 1.8%
FY26 Q1 6.3%
FY26 Q2 0.2%
Operating margin (TTM) Freeport-McMoRan
25% 26% 27% 28% 29% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 26.6% Operating margin (TTM), FY23 Q4: 27.2% Operating margin (TTM), FY24 Q1: 26.3% Operating margin (TTM), FY24 Q2: 28.0% Operating margin (TTM), FY24 Q3: 28.6% Operating margin (TTM), FY24 Q4: 27.0% Operating margin (TTM), FY25 Q1: 26.3% Operating margin (TTM), FY25 Q2: 26.8% Operating margin (TTM), FY25 Q3: 26.7% Operating margin (TTM), FY25 Q4: 25.2% Operating margin (TTM), FY26 Q1: 27.8% Operating margin (TTM), FY26 Q2: 26.8% 26.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 26.6%
FY23 Q4 27.2%
FY24 Q1 26.3%
FY24 Q2 28.0%
FY24 Q3 28.6%
FY24 Q4 27.0%
FY25 Q1 26.3%
FY25 Q2 26.8%
FY25 Q3 26.7%
FY25 Q4 25.2%
FY26 Q1 27.8%
FY26 Q2 26.8%
FCF margin (TTM) Freeport-McMoRan
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 2.3% FCF margin (TTM), FY23 Q4: 2.0% FCF margin (TTM), FY24 Q1: 4.9% FCF margin (TTM), FY24 Q2: 6.1% FCF margin (TTM), FY24 Q3: 8.2% FCF margin (TTM), FY24 Q4: 9.2% FCF margin (TTM), FY25 Q1: 6.4% FCF margin (TTM), FY25 Q2: 6.5% FCF margin (TTM), FY25 Q3: 6.2% FCF margin (TTM), FY25 Q4: 4.3% FCF margin (TTM), FY26 Q1: 6.6% FCF margin (TTM), FY26 Q2: 14.5% 14.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 2.3%
FY23 Q4 2.0%
FY24 Q1 4.9%
FY24 Q2 6.1%
FY24 Q3 8.2%
FY24 Q4 9.2%
FY25 Q1 6.4%
FY25 Q2 6.5%
FY25 Q3 6.2%
FY25 Q4 4.3%
FY26 Q1 6.6%
FY26 Q2 14.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Freeport-McMoRan took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $25.9B
  2. Cost of revenue $18.6B · 71.8%
  3. Gross profit $7.3B · 28.2%
  4. Selling, general and admin $545M · 2.1%
  5. Other operating costs $234M · 0.9%
  6. Operating income $6.5B · 25.2%
  7. Income tax $2.2B · 8.6%
  8. Interest and other $2.1B · 8.1%
  9. Net income $2.2B · 8.5%

Shares of revenue. Source: Freeport-McMoRan's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 20.9 18.0 20.9 20.0 14.6 14.8 16.4 18.6 14.4 14.2 22.8 22.8 22.9 25.5 25.9 25.9
Gross profit — — — 1.5 −12.8 −2.7 4.4 5.2 1.3 2.5 8.8 7.7 7.2 7.7 7.3 7.0
EBITDA — — — 3.6 −10.0 −0.1 5.4 6.5 2.5 4.0 10.4 9.1 8.3 9.1 8.8 9.1
Operating income 9.1 5.8 5.4 −0.3 −13.5 −2.7 3.7 4.8 1.1 2.4 8.4 7.0 6.2 6.9 6.5 6.9
Net income 4.6 3.0 2.7 −1.3 −12.2 −4.2 1.8 2.6 −0.2 0.6 4.3 3.5 1.8 1.9 2.2 2.9
Diluted EPS $4.78 $3.19 $2.64 −$1.26 −$11.31 −$3.16 $1.25 $1.78 −$0.17 $0.41 $2.90 — — — — $2.04
Growth (year on year)
Revenue — −13.7% +16.2% −4.4% −27.0% +1.5% +10.6% +13.6% −22.7% −1.4% +60.9% −0.3% +0.3% +11.4% +1.8% +0.2%
EBITDA — — — — −380.9% — — +20.4% −61.5% +58.4% +161.4% −12.6% −8.4% +9.8% −3.8% −1.3%
Operating income — −36.4% −8.0% −105.6% — — — +28.8% −77.1% +123.4% +243.3% −15.9% −11.5% +10.3% −5.0% +0.1%
Net income — −33.3% −12.6% −149.2% — — — +43.2% −109.2% — +618.9% −19.5% −46.7% +2.2% +16.7% +53.1%
Diluted EPS — −33.3% −17.2% −147.7% — — — +42.4% −109.6% — +607.3% — — — — +53.2%
Margins
Gross margin — — — 7.5% −87.7% −18.2% 27.0% 27.7% 8.9% 17.9% 38.6% 33.8% 31.3% 30.1% 28.2% 27.1%
EBITDA margin — — — 17.8% −68.6% −0.8% 32.9% 34.9% 17.4% 27.9% 45.4% 39.8% 36.3% 35.8% 33.8% 35.1%
Operating margin 43.8% 32.3% 25.6% −1.5% −92.5% −18.4% 22.5% 25.5% 7.6% 17.2% 36.6% 30.9% 27.2% 27.0% 25.2% 26.8%
Net margin 21.8% 16.9% 12.7% −6.5% −83.8% −28.0% 11.1% 14.0% −1.7% 4.2% 18.8% 15.2% 8.1% 7.4% 8.5% 11.4%
Free-cash-flow margin 19.6% 1.6% 4.1% −7.9% −21.4% 6.2% 19.9% 10.2% −8.1% 7.4% 24.5% 7.3% 2.0% 9.2% 4.3% —
Cash flow
Cash from operations 6.6 3.8 6.1 5.6 3.2 3.7 4.7 3.9 1.5 3.0 7.7 5.1 5.3 7.2 5.6 5.9
Capital spending 2.5 3.5 5.3 7.2 6.4 2.8 1.4 2.0 2.7 2.0 2.1 3.5 4.8 4.8 4.5 —
Free cash flow 4.1 0.3 0.9 −1.6 −3.1 0.9 3.3 1.9 −1.2 1.1 5.6 1.7 0.5 2.4 1.1 —
Stock-based pay 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Free cash flow after stock pay 4.0 0.2 0.7 −1.7 −3.2 0.8 3.2 1.8 −1.2 1.0 5.5 1.6 0.3 2.2 1.0 —
Balance sheet
Cash 4.8 3.7 1.9 0.3 0.2 4.2 4.5 4.2 2.0 3.7 8.1 8.1 4.8 3.9 3.8 4.1
Total debt 3.5 3.5 20.7 18.8 20.4 16.0 13.2 11.1 9.8 9.7 9.5 10.6 9.4 8.9 9.4 9.4
Net debt (negative = net cash) −1.3 −0.2 18.8 18.6 20.3 11.8 8.7 6.9 7.8 6.1 1.4 2.5 4.7 5.0 5.6 5.3
Diluted shares 955m 954m 1,006m 1,039m 1,082m 1,318m 1,454m 1,458m 1,451m 1,461m 1,482m 1,451m 1,443m 1,445m 1,443m 1,443m
Returned to shareholders
Dividends 1.4 1.1 2.5 1.7 0.7 0.7 0.2 0.5 0.0 0.0 1.0 0.9 0.9 0.9 0.9 0.9
Buybacks — — — — — — — — 0.0 0.0 0.5 1.3 0.0 0.1 0.1 0.2
Total returned 1.4 1.1 2.5 1.7 0.7 0.7 0.2 0.5 0.0 0.0 1.5 2.2 0.9 0.9 1.0 1.1

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $59.7bn
Short-term assets $14.2bnLonger-term assets $45.6bn
What it owes, and who funded it · $47.6bn
Short-term liabilities $6.9bnLonger-term liabilities $20.6bnShareholders' equity $20.1bn
  • Short-term assets cover short-term liabilities $14.2bn of assets due within a year against $6.9bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $14.2bn short-term assets against $20.6bn of longer-dated liabilities.
  • More cash than debt $4.1bn of cash against $9.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 47% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 65% to 47% over five years.
  • A year's operating cash flow covers at least 20% of debt $5.9bn of operating cash flow against $9.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Freeport-McMoRan's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$203M
Dividends (TTM)
$866M
Returned to shareholders
28%
of free cash flow
Buybacks, last 3 fiscal years
$166M
Diluted share count
−0.1%
year over year
Total shareholder yield
1.2%
dividends 0.9% + buybacks 0.2% of market value
Dividend payout ratio
29%
of net income paid out
Sales & admin spending
2.2%
of revenue
Days sales outstanding
10 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in copper
Last 12 months unless stated FCX SCCO HBM ERO Median
Revenue, last 12 months $25.9bn $17.1bn $2.2bn $786m $9.7bn
Revenue growth, last 12 months 0.2% 38.7% 9.4% 67.1% 24.0%
Revenue growth, 3-year average 5.7% 18.0% — — 11.8%
Revenue growth, latest quarter −7.3% 39.1% — — 15.9%
Gross margin 27.1% 65.2% 33.6% 43.9% 38.7%
Operating margin 26.8% 58.6% 41.5% 34.4% 37.9%
Operating margin, 3-year average 27.2% 51.9% 22.6% — 27.2%
Net margin 11.4% 37.2% 25.7% 33.6% 29.6%
Cash from operations / revenue 22.8% 43.3% 32.0% 50.3% 37.6%
Free-cash-flow margin 14.5% 32.7% 10.9% 16.8% 15.7%
Free-cash-flow margin, 3-year average 9.0% 28.1% 11.2% — 11.2%
Stock pay / revenue 0.5% — 2.8% 3.1% 2.8%
Change in share count −0.1% −1.6% 5.1% 1.0% 0.4%

Median of all 4 companies we cover in copper. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

171 materials companies
Measure Company Peer median Rank
Revenue growth Growth 0.2% 8.3% 127 of 170
Change in growth rate Growth -6.1pp +2.4pp 146 of 168
Gross margin Profitability 27.1% 26.1% 74 of 151
Operating margin Profitability 26.8% 7.0% 27 of 140
Net margin Profitability 11.4% 3.8% 40 of 170
Free-cash-flow margin Cash generation 14.5% 5.0% 31 of 167
Stock pay as % of revenue Cash generation 0.5% 0.7% 53 of 137
Long-term debt as % of assets Balance sheet 13.7% 22.8% 48 of 147
Change in share count Balance sheet -0.1% 0.4% 57 of 161
Days sales outstanding Balance sheet 10 days 45 days 7 of 125

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Copper Cathode $8.1B 31.4% ▼ 2.0%
Copper In Concentrates $6.3B 24.3% ▼ 6.3%
Refined Copper Products $4.4B 17.0% ▲ 14.7%
Gold $3.9B 15.0% ▼ 12.3%
Molybdenum $2B 7.6% ▲ 10.1%
Other Products Or Services $749M 2.9% ▲ 15.9%
Purchased Copper $449M 1.7% ▼ 34.4%
Geography
Region Revenue Share YoY
United States $9B 34.9% ▲ 15.7%
Switzerland $5.3B 20.6% ▲ 25.5%
Japan $2.9B 11.0% ▼ 51.9%
ID $2.2B 8.4% ▲ 96.8%
Singapore $1.2B 4.8% ▲ 11.6%
United Kingdom $1.1B 4.4% ▲ 887.8%
Others Individually Immaterial Countries $1B 4.0% ▼ 3.8%
ES $723M 2.8% ▼ 31.3%
China $636M 2.5% ▼ 14.4%
CL $471M 1.8% ▲ 4.4%
Germany $332M 1.3% ▼ 33.6%
France $315M 1.2% ▲ 2.9%
EG $261M 1.0% ▲ 9.2%
South Korea $193M 0.7% ▼ 4.9%
India $163M 0.6% ▼ 40.3%
PH $3M 0.0% ▼ 98.9%

From Freeport-McMoRan's 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$78.4B
Institutions reporting
1,876
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
169 / 129

Top buyers and sellers, Q2 2026: 1,011 institutions bought and 727 sold ; the biggest buyer was Jpmorgan Chase & Co (+10.1M shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−9.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $7.7B 122.0M 9.8% ▼ 3.1%
Vanguard Capital Management LLC $5.9B 93.9M 7.5% ▲ 0.5%
Fisher Asset Management, LLC $4.2B 66.9M 5.4% ▲ 2.8%
State Street Corp $4.2B 66.5M 5.3% ▲ 3.6%
Capital Research Global Investors $2.6B 41.5M 3.3% ▲ 1.6%
Franklin Resources Inc $2.4B 37.4M 3.0% ▲ 5.8%
Bank Of America Corp $2.3B 36.4M 2.9% ▼ 14.0%
Geode Capital Management, LLC $2B 32.6M 2.6% ▲ 0.9%
Jpmorgan Chase & Co $1.9B 31.0M 2.4% ▲ 48.0%
Morgan Stanley $1.6B 26.0M 2.1% ▼ 0.9%
Vanguard Portfolio Management LLC $1.5B 24.1M 1.9% ▲ 2.0%
FMR LLC $1.3B 20.9M 1.7% ▲ 15.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Freeport-McMoRan's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $46M 14 trades by 6 insiders · 0% under pre-set plans
Net ▼ $46M net selling
Insider Date Trade Shares Price Value
Kennard Lydia H Director August 27, 2026 Sell 3,798 $79.11 $300,471
Currault Douglas N. Ii EVP & General Counsel August 25, 2026 Sell 80,000 $78.56 $6.3M
Higgins Stephen T. EVP & CAO August 5, 2026 Sell 14,277 $69.50 $992,252
Mikes Ellie L. Chief Accounting Officer August 5, 2026 Sell 4,773 $70.00 $334,110
Higgins Stephen T. EVP & CAO July 30, 2026 Sell 7,550 $63.00 $475,650
Higgins Stephen T. EVP & CAO February 20, 2026 Sell 29,654 $63.00 $1.9M
Mikes Ellie L. Chief Accounting Officer February 18, 2026 Sell 11,000 $62.03 $682,345
Robertson Maree E. EVP & CFO February 13, 2026 Sell 48,500 $61.55 $3M
Currault Douglas N. Ii EVP & General Counsel February 11, 2026 Sell 75,000 $64.52 $4.8M
Adkerson Richard C Chairman of the Board February 11, 2026 Sell 20,136 $65.21 $1.3M
Adkerson Richard C Chairman of the Board February 11, 2026 Sell 132,824 $64.57 $8.6M
Adkerson Richard C Chairman of the Board February 10, 2026 Sell 248,031 $62.80 $15.6M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 57 trades and filings

In the last 12 months, 2 members of Congress disclosed 2 purchases and 0 sales of Freeport-McMoRan shares.

  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded April 15, 2026, filed May 19, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded November 18, 2025, filed December 15, 2025
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded October 17, 2025, filed November 18, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 25, 2027 estimated from the company's past filing pattern, not announced

  • October 27, 2026
  • October 2, 2026
  • July 23, 2026
  • April 23, 2026
  • January 22, 2026
  • October 23, 2025

Recent SEC filings

Data status

When each part of this page on Freeport-McMoRan was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Freeport-McMoRan in brief

What does Freeport-McMoRan do?
Freeport-McMoRan is a US-listed company in the copper industry. Its financial year ends in December.
What is Freeport-McMoRan's stock ticker?
Freeport-McMoRan trades under the ticker FCX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Freeport-McMoRan's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Freeport-McMoRan reported revenue of $25.9B, 0.2% higher than a year earlier, according to its SEC filings.
What is Freeport-McMoRan's free cash flow?
Freeport-McMoRan's free-cash-flow margin is 14.5% of revenue over the trailing twelve months, ranking 31 of the 167 materials companies we cover.
Who are Freeport-McMoRan's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Fisher Asset Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Freeport-McMoRan buying back stock, and does it pay a dividend?
Freeport-McMoRan spent $203M on share repurchases over the trailing twelve months, and its diluted share count fell 0.1% over the year.
What is Freeport-McMoRan's market cap?
On November 2, 2026, Freeport-McMoRan's market capitalisation was about $90.9B, with a price-to-earnings ratio of 30.9 and net debt of $5.3B. Market figures come from third-party market data and may be delayed.
Does Freeport-McMoRan pay a dividend?
Yes: Freeport-McMoRan paid $866M in dividends over the trailing twelve months, a dividend yield of 0.95% and a payout ratio of 29.4%.
How much debt does Freeport-McMoRan have?
Freeport-McMoRan's debt-to-equity ratio is 46.7%, from its latest balance sheet (64.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Freeport-McMoRan's competitors?
In our Copper peer group, the companies closest to Freeport-McMoRan are Southern Copper Corp/, Hudbay Minerals Inc. and Ero Copper Corp. The side-by-side comparison below sets their revenue, margins and growth against Freeport-McMoRan's.
Are insiders buying or selling Freeport-McMoRan stock?
Over the last 12 months, Freeport-McMoRan's directors and officers reported 0 open-market purchases and 14 sales on Form 4. The insider trading page charts every trade.
When is Freeport-McMoRan's next earnings date?
Around January 21, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Freeport-McMoRan announces its own schedule.