Freeport-McMoRan Inc. (FCX) Balance Sheet
FCX balance sheet, 2025
December 31, 2025 · U.S. dollars$58.17B assets = $27.40B liabilities + $30.77B equity
Both columns are drawn to the same scale: what FCX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FCX financial health
Current ratio2.29
Comfortable · current assets cover current liabilities 2.29×
Debt / equity0.61
Moderate leverage · $0.61 of debt for each $1 of equity
Equity / assets32.5%
Balanced · of assets funded by shareholders
Cash / debt35.2%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.7%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
FCX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $37.32B2016 | $58.17B2025 | +5.1%/yr | |
| Total liabilities | $28.06B2016 | $27.40B2025 | −0.3%/yr | |
| Shareholders’ equity | $6.05B2016 | $18.90B2025 | +13.5%/yr | |
| Cash & short-term investments | $4.25B2016 | $4.05B2025 | −0.5%/yr | |
| Total debt | $16.03B2016 | $11.50B2025 | −3.6%/yr | |
| Net cash (debt) | −$11.78B2016 | −$7.45B2025 | +$4.3B | |
| Working capital | $6.17B2016 | $7.77B2025 | +$1.6B | |
| Book value per share | $4.592016 | $13.102025 | +12.4%/yr | |
| Current ratio | 2.452016 | 2.292025 | −0.16 | |
| Debt / equity | 2.652016 | 0.612025 | −2.04 | |
| Shares outstanding | 1.32B2016 | 1.44B2025 | +1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FCX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
FCX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
FCX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FCX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $4.05B | $3.92B | $5.97B | $8.15B | $8.07B | $3.66B | $2.02B | $4.22B | $4.53B | $4.25B |
| Cash & equivalents | $3.35B | $3.92B | $5.67B | $8.15B | $8.07B | $3.66B | $2.02B | $4.22B | $4.53B | $4.25B |
| Short-term investments | $700.0M | — | $300.0M | $500.0M | — | — | $100.0M | $109.0M | $11.0M | $7.0M |
| Receivables | $1.68B | $1.14B | $1.66B | $1.79B | $1.74B | $1.41B | $1.17B | $1.32B | $1.67B | $1.22B |
| Inventory | $7.49B | $6.81B | $6.06B | $5.18B | $4.50B | $3.89B | $3.96B | $4.76B | $3.89B | $3.64B |
| Other current assets | $563.0M | $1.42B | $375.0M | $492.0M | $523.0M | $341.0M | $655.0M | $422.0M | $695.0M | $1.33B |
| Total current assets | $13.79B | $13.30B | $14.06B | $15.61B | $14.83B | $9.30B | $7.80B | $10.72B | $10.78B | $10.44B |
| Property, plant & equipment (net) | $40.74B | $38.51B | $35.30B | $32.63B | $30.34B | $29.82B | $29.58B | $28.48B | $22.84B | $23.29B |
| Goodwill & intangible assets | $432.0M | $428.0M | $422.0M | $416.0M | $412.0M | $802.0M | $804.0M | $796.0M | $612.0M | $610.0M |
| Long-term investments | $477.0M | $456.0M | $304.0M | $262.0M | $232.0M | $295.0M | $303.0M | $316.0M | $262.0M | $303.0M |
| Other non-current assets | $2.73B | $2.15B | $2.42B | $2.17B | $2.20B | $1.93B | $2.32B | $2.37B | $2.81B | $2.68B |
| Total assets | $58.17B | $54.85B | $52.51B | $51.09B | $48.02B | $42.14B | $40.81B | $42.69B | $37.30B | $37.32B |
| Liabilities | ||||||||||
| Accounts payable | $2.95B | $2.79B | $2.47B | $2.70B | $2.04B | $1.47B | $1.65B | $1.66B | $1.55B | $1.54B |
| Short-term debt | $569.0M | $139.0M | $850.0M | $1.07B | $410.0M | $72.0M | $49.0M | $17.0M | $1.41B | $1.23B |
| Deferred revenue | $106.0M | $91.0M | $161.0M | $76.0M | $191.0M | $65.0M | $12.0M | $35.0M | $91.0M | $82.0M |
| Total current liabilities | $6.02B | $5.50B | $5.82B | $6.34B | $5.89B | $3.42B | $3.21B | $3.32B | $5.04B | $4.26B |
| Long-term debt | $9.92B | $8.91B | $8.66B | $9.58B | $9.08B | $9.68B | $9.82B | $11.12B | $11.70B | $14.79B |
| Lease obligations | $1.11B | $790.0M | $431.0M | $332.0M | $319.0M | $228.0M | $248.0M | — | — | — |
| Other long-term liabilities | $11.46B | $11.67B | $10.72B | $10.29B | $10.03B | $10.38B | $10.33B | $10.75B | $9.27B | $9.00B |
| Total liabilities | $27.40B | $26.07B | $25.20B | $26.22B | $25.00B | $23.48B | $23.36B | $25.20B | $26.01B | $28.06B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $163.0M | $162.0M | $162.0M | $161.0M | $160.0M | $159.0M | $158.0M | $158.0M | $26.91B | $26.85B |
| Retained earnings (deficit) | $1.39B | −$170.0M | −$2.06B | −$3.91B | −$7.38B | −$11.68B | −$12.28B | −$12.39B | −$14.72B | −$16.54B |
| Treasury stock | — | — | — | −$5.70B | −$4.29B | −$3.76B | −$3.73B | −$3.73B | −$3.72B | −$3.71B |
| Accumulated other comprehensive income | −$305.0M | −$314.0M | −$274.0M | −$320.0M | −$388.0M | −$583.0M | −$676.0M | −$605.0M | −$487.0M | −$548.0M |
| Minority interest | $11.87B | $11.20B | $10.62B | $9.32B | $9.04B | $8.49B | $8.15B | $8.09B | $3.32B | $3.21B |
| Total shareholders' equity | $18.90B | $17.58B | $16.69B | $15.55B | $13.98B | $10.17B | $9.30B | $9.60B | $7.98B | $6.05B |
| Key figures | ||||||||||
| Total debt | $11.50B | $9.74B | $10.20B | $10.95B | $9.77B | $9.94B | $10.07B | $11.14B | $13.12B | $16.03B |
| Net cash (debt) | −$7.45B | −$5.82B | −$4.23B | −$2.81B | −$1.70B | −$6.28B | −$8.05B | −$6.92B | −$8.59B | −$11.78B |
| Working capital | $7.77B | $7.80B | $8.25B | $9.27B | $8.94B | $5.89B | $4.59B | $7.40B | $5.74B | $6.17B |
| Tangible book value | $18.47B | $17.15B | $16.27B | $15.14B | $13.57B | $9.37B | $8.49B | $8.81B | $7.37B | $5.44B |
| Book value per share | $13.10 | $12.17 | $11.57 | $10.72 | $9.43 | $6.96 | $6.41 | $6.59 | $5.49 | $4.59 |
| Shares outstanding | 1.44B | 1.45B | 1.44B | 1.45B | 1.48B | 1.46B | 1.45B | 1.46B | 1.45B | 1.32B |
| Current ratio | 2.29 | 2.42 | 2.42 | 2.46 | 2.52 | 2.72 | 2.43 | 3.23 | 2.14 | 2.45 |
| Quick ratio | 0.95 | 0.92 | 1.31 | 1.57 | 1.66 | 1.48 | 0.99 | 1.67 | 1.23 | 1.28 |
| Debt / equity | 0.61 | 0.55 | 0.61 | 0.70 | 0.70 | 0.98 | 1.08 | 1.16 | 1.64 | 2.65 |
| Equity / assets | 32.5% | 32.1% | 31.8% | 30.4% | 29.1% | 24.1% | 22.8% | 22.5% | 21.4% | 16.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.08B | $4.02B | $4.05B | $4.55B | $4.72B | $4.84B | $3.92B | $6.12B | $6.30B | $6.24B | $4.76B | $5.75B |
| Cash & equivalents | $4.08B | $4.02B | $3.35B | $3.85B | $4.02B | $4.54B | $3.92B | $6.02B | $6.20B | $6.14B | $4.76B | $5.75B |
| Short-term investments | — | — | $700.0M | $700.0M | $700.0M | $300.0M | — | $100.0M | $100.0M | $100.0M | $300.0M | $300.0M |
| Receivables | $716.0M | $2.05B | $1.68B | $1.46B | $1.42B | $1.31B | $1.14B | $1.55B | $1.56B | $2.24B | $1.66B | $1.28B |
| Inventory | $7.86B | $7.42B | $7.49B | $7.00B | $6.95B | $7.07B | $6.81B | $6.44B | $6.47B | $5.98B | $6.06B | $5.95B |
| Other current assets | $1.50B | $609.0M | $563.0M | $554.0M | $547.0M | $575.0M | $1.42B | $436.0M | $389.0M | $385.0M | $1.58B | $1.10B |
| Total current assets | $14.16B | $14.09B | $13.79B | $13.56B | $13.64B | $13.80B | $13.30B | $14.54B | $14.72B | $14.84B | $14.06B | $14.08B |
| Property, plant & equipment (net) | $41.70B | $41.10B | $40.74B | $40.26B | $39.84B | $39.20B | $38.51B | $37.75B | $36.78B | $36.20B | $35.30B | $34.53B |
| Goodwill & intangible assets | $0 | $0 | $432.0M | $0 | $0 | $0 | $428.0M | $0 | $0 | $0 | $422.0M | $0 |
| Long-term investments | $0 | $0 | $477.0M | $0 | $0 | $0 | $456.0M | $0 | $0 | $0 | $304.0M | $0 |
| Other non-current assets | $3.86B | $3.65B | $2.73B | $3.01B | $3.02B | $3.02B | $2.15B | $3.10B | $3.13B | $3.16B | $2.42B | $3.04B |
| Total assets | $59.73B | $58.84B | $58.17B | $56.83B | $56.49B | $56.02B | $54.85B | $55.40B | $54.63B | $54.20B | $52.51B | $51.65B |
| Liabilities | ||||||||||||
| Accounts payable | $4.58B | $4.14B | $2.95B | $4.10B | $4.29B | $4.08B | $2.79B | $3.82B | $3.91B | $3.65B | $2.47B | $3.72B |
| Short-term debt | $1.22B | $500.0M | $569.0M | $383.0M | $338.0M | $495.0M | $139.0M | $769.0M | $768.0M | $769.0M | $850.0M | $35.0M |
| Deferred revenue | — | — | $106.0M | — | — | — | $91.0M | −$3.82B | $1.12B | $1.54B | $161.0M | — |
| Total current liabilities | $6.86B | $5.91B | $6.02B | $5.53B | $5.53B | $5.94B | $5.50B | $6.25B | $6.14B | $6.30B | $5.82B | $4.86B |
| Long-term debt | $8.17B | $8.91B | $9.92B | $8.91B | $8.91B | $8.91B | $8.91B | $8.91B | $8.66B | $8.66B | $8.66B | $9.37B |
| Lease obligations | $973.0M | $987.0M | $1.11B | — | — | — | $790.0M | — | — | — | $431.0M | — |
| Other long-term liabilities | $12.48B | $12.51B | $11.46B | $11.99B | $12.05B | $11.96B | $11.67B | $11.38B | $11.15B | $11.13B | $10.72B | $10.74B |
| Total liabilities | $27.50B | $27.33B | $27.40B | $26.43B | $26.50B | $26.81B | $26.07B | $26.53B | $25.95B | $26.09B | $25.20B | $24.97B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $163.0M | $163.0M | $163.0M | $163.0M | $163.0M | $163.0M | $162.0M | $162.0M | $162.0M | $162.0M | $162.0M | $162.0M |
| Retained earnings (deficit) | $2.82B | $2.05B | $1.39B | $1.20B | $738.0M | $182.0M | −$170.0M | −$444.0M | −$970.0M | −$1.59B | −$2.06B | −$2.45B |
| Accumulated other comprehensive income | −$303.0M | −$304.0M | −$305.0M | −$310.0M | −$311.0M | −$313.0M | −$314.0M | −$273.0M | −$274.0M | −$274.0M | −$274.0M | −$317.0M |
| Minority interest | $12.11B | $12.01B | $11.87B | $11.71B | $11.79B | — | — | — | — | — | — | — |
| Total shareholders' equity | $20.11B | $19.50B | $18.90B | $18.68B | $18.21B | $17.69B | $17.58B | $17.55B | $17.40B | $16.97B | $16.69B | $16.46B |
| Key figures | ||||||||||||
| Total debt | $10.36B | $10.40B | $11.50B | $9.30B | $9.25B | $9.40B | $9.74B | $9.68B | $9.43B | $9.43B | $9.85B | $9.40B |
| Net cash (debt) | −$6.28B | −$6.38B | −$7.45B | −$4.75B | −$4.53B | −$4.56B | −$5.82B | −$3.56B | −$3.12B | −$3.18B | −$5.09B | −$3.66B |
| Working capital | $7.31B | $8.19B | $7.77B | $8.04B | $8.11B | $7.86B | $7.80B | $8.30B | $8.59B | $8.54B | $8.25B | $9.22B |
| Tangible book value | $20.11B | $19.50B | $18.47B | $18.68B | $18.21B | $17.69B | $17.15B | $17.55B | $17.40B | $16.97B | $16.27B | $16.46B |
| Book value per share | $13.94 | $13.51 | $13.10 | $12.95 | $12.61 | $12.25 | $12.17 | $12.15 | $12.04 | $11.75 | $11.56 | $11.41 |
| Shares outstanding | 1.44B | 1.44B | 1.44B | 1.44B | 1.44B | 1.44B | 1.45B | 1.44B | 1.45B | 1.44B | 1.44B | 1.44B |
| Current ratio | 2.07 | 2.39 | 2.29 | 2.45 | 2.47 | 2.32 | 2.42 | 2.33 | 2.40 | 2.35 | 2.42 | 2.90 |
| Quick ratio | 0.70 | 1.03 | 0.95 | 1.09 | 1.11 | 1.04 | 0.92 | 1.23 | 1.28 | 1.34 | 1.10 | 1.45 |
| Debt / equity | 0.52 | 0.53 | 0.61 | 0.50 | 0.51 | 0.53 | 0.55 | 0.55 | 0.54 | 0.56 | 0.59 | 0.57 |
| Equity / assets | 33.7% | 33.1% | 32.5% | 32.9% | 32.2% | 31.6% | 32.1% | 31.7% | 31.9% | 31.3% | 31.8% | 31.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.
FCX financial position
At the end of fiscal 2025 (December 31, 2025), Freeport-McMoRan had total assets of $58.2 billion (up 6.1% from a year earlier), total liabilities of $27.4 billion and shareholders' equity of $18.9 billion. It held $4.1 billion in cash and short-term investments against $11.5 billion of debt, net debt of $7.4 billion. Its current ratio was 2.29. In the latest quarter (ended June 30, 2026) total assets were $59.7 billion and equity $20.1 billion.
Related: FCX income statement, FCX cash flow statement, FCX key metrics. See the FCX stock overview for the latest quote and news.
FCX balance sheet FAQ
What are Freeport-McMoRan's total assets?
Freeport-McMoRan reported total assets of $58.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $54.8 billion a year earlier.
How much debt does Freeport-McMoRan have?
Freeport-McMoRan had $11.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.61.
How much cash does Freeport-McMoRan have?
Freeport-McMoRan held $4.1 billion in cash and short-term investments at the end of fiscal 2025; with $11.5 billion of debt that is net debt of $7.4 billion.
What is Freeport-McMoRan's book value?
Freeport-McMoRan's shareholders' equity (book value) was $18.9 billion at the end of fiscal 2025, or $13.10 per share.
What is Freeport-McMoRan's current ratio?
Freeport-McMoRan had current assets of $13.8 billion and current liabilities of $6.0 billion, a current ratio of 2.29 (it can cover its short-term obligations).
How much goodwill does Freeport-McMoRan have?
Freeport-McMoRan carried $432.0 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.