Freeport-McMoRan Inc. (FCX) Key Metrics
FCX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $99.86B
- Enterprise value
- $110.51B
- P/E (TTM)
- 34.3 10-yr median 22.6
- Forward P/E
- 18.1
- PEG ratio
- 4.54
- Price / sales
- 3.9 10-yr median 2.3
- Price / book
- 5.2 10-yr median 3.5
- EV / EBITDA
- 12.0 10-yr median 6.9
- Dividend yield
- 0.86% $0.60 a year
- Beta
- 1.39
FCX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFCX valuation Price multiples at each fiscal year-end price.
FCX returns How much profit the business earns on the capital it uses.
FCX per-share figures Results divided by the shares outstanding at year-end.
FCX financial health Debt, liquidity and how easily interest is covered.
FCX efficiency & capital use Working capital cycle and where the cash goes.
FCX valuation history
FCX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FCX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FCX cash returned to shareholders
FCX price vs earnings per share
FCX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $73.29B | $55.03B | $61.43B | $55.14B | $61.84B | $38.02B | $19.04B | $15.03B | $27.57B | $17.38B |
| Enterprise value | $80.74B | $60.84B | $65.66B | $57.94B | $63.54B | $44.30B | $27.09B | $21.96B | $36.16B | $29.17B |
| P/E ratio | 33.3 | 29.2 | 33.3 | 15.9 | 14.4 | 63.8 | — | 5.8 | 15.7 | — |
| Price / sales | 2.8 | 2.2 | 2.7 | 2.4 | 2.8 | 2.7 | 1.3 | 0.8 | 1.7 | 1.2 |
| Price / book | 3.9 | 3.1 | 3.7 | 3.5 | 4.4 | 3.7 | 2.0 | 1.6 | 3.5 | 2.9 |
| Price / free cash flow | 65.7 | 23.4 | 135.0 | 33.0 | 11.0 | 36.0 | — | 8.4 | 8.4 | 19.0 |
| Price / operating cash flow | 13.1 | 7.7 | 11.6 | 10.7 | 8.0 | 12.6 | 12.8 | 3.9 | 5.9 | 4.7 |
| EV / sales | 3.1 | 2.4 | 2.9 | 2.5 | 2.8 | 3.2 | 1.9 | 1.2 | 2.3 | 2.0 |
| EV / EBITDA | 9.2 | 6.4 | 7.6 | 6.2 | 6.2 | 11.3 | 12.0 | 3.5 | 6.9 | — |
| EV / free cash flow | 72.3 | 25.9 | 144.3 | 34.7 | 11.3 | 41.9 | — | 12.2 | 11.1 | 31.8 |
| Earnings yield | 3.0% | 3.4% | 3.0% | 6.3% | 7.0% | 1.6% | −1.3% | 17.4% | 6.4% | −22.8% |
| Free cash flow yield | 1.5% | 4.3% | 0.7% | 3.0% | 9.1% | 2.8% | −6.1% | 11.9% | 11.9% | 5.3% |
| Dividend yield | 1.2% | 1.6% | 1.4% | 1.6% | 0.5% | 0.2% | 1.5% | 1.5% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 1.3% | 1.7% | 1.5% | 4.0% | 1.3% | 0.2% | 1.5% | 1.5% | 0.0% | 0.0% |
| Share price at fiscal year-end | $50.79 | $38.08 | $42.57 | $38.00 | $41.73 | $26.02 | $13.12 | $10.31 | $18.96 | $13.19 |
| Per share | ||||||||||
| Revenue per share | $17.84 | $17.62 | $15.74 | $16.08 | $15.09 | $9.49 | $9.89 | $13.01 | $10.91 | $11.08 |
| Earnings per share | $1.53 | $1.30 | $1.28 | $2.39 | $2.90 | $0.41 | −$0.17 | $1.79 | $1.21 | −$3.00 |
| Operating cash flow per share | $3.89 | $4.96 | $3.66 | $3.54 | $5.21 | $2.07 | $1.02 | $2.65 | $3.22 | $2.83 |
| Free cash flow per share | $0.77 | $1.63 | $0.32 | $1.15 | $3.78 | $0.72 | −$0.81 | $1.23 | $2.25 | $0.69 |
| Cash per share | $2.81 | $2.71 | $4.13 | $5.61 | $5.44 | $2.50 | $1.39 | $2.89 | $3.11 | $3.22 |
| Book value per share | $13.10 | $12.17 | $11.57 | $10.72 | $9.43 | $6.96 | $6.41 | $6.59 | $5.49 | $4.59 |
| Tangible book value per share | $12.80 | $11.87 | $11.28 | $10.43 | $9.16 | $6.41 | $5.85 | $6.04 | $5.07 | $4.13 |
| Dividends per share | $0.60 | $0.60 | $0.60 | $0.60 | $0.22 | $0.05 | $0.20 | $0.15 | $0.00 | $0.00 |
| Capex per share | $3.11 | $3.33 | $3.34 | $2.39 | $1.43 | $1.34 | $1.83 | $1.42 | $0.97 | $2.13 |
| Debt per share | $7.97 | $6.74 | $7.07 | $7.55 | $6.59 | $6.80 | $6.94 | $7.64 | $9.02 | $12.16 |
| Shares outstanding | 1.44B | 1.45B | 1.44B | 1.45B | 1.48B | 1.46B | 1.45B | 1.46B | 1.45B | 1.32B |
| Change in shares outstanding | −0.1% | +0.1% | −0.6% | −2.1% | +1.4% | +0.7% | −0.5% | +0.3% | +10.3% | +21.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 12.1% | 11.0% | 11.4% | 23.4% | 35.6% | 6.1% | −2.6% | 29.7% | 25.0% | −57.1% |
| Return on invested capital (ROIC) | 16.5% | 19.7% | 19.3% | 29.5% | 34.0% | 5.6% | 2.0% | 23.5% | 13.7% | 2.5% |
| Return on assets (ROA) | 3.9% | 3.5% | 3.6% | 7.0% | 9.5% | 1.4% | −0.6% | 6.5% | 4.7% | −9.4% |
| Return on tangible assets | 3.8% | 3.5% | 3.5% | 6.8% | 9.0% | 1.4% | −0.6% | 6.2% | 4.8% | −10.8% |
| Free cash flow margin | 4.3% | 9.2% | 2.0% | 7.2% | 25.0% | 7.6% | −8.1% | 9.5% | 20.6% | 6.3% |
| Income quality (OCF / net income) | 2.55 | 3.80 | 2.87 | 1.48 | 1.79 | 5.06 | — | 1.48 | 2.67 | — |
| Financial health | ||||||||||
| Total debt | $11.50B | $9.74B | $10.20B | $10.95B | $9.77B | $9.94B | $10.07B | $11.14B | $13.12B | $16.03B |
| Cash & short-term investments | $4.05B | $3.92B | $5.97B | $8.15B | $8.07B | $3.66B | $2.02B | $4.22B | $4.53B | $4.25B |
| Net debt | $7.45B | $5.82B | $4.23B | $2.81B | $1.70B | $6.28B | $8.05B | $6.92B | $8.59B | $11.78B |
| Debt / equity | 0.61 | 0.55 | 0.61 | 0.70 | 0.70 | 0.98 | 1.08 | 1.16 | 1.64 | 2.65 |
| Debt / assets | 0.20 | 0.18 | 0.19 | 0.21 | 0.20 | 0.24 | 0.25 | 0.26 | 0.35 | 0.43 |
| Net debt / EBITDA | 0.85 | 0.61 | 0.49 | 0.30 | 0.17 | 1.60 | 3.58 | 1.11 | 1.63 | — |
| Current ratio | 2.29 | 2.42 | 2.42 | 2.46 | 2.52 | 2.72 | 2.43 | 3.23 | 2.14 | 2.45 |
| Quick ratio | 1.05 | 1.18 | 1.38 | 1.64 | 1.75 | 1.58 | 1.20 | 1.80 | 1.37 | 1.59 |
| Interest coverage | 17.0 | 21.5 | 11.8 | 13.5 | 13.0 | 3.2 | 1.3 | 9.1 | 5.2 | 1.0 |
| Working capital | $7.77B | $7.80B | $8.25B | $9.27B | $8.94B | $5.89B | $4.59B | $7.40B | $5.74B | $6.17B |
| Invested capital | $26.35B | $23.40B | $20.93B | $18.36B | $15.68B | $16.46B | $17.35B | $16.53B | $16.57B | $17.83B |
| Tangible asset value | $30.33B | $28.35B | $26.89B | $24.45B | $22.61B | $17.87B | $16.64B | $16.70B | $10.68B | $8.65B |
| Net current asset value | −$13.61B | −$12.77B | −$11.13B | −$10.61B | −$10.17B | −$14.17B | −$15.56B | −$14.47B | −$15.23B | −$17.62B |
| Graham number | $21.22 | $18.89 | $18.23 | $23.99 | $24.81 | $7.99 | — | $16.30 | $12.21 | — |
| Graham net-net per share | −$12.71 | −$12.38 | −$10.36 | −$9.74 | −$9.03 | −$11.51 | −$12.74 | −$12.08 | −$12.58 | −$16.00 |
| Capital allocation | ||||||||||
| Dividends paid | $865.0M | $865.0M | $863.0M | $866.0M | $331.0M | $73.0M | $291.0M | $218.0M | $2.0M | $6.0M |
| Share buybacks (net) | $107.0M | $59.0M | $50.0M | $1.35B | $488.0M | $0 | $0 | $0 | $0 | $0 |
| Dividend payout ratio | 39.2% | 45.9% | 46.9% | 25.0% | 7.7% | 12.2% | — | 8.3% | 0.1% | — |
| Dividends + buybacks / free cash flow | 87.1% | 39.3% | 200.7% | 132.5% | 14.6% | 6.9% | — | 12.1% | 0.1% | 0.7% |
| Capex / revenue | 17.5% | 18.9% | 21.2% | 14.9% | 9.5% | 14.1% | 18.5% | 10.9% | 8.9% | 19.3% |
| Capex / operating cash flow | 80.1% | 67.2% | 91.4% | 67.5% | 27.4% | 65.0% | 178.9% | 53.5% | 30.1% | 75.4% |
| Capex / depreciation | 2.00 | 2.15 | 2.33 | 1.72 | 1.10 | 1.60 | 2.27 | 1.18 | 0.82 | 1.08 |
| Stock-based compensation / revenue | 0.5% | 0.4% | 0.5% | 0.4% | 0.4% | 0.7% | 0.4% | 0.4% | 0.4% | 0.6% |
| R&D / revenue | — | — | — | — | — | — | — | — | 0.6% | 0.4% |
| SG&A / revenue | 2.1% | 2.0% | 2.1% | 1.8% | 1.7% | 2.7% | 2.9% | 2.3% | 3.1% | 4.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 20.0 | 20.1 | 27.8 | 27.7 | 25.7 | 33.9 | 31.6 | 28.7 | 33.1 | 23.8 |
| Days of inventory on hand | 138.9 | 130.8 | 129.6 | 115.9 | 108.8 | 125.0 | 120.8 | 119.4 | 116.9 | 115.5 |
| Days payables outstanding | 55.7 | 53.4 | 59.6 | 56.7 | 45.5 | 49.8 | 45.9 | 44.3 | 47.9 | 52.0 |
| Cash conversion cycle (days) | 103.2 | 97.5 | 97.8 | 86.8 | 89.1 | 109.1 | 106.5 | 103.9 | 102.2 | 87.4 |
| Receivables turnover | 18.24 | 18.14 | 13.13 | 13.19 | 14.18 | 10.76 | 11.54 | 12.70 | 11.01 | 15.33 |
| Payables turnover | 6.55 | 6.83 | 6.13 | 6.44 | 8.02 | 7.33 | 7.94 | 8.25 | 7.62 | 7.03 |
| Inventory turnover | 2.63 | 2.79 | 2.82 | 3.15 | 3.35 | 2.92 | 3.02 | 3.06 | 3.12 | 3.16 |
| Asset turnover | 0.46 | 0.47 | 0.44 | 0.47 | 0.50 | 0.33 | 0.34 | 0.47 | 0.43 | 0.35 |
| Average receivables | $1.41B | $1.40B | $1.73B | $1.77B | $1.58B | $1.29B | $1.24B | $1.49B | $1.44B | $952.0M |
| Average payables | $2.87B | $2.63B | $2.58B | $2.37B | $1.75B | $1.56B | $1.66B | $1.60B | $1.54B | $1.90B |
| Average inventory | $7.15B | $6.43B | $5.62B | $4.84B | $4.20B | $3.93B | $4.36B | $4.33B | $3.77B | $4.21B |
| Intangibles / total assets | 0.7% | 0.8% | 0.8% | 0.8% | 0.9% | 1.9% | 2.0% | 1.9% | 1.6% | 1.6% |
Computed from FCX's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
FCX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Freeport-McMoRan traded at 33.3 times earnings, against a 10-year median of 22.6. Based on the latest twelve months, the trailing P/E is 34.3 and the forward P/E is 18.1. Freeport-McMoRan earned a return on equity of 12.1% and a return on invested capital of 16.5% in fiscal 2025. It ended the year with $11.5 billion of debt and $4.1 billion in cash and short-term investments, net debt of $7.4 billion. It returned $972.0 million to shareholders: $865.0 million in dividends and $107.0 million in share buybacks, 87% of free cash flow. The share count rose 9.5% from 1.32B to 1.44B over 9 years.
See the FCX income statement, the FCX chart for price history, or the FCX stock overview for the latest quote and news.
FCX key metrics FAQ
What is Freeport-McMoRan's P/E ratio?
Freeport-McMoRan's trailing P/E ratio is 34.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.1. At the end of fiscal 2025 it was 33.3, compared with a 10-year median of 22.6.
What is Freeport-McMoRan's EV/EBITDA?
Freeport-McMoRan's enterprise value was 9.2 times EBITDA at the end of fiscal 2025 (enterprise value $80.7 billion, EBITDA $8.8 billion); the current EV/EBITDA is 12.0.
What is Freeport-McMoRan's return on equity?
Freeport-McMoRan's return on equity (ROE) was 12.1% in fiscal 2025: net income of $2.2 billion on average shareholders' equity of $18.2 billion.
What is Freeport-McMoRan's ROIC?
Freeport-McMoRan's return on invested capital was 16.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Freeport-McMoRan have?
Freeport-McMoRan had total debt of $11.5 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.61 and $7.4 billion of net debt (0.85 times EBITDA).
What is Freeport-McMoRan's dividend yield?
Freeport-McMoRan's forward dividend yield is 0.86%. Freeport-McMoRan paid $865.0 million in dividends in fiscal 2025 ($0.60 per share), a payout ratio of 39.2%.
Does Freeport-McMoRan buy back its shares?
Yes. Freeport-McMoRan spent $107.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.1% over the year, to 1.44B..
What is Freeport-McMoRan's free cash flow yield?
Freeport-McMoRan generated $1.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 1.5% on its market value at year-end ($73.3 billion).
What is Freeport-McMoRan's current ratio?
Freeport-McMoRan's current ratio was 2.29 at the end of fiscal 2025: current assets were 2.29 times current liabilities.