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Freeport-McMoRan
FCXMaterialsGenerated Jul 5, 2026, 08:09 PM UTC
FCX (Freeport-McMoRan) analytical snapshot. Revenue grew +0.3% YoY to $22.86B. Net margin at 0.00% (contracting ▼). Return on equity 0.00%, ROA 0.00%, ROIC 23.46%. Market cap $87.65B at $60.97 per share. EV/Operating income ≈ 14.99 (EV $93.33B). FCF DCF intrinsic value ≈ $5.44 → implied downside +91.1%. Risk: Low. Macro: Risk-on · Supportive. Composite analytical score -20 (data confidence 80%). Descriptive analytics from public filings — not investment advice.
Market cap
$87.65B
1.44B shares
Price
$60.97
NYQ
P/E (ttm)
—
Revenue (FY)
$22.86B
YoY +0.3%
Net margin
0.00%
▼ 0.00pp
Free cash flow
$455.0M
1.99% margin
Risk level
Low
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 0Stable
80% conf
Revenue grew +0.3% YoY to $22.86B. Net margin at 0.00% (contracting ▼). Return on equity 0.00%, ROA 0.00%, ROIC 23.46%.
- Revenue grew +0.3% YoY to $22.86B.
- Net margin at 0.00% (contracting ▼).
- Return on equity 0.00%, ROA 0.00%, ROIC 23.46%.
- Gross margin 0.00%, operating margin 27.24%.
- Free cash flow margin 1.99% ($455.0M).
- Debt/equity 0.48, current ratio 2.39, net debt $5.68B.
- Asset turnover 0.39 — capital efficiency.
Revenue (FY)
$22.86B
YoY +0.3%
Net margin
0.00%
▼ 0.00pp
ROE
0.00%
ROA 0.00%
ROIC
23.46%
EPS (diluted)
$-0.17
FY2021
Free cash flow
$455.0M
1.99% margin
Debt / equity
0.48
Cash $3.74B
Current ratio
2.39
Equity $19.50B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2015 | — | — | — | — | — | $853.0M | 0.00 |
| 2016 | $20.00B | — | 0.00 | -1.49 | 0.00 | -$1.58B | 0.00 |
| 2017 | $14.61B | -27.0% | 0.00 | -92.50 | 0.00 | -$3.13B | 0.00 |
| 2018 | $14.83B | +1.5% | 0.00 | -18.40 | 0.00 | $924.0M | 0.00 |
| 2019 | $16.40B | +10.6% | 0.00 | 22.50 | 0.00 | $3.26B | 0.00 |
| 2020 | $18.63B | +13.6% | 0.00 | 25.52 | 0.00 | $1.89B | 0.00 |
| 2021 | $14.40B | -22.7% | 0.00 | 7.58 | 0.00 | -$1.17B | 0.00 |
| 2022 | $14.20B | -1.4% | 0.00 | 17.16 | 0.00 | $1.06B | 0.00 |
| 2023 | $22.78B | +60.4% | 0.00 | 30.89 | 0.00 | $1.67B | 0.00 |
| 2025 | $22.86B | +0.3% | 0.00 | 27.24 | 0.00 | $455.0M | 0.00 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $5.73B | -9.4% | — | — |
| Jun 30, 2025 | $13.31B | +2.8% | +132.4% | — |
| Jun 30, 2025 | $7.58B | -41.4% | -43.0% | — |
| Sep 30, 2025 | $20.28B | +2.8% | +167.5% | — |
| Sep 30, 2025 | $6.97B | -64.7% | -65.6% | — |
| Mar 31, 2026 | $6.23B | +8.8% | -10.6% | — |
Revenue (annual, SEC 10-K)
2015: 0
2016: 20,001
2017: 14,607
2018: 14,830
2019: 16,403
2020: 18,628
2021: 14,402
2022: 14,198
2023: 22,780
2025: 22,855
2015
2016
2017
2018
2019
2020
2021
2022
2023
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2015: 853
2016: -1,584
2017: -3,133
2018: 924
2019: 3,256
2020: 1,892
2021: -1,170
2022: 1,056
2023: 1,670
2025: 455
2015
2016
2017
2018
2019
2020
2021
2022
2023
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 13, 2026. Latest quarterly report (10-Q) filed May 8, 2026. 20 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 13, 2026.
- Latest quarterly report (10-Q) filed May 8, 2026.
- 20 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Freeport-McMoRan; broad institutional reporting.
- Recent filers include CITADEL L P, Jump Trading, LLC, Titan Capital Group III, LP.
- 3 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 17 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 13, 2026
Annual report
Latest 10-Q
May 8, 2026
8-K (recent)
20
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
3
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| CITADEL L P | 13F-HR | Aug 1, 2008 |
| Jump Trading, LLC | 13F-HR | Nov 15, 2012 |
| Titan Capital Group III, LP | 13F-HR | Jan 20, 2010 |
| Vermillion Asset Management LLC | 13F-HR | Apr 26, 2013 |
| CANYON CAPITAL ADVISORS LLC | 13F-HR | May 15, 2003 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 10, 2026 | 8-K | 8-K |
| May 20, 2026 | 8-K | 8-K |
| Apr 23, 2026 | 8-K | 8-K |
| Mar 23, 2026 | 8-K | 8-K |
| Feb 24, 2026 | 8-K | 8-K |
| Jan 22, 2026 | 8-K | 8-K |
| Jan 16, 2026 | 8-K | 8-K |
| Nov 18, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -83Deteriorating
66% conf
5 risk signal(s), 2 watch item(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Free cash flow deteriorating: FCF declined +72.8% YoY (from $1.67B to $455.0M). With OCF at $5.28B and capex at $4.82B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Going concern doubt in latest filing: The term "going concern" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 6 filing(s).
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 1 filing(s).
- NEW: Restatement of financial statements in latest filing: The term "restate" "financial statements" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 48 filing(s).
- NEW: Impairment charge: Impairment charge appears in recent filings but not in the prior 24-month period. Monitor for materiality.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Endogenous analysis: The combination of explicit "going concern" language in the filing with deteriorating cash flow or rising leverage is a severe warning signal — the company's own auditors have flagged doubt about the ability to continue as a going concern.
- 2 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 5 new risk-language term(s) detected in filing text: Going concern doubt, Substantial doubt about ability to continue, Restatement of financial statements, Impairment charge, Off-balance sheet arrangements.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$22.86B
+0.3% YoY
Operating income
$6.22B
-11.5% YoY
Operating cash flow
$5.28B
+2.7% YoY
Capex
$4.82B
+39.1% YoY
Total assets
$52.51B
+2.8% YoY
Total liabilities
$26.07B
+3.5% YoY
Long-term debt
$8.95B
-5.0% YoY
Cash & equivalents
$3.92B
-17.5% YoY
Filing quality score
74/100
2 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $22.78B | $22.86B | $75.0M | +0.3% |
| Operating income | $7.04B | $6.22B | $-812.0M | -11.5% |
| Operating cash flow | $5.14B | $5.28B | $140.0M | +2.7% |
| Capex | $3.47B | $4.82B | $1.35B | +39.1% |
| Total assets | $51.09B | $52.51B | $1.41B | +2.8% |
| Total liabilities | $25.20B | $26.07B | $874.0M | +3.5% |
| Long-term debt | $9.42B | $8.95B | $-474.0M | -5.0% |
| Cash & equivalents | $4.76B | $3.92B | $-835.0M | -17.5% |
| Stockholders equity | $16.69B | $17.58B | $888.0M | +5.3% |
| Inventory | — | $5.02B | — | — |
| Accounts receivable | $1.21B | $578.0M | $-631.0M | -52.2% |
| SG&A expense | $420.0M | $479.0M | $59.0M | +14.0% |
| Interest expense | — | $586.0M | — | — |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount, InsuredEventGainLoss |
| Removed | AccountsPayableAndOtherAccruedLiabilitiesCurrent, AccountsPayableCurrent, AccrualForEnvironmentalLossContingencies, AccrualForEnvironmentalLossContingenciesGross, AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForAcquisitionsAndDivestitures, AccrualForEnvironmentalLossContingenciesIncreaseDecreaseForRevisionInEstimates, AccrualForEnvironmentalLossContingenciesPayments1, AccrualForEnvironmentalLossContingenciesUndiscountedDueAfterFifthYear, AccrualForEnvironmentalLossContingenciesUndiscountedDueInFifthYear, AccrualForEnvironmentalLossContingenciesUndiscountedDueInFourthYear |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 6 | 0 | NEW |
| Material weakness in internal controls | high | 19 | 2 | Ongoing |
| Substantial doubt about ability to continue | high | 1 | 0 | NEW |
| Restatement of financial statements | high | 48 | 0 | NEW |
| Impairment charge | medium | 17 | 0 | NEW |
| Restructuring | medium | 73 | 8 | Ongoing |
| Off-balance sheet arrangements | medium | 11 | 0 | NEW |
| Related party transactions | low | 17 | 0 | NEW |
Filing signal breakdown
Red flags: 5
Positive: 0
Watch: 2
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $87.65B at $60.97 per share.
- ProPrice & TechnicalsPrice $60.97 — uptrend (above 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Low.
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3 sections free · 4 Pro sections locked · composite -20
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Freeport-McMoRan is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewLatest annual report (10-K) filed Feb 13, 2026..
Risk
Low
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow FCX stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Microchip Technology MCHP | 3 | Supportive |
| Warner Bros Discovery WBD | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| MercadoLibre Inc. MELI | -1 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| Applied Materials Inc. AMAT | -2 | Supportive |
| IBM Corp. IBM | -3 | Supportive |
| Spotify Technology SPOT | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| Workday Inc. WDAY | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX | -8 | Supportive |
| Albemarle Corp. ALB | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Yum Brands Inc. YUM | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Chipotle Mexican Grill CMG | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Union Pacific Corp. UNP | -12 | Supportive |
| Norfolk Southern NSC | -13 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Royal Caribbean Group RCL | -15 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| CSX Corp. CSX | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| Dow Inc. DOW | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX● you | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Eaton Corp. ETN | -22 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -22 | Supportive |
| 3M Co. MMM | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Texas Instruments TXN | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Marvell Technology MRVL | -29 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| Verizon Communications VZ | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Newmont Corp. NEM | -34 | Supportive |
| Autodesk Inc. ADSK | -34 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |