Freeport-McMoRan (FCX) 10-K Red Flags
Risk signals extracted deterministically from Freeport-McMoRan’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (16)
- 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.
- Market cap $87.65B at $60.97 per share.
- EV/Operating income ≈ 14.99 (EV $93.33B).
- 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).
Filings & ownership
- 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.
Full FCX analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
View full report →Not investment advice. FilingSight is an automated analytical research tool, not a registered investment advisor. Ratings and scores are quantitative analytical classifications, not buy or sell recommendations. Nothing here is personalized to your circumstances. Investing involves risk of loss — consult a licensed professional. See full disclosures.