Liquidity ratios measure the company ability to meet its short-term obligations.

Freeport-McMoRan Inc., liquidity ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Current ratio	2.42	2.46	2.52	2.72	2.47
Quick ratio	1.31	1.58	1.66	1.48	0.99
Cash ratio	1.03	1.30	1.37	1.07	0.63

Download chart

Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Freeport-McMoRan Inc. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Freeport-McMoRan Inc. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Freeport-McMoRan Inc. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc., current ratio calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Current assets	14,065)	15,613)	14,830)	9,303)	7,915)
Current liabilities	5,815)	6,345)	5,892)	3,417)	3,209)
Liquidity Ratio
Current ratio¹	2.42	2.46	2.52	2.72	2.47
Benchmarks
Current Ratio, Industry
Materials	1.14	1.20	1.19	1.14	1.15

¹ 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 14,065 ÷ 5,815 = 2.42

Download chart

Liquidity ratio	Description	The company
Current ratio	A liquidity ratio calculated as current assets divided by current liabilities.	Freeport-McMoRan Inc. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc., quick ratio calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	4,758)	8,146)	8,068)	3,657)	2,020)
Restricted cash and cash equivalents	1,208)	111)	—)	—)	—)
Trade accounts receivable	1,209)	1,336)	1,168)	892)	741)
Income and other tax receivables	455)	459)	574)	520)	426)
Total quick assets	7,630)	10,052)	9,810)	5,069)	3,187)

Current liabilities	5,815)	6,345)	5,892)	3,417)	3,209)
Liquidity Ratio
Quick ratio¹	1.31	1.58	1.66	1.48	0.99
Benchmarks
Quick Ratio, Industry
Materials	0.71	0.80	0.78	0.71	0.64

¹ 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,630 ÷ 5,815 = 1.31

Download chart

Liquidity ratio	Description	The company
Quick ratio	A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities.	Freeport-McMoRan Inc. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc., cash ratio calculation, comparison to benchmarks

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents	4,758)	8,146)	8,068)	3,657)	2,020)
Restricted cash and cash equivalents	1,208)	111)	—)	—)	—)
Total cash assets	5,966)	8,257)	8,068)	3,657)	2,020)

Current liabilities	5,815)	6,345)	5,892)	3,417)	3,209)
Liquidity Ratio
Cash ratio¹	1.03	1.30	1.37	1.07	0.63
Benchmarks
Cash Ratio, Industry
Materials	0.39	0.48	0.44	0.35	0.25

¹ 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 5,966 ÷ 5,815 = 1.03

Download chart

Liquidity ratio	Description	The company
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Freeport-McMoRan Inc. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Liquidity Ratios