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

Freeport-McMoRan Inc., liquidity ratios

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Current ratio	2.42	2.42	2.46	2.52	2.72
Quick ratio	1.08	1.31	1.58	1.66	1.48
Cash ratio	0.88	1.03	1.30	1.37	1.07

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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 2022 to 2023 but then slightly improved from 2023 to 2024.
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 2022 to 2023 and from 2023 to 2024.
Cash ratio	A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities.	Freeport-McMoRan Inc. cash ratio deteriorated from 2022 to 2023 and from 2023 to 2024.

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

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Current assets	13,296)	14,065)	15,613)	14,830)	9,303)
Current liabilities	5,496)	5,815)	6,345)	5,892)	3,417)
Liquidity Ratio
Current ratio¹	2.42	2.42	2.46	2.52	2.72
Benchmarks
Current Ratio, Industry
Materials	1.18	1.14	1.20	1.19	1.14

¹ 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 13,296 ÷ 5,496 = 2.42

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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 2022 to 2023 but then slightly improved from 2023 to 2024.

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

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Cash and cash equivalents	3,923)	4,758)	8,146)	8,068)	3,657)
Restricted cash and cash equivalents	888)	1,208)	111)	—)	—)
Trade accounts receivable	578)	1,209)	1,336)	1,168)	892)
Value added and other tax receivables	564)	455)	459)	574)	520)
Total quick assets	5,953)	7,630)	10,052)	9,810)	5,069)

Current liabilities	5,496)	5,815)	6,345)	5,892)	3,417)
Liquidity Ratio
Quick ratio¹	1.08	1.31	1.58	1.66	1.48
Benchmarks
Quick Ratio, Industry
Materials	0.68	0.71	0.80	0.78	0.71

¹ 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 5,953 ÷ 5,496 = 1.08

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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 2022 to 2023 and from 2023 to 2024.

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

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Selected Financial Data (US$ in millions)
Cash and cash equivalents	3,923)	4,758)	8,146)	8,068)	3,657)
Restricted cash and cash equivalents	888)	1,208)	111)	—)	—)
Total cash assets	4,811)	5,966)	8,257)	8,068)	3,657)

Current liabilities	5,496)	5,815)	6,345)	5,892)	3,417)
Liquidity Ratio
Cash ratio¹	0.88	1.03	1.30	1.37	1.07
Benchmarks
Cash Ratio, Industry
Materials	0.37	0.39	0.48	0.44	0.35

¹ 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 4,811 ÷ 5,496 = 0.88

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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 2022 to 2023 and from 2023 to 2024.

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Liquidity Ratios