Stock Analysis on Net
Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Solvency Ratios
Quarterly Data

Microsoft Excel

Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.

Solvency Ratios (Summary)

Freeport-McMoRan Inc., solvency ratios (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Debt Ratios
Debt to equity 0.51 0.55 0.54 0.56 0.56 0.57 0.59 0.60 0.68 0.71 0.74 0.65 0.68 0.72 0.81 0.90 0.95 1.09 1.11 1.14
Debt to capital 0.34 0.36 0.35 0.36 0.36 0.36 0.37 0.38 0.41 0.42 0.43 0.39 0.40 0.42 0.45 0.47 0.49 0.52 0.53 0.53
Debt to assets 0.16 0.17 0.17 0.17 0.18 0.18 0.19 0.19 0.21 0.21 0.22 0.20 0.20 0.21 0.21 0.22 0.23 0.24 0.25 0.25
Financial leverage 3.12 3.16 3.14 3.19 3.15 3.14 3.14 3.17 3.28 3.34 3.37 3.28 3.44 3.51 3.78 4.00 4.14 4.45 4.49 4.54
Coverage Ratios
Interest coverage 22.70 22.42 19.68 14.57 12.69 11.49 9.73 10.53 13.05 13.11 15.65 16.40 13.73 11.72 9.52 7.19 4.03 — — —

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Freeport-McMoRan Inc. debt to equity ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Freeport-McMoRan Inc. debt to capital ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Freeport-McMoRan Inc. debt to assets ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Freeport-McMoRan Inc. financial leverage ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Freeport-McMoRan Inc. interest coverage ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Debt to Equity

Freeport-McMoRan Inc., debt to equity calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 41 769 768 769 766 35 37 49 1,037 1,032 1,038 1,365 372 897 1,057 656 34 47 90 245
Long-term debt, less current portion 8,907 8,910 8,658 8,656 8,656 9,370 9,458 9,586 9,583 9,658 10,054 8,256 9,078 8,768 8,638 9,153 9,677 9,983 9,824 9,829
Total debt 8,948 9,679 9,426 9,425 9,422 9,405 9,495 9,635 10,620 10,690 11,092 9,621 9,450 9,665 9,695 9,809 9,711 10,030 9,914 10,074
 
Stockholders’ equity 17,581 17,548 17,404 16,973 16,693 16,459 16,202 16,057 15,555 14,954 14,889 14,866 13,980 13,353 12,011 10,920 10,174 9,236 8,954 8,855
Solvency Ratio
Debt to equity1 0.51 0.55 0.54 0.56 0.56 0.57 0.59 0.60 0.68 0.71 0.74 0.65 0.68 0.72 0.81 0.90 0.95 1.09 1.11 1.14

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 8,948 ÷ 17,581 = 0.51

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Freeport-McMoRan Inc. debt to equity ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Debt to Capital

Freeport-McMoRan Inc., debt to capital calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 41 769 768 769 766 35 37 49 1,037 1,032 1,038 1,365 372 897 1,057 656 34 47 90 245
Long-term debt, less current portion 8,907 8,910 8,658 8,656 8,656 9,370 9,458 9,586 9,583 9,658 10,054 8,256 9,078 8,768 8,638 9,153 9,677 9,983 9,824 9,829
Total debt 8,948 9,679 9,426 9,425 9,422 9,405 9,495 9,635 10,620 10,690 11,092 9,621 9,450 9,665 9,695 9,809 9,711 10,030 9,914 10,074
Stockholders’ equity 17,581 17,548 17,404 16,973 16,693 16,459 16,202 16,057 15,555 14,954 14,889 14,866 13,980 13,353 12,011 10,920 10,174 9,236 8,954 8,855
Total capital 26,529 27,227 26,830 26,398 26,115 25,864 25,697 25,692 26,175 25,644 25,981 24,487 23,430 23,018 21,706 20,729 19,885 19,266 18,868 18,929
Solvency Ratio
Debt to capital1 0.34 0.36 0.35 0.36 0.36 0.36 0.37 0.38 0.41 0.42 0.43 0.39 0.40 0.42 0.45 0.47 0.49 0.52 0.53 0.53

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 8,948 ÷ 26,529 = 0.34

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Freeport-McMoRan Inc. debt to capital ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Debt to Assets

Freeport-McMoRan Inc., debt to assets calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Current portion of debt 41 769 768 769 766 35 37 49 1,037 1,032 1,038 1,365 372 897 1,057 656 34 47 90 245
Long-term debt, less current portion 8,907 8,910 8,658 8,656 8,656 9,370 9,458 9,586 9,583 9,658 10,054 8,256 9,078 8,768 8,638 9,153 9,677 9,983 9,824 9,829
Total debt 8,948 9,679 9,426 9,425 9,422 9,405 9,495 9,635 10,620 10,690 11,092 9,621 9,450 9,665 9,695 9,809 9,711 10,030 9,914 10,074
 
Total assets 54,848 55,400 54,635 54,198 52,506 51,648 50,907 50,909 51,093 49,927 50,113 48,832 48,022 46,917 45,436 43,643 42,144 41,099 40,230 40,219
Solvency Ratio
Debt to assets1 0.16 0.17 0.17 0.17 0.18 0.18 0.19 0.19 0.21 0.21 0.22 0.20 0.20 0.21 0.21 0.22 0.23 0.24 0.25 0.25

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 8,948 ÷ 54,848 = 0.16

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Freeport-McMoRan Inc. debt to assets ratio deteriorated from Q2 2024 to Q3 2024 but then improved from Q3 2024 to Q4 2024 exceeding Q2 2024 level.

Financial Leverage

Freeport-McMoRan Inc., financial leverage calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Total assets 54,848 55,400 54,635 54,198 52,506 51,648 50,907 50,909 51,093 49,927 50,113 48,832 48,022 46,917 45,436 43,643 42,144 41,099 40,230 40,219
Stockholders’ equity 17,581 17,548 17,404 16,973 16,693 16,459 16,202 16,057 15,555 14,954 14,889 14,866 13,980 13,353 12,011 10,920 10,174 9,236 8,954 8,855
Solvency Ratio
Financial leverage1 3.12 3.16 3.14 3.19 3.15 3.14 3.14 3.17 3.28 3.34 3.37 3.28 3.44 3.51 3.78 4.00 4.14 4.45 4.49 4.54

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 54,848 ÷ 17,581 = 3.12

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Freeport-McMoRan Inc. financial leverage ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Interest Coverage

Freeport-McMoRan Inc., interest coverage calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders 274 526 616 473 388 454 343 663 697 404 840 1,527 1,106 1,399 1,083 718 708 329 53 (491)
Add: Net income attributable to noncontrolling interest 447 710 664 689 619 510 388 386 280 156 198 377 252 324 248 235 150 103 71 (58)
Add: Income tax expense 520 737 754 512 724 508 539 499 557 315 571 824 625 628 603 443 611 297 96 (60)
Add: Interest expense, net 70 72 88 89 97 96 171 151 137 140 156 127 171 138 148 145 236 120 115 127
Earnings before interest and tax (EBIT) 1,311 2,045 2,122 1,763 1,828 1,568 1,441 1,699 1,671 1,015 1,765 2,855 2,154 2,489 2,082 1,541 1,705 849 335 (482)
Solvency Ratio
Interest coverage1 22.70 22.42 19.68 14.57 12.69 11.49 9.73 10.53 13.05 13.11 15.65 16.40 13.73 11.72 9.52 7.19 4.03 — — —

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Interest coverage = (EBITQ4 2024 + EBITQ3 2024 + EBITQ2 2024 + EBITQ1 2024) ÷ (Interest expenseQ4 2024 + Interest expenseQ3 2024 + Interest expenseQ2 2024 + Interest expenseQ1 2024)
= (1,311 + 2,045 + 2,122 + 1,763) ÷ (70 + 72 + 88 + 89) = 22.70

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Freeport-McMoRan Inc. interest coverage ratio improved from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.