Stock Analysis on Net
Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Profitability Ratios
Quarterly Data

Microsoft Excel

Profitability ratios measure the company ability to generate profitable sales from its resources (assets).

Profitability Ratios (Summary)

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

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Return on Sales
Gross profit margin 31.95% 31.68% 30.34% 31.33% 30.56% 28.81% 30.38% 33.76% 36.22% 40.49% 41.20% 38.59% 36.85% 33.01% 27.67% 17.91% 11.94% 5.94% 3.86% 9.01% — — —
Operating profit margin 28.64% 27.95% 26.31% 27.24% 26.57% 25.14% 27.03% 30.89% 33.69% 38.37% 39.20% 36.62% 36.69% 32.66% 27.34% 17.16% 11.04% 4.53% 2.22% 7.58% — — —
Net profit margin 7.81% 7.83% 6.97% 8.09% 9.50% 9.63% 12.07% 15.22% 16.72% 20.08% 20.79% 18.85% 18.45% 14.98% 11.13% 4.22% -0.73% -4.92% -5.68% -1.66% — — —
Return on Investment
Return on equity (ROE) 11.41% 11.10% 9.77% 11.07% 13.11% 13.00% 16.22% 22.30% 25.93% 32.72% 34.41% 30.80% 29.27% 23.63% 16.56% 5.89% -1.08% -7.10% -8.59% -2.57% — — —
Return on assets (ROA) 3.62% 3.53% 3.06% 3.52% 4.18% 4.14% 5.12% 6.79% 7.77% 9.72% 10.47% 8.97% 8.33% 6.25% 4.14% 1.42% -0.24% -1.58% -1.89% -0.59% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Freeport-McMoRan Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Freeport-McMoRan Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Freeport-McMoRan Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.
Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Freeport-McMoRan Inc. ROE improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
ROA A profitability ratio calculated as net income divided by total assets. Freeport-McMoRan Inc. ROA improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Gross Profit Margin

Freeport-McMoRan Inc., gross profit margin calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Gross profit (loss) 2,113 2,240 1,882 1,956 1,738 1,641 1,825 1,735 1,104 1,888 2,964 2,441 2,532 2,198 1,644 1,429 983 441 (310) 511 125 192 469
Revenues 6,790 6,624 6,321 5,905 5,824 5,737 5,389 5,758 5,003 5,416 6,603 6,164 6,083 5,748 4,850 4,495 3,851 3,054 2,798 3,911 3,153 3,546 3,792
Profitability Ratio
Gross profit margin1 31.95% 31.68% 30.34% 31.33% 30.56% 28.81% 30.38% 33.76% 36.22% 40.49% 41.20% 38.59% 36.85% 33.01% 27.67% 17.91% 11.94% 5.94% 3.86% 9.01% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Gross profit margin = 100 × (Gross profit (loss)Q3 2024 + Gross profit (loss)Q2 2024 + Gross profit (loss)Q1 2024 + Gross profit (loss)Q4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (2,113 + 2,240 + 1,882 + 1,956) ÷ (6,790 + 6,624 + 6,321 + 5,905) = 31.95%

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Freeport-McMoRan Inc. gross profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Operating Profit Margin

Freeport-McMoRan Inc., operating profit margin calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Operating income (loss) 1,938 2,049 1,634 1,722 1,492 1,410 1,601 1,530 962 1,736 2,809 2,305 2,462 2,067 1,532 1,709 880 321 (473) 775 (38) 33 321
Revenues 6,790 6,624 6,321 5,905 5,824 5,737 5,389 5,758 5,003 5,416 6,603 6,164 6,083 5,748 4,850 4,495 3,851 3,054 2,798 3,911 3,153 3,546 3,792
Profitability Ratio
Operating profit margin1 28.64% 27.95% 26.31% 27.24% 26.57% 25.14% 27.03% 30.89% 33.69% 38.37% 39.20% 36.62% 36.69% 32.66% 27.34% 17.16% 11.04% 4.53% 2.22% 7.58% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Operating profit margin = 100 × (Operating income (loss)Q3 2024 + Operating income (loss)Q2 2024 + Operating income (loss)Q1 2024 + Operating income (loss)Q4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (1,938 + 2,049 + 1,634 + 1,722) ÷ (6,790 + 6,624 + 6,321 + 5,905) = 28.64%

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Freeport-McMoRan Inc. operating profit margin ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Net Profit Margin

Freeport-McMoRan Inc., net profit margin calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders 526 616 473 388 454 343 663 697 404 840 1,527 1,106 1,399 1,083 718 708 329 53 (491) 9 (207) (72) 31
Revenues 6,790 6,624 6,321 5,905 5,824 5,737 5,389 5,758 5,003 5,416 6,603 6,164 6,083 5,748 4,850 4,495 3,851 3,054 2,798 3,911 3,153 3,546 3,792
Profitability Ratio
Net profit margin1 7.81% 7.83% 6.97% 8.09% 9.50% 9.63% 12.07% 15.22% 16.72% 20.08% 20.79% 18.85% 18.45% 14.98% 11.13% 4.22% -0.73% -4.92% -5.68% -1.66% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
Net profit margin = 100 × (Net income (loss) attributable to common stockholdersQ3 2024 + Net income (loss) attributable to common stockholdersQ2 2024 + Net income (loss) attributable to common stockholdersQ1 2024 + Net income (loss) attributable to common stockholdersQ4 2023) ÷ (RevenuesQ3 2024 + RevenuesQ2 2024 + RevenuesQ1 2024 + RevenuesQ4 2023)
= 100 × (526 + 616 + 473 + 388) ÷ (6,790 + 6,624 + 6,321 + 5,905) = 7.81%

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Freeport-McMoRan Inc. net profit margin ratio improved from Q1 2024 to Q2 2024 but then slightly deteriorated from Q2 2024 to Q3 2024.

Return on Equity (ROE)

Freeport-McMoRan Inc., ROE calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders 526 616 473 388 454 343 663 697 404 840 1,527 1,106 1,399 1,083 718 708 329 53 (491) 9 (207) (72) 31
Stockholders’ equity 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 9,298 9,444 9,709 9,783
Profitability Ratio
ROE1 11.41% 11.10% 9.77% 11.07% 13.11% 13.00% 16.22% 22.30% 25.93% 32.72% 34.41% 30.80% 29.27% 23.63% 16.56% 5.89% -1.08% -7.10% -8.59% -2.57% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROE = 100 × (Net income (loss) attributable to common stockholdersQ3 2024 + Net income (loss) attributable to common stockholdersQ2 2024 + Net income (loss) attributable to common stockholdersQ1 2024 + Net income (loss) attributable to common stockholdersQ4 2023) ÷ Stockholders’ equity
= 100 × (526 + 616 + 473 + 388) ÷ 17,548 = 11.41%

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Freeport-McMoRan Inc. ROE improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Return on Assets (ROA)

Freeport-McMoRan Inc., ROA calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stockholders 526 616 473 388 454 343 663 697 404 840 1,527 1,106 1,399 1,083 718 708 329 53 (491) 9 (207) (72) 31
Total assets 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 40,809 40,943 41,086 41,059
Profitability Ratio
ROA1 3.62% 3.53% 3.06% 3.52% 4.18% 4.14% 5.12% 6.79% 7.77% 9.72% 10.47% 8.97% 8.33% 6.25% 4.14% 1.42% -0.24% -1.58% -1.89% -0.59% — — —

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

1 Q3 2024 Calculation
ROA = 100 × (Net income (loss) attributable to common stockholdersQ3 2024 + Net income (loss) attributable to common stockholdersQ2 2024 + Net income (loss) attributable to common stockholdersQ1 2024 + Net income (loss) attributable to common stockholdersQ4 2023) ÷ Total assets
= 100 × (526 + 616 + 473 + 388) ÷ 55,400 = 3.62%

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Freeport-McMoRan Inc. ROA improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.