Freeport-Mcmoran Inc Fair valueFair
$64 −1.1% to fair value
$32fair band $54–$77$96
Day's range
$64.16 – $66.60
52-week range
$38.54 – $80.24
About Freeport-Mcmoran Inc
Freeport-McMoRan is a mining company that produces copper, gold and molybdenum. Its operations include large mines in the United States, South America and Indonesia, where it extracts ore and processes it into concentrate and refined metal. Revenue comes from selling these metals at market-based prices, so earnings depend heavily on copper prices and on production volumes, costs and access to its mining sites.
Freeport-Mcmoran Inc generated $25.9 billion of revenue in the last twelve months, with sales that expanded at 3.7% a year across three years. Leverage, measured as net debt to EBITDA, is 0.6 times. The operating margin is 26.7% and the return on invested capital is 19%. The company pays a dividend with a yield of 0.9%. Its X-Ray Score is 55 out of 100.
FCX news
Copper Slips as Rising Inventories Ease Supply ConcernsCopper premium set at record as supply and demand reports diverge
All FCX news →Price chart
52-wk range $38.54 – $80.24Volume 13,545,674Daily, split-adjusted
Vitals
Market cap$93.2B
52-week range$38.54 – $80.24
Volume (last day)13,545,674
P/E (TTM)41.7
EBIT / EV yield6.3%
Free-cash-flow yield–
Dividend yield0.9%
Revenue (TTM)$25.9B
Net income (TTM)$2.2B
Operating margin26.7%
Return on capital19.1%
Debt incl. leases$9.4B
Cash & securities$4.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$64middle half of models $57 – $71
Fair
−1.1% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $65
Undervalued < $54Fair $54 – $77Overvalued > $77
P/E multiple
$61
P/B multiple
$57
P/S multiple
$62
EV/EBITDA multiple
$73
EV/EBIT multiple
$54
EV/revenue multiple
$57
10-year DCF, EBITDA exit
$72
5-year DCF, EBITDA exit
$68
10-year DCF, revenue exit
$71
5-year DCF, revenue exit
$67
10-year DCF, growth exit
$61
5-year DCF, growth exit
$54
Dividend discount, stable · not used
$17
Dividend discount, multi-stage · not used
$22
Earnings power value
$72
Growth the price implies
19.2%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Materials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
59/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield6.3%
Fair value vs price1.0×
Growth
Weak
40/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)3.7%
Growth consistency60%
Profitability
Fair
67/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital19.1%
Operating margin26.7%
Gross profitability11.8%
Financial health
Fair
62/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA0.6×
Interest coverNo interest cost
Dividends
Weak
33/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield0.9%
Dividend growth0.0%
Quarterly results: last 6 quarters
-9.4%
Mar '25
+14.5%
Jun '25
+2.7%
Sep '25
-1.5%
Dec '25
+9.2%
Mar '26
-7.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $7.0B, diluted EPS $0.68.
SWOT analysis: Freeport-Mcmoran Inc
Strengthsinside the company
- Return on invested capital is 19.1%, against a median of 9.9% for sector peers.
- Operating margin of 26.7% is well above the 11.3% median of sector peers, a sign of pricing power or lower costs.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Trades at 41.7x earnings, 98% above the 21.0x median of sector peers, so the price already assumes better results.
- Earnings in Copper follow the industry cycle, so margins and profits can swing from year to year.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare FCX with peers and sector
Medians of 22 Materials peers and of 22 Materials stocks in our universe.
Largest peers (X-Ray Score): LIN 43, NEM 81, SHW 54, ECL 50, APD 25, NUE 48.
| Metric | FCX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 55 | 51 | 51 |
| Valuation | 59 | 43 | 43 |
| Growth | 40 | 57 | 57 |
| Profitability | 67 | 49 | 49 |
| Financial health | 62 | 48 | 48 |
| Dividends | 33 | 56 | 56 |
Sector leaders: highest X-Ray Score in Materials
FCX ranks #9 of 23 in Materials by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for FCX
Each factor is rated by where FCX stands among the 23 Materials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 10 Good · 5 Average · 5 Bad of 20
Growth: 1 · 0 · 1
Profitability: 2 · 3 · 0
Financial strength: 3 · 1 · 0
Valuation: 0 · 1 · 3
Cash flow: 3 · 0 · 1
Efficiency: 1 · 0 · 0
| Factor | FCX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +3.7% | Good beats 72% | +0.6% | – | – |
| Revenue growth, last year | +1.8% | Bad beats 28% | +5.3% | +1.9% | ≈ In line |
| Profitability | |||||
| Gross margin | 27.1% | Average beats 43% | 27.9% | 31.3% | ▼ Worse |
| Operating margin | 26.7% | Good beats 89% | 11.8% | 27.2% | ≈ In line |
| Net margin | 8.6% | Average beats 59% | 7.8% | 8.5% | ≈ In line |
| Return on invested capital | 19.1% | Good beats 85% | 10.0% | – | – |
| Return on equity | 11.1% | Average beats 37% | 14.8% | 11.7% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 0.6x | Good beats 80% | 2.4x | 0.6x | ≈ In line |
| Interest cover | 50.0x | Good beats 91% | 7.8x | – | – |
| Current ratio | 2.07 | Good beats 67% | 1.61 | 2.42 | ▼ Worse |
| Piotroski F-score | 6 / 9 | Average beats 46% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 41.7x | Bad beats 18% | 21.6x | 29.1x | ▼ Worse |
| Price / book | 4.6x | Bad beats 28% | 3.1x | 3.7x | ▼ Worse |
| Price / sales | 3.6x | Bad beats 28% | 2.1x | 2.7x | ▼ Worse |
| EV / EBITDA | 12.2x | Average beats 63% | 14.2x | 6.6x | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 22.8% | Good beats 89% | 7.7% | 7.2% | ▲ Better |
| Cash from operations / net income | 2.64 | Good beats 82% | 1.50 | 2.55 | ≈ In line |
| Free cash flow growth, 3 years a year | −12.6% | Bad beats 16% | +11.3% | – | – |
| Accruals (lower is better) | −6.1% | Good beats 70% | −4.2% | – | – |
| Efficiency | |||||
| Days sales outstanding | 10 days | Good beats 93% | 54 days | 19 days | ▲ Better |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 8 Good · ● 4 Average · ● 2 BadCash quality
Earnings backed by cashGood
Risk models
Altman Z''Average
Piotroski F-ScoreAverage
Growth
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 62/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $22.8B | $23.3B | $22.9B | $25.5B | $25.9B |
| Operating income | $8.4B | $7.0B | $6.2B | $6.9B | $6.5B |
| Net income | $4.3B | $3.5B | $1.8B | $1.9B | $2.2B |
| Operating cash flow | $7.7B | $5.1B | $5.3B | $7.2B | $5.6B |
| Operating margin | 36.6% | 30.2% | 27.2% | 27.0% | 25.2% |
| Free cash flow | $5.6B | $1.7B | $455M | $2.4B | $1.1B |
| Diluted EPS | $2.90 | – | – | – | – |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
4 bullish · 1 neutral · 11 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 70.01 | Bearish |
| EMA 10 | 69.15 | Bearish |
| SMA 20 | 70.66 | Bearish |
| EMA 20 | 70.19 | Bearish |
| SMA 50 | 71.78 | Bearish |
| EMA 50 | 70.18 | Bearish |
| SMA 100 | 67.92 | Bearish |
| EMA 100 | 68.14 | Bearish |
| SMA 200 | 64.69 | Bearish |
| EMA 200 | 63.57 | Bullish |
Oscillators (daily)
| RSI (14) | 31.73 | Neutral |
| MACD (12, 26) | -0.97 | Bearish |
| Momentum (12) | -10.79 | Bearish |
| Stochastic %K (14) | 4.44 | Bullish |
| Williams %R (14) | -95.56 | Bullish |
| CCI (20) | -236.7 | Bullish |
Pivot points (classic, last session)
S3 61.19 | S2 62.68 | S1 63.63 | Pivot 65.12 | R1 66.07 | R2 67.56 | R3 68.51 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.60 USD
Yield on today's price
0.93%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 | |
| 0.1500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold FCX
| ETF | Share of the fund |
|---|---|
| PICK iShares MSCI Global Metals & Mining Pr... | 5.44% |
| XLB Materials Select Sector SPDR | 5.30% |
| COPX Global X Copper Miners | 4.76% |
| XME SPDR S&P Metals and Mining | 4.26% |
| GNR SPDR S&P Global Natural Resources | 2.37% |
| DIVO Amplify CWP Enhanced Dividend Income | 1.92% |
| GUNR FlexShares Morningstar Global Upstream... | 1.55% |
| SPHB Invesco S&P 500 High Beta | 1.02% |
The eight funds with the largest weight in FCX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
FCX stock splits
FCX has split its stock once since 2011. The latest was a 2-for-1 split on 2 Feb 2011.
Full FCX stock split history →FCX SEC filings
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.