Aureus
FRed Flag

Freeport-McMoRan, Inc.(FCX)

F

Financial data as of Dec 31, 2025Declining · Materials

FCF Margin3.8%Free Cash Flow / Revenue
Cash Conversion254.5%Operating CF / Net Income
Free Cash Flow$1.1B
Revenue$25.9B
Net Cash-$6.7BNet debt position
Debt / FCF10.5xElevated debt burden
Current Ratio2.29Adequate short-term liquidity
YoY FCF Growth-200.0%3 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseD
→
-2Very high debt-to-FCF ratio (10.5x)
→
-1Significant YoY FCF decline (-200.0%)
→
-0.5Highly volatile FCF (consistency: 1.97)
→
FinalF

Analysis Summary

Strengths

  • Excellent cash conversion (255%)
  • Strong liquidity (current ratio: 2.29)

Concerns

  • Low FCF margin (3.8%)
  • Heavy debt position ($6.7B net debt, 10.5x FCF)
  • High debt-to-FCF ratio (10.5x)
  • Only 3 positive FCF quarters recently
  • Significant YoY FCF decline (-200.0%)
  • Highly volatile quarterly FCF
Heavy CapEx — Operating cash flow is strong (22% margin) but most is reinvestedSBC-adjusted FCF used — $0.1B stock-based compensation (11% of reported FCF) subtracted

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin3.8%
Net Margin8.5%
Operating CF Margin21.6%
CapEx Ratio17.3%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$6.7BNet debt position
Debt / FCF10.5xElevated debt burden
Current Ratio2.29Strong liquidity
Debt / Equity0.56Low leverage

Quarterly FCF Trend

-200.0% YoYDeclining (-200.0%)

Free cash flow per quarter

Sector Comparison — Materials

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameFreeport-McMoRan, Inc.
SectorMaterials
Free Cash Flow$1.1B
Revenue$25.9B
Net Income$2.2B
Operating Cash Flow$5.6B
Capital Expenditure$4.5B
FCF Margin3.8%
Cash Conversion Rate254.5%
Net Margin8.5%
Total Debt$10.5B
Total Cash$3.8B
Net Cash-$6.7B
Current Ratio2.29
Debt / Equity0.56
Debt / FCF10.5x
YoY FCF Growth-200.0%
Positive Quarters3 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance