Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026
Basics
Sector
Basic Materials
Industry
Copper
Country
United States
Market cap
88.7B USD
Enterprise value
105.2B USD
Full-time employees
29,000
Overall health
Strength:growing faster than most peersgrowing faster than peers
Drawback:higher risk than most peers: its share price swings more than most peers’ (beta 1.39 vs a peer median of 0.69)higher risk: bigger price swings (beta 1.39 vs peers 0.69)
About average: valuation
Ranks #341 of 1,217 basic materials companies (top 29%)
Stock pay outran buybacks. Stock-based pay expense $339M vs $166M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Freeport-McMoRan recorded $339M of stock-based pay expense and spent $166M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Freeport-McMoRan recorded $339M of stock-based pay expense and spent $166M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Wide margins.Operating margin 27% (12 months to Jun 2026) vs a peer median of 7.6%.Operating margin 27% vs peers 7.6%.
Freeport-McMoRan keeps 27% of revenue as operating profit, more than 90% of peers (median 7.6%).
More volatile share price. Beta 1.39: tends to move more than the market.
Freeport-McMoRan's shares have swung more with the market than most peers' (beta 1.39, above the market's 1.0).
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 48 → 49
Share price -6.3%+2
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Why it changed since the Oct 27, 2026 close: Score 91 → 92
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Freeport-McMoRan
Is Freeport-McMoRan getting weaker?
Its latest SEC filing (Aug 6, 2026) got weaker in some ways: 12-month revenue fell 2.2%. Its overall score is unchanged at 63/100 since Oct 28, 2026.
How is Freeport-McMoRan valued vs its peers?
Priced about in line with its peers. Valuation scores 49/100 against 1,371 basic materials peers.
Is Freeport-McMoRan growing?
Yes, faster than most of its peers. Growth scores 92/100 against 1,371 basic materials peers.Earnings per share growth 415.7% vs a peer median of 9.4% (stronger than 95% of peers).Earnings per share growth 415.7% vs peers 9.4% (stronger than 95% of peers).
How profitable is Freeport-McMoRan?
More profitable than most of its peers. Profitability scores 85/100 against 1,371 basic materials peers.Operating margin 26.8% vs a peer median of 7.6% (stronger than 90% of peers).Operating margin 26.8% vs peers 7.6% (stronger than 90% of peers).
How risky is Freeport-McMoRan?
Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 2.07× vs a peer median of 1.76× (stronger than 61% of peers).Current ratio 2.07× vs peers 1.76× (stronger than 61% of peers).Beta 1.39 vs a peer median of 0.69 (weaker than 88% of peers).Beta 1.39 vs peers 0.69 (weaker than 88% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026
Got weaker
12-month revenue fell 2.2%
Previous quarter
Latest quarter
Change
Revenue (12 months)
26.4B USD
25.9B USD
−2.2%
Net income (12 months)
2.8B USD
2.9B USD
+5.3%
Operating margin
27.8%
26.8%
−1.0 pts
Free cash flow (12 months)
1.8B USD
1.6B USD
−8.4%
Debt
9.4B USD
9.4B USD
−0.3%
Cash
3.7B USD
4.1B USD
+9.2%
Shares outstanding
1.44B
1.44B
−0.1%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Basic Materials · 121 companies
Valuations in Basic Materials are near the top of their range since 2016.
84% of months since 2016 were valued lower than now.
43% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +23% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is −9% vs the whole market, against a usual −27%.
2016Shaded: most expensive fifth of its range2026
Shown for Basic Materials: too few Copper companies have a long enough history of their own.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
38.6%
35.2%
31.3%
30.1%
28.2%
▼ 1.9 pts
Operating margin
36.6%
30.2%
27.2%
27.0%
25.2%
▼ 1.8 pts
Net margin
23.5%
19.2%
16.4%
17.3%
16.0%
▼ 1.3 pts
Return on assets (ROA)
11.2%
8.8%
7.1%
8.0%
7.1%
▼ 0.9 pts
Return on equity (ROE)
38.4%
28.8%
22.5%
25.0%
22.0%
▼ 3.1 pts
Free cash flow margin
24.5%
7.2%
2.0%
9.2%
4.3%
▼ 4.9 pts
Current ratio
2.52×
2.46×
2.42×
2.42×
2.29×
▼ 5.3%
Quick ratio
2.36×
2.28×
2.11×
—
—
—
Debt to equity
0.68×
0.68×
0.56×
0.51×
0.50×
▼ 2.5%
FCX price history
Price history is added with the daily price update and will appear after the next one.