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Freeport-McMoRan

NYSE:FCX
Snowflake Description

Undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCX
NYSE
$15B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The last earnings update was 16 days ago. More info.


Add to Portfolio Compare Print
  • Freeport-McMoRan has significant price volatility in the past 3 months.
FCX Share Price and Events
7 Day Returns
-5.6%
NYSE:FCX
-0.9%
US Metals and Mining
0.2%
US Market
1 Year Returns
-42.1%
NYSE:FCX
-28.1%
US Metals and Mining
2.9%
US Market
FCX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Freeport-McMoRan (FCX) -5.6% -25.3% -23.9% -42.1% -11.3% -70.6%
US Metals and Mining -0.9% -8.5% -11.9% -28.1% 6.6% -16.9%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • FCX underperformed the Metals and Mining industry which returned -28.1% over the past year.
  • FCX underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
FCX
Industry
5yr Volatility vs Market

FCX Value

 Is Freeport-McMoRan undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Freeport-McMoRan to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Freeport-McMoRan.

NYSE:FCX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:FCX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.961 (1 + (1- 21%) (69.63%))
1.328
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.328 * 5.96%)
10.64%

Discounted Cash Flow Calculation for NYSE:FCX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Freeport-McMoRan is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:FCX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.64%)
2019 207.00 Analyst x2 187.09
2020 899.71 Analyst x7 734.95
2021 3,263.65 Analyst x8 2,409.51
2022 4,134.20 Analyst x5 2,758.62
2023 4,488.67 Analyst x3 2,707.03
2024 4,783.93 Est @ 6.58% 2,607.57
2025 5,043.38 Est @ 5.42% 2,484.55
2026 5,276.16 Est @ 4.62% 2,349.19
2027 5,489.84 Est @ 4.05% 2,209.20
2028 5,690.43 Est @ 3.65% 2,069.65
Present value of next 10 years cash flows $20,517.36
NYSE:FCX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $5,690.43 × (1 + 2.73%) ÷ (10.64% – 2.73%)
$73,873.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $73,873.40 ÷ (1 + 10.64%)10
$26,868.25
NYSE:FCX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $20,517.36 + $26,868.25
$47,385.60
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $47,385.60 / 1,450.63
$32.67
NYSE:FCX Discount to Share Price
Calculation Result
Value per share (USD) From above. $32.67
Current discount Discount to share price of $10.06
= -1 x ($10.06 - $32.67) / $32.67
69.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Freeport-McMoRan is available for.
Intrinsic value
>50%
Share price is $10.06 vs Future cash flow value of $32.67
Current Discount Checks
For Freeport-McMoRan to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Freeport-McMoRan's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Freeport-McMoRan's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Freeport-McMoRan's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Freeport-McMoRan's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FCX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.34
NYSE:FCX Share Price ** NYSE (2019-05-22) in USD $10.06
United States of America Metals and Mining Industry PE Ratio Median Figure of 47 Publicly-Listed Metals and Mining Companies 9.73x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Freeport-McMoRan.

NYSE:FCX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FCX Share Price ÷ EPS (both in USD)

= 10.06 ÷ 1.34

7.51x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Freeport-McMoRan is good value based on earnings compared to the US Metals and Mining industry average.
  • Freeport-McMoRan is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Freeport-McMoRan's expected growth come at a high price?
Raw Data
NYSE:FCX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
34.7%per year
United States of America Metals and Mining Industry PEG Ratio Median Figure of 25 Publicly-Listed Metals and Mining Companies 0.62x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NYSE:FCX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.51x ÷ 34.7%

0.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Freeport-McMoRan is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Freeport-McMoRan's assets?
Raw Data
NYSE:FCX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $6.74
NYSE:FCX Share Price * NYSE (2019-05-22) in USD $10.06
United States of America Metals and Mining Industry PB Ratio Median Figure of 104 Publicly-Listed Metals and Mining Companies 1.45x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NYSE:FCX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FCX Share Price ÷ Book Value per Share (both in USD)

= 10.06 ÷ 6.74

1.49x

* Primary Listing of Freeport-McMoRan.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Freeport-McMoRan is overvalued based on assets compared to the US Metals and Mining industry average.
X
Value checks
We assess Freeport-McMoRan's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. Freeport-McMoRan has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCX Future Performance

 How is Freeport-McMoRan expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
34.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Freeport-McMoRan expected to grow at an attractive rate?
  • Freeport-McMoRan's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Freeport-McMoRan's earnings growth is expected to exceed the United States of America market average.
  • Freeport-McMoRan's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FCX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FCX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 34.7%
NYSE:FCX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 9.5%
United States of America Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
United States of America Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:FCX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FCX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 22,929 7,510 3,311 2
2022-12-31 20,232 6,266 2,987 4
2021-12-31 18,850 5,407 2,245 10
2020-12-31 15,896 3,566 1,170 14
2019-12-31 15,156 2,411 548 14
NYSE:FCX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 17,552 3,028 1,941
2018-12-31 18,628 3,863 2,613
2018-09-30 19,985 5,579 3,152
2018-06-30 19,387 5,515 2,870
2018-03-31 17,930 5,243 2,257
2017-12-31 16,403 4,666 1,751
2017-09-30 15,739 4,147 1,040
2017-06-30 15,306 3,944 1,008
2017-03-31 14,929 3,781 462
2016-12-31 14,830 3,737 -3,901
2016-09-30 13,969 3,206 -8,280
2016-06-30 13,474 3,048 -12,364

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Freeport-McMoRan's earnings are expected to grow significantly at over 20% yearly.
  • Freeport-McMoRan's revenue is expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:FCX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Freeport-McMoRan Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.27 2.27 2.27 1.00
2022-12-31 2.05 2.91 1.53 3.00
2021-12-31 1.54 2.22 1.32 8.00
2020-12-31 0.80 1.33 0.55 10.00
2019-12-31 0.40 0.63 0.20 8.00
NYSE:FCX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.34
2018-12-31 1.80
2018-09-30 2.18
2018-06-30 1.98
2018-03-31 1.56
2017-12-31 1.21
2017-09-30 0.72
2017-06-30 0.71
2017-03-31 0.34
2016-12-31 -2.96
2016-09-30 -6.56
2016-06-30 -10.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Freeport-McMoRan is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Freeport-McMoRan's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Freeport-McMoRan has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCX Past Performance

  How has Freeport-McMoRan performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Freeport-McMoRan's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Freeport-McMoRan has delivered over 20% year on year earnings growth in the past 5 years.
  • Freeport-McMoRan's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Freeport-McMoRan's 1-year earnings growth is negative, it can't be compared to the US Metals and Mining industry average.
Earnings and Revenue History
Freeport-McMoRan's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Freeport-McMoRan Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 17,552.00 1,941.00 535.00
2018-12-31 18,628.00 2,613.00 548.00
2018-09-30 19,985.00 3,152.00 573.00
2018-06-30 19,387.00 2,870.00 587.00
2018-03-31 17,930.00 2,257.00 609.00
2017-12-31 16,403.00 1,751.00 622.00
2017-09-30 15,739.00 1,040.00 632.00
2017-06-30 15,306.00 1,008.00 613.00
2017-03-31 14,929.00 462.00 597.00
2016-12-31 14,830.00 -3,901.00 638.00
2016-09-30 13,969.00 -8,280.00 577.00
2016-06-30 13,474.00 -12,364.00 602.00
2016-03-31 14,078.00 -13,932.00 641.00
2015-12-31 14,607.00 -12,251.00 665.00
2015-09-30 16,326.00 -11,036.00 672.00
2015-06-30 18,640.00 -6,643.00 711.00
2015-03-31 20,224.00 -4,309.00 731.00
2014-12-31 20,001.00 -1,423.00 686.00
2014-09-30 22,088.00 2,247.00 670.00
2014-06-30 22,557.00 2,517.00 773.00
2014-03-31 21,323.00 2,519.00 750.00
2013-12-31 20,921.00 2,658.00 750.00
2013-09-30 19,549.00 2,694.00 812.00
2013-06-30 17,801.00 2,697.00 711.00
2013-03-31 17,988.00 2,925.00 706.00
2012-12-31 18,010.00 3,041.00 716.00
2012-09-30 17,659.00 2,938.00 694.00
2012-06-30 18,437.00 3,167.00 685.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Freeport-McMoRan has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Freeport-McMoRan used its assets less efficiently than the US Metals and Mining industry average last year based on Return on Assets.
  • Freeport-McMoRan has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Freeport-McMoRan's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Freeport-McMoRan has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCX Health

 How is Freeport-McMoRan's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Freeport-McMoRan's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Freeport-McMoRan is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Freeport-McMoRan's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Freeport-McMoRan's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Freeport-McMoRan Company Filings, last reported 1 month ago.

NYSE:FCX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 17,841.00 10,161.00 2,948.00
2018-12-31 17,892.00 11,141.00 4,326.00
2018-09-30 13,454.00 11,127.00 4,672.00
2018-06-30 12,842.00 11,127.00 3,979.00
2018-03-31 11,926.00 11,606.00 3,825.00
2017-12-31 11,296.00 13,229.00 4,578.00
2017-09-30 10,230.00 14,782.00 4,998.00
2017-06-30 9,993.00 15,354.00 4,701.00
2017-03-31 9,587.00 15,363.00 4,033.00
2016-12-31 9,257.00 16,027.00 4,273.00
2016-09-30 9,840.00 18,982.00 1,136.00
2016-06-30 9,090.00 19,319.00 382.00
2016-03-31 8,737.00 20,777.00 360.00
2015-12-31 12,808.00 20,324.00 205.00
2015-09-30 15,966.00 20,698.00 368.00
2015-06-30 18,812.00 20,902.00 466.00
2015-03-31 20,786.00 20,312.00 549.00
2014-12-31 23,225.00 18,849.00 481.00
2014-09-30 26,715.00 19,737.00 658.00
2014-06-30 26,412.00 20,296.00 1,458.00
2014-03-31 26,226.00 20,850.00 1,342.00
2013-12-31 25,947.00 20,706.00 1,985.00
2013-09-30 25,274.00 21,123.00 2,219.00
2013-06-30 24,649.00 21,215.00 3,294.00
2013-03-31 21,849.00 10,092.00 9,595.00
2012-12-31 21,311.00 3,527.00 3,705.00
2012-09-30 20,743.00 3,523.00 3,727.00
2012-06-30 19,890.00 3,523.00 4,508.00
  • Freeport-McMoRan's level of debt (57%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (79.5% vs 57% today).
  • Debt is well covered by operating cash flow (29.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.8x coverage).
X
Financial health checks
We assess Freeport-McMoRan's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Freeport-McMoRan has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCX Dividends

 What is Freeport-McMoRan's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.99%
Current annual income from Freeport-McMoRan dividends. Estimated to be 2.42% next year.
If you bought $2,000 of Freeport-McMoRan shares you are expected to receive $40 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Freeport-McMoRan's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Freeport-McMoRan's dividend is below the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:FCX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
United States of America Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:FCX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.25 1.00
2022-12-31 0.24 4.00
2021-12-31 0.24 9.00
2020-12-31 0.21 12.00
2019-12-31 0.20 13.00
NYSE:FCX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-27 0.200 1.633
2018-12-19 0.200 1.698
2018-09-26 0.200 1.686
2018-06-27 0.200 1.323
2018-03-28 0.200 1.184
2018-02-20 0.200 1.088
2017-11-07 0.000 0.000
2017-10-25 0.000 0.000
2017-08-04 0.000 0.000
2017-07-25 0.000 0.000
2017-05-05 0.000 0.000
2017-04-25 0.000 0.000
2017-02-24 0.000 0.000
2017-01-25 0.000 0.000
2016-11-09 0.000 0.000
2016-10-26 0.000 0.000
2016-08-05 0.000 0.000
2016-07-26 0.000 0.000
2015-12-09 0.000 0.000
2015-09-30 0.000 0.000
2015-06-24 0.200 1.696
2015-03-24 0.200 0.977
2014-12-19 1.250 6.229
2014-09-24 1.250 4.441
2014-06-25 1.250 3.427
2014-03-26 1.250 3.675
2013-12-20 1.250 3.726
2013-09-25 1.250 3.559
2013-06-27 1.250 4.141
2013-03-27 1.250 4.092
2012-12-26 1.250 3.681
2012-09-26 1.250 3.324
2012-06-27 1.250 3.519
2012-02-07 1.250 3.380
2011-12-28 1.500 3.530
2011-09-29 1.500 4.033
2011-06-30 1.500 3.298
2011-03-31 1.500 2.938
2010-10-21 1.000 1.868
2010-09-29 0.600 1.288
2010-04-21 0.600 1.710
2010-03-25 0.300 0.720
2009-12-31 0.300 0.775
2009-10-21 0.300 0.746
2009-08-07 0.000 0.000
2009-07-21 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Freeport-McMoRan's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (6.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.9x coverage).
X
Income/ dividend checks
We assess Freeport-McMoRan's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Freeport-McMoRan afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Freeport-McMoRan has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCX Management

 What is the CEO of Freeport-McMoRan's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Richard Adkerson
COMPENSATION $16,424,035
AGE 71
TENURE AS CEO 15.4 years
CEO Bio

Mr. Richard C. Adkerson has been the President of Freeport-Mcmoran Oil & Gas LLC since January 1, 2008 and its Chief Executive Officer since December 10, 2003. Mr. Adkerson serves as an Executive Vice President of PT Freeport Indonesia, is a subsidiary of Freeport-McMoRan. He serves as Chief Executive Officer of FM Properties Inc. He served as the Chief Financial Officer of Freeport-McMoRan Inc. from October 2000 to December 10, 2003 and its President from April 1997 to March 2007. He served as the President and Chief Executive Officer of Mcmoran Exploration Co. since November 1998 until February 2004. Mr. Adkerson served as an Executive Vice President of FCX from July 1995 to April 1997 and as Chief Financial Officer from July 1995 to November 1998. He served as Chairman of the Board and Chief Executive Officer of Stratus Properties Inc., a real estate company, until 1998. He served as Senior Vice President and Chief Financial Officer of FTX until 1995. Prior to joining Freeport-McMoRan in 1989, he was Partner and Managing Director in Arthur Andersen & Co., where he headed Worldwide Oil and Gas Industry Practice. From 1976 to 1978, he was a Professional Accounting Fellow with the Securities and Exchange Commission in Washington, D.C. He serves as Chairman of the International Council on Mining and Metals. He serves as the Chairman of FM Properties Inc. Mr. Adkerson serves as the Chairman of Atlantic Copper, is a subsidiary of Freeport-McMoRan. He serves as the Chairman of FM Services Company, a subsidiary of Freeport-McMoRan Inc. He has been a Vice Chairman of Freeport-McMoRan Inc. since May 2013. He served as Vice-Chairman of the National WWII Museum. He served as Co-Chairman of the Board of Mcmoran Exploration Co., from November 1998 to June 2013. He has been Vice Chairman of Freeport-McMoRan Sulphur L.L.C. (also known as Freeport-McMoRan Sulphur Inc.) from November 1997 to November 1998. He has been a Director of Freeport-McMoRan Inc. since October 2006. He serves as a Director of The Arizona Commerce Authority and Greater Phoenix Leadership. He serves as a Director of PT Freeport Indonesia. He serves as a Director of FM Properties Inc. He serves as a Director of Greater Phoenix Economic Council. He served as a Director of Hi-Lo Automotive, Inc. since July 1993. Mr. Adkerson served as a Director of Mcmoran Exploration Co., from 1994 to June 2013. He served as Director of Freeport-McMoRan Sulphur L.L.C. and Freeport McMoRan Inc. He serves on the Board of Visitors of the M.D. Anderson Cancer Center in Houston, Texas. He serves on the University’s Advisory Board for the College of Business. He is a member of the Council on Foreign Relations, The Business Council and the Business Roundtable. He served as President of the Mississippi State University Foundation Board of Directors, chaired its “State of the Future” capital campaign and serves on the University’s Advisory Board for the College of Business. He was inducted into the American Mining Hall of Fame in 2010, named National Alumnus of the Year of Mississippi State University in 2011, received The American Institute of Mining, Metallurgical and Petroleum Engineers Charles F. Rand Memorial Award in 2011 and named Executive of the Year by the W. P. Carey School of Business Dean’s Council at Arizona State University in 2011. In each of the past four years, Mr. Adkerson was named The Best CEO in Metals and Mining by Institutional Investor magazine and was named The Copper Man of the Year 2009 by The Copper Club. His work commenced in 1970, when he began his career in Public Accounting. Mr. Adkerson is Graduated with highest honors in 1969 and holds a B.S. and M.B.A. in Accounting in 1970 from Mississippi State University and completed Advanced Management Program at Harvard Business School in 1988. In 2010, he received an Honorary Doctor of Science degree from Mississippi State.

CEO Compensation
  • Richard's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Richard's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Freeport-McMoRan management team in years:

12
Average Tenure
68
Average Age
  • The average tenure for the Freeport-McMoRan management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Richard Adkerson

TITLE
Vice Chairman
COMPENSATION
$16M
AGE
71
TENURE
15.4 yrs

Kathleen Quirk

TITLE
Executive VP & CFO
COMPENSATION
$7M
AGE
54
TENURE
15.4 yrs

Red Conger

TITLE
President & COO of Americas
COMPENSATION
$5M
AGE
62
TENURE
12.3 yrs

James Moffett

TITLE
Chairman Emeritus
COMPENSATION
$25M
AGE
80
TENURE
3.3 yrs

Stephen Higgins

TITLE
Senior VP & Chief Administrative Officer

L. McMillan

TITLE
Senior VP & General Counsel
AGE
71
TENURE
11.6 yrs

W. King

TITLE
Senior Vice President of International Relations & Federal Government Affairs
AGE
68

Javier Targhetta

TITLE
Senior Vice President of FCX - Concentrates

Lynne Cooney

TITLE
VP & Assistant to the Chairman

Mark Johnson

TITLE
President & COO of Freeport-McMoRan Indonesia
COMPENSATION
$4M
AGE
59
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Freeport-McMoRan board of directors in years:

5.7
Average Tenure
75
Average Age
  • The tenure for the Freeport-McMoRan board of directors is about average.
Board of Directors

Jerry Ford

TITLE
Non-Executive Chairman of the Board
COMPENSATION
$327K
AGE
74
TENURE
3.4 yrs

Richard Adkerson

TITLE
Vice Chairman
COMPENSATION
$16M
AGE
71
TENURE
6 yrs

James Moffett

TITLE
Chairman Emeritus
COMPENSATION
$25M
AGE
80
TENURE
3.4 yrs

Dustan McCoy

TITLE
Director
COMPENSATION
$278K
AGE
68
TENURE
12.3 yrs

Frances Fragos Townsend

TITLE
Director
COMPENSATION
$270K
AGE
56
TENURE
6.3 yrs

J. Johnston

TITLE
Member of Advisory Board
COMPENSATION
$780K
AGE
85

Gabrielle McDonald

TITLE
Member of Advisory Board
COMPENSATION
$723K
AGE
76

J. Roy

TITLE
Member of Advisory Board
COMPENSATION
$556K
AGE
81

Lydia Kennard

TITLE
Director
COMPENSATION
$265K
AGE
63
TENURE
5.4 yrs

Henry Kissinger

TITLE
Director Emeritus
AGE
94
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. Feb 19 Sell C. Whitmire Individual 12. Feb 19 12. Feb 19 -7,425 $11.58 $-85,955
01. Nov 18 Sell Courtney Mather Individual 30. Oct 18 30. Oct 18 -75,000 $11.15 $-836,250
X
Management checks
We assess Freeport-McMoRan's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Freeport-McMoRan has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCX News

Simply Wall St News

Investors Who Bought Freeport-McMoRan (NYSE:FCX) Shares Five Years Ago Are Now Down 68%

During five years of share price growth, Freeport-McMoRan moved from a loss to profitability. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … If you would like to research Freeport-McMoRan in more detail then you might want to take a look at whether insiders have been buying or selling shares in the company.

Simply Wall St -

Is Freeport-McMoRan Inc.'s (NYSE:FCX) CEO Pay Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Richard Adkerson's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Do Directors Own Freeport-McMoRan Inc. (NYSE:FCX) Shares?

Generally speaking, as a company grows, institutions will increase their ownership. … Normally institutions would own a significant portion of a company this size. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Here's Why We Think Freeport-McMoRan (NYSE:FCX) Is Well Worth Watching

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Freeport-McMoRan (NYSE:FCX). … One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … While we note Freeport-McMoRan's EBIT margins were flat over the last year, revenue grew by a solid 14% to US$19b.

Simply Wall St -

Freeport-McMoRan Inc. (NYSE:FCX): Time For A Financial Health Check

One reason being its ‘too big to fail’ aura which gives it the appearance of a strong and stable investment. … Today we will look at Freeport-McMoRan’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

A Look At Freeport-McMoRan Inc.'s (NYSE:FCX) Exceptional Fundamentals

Looking at the company as a whole, as a potential stock investment, I believe FCX has a lot to offer. … is a company that has been able to sustain great financial health, trading at an attractive share price. … For those interested in digger a bit deeper into my commentary,

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Freeport-McMoRan Inc. (NYSE:FCX)

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Freeport-McMoRan Inc.'s (NYSE:FCX) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate Freeport-McMoRan's Price To Earnings Ratio

Simply Wall St -

Freeport-McMoRan Shareholders Have Enjoyed A 73% Share Price Gain

(NYSE:FCX) share price is up 73% in the last three years, clearly besting than the market return of around 53%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, Freeport-McMoRan moved from a loss to profitability.

Simply Wall St -

Freeport-McMoRan Inc. (NYSE:FCX) Delivered A Better ROE Than Its Industry

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every $1 worth of shareholders' equity, it generated $0.16 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Have Insiders Been Selling Freeport-McMoRan Inc. (NYSE:FCX) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. … However, most countries require that the company discloses such transactions to the market.

Simply Wall St -

FCX Company Info

Description

Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. It also operates a portfolio of oil and gas assets comprising oil and natural gas production onshore in South Louisiana; and oil production offshore California. As of December 31, 2018, the company’s estimated consolidated recoverable proven and probable mineral reserves totaled 119.6 billion pounds of copper, 30.8 million ounces of gold, and 3.78 billion pounds of molybdenum, as well as estimated proved developed oil and natural gas reserves totaled 7.2 million barrels of oil equivalents. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.

Details
Name: Freeport-McMoRan Inc.
FCX
Exchange: NYSE
Founded: 1987
$14,593,383,583
1,450,634,551
Website: http://www.fcx.com
Address: Freeport-McMoRan Inc.
333 North Central Avenue,
Phoenix,
Arizona, 85004,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FCX Class B Common Stock New York Stock Exchange US USD 10. Jul 1995
DB FPMB Class B Common Stock Deutsche Boerse AG DE EUR 10. Jul 1995
XTRA FPMB Class B Common Stock XETRA Trading Platform DE EUR 10. Jul 1995
LSE 0R2O Class B Common Stock London Stock Exchange GB USD 10. Jul 1995
WBAG FCX Class B Common Stock Wiener Boerse AG AT EUR 10. Jul 1995
SNSE FCX Class B Common Stock Santiago Stock Exchange CL USD 10. Jul 1995
BMV FCX * Class B Common Stock Bolsa Mexicana de Valores MX MXN 10. Jul 1995
BVL FCX Class B Common Stock Bolsa de Valores de Lima PE USD 10. Jul 1995
BOVESPA FCXO34 BDR EACH REPR 1 COM SH Bolsa de Valores de Sao Paulo BR BRL 03. Jan 2012
BASE FCX CEDEAR EACH REP 1/4 ORD SHS Buenos Aires Stock Exchange AR ARS 27. Apr 2011
Number of employees
Current staff
Staff numbers
26,800
Freeport-McMoRan employees.
Industry
Copper
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 04:06
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/22
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.