Freeport-McMoRan Inc. (FCX)

NYSE: FCX · USD

$66.5

+0.58 (+0.9%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-25

Our latest published analysis: FCX rated Sell

Freeport-McMoRan Inc.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$32.5 / share

Potential value

$43.0 / share

Upside to FV

-55.0%

from $66.5

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$103.5B
Revenue (ttm)	26.4B
Net income (ttm)	3.4B
EPS (ttm)	$2.38
Shares out	1.4B
P/E (trailing)	28.0x
P/E (forward)	18.1x
Dividend	$0.60 (0.90%)
Volume	7,600,667
Beta	1.39

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 26.4B
Net income (ttm): 3.4B
EPS (ttm): $2.38
P/E (trailing): 28.0x
P/E (forward): 18.1x
Market cap: $103.5B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$22.42B	$23.27B	$22.70B	$25.17B	$25.19B	+2.9%
Gross profit	$8.29B	$8.09B	$6.88B	$7.50B	$6.95B	-4.3%
Operating income	$8.37B	$7.04B	$6.23B	$6.86B	$6.52B	-6.0%
Net income	$4.30B	$3.46B	$1.84B	$1.88B	$2.20B	-15.4%
EPS (diluted)	$2.90	$2.43	$1.53	$1.47	$1.75	-11.9%
EBITDA	$10.26B	$9.29B	$8.59B	$9.47B	$8.76B	-3.9%
R&D	—	—	—	—	—	—
SG&A	$383.0M	$420.0M	$479.0M	$513.0M	$545.0M	+9.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	보유
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	보유
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	매도
APD	Air Products and Chemicals, Inc.	68.3B	—	5.4x	8.9%	+5.2%	+23.1%	보유
AVY	Avery Dennison Corporation	13.7B	19.8x	1.5x	15.1%	+3.3%	+1.6%	보유
BALL	Ball Corporation	16.7B	18.0x	1.2x	8.7%	+2.3%	+28.3%	매수

Base and Bull scenarios

Base55%

Price target

$32.53

-55.0% from spot

The Base scenario represents the modal operating expectation, assigning a probability of 55.0% and projecting a target of $32.53, reflecting a return of -55.0% relative to $72.31 toward Fair value of $32.53. In this scenario, global copper demand expands steadily in line with secular electrification trends, while consensus revenue and earnings growth materializes as modeled across FY2026 and FY2027. Smelter commissioning concludes in an orderly manner, allowing capital expenditures to taper from peak build levels toward normalized sustaining maintenance outlays. While free cash flow expands meaningfully over the multi-year projection horizon, the prevailing share price of $72.31 already discounts growth well ahead of fundamental cash flow support, leaving upside constrained.

Consensus revenue ramps in line with expectations across FY2026 and FY2027 as downstream smelting capacity comes online.
Operating margins normalize near historical mid-cycle levels, balancing high-margin mine output against downstream processing.
Capital expenditures taper gradually from peak transformation spending toward normalized sustaining maintenance levels.
Indonesian export authorizations and IUPK regulatory operating conditions remain stable.

Bull20%

Price target

$42.99

-40.5% from spot

Under the Bull scenario, with a probability of 20.0%, equity valuation reaches $42.99, offering a return of -40.5% against $72.31. This outcome is anchored by an accelerating global structural copper supply deficit driven by rapid renewable grid expansion, electric vehicle infrastructure buildout, and AI data center electrification. Realized copper prices sustain premium levels while Grasberg underground block caving operates at peak efficiency with maximal gold by-product credits. Simultaneously, the Manyar smelter achieves seamless commercial throughput ahead of budget, enabling annual capital expenditures to normalize rapidly toward sustaining levels and driving free cash flow expansion toward Potential value of $42.99.

Global copper benchmark prices sustain elevated premium levels supported by structural electrification demand.
Manyar smelter achieves full commercial nameplate processing capacity ahead of schedule with minimal ramp friction.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($32.53). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.5%	2.8%	3.0%	3.3%	3.5%
8.7%	$35.0	$35.8	$36.6	$37.5	$38.4
9.2%	$33.1	$33.7	$34.4	$35.1	$35.9
9.7%	$31.4	$32.0	$32.5	$33.1	$33.8
10.2%	$30.0	$30.4	$30.9	$31.4	$32.0
10.7%	$28.6	$29.0	$29.4	$29.9	$30.3

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E18.2

P25 n/aP50 n/aP75 n/a

Trailing P/E35.3

P25 n/aP50 n/aP75 n/a

ROE15.7

P25 n/aP50 n/aP75 n/a

ROIC13.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All FCX indicators

Market & fundamental data

Available fields

292

Groups with data

Currency

USD

Showing 292 of 292 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000831259
Company name	Freeport-McMoRan Inc.
Country	United States
Country code	US
CUSIP number	35671D857
Earnings date	2026-10-27
Earnings time	bmo
Employees	29,000
Employees change	500
Employees growth	1.75%
Enterprise value	$101.6B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1987
In index	SP500
Industry	Copper
Is primary listing	Yes
Is SPAC	No
ISIN number	US35671D8570
Last 10-K release date	2026-02-13
Last earnings date	2026-10-27
Last refreshed	2026-10-28
Last stock split date	2011-02-02
Last stock split type	Forward
Market cap	$95.5B
Market cap category	Large-Cap
Next earnings date	2027-01-21
Options	Yes
Price	$66.53
Price currency	USD
Sector	Materials
SIC code	1000
Stock price date	2026-10-28
Symbol	FCX
U.S. state	Arizona
Website	https://fcx.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	25.01x
Average P/E ratio (10Y)	25.55x
Average P/E ratio (3Y)	32.52x
Average P/E ratio (5Y)	26.39x
Earnings yield	3.58%
EV/Earnings	29.35x
EV/EBIT	13.34x
EV/EBITDA	10.13x
EV/FCF	51.72x
EV/Sales	3.82x
FCF / EV yield	1.93%
FCF yield	2.06%
Forward EV/Sales	2.78x
Forward P/E	16.8x
Forward P/S	2.61x
Graham number	28.32884
Graham upside	-57.13%
Industry forward P/E	22.34x
Industry P/E	24.56x
Lynch fair value	$11.90
Lynch upside	-81.99%
P/(FCF - SBC) ratio	52.81x
P/(OCF - SBC) ratio	15.72x
P/B ratio	4.4x
P/E ratio	27.95x
P/FCF ratio	48.64x
P/OCF ratio	15.32x
P/S ratio	3.59x
PEG ratio	0.46x
Price / tangible book value	4.52x
Price/EBITDA ratio	9.53x
Sector forward P/E	15.02x
Sector P/E	22.73x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	28.6%
EBITDA margin	37.66%
Effective tax rate	28.54%
FCF margin	7.38%
Gross margin	38.85%
Operating margin	28.6%
Pretax margin	26.62%
Profit margin	13.03%
Profit per employee	$118,552
Profitable quarters	25
Profitable years	6
Revenue per employee	$911,793
ROA	7.99%
ROA (5Y)	8.65%
ROCE	14.03%
ROE	15.72%
ROE (5Y)	17.69%
ROIC	13.83%
ROIC (5Y)	15.86%
SBC / revenue	0.58%
Tax / revenue	7.6%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	67.63%
EPS growth (Q)	76.09%
EPS growth (QoQ)	19.34%
EPS growth 3Y	16.67%
EPS growth 5Y	-2.06%
EPS growth quarters	5
EPS growth years	2
FCF growth	20.06%
FCF growth (Q)	35.2%
FCF growth (QoQ)	-12.92%
FCF growth 3Y	56.81%
FCF growth 5Y	-17.26%
Gross profit growth	2.05%
Gross profit growth (Q)	19.66%
Gross profit growth 3Y	4.77%
Gross profit growth 5Y	1.49%
Net income growth	66.26%
Net income growth (Q)	74.18%
Net income growth (QoQ)	20.29%
Net income growth 3Y	16.92%
Net income growth 5Y	-2.5%
Net income growth quarters	5
Net income growth years	2
OCF growth	-2.53%
OCF growth (Q)	19.05%
OCF growth (QoQ)	-3.27%
OCF growth 10Y	6.8%
OCF growth 3Y	7.19%
OCF growth 5Y	-1.75%
Operating income growth	9.09%
Operating income growth (Q)	36.04%
Operating income growth 3Y	7.7%
Operating income growth 5Y	0.97%
Revenue growth	1.69%
Revenue growth (Q)	8.23%
Revenue growth (QoQ)	7.36%
Revenue growth 10Y	6.59%
Revenue growth 3Y	5.21%
Revenue growth 5Y	4.54%
Revenue growth years	3

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-4.2B
Depreciation and amortization	$2.4B
EBIT	$7.6B
EBITDA	$10B
EPS	$2.38
FCF per share	$1.36
Financing cash flow	$-1.8B
Free cash flow	$2B
Free cash flow minus SBC	$1.8B
Gross profit	$10.3B
Income taxes	$2B
Investing cash flow	$-4.3B
Net borrowing	$51M
Net cash flow	$106M
Net income	$3.4B
Operating cash flow minus SBC	$6B
Operating income	$7.6B
Revenue	$26.4B
Stock-based compensation	$154M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.9
Book value per share	$14.99
Debt / EBITDA	1.02
Debt / equity	0.31
Debt / FCF	5.31
Interest coverage	22.37
Long-term assets	$46.2B
Long-term liabilities	$20.3B
Net cash (debt)	$-6B
Net cash / market cap	-6.35%
Net debt / EBITDA	0.6
Net debt / equity	0.18
Net debt / FCF	3.09
Piotroski F-Score	6
Property, plant and equipment	$42.3B
Shareholders' equity	$33.6B
Tangible book value	$21B
Tangible book value per share	$14.99
Total assets	$61.5B
Total cash	$4.3B
Total debt	$10.4B
Total liabilities	$27.9B
WACC	10.95%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.45
Current assets	$15.3B
Current liabilities	$7.6B
Current ratio	2.02
Inventory turnover	2.1
Net working capital	$5.1B
Quick ratio	0.79
Working capital	$7.7B
Working capital turnover	3.36

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.07%
Dividend growth	0%
Dividend growth (10Y)	0.46%
Dividend growth (3Y)	0%
Dividend growth (5Y)	21.67%
Dividend growth years	0
Dividend payment date	2026-11-02
Dividend payment years	9
Dividend payout frequency	Quarterly
Dividend per share	$0.60
Dividend yield	0.9%
Ex-dividend date	2026-10-15
FCF payout ratio	44.16%
Last dividend	$0.15
Payout ratio	25.21%
Shareholder yield	0.98%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	519.55%
10Y return CAGR	21.3%
10Y total return	589.39%
150-day SMA	$66.40
15Y price change	54.92%
15Y return CAGR	4.89%
15Y total return	104.5%
1D price change	0.88%
1M price change	-8.41%
1M total return	-8.21%
1W price change	-3.83%
1W total return	-3.83%
1Y price change	61.14%
1Y return CAGR	62.7%
1Y total return	62.64%
20-day SMA	$69.64
200-day SMA	$65.16
20Y price change	124.32%
20Y return CAGR	6.2%
20Y total return	233.06%
3M price change	5.6%
3M total return	5.82%
3Y price change	96.7%
3Y return CAGR	26.84%
3Y total return	104.12%
50-day SMA	$71.81
50-day SMA vs 200-day SMA	50over200
52-week high	$80.24
52-week high date	2026-08-26
52-week low	$38.54
52-week low date	2025-11-06
5Y price change	79%
5Y return CAGR	13.91%
5Y total return	91.8%
6M price change	9.35%
6M total return	9.85%
After-hours change	0.03%
After-hours close	$66.53
After-hours price	$66.55
All-time high	$80.24
All-time high date	2026-08-26
All-time low	$3.38
All-time low date	2000-11-17
Average true range (ATR)	$2.48
Average volume	10.7M
Beta (1Y)	1.74
Beta (2Y)	1.67
Beta (5Y)	1.39
Change from 52-week high	-17.09%
Change from 52-week low	72.63%
Change from all-time high	-17.46%
Change from all-time low	1,862.37%
Change from open	2.04%
Day's gap	-1.14%
Dollar volume	$505.7M
High price	$66.54
Low price	$65.00
Monthly RSI	59.72
Open price	$65.20
Position in 52-week range	99.35%
Premarket change	-0.53%
Premarket close	$65.95
Premarket price	$65.60
Previous close	$65.95
Price vs 150-day SMA	-0.26%
Price vs 20-day SMA	-4.89%
Price vs 200-day SMA	1.64%
Price vs 50-day SMA	-7.77%
Relative volume	0.71
RSI	38.44
Sharpe ratio	1.18
Sharpe ratio (3Y)	0.67
Sharpe ratio (5Y)	0.4
Sortino ratio	1.84
Sortino ratio (3Y)	1.09
Sortino ratio (5Y)	0.71
Volume	7.6M
Weekly RSI	49.75
YTD price change	30.4%
YTD total return	31.61%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.4B
Float percentage	99.33%
Shares change (QoQ)	-0.07%
Shares change (YoY)	-0.07%
Shares held by insiders	0.52%
Shares held by institutions	88.88%
Shares outstanding	1.4B
Short % of float	1.76%
Short % of shares	1.75%
Short ratio	2.2 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	209

Deeper analysis on FCX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this FCX report

What is the latest published FCX stock rating?

Freeport-McMoRan Inc. is shown with Sell in the latest published report, analyzed 2026-09-25. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full FCX analysis?

The full latest published report, analyzed 2026-09-25, lives at /stocks/FCX/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for FCX?

The latest published report analyzed 2026-09-25 gives FCX a fair value of USD 33 and a potential value of USD 43. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the FCX page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-25). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellFCX · Fair value $32.5-55.0%

Read full analysis →

Freeport-McMoRan Inc. (FCX)

Our latest published analysis: FCX rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · FCX

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All FCX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on FCX

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	7.5
Balance Sheet	7.5
Profitability	5.5
Revenue Growth	2.5
Risk Assessment	7.0
Competitive Moat	6.5
Earnings Quality	9.0
Capital Efficiency	6.5