Freeport-McMoran Copper & Gold (FCX) financial statements
Freeport-McMoran Copper & Gold reported revenue of $25.9B in fiscal 2025, up 6.4% a year over 9 years.
Net income was $2.2B and the operating margin 25.2%, against -18.4% in 2016.
Free cash flow was $1.1B, and the company returned $865M in dividends and $107M in net buybacks.
The diluted share count rose 9% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Freeport-McMoran Copper & Gold's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.8B | $16.4B | $18.6B | $14.4B | $14.2B | $22.8B | $22.8B | $22.9B | $25.5B | $25.9B |
| Cost of revenue | $17.5B | $12.0B | $13.5B | $13.1B | $11.7B | $14.0B | $15.1B | $15.7B | $17.8B | $18.6B |
| Gross profit | -$2.7B | $4.4B | $5.2B | $1.3B | $2.5B | $8.8B | $7.7B | $7.2B | $7.7B | $7.3B |
| Selling, general and admin | $597M | $477M | $422M | $394M | $370M | $383M | $420M | $479M | $513M | $545M |
| Operating income | -$2.7B | $3.7B | $4.8B | $1.1B | $2.4B | $8.4B | $7.0B | $6.2B | $6.9B | $6.5B |
| Pre-tax income | -$3.5B | $2.9B | $3.9B | $306M | $1.8B | $7.7B | $6.7B | $6.0B | $6.9B | $6.4B |
| Income tax | $371M | $883M | $991M | $510M | $944M | $2.3B | $2.3B | $2.3B | $2.5B | $2.2B |
| Net income | -$4.2B | $1.8B | $2.6B | -$239M | $599M | $4.3B | $3.5B | $1.8B | $1.9B | $2.2B |
| EPS (diluted) | -$3.16 | $1.25 | $1.78 | -$0.17 | $0.41 | $2.90 | — | — | — | — |
| Diluted shares | 1.32B | 1.45B | 1.46B | 1.45B | 1.46B | 1.48B | 1.45B | 1.44B | 1.45B | 1.44B |
| Gross margin | -18.2% | 27.0% | 27.7% | 8.9% | 17.9% | 38.6% | 33.8% | 31.3% | 30.1% | 28.2% |
| Operating margin | -18.4% | 22.5% | 25.5% | 7.6% | 17.2% | 36.6% | 30.9% | 27.2% | 27.0% | 25.2% |
| Net margin | -28.0% | 11.1% | 14.0% | -1.7% | 4.2% | 18.8% | 15.2% | 8.1% | 7.4% | 8.5% |
Balance sheet
Fiscal years, from Freeport-McMoran Copper & Gold's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $4.2B | $4.5B | $4.2B | $2.0B | $3.7B | $8.1B | $8.1B | $4.8B | $3.9B | $3.8B |
| Receivables | $1.1B | $1.3B | $829M | $741M | $892M | $1.2B | $1.3B | $1.2B | $578M | $977M |
| Total current assets | $10.4B | $10.6B | $10.5B | $7.9B | $9.3B | $14.8B | $15.6B | $14.1B | $13.3B | $13.8B |
| Property, plant and equipment | $23.2B | $23.0B | $28.0B | $29.6B | $29.8B | $30.3B | $32.6B | $35.3B | $38.5B | $40.7B |
| Total assets | $37.3B | $37.3B | $42.2B | $40.8B | $42.1B | $48.0B | $51.1B | $52.5B | $54.8B | $58.2B |
| Total current liabilities | $4.3B | $4.9B | $3.3B | $3.2B | $3.4B | $5.9B | $6.3B | $5.8B | $5.5B | $6.0B |
| Long-term debt | $14.8B | $11.7B | $11.1B | $9.8B | $9.7B | $9.1B | $9.6B | $8.7B | $8.9B | $8.9B |
| Total liabilities | $28.1B | $26.0B | $24.3B | $23.4B | $23.5B | $25.0B | $26.2B | $25.2B | $26.1B | $27.4B |
| Shareholders' equity | $6.1B | $8.0B | $9.8B | $9.3B | $10.2B | $14.0B | $15.6B | $16.7B | $17.6B | $18.9B |
| Net debt | $11.8B | $8.6B | $6.9B | $7.8B | $6.1B | $1.4B | $2.5B | $4.7B | $5.0B | $5.6B |
Cash flow
Fiscal years, from Freeport-McMoran Copper & Gold's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.7B | $4.7B | $3.9B | $1.5B | $3.0B | $7.7B | $5.1B | $5.3B | $7.2B | $5.6B |
| Capital spending | $2.8B | $1.4B | $2.0B | $2.7B | $2.0B | $2.1B | $3.5B | $4.8B | $4.8B | $4.5B |
| Free cash flow | $924M | $3.3B | $1.9B | -$1.2B | $1.1B | $5.6B | $1.7B | $455M | $2.4B | $1.1B |
| Stock-based compensation | $86M | $71M | $76M | $63M | $99M | $98M | $95M | $109M | $109M | $121M |
| Dividends paid | $6M | $2M | $218M | $291M | $73M | $331M | $866M | $863M | $865M | $865M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$488M | -$1.3B | $0 | -$59M | -$107M |
| Net borrowing | -$3.9B | -$2.9B | -$2.1B | -$1.3B | -$193M | -$260M | $1.2B | -$1.2B | -$480M | $418M |
| Free cash flow margin | 6.2% | 19.9% | 10.2% | -8.1% | 7.4% | 24.5% | 7.3% | 2.0% | 9.2% | 4.3% |
| Dividends per share | $0.00 | $0.00 | $0.15 | $0.20 | $0.05 | $0.22 | $0.60 | $0.60 | $0.60 | $0.60 |
Questions
What was Freeport-McMoran Copper & Gold's revenue in 2025?
$25.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Freeport-McMoran Copper & Gold generate?
$1.1B in fiscal 2025 (operating cash flow minus capital spending).
From Freeport-McMoran Copper & Gold's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.