Latest revenue
$6.23B
as of 2026-03-31
Latest net income
—
as of 2026-03-31
Net margin
—
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $89.11B
- Enterprise value
- $94.09B
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- 4.77×
- Dividend yield
- 1.0%
- 52-wk high
- $70.97
- 52-wk low
- $35.15
- Beta
- —
- Shares out
- 1.44B
5-year trend
What this company does
Freeport-McMoRan mines copper, gold, and molybdenum from large-scale operations in the U.S., South America, and Indonesia. Copper concentrate and cathode sales drive the bulk of its $20.3 billion in nine-month revenue, supplemented by gold byproduct credits from its Grasberg mine. The company is funneling heavy capital spending—nearly $2 billion year-to-date—into its Indonesian operations, including smelter ramp-up following a fire, while leveraging copper's structural demand from electrification.
Key risks
- Indonesia concentration: $1.93B of $3.49B YTD capex (55%) flows to Indonesia operations, exposing FCX to PT-FI smelter recovery, export licensing and resource-nationalism risk.
- Large minority leakage: noncontrolling interests captured $1.79B of $3.59B YTD net income (50%) and received $1.27B in distributions, diluting cash available to FCX shareholders.
- Environmental/ARO liabilities of $5.76B plus $8.92B long-term debt weigh on the balance sheet; YTD operating cash flow fell to $4.92B from $5.72B.
Profitability
Operating margin
25.2%
6.7%Leverage
Debt / equity
2.08×
2.0%Long-term debt / equity
0.47×
6.9%Debt / assets
67.5%
0.6%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $6.23B | +8.8% | — | — | — |
Q4 2025 2025-12-31 | $5.63B | -1.5% | — | — | — |
Q3 2025 2025-09-30 | $6.97B | +2.7% | — | — | — |
Q2 2025 2025-06-30 | $7.58B | +14.5% | — | — | — |
Q1 2025 2025-03-31 | $5.73B | -9.4% | — | — | — |
Q4 2024 2024-12-31 | $5.72B | — | — | — | — |
Q3 2024 2024-09-30 | $6.79B | +16.6% | — | — | — |
Q2 2024 2024-06-30 | $6.62B | +15.5% | — | — | — |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Metal Mining · SIC 1000
Your notes
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Insider activity
Insider buying
$0
Insider selling
$38.0M
Net activity
−$38.0M
Distinct insiders
5
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns FCX
Institutional value
$23.82B
Total shares held
412.5M
Distinct holders
686
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 93.4M | $5.49B | — | New |
| 2 | Fisher Asset Management, LLC | 65.1M | $3.83B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 23.6M | $1.39B | — | New |
| 4 | Bank of New York Mellon Corp | 19.0M | $1.12B | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 13.1M | $770.6M | — | New |
| 6 | Invesco Ltd. | 12.5M | $732.4M | — | New |
| 7 | UBS Group AG | 10.5M | $618.4M | — | New |
| 8 | Nuveen, LLC | 9.8M | $575.1M | — | New |
| 9 | Boston Partners | 8.8M | $518.6M | — | New |
| 10 | Legal & General Group Plc | 8.1M | $475.9M | — | New |
| 11 | VANGUARD FIDUCIARY TRUST CO | 8.1M | $475.4M | — | New |
| 12 | BNP PARIBAS FINANCIAL MARKETS | 5.2M | $306.4M | — | New |
| 13 | CITIGROUP INC | 4.4M | $258.3M | — | New |
| 14 | TD ASSET MANAGEMENT INC | 4.4M | $256.5M | — | New |
| 15 | DEUTSCHE BANK AG\ | 4.3M | $250.2M | — | New |
| 16 | WELLS FARGO & COMPANY/MN | 4.1M | $242.2M | — | New |
| 17 | BAILLIE GIFFORD & CO | 4.0M | $234.5M | — | New |
| 18 | Allspring Global Investments Holdings, LLC | 3.8M | $232.0M | — | New |
| 19 | National Pension Service | 3.9M | $226.7M | — | New |
| 20 | Sumitomo Mitsui Trust Group, Inc. | 3.4M | $198.9M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Operating cash flow fell to $4.92B from $5.72B YTD despite higher revenue—what's driving the working capital drag, particularly the $433M receivables build?
- 2
Indonesia capex of $1.93B YTD remains your largest spend; with the smelter fire recovery only $25M, what's the updated cost and timeline to full Manyar throughput?
- 3
NCI distributions of $1.27B now exceed common dividends of $649M—how should investors think about cash truly available to FCX shareholders going forward?