Cash flow Freeport-McMoRan Inc.

Equities

FCX

US35671D8570

Specialty Mining & Metals

Real-time Estimate Cboe BZX Other stock markets 20:31:22 17/09/2024 BST			5-day change	1st Jan Change
43.12 ^USD	+0.52%		+6.77%	+1.35%

09-12	BNP Paribas Exane Trims Price Target on Freeport-McMoRan to $61 From $63	MT
09-11	Transcript : Freeport-McMoRan Inc. Presents at Morgan Stanley?s 12th Annual Laguna Conference 2024, Sep-11-2024 08:45 AM

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Published financial data: FREEPORT-MCMORAN INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	14.4B	14.2B	22.84B	22.78B	22.86B
Total Revenues	14.4B	14.2B	22.84B	22.78B	22.86B
Cost of Goods Sold, Total	11.69B	9.92B	12.03B	13.07B	13.63B
Gross Profit	2.72B	4.27B	10.81B	9.71B	9.23B
Selling General & Admin Expenses, Total	414M	375M	376M	444M	520M
Exploration / Drilling Costs, Total	104M	42M	55M	115M	137M
Depreciation & Amortization - (IS)	1.41B	1.5B	2B	2.02B	2.07B
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses	105M	27M	91M	77M	319M
Other Operating Expenses, Total	2.04B	1.94B	2.52B	2.66B	3.04B
Operating Income	680M	2.33B	8.29B	7.06B	6.18B
Interest Expense, Total	-552M	-563M	-559M	-555M	-515M
Interest And Investment Income	-	-	-	136M	-
Net Interest Expenses	-552M	-563M	-559M	-419M	-515M
Income (Loss) On Equity Invest.	12M	12M	5M	31M	15M
Currency Exchange Gains (Loss)	24M	34M	66M	9M	20M
Other Non Operating Income (Expenses)	26M	46M	30M	10M	307M
EBT, Excl. Unusual Items	190M	1.86B	7.84B	6.69B	6.01B
Restructuring Charges	-	-258M	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Assets	417M	473M	80M	2M	-
Asset Writedown	-	-	-	-	-
Insurance Settlements	-	-	-	-	-
Legal Settlements	-74M	-167M	-251M	27M	-
Other Unusual Items	-215M	-101M	-	31M	10M
EBT, Incl. Unusual Items	318M	1.81B	7.66B	6.75B	6.02B
Income Tax Expense	510M	944M	2.3B	2.27B	2.27B
Earnings From Continuing Operations	-192M	865M	5.36B	4.48B	3.75B
Earnings Of Discontinued Operations	3M	-	-	-	-
Net Income to Company	-189M	865M	5.36B	4.48B	3.75B
Minority Interest	-50M	-266M	-1.06B	-1.01B	-1.9B
Net Income - (IS)	-239M	599M	4.31B	3.47B	1.85B
Preferred Dividend and Other Adjustments	3M	3M	7M	7M	6M
Net Income to Common Incl Extra Items	-242M	596M	4.3B	3.46B	1.84B
Net Income to Common Excl. Extra Items	-245M	596M	4.3B	3.46B	1.84B
Per Share Items
Net EPS - Basic	-0.17	0.41	2.93	2.4	1.28
Basic EPS - Continuing Operations	-0.17	0.41	2.93	2.4	1.28
Basic Weighted Average Shares Outstanding	1.45B	1.45B	1.47B	1.44B	1.43B
Net EPS - Diluted	-0.17	0.41	2.9	2.39	1.28
Diluted EPS - Continuing Operations	-0.17	0.41	2.9	2.39	1.28
Diluted Weighted Average Shares Outstanding	1.45B	1.46B	1.48B	1.45B	1.44B
Normalized Basic EPS	0.05	0.62	2.62	2.2	1.29
Normalized Diluted EPS	0.05	0.61	2.59	2.18	1.28
Dividend Per Share	0.2	-	0.38	0.6	0.6
Payout Ratio	-121.76	12.19	7.69	24.97	46.7
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	2.31B	4.06B	10.51B	9.32B	8.46B
EBITA	900M	2.57B	8.51B	7.3B	6.32B
EBIT	680M	2.33B	8.29B	7.06B	6.18B
EBITDAR	2.45B	4.18B	10.61B	9.45B	8.63B
Effective Tax Rate - (Ratio)	160.38	52.18	30	33.6	37.7
Current Domestic Taxes	20M	-52M	11M	-1M	1M
Current Foreign Taxes	462M	816M	2.46B	2.23B	2.09B
Total Current Taxes	482M	764M	2.47B	2.23B	2.09B
Deferred Domestic Taxes	-56M	-8M	188M	155M	53M
Deferred Foreign Taxes	101M	306M	23M	144M	320M
Total Deferred Taxes	45M	298M	211M	299M	373M
Normalized Net Income	68.75M	898M	3.84B	3.17B	1.85B
Interest Capitalized	149M	147M	72M	150M	267M
Interest on Long-Term Debt	623M	655M	634M	710M	782M
Non-Cash Pension Expense	53M	15M	-12M	25M	43M
Supplemental Operating Expense Items
Exploration/Drilling Costs	104M	42M	55M	115M	137M
Net Rental Expense, Total	134M	116M	104M	130M	174M
Imputed Operating Lease Interest Expense	70.84M	65.84M	53.28M	70.77M	105M
Imputed Operating Lease Depreciation	63.16M	50.16M	50.72M	59.23M	69.36M
Stock-Based Comp., COGS (Total)	15M	29M	34M	38M	45M
Stock-Based Comp., SG&A Exp. (Total)	48M	70M	64M	57M	64M
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	63M	99M	98M	95M	109M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.02B	3.66B	8.07B	8.15B	4.76B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	2.02B	3.66B	8.07B	8.15B	4.76B
Accounts Receivable, Total	741M	892M	1.17B	1.34B	1.21B
Other Receivables	426M	520M	574M	459M	455M
Total Receivables	1.17B	1.41B	1.74B	1.8B	1.66B
Inventory	4.07B	3.89B	4.5B	5.18B	6.06B
Restricted Cash	100M	97M	114M	111M	1.21B
Other Current Assets, Total	555M	244M	409M	381M	375M
Total Current Assets	7.92B	9.3B	14.83B	15.61B	14.06B
Gross Property Plant And Equipment	73.36B	74.88B	77.02B	80.9B	84.57B
Accumulated Depreciation	-43.77B	-45.06B	-46.67B	-48.27B	-49.27B
Net Property Plant And Equipment	29.58B	29.82B	30.34B	32.63B	35.3B
Long-term Investments	303M	295M	232M	262M	304M
Other Intangibles, Total	402M	401M	412M	416M	422M
Loans Receivable Long-Term	-	-	-	101M	233M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	2.6B	2.33B	2.2B	2.07B	2.19B
Total Assets	40.81B	42.14B	48.02B	51.09B	52.51B
Liabilities
Accounts Payable, Total	1.65B	1.47B	2.04B	2.7B	2.47B
Accrued Expenses, Total	1.01B	1.07B	1.06B	1.13B	1.04B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	5M	34M	372M	1.04B	766M
Current Portion of Leases	44M	38M	38M	38M	84M
Current Income Taxes Payable	119M	324M	1.54B	744M	786M
Unearned Revenue Current, Total	-	65M	191M	76M	161M
Other Current Liabilities	376M	410M	660M	623M	517M
Total Current Liabilities	3.21B	3.42B	5.89B	6.34B	5.82B
Long-Term Debt	9.82B	9.68B	9.08B	9.58B	8.66B
Long-Term Leases	204M	190M	281M	294M	347M
Pension & Other Post Retirement Benefits	1.32B	1.21B	845M	775M	704M
Deferred Tax Liability Non Current	4.21B	4.41B	4.23B	4.27B	4.45B
Other Non Current Liabilities	4.6B	4.57B	4.67B	4.96B	5.22B
Total Liabilities	23.36B	23.48B	25B	26.22B	25.2B
Common Stock, Total	158M	159M	160M	161M	162M
Additional Paid In Capital	25.83B	26.04B	25.88B	25.32B	24.64B
Retained Earnings	-12.28B	-11.68B	-7.38B	-3.91B	-2.06B
Treasury Stock	-3.73B	-3.76B	-4.29B	-5.7B	-5.77B
Comprehensive Income and Other	-676M	-583M	-388M	-320M	-274M
Total Common Equity	9.3B	10.17B	13.98B	15.56B	16.69B
Minority Interest	8.15B	8.49B	9.04B	9.32B	10.62B
Total Equity	17.45B	18.67B	23.02B	24.87B	27.31B
Total Liabilities And Equity	40.81B	42.14B	48.02B	51.09B	52.51B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.45B	1.46B	1.45B	1.43B	1.43B
ECS Total Common Shares Outstanding	1.45B	1.46B	1.46B	1.43B	1.44B
Book Value / Share	6.41	6.98	9.6	10.88	11.63
Tangible Book Value	8.9B	9.77B	13.57B	15.14B	16.27B
Tangible Book Value Per Share	6.13	6.7	9.31	10.59	11.34
Total Debt	10.07B	9.94B	9.77B	10.95B	9.85B
Net Debt	8.05B	6.28B	1.7B	2.81B	5.1B
Debt Equivalent of Unfunded Proj. Benefit Obligation	862M	763M	479M	411M	361M
Debt Equivalent Oper. Leases	1.07B	928M	832M	1.04B	1.39B
Minority Interest, Total (Incl. Fin. Div)	8.15B	8.49B	9.04B	9.32B	10.62B
Equity Method Investments, Total	80M	77M	26M	50M	123M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	3.13B	3.01B	3.41B	3.83B	4.1B
Inventories - Work In Process, Total	124M	174M	195M	221M	221M
Inventories - Finished Goods, Total	839M	745M	927M	1.17B	1.78B
Buildings, Total	8.44B	9.21B	9.41B	9.75B	10.16B
Machinery, Total	17.63B	18.73B	19B	19.55B	20.23B
Full Time Employees	27.5K	24.5K	24.7K	25.6K	27.2K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-239M	599M	4.31B	3.47B	1.85B
Depreciation & Amortization - CF	1.41B	1.5B	2B	2.02B	2.07B
Amortization of Goodwill and Intangible Assets - (CF)	220M	233M	216M	244M	139M
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	67M
Depreciation & Amortization, Total	1.63B	1.73B	2.21B	2.26B	2.27B
(Gain) Loss From Sale Of Asset	-417M	-473M	-80M	-2M	-
Asset Writedown & Restructuring Costs	-	32M	-	-	-
(Income) Loss On Equity Investments - (CF)	40M	-	-	-	-
Stock-Based Compensation (CF)	63M	99M	98M	95M	109M
Net Cash From Discontinued Operations	-3M	-	-	-	-
Other Operating Activities, Total	57M	366M	422M	843M	1.93B
Change In Accounts Receivable	119M	132M	-472M	56M	166M
Change In Inventories	259M	42M	-618M	-573M	-873M
Change In Accounts Payable	-60M	115M	495M	-	-161M
Change In Income Taxes	-29M	403M	1.45B	-999M	17M
Change in Other Net Operating Assets	60M	-27M	-101M	-12M	-29M
Cash from Operations	1.48B	3.02B	7.72B	5.14B	5.28B
Capital Expenditure	-2.65B	-1.96B	-2.12B	-3.47B	-4.82B
Sale of Property, Plant, and Equipment	252M	550M	50M	48M	27M
Cash Acquisitions	-	-	-33M	-	-
Divestitures	200M	-	150M	60M	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-36M	-65M	-129M
Other Investing Activities, Total	97M	147M	20M	-14M	-30M
Cash from Investing	-2.1B	-1.26B	-1.96B	-3.44B	-4.96B
Long-Term Debt Issued, Total	1.88B	3.53B	1.2B	5.74B	1.78B
Total Debt Issued	1.88B	3.53B	1.2B	5.74B	1.78B
Long-Term Debt Repaid, Total	-3.2B	-3.72B	-1.46B	-4.52B	-2.98B
Total Debt Repaid	-3.2B	-3.72B	-1.46B	-4.52B	-2.98B
Issuance of Common Stock	-	-	210M	125M	47M
Repurchase of Common Stock	-	-	-517M	-1.4B	-50M
Common Dividends Paid	-291M	-73M	-331M	-866M	-863M
Common & Preferred Stock Dividends Paid	-291M	-73M	-331M	-866M	-863M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	53M	138M	-442M	-700M	-585M
Cash from Financing	-1.56B	-128M	-1.34B	-1.62B	-2.65B
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-2.18B	1.62B	4.41B	76M	-2.33B
Supplemental Items
Cash Interest Paid	591M	472M	640M	417M	419M
Cash Income Tax Paid (Refund)	304M	132M	1.19B	3.05B	2.1B
Levered Free Cash Flow	-677M	1.41B	6.05B	2.03B	-1.04B
Unlevered Free Cash Flow	-332M	1.76B	6.4B	2.38B	-721M
Change In Net Working Capital	-200M	-434M	-1.02B	917M	2.14B
Net Debt Issued / Repaid	-1.32B	-193M	-260M	1.22B	-1.2B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.02	3.52	11.5	8.9	7.46
Return on Total Capital	1.5	5.2	16.88	12.85	10.59
Return On Equity %	-1.09	4.79	25.74	18.71	14.38
Return on Common Equity	-2.57	6.12	35.6	23.44	11.42
Margin Analysis
Gross Profit Margin %	18.85	30.1	47.33	42.63	40.38
SG&A Margin	2.87	2.64	1.65	1.95	2.28
EBITDA Margin %