Freeport-McMoRan - Public Comps and Valuation Multiples

Freeport-McMoRan Overview

About Freeport-McMoRan

Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world’s largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at the end of December 2024. We expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 650,000 ounces then due to falling production at Grasberg.

Founded

1987

HQ

Employees

28.5K+

Website

fcx.com

Sectors

Metals & Mining

Financials

LTM Revenue $25.0B

LTM EBITDA $9.2B

EV

$63.9B

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Freeport-McMoRan Financials

As of September 2025, Freeport-McMoRan reported last 12-month revenue of $25.0B and EBITDA of $9.2B.

In the same period, Freeport-McMoRan generated $9.1B in LTM gross profit and $2.0B in net income.

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Freeport-McMoRan P&L

In the most recent fiscal year, Freeport-McMoRan reported revenue of $25.5B and EBITDA of $9.5B.

Freeport-McMoRan expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$25.0B	XXX	$25.5B	XXX	XXX	XXX
Gross Profit	$9.1B	XXX	$7.7B	XXX	XXX	XXX
Gross Margin	36%	XXX	30%	XXX	XXX	XXX
EBITDA	$9.2B	XXX	$9.5B	XXX	XXX	XXX
EBITDA Margin	37%	XXX	37%	XXX	XXX	XXX
EBIT	$6.6B	XXX	$6.9B	XXX	XXX	XXX
EBIT Margin	26%	XXX	27%	XXX	XXX	XXX
Net Profit	$2.0B	XXX	$1.9B	XXX	XXX	XXX
Net Margin	8%	XXX	7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$5.0B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Freeport-McMoRan including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $25.0B. EBITDA for the last twelve months was $9.2B. In the most recent fiscal year, Freeport-McMoRan achieved $25.5B in revenue and $9.5B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$25.0B	Analyst estimates available to subscribers	$25.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$9.1B	Analyst estimates available to subscribers	$7.7B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	36.3% gross margin	Analyst estimates available to subscribers	30.1% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$9.2B	Analyst estimates available to subscribers	$9.5B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	36.6% EBITDA margin	Analyst estimates available to subscribers	37.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$6.6B	Analyst estimates available to subscribers	$6.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	26.2% EBIT margin	Analyst estimates available to subscribers	27.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$2.0B	Analyst estimates available to subscribers	$1.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	8.1% net profit margin	Analyst estimates available to subscribers	7.4% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$5.0B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Freeport-McMoRan

This financial data table provides comprehensive performance metrics for Freeport-McMoRan, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Freeport-McMoRan generated $25.0B in revenue over the last twelve months.
The company achieved $9.2B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $9.1B.
Net income over the last twelve months reached $2.0B.

Fiscal Year Performance

In the most recent fiscal year, Freeport-McMoRan reported $25.5B in total revenue.
Fiscal year EBITDA was $9.5B.
The company maintained a gross profit margin of 30.1% in the most recent fiscal year.
EBITDA margin for the fiscal year was 37.2%.
Net profit margin reached 7.4% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Freeport-McMoRan. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Freeport-McMoRan Stock Performance

Freeport-McMoRan has current market cap of $59.1B, and EV of $63.9B.

Market Cap Evolution

Freeport-McMoRan Stock Data

As of October 17, 2025, Freeport-McMoRan's stock price is $41.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$63.9B	$59.1B	XXX	XXX	XXX	XXX	$1.44

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Freeport-McMoRan Valuation Multiples

Freeport-McMoRan's trades at 2.5x EV/Revenue multiple, and 6.7x EV/EBITDA.

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Freeport-McMoRan Financial Valuation Multiples

As of October 17, 2025, Freeport-McMoRan has market cap of $59.1B and EV of $63.9B.

Equity research analysts estimate Freeport-McMoRan's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Freeport-McMoRan has a P/E ratio of 29.3x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$59.1B	XXX	$59.1B	XXX	XXX	XXX
EV (current)	$63.9B	XXX	$63.9B	XXX	XXX	XXX
EV/Revenue	2.6x	XXX	2.5x	XXX	XXX	XXX
EV/EBITDA	7.0x	XXX	6.7x	XXX	XXX	XXX
EV/EBIT	9.7x	XXX	9.3x	XXX	XXX	XXX
EV/Gross Profit	7.0x	XXX	n/a	XXX	XXX	XXX
P/E	29.3x	XXX	31.3x	XXX	XXX	XXX
EV/FCF	30.2x	XXX	27.2x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Freeport-McMoRan Margins & Growth Rates

Freeport-McMoRan's last 12 month revenue growth is 5%

Freeport-McMoRan's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $28K for the same period.

Freeport-McMoRan's rule of 40 is 43% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Freeport-McMoRan's rule of X is 50% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Freeport-McMoRan Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	5%	XXX	3%	XXX	XXX	XXX
EBITDA Margin	37%	XXX	37%	XXX	XXX	XXX
EBITDA Growth	13%	XXX	2%	XXX	XXX	XXX
Rule of 40	43%	XXX	43%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	50%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.9M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$28K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	3%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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