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FREEPORT-MCMORAN INCFCX

Sector
Other
Industry
Metal Mining
Exchange
NYSE

Stock Price $FCX

Latest filings

You are here#4 of 15 in Materials by market cap

Filing record · 2016–202610-K1210-Q328-K150

FCX filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 150 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’16Dec ’16
  2. Material agreement8-K · May ’19May ’19
  3. Leadership change8-K · Aug ’21Aug ’21
  4. Leadership change8-K · Jun ’25Jun ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2021
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  15. $25.91B
YoY changeLargest recent move+60.9%in FY21Latest +3.0%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All FCX Financial Metrics60 metrics

Income Statement15

Balance Sheet27

Cash Flow13

Per Share5

02—Overview

FREEPORT-MCMORAN INC Financial Overview 2021–2025

Updated Jul 10, 2026

Despite a catastrophic mud rush that slashed annual gold production from 1,880 thousand ounces to 956 thousand ounces, Freeport-McMoRan generated $25.9 billiona in FY2025 revenue. The company's underlying investment appeal rests on its ability to leverage aggressively rising commodity prices to offset acute operational disruptions and intensive capital outlays. Highlighting this pricing power, average realized copper prices climbed from $4.23 per pound in FY2021 to $4.75 per pound in FY2025. This tailwind cushioned the blow of consolidated copper production dropping to 3,383 million pounds in FY2025 following the Grasberg mine suspension. Surging gold prices—up 42% to $3,423 per ounce in FY2025—further stabilized operating cash flows even as output volumes cratered.

To secure long-term capacity, Freeport continues to funnel capital into PT Freeport Indonesia, absorbing temporary setbacks like a $100 millionb smelter fire repair while projecting $4.3 billion in overall FY2026 capital expenditures. The balance sheet absorbed these shocks efficiently, retaining $2.3 billion in net debt (excluding downstream processing facilities) at the close of FY2025. Market sentiment ultimately looked past the near-term volume hits to the company's estimated recoverable base of 112.3 billion pounds of proven and probable copper reserves, with the stock closing at $50.79 per share at the end of FY2025.

Recent Developments (Q4 2025 and Q1 2026)

Freeport-McMoRan secured a landmark Memorandum of Understanding with the Indonesian government in Q1 2026, paving the way for a life-of-resource extension at the Grasberg district beyond 2041. The company also fortified its liquidity via a new $3.0 billionc revolving credit facility maturing in May 2031. Financially, Q1 2026 revenue grew to $6.23 billion from $5.73 billion year-over-year. Net income surged to $881 million, or $0.61 per share, up from $352 million a year earlier, largely boosted by a $700 million insurance settlement.

Bulls will highlight the robust capital returns, evidenced by repurchasing 1.7 million shares for $93 milliond during the quarter. Conversely, bears remain concerned that Grasberg underground production is currently limited to 60% of capacity due to ore loading system modifications. Trading at 21.3x earnings as of May 8, 2026, the stock's valuation reflects peak commodity pricing optimism rather than normalized operational output.

What to watch: progress on Grasberg modifications aiming for full capacity by late 2027; execution of leaching innovations targeting 300 million pounds of new copper production in 2026

03—Filings

Recent SEC Filings

  1. 8-KFREEPORT-MCMORAN INC 8-K Report, Financial Results (Oct 2, 2026)Freeport-McMoRan (FCX) issued a third-quarter 2026 operational update on October 2, 2026, furnished under Items 2.02 and 7.01. Consolidated copper production was about 830 million pounds, in line with expectations, and gold production was about 230 thousand ounces, also in line. However, copper sales are expected to be about 750 million pounds, matching the July estimate, while gold sales are expected to be about 100 thousand ounces, below the July estimate, because roughly 60 thousand ounces of refined gold were deferred into fourth-quarter 2026 due to sales timing at PT Freeport Indonesia (PTFI). Unit net cash costs for the quarter are now expected to be about 5% above the July estimate of $2.00 per pound, mainly because deferred gold sales reduced by-product credits. Realized copper prices are expected to exceed $6.50 per pound. U.S. operations ran below plan due to localized flooding, power outages and strong winds, while Indonesia faced milling challenges from dry weather that management says have had limited impact so far. The Grasberg Block Cave recovery is progressing: mill throughput averaged about 140,000 metric tons of ore per day, roughly 67% of pre-September 2025 normalized rates. The PTFI smelter restarted in late August 2026, and management reiterated its targets of 80% of capacity by mid-2027 and near full capacity by year-end 2027. Management also highlighted growth plans, including a Bagdad expansion decision targeted by year-end 2026 and ongoing regulatory work on the El Abra expansion. Third-quarter 2026 earnings are scheduled for October 27, 2026.
  2. 8-KFREEPORT-MCMORAN INC 8-K Report, Corporate Update (Sep 8, 2026)Freeport-McMoRan Inc. (FCX) announced a significant amendment and restatement of its 48.76%-owned subsidiary, PT Freeport Indonesia's (PTFI), $1.75 billion senior unsecured revolving credit facility. The primary benefit for investors is the extension of the facility's maturity date from November 2028 to September 2031. This extended runway provides greater financial flexibility and stability for PTFI's operations, which are crucial to FCX's overall performance and profitability. The amendment underscores PTFI's ongoing access to capital and its ability to secure favorable financing terms.
  3. 8-KFREEPORT-MCMORAN INC 8-K Report, Financial Results (Jul 23, 2026)Freeport-McMoRan (FCX) reported second-quarter 2026 net income attributable to common stock of $984 million ($0.68 per diluted share), or $1.1 billion ($0.74 per share) on an adjusted basis after $96 million of after-tax net charges, mostly tied to idle facility and restoration costs from PTFI's September 2025 mud rush incident. Consolidated copper sales were 710 million pounds, above the April estimate of 690 million, while gold sales of 123 thousand ounces came in below the 140 thousand estimate. Average realized prices were $6.17/lb copper and $4,520/oz gold, and unit net cash costs were $1.97/lb, favorable to the April estimate of $2.24/lb. Operating cash flow was $2.0 billion after $0.6 billion of working capital uses, and this quarter included $0.7 billion of PTFI insurance proceeds. The Grasberg Block Cave ramp-up is described as on schedule, with planned operating rates achieved in Q2 and PTFI production expected at roughly 65% in 2H26, 80% by mid-2027 and near full capacity by year-end 2027. Full-year 2026 guidance calls for 3.1 billion pounds of copper sales, 650 thousand ounces of gold, and unit net cash costs of $1.90/lb, with capex of $4.3 billion, of which $3.0 billion is for major mining projects. Operating cash flow is expected to be about $8.3 billion, assuming $6.00/lb copper for the second half. Net debt excluding PTFI downstream debt was $2.1 billion at June 30, and FCX repurchased shares and raised its Cerro Verde stake to 55.66%. The company also advanced its growth pipeline. A potential Bagdad expansion, which would add 200 to 250 million pounds of copper per year, now carries an estimated capex about 30% above the 2023 estimate of $3.5 billion, and a potential investment decision is targeted for 2H26. An El Abra expansion, with environmental impact study submitted in March 2026, could add over 700 million pounds per year. The Indonesian long-term operating rights MOU and the IUPK extension application were submitted, though the license process is not complete.
  4. 8-KFREEPORT-MCMORAN INC 8-K Report, Shareholder Vote Results (Jun 10, 2026)Freeport-McMoRan Inc. (FCX) has filed an 8-K report detailing the outcomes of its 2026 Annual Meeting of Stockholders, held on June 10, 2026. The meeting saw strong support for the company's slate of directors, with all eleven nominees being elected. Additionally, stockholders provided advisory approval for the compensation of named executive officers and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2026. The report indicates a substantial portion of outstanding shares were represented, highlighting active shareholder engagement. Notably, the Board of Directors has been reduced in size from 12 to 11 members following the prior announced departure of Robert W. Dudley. The overwhelming majority of votes cast in favor of each proposal demonstrates continued investor confidence in the company's leadership and governance structure. These results are critical for understanding the current sentiment and direction of FCX from its shareholder base.
  5. 8-KFREEPORT-MCMORAN INC 8-K Report, Material Agreement (May 20, 2026)Freeport-McMoRan Inc. (FCX) has entered into a new $3.0 billion senior unsecured revolving credit facility, maturing in May 2031. This facility replaces a prior agreement and maintains similar terms, including a $500 million borrowing limit for its subsidiary PT Freeport Indonesia (PTFI) and a $1.5 billion sublimit for letters of credit. The new facility provides crucial liquidity and operational flexibility for FCX and its key subsidiary. Importantly, the credit agreement includes a financial covenant requiring FCX to maintain a total leverage ratio not exceeding 3.75 to 1.00. This covenant, along with other customary restrictions on subsidiary indebtedness and asset transactions, will be key for investors to monitor. The company had no outstanding borrowings and minimal letters of credit under the prior facility, which have been rolled over to the new agreement, indicating a smooth transition and a continued strong liquidity position.
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04—See also

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