Common-Size Balance Sheet: Assets
Quarterly Data
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Freeport-McMoRan Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Freeport-McMoRan Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The asset composition of the organization reflects a strategic shift from high liquidity toward increased capital intensity and higher inventory levels over the analyzed period. Total current assets peaked in the first half of 2022 at approximately 32% of total assets before declining to 23.95% by March 2026. Conversely, noncurrent assets have expanded, growing from 75.13% in March 2021 to 76.05% by March 2026.
- Liquidity and Cash Position
- A significant contraction in cash and cash equivalents is observed. This metric peaked at 18.94% in June 2022 and entered a consistent downward trend, reaching 6.35% by December 2025. The reduction in cash reserves is the primary driver behind the overall decrease in the proportion of current assets relative to the total balance sheet.
- Inventory and Working Capital
- Inventories have steadily increased as a percentage of total assets, rising from 9.50% in March 2021 to 12.61% in March 2026. This growth is supported by increases in both "Product" and "Materials and supplies, net," which suggests a build-up of finished goods and operational inputs. Trade accounts receivable remained relatively low and volatile, generally fluctuating between 1% and 3%.
- Fixed Asset Investment
- Property, plant, equipment, and mine development costs have maintained a dominant position in the asset structure. This category increased from 68.22% in March 2021 to a peak of 70.84% in September 2025, before settling at 69.85% in March 2026. This trend indicates sustained capital expenditure and investment in long-term production capacity.
- Other Asset Variations
- Recent periods show the emergence of specific non-recurring items. Restricted cash appeared in late 2023, peaking at 2.30% before declining to 0.48% by March 2026. Additionally, the first quarter of 2026 saw the introduction of a PT Freeport Indonesia mud rush incident insurance settlement receivable at 1.19% and long-term tax receivables at 1.41% of total assets.