Common-Size Balance Sheet: Assets
Quarterly Data
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Freeport-McMoRan Inc. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Net Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Freeport-McMoRan Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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 composition of assets for the analyzed entity demonstrates several notable shifts over the period from March 2021 to December 2025. Current assets, as a percentage of total assets, initially increased from 24.87% to a peak of 32.29% in June 2022, before generally declining to 23.71% by December 2025. Within current assets, cash and cash equivalents experienced a substantial rise from 10.49% in March 2021 to 18.94% in June 2022, followed by a consistent decrease to 6.57% in December 2025. Inventories also exhibited an increasing trend, rising from 9.50% to 12.88% between March 2021 and December 2023, before decreasing slightly to 12.88% in December 2025. Non-current assets generally comprised the majority of the asset base, fluctuating between approximately 67.71% and 76.29% over the observed period.
- Cash Position
- The proportion of assets held as cash and cash equivalents demonstrated a significant increase through the first half of 2022, potentially indicating a period of liquidity accumulation. The subsequent decline suggests a deployment of cash into other assets or operational activities. The decrease in cash holdings in the latter part of the period may also reflect increased capital expenditure or dividend payments.
- Inventory Management
- The upward trend in inventories, particularly between 2021 and 2023, could indicate increased production levels, anticipated demand, or potential challenges in inventory turnover. The slight decrease in the most recent periods suggests a possible stabilization or improved management of inventory levels.
- Property, Plant, and Equipment (PP&E)
- PP&E and mine development costs consistently represented the largest portion of the asset base, generally ranging between 62.26% and 70.22%. The increase in PP&E as a percentage of total assets towards the end of the period, peaking at 75.76% in December 2024, suggests significant investment in long-term assets, potentially related to mine expansion or development projects.
- Receivables
- Trade accounts receivable fluctuated throughout the period, with a general trend of increasing from 2.42% in June 2021 to 2.76% in March 2023, then decreasing to 1.68% in December 2025. Value added and other tax receivables also showed some variability, with a peak of 1.37% in March 2023 and a decrease to 1.18% in September 2023, before increasing to 1.39% in December 2025. These fluctuations may be linked to changes in sales terms, collection periods, or tax regulations.
- Long-Term Assets
- Long-term mill and leach stockpiles remained relatively stable, representing between 2.23% and 3.38% of total assets. The emergence of long-term tax receivables in the later periods, reaching 1.39% in December 2025, indicates a potential deferral of tax benefits or changes in tax asset recognition policies.
Overall, the asset composition reflects a dynamic balance between current and non-current assets, with a notable shift towards increased investment in long-term assets, particularly PP&E, in the later periods. The fluctuations in cash holdings and inventory levels suggest active management of working capital, while changes in receivables may be influenced by sales and collection activities.