Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
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
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Freeport-McMoRan Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Freeport-McMoRan Inc., common-size consolidated income statement (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 common-size income statement reveals significant fluctuations in profitability and cost structure over the observed period from March 2021 to December 2025. Revenues are consistently represented as 100% by definition, allowing for a clear view of the proportional changes in other income statement items.
- Gross Profit
- Gross profit as a percentage of revenue demonstrates considerable volatility. It increased from 33.90% in March 2021 to a peak of 41.62% in September 2021, before declining to 22.07% in September 2022. A partial recovery occurred through 2023, followed by another decline to 18.05% in September 2025. This suggests sensitivity to production costs and commodity pricing.
- Cost of Sales
- Cost of sales exhibits an inverse relationship with gross profit. It decreased from 66.10% in March 2021 to a low of 58.38% in September 2021, coinciding with the peak in gross profit. However, it rose sharply to 77.93% in September 2022, and reached a high of 81.95% in September 2025, mirroring the decline in gross profit. Production and delivery costs, a significant component of cost of sales, show a similar pattern, increasing substantially in the latter part of the period.
- Operating Income
- Operating income follows the trends of gross profit and cost of sales. It peaked at 40.47% in September 2021, then experienced a substantial decrease to 19.23% in September 2022. While there were periods of recovery, operating income declined to 14.40% in September 2025, indicating increasing pressure on operational efficiency or external factors impacting revenue and costs.
- Operating Expenses
- Selling, general, and administrative expenses remained relatively stable as a percentage of revenue, generally fluctuating between 1.51% and 2.34% throughout the period. Exploration and research expenses showed a gradual increase, rising from 0.14% to 0.92% by September 2025. Environmental obligations and shutdown costs experienced significant volatility, peaking at 1.68% in June 2023, before decreasing to 0.37% in September 2025.
- Net Income
- Net income as a percentage of revenue mirrors the trends in operating income, with a peak of 28.32% in September 2021 and a decline to 10.03% in September 2025. The provision for income taxes generally ranged between 8.72% and 12.48% of revenue, with some fluctuations. Net income attributable to noncontrolling interests consistently represented a significant portion of net income, ranging from 2.82% to 10.90% of revenue, and generally increasing over time.
- Interest Expense & Other Items
- Interest expense, net, remained relatively consistent as a percentage of revenue, fluctuating between 1.64% and 3.00%. Other income (expense), net, exhibited significant volatility, swinging from negative values to positive values, potentially impacting net income in certain periods. The impact of these items, while present, appears less substantial than the core trends in gross profit and cost of sales.
Overall, the period demonstrates a cyclical pattern, with a strong performance in 2021 followed by a decline in 2022 and continued volatility through 2025. The significant fluctuations in cost of sales and gross profit suggest a strong correlation with commodity prices or production volumes. The increasing trend in exploration expenses and environmental obligations may indicate future investments or growing regulatory burdens.