Common-Size Income Statement
Quarterly Data
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- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Freeport-McMoRan Inc., common-size consolidated income statement (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenues and Cost Trends
- Revenues remained constant as a baseline at 100% throughout all reported quarters, establishing a consistent reference for expense and profit measurements. The production and delivery costs displayed a notable downward trend from -98.89% in March 2020 to roughly between -47.71% and -65.7% in subsequent periods, indicating a relative reduction in cost intensity after the early 2020 peak. However, fluctuations persist, with costs rising again after mid-2021, demonstrating variability likely influenced by operational changes or commodity pricing. Depreciation, depletion, and amortization expenses show a moderate decline from around -12.19% to roughly -7% to -9% in most recent quarters, suggesting improvements in asset utilization or changes in the asset base.
- Gross Profit and Operating Income
- Gross profit margin exhibited a significant recovery and strengthening after early 2020 losses, climbing from a negative -11.08% to generally positive levels around 20% to 40% in subsequent periods, with sporadic volatility. This improvement aligns with the reduction in cost of sales relative to revenues. Operating income trends mirror this positive trajectory, improving from a substantial loss (-16.9%) in the first quarter of 2020 to consistent double-digit gains thereafter, peaking around 40% during 2021 and settling around 20% to 30% more recently, reflecting enhanced operating efficiency and profitability.
- Expenses Outside of Cost of Sales
- Selling, general, and administrative expenses remained relatively stable throughout the timeline, mostly fluctuating between -1.5% and -2.7%, indicating consistent overhead costs in relation to revenues. Exploration and research costs stayed low but showed slight increases and some volatility, generally staying below -1%, suggesting a controlled and modest investment in future operations. Environmental obligations and shutdown costs exhibited irregular spikes, peaking sharply around -2.25% in late 2020 and again showing marked variability through the following quarters, hinting at episodic charges or remediation activities. These expenses reflect sporadic impacts on operating costs but do not present a clear long-term trend.
- Non-Operating Items and Debt Expenses
- Interest expense showed a steady decline over the years, starting near -4.54% of revenues in early 2020 and falling to about -1.22% in later periods, indicating a reduction in net interest burden possibly due to debt repayment or refinancing. Gains or losses on sales of assets and early extinguishment of debt were episodic and relatively minor contributors to income, with occasional positive gains notably in mid-2020 and 2022. Other income and expense items displayed mixed results with moderate positive contributions in recent years, indicating some ancillary income streams or expense recoveries.
- Income Before Taxes, Tax Provision, and Net Income
- Income before income taxes and equity showed a recovery from heavy losses in early 2020 (-21.87%) to consistently positive and improving ratios between approximately 18% to 41% through 2024, with some volatility. The provision for income taxes generally reflected a negative impact consistent with profitability, fluctuating mostly between -6% to -13%, indicating tax expense levels cooperating with income growth. Net income trends closely follow the operating and pre-tax income improvements, recovering from a significant loss (-19.62%) in the first quarter of 2020 to positive values ranging approximately from 12% to 28% in later years, reflecting the operational turnaround and profitability enhancement. Net income attributable to common stockholders also improved, albeit with more variability and some declining margins in recent quarters, suggesting impacts from noncontrolling interests and other adjustments.
- Noncontrolling Interests Impact
- Net income attributable to noncontrolling interests consistently demonstrated a negative proportional relationship with revenues after early 2020, increasing in absolute negative terms over time from about -2.32% to peaks near -10.9%, reducing the net income available to common stockholders. This indicates an increasing share of profits or losses attributed to minority stakeholders, which affects earnings retention and distributable profits.