Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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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., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Total assets exhibit a consistent long-term growth trajectory, increasing from 43.6 billion US dollars in March 2021 to 58.8 billion US dollars by March 2026. This expansion is primarily driven by a steady rise in noncurrent assets, which grew from 32.8 billion US dollars to 44.7 billion US dollars over the analyzed period, while current assets remained relatively range-bound after an initial peak in mid-2022.
- Liquidity and Cash Position
- Cash and cash equivalents experienced a significant surge between March 2021 and June 2022, peaking at 9.5 billion US dollars. However, a sustained downward trend followed, with balances declining to 3.7 billion US dollars by March 2026. This reduction in liquid cash is partially offset by the emergence of restricted cash and cash equivalents starting in late 2023, although these balances remained modest, fluctuating between 230 million and 1.2 billion US dollars.
- Fixed Asset Investment
- Property, plant, equipment, and mine development costs represent the largest component of the balance sheet and show uninterrupted growth. This line item increased from 29.8 billion US dollars in March 2021 to 41.1 billion US dollars in March 2026. The consistent quarterly increments suggest a sustained capital expenditure program focused on infrastructure and mine development.
- Inventory Trends
- Inventories have shown a strong upward trend, rising from 4.1 billion US dollars in March 2021 to 7.4 billion US dollars by March 2026. This growth is underpinned by increases in product inventories and materials and supplies. Specifically, product inventories grew from 1.5 billion US dollars to 3.0 billion US dollars, indicating either an increase in production volume or a strategic accumulation of finished goods.
- Receivables and Other Assets
- Trade accounts receivable have fluctuated throughout the period, ending at 681 million US dollars in March 2026, significantly lower than the 1.5 billion US dollar peak observed in March 2022. Other assets have remained relatively stable, though the balance sheet reflects the introduction of specific long-term items in the final quarters, including long-term tax receivables of 832 million US dollars and a PT Freeport Indonesia mud rush incident insurance settlement receivable of 699 million US dollars as of March 2026.
The overall shift in asset composition indicates a transition from a high-liquidity position in 2021 and 2022 toward a more capital-intensive structure characterized by higher investment in mine development and increased inventory holdings.