Debt to Equity
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Calculation
Freeport-McMoRan Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2024 | = | ÷ | |||
| Dec 31, 2023 | = | ÷ | |||
| Dec 31, 2022 | = | ÷ | |||
| Dec 31, 2021 | = | ÷ | |||
| Dec 31, 2020 | = | ÷ | |||
| Dec 31, 2019 | = | ÷ | |||
| Dec 31, 2018 | = | ÷ | |||
| Dec 31, 2017 | = | ÷ | |||
| Dec 31, 2016 | = | ÷ | |||
| Dec 31, 2015 | = | ÷ | |||
| Dec 31, 2014 | = | ÷ | |||
| Dec 31, 2013 | = | ÷ | |||
| Dec 31, 2012 | = | ÷ | |||
| Dec 31, 2011 | = | ÷ | |||
| Dec 31, 2010 | = | ÷ | |||
| Dec 31, 2009 | = | ÷ | |||
| Dec 31, 2008 | = | ÷ | |||
| Dec 31, 2007 | = | ÷ | |||
| Dec 31, 2006 | = | ÷ | |||
| Dec 31, 2005 | = | ÷ |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial data reveals notable fluctuations in total debt and stockholders’ equity over the analyzed period, significantly impacting the company’s leverage as measured by the debt to equity ratio.
- Total Debt
- The total debt experienced substantial volatility. Initially, it started at a moderate level and saw a sharp increase in 2007 and 2008, peaking at 7,351 million US dollars. This was followed by a decline reaching a low around 2011 and 2012. Subsequently, there was a pronounced surge reaching the highest point at 20,706 million US dollars in 2013. Post-2013, total debt declined considerably and exhibited a generally downward trend, falling below 10,000 million US dollars in recent years, with a slight rise observed in 2022 before decreasing again.
- Stockholders’ Equity
- Stockholders’ equity showed significant growth and contractions coinciding with changes in debt levels. It started relatively low, surged dramatically to a peak in 2007, then declined sharply in 2008. After this, equity rebounded strongly, fluctuating upward and reaching high levels above 17,000 million US dollars toward the end of the period. There was a visible dip in equity around 2015 and 2016, followed by a recovery and steady growth through the most recent years.
- Debt to Equity Ratio
- The debt to equity ratio indicates general improvements in leverage management. It showed an overall rising trend until 2008, peaking at 1.27, reflecting increased reliance on debt. Following this, the ratio dropped significantly, reaching a low of around 0.2 in 2012, suggesting improved financial stability. However, 2013 and 2014 saw a sharp increase in leverage with ratios above 2.5, correlating with high debt levels and lower equity. From 2015 onward, the ratio steadily declined, falling below 0.6 in the most recent periods, which indicates reduced financial risk and stronger equity support relative to debt.
Overall, the company experienced periods of increased financial risk due to elevated debt levels, particularly around 2007-2008 and 2013-2014. Nevertheless, in the latter years, the capital structure showed significant improvement with decreasing leverage ratios and growing equity, suggesting a corrective approach towards financial prudence and stabilization. This trend points to enhanced balance sheet strength and reduced dependence on debt financing through the latest period.
Comparison to Industry (Materials)
Freeport-McMoRan Inc., debt to equity, long-term trends, comparison to industry (materials)
| Freeport-McMoRan Inc. | Materials | |
|---|---|---|
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 | ||
| Dec 31, 2020 | ||
| Dec 31, 2019 | ||
| Dec 31, 2018 | ||
| Dec 31, 2017 | ||
| Dec 31, 2016 | ||
| Dec 31, 2015 | ||
| Dec 31, 2014 | ||
| Dec 31, 2013 | ||
| Dec 31, 2012 | ||
| Dec 31, 2011 | ||
| Dec 31, 2010 | ||
| Dec 31, 2009 | ||
| Dec 31, 2008 | ||
| Dec 31, 2007 | ||
| Dec 31, 2006 | ||
| Dec 31, 2005 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).