Freeport-McMoRan Inc. (NYSE:FCX)

The financial data reveals considerable fluctuations in the key performance indicators over the observed periods. Notably, the share price exhibited substantial volatility, with peaks and troughs reflecting underlying business and market conditions.

Share Price

The share price began at $26.65 in early 2006, rising to a notable peak of $50.43 in early 2008 before experiencing a sharp decline to $15.05 in early 2009. Following this downturn, the price showed varying movements, including a moderate recovery to $52.45 in 2011 and subsequent decreases fluctuating around the mid-twenties and teens through 2016. From 2017 onward, the share price generally trended upward, reaching above $40 during 2021 and 2022, before stabilizing around the high $30s to near $40 by 2025. This pattern indicates sensitivity to external factors and possibly cyclical industry challenges.

Operating Profit per Share (OPPS)

Operating profit per share demonstrated marked volatility, with values ranging from positive peaks of $9.64 in 2012 to significant negative values, including -$15.44 in 2009 and -$10.69 in 2016. After 2016, a recovery pattern emerges, with positive OPPS values rebounding steadily to $5.75 in 2022 before slightly declining but maintaining positive figures through 2025. This suggests that operating profitability faced interim challenges, likely due to market or operational pressures, but exhibited resilience in later years.

Price to Operating Profit Ratio (P/OP)

The P/OP ratio showed notable irregularity. Initial values ranged between approximately 3.95 and 6.5 from 2006 to 2014, demonstrating moderate valuation multiples relative to operating profit. An extreme outlier occurred in 2015 with a ratio soaring to 231.88, which correlates with the operating profit per share nearly nullifying to 0.09 in that year, indicating distorted valuation due to minimal profitability. Post-2015, the ratio normalized but remained volatile, fluctuating between approximately 3.74 and 19.69, reflecting shifts in investor sentiment and profitability expectations. The ratio generally settled in the 7 to 9 range by the latest years, indicating a stabilized relationship between share price and operating earnings.

Overall, the data portrays a company experiencing significant earnings volatility impacting investor valuation metrics and share price performance. Periods of negative operating results drove sharp declines in market price and elevated P/OP ratios, while recoveries in profit contributed to price appreciation and more balanced valuation multiples. The trends suggest sensitivity to economic cycles or commodity markets, with gradual normalization in recent years indicating improving stability in core operations and market perception.