Price to Sales (P/S)
since 2005
Calculation
Freeport-McMoRan Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 13, 2026 | 3.48 | = | 62.84 | ÷ | 18.03 | 18.03 | = | 25,915 | ÷ | 1,437,201,606 | |
| Feb 14, 2025 | 2.23 | = | 39.47 | ÷ | 17.71 | 17.71 | = | 25,455 | ÷ | 1,437,073,006 | |
| Feb 16, 2024 | 2.44 | = | 38.83 | ÷ | 15.93 | 15.93 | = | 22,855 | ÷ | 1,434,409,010 | |
| Feb 15, 2023 | 2.66 | = | 42.31 | ÷ | 15.92 | 15.92 | = | 22,780 | ÷ | 1,430,693,689 | |
| Feb 15, 2022 | 2.78 | = | 43.67 | ÷ | 15.70 | 15.70 | = | 22,845 | ÷ | 1,454,781,055 | |
| Feb 16, 2021 | 3.38 | = | 32.90 | ÷ | 9.73 | 9.73 | = | 14,198 | ÷ | 1,458,480,446 | |
| Feb 14, 2020 | 1.23 | = | 12.24 | ÷ | 9.93 | 9.93 | = | 14,402 | ÷ | 1,450,972,426 | |
| Feb 15, 2019 | 0.96 | = | 12.28 | ÷ | 12.86 | 12.86 | = | 18,628 | ÷ | 1,449,058,885 | |
| Feb 20, 2018 | 1.63 | = | 18.43 | ÷ | 11.33 | 11.33 | = | 16,403 | ÷ | 1,447,844,743 | |
| Feb 24, 2017 | 1.29 | = | 13.25 | ÷ | 10.26 | 10.26 | = | 14,830 | ÷ | 1,445,380,168 | |
| Feb 26, 2016 | 0.59 | = | 7.43 | ÷ | 12.68 | 12.68 | = | 15,877 | ÷ | 1,251,849,800 | |
| Feb 27, 2015 | 1.05 | = | 21.63 | ÷ | 20.62 | 20.62 | = | 21,438 | ÷ | 1,039,863,035 | |
| Feb 27, 2014 | 1.66 | = | 33.47 | ÷ | 20.15 | 20.15 | = | 20,921 | ÷ | 1,038,417,983 | |
| Feb 22, 2013 | 1.71 | = | 32.45 | ÷ | 18.97 | 18.97 | = | 18,010 | ÷ | 949,530,599 | |
| Feb 27, 2012 | 1.97 | = | 43.31 | ÷ | 22.02 | 22.02 | = | 20,880 | ÷ | 948,358,926 | |
| Feb 25, 2011 | 2.62 | = | 52.45 | ÷ | 20.05 | 20.05 | = | 18,982 | ÷ | 946,498,251 | |
| Feb 26, 2010 | 2.15 | = | 37.58 | ÷ | 17.47 | 17.47 | = | 15,040 | ÷ | 861,130,294 | |
| Feb 26, 2009 | 0.70 | = | 15.05 | ÷ | 21.61 | 21.61 | = | 17,796 | ÷ | 823,338,494 | |
| Feb 29, 2008 | 2.28 | = | 50.43 | ÷ | 22.13 | 22.13 | = | 16,939 | ÷ | 765,535,164 | |
| Feb 28, 2007 | 1.96 | = | 28.71 | ÷ | 14.68 | 14.68 | = | 5,791 | ÷ | 394,315,650 | |
| Mar 15, 2006 | 2.40 | = | 26.65 | ÷ | 11.09 | 11.09 | = | 4,179 | ÷ | 376,857,966 |
Based on: 10-K (reporting date: 2025-12-31), 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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Freeport-McMoRan Inc. Annual Report.
The price-to-sales (P/S) ratio exhibited considerable fluctuation between 2006 and 2026. Initial values indicated a ratio around 2.40, followed by a decrease to approximately 1.96. Subsequent years showed volatility, with a significant drop to 0.70 in 2009, coinciding with a period of lower share price and relatively stable sales per share.
- Overall Trend
- From 2010 through 2015, the P/S ratio demonstrated a recovery, peaking at 2.62 in 2011 before declining again to 0.59 in 2016. This period reflects a complex interplay between share price and sales per share. A notable increase occurred in 2021, reaching 3.38, driven primarily by a substantial rise in share price relative to sales per share. The ratio then moderated to around 2.66-2.78 in 2022 and 2023, before increasing again to 3.48 in 2026.
- Periods of Significant Change
- The period between 2008 and 2009 witnessed a dramatic decrease in the P/S ratio. This coincided with a substantial decline in the share price, while sales per share remained relatively stable. The subsequent recovery from 2010 to 2011 suggests renewed investor confidence or a market correction. The sharp increase in the ratio in 2021 is attributable to a more significant increase in share price than in sales per share.
- Recent Performance (2021-2026)
- The P/S ratio experienced a substantial increase from 2020 to 2021, moving from 3.38 to 2.78, and then remained relatively stable between 2.66 and 2.78 for the next two years. The final year observed, 2026, shows a further increase to 3.48, indicating a potentially increasing valuation relative to sales. This suggests that investors were willing to pay a higher premium for each dollar of sales in 2026 compared to prior years.
In summary, the P/S ratio has been subject to considerable variation over the analyzed period, influenced by fluctuations in both share price and sales per share. The most recent trend indicates a potential increase in valuation relative to sales, although further investigation would be required to determine the underlying drivers of this change.
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Comparison to Industry (Materials)
Freeport-McMoRan Inc., P/S, long-term trends, comparison to industry (materials)
| Freeport-McMoRan Inc. | Materials | |
|---|---|---|
| Feb 13, 2026 | 3.48 | 4.96 |
| Feb 14, 2025 | 2.23 | 4.45 |
| Feb 16, 2024 | 2.44 | 4.47 |
| Feb 15, 2023 | 2.66 | 3.70 |
| Feb 15, 2022 | 2.78 | 3.83 |
| Feb 16, 2021 | 3.38 | 4.08 |
| Feb 14, 2020 | 1.23 | 2.91 |
| Feb 15, 2019 | 0.96 | 2.81 |
| Feb 20, 2018 | 1.63 | 2.50 |
| Feb 24, 2017 | 1.29 | 2.22 |
| Feb 26, 2016 | 0.59 | 1.64 |
| Feb 27, 2015 | 1.05 | 1.94 |
| Feb 27, 2014 | 1.66 | 2.14 |
| Feb 22, 2013 | 1.71 | 2.08 |
| Feb 27, 2012 | 1.97 | 2.06 |
| Feb 25, 2011 | 2.62 | 2.38 |
| Feb 26, 2010 | 2.15 | 2.02 |
| Feb 26, 2009 | 0.70 | 0.98 |
| Feb 29, 2008 | 2.28 | 2.08 |
| Feb 28, 2007 | 1.96 | 1.83 |
| Mar 15, 2006 | 2.40 | 1.77 |
Based on: 10-K (reporting date: 2025-12-31), 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).