Analysis of Geographic Areas
Freeport-McMoRan Inc. operates in 4 regions: Indonesia; U.S.; Chile; and Other.
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Area Asset Turnover
Freeport-McMoRan Inc., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Indonesia | |||||
| U.S. | |||||
| Chile | |||||
| Other |
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).
- Indonesia
- The asset turnover ratio for Indonesia experienced an initial increase from 0.11 in 2020 to 0.19 in 2021, indicating improved asset utilization during that period. However, from 2021 onwards, the ratio declined sharply to 0.17 in 2022 and then further dropped significantly to 0.04 by 2023, slightly recovering to 0.05 in 2024. This pattern suggests a notable reduction in efficiency in asset usage within the Indonesian segment over the most recent years.
- U.S.
- The U.S. geographic area showed a generally high asset turnover ratio, reflecting strong asset utilization compared to other regions. The ratio increased from 0.62 in 2020 to 0.86 in 2021, which represents a significant improvement. This was followed by a slight decline to 0.83 in 2022 and a continuing gradual decrease to 0.77 in 2023 and 0.75 in 2024. Although the downward trend from 2021 indicates some reduction in efficiency, the ratios remain relatively high, suggesting consistent operational performance in asset turnover.
- Chile
- Chile exhibited a steady upward trend in asset turnover over the five-year period. The ratio rose consistently from 0.19 in 2020 to 0.31 in 2021, then to 0.35 in 2022, continuing up to 0.39 in 2023 and reaching 0.40 by 2024. This gradual increase signals improving efficiency and better utilization of assets in the Chilean operations.
- Other
- The 'Other' category demonstrated the highest asset turnover ratios throughout the observed periods, beginning at 0.96 in 2020 and nearly doubling to 1.72 in 2021. The ratio remained relatively stable at 1.71 in 2022, then increased further to 2.08 in 2023 and 2.32 in 2024. This continuous growth highlights strong and improving asset turnover efficiency in this segment, indicating potentially successful management or favorable operational conditions contributing to enhanced revenue generation from assets.
Area Asset Turnover: Indonesia
Freeport-McMoRan Inc.; Indonesia; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenues
- The revenue pattern displays significant volatility across the analyzed years. Revenues nearly doubled from 1,760 million USD in 2020 to 3,132 million USD in 2021, indicating a strong growth phase. This was followed by a slight decrease in 2022 to 3,026 million USD. Subsequently, there is a sharp decline in 2023 to 767 million USD, representing a substantial drop compared to previous years, with a mild recovery to 1,108 million USD in 2024. Overall, the trend suggests a volatile revenue stream with a peak in the early years followed by a notable reduction.
- Long-lived assets
- Long-lived assets exhibit a consistent upward trajectory over the entire period. Starting at 15,567 million USD in 2020, the asset base increased steadily each year to reach 22,580 million USD by 2024. This trend indicates ongoing investments or capital expenditures focused on long-term asset accumulation, reflecting an expanding asset base despite revenue fluctuations.
- Area asset turnover
- The area asset turnover ratio, which measures revenue generated per unit of long-lived assets, follows a downward trend overall. Beginning at 0.11 in 2020, the ratio improves to 0.19 in 2021, aligning with the revenue increase of that period. However, it declines to 0.17 in 2022 and sharply drops to 0.04 in 2023, before a marginal improvement to 0.05 in 2024. This decrease suggests that asset efficiency, in terms of generating revenue, has weakened considerably, likely due to the sharp fall in revenues despite continuous asset growth.
Area Asset Turnover: U.S.
Freeport-McMoRan Inc.; U.S.; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
The analysis of the provided financial data over the five-year period reveals several notable trends within the U.S. geographic segment.
- Revenues
- Revenues exhibited a strong upward trajectory from 2020 through 2022, increasing from 5,248 million US dollars to 7,339 million US dollars. This growth appeared to plateau slightly in 2023, with a marginal decline to 7,264 million US dollars, before rebounding to 7,806 million US dollars in 2024. Overall, revenues grew by approximately 49% over the five-year span, indicating robust sales performance with minor fluctuations.
- Long-lived Assets
- Long-lived assets showed a generally increasing trend throughout the period. Beginning at 8,420 million US dollars in 2020, the asset base slightly decreased in 2021 to 8,292 million US dollars but then steadily rose each subsequent year, reaching 10,468 million US dollars by 2024. This increase represents a 24.3% growth from 2020 to 2024, suggesting ongoing investments or capital expenditures in fixed or non-current assets.
- Area Asset Turnover
- The area asset turnover ratio, which measures how effectively assets generate revenue, experienced significant improvement in 2021, increasing from 0.62 to 0.86. This peak was followed by a gradual decline over the next three years, ending at 0.75 in 2024. Despite the decline, the ratio in 2024 remains higher than the initial 2020 level, indicating that asset utilization improved overall compared to the beginning of the period, albeit with some reduction in efficiency in the most recent years.
In summary, the data reflects growth in revenues and asset base, coupled with fluctuating but generally improved asset turnover efficiency over the five years. The modest decrease in asset turnover post-2021 could merit further investigation to understand operational dynamics or changes in asset deployment impacting productivity.
Area Asset Turnover: Chile
Freeport-McMoRan Inc.; Chile; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenues
- The revenue figures show a consistent upward trend over the five-year period. Starting at $221 million in 2020, revenues increased steadily each year, reaching $451 million by 2024. This represents a significant growth trend, implying expanding operations or market presence in the Chile geographic area.
- Long-lived assets
- The value of long-lived assets exhibits relative stability throughout the period. Beginning at $1,172 million in 2020, there is a slight decline to $1,110 million in 2021 and a continued marginal decrease to $1,103 million in 2022. From 2022 onward, the assets show a slight recovery, rising to $1,120 million by 2024. Overall, the assets remain mostly flat, indicating limited changes in fixed asset investment or disposals over these years.
- Area asset turnover
- The area asset turnover ratio demonstrates a clear and continuous improvement. Starting at 0.19 in 2020, it increases each year to 0.40 by 2024. This upward pattern suggests that the company is generating increasingly more revenue per dollar of long-lived assets in the Chile area, reflecting better asset utilization or operational efficiency.
- Overall Insights
- The data indicates a positive operational performance trend, with revenue growth outpacing stable asset levels. The enhanced asset turnover ratio corroborates improved efficiency in using deployed assets to generate income. Together, these patterns suggest effective management and successful business activity expansion within this geographical segment during the analyzed period.
Area Asset Turnover: Other
Freeport-McMoRan Inc.; Other; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
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).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenue Trends
- The revenues in the "Other" geographic area have shown a consistent upward trend over the five-year period. Beginning at $6,969 million in 2020, revenues nearly doubled by 2021 to $12,202 million, followed by a slight decline to $12,032 million in 2022. Subsequently, revenues increased again in 2023 to $14,396 million and further to $16,090 million in 2024. Overall, this reflects a strong recovery and growth trajectory after a modest dip in 2022.
- Long-Lived Assets Analysis
- The value of long-lived assets in this geographic area displays a gradual declining trend over the same period. Starting from $7,279 million in 2020, the assets decreased slightly each year, reaching $6,948 million by the end of 2024. The reduction is steady but relatively moderate, indicating stable asset management or possible asset disposals.
- Area Asset Turnover Ratio
- The area asset turnover ratio exhibits a significant increasing trend, rising from 0.96 in 2020 to 2.32 in 2024. This ratio measures the efficiency of using assets to generate revenues. The steady increase suggests improved operational efficiency and better utilization of assets in the geographic area over time.
- Overall Insights
- The combination of rising revenues and increasing asset turnover alongside slightly declining long-lived assets points toward enhanced productivity and asset management effectiveness in the "Other" geographic region. Despite the modest asset base reduction, the company appears to have leveraged its assets more efficiently to drive revenue growth consistently, especially notable after 2021.
Long-lived assets
Freeport-McMoRan Inc., long-lived assets by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Indonesia | |||||
| U.S. | |||||
| Chile | |||||
| Other | |||||
| Total |
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).
- Indonesia
- The asset values in Indonesia exhibit a consistent upward trend over the five-year period. Beginning at $15,567 million in 2020, the figure increases each year, reaching $22,580 million by 2024. This represents an approximate 45% growth from the initial value, indicating a significant expansion or reinvestment in assets in this region.
- U.S.
- The U.S. also shows growth in long-lived assets over the period, although at a more moderate pace compared to Indonesia. Starting at $8,420 million in 2020, the value dips slightly to $8,292 million in 2021 before resuming an upward trajectory to reach $10,468 million in 2024. The net increase indicates a positive but somewhat uneven investment trend.
- Chile
- Asset values in Chile remain relatively stable throughout these years, with minor fluctuations. Starting at $1,172 million in 2020, the value gently declines to $1,103 million in 2022 and then modestly rises to $1,120 million by 2024. Overall, the data suggests limited change and a steady state of asset levels in this geographic area.
- Other
- The category labeled "Other" shows a gradual decrease in long-lived assets over the time frame. From $7,279 million in 2020, the value declines year by year to $6,948 million in 2024. This steady reduction may imply asset disposals, reallocation, or depreciation exceeding additions in these other areas.
- Total
- The total long-lived assets increase consistently across the periods, growing from $32,438 million in 2020 to $41,116 million in 2024. This overall growth of nearly 27% highlights a company-wide accumulation of assets, largely driven by significant investments or asset appreciation in Indonesia and the U.S., while Chile's assets remain stable and the Other category declines.
Revenues
Freeport-McMoRan Inc., revenues by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Indonesia | |||||
| U.S. | |||||
| Chile | |||||
| Other | |||||
| Total |
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).
- Indonesia Revenue Trends
- The revenue from Indonesia exhibited significant fluctuations over the analyzed period. It more than doubled from 1,760 million USD in 2020 to 3,132 million USD in 2021, followed by a slight decline to 3,026 million USD in 2022. After a sharp drop to 767 million USD in 2023, the figure partially recovered to 1,108 million USD in 2024, remaining substantially lower than the earlier peak levels.
- U.S. Revenue Trends
- Revenue generated in the U.S. displayed consistent growth from 5,248 million USD in 2020 to 7,339 million USD in 2022. Although there was a minor decrease to 7,264 million USD in 2023, revenue rebounded to 7,806 million USD in 2024. Overall, the U.S. market showed a steady upward trend with minor volatility in the last two years.
- Chile Revenue Trends
- Chile's revenue showed steady, moderate growth throughout the period. Starting from 221 million USD in 2020, revenue increased each year, reaching 451 million USD by 2024. This indicates a consistent, gradual expansion in this geographic segment.
- Other Regions Revenue Trends
- The revenue from other regions experienced robust growth across the analyzed years. Beginning at 6,969 million USD in 2020, it surged to 12,202 million USD in 2021 and maintained levels above 12,000 million USD in 2022. This upward momentum continued with further growth to 14,396 million USD in 2023 and 16,090 million USD in 2024, reflecting strong and sustained expansion outside the primary geographic segments.
- Total Revenue Trends
- Total revenue exhibited a significant increase from 14,198 million USD in 2020 to 22,845 million USD in 2021. It remained relatively stable in 2022 and 2023, hovering around 22,780 million USD and 22,855 million USD respectively, before rising again to 25,455 million USD in 2024. This pattern suggests an overall growth trajectory with periods of stabilization.
- Summary Insights
- The overall revenue pattern indicates that the strongest contributors to growth were the U.S. and other regions, which showed a consistent upward trend. Indonesia's revenue was notably volatile, with a significant decline after 2022. Chile demonstrated steady but modest revenue growth. The total revenue growth was largely driven by the expansions in the U.S. and other geographic areas, while fluctuations in Indonesia had only a limited impact on the aggregate figures. The data suggests that diversification across multiple regions provides a buffer against volatility in individual markets.