Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Analysis of Liquidity Ratios

Microsoft Excel

Liquidity ratios measure the company ability to meet its short-term obligations.


Liquidity Ratios (Summary)

Freeport-McMoRan Inc., liquidity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Current ratio 2.42 2.46 2.52 2.72 2.47
Quick ratio 1.31 1.58 1.66 1.48 0.99
Cash ratio 1.03 1.30 1.37 1.07 0.63

Based on: 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).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Freeport-McMoRan Inc. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Freeport-McMoRan Inc. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Freeport-McMoRan Inc. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Current Ratio

Freeport-McMoRan Inc., current ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current assets 14,065 15,613 14,830 9,303 7,915
Current liabilities 5,815 6,345 5,892 3,417 3,209
Liquidity Ratio
Current ratio1 2.42 2.46 2.52 2.72 2.47
Benchmarks
Current Ratio, Competitors2
Newmont Corp. 1.25 2.23 2.90 2.52 2.63
Current Ratio, Sector
Metals & Mining 1.83 2.39 2.64 2.62 2.54
Current Ratio, Industry
Materials 1.24 1.37 1.47 1.40 1.38

Based on: 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).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 14,065 ÷ 5,815 = 2.42

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Freeport-McMoRan Inc. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Quick Ratio

Freeport-McMoRan Inc., quick ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents 4,758 8,146 8,068 3,657 2,020
Restricted cash and cash equivalents 1,208 111
Trade accounts receivable 1,209 1,336 1,168 892 741
Income and other tax receivables 455 459 574 520 426
Total quick assets 7,630 10,052 9,810 5,069 3,187
 
Current liabilities 5,815 6,345 5,892 3,417 3,209
Liquidity Ratio
Quick ratio1 1.31 1.58 1.66 1.48 0.99
Benchmarks
Quick Ratio, Competitors2
Newmont Corp. 0.71 1.52 2.04 1.86 1.20
Quick Ratio, Sector
Metals & Mining 1.01 1.56 1.78 1.67 1.08
Quick Ratio, Industry
Materials 0.78 0.96 1.02 0.95 0.76

Based on: 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).

1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 7,630 ÷ 5,815 = 1.31

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Freeport-McMoRan Inc. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Cash Ratio

Freeport-McMoRan Inc., cash ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Cash and cash equivalents 4,758 8,146 8,068 3,657 2,020
Restricted cash and cash equivalents 1,208 111
Total cash assets 5,966 8,257 8,068 3,657 2,020
 
Current liabilities 5,815 6,345 5,892 3,417 3,209
Liquidity Ratio
Cash ratio1 1.03 1.30 1.37 1.07 0.63
Benchmarks
Cash Ratio, Competitors2
Newmont Corp. 0.50 1.28 1.91 1.73 1.04
Cash Ratio, Sector
Metals & Mining 0.76 1.30 1.54 1.40 0.80
Cash Ratio, Industry
Materials 0.50 0.68 0.72 0.65 0.41

Based on: 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).

1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 5,966 ÷ 5,815 = 1.03

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Freeport-McMoRan Inc. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023.