Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
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
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
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
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. |