Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Freeport-McMoRan Inc., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Current Ratio
Freeport-McMoRan Inc., current ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 14,065) | 14,077) | 14,057) | 14,746) | 15,613) | 15,373) | 16,182) | 15,302) | 14,830) | 13,791) | 12,599) | 10,856) | 9,303) | 8,071) | 7,155) | 7,357) | 7,915) | 8,347) | 8,730) | 9,045) | ||||||
| Current liabilities | 5,815) | 4,860) | 4,788) | 5,281) | 6,345) | 5,999) | 5,932) | 6,454) | 5,892) | 5,523) | 5,527) | 4,611) | 3,417) | 3,096) | 2,906) | 3,143) | 3,209) | 3,381) | 3,286) | 3,247) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 2.42 | 2.90 | 2.94 | 2.79 | 2.46 | 2.56 | 2.73 | 2.37 | 2.52 | 2.50 | 2.28 | 2.35 | 2.72 | 2.61 | 2.46 | 2.34 | 2.47 | 2.47 | 2.66 | 2.79 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 1.25 | 2.12 | 2.28 | 2.38 | 2.23 | 2.72 | 2.82 | 2.92 | 2.90 | 2.67 | 2.67 | 2.40 | 2.52 | 2.83 | 2.81 | 3.31 | 2.63 | 2.18 | 1.83 | 2.97 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Quick Ratio
Freeport-McMoRan Inc., quick ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 4,758) | 5,745) | 6,683) | 6,852) | 8,146) | 8,578) | 9,492) | 8,338) | 8,068) | 7,672) | 6,313) | 4,580) | 3,657) | 2,403) | 1,465) | 1,602) | 2,020) | 2,247) | 2,623) | 2,833) | ||||||
| Restricted cash and cash equivalents | 1,208) | 697) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Trade accounts receivable | 1,209) | 792) | 675) | 1,134) | 1,336) | 844) | 977) | 1,537) | 1,168) | 931) | 1,100) | 1,248) | 892) | 893) | 717) | 515) | 741) | 731) | 725) | 781) | ||||||
| Income and other tax receivables | 455) | 488) | 417) | 550) | 459) | 485) | 435) | 444) | 574) | 591) | 578) | 522) | 520) | 464) | 646) | 591) | 426) | 263) | 245) | 410) | ||||||
| Total quick assets | 7,630) | 7,722) | 7,775) | 8,536) | 9,941) | 9,907) | 10,904) | 10,319) | 9,810) | 9,194) | 7,991) | 6,350) | 5,069) | 3,760) | 2,828) | 2,708) | 3,187) | 3,241) | 3,593) | 4,024) | ||||||
| Current liabilities | 5,815) | 4,860) | 4,788) | 5,281) | 6,345) | 5,999) | 5,932) | 6,454) | 5,892) | 5,523) | 5,527) | 4,611) | 3,417) | 3,096) | 2,906) | 3,143) | 3,209) | 3,381) | 3,286) | 3,247) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 1.31 | 1.59 | 1.62 | 1.62 | 1.57 | 1.65 | 1.84 | 1.60 | 1.66 | 1.66 | 1.45 | 1.38 | 1.48 | 1.21 | 0.97 | 0.86 | 0.99 | 0.96 | 1.09 | 1.24 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 0.63 | 1.17 | 1.27 | 1.40 | 1.41 | 1.77 | 1.93 | 1.97 | 2.04 | 1.83 | 1.85 | 1.73 | 1.86 | 2.02 | 1.84 | 2.10 | 1.20 | 1.25 | 0.86 | 2.10 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Cash Ratio
Freeport-McMoRan Inc., cash ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 4,758) | 5,745) | 6,683) | 6,852) | 8,146) | 8,578) | 9,492) | 8,338) | 8,068) | 7,672) | 6,313) | 4,580) | 3,657) | 2,403) | 1,465) | 1,602) | 2,020) | 2,247) | 2,623) | 2,833) | ||||||
| Restricted cash and cash equivalents | 1,208) | 697) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total cash assets | 5,966) | 6,442) | 6,683) | 6,852) | 8,146) | 8,578) | 9,492) | 8,338) | 8,068) | 7,672) | 6,313) | 4,580) | 3,657) | 2,403) | 1,465) | 1,602) | 2,020) | 2,247) | 2,623) | 2,833) | ||||||
| Current liabilities | 5,815) | 4,860) | 4,788) | 5,281) | 6,345) | 5,999) | 5,932) | 6,454) | 5,892) | 5,523) | 5,527) | 4,611) | 3,417) | 3,096) | 2,906) | 3,143) | 3,209) | 3,381) | 3,286) | 3,247) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 1.03 | 1.33 | 1.40 | 1.30 | 1.28 | 1.43 | 1.60 | 1.29 | 1.37 | 1.39 | 1.14 | 0.99 | 1.07 | 0.78 | 0.50 | 0.51 | 0.63 | 0.66 | 0.80 | 0.87 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 0.50 | 1.14 | 1.20 | 1.27 | 1.28 | 1.64 | 1.78 | 1.80 | 1.91 | 1.71 | 1.72 | 1.65 | 1.73 | 1.90 | 1.73 | 1.99 | 1.04 | 1.10 | 0.73 | 1.98 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 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 Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |