Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Freeport-McMoRan Inc., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Freeport-McMoRan Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Freeport-McMoRan Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Freeport-McMoRan Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Freeport-McMoRan Inc. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover
Freeport-McMoRan Inc., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 22,855) | 22,780) | 22,845) | 14,198) | 14,402) | |
| Property, plant, equipment and mine development costs, net, excluding operating lease right-of-use assets | 34,847) | 32,285) | 30,068) | 29,611) | 29,352) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 0.66 | 0.71 | 0.76 | 0.48 | 0.49 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Newmont Corp. | 0.31 | 0.49 | 0.51 | 0.47 | 0.39 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Metals & Mining | 0.48 | 0.62 | 0.65 | 0.48 | 0.44 | |
| Net Fixed Asset Turnover, Industry | ||||||
| Materials | 0.70 | 0.85 | 0.82 | 0.64 | 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).
1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Property, plant, equipment and mine development costs, net, excluding operating lease right-of-use assets
= 22,855 ÷ 34,847 = 0.66
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Freeport-McMoRan Inc. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Freeport-McMoRan Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 22,855) | 22,780) | 22,845) | 14,198) | 14,402) | |
| Property, plant, equipment and mine development costs, net, excluding operating lease right-of-use assets | 34,847) | 32,285) | 30,068) | 29,611) | 29,352) | |
| Operating lease right-of-use assets | 448) | 342) | 277) | 207) | 232) | |
| Property, plant, equipment and mine development costs, net, excluding operating lease right-of-use assets (including operating lease, right-of-use asset) | 35,295) | 32,627) | 30,345) | 29,818) | 29,584) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 0.65 | 0.70 | 0.75 | 0.48 | 0.49 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Newmont Corp. | 0.31 | 0.49 | 0.50 | 0.47 | 0.38 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Metals & Mining | 0.48 | 0.61 | 0.64 | 0.47 | 0.44 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Materials | 0.69 | 0.84 | 0.81 | 0.63 | 0.62 | |
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
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Property, plant, equipment and mine development costs, net, excluding operating lease right-of-use assets (including operating lease, right-of-use asset)
= 22,855 ÷ 35,295 = 0.65
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Freeport-McMoRan Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Freeport-McMoRan Inc., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 22,855) | 22,780) | 22,845) | 14,198) | 14,402) | |
| Total assets | 52,506) | 51,093) | 48,022) | 42,144) | 40,809) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.44 | 0.45 | 0.48 | 0.34 | 0.35 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Newmont Corp. | 0.21 | 0.31 | 0.30 | 0.28 | 0.24 | |
| Total Asset Turnover, Sector | ||||||
| Metals & Mining | 0.32 | 0.39 | 0.40 | 0.31 | 0.30 | |
| Total Asset Turnover, Industry | ||||||
| Materials | 0.36 | 0.40 | 0.39 | 0.31 | 0.31 | |
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
Total asset turnover = Revenues ÷ Total assets
= 22,855 ÷ 52,506 = 0.44
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Freeport-McMoRan Inc. total asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Equity Turnover
Freeport-McMoRan Inc., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Revenues | 22,855) | 22,780) | 22,845) | 14,198) | 14,402) | |
| Stockholders’ equity | 16,693) | 15,555) | 13,980) | 10,174) | 9,298) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.37 | 1.46 | 1.63 | 1.40 | 1.55 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Newmont Corp. | 0.41 | 0.62 | 0.55 | 0.50 | 0.45 | |
| Equity Turnover, Sector | ||||||
| Metals & Mining | 0.76 | 0.99 | 0.97 | 0.77 | 0.79 | |
| Equity Turnover, Industry | ||||||
| Materials | 0.79 | 0.91 | 0.82 | 0.66 | 0.66 | |
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
Equity turnover = Revenues ÷ Stockholders’ equity
= 22,855 ÷ 16,693 = 1.37
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Freeport-McMoRan Inc. equity turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |