Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Freeport-McMoRan Inc., short-term (operating) activity 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).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Freeport-McMoRan Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Freeport-McMoRan Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Freeport-McMoRan Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Freeport-McMoRan Inc. number of days of inventory outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Freeport-McMoRan Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Freeport-McMoRan Inc. operating cycle deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Inventory Turnover
Freeport-McMoRan Inc., inventory turnover 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) | ||||||||||||||||||||||||||
| Cost of sales | 3,949) | 4,086) | 4,096) | 3,564) | 4,023) | 3,899) | 3,528) | 3,639) | 3,723) | 3,551) | 3,550) | 3,206) | 3,066) | 2,868) | 2,613) | 3,108) | 3,400) | 3,028) | 3,354) | 3,323) | ||||||
| Inventories | 6,060) | 5,949) | 5,810) | 5,737) | 5,180) | 4,819) | 4,670) | 4,454) | 4,497) | 4,120) | 4,218) | 4,145) | 3,893) | 3,892) | 3,810) | 3,854) | 4,073) | 4,434) | 4,377) | 4,461) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Inventory turnover1 | 2.59 | 2.65 | 2.68 | 2.62 | 2.91 | 3.07 | 3.09 | 3.25 | 3.12 | 3.25 | 3.01 | 2.84 | 2.99 | 3.08 | 3.19 | 3.34 | 3.22 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 4.03 | 5.48 | 5.72 | 6.11 | 6.61 | 6.23 | 6.56 | 5.88 | 5.84 | 5.26 | 5.34 | 5.08 | 5.21 | 5.21 | 5.45 | 5.71 | 5.12 | — | — | — | ||||||
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
Inventory turnover
= (Cost of salesQ4 2023
+ Cost of salesQ3 2023
+ Cost of salesQ2 2023
+ Cost of salesQ1 2023)
÷ Inventories
= (3,949 + 4,086 + 4,096 + 3,564)
÷ 6,060 = 2.59
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Freeport-McMoRan Inc. inventory turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Receivables Turnover
Freeport-McMoRan Inc., receivables turnover 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) | ||||||||||||||||||||||||||
| Revenues | 5,905) | 5,824) | 5,737) | 5,389) | 5,758) | 5,003) | 5,416) | 6,603) | 6,164) | 6,083) | 5,748) | 4,850) | 4,495) | 3,851) | 3,054) | 2,798) | 3,911) | 3,153) | 3,546) | 3,792) | ||||||
| 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) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Receivables turnover1 | 18.90 | 28.67 | 32.43 | 19.02 | 17.05 | 27.47 | 24.84 | 16.00 | 19.56 | 22.75 | 17.22 | 13.02 | 15.92 | 15.25 | 18.01 | 26.03 | 19.44 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 16.09 | 141.73 | 60.52 | 33.25 | 32.55 | 41.89 | 33.97 | 29.96 | 36.27 | 36.57 | 36.62 | 44.82 | 25.61 | 34.21 | 41.67 | 47.81 | 26.11 | — | — | — | ||||||
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
Receivables turnover
= (RevenuesQ4 2023
+ RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023)
÷ Trade accounts receivable
= (5,905 + 5,824 + 5,737 + 5,389)
÷ 1,209 = 18.90
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Freeport-McMoRan Inc. receivables turnover ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Working Capital Turnover
Freeport-McMoRan Inc., working capital turnover 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) | ||||||
| Less: 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) | ||||||
| Working capital | 8,250) | 9,217) | 9,269) | 9,465) | 9,268) | 9,374) | 10,250) | 8,848) | 8,938) | 8,268) | 7,072) | 6,245) | 5,886) | 4,975) | 4,249) | 4,214) | 4,706) | 4,966) | 5,444) | 5,798) | ||||||
| Revenues | 5,905) | 5,824) | 5,737) | 5,389) | 5,758) | 5,003) | 5,416) | 6,603) | 6,164) | 6,083) | 5,748) | 4,850) | 4,495) | 3,851) | 3,054) | 2,798) | 3,911) | 3,153) | 3,546) | 3,792) | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Working capital turnover1 | 2.77 | 2.46 | 2.36 | 2.28 | 2.46 | 2.47 | 2.37 | 2.78 | 2.56 | 2.56 | 2.68 | 2.60 | 2.41 | 2.74 | 3.04 | 3.18 | 3.06 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 7.80 | 3.51 | 3.25 | 3.04 | 3.32 | 3.03 | 2.78 | 2.67 | 2.42 | 2.61 | 2.68 | 2.41 | 2.24 | 2.24 | 2.47 | 2.34 | 2.51 | — | — | — | ||||||
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
Working capital turnover
= (RevenuesQ4 2023
+ RevenuesQ3 2023
+ RevenuesQ2 2023
+ RevenuesQ1 2023)
÷ Working capital
= (5,905 + 5,824 + 5,737 + 5,389)
÷ 8,250 = 2.77
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Freeport-McMoRan Inc. working capital turnover ratio improved from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Average Inventory Processing Period
Freeport-McMoRan Inc., average inventory processing period 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 | ||||||||||||||||||||||||||
| Inventory turnover | 2.59 | 2.65 | 2.68 | 2.62 | 2.91 | 3.07 | 3.09 | 3.25 | 3.12 | 3.25 | 3.01 | 2.84 | 2.99 | 3.08 | 3.19 | 3.34 | 3.22 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average inventory processing period1 | 141 | 138 | 136 | 139 | 125 | 119 | 118 | 112 | 117 | 112 | 121 | 129 | 122 | 118 | 114 | 109 | 113 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 91 | 67 | 64 | 60 | 55 | 59 | 56 | 62 | 62 | 69 | 68 | 72 | 70 | 70 | 67 | 64 | 71 | — | — | — | ||||||
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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 2.59 = 141
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Freeport-McMoRan Inc. number of days of inventory outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Average Receivable Collection Period
Freeport-McMoRan Inc., average receivable collection period 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 | ||||||||||||||||||||||||||
| Receivables turnover | 18.90 | 28.67 | 32.43 | 19.02 | 17.05 | 27.47 | 24.84 | 16.00 | 19.56 | 22.75 | 17.22 | 13.02 | 15.92 | 15.25 | 18.01 | 26.03 | 19.44 | — | — | — | ||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||
| Average receivable collection period1 | 19 | 13 | 11 | 19 | 21 | 13 | 15 | 23 | 19 | 16 | 21 | 28 | 23 | 24 | 20 | 14 | 19 | — | — | — | ||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 23 | 3 | 6 | 11 | 11 | 9 | 11 | 12 | 10 | 10 | 10 | 8 | 14 | 11 | 9 | 8 | 14 | — | — | — | ||||||
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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 18.90 = 19
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Freeport-McMoRan Inc. number of days of receivables outstanding deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Operating Cycle
Freeport-McMoRan Inc., operating cycle calculation (quarterly data)
No. days
| 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 | ||||||||||||||||||||||||||
| Average inventory processing period | 141 | 138 | 136 | 139 | 125 | 119 | 118 | 112 | 117 | 112 | 121 | 129 | 122 | 118 | 114 | 109 | 113 | — | — | — | ||||||
| Average receivable collection period | 19 | 13 | 11 | 19 | 21 | 13 | 15 | 23 | 19 | 16 | 21 | 28 | 23 | 24 | 20 | 14 | 19 | — | — | — | ||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||
| Operating cycle1 | 160 | 151 | 147 | 158 | 146 | 132 | 133 | 135 | 136 | 128 | 142 | 157 | 145 | 142 | 134 | 123 | 132 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||
| Newmont Corp. | 114 | 70 | 70 | 71 | 66 | 68 | 67 | 74 | 72 | 79 | 78 | 80 | 84 | 81 | 76 | 72 | 85 | — | — | — | ||||||
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
Operating cycle = Average inventory processing period + Average receivable collection period
= 141 + 19 = 160
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Freeport-McMoRan Inc. operating cycle deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |