Enterprise Value (EV)
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Freeport-McMoRan Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Current Enterprise Value (EV)
Freeport-McMoRan Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Current portion of debt (per books) | |
| Add: Long-term debt, less current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Restricted cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Freeport-McMoRan Inc., EV calculation
Based on: 10-K (reporting date: 2024-12-31), 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Freeport-McMoRan Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial data over the five-year period exhibits several notable trends related to the company's equity, debt, and overall valuation.
- Common Equity (Market Value)
- The market value of common equity increased from $47,984 million in 2020 to a peak of $63,530 million in 2021, representing a significant rise. It then experienced a slight decline to $60,533 million in 2022, followed by further decreases to $55,698 million in 2023. In 2024, there was a modest recovery to $56,721 million. This pattern suggests a strong bullish sentiment initially, tapering off into a slight correction and stabilization afterward.
- Total Equity
- Total equity showed a consistent growth pattern from 2020 through 2021, rising from $56,478 million to $72,569 million. However, from 2021 onward, total equity declined each year until 2023, dropping to $66,315 million, before a slight increase to $67,918 million in 2024. The decline after 2021 might reflect lower retained earnings or adjustments in other comprehensive income, partially offset by the rebound in 2024.
- Total Equity and Debt
- The combined figure of equity and debt reached $66,189 million in 2020 and increased to $82,019 million in 2021, indicating a substantial infusion of capital or increased leverage. However, this total decreased over the next two years to $75,737 million by 2023, followed by a minor uptick to $76,866 million in 2024. The trend points to cyclical adjustments in the capital structure, with an initial expansion phase followed by contraction and slight recovery in later years.
- Enterprise Value (EV)
- Enterprise value rose from $62,532 million in 2020 to $73,951 million in 2021, signaling enhanced market valuation and/or increased debt levels. Subsequently, the EV declined over the next two years, reaching $69,771 million in 2023. The gradual increase to $72,055 million in 2024 suggests improved market conditions or strategic financial management. Overall, EV movements parallel the changes in total equity and debt, indicating a linkage between market perception and capitalization adjustments.
In summary, the data reflects a period of growth in 2021 across all key financial measures, followed by a phase of contraction or consolidation between 2022 and 2023. The partial recoveries seen in 2024 suggest stabilization or renewed confidence in the company’s financial position. The interplay of equity and debt components appears central to variations in enterprise value, indicating strategic balancing of capital sources during these years.