Stock Analysis on Net

Freeport-McMoRan Inc. (NYSE:FCX)

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Freeport-McMoRan Inc., FCFE calculation

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income (loss) attributable to common stockholders 1,848 3,468 4,306 599 (239)
Net income attributable to noncontrolling interests 1,903 1,011 1,059 266 50
Net noncash charges 2,408 2,261 1,603 1,487 1,322
Changes in working capital and other (880) (1,601) 747 665 349
Net cash provided by operating activities 5,279 5,139 7,715 3,017 1,482
Capital expenditures (4,824) (3,469) (2,115) (1,961) (2,652)
Proceeds from debt 1,781 5,735 1,201 3,531 1,879
Repayments of debt (2,980) (4,515) (1,461) (3,724) (3,197)
Free cash flow to equity (FCFE) (744) 2,890 5,340 863 (2,488)

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Freeport-McMoRan Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Freeport-McMoRan Inc. FCFE decreased from 2021 to 2022 and from 2022 to 2023.

Price to FCFE Ratio, Current

Freeport-McMoRan Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 1,434,409,010
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) (744)
FCFE per share -0.52
Current share price (P) 45.88
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Newmont Corp. 1,934.64
P/FCFE, Industry
Materials 56.53

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

Freeport-McMoRan Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1 1,434,409,010 1,430,693,689 1,454,781,055 1,458,480,446 1,450,972,426
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 (744) 2,890 5,340 863 (2,488)
FCFE per share3 -0.52 2.02 3.67 0.59 -1.71
Share price1, 4 38.83 42.31 43.67 32.90 12.24
Valuation Ratio
P/FCFE5 20.95 11.90 55.60
Benchmarks
P/FCFE, Competitors6
Newmont Corp. 1,715.11 38.52 24.59 13.72 225.84
P/FCFE, Sector
Metals & Mining 25.16 15.54 22.30
P/FCFE, Industry
Materials 52.78 19.12 19.49 23.59

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 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -744,000,000 ÷ 1,434,409,010 = -0.52

4 Closing price as at the filing date of Freeport-McMoRan Inc. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 38.83 ÷ -0.52 =

6 Click competitor name to see calculations.