Freeport-McMoRan (FCX) stock
Materials · Copper
Freeport-McMoRan (FCX) is a Copper company in the Materials sector, headquartered in Phoenix, Arizona. As of October 23, 2026, FCX closed at $65.18, a market capitalization of $93.60 billion, the 130th largest company in the S&P 500. Over the last twelve months it generated $25.87 billion in revenue (-7% year over year) and $1.76 billion in free cash flow. The stock trades at 32.1x trailing earnings and 15.0x forward earnings.
- 1-year total return: +59.6% (dividends reinvested)
- 5-year return: +13.1% a year
- 52-week range: $38.54 – $80.24
- Gross margin 38.3%, operating margin 33.4%
- Dividend yield: 0.92%
- FI Handbook report card: C across 10 metrics
- 3rd largest of 24 Materials stocks in the S&P 500
FCX price chart
1Y price change: +58.1% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| FCX | -10.0% | +29.5% | +59.6% | +26.4% | +13.1% | +21.9% | +7.6% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1995.
FCX key statistics
- Market cap
- $93.6B
- #130 in S&P 500
- P/E (TTM)
- 32.1x
- Forward P/E
- 15.0x
- EPS (TTM)
- $2.03
- Revenue (TTM)
- $25.9B
- -7%
- Free cash flow
- $1.8B
- Gross margin
- 38.3%
- Operating margin
- 33.4%
- Return on equity
- 14.8%
- Dividend yield
- 0.92%
- 52-week range
- $38.54 – $80.24
- Beta
- 1.39
- Price / sales
- 3.6x
- EV / EBITDA
- 11.7x
- Debt / equity
- 0.32x
- Employees
- 29,000
FCX report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-7.3%F
- Gross margin38.3%C
- Operating margin33.4%A
- FCF margin6.8%D
- Return on equity14.8%C
- Net debt / EBITDA0.7xB
- Forward P/E15.0xA
- PEG ratio4.4xF
- Shareholder yield1.0%D
- Share count change / yr-0.2%C
Freeport-McMoRan financials
Revenue went from $14.6B in fiscal 2016 to $25.2B in fiscal 2025, growing 6.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.6B | $15.9B | $18.9B | $14.3B | $13.9B | $22.4B | $23.3B | $22.7B | $25.2B | $25.2B |
| Gross profit | -$3.0B | $3.9B | $5.5B | $1.2B | $2.2B | $8.4B | $8.2B | $7.0B | $7.4B | $6.6B |
| Operating income | -$2.7B | $3.7B | $4.8B | $1.1B | $2.4B | $8.4B | $7.0B | $6.2B | $6.9B | $6.5B |
| Net income | -$4.0B | $2.1B | $2.9B | -$189.0M | $865.0M | $5.4B | $4.5B | $3.8B | $4.4B | $4.2B |
| EPS (diluted) | $-3.16 | $1.25 | $1.78 | $-0.17 | $0.41 | $2.90 | — | — | — | — |
| Free cash flow | $924.0M | $3.3B | $1.9B | -$1.2B | $1.1B | $5.6B | $1.7B | $455.0M | $2.4B | $1.1B |
| Buybacks | — | — | — | $0 | $0 | $488.0M | $1.3B | $0 | $59.0M | $107.0M |
| Dividends paid | $699.0M | $176.0M | $496.0M | $0 | $0 | $1.0B | $866.0M | $863.0M | $865.0M | $865.0M |
| Diluted shares | 1.3B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.5B | 1.4B | 1.4B | 1.4B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into FCX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $99.9B and $1.8B of trailing free cash flow, Freeport-McMoRan needs to grow free cash flow about 38.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 1.1% a year over the last five years.
P/E ratio history
Current 22.5x vs. median 12.9x (10th–90th percentile 7.0x–24.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
FCX dividend
- Dividend yield
- 0.92%
- Annual dividend
- $0.60
- Years of increases
- —
- 5-yr dividend growth
- 64.4%
- per year
- Payout ratio
- 30%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
FCX analyst price targets
22 analysts' average 12-month target is $79.20 (+22% vs. $65.18). Targets range from $32.00 to $92.00. 78% rate it a buy.
FCX earnings
Next report: October 27, 2026. Freeport-McMoRan has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $7.0B (-7% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 23, 2026 | $0.62 | $0.74 | +18.7% |
| Apr 23, 2026 | $0.47 | $0.57 | +21.9% |
| Jan 22, 2026 | $0.32 | $0.47 | +46.7% |
| Oct 23, 2025 | $0.41 | $0.50 | +22.8% |
| Jul 23, 2025 | $0.44 | $0.54 | +21.8% |
| Apr 24, 2025 | $0.23 | $0.24 | +4.6% |
| Jan 23, 2025 | $0.22 | $0.31 | +43.2% |
| Oct 22, 2024 | $0.37 | $0.38 | +2.8% |
Stocks like FCX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 LIN Linde | -0.30% | +15% | $234.6B | 32.8x | Compare |
 NEM Newmont | -4.59% | +24% | $113.1B | 12.6x | Compare |
 SHW Sherwin-Williams | -2.48% | +3% | $81.8B | 31.1x | Compare |
 ECL Ecolab | -1.29% | +6% | $80.9B | 38.7x | Compare |
 APD Air Products and Chemicals | -0.35% | +24% | $68.4B | — | Compare |
 NUE Nucor | +0.02% | +89% | $58.6B | 20.6x | Compare |
 CRH CRH | -1.78% | -27% | $56.5B | 15.0x | Compare |
 MLM Martin Marietta Materials | -2.03% | -18% | $36.0B | 33.0x | Compare |
FCX news
- FCX to Report Q3 Earnings: What's in the Cards for the Stock? · Oct 23, 2026
- Southern Copper Sinks 7%, Freeport Down 6% as Copper Slides Despite “Record Highs” · Oct 23, 2026
- Countdown to Freeport-McMoRan (FCX) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS · Oct 22, 2026
- Here is What to Know Beyond Why Freeport-McMoRan Inc. (FCX) is a Trending Stock · Oct 22, 2026
- Rare Earths vs. Copper: Should You Buy MP Materials or Freeport-McMoRan? · Oct 21, 2026
FCX stock FAQ
What is FCX's market cap?
Freeport-McMoRan's market capitalization is $93.60 billion as of October 23, 2026, ranking 130th in the S&P 500.
What is FCX's P/E ratio?
FCX trades at a trailing price-to-earnings ratio of 32.1x and a forward P/E of 15.0x. Its median P/E over the period we track is 12.9x.
Does FCX pay a dividend?
Yes. Freeport-McMoRan pays $0.60 per share a year, a 0.92% yield. Dividends grew 64.4% a year over the last five years.
How much has FCX stock returned?
Including reinvested dividends, FCX returned +59.6% over one year, +13.1% a year over five years, +21.9% a year over ten years through October 23, 2026.
Is FCX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Freeport-McMoRan must grow free cash flow about 38% a year for the next decade. Its free cash flow grew 1% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the FCX price target?
22 analysts cover FCX with an average 12-month price target of $79.20, +22% from the current price. 78% of them rate it a buy.
When does FCX report earnings?
Freeport-McMoRan is expected to report earnings on October 27, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Freeport-McMoRan have?
Freeport-McMoRan has about 29,000 full-time employees, or $892,000 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology