Freeport-McMoRan Inc
FCX · NYSE · producer · market cap $111.7B as of 24 Aug 2026
What Freeport-McMoRan Inc's own filings say about its costs, margins and results, every figure cited.
Freeport-McMoRan Inc share price
- Latest C1 cash cost$1.97/lbrelease
- Copper produced, attributable786source
- Next report21 Janprior report
Company-reported data · Fixed cohorts · No estimated costs
How to read these figures
- Primary sources: every figure is the company's own, cited to the release or filing it came from.
- Fixed cohorts: the companies in each median are set for the calendar year, so a median never moves because membership moved.
- No modelled costs: no cost or margin here is estimated by us; where a company states no figure, the page says so.
About Freeport-McMoRan Inc
Freeport-McMoRan, headquartered in Phoenix, Arizona, operates geographically diverse assets with proven and probable mineral reserves of copper, gold and molybdenum. In the United States it manages seven copper operations, Morenci, Bagdad, Safford (including Lone Star), Sierrita and Miami in Arizona and Chino and Tyrone in New Mexico, and two molybdenum mines, Henderson and Climax in Colorado. In South America, FCX manages two copper operations, Cerro Verde in Peru and El Abra in Chile, and the Cerro Verde mine also produces molybdenum concentrate and silver. In Indonesia, PT Freeport Indonesia (PTFI) operates in the Grasberg minerals district, which also produces gold and silver. FCX has a 55.08% ownership interest in Cerro Verde. FCX has a 51% ownership interest in El Abra. Following a December 21, 2018 transaction, FCX has a 48.76% share ownership in PTFI. During 2025, production from FCX's mines totaled 3.4 billion pounds of copper, 1.0 million ounces of gold and 92 million pounds of molybdenum. A September 2025 mud rush incident at the Grasberg minerals district impacted FCX's 2025 operations. PTFI restarted the unaffected Deep Mill Level Zone and Big Gossan underground mines in late October 2025.
Costs and margins
- Price, quarter average
- $6.06/lb
- C1 cash cost
- $1.97/lb
- C1 margin
- $4.09/lb
- C1 margin, % of price
- 67.5%
Latest C1 cash cost $1.97 per pound. Copper miners: median C1 cash cost $2.04 per pound, Q2 2026, 14 reporters. 7 lowest of 14 copper miners reporting Q2 2026.
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2025 | $4.45 | $1.40 |
| Q4 2025 | $5.04 | $2.22 |
| Q1 2026 | $5.82 | $1.91 |
| Q2 2026 | $6.06 | $1.97 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2023 | $3.80 | $1.73 |
| $3.71 | $1.52 | |
| Q1 2024 | $3.83 | $1.51 |
| $4.42 | $1.73 | |
| Q3 2024 | $4.17 | $1.39 |
| $4.16 | $1.66 | |
| Q1 2025 | $4.24 | $2.07 |
| $4.32 | $1.13 | |
| Q3 2025 | $4.45 | $1.40 |
| $5.04 | $2.22 | |
| $5.82 | $1.91 | |
| Q2 2026 | $6.06 | $1.97 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2021 | $4.26 | $1.24 |
| $4.40 | $1.29 | |
| $4.53 | $1.33 | |
| Q2 2022 | $4.32 | $1.41 |
| $3.52 | $1.75 | |
| $3.64 | $1.53 | |
| Q1 2023 | $4.06 | $1.76 |
| $3.84 | $1.47 | |
| $3.80 | $1.73 | |
| Q4 2023 | $3.71 | $1.52 |
| $3.83 | $1.51 | |
| $4.42 | $1.73 | |
| Q3 2024 | $4.17 | $1.39 |
| $4.16 | $1.66 | |
| $4.24 | $2.07 | |
| Q2 2025 | $4.32 | $1.13 |
| $4.45 | $1.40 | |
| $5.04 | $2.22 | |
| $5.82 | $1.91 | |
| Q2 2026 | $6.06 | $1.97 |
| Category | Copper price (quarterly average) | C1 cash cost |
|---|---|---|
| Q3 2019 | $2.63 | $1.59 |
| $2.68 | $1.67 | |
| $2.56 | $1.90 | |
| $2.43 | $1.47 | |
| Q3 2020 | $2.96 | $1.32 |
| $3.26 | $1.28 | |
| $3.85 | $1.39 | |
| $4.40 | $1.48 | |
| Q3 2021 | $4.26 | $1.24 |
| $4.40 | $1.29 | |
| $4.53 | $1.33 | |
| $4.32 | $1.41 | |
| Q3 2022 | $3.52 | $1.75 |
| $3.64 | $1.53 | |
| $4.06 | $1.76 | |
| $3.84 | $1.47 | |
| Q3 2023 | $3.80 | $1.73 |
| $3.71 | $1.52 | |
| $3.83 | $1.51 | |
| $4.42 | $1.73 | |
| Q3 2024 | $4.17 | $1.39 |
| $4.16 | $1.66 | |
| $4.24 | $2.07 | |
| $4.32 | $1.13 | |
| $4.45 | $1.40 | |
| $5.04 | $2.22 | |
| $5.82 | $1.91 | |
| Q2 2026 | $6.06 | $1.97 |
C1 cash cost and the average copper price by quarter, newest first, US$ per pound; every row cites the company's own release.
| Quarter | Price avg | C1 cash cost | C1 margin | C1 margin % | Source |
|---|---|---|---|---|---|
| Q2 2026 | $6.06 | $1.97 | $4.09 | 67.5% | release |
| Q1 2026 | $5.82 | $1.91 | $3.91 | 67.2% | release |
| Q4 2025 | $5.04 | $2.22 | $2.82 | 56.0% | release |
| Q3 2025 | $4.45 | $1.40 | $3.05 | 68.5% | release |
| Q2 2025 | $4.32 | $1.13 | $3.19 | 73.8% | release |
| Q1 2025 | $4.24 | $2.07 | $2.17 | 51.2% | release |
| Q4 2024 | $4.16 | $1.66 | $2.50 | 60.1% | release |
| Q3 2024 | $4.17 | $1.39 | $2.78 | 66.7% | release |
| Q2 2024 | $4.42 | $1.73 | $2.69 | 60.9% | release |
| Q1 2024 | $3.83 | $1.51 | $2.32 | 60.6% | release |
| Q4 2023 | $3.71 | $1.52 | $2.19 | 59.0% | release |
| Q3 2023 | $3.80 | $1.73 | $2.07 | 54.5% | release |
| Q2 2023 | $3.84 | $1.47 | $2.37 | 61.7% | release |
| Q1 2023 | $4.06 | $1.76 | $2.30 | 56.6% | release |
| Q4 2022 | $3.64 | $1.53 | $2.11 | 58.0% | release |
| Q3 2022 | $3.52 | $1.75 | $1.77 | 50.3% | release |
| Q2 2022 | $4.32 | $1.41 | $2.91 | 67.4% | release |
| Q1 2022 | $4.53 | $1.33 | $3.20 | 70.6% | release |
| Q4 2021 | $4.40 | $1.29 | $3.11 | 70.7% | release |
| Q3 2021 | $4.26 | $1.24 | $3.02 | 70.9% | release |
| Q2 2021 | $4.40 | $1.48 | $2.92 | 66.4% | release |
| Q1 2021 | $3.85 | $1.39 | $2.46 | 63.9% | release |
| Q4 2020 | $3.26 | $1.28 | $1.98 | 60.7% | release |
| Q3 2020 | $2.96 | $1.32 | $1.64 | 55.4% | release |
| Q2 2020 | $2.43 | $1.47 | $0.96 | 39.5% | release |
| Q1 2020 | $2.56 | $1.90 | $0.66 | 25.8% | release |
| Q4 2019 | $2.68 | $1.67 | $1.01 | 37.7% | release |
| Q3 2019 | $2.63 | $1.59 | $1.04 | 39.5% | release |
Its panel on the Miner Margins page carries the cohort it sits in and the basis notes.
Production and guidance
Q2 2026, as reported
- Copper produced, attributable
- 786 million pounds
- Prior-quarter copper production
- 662 million pounds
- Year-ago copper production
- 963 million pounds
More ways to compare Freeport-McMoRan Inc
- C1 cash cost
- Rank 7 of 14View comparable rankings
Freeport-McMoRan's mines and operations
| Ownership | Jurisdiction | Status | Source | |
|---|---|---|---|---|
| Morenci | 72% | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Bagdad | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Safford (including Lone Star) | wholly owned | Graham County, Arizona | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Sierrita | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Miami | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Chino | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Tyrone | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Henderson | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Climax | wholly owned | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Cerro Verde | 55.08% | Peru | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| El Abra | 51% | Chile | In operation since 1996 | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Grasberg minerals district | 48.76% | Central Papua, Indonesia | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Grasberg minerals district: Grasberg Block Cave underground mine | 48.76% | Not available | Temporarily suspended | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Deep Mill Level Zone (DMLZ) | 48.76% | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Big Gossan | 48.76% | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Kucing Liar | 48.76% | Not available | Long-term mine development activities | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Ajo | 100% | Arizona | Care and maintenance | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Bisbee | Not available | Arizona | Care and maintenance | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Tohono | Not available | Arizona | Care and maintenance | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Twin Buttes | Not available | Arizona | Care and maintenance | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Christmas | 100% | Arizona | Care and maintenance | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Cochise/Bisbee | 100% | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
| Sanchez | 100% | Not available | Not available | 10-K (filed 13 Feb 2026); fiscal year 2025 |
Financials, as filed
Key financials
- Revenue
- $7.0B
- Net income
- $984.0M
- Operating cash flow
- $1.5B
- Cash and equivalents
- $4.1B
- Debt
- $8.2B
- EPS (diluted)
- $0.68
Rounded from the figures as filed; the exact figures, concepts and filings are below.
Figures as filed, with concept, provenance and filing
| Measure | Period | Value | Provenance | Filing |
|---|---|---|---|---|
| Revenue us-gaap:Revenues | FY 2025 | $25,915,000,000 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Revenue us-gaap:Revenues | Q2 2026 | $7,029,000,000 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| Net income us-gaap:NetIncomeLoss | Q2 2026 | $984,000,000 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| EPS (basic) us-gaap:EarningsPerShareBasic | Q2 2026 | $0.68 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| EPS (diluted) us-gaap:EarningsPerShareDiluted | Q2 2026 | $0.68 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| Operating cash flow us-gaap:NetCashProvidedByUsedInOperatingActivities | FY 2025 | $5,610,000,000 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Operating cash flow us-gaap:NetCashProvidedByUsedInOperatingActivities | Q1 2026 | $1,495,000,000 | SEC XBRL, as filed | 10-Q · 8 May 2026 |
| Cash and equivalents us-gaap:CashAndCashEquivalentsAtCarryingValue | FY 2025 | $3,824,000,000 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Cash and equivalents us-gaap:CashAndCashEquivalentsAtCarryingValue | Q2 2026 | $4,080,000,000 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| Debt us-gaap:LongTermDebtNoncurrent | FY 2025 | $8,913,000,000 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Debt us-gaap:LongTermDebtNoncurrent | Q2 2026 | $8,166,000,000 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| Shares outstanding dei:EntityCommonStockSharesOutstanding | Q2 2026 | 1,436,017,523 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
| Dividends paid us-gaap:PaymentsOfDividendsCommonStock | FY 2025 | $865,000,000 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Dividends paid us-gaap:PaymentsOfDividendsCommonStock | Q1 2026 | $218,000,000 | SEC XBRL, as filed | 10-Q · 8 May 2026 |
| Dividend per share us-gaap:CommonStockDividendsPerShareDeclared | FY 2025 | $0.60 | SEC XBRL, as filed | 10-K · 13 Feb 2026 |
| Dividend per share us-gaap:CommonStockDividendsPerShareDeclared | Q2 2026 | $0.15 | SEC XBRL, as filed | 10-Q · 6 Aug 2026 |
Seven-year statement history
Each fiscal year as the company first filed it with the SEC, in the currency it filed, never converted.
| Statement line | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | not available | $25,455,000,000 | $22,855,000,000 | $22,780,000,000 | $22,845,000,000 | $14,198,000,000 | $14,402,000,000 |
| Operating income | not available | not available | not available | not available | not available | not available | not available |
| Net income | not available | not available | not available | not available | not available | not available | not available |
| Operating cash flow | not available | $7,160,000,000 | $5,279,000,000 | $5,139,000,000 | $7,715,000,000 | $3,017,000,000 | $1,482,000,000 |
| Capital expenditure | not available | not available | not available | not available | not available | not available | not available |
| Cash and equivalents | not available | $3,923,000,000 | $4,758,000,000 | $8,146,000,000 | $8,068,000,000 | $3,657,000,000 | $2,020,000,000 |
| Debt | not available | $8,907,000,000 | $8,656,000,000 | $9,583,000,000 | $9,078,000,000 | $9,677,000,000 | $9,821,000,000 |
| Dividend per share | not available | $0.60 | $0.60 | $0.60 | $0.38 | $0.00 | $0.20 |
| Source | not available | 10-K · 14 Feb 2025 | 10-K · 16 Feb 2024 | 10-K · 15 Feb 2023 | 10-K · 15 Feb 2022 | 10-K · 16 Feb 2021 | 10-K · 14 Feb 2020 |
- A dash means the SEC filings carry no figure for that year. It is never zero.
Copper reserves
Filings
| Date | Source |
|---|---|
| 6 Aug 2026 | 10-Q(6 Aug 2026) |
| 23 Jul 2026 | 8-K(23 Jul 2026) |
| 10 Jun 2026 | 8-K(10 Jun 2026) |
| 20 May 2026 | 8-K(20 May 2026) |
| 8 May 2026 | 10-Q(8 May 2026) |
| 23 Apr 2026 | 8-K(23 Apr 2026) |
How to read this page
Costs are the company's own consolidated all-in sustaining cost (gold, silver) or C1 cash cost (copper), as stated, on the basis the company states; the reference price is the quarter's average from World Bank Commodity Price Data (CC BY 4.0); the margin is that price less the stated cost, a production-cost spread and not company net profit; financials are as filed in the filing currency, never converted; report dates are confirmed from the company's notice or estimated from its own past pattern and say which. The full methodology is on the Miner Margins page.