Today, Freeport-McMoRan has released its 10-K report. Freeport-McMoRan Inc. is a mining company that explores for copper, gold, molybdenum, silver, and other metals in North America, South America, and Indonesia. The company's assets include various minerals districts and mines across these regions. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Following this announcement, the company's shares have moved 3.2% on the market, and are now trading at a price of $39.45.
In the annual report, Freeport-McMoRan reported that it has 15,506,281 securities to be issued upon the exercise of outstanding options, warrants, and rights, with a weighted-average exercise price of $15.62. The company also has 20,488,378 securities remaining available for future issuance under equity compensation plans, excluding securities reflected in the issued securities. Additionally, the report highlights the number of securities to be issued under awards assumed in the acquisition of McMoRan Exploration Co. The report also mentions the incorporation of other necessary information by reference to “Stock Ownership of Directors and Executive Officers” and “Stock Ownership of Certain Beneficial Owners” in their definitive proxy statement to be filed with the SEC, relating to their 2024 annual meeting of stockholders.
For more information, read the company's full 10-K submission here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $18,628 | $14,402 | $14,198 | $22,845 | $22,780 | $22,708 |
| Operating Margins | 26% | 8% | 17% | 37% | 31% | 27% |
| Net Margins | 16% | -1% | 6% | 23% | 20% | 16% |
| Net Income (M) | $2,894 | -$189 | $865 | $5,365 | $4,479 | $3,721 |
| Net Interest Expense (M) | -$945 | -$620 | -$598 | -$602 | -$560 | -$555 |
| Depreciation & Amort. (M) | $1,754 | $1,412 | $1,528 | $1,998 | $2,019 | $1,994 |
| Diluted Shares (M) | 1,457 | 1,457 | 1,461 | 1,482 | 1,451 | 1,443 |
| Earnings Per Share | $1.78 | -$0.17 | $0.41 | $2.9 | $3.09 | $2.58 |
| EPS Growth | n/a | -109.55% | 341.18% | 607.32% | 6.55% | -16.5% |
| Avg. Price | $14.82 | $10.84 | $13.42 | $35.42 | $40.96 | $38.25 |
| P/E Ratio | 8.28 | -63.76 | 32.73 | 12.09 | 13.3 | 14.71 |
| Free Cash Flow (M) | $1,892 | -$1,170 | $1,056 | $5,600 | $1,670 | $519 |
| CAPEX (M) | $1,971 | $2,652 | $1,961 | $2,115 | $3,469 | $4,509 |
| EV / EBITDA | 4.36 | 13.32 | 8.88 | 5.99 | 7.91 | 7.27 |
| Total Debt (M) | $11,128 | $19,647 | $19,388 | $18,528 | $20,203 | $9,405 |
| Net Debt / EBITDA | 1.06 | 7.04 | 3.97 | 1.01 | 1.33 | 0.46 |
| Current Ratio | 3.14 | 2.47 | 2.72 | 2.52 | 2.46 | 2.9 |
