Freeport-McMoRan (FCX) FY2015 results: revenue $14.6 billion, down 27.0% on the year
Freeport-McMoRan Inc. (FCX) reported revenue of $14.6 billion for fiscal 2015, the year ended 31 December 2015, down 27.0% on the year before. Net income was -$12.2 billion, and diluted earnings per share $-11.31. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$14.6 billion
-27.0% on the year
FY2011FY2015
Operating margin
-92.5%
-1.5% a year earlier
FY2011FY2015
Net income
-$12.2 billion
FY2011FY2015
Diluted EPS
-$11.31
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
14,607
20,001
19,331
-27.0%
Cost of revenue
27,415
18,494
13,632
+48.2%
Gross profit
-12,808
1,507
5,699
Gross margin
-87.7%
7.5%
29.5%
Selling, general and administrative
558
580
645
-3.8%
Operating income
-13,512
-298
4,820
Operating margin
-92.5%
-1.5%
24.9%
Pre-tax income
-14,128
-800
4,390
Income tax
-1,951
225
1,340
Effective tax rate
n/a
n/a
30.5%
Net income
-12,236
-1,308
2,658
Net margin
-83.8%
-6.5%
13.7%
Diluted EPS
-$11.31
-$1.26
$2.64
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,220
5,631
6,139
-42.8%
Capital expenditure
6,353
7,215
5,286
-11.9%
Free cash flow
-3,133
-1,584
853
Free cash flow margin
-21.4%
-7.9%
4.4%
Cash from investing
-6,246
-3,801
-10,908
Cash from financing
2,786
-3,351
3,049
Depreciation and amortisation
3,497
3,863
2,797
-9.5%
Share-based compensation
85.0
106
173
-19.8%
Dividends paid
605
1,305
2,281
-53.6%
Dividend per share
$0.26
$1.25
$2.25
-79.2%
Diluted shares, weighted
1,082m
1,039m
1,006m
+4.1%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
7,828
18,287
20,934
-57.2%
Non-controlling interest
4,216
4,187
4,297
+0.7%
Redeemable equity
764
751
716
+1.7%
Debt
20,324
18,849
20,706
+7.8%
Other liabilities
13,445
16,600
16,820
-19.0%
Total liabilities and equity
46,577
58,674
63,473
-20.6%
Fixed assets
23,986
22,927
24,042
+4.6%
Goodwill
n/a
0.0
1,916
Intangible assets
316
334
380
-5.4%
Investments
47.0
46.0
44.0
+2.2%
Cash and equivalents
177
298
1,864
-40.6%
Receivables
645
940
1,728
-31.4%
Inventory
n/a
n/a
5,018
Other assets
21,406
34,129
28,481
-37.3%
Total assets
46,577
58,674
63,473
-20.6%
10-K for the year ended 31 December 2015, filed 24 February 2017: the filing.