Freeport-McMoRan (FCX) FY2016 results: revenue $14.8 billion, up 1.5% on the year
Freeport-McMoRan Inc. (FCX) reported revenue of $14.8 billion for fiscal 2016, the year ended 31 December 2016, up 1.5% on the year before. Net income was -$4.2 billion, and diluted earnings per share $-3.16. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$14.8 billion
+1.5% on the year
FY2011FY2016
Operating margin
-18.4%
-92.5% a year earlier
FY2011FY2016
Net income
-$4.2 billion
FY2011FY2016
Diluted EPS
-$3.16
FY2011FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
14,830
14,607
20,001
+1.5%
Cost of revenue
17,534
27,415
18,494
-36.0%
Gross profit
-2,704
-12,808
1,507
Gross margin
-18.2%
-87.7%
7.5%
Selling, general and administrative
597
558
580
+7.0%
Operating income
-2,729
-13,512
-298
Operating margin
-18.4%
-92.5%
-1.5%
Pre-tax income
-3,472
-14,128
-800
Income tax
371
-1,951
225
Net income
-4,154
-12,236
-1,308
Net margin
-28.0%
-83.8%
-6.5%
Diluted EPS
-$3.16
-$11.31
-$1.26
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,737
3,220
5,631
+16.1%
Capital expenditure
2,813
6,353
7,215
-55.7%
Free cash flow
924
-3,133
-1,584
Free cash flow margin
6.2%
-21.4%
-7.9%
Cash from investing
3,550
-6,246
-3,801
Cash from financing
-3,166
2,786
-3,351
Depreciation and amortisation
2,610
3,497
3,863
-25.4%
Share-based compensation
86.0
85.0
106
+1.2%
Dividends paid
6.0
605
1,305
-99.0%
Dividend per share
$0.00
$0.26
$1.25
Diluted shares, weighted
1,318m
1,082m
1,039m
+21.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,051
7,828
18,287
-22.7%
Non-controlling interest
3,206
4,216
4,187
-24.0%
Redeemable equity
0.0
764
751
Debt
16,027
20,324
18,849
-21.1%
Other liabilities
12,033
13,445
16,600
-10.5%
Total liabilities and equity
37,317
46,577
58,674
-19.9%
Fixed assets
23,219
23,986
22,927
-3.2%
Goodwill
n/a
n/a
0.0
Intangible assets
305
316
334
-3.5%
Investments
50.0
47.0
46.0
+6.4%
Cash and equivalents
4,245
177
298
+2,298.3%
Receivables
1,126
645
940
+74.6%
Other assets
8,372
21,406
34,129
-60.9%
Total assets
37,317
46,577
58,674
-19.9%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.