Freeport-McMoRan (FCX) FY2017 results: revenue $16.4 billion, up 10.6% on the year
Freeport-McMoRan Inc. (FCX) reported revenue of $16.4 billion for fiscal 2017, the year ended 31 December 2017, up 10.6% on the year before. Net income was $1.8 billion, and diluted earnings per share $1.25. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2018.
Revenue
$16.4 billion
+10.6% on the year
FY2011FY2017
Operating margin
22.5%
-18.4% a year earlier
FY2011FY2017
Net income
$1.8 billion
FY2011FY2017
Diluted EPS
$1.25
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
16,403
14,830
14,607
+10.6%
Cost of revenue
11,980
17,534
27,415
-31.7%
Gross profit
4,423
-2,704
-12,808
Gross margin
27.0%
-18.2%
-87.7%
Selling, general and administrative
477
597
558
-20.1%
Operating income
3,690
-2,729
-13,512
Operating margin
22.5%
-18.4%
-92.5%
Pre-tax income
2,902
-3,472
-14,128
Income tax
883
371
-1,951
+138.0%
Effective tax rate
30.4%
n/a
n/a
Net income
1,817
-4,154
-12,236
Net margin
11.1%
-28.0%
-83.8%
Diluted EPS
$1.25
-$3.16
-$11.31
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,666
3,737
3,220
+24.9%
Capital expenditure
1,410
2,813
6,353
-49.9%
Free cash flow
3,256
924
-3,133
+252.4%
Free cash flow margin
19.9%
6.2%
-21.4%
Cash from investing
-1,321
3,550
-6,246
Cash from financing
-3,055
-3,166
2,786
Depreciation and amortisation
1,714
2,610
3,497
-34.3%
Share-based compensation
71.0
86.0
85.0
-17.4%
Dividends paid
2.0
6.0
605
-66.7%
Dividend per share
$0.00
$0.00
$0.26
Diluted shares, weighted
1,454m
1,318m
1,082m
+10.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
7,977
6,051
7,828
+31.8%
Non-controlling interest
3,319
3,206
4,216
+3.5%
Redeemable equity
n/a
0.0
764
Debt
13,229
16,027
20,324
-17.5%
Other liabilities
12,777
12,033
13,445
+6.2%
Total liabilities and equity
37,302
37,317
46,577
-0.0%
Fixed assets
22,994
23,219
23,986
-1.0%
Intangible assets
307
305
316
+0.7%
Investments
30.0
50.0
47.0
-40.0%
Cash and equivalents
4,526
4,245
177
+6.6%
Receivables
1,322
1,126
645
+17.4%
Other assets
8,123
8,372
21,406
-3.0%
Total assets
37,302
37,317
46,577
-0.0%
10-K for the year ended 31 December 2017, filed 20 February 2018: the filing.