Freeport-McMoRan (FCX) FY2023 results: revenue $22.9 billion, up 0.3% on the year
Freeport-McMoRan Inc. (FCX) reported revenue of $22.9 billion for fiscal 2023, the year ended 31 December 2023, up 0.3% on the year before. Net income was $1.8 billion, down 46.7%. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$22.9 billion
+0.3% on the year
FY2016FY2023
Operating margin
27.2%
30.9% a year earlier
FY2016FY2023
Net income
$1.8 billion
-46.7% on the year
FY2016FY2023
Diluted EPS
n/a
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
5,279
5,139
7,715
+2.7%
Capital expenditure
4,824
3,469
2,115
+39.1%
Free cash flow
455
1,670
5,600
-72.8%
Free cash flow margin
2.0%
7.3%
24.5%
Cash from investing
-4,956
-3,440
-1,964
Cash from financing
-2,650
-1,623
-1,340
Depreciation and amortisation
2,068
2,019
1,998
+2.4%
Share-based compensation
109
95.0
98.0
+14.7%
Buybacks
0.0
1,347
488
Dividends paid
863
866
331
-0.3%
Dividend per share
$0.60
$0.60
$0.38
0.0%
Diluted shares, weighted
1,443m
1,451m
1,482m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
16,693
15,555
13,980
+7.3%
Non-controlling interest
10,617
9,316
9,039
+14.0%
Debt
9,422
10,620
9,450
-11.3%
Operating lease liabilities
347
294
281
+18.0%
Other liabilities
15,427
15,308
15,272
+0.8%
Total liabilities and equity
52,506
51,093
48,022
+2.8%
Fixed assets
35,295
32,627
30,345
+8.2%
Intangible assets
422
416
412
+1.4%
Investments
84.0
79.0
74.0
+6.3%
Cash and equivalents
4,758
8,146
8,068
-41.6%
Receivables
1,209
1,336
1,168
-9.5%
Other assets
10,738
8,489
7,955
+26.5%
Total assets
52,506
51,093
48,022
+2.8%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.