What is the primary revenue source for Freeport-McMoRan (FCX)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze FCX's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Freeport-McMoRan's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Freeport-McMoRan Makes Money: FCX Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Neutral

Revenue and operating profit showed little change or moved in different directions year over year, with no clear trend.

Operating margin improved by 3.15 percentage points year over year.

Revenue: USD 13.26B
Largest revenue segment share (Copper Cathode): 35.41%
Cost of revenue: USD 9.42B
Income tax expense: USD 1.20B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueRevenues · Revenues
Cost of revenueTotal cost of sales · CostOfRevenue
Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit
Largest revenue segment share (Copper Cathode)Copper Cathode · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Property, plant and equipment: USD 41.70B
Cash and cash equivalents: USD 4.08B
Accounts receivable: USD 716.00M
Total liabilities: USD 27.50B
Shareholder equity: USD 32.22B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Property, plant and equipmentProperty, plant, equipment and mine development costs, net · PropertyPlantAndEquipmentNet
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
Accounts receivableAccounts receivable, after allowance for credit loss, current · AccountsReceivableNetCurrent
Cash and cash equivalentsCash and cash equivalent · CashAndCashEquivalentsAtCarryingValue

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 189.97% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 1.86B
Operating cash flow: USD 3.54B
Cash conversion: 189.97%
Free cash flow: USD 3.05B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to common stockholders · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 434.00M
Share repurchases: USD 203.00M
Stock issuance proceeds: USD 22.00M
Net shareholder return: USD 615.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsProceeds from exercised stock options · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?