Freeport-McMoran Copper & Gold Inc (FCX)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 3,923,000 | 5,000,000 | 6,203,000 | 6,142,000 | 5,666,000 | 5,745,000 | 6,683,000 | 6,852,000 | 8,146,000 | 8,578,000 | 9,492,000 | 8,338,000 | 8,068,000 | 7,672,000 | 6,313,000 | 4,580,000 | 3,657,000 | 2,403,000 | 1,465,000 | 1,602,000 |
| Short-term investments | US$ in thousands | — | 1,117,000 | 100,000 | 100,000 | 300,000 | 300,000 | — | — | 500,000 | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 5,496,000 | 6,247,000 | 6,136,000 | 6,305,000 | 5,815,000 | 4,860,000 | 4,788,000 | 5,281,000 | 6,345,000 | 5,999,000 | 5,932,000 | 6,454,000 | 5,892,000 | 5,523,000 | 5,527,000 | 4,611,000 | 3,417,000 | 3,096,000 | 2,906,000 | 3,143,000 |
| Cash ratio | 0.71 | 0.98 | 1.03 | 0.99 | 1.03 | 1.24 | 1.40 | 1.30 | 1.36 | 1.43 | 1.60 | 1.29 | 1.37 | 1.39 | 1.14 | 0.99 | 1.07 | 0.78 | 0.50 | 0.51 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($3,923,000K
+ $—K)
÷ $5,496,000K
= 0.71
The cash ratio of Freeport-McMoRan Copper & Gold Inc has shown fluctuations over the recorded periods. The cash ratio measures the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
Starting from March 31, 2020, the cash ratio was 0.51, indicating that the company had $0.51 in cash and cash equivalents for every $1 of current liabilities. The ratio remained relatively stable around 0.50-0.78 until December 31, 2020. It then increased significantly to 1.07 by the end of December 2020, reflecting a substantial improvement in the company's liquidity position.
Throughout 2021 and into 2022, the cash ratio continued to improve, reaching as high as 1.60 by June 30, 2022, indicating a strengthening liquidity position for Freeport-McMoRan Copper & Gold Inc. However, the ratio experienced a slight decrease by the end of 2023 to 1.03, likely due to changes in the company's cash holdings and liabilities.
By the end of December 31, 2024, the cash ratio had decreased to 0.71, suggesting a potential increase in current liabilities compared to available cash and cash equivalents. It would be prudent for stakeholders to monitor the company's cash management and liquidity position to ensure it remains able to meet its short-term obligations effectively.
Peer comparison
Dec 31, 2024
See also:
Freeport-McMoran Copper & Gold Inc Cash Ratio (Quarterly Data)