Freeport-McMoran Copper & Gold Inc (FCX)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 14,065,000 | 15,613,000 | 14,830,000 | 9,303,000 | 7,915,000 |
| Total current liabilities | US$ in thousands | 5,815,000 | 6,345,000 | 5,892,000 | 3,417,000 | 3,209,000 |
| Current ratio | 2.42 | 2.46 | 2.52 | 2.72 | 2.47 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $14,065,000K ÷ $5,815,000K
= 2.42
The current ratio of Freeport-McMoRan Inc has shown a fluctuating trend over the past five years. The ratio decreased from 2.47 in 2019 to 2.42 in 2023, indicating a decrease in the company's ability to cover its short-term obligations with its current assets. However, it is worth noting that in 2020, the current ratio was relatively high at 2.72, suggesting a strong liquidity position at that time. The subsequent decrease in the ratio from 2020 to 2023 may raise concerns about the company's ability to meet its short-term liabilities in the near future. Overall, while the current ratio of Freeport-McMoRan Inc has fluctuated, it is important to assess other financial indicators in conjunction with this ratio to get a comprehensive understanding of the company's liquidity position.
Peer comparison
Dec 31, 2023