Freeport-McMoran Copper & Gold Inc (FCX)
Current ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 14,065,000 | 14,077,000 | 14,057,000 | 14,746,000 | 15,613,000 | 15,373,000 | 16,182,000 | 15,302,000 | 14,830,000 | 13,791,000 | 12,599,000 | 10,856,000 | 9,303,000 | 8,071,000 | 7,155,000 | 7,357,000 | 7,915,000 | 8,347,000 | 8,730,000 | 9,045,000 |
| Total current liabilities | US$ in thousands | 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 | 3,209,000 | 3,381,000 | 3,286,000 | 3,247,000 |
| Current ratio | 2.42 | 2.90 | 2.94 | 2.79 | 2.46 | 2.56 | 2.73 | 2.37 | 2.52 | 2.50 | 2.28 | 2.35 | 2.72 | 2.61 | 2.46 | 2.34 | 2.47 | 2.47 | 2.66 | 2.79 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $14,065,000K ÷ $5,815,000K
= 2.42
Freeport-McMoRan Inc's current ratio has shown some variability over the last 8 quarters, ranging from a low of 2.37 in Q1 2022 to a high of 2.94 in Q2 2023. Generally, the company has maintained a healthy current ratio above 2, indicating that it has more than enough current assets to cover its short-term liabilities. The upward trend in the current ratio from Q1 2023 to Q2 2023 suggests an improvement in liquidity and the company's ability to meet its short-term obligations. However, it is important to note the fluctuations in the current ratio, which may warrant further investigation into the company's working capital management and liquidity position.
Peer comparison
Dec 31, 2023
See also:
Freeport-McMoran Copper & Gold Inc Current Ratio (Quarterly Data)