Freeport-McMoran Copper & Gold Inc (FCX)
Quick ratio
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 3,923,000 | 4,758,000 | 8,146,000 | 8,068,000 | 3,657,000 |
| Short-term investments | US$ in thousands | — | 300,000 | 500,000 | — | — |
| Receivables | US$ in thousands | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 5,496,000 | 5,815,000 | 6,345,000 | 5,892,000 | 3,417,000 |
| Quick ratio | 0.71 | 0.87 | 1.36 | 1.37 | 1.07 |
December 31, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($3,923,000K
+ $—K
+ $—K)
÷ $5,496,000K
= 0.71
The quick ratio of Freeport-McMoran Copper & Gold Inc has shown fluctuations over the past five years. The quick ratio indicates the company's ability to meet its short-term liabilities with its most liquid assets.
In December 2020, the quick ratio was 1.07, suggesting that the company had just enough liquid assets to cover its current liabilities. This ratio improved in December 2021 to 1.37, indicating a stronger liquidity position.
However, by December 2023, the quick ratio decreased to 0.87, raising concerns about the company's ability to meet its short-term obligations. This downward trend continued into December 2024, with the quick ratio dropping further to 0.71, signaling a potential liquidity risk.
Overall, the quick ratio of Freeport-McMoran Copper & Gold Inc has been fluctuating, and the recent decline raises questions about the company's ability to cover its immediate liabilities with its liquid assets effectively.
Peer comparison
Dec 31, 2024