Freeport-McMoran Copper & Gold Inc (FCX)
Quick 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 | 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 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 |
| Quick 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
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, a measure of its short-term liquidity and ability to meet immediate obligations, has fluctuated over the years.
From March 31, 2020, to December 31, 2020, the quick ratio showed improvement from 0.51 to 1.07, indicating a better ability to cover current liabilities with quick assets. This improvement continued into June 30, 2021, reaching a ratio of 1.14 and further strengthening to 1.39 by September 30, 2021.
By the end of June 30, 2022, the quick ratio peaked at 1.60, indicating a significant improvement in liquidity. However, the ratio started to decline slightly in the following periods but remained above 1, signaling a healthy liquidity position.
As of December 31, 2024, the quick ratio dropped to 0.71, indicating that the company may be less capable of covering its short-term obligations with its most liquid assets. It would be advisable for stakeholders to monitor the trend in the quick ratio to assess Freeport-McMoRan's ability to manage its short-term liquidity effectively.
Peer comparison
Dec 31, 2024
See also:
Freeport-McMoran Copper & Gold Inc Quick Ratio (Quarterly Data)