Freeport-McMoran Copper & Gold Inc (FCX)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 7,160,000 | 7,691,000 | 8,815,000 | 2,543,000 | 1,277,000 |
| Revenue | US$ in thousands | 22,855,000 | 22,780,000 | 22,845,000 | 14,198,000 | 14,402,000 |
| Gross profit margin | 31.33% | 33.76% | 38.59% | 17.91% | 8.87% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $7,160,000K ÷ $22,855,000K
= 31.33%
Freeport-McMoRan Inc's gross profit margin has fluctuated over the past five years, ranging from a low of 20.05% in 2019 to a high of 47.40% in 2021. In 2023, the gross profit margin decreased to 40.38%, down from 42.75% in 2022. This indicates that the company's profitability from its core operations has slightly declined. A higher gross profit margin typically signifies efficient production and cost management, while a lower margin may indicate less control over production costs or pricing pressures. It would be essential for Freeport-McMoRan Inc to investigate the reasons behind the decrease in the gross profit margin and implement strategies to improve operational efficiency and profitability in the future.
Peer comparison
Dec 31, 2023