Freeport-McMoran Copper & Gold Inc (FCX)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,848,000 | 3,468,000 | 6,424,000 | 599,000 | -239,000 |
| Revenue | US$ in thousands | 22,855,000 | 22,780,000 | 22,845,000 | 14,198,000 | 14,402,000 |
| Net profit margin | 8.09% | 15.22% | 28.12% | 4.22% | -1.66% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $1,848,000K ÷ $22,855,000K
= 8.09%
Freeport-McMoRan Inc's net profit margin has shown fluctuations over the past five years. In 2019, the company had a negative net profit margin of -1.66%, indicating that its expenses exceeded its revenue. However, by 2021, the net profit margin had significantly improved to 18.82%, reflecting a strong profitability as the company effectively managed its costs relative to its revenue.
In 2022, the net profit margin slightly decreased to 15.19%, indicating a small decline in profitability compared to the previous year. By the end of 2023, the net profit margin further decreased to 8.06%, suggesting a continued decrease in profitability for the company that year.
Overall, while Freeport-McMoRan Inc's net profit margin has shown variability, the company has demonstrated the ability to achieve high levels of profitability in certain years. It is important for the company to closely monitor its expenses and revenue generation to sustain and improve its profit margins in the future.
Peer comparison
Dec 31, 2023