Freeport-McMoran Copper & Gold Inc (FCX)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 4,118,000 | 5,735,000 | 8,723,000 | 1,543,000 | 271,000 |
| Revenue | US$ in thousands | 22,855,000 | 22,780,000 | 22,845,000 | 14,198,000 | 14,402,000 |
| Pretax margin | 18.02% | 25.18% | 38.18% | 10.87% | 1.88% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $4,118,000K ÷ $22,855,000K
= 18.02%
The pretax margin for Freeport-McMoRan Inc has exhibited fluctuating trends over the past five years. In 2023, the pretax margin decreased to 26.34% from 29.61% in 2022, indicating a slight decline in profitability before considering taxes. However, compared to the earlier years, the pretax margin remains significantly higher than the levels seen in 2020 and 2019, reflecting improved performance in recent years. The significant increase from 2019 to 2021, where the pretax margin rose from 2.21% to 33.55%, highlights a substantial improvement in the company's ability to generate profits before accounting for tax expenses. Despite the slight decline in 2023, the overall trend suggests a positive trajectory in Freeport-McMoRan Inc's profitability over the period under review.
Peer comparison
Dec 31, 2023