Freeport-McMoran Copper & Gold Inc (FCX)
Pretax margin
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 4,118,000 | 4,260,000 | 4,017,000 | 4,546,000 | 6,489,000 | 9,084,000 | 10,392,000 | 10,667,000 | 8,723,000 | 6,193,000 | 4,792,000 | 3,255,000 | 1,543,000 | 562,000 | -180,000 | -416,000 | 271,000 | -241,000 | 953,000 | 2,590,000 |
| Revenue (ttm) | US$ in thousands | 22,855,000 | 22,708,000 | 21,887,000 | 21,566,000 | 22,780,000 | 23,186,000 | 24,266,000 | 24,598,000 | 22,845,000 | 21,176,000 | 18,944,000 | 16,250,000 | 14,198,000 | 13,614,000 | 12,916,000 | 13,408,000 | 14,402,000 | 14,175,000 | 15,930,000 | 17,552,000 |
| Pretax margin | 18.02% | 18.76% | 18.35% | 21.08% | 28.49% | 39.18% | 42.83% | 43.37% | 38.18% | 29.25% | 25.30% | 20.03% | 10.87% | 4.13% | -1.39% | -3.10% | 1.88% | -1.70% | 5.98% | 14.76% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $4,118,000K ÷ $22,855,000K
= 18.02%
The pretax margin of Freeport-McMoRan Inc has shown a declining trend over the past eight quarters, starting at 36.57% in Q1 2022 and decreasing to 26.34% in Q4 2023. This indicates a decrease in the company's ability to generate profits before accounting for taxes and suggests potential challenges in managing operating expenses or maintaining revenue growth. Further analysis of the company's cost structure and revenue generation strategies may be warranted to address this declining trend.
Peer comparison
Dec 31, 2023
Company name
Symbol
Pretax margin
Freeport-McMoran Copper & Gold Inc
FCX
18.02%
Cleveland-Cliffs Inc
CLF
2.49%
MP Materials Corp
MP
13.37%