Freeport-McMoran Copper & Gold Inc (FCX)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 8,656,000 | 9,370,000 | 9,458,000 | 9,586,000 | 9,583,000 | 9,658,000 | 10,054,000 | 8,256,000 | 9,078,000 | 8,768,000 | 8,638,000 | 9,153,000 | 9,677,000 | 9,983,000 | 9,824,000 | 9,829,000 | 9,821,000 | 9,915,000 | 9,912,000 | 9,902,000 |
| Total assets | US$ in thousands | 52,506,000 | 51,648,000 | 50,907,000 | 50,909,000 | 51,093,000 | 49,927,000 | 50,113,000 | 48,832,000 | 48,022,000 | 46,917,000 | 45,436,000 | 43,643,000 | 42,144,000 | 41,099,000 | 40,230,000 | 40,219,000 | 40,809,000 | 40,943,000 | 41,086,000 | 41,059,000 |
| Debt-to-assets ratio | 0.16 | 0.18 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.17 | 0.19 | 0.19 | 0.19 | 0.21 | 0.23 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $8,656,000K ÷ $52,506,000K
= 0.16
The debt-to-assets ratio for Freeport-McMoRan Inc has shown a consistent trend of improvement over the past eight quarters, decreasing from 0.22 in Q2 2022 to 0.18 in Q4 2023. This indicates that the company has been able to reduce its reliance on debt to finance its operations and investments, while strengthening its asset base. The decreasing trend suggests that Freeport-McMoRan Inc is managing its debt levels effectively and potentially lowering its financial risk over time.
Peer comparison
Dec 31, 2023
Company name
Symbol
Debt-to-assets ratio
Freeport-McMoran Copper & Gold Inc
FCX
0.16
Cleveland-Cliffs Inc
CLF
0.18
MP Materials Corp
MP
0.29
See also:
Freeport-McMoran Copper & Gold Inc Debt to Assets (Quarterly Data)