Freeport-McMoran Copper & Gold Inc (FCX)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 16,693,000 | 16,459,000 | 16,202,000 | 16,057,000 | 15,555,000 | 14,954,000 | 14,889,000 | 14,866,000 | 13,980,000 | 13,353,000 | 12,011,000 | 10,920,000 | 10,174,000 | 9,236,000 | 8,954,000 | 8,855,000 | 9,298,000 | 9,444,000 | 9,709,000 | 9,783,000 |
| Debt-to-capital ratio | 0.34 | 0.36 | 0.37 | 0.37 | 0.38 | 0.39 | 0.40 | 0.36 | 0.39 | 0.40 | 0.42 | 0.46 | 0.49 | 0.52 | 0.52 | 0.53 | 0.51 | 0.51 | 0.51 | 0.50 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $8,656,000K ÷ ($8,656,000K + $16,693,000K)
= 0.34
The debt-to-capital ratio of Freeport-McMoRan Inc has been relatively stable over the past eight quarters, ranging from 0.36 to 0.43. A lower debt-to-capital ratio indicates a lower proportion of debt in the company's capital structure compared to equity, which can be seen as less risky and more financially stable.
The trend suggests that the company has maintained a moderate level of debt in relation to its capital base. While the ratio increased slightly in the most recent quarter compared to the prior one, it is still within a reasonable range.
Overall, the consistent debt-to-capital ratio indicates that Freeport-McMoRan Inc has been managing its debt levels effectively and maintaining a balanced capital structure. It is essential for investors and stakeholders to continue monitoring this ratio to assess the company's financial leverage and risk profile.
Peer comparison
Dec 31, 2023
See also:
Freeport-McMoran Copper & Gold Inc Debt to Capital (Quarterly Data)