Freeport-McMoran Copper & Gold Inc (FCX)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 8,656,000 | 9,583,000 | 9,078,000 | 9,677,000 | 9,821,000 |
| Total stockholders’ equity | US$ in thousands | 16,693,000 | 15,555,000 | 13,980,000 | 10,174,000 | 9,298,000 |
| Debt-to-equity ratio | 0.52 | 0.62 | 0.65 | 0.95 | 1.06 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $8,656,000K ÷ $16,693,000K
= 0.52
The debt-to-equity ratio of Freeport-McMoRan Inc has fluctuated over the past five years. In 2023, the ratio improved to 0.56 from 0.68 in 2022, indicating a decrease in debt relative to equity. This suggests that the company may have reduced its debt levels or increased its equity position during this period. The trend from 2020 to 2023 shows a positive move towards a more favorable debt structure, as the ratio declined steadily from 0.95 to 0.56. Additionally, the ratio has improved significantly compared to the high of 1.06 in 2019, reflecting a potentially stronger financial position with lower leverage. Overall, the decreasing trend in the debt-to-equity ratio of Freeport-McMoRan Inc indicates improved financial health and a more conservative capital structure in recent years.
Peer comparison
Dec 31, 2023