Freeport-McMoRan Inc. — Intrinsic Value & Fair Price

FCX

NYSEBasic MaterialsCopperCIK 0000831259fcx.comAbout FCX

Last close · Oct 16, 202669.54−0.52 (−0.74%)

Market cap$100.0B

Model value · DCF · Perpetuity growth · 5y

50.90

Freeport-McMoRan closed at $69.54 — overvalued by 37% vs model.

36.26the model's range86.18

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models

13.10 – 95.31

Wall St. target

75.00 7% below

Above model, 1y

20 of 20 days

Price and model value

Loading chart…

What the marks mean

Daily close

Valuation models

price $69.54 · as of Oct 17, 2026

DCF · Perpetuity growth · 5yused36.26 – 86.1850.9037% overvalued DCF · Perpetuity growth · 10y46.90 – 109.4365.406% overvalued DCF · EBITDA exit · 5y48.48 – 127.1784.5218% undervalued DCF · EBITDA exit · 10y56.38 – 148.1495.3127% undervalued P/E · peers45.47 – 50.3146.7349% overvalued P/E · own history38.14 – 57.0443.4260% overvalued PEG—25.05178% overvalued EV/EBITDA · peers50.49 – 58.0851.2636% overvalued EV/Revenue · peers76.28 – 89.1484.2817% undervalued Dividend discount9.52 – 17.8913.10431% overvalued Wall St. consensus target—75.007% below Cost of capital (WACC)—9.71%—

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026

Yield, trailing 12 months

0.76%

Past 2 years

low 0.75%high 2.06%

Dividends per share, a year at a time

Dividends / free cash flow, FY2025: 77.5%
Raised: —
Growth, 5 yrs: 14.0% a year
Last change: −46.7% · Oct 2026

Every payment, with ex-dates · latest $0.08, paid Nov 2, 2026

Research on FCX

No posts on FCX yet.

Studied FCX from its filings? Guest posts are reviewed before they go live.Write about FCX →

How it is valued

Valued asCyclical

Low/slowing growth (~5% recent)Moderate margins (16% net margin)Highly cyclical earnings

What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for cyclical companies

P/E

—

EV / EBITDA

12.3×

FCF yield

1.1%

Dividend yield, TTM

0.76%

Beta

1.39

Cost of capital (WACC)

9.71%

Full financials

Superinvestors

13F · Q2 2026

Howard MarksOaktree Capital Management LP$75.5M SorosSoros Fund Management LLC$3.9M

All 2 holders

Analyst actions

third-party, quoted

10-08UBS · target88.00

10-07Morgan Stanley · target75.00

10-06Barclays · target83.00

04-24Morgan Stanley · “Equal Weight” from “Overweight”downgrade

Ratings, targets and estimates

Recent

filings, insider trades and key news

10-028-K · 2.02Results of Operations (Earnings)10-01Form 4 · AGRANT HUGH · 482 sh@ 70.00 10-01Form 4 · ASTEPHENS JOHN JOSEPH · 294 sh@ 70.00 09-088-K · 8.01Other Events 08-27Form 4 · SKENNARD LYDIA H · 3,798 sh@ 79.11 08-25Form 4 · SCurrault Douglas N. II · 80,000 sh@ 78.56

56 filings · 40 insider transactions

Comparable companies

by business, not by industry label

NEMNewmont NUENucor STLDSteel Dynamics ALBAlbemarle MOSMosaic

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just FCX. No account.

About Freeport-McMoRan

Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.

CEO: Kathleen L. Quirk
Headquarters: Phoenix, AZ
Employees: 29,000
IPO: 1995-07-10

Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.