Freeport-Mcmoran
Freeport-Mcmoran returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 13.2% | 13.34% | 17.11% | 15.37% | 7.2% | 5.5 pp |
| FY 2026 Q1 | Mar 31, 2026 | 13.72% | 14.27% | 29.79% | 14.7% | 8.26% | 6 pp |
| FY 2025 Q4 | Dec 31, 2025 | 12.11% | 12.84% | -4.39% | 12.08% | 7.35% | 4.4 pp |
| FY 2025 Q3 | Sep 30, 2025 | 12.69% | 13.84% | -14.34% | 11.44% | 7.68% | 5 pp |
| FY 2025 Q2 | Jun 30, 2025 | 12.71% | 13.91% | -5.44% | 10.81% | 7.73% | 5 pp |
| FY 2025 Q1 | Mar 31, 2025 | 12.08% | 13.34% | 4.53% | 10.2% | 7.31% | 4.4 pp |
| FY 2024 Q4 | Dec 31, 2024 | 13.25% | 14.29% | 26.49% | 11.02% | 8.2% | 5.5 pp |
| FY 2024 Q3 | Sep 30, 2024 | 14.51% | 15.31% | 24.45% | 11.78% | 8.75% | 6.8 pp |
| FY 2024 Q2 | Jun 30, 2024 | 14.27% | 14.58% | 22.91% | 11.49% | 8.36% | 6.6 pp |
| FY 2024 Q1 | Mar 31, 2024 | 12.94% | 13.38% | 3.76% | 10.04% | 7.35% | 5.2 pp |
| FY 2023 Q4 | Dec 31, 2023 | 13.06% | 13.62% | -17.05% | 11.46% | 7.24% | 5.4 pp |
| FY 2023 Q3 | Sep 30, 2023 | 13.6% | 13.3% | -34.88% | 13.73% | 7.33% | 5.9 pp |
| FY 2023 Q2 | Jun 30, 2023 | 12.79% | 12.19% | -93.19% | 13.55% | 6.57% | 5.1 pp |
| FY 2023 Q1 | Mar 31, 2023 | 14.08% | 13.25% | -95.86% | 16.84% | 7.27% | 6.4 pp |
| FY 2022 Q4 | Dec 31, 2022 | 18.02% | 16.2% | -40.54% | 23.48% | 9.04% | 10.3 pp |
| FY 2022 Q3 | Sep 30, 2022 | 20.71% | 18.31% | -1.53% | 27.39% | 10.04% | 13 pp |
| FY 2022 Q2 | Jun 30, 2022 | 25.86% | 22.15% | 185.18% | 36.22% | 12.61% | 18.2 pp |
| FY 2022 Q1 | Mar 31, 2022 | 26.98% | 23.69% | 766.65% | 39.67% | 13.66% | 19.3 pp |
| FY 2021 Q4 | Dec 31, 2021 | 23.84% | 20.69% | — | 35.65% | 11.9% | 16.1 pp |
| FY 2021 Q3 | Sep 30, 2021 | 21.28% | 19.57% | — | 34.6% | 11.05% | 13.6 pp |
| FY 2021 Q2 | Jun 30, 2021 | 16.01% | 16.02% | — | 27.07% | 8.34% | 8.3 pp |
| FY 2021 Q1 | Mar 31, 2021 | 10.96% | 11.67% | — | 18.29% | 5.64% | 3.3 pp |
| FY 2020 Q4 | Dec 31, 2020 | 4.63% | 6.39% | — | 6.15% | 2.09% | -3.1 pp |
| FY 2020 Q3 | Sep 30, 2020 | 0.27% | 3.98% | — | -1.07% | 0.12% | -7.4 pp |
| FY 2020 Q2 | Jun 30, 2020 | — | 1.56% | — | -6.82% | -1.52% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | 0.79% | — | -8.17% | -2% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 2.85% | — | -2.5% | -0.46% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | 1.77% | — | 2.44% | 0.37% | — |
| FY 2019 Q2 | Jun 30, 2019 | 8.3% | 5.59% | -37.47% | 10.43% | 2.67% | 0.6 pp |
| FY 2019 Q1 | Mar 31, 2019 | 12.68% | 10.32% | -4.57% | 21.05% | 5.54% | 5 pp |
| FY 2018 Q4 | Dec 31, 2018 | 15.83% | 13.36% | 20.95% | 29.28% | 7.28% | 8.1 pp |
| FY 2018 Q3 | Sep 30, 2018 | 20.3% | 17.97% | — | 37.26% | 9.92% | 12.6 pp |
| FY 2018 Q2 | Jun 30, 2018 | 18.38% | 16.86% | — | 35.7% | 8.93% | 10.7 pp |
| FY 2018 Q1 | Mar 31, 2018 | 15.05% | 14.09% | — | 30.47% | 7.12% | 7.4 pp |
| FY 2017 Q4 | Dec 31, 2017 | 12.33% | 11.12% | — | 25.91% | 5.62% | 4.6 pp |
| FY 2017 Q3 | Sep 30, 2017 | 6.08% | 8.35% | — | 18.25% | 2.76% | -1.6 pp |
| FY 2017 Q2 | Jun 30, 2017 | 6.44% | 6.71% | — | 18.83% | 2.88% | -1.3 pp |
| FY 2017 Q1 | Mar 31, 2017 | 3.56% | 4.74% | — | 5.15% | 0.96% | -4.1 pp |
| FY 2016 Q4 | Dec 31, 2016 | — | -7.41% | — | -59.86% | -9.6% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | -18.43% | — | -108.78% | -18.13% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | -27.67% | — | -141.22% | -26.01% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | -31.8% | — | -143.15% | -27.92% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | -27.91% | — | -93.71% | -22.95% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | -24.38% | — | -67.66% | -18.77% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | -14.2% | — | -37.71% | -10.57% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | -7.22% | — | -23.24% | -6.3% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 0.17% | — | -6.67% | -1.22% | — |
| FY 2014 Q3 | Sep 30, 2014 | 7.49% | 8.72% | -19.84% | 10.72% | 4.66% | -0.2 pp |
| FY 2014 Q2 | Jun 30, 2014 | 8.6% | 9.86% | 2.14% | 12.23% | 5.18% | 0.9 pp |
| FY 2014 Q1 | Mar 31, 2014 | 10.58% | 10.45% | -1.64% | 12.89% | 6.09% | 2.9 pp |
| FY 2013 Q4 | Dec 31, 2013 | 11.51% | 11.79% | -2.06% | 13.82% | 6.96% | 3.8 pp |
| FY 2013 Q3 | Sep 30, 2013 | 11.34% | 11.31% | — | 14.35% | 7.06% | 3.6 pp |
| FY 2013 Q2 | Jun 30, 2013 | 12.04% | 10.79% | — | 14.8% | 7.27% | 4.3 pp |
| FY 2013 Q1 | Mar 31, 2013 | 19.36% | 15.69% | — | 17.17% | 10.08% | 11.7 pp |
| FY 2012 Q4 | Dec 31, 2012 | 21.95% | 18.99% | -44.66% | 18.33% | 11.79% | 14.2 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | 19.21% | — | 18.08% | 11.78% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 22.3% | — | 20.38% | 12.62% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 28.23% | — | 25.55% | 15.29% | — |
| FY 2011 Q4 | Dec 31, 2011 | 36.17% | 33.39% | 2.96% | 32.4% | 18.7% | 28.5 pp |
| FY 2011 Q3 | Sep 30, 2011 | — | 41.12% | — | 40.58% | 22.95% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | 44.74% | — | 44.68% | 25.05% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | 40.58% | — | 40.98% | 21.3% | — |
| FY 2010 Q4 | Dec 31, 2010 | 39.24% | 37.3% | 174.04% | 39.52% | 20.02% | 31.5 pp |
| FY 2010 Q3 | Sep 30, 2010 | 36.33% | 34.77% | — | 37.31% | 18.23% | 28.6 pp |
| FY 2010 Q2 | Jun 30, 2010 | 34.74% | 34.93% | — | 38.67% | 18.03% | 27 pp |
| FY 2010 Q1 | Mar 31, 2010 | 36.27% | 35.92% | — | 40.63% | 17.87% | 28.6 pp |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q1 | Mar 31, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · FCX, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.