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Freeport-McMoRan (CHIX:FPMBD) EBIT : €7,097 Mil (TTM As of Sep. 2024)


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What is Freeport-McMoRan EBIT?

Freeport-McMoRan's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2024 was €1,834 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2024 was €7,097 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Freeport-McMoRan's annualized ROC % for the quarter that ended in Sep. 2024 was 10.64%. Freeport-McMoRan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 19.63%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Freeport-McMoRan's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 11.24%.


Freeport-McMoRan EBIT Historical Data

The historical data trend for Freeport-McMoRan's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Freeport-McMoRan EBIT Chart

Freeport-McMoRan Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 833.40 1,968.69 7,310.99 6,867.60 5,979.76

Freeport-McMoRan Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,469.22 1,673.53 1,621.96 1,967.62 1,833.54

Competitive Comparison of Freeport-McMoRan's EBIT

For the Copper subindustry, Freeport-McMoRan's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Freeport-McMoRan's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Freeport-McMoRan's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Freeport-McMoRan's EV-to-EBIT falls into.



Freeport-McMoRan EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €7,097 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Freeport-McMoRan  (CHIX:FPMBd) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Freeport-McMoRan's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

ROC % (Q: Sep. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2024 ) + Invested Capital (Q: Sep. 2024 ))/ count )
=6984.552 * ( 1 - 37.54% )/( (41188.144 + 40802.686)/ 2 )
=4362.5511792/40995.415
=10.64 %

where

Invested Capital(Q: Jun. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=50755.915 - 4669.154 - ( 4898.617 - max(0, 5700.344 - 13676.738+4898.617))
=41188.144

Invested Capital(Q: Sep. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=49915.4 - 4607.714 - ( 4505 - max(0, 5628.547 - 13105.045+4505))
=40802.686

Note: The Operating Income data used here is four times the quarterly (Sep. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Freeport-McMoRan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2024  Q: Sep. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=7334.14/( ( (34172.336 + max(3393.637, 0)) + (34012.75 + max(3150.797, 0)) )/ 2 )
=7334.14/( ( 37565.973 + 37163.547 )/ 2 )
=7334.14/37364.76
=19.63 %

where Working Capital is:

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1047.912 + 6014.346 + 1318.251) - (4669.154 + 0 + 317.718)
=3393.637

Working Capital(Q: Sep. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(882.079 + 5805.143 + 1399.253) - (4607.714 + 0 + 327.964)
=3150.797

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Freeport-McMoRan's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Sep. 2024 )
=7096.642/63114.235
=11.24 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Freeport-McMoRan EBIT Related Terms

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Freeport-McMoRan Business Description

Address
333 North Central Avenue, Phoenix, AZ, USA, 85004-2189
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2023, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. About 75% of 2023 revenue was from copper, with a further 15% from gold and about 10% from molybdenum. It had about 25 years of copper reserves at end December 2023. we expect it to sell similar amounts of copper midcycle in 2028, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.

Freeport-McMoRan Headlines

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