Freeport-McMoRan (MEX:FCX) ROCE %: 16.37% (As of Mar. 2026)


MEX:FCX Freeport-McMoRan Inc MEX:FCX
82 GF Score
Price MXN1,083.00
GF Value MXN842.98
Valuation Modestly Overvalued
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What is Freeport-McMoRan ROCE %?

Freeport-McMoRan MEX:FCX -5.61% 82 ROCE % is 16.37% as of Mar. 2026. GuruFocus rates MEX:FCX with a GF Score™ of 82/100 and a GF Value™ of MXN842.98 (Modestly Overvalued).

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Freeport-McMoRan's annualized ROCE % for the quarter that ended in Mar. 2026 was 16.37%.

Freeport-McMoRan  (MEX:FCX) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Freeport-McMoRan ROCE % Related Terms

Freeport-McMoRan ROCE % Historical Data

* Premium members only.

The historical data trend for Freeport-McMoRan's ROCE % 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.

Freeport-McMoRan ROCE % Chart

Freeport-McMoRan Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 20.73 16.33 13.30 16.54 12.33

Freeport-McMoRan Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 10.85 18.78 15.68 6.71 16.37
MEX:FCX
82GF Score
Freeport-McMoRan Inc MEX:FCX
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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Freeport-McMoRan ROCE % Calculation

Freeport-McMoRan's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=121376.424/( ( (1143893.433 - 114622.927) + (1047337.553 - 108376.308) )/ 2 )
=121376.424/( (1029270.506+938961.245)/ 2 )
=121376.424/984115.8755
=12.33 %

Freeport-McMoRan's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=154936.96/( ( (1047337.553 - 108376.308) + (1061044.069 - 106519.159) )/ 2 )
=154936.96/( ( 938961.245 + 954524.91 )/ 2 )
=154936.96/946743.0775
=16.37 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 16.37% mean?
Freeport-McMoRan (MEX:FCX) has a ROCE % of 16.37% as of Mar. 2026.
Is Freeport-McMoRan's ROCE % too high?
Freeport-McMoRan's current ROCE % is 16.37%. Overall, Freeport-McMoRan has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Freeport-McMoRan's ROCE % compare to SCCO and IE?
Freeport-McMoRan's ROCE % of 16.37% can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Metals & Mining company?
A good ROCE % depends on the Metals & Mining industry context. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. Freeport-McMoRan's current ROCE % is 16.37%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Freeport-McMoRan stock overvalued right now?
Based on GuruFocus' analysis, Freeport-McMoRan (MEX:FCX) is currently considered Modestly Overvalued. The stock's GF Value™ is MXN842.98, compared to a current price of MXN1,083.00 — trading 28.5% above its estimated fair value. The current ROCE % is 16.37%. Freeport-McMoRan's overall GF Score™ is 82/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For Freeport-McMoRan (MEX:FCX), the current ROCE % is 16.37% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Freeport-McMoRan (MEX:FCX) Overvalued in 2026?

Based on GuruFocus' analysis, Freeport-McMoRan stock appears to be overvalued. The current stock price of MXN1,083.00 is trading 28.5% above its estimated GF Value™ of MXN842.98. GuruFocus considers Freeport-McMoRan to be Modestly Overvalued.

Key valuation signals for MEX:FCX:

  • ROCE %: 16.37%
  • GF Value™: MXN842.98 vs. price of MXN1,083.00 (28.5% above fair value)
  • GF Score™: 82/100

No single metric tells the full story. See the MEX:FCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Freeport-McMoRan Business Description

Address 4340 East. Cotton Center boulevard, Suite 110, Phoenix, AZ, USA, 85040-8852
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 1.1 million metric tons of copper (its share) in 2025, making it the one of the world's largest copper miners by volume. It also sold about 530,000 ounces of gold, mostly from Grasberg, and 74 million pounds of molybdenum. It had about 25 years of copper reserves at the end of December 2025. We expect it to sell about 1.3 million metric tons of copper and 610,000 ounces of gold midcycle in 2030.
82GF Score

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ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN1,083.00
Price
MXN842.98
GF Value