Question 1

What is Freeport-McMoRan's P/B ratio?

Accepted Answer

Freeport-McMoRan (FCX) P/B ratio is 4.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Freeport-McMoRan?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Freeport-McMoRan specifically, the relevant sector benchmark is the current sector median of 2.8×.

Question 5

Is Freeport-McMoRan's P/B ratio high or low?

Accepted Answer

Freeport-McMoRan's P/B ratio of 4.8× is above its own 5-year average of 3.7× and above the sector median of 2.8×. That places the current reading at the 92th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Freeport-McMoRan's historical P/B ratio range?

Accepted Answer

In the available daily series, Freeport-McMoRan (FCX) P/B ratio has ranged from a low of 0.9× in 2007 to a high of 22.2× in 2002. The 5-year average is 3.7× and the 5-year median is 3.6×.

Question 7

What was Freeport-McMoRan's P/B ratio in 2025?

Accepted Answer

Freeport-McMoRan (FCX) P/B ratio at the end of 2025 was 3.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Freeport-McMoRan's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$73.3B	$18.9B	3.9×	+0.8×	Dec 31, 2025
2024	$54.7B	$17.6B	3.1×	-0.5×	Dec 31, 2024
2023	$61B	$16.7B	3.7×	+0.2×	Dec 31, 2023
2022	$54.3B	$15.6B	3.5×	-0.9×	Dec 31, 2022
2021	$60.8B	$14B	4.3×	+0.6×	Dec 31, 2021
2020	$37.9B	$10.2B	3.7×	+1.7×	Dec 31, 2020
2019	$19.1B	$9.3B	2.0×	+0.5×	Dec 31, 2019
2018	$14.9B	$9.6B	1.6×	-1.9×	Dec 31, 2018
2017	$27.5B	$7.98B	3.4×	+0.4×	Dec 31, 2017
2016	$18.5B	$6.05B	3.1×	+2.0×	Dec 31, 2016
2015	$7.97B	$7.83B	1.0×	-0.3×	Dec 31, 2015
2014	$24.3B	$18.3B	1.3×	-0.5×	Dec 31, 2014
2013	$39.2B	$20.9B	1.9×	+0.0×	Dec 31, 2013
2012	$32.5B	$17.5B	1.9×	-0.4×	Dec 31, 2012
2011	$34.8B	$15.6B	2.2×	-2.3×	Dec 31, 2011
2010	$56.6B	$12.5B	4.5×	+0.7×	Dec 31, 2010
2009	$34.6B	$9.12B	3.8×	+2.1×	Dec 31, 2009
2008	$9.78B	$5.77B	1.7×	-0.5×	Dec 31, 2008
2007	$39.2B	$18.2B	2.2×	-2.8×	Dec 31, 2007
2006	$12.1B	$2.45B	4.9×	-0.5×	Dec 31, 2006
2005	$9.98B	$1.84B	5.4×	-0.5×	Dec 31, 2005
2004	$6.83B	$1.16B	5.9×	-4.9×	Dec 31, 2004
2003	$8.34B	$776M	10.7×	+1.6×	Dec 31, 2003
2002	$2.43B	$267M	9.1×	—	Dec 31, 2002


Linde (LIN)	6.0×
Vulcan Materials (VMC)	4.3×
Air Products and Chemicals (APD)	4.1×
Agnico Eagle Mines (AEM)	3.9×
CF Industries Holdings (CF)	3.7×
Steel Dynamics (STLD)	3.5×
Newmont (NEM)	3.4×
Martin Marietta Materials (MLM)	3.1×
CRH (CRH)	3.0×
PPG Industries (PPG)	3.0×
LyondellBasell (LYB)	2.6×
Corteva (CTVA)	2.3×
Builders FirstSource (BLDR)	2.3×
Albemarle (ALB)	2.1×
Dow (DOW)	2.0×
Nucor (NUE)	1.8×
H.B. Fuller (FUL)	1.7×
Eastman Chemical (EMN)	1.4×
Avient (AVNT)	1.4×
Ashland (ASH)	1.4×
DuPont de Nemours (DD)	1.3×
International Flavors & Fragrances (IFF)	1.3×
International Paper (IP)	1.3×
Stepan (SCL)	1.0×
Mosaic (MOS)	0.7×

P/B Ratio for Freeport-McMoRan (FCX) 2002-2026

P/B Ratio daily chart for Freeport-McMoRan (FCX)

Historical P/B Ratio for Freeport-McMoRan (FCX) from 2002 to 2025

About P/B Ratio at Freeport-McMoRan (FCX)

Freeport-McMoRan P/B Ratio by Year

Freeport-McMoRan P/B Ratio 2025: 3.9×

Freeport-McMoRan P/B Ratio 2024: 3.1×

Freeport-McMoRan P/B Ratio 2023: 3.7×

Freeport-McMoRan P/B Ratio 2022: 3.5×

Freeport-McMoRan P/B Ratio 2021: 4.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Freeport-McMoRan (FCX) Key Financials