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What is FCX's Change in Working Capital?

  Freeport-McMoRan Inc ( FCX ) |
1994 - 2021 (28 years)

Change in Working Capital is 
$2.6B (1Y -927.2% )

FCX Stock Price & Change in Working Capital

Change in Working Capital for FCX competitors.
TECK BBL RIO APC NEM BHP SCCO VALE
Note: Stonk = Stock. Both words are used interchangeably. 🙂

Historical (All-Time) Stats for Change in Working Capital

chevron_right 2021 $911.0M +98.0x *
( +17.8% / year avg)
chevron_left 1994 -$9.2M
vertical_align_top Peak $3.7B +2.48x *
vertical_align_bottom Bottom -$2.5B
arrow_drop_up # Up Years 8 8 of 28
years up.
arrow_drop_down # Down Years 20
Up Years = Positive (0%+) YoY change
Down Years = Zero or Negative (0% or less) YoY change

Key Points (Stonk Price Comparison)

  • FCX's stock price has rallied +111% from $7.73 in 1994 , or 0% the rate relative to it's change in working capital over the same period.
  • If FCX grows it's stock at the same rate as it's change in working capital (+17.8%/year) , it's stock price will grow +514% and hit $84.19 over the next 10 years.
  • FCX's stock price has gone up 6 of the 8 years (+75%) it's change in working capital were also up.
* A modified method (see: here) is used to calculate changes that involve negative numbers.
  • FCX Historical Change in Working Capital Table
    in $ million
    * A modified method (see: here) is used to calculate changes that involve negative numbers.
    Year Change in Working Capital YoY % Change* Stock Price YoY % Change (Stock Price)
    4/1/2021 $911 901.1% $16.36 80.4%
    4/1/2020 $91 -104.3% $9.07 -5.3%
    4/1/2019 $-2,104 -213.1% $9.58 -41.7%
    4/1/2018 $1,861 -234.5% $16.42 47.5%
    4/1/2017 $-1,384 -137.5% $11.14 3.7%
    4/1/2016 $3,689 476.4% $10.74 -42.8%
    4/1/2015 $640 -125.7% $18.79 -40.3%
    4/1/2014 $-2,495 29.8% $31.45 19.2%
    4/1/2013 $-1,922 286.7% $26.38 0.4%
    4/1/2012 $-497 -128.9% $26.28 -36.3%
    4/1/2011 $1,721 -20.6% $41.24 52.7%
    4/1/2010 $2,168 61.7% $27.0 29.2%
    4/1/2009 $1,341 -239.3% $20.91 -52.1%
    4/1/2008 $-963 -134.8% $43.68 49.2%
    4/1/2007 $2,764 259.5% $29.28 49.9%
    4/1/2006 $769 -419.1% $19.54 67.2%
    4/1/2005 $-241 -5118.5% $11.69 9.7%
    4/1/2004 $4 -98.9% $10.65 55.7%
    4/1/2003 $456 153.1% $6.84 11.7%
    4/1/2002 $180 -1273.1% $6.12 26.0%
    4/1/2001 $-15 -90.9% $4.86 70.6%
    4/1/2000 $-169 -263.7% $2.85 -40.0%
    4/1/1999 $103 -350.1% $4.75 -18.2%
    4/1/1998 $-41 -59.8% $5.81 -33.8%
    4/1/1997 $-102 -3.6% $8.77 -9.7%
    4/1/1996 $-106 -195.7% $9.71 25.6%
    4/1/1995 $111 -1309.8% $7.73 0.0%
    4/1/1994 $-9 - $7.73 -

  • About
    Industry: Copper
    Sector: Basic Materials
    Country: US
    IPO Date: 5/5/1988
    Stonk Exchange: NYSE
    • Freeport-McMoRan, Inc
    • engages in the mining of copper, gold, and molybdenum.
    • The company is headquartered in Phoenix, Arizona and currently employs 26,800 full-time employees.
    • The firm operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer.
    • The firm's segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
    • The firm's segments include the Morenci, Cerro Verde, Grasberg copper mines, the Rod & Refining operations and the United States (U.
    • S
    • ) Oil and Gas Operations
    • The firm has organized its operations into five divisions, which include North America copper mines, South America mining, Indonesia mining and Molybdenum mines.
    • The firm's portfolio of assets includes the Grasberg minerals district in Indonesia, copper and gold deposits, and mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America.

  • Change in Working Capital Summary: On the Cash Flow Statement, the Change in Working Capital is defined as Old Working Capital – New Working Capital, where Working Capital = Current Operational Assets – Current Operational Liabilities.

    It’s defined this way on the Cash Flow Statement because Working Capital is a Net Asset, and when an Asset increases, the company must spend cash to do so. For example, think about Inventory: if it goes up, and no other items change, the company must have spent some of its cash to purchase this Inventory.

    Therefore, if Working Capital increases, the company’s cash flow decreases, and if Working Capital decreases, the company’s cash flow increases.

    That explains why the Change in Working Capital has a negative sign when Working Capital increases, while it has a positive sign when Working Capital decreases.

    The Change in Working Capital gives you an idea of how much a company’s cash flow will differ from its Net Income (i.e., after-tax profits), and companies with more power to collect cash quickly from customers and delay payments to suppliers tend to have more positive Change in Working Capital figures.

    For more detailed definitions, please see Investopedia.