Freeport-McMoRan vs Newmont
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The short version
- Freeport-McMoRan is the larger business, with $25.9B of revenue in fiscal 2025 against $22.7B for Newmont.
- Newmont grew revenue faster (21.3%, against 1.8%).
- Newmont turned more of its sales into free cash flow (32.2% FCF margin, against 4.3%).
- Newmont earned a higher return on the capital invested in it (20.6%, against 12.1%).
| Latest fiscal year | FCX · FY25 | NEM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $94.1B | $114.4B |
| Revenue | $25.9B | $22.7B |
| Free cash flow | $1.1B | $7.3B |
| Net income | $2.2B | $7.1B |
| Growth | ||
| Revenue growth | 1.8% | 21.3% |
| 5-year growth | 12.8% | 14.5% |
| Share count change | −0.1% | −3.5% |
| Profitability | ||
| Gross margin | 28.2% | — |
| Operating margin | 25.2% | — |
| Net margin | 8.5% | 31.3% |
| FCF margin | 4.3% | 32.2% |
| Return on capital | 12.1% | 20.6% |
| Return on equity | 12.1% | 22.2% |
| Balance sheet | ||
| Net debt | $5.6B | −$2.7B |
| Net debt / EBITDA | 0.6x | −0.2x |
| Dividends and buybacks | $972M | $3.4B |
| Valuation & quality | ||
| P/E | — | 12.7x |
| Piotroski F-score | 6 | 8 |
Revenue
FY16
FCX $14.8B
NEM $6.7B
FY17
FCX $16.4B
NEM $7.4B
FY18
FCX $18.6B
NEM $7.3B
FY19
FCX $14.4B
NEM $9.7B
FY20
FCX $14.2B
NEM $11.5B
FY21
FCX $22.8B
NEM $12.2B
FY22
FCX $22.8B
NEM $11.9B
FY23
FCX $22.9B
NEM $11.8B
FY24
FCX $25.5B
NEM $18.7B
FY25
FCX $25.9B
NEM $22.7B
FCX
NEM
Operating margin
FY16
FCX −18.4%
NEM —
FY17
FCX 22.5%
NEM —
FY18
FCX 25.5%
NEM —
FY19
FCX 7.6%
NEM —
FY20
FCX 17.2%
NEM —
FY21
FCX 36.6%
NEM —
FY22
FCX 30.9%
NEM —
FY23
FCX 27.2%
NEM —
FY24
FCX 27.0%
NEM —
FY25
FCX 25.2%
NEM —
FCX
NEM
Free cash flow
FY16
FCX $924M
NEM $1.7B
FY17
FCX $3.3B
NEM $1.3B
FY18
FCX $1.9B
NEM $795M
FY19
FCX −$1.2B
NEM $1.4B
FY20
FCX $1.1B
NEM $3.6B
FY21
FCX $5.6B
NEM $2.6B
FY22
FCX $1.7B
NEM $1.1B
FY23
FCX $455M
NEM $97.0M
FY24
FCX $2.4B
NEM $3.0B
FY25
FCX $1.1B
NEM $7.3B
FCX
NEM
Return on capital
FY16
FCX −10.9%
NEM 0.3%
FY17
FCX 18.9%
NEM 5.8%
FY18
FCX 15.8%
NEM 3.8%
FY19
FCX 2.2%
NEM 15.8%
FY20
FCX 4.9%
NEM 10.3%
FY21
FCX 23.8%
NEM 2.8%
FY22
FCX 18.0%
NEM 0.4%
FY23
FCX 13.1%
NEM −5.0%
FY24
FCX 13.3%
NEM 9.6%
FY25
FCX 12.1%
NEM 20.6%
FCX
NEM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.