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Freeport-McMoRan Inc. FCX Exploration Expense

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Segments

By segment

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Morenci$10M+25.0%
Atlantic Copper Smelting and Refining Segment$0
Grasberg Segment$0-100%
Rod and Refining Segment$0

Other financials

Income statement

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Revenue$7.0B-7.3%
Gross profit$2.2B-16.9%
Operating income$2.0B-17.6%
Net income$984.0M+27.5%
EPS (diluted)$0.68+28.3%

Balance sheet

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Cash & equivalents$4.5B-6.9%
Total debt$10.4B+12.0%
Total equity$20.1B+10.4%
Total assets$59.7B+5.7%

Cash flow

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Operating cash flow$2.0B-6.7%
CapEx$973.0M-17.0%
Free cash flow$522.0M+558%

Valuation

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Market cap$98.71B+65.8%
Enterprise value$104.58B+63.5%
P/E23.6×+6.7×
P/S3.8×+1.5×

Profitability

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Gross margin27.1%-2.7pp
Operating margin26.8%0.0pp
Net margin16.2%+2.5pp
FCF margin6.2%-2.2pp

Returns & leverage

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Return on equity21.8%+2.1pp
Debt / equity0.5×0.0×
Current ratio2.1×-0.4×

Where this comes from

Reported directly by Freeport-McMoRan Inc. in its filing.

Tagged under the XBRL concept us-gaap:ExplorationExpense.

The source filing: Freeport-McMoRan Inc.’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 5:17 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000831259-26-000036
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Depreciation, depletion and amortization5236681,0371,134
Total cost of sales4,8434,9509,4229,172
Selling, general and administrative expenses135127297281
Exploration and research expenses53469185
Environmental obligations and shutdown costs13273037
Gain on PTFI mud rush incident insurance settlement(699)
Gain on sale of assets(18)(18)
Total costs and expenses5,0265,1509,1239,575

Item 1.Financial Statements.

FAQ

What is Freeport-McMoRan Inc.'s exploration expense?
Freeport-McMoRan Inc. (FCX) reported exploration expense of $53M in Q2 2026.
What does exploration expense mean?
Exploration Expense

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