Freeport-McMoRan Inc. (FCX) DCF Valuation
A discounted-cash-flow model values Freeport-McMoRan Inc. (FCX) at about $10.98 (TGM base case). Today's price of $64.25 sits above that range — by these conservative assumptions it looks richly valued; the reverse-DCF below is the better lens for a high-growth name.
Reverse DCF: at today's $64.25, the market is pricing in roughly +25.1%/yr free-cash-flow growth over the next decade (at a 10% required return) — versus its actual 5-year FCF CAGR of +21.0%. The price is betting on acceleration above its track record.
Current Price
$64.25
Fair-Value Range
$10.98
Market-Implied Growth
+25.1%/yr
vs +21.0% 5Y actual
FCX DCF Fair Value Calculator
Edit the assumptions to see how they change the estimated fair value. Illustrative model — not investment advice. Defaults to a conservative base case; the analyst (FMP) DCF, where available, is shown as a reference below.
Base inputs: FCF $1.4B · 1.44B shares · net debt $7.1B
Estimated Fair Value
$10.98
-82.9% vs $64.25
Sensitivity — fair value by discount rate × terminal growth
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 5.0%/yr FCF growth and 10-year horizon fixed. Green = above today's $64.25; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 8.0% | $14.85 | $15.87 | $17.07 | $18.51 | $20.27 |
| 9.0% | $12.06 | $12.75 | $13.55 | $14.49 | $15.59 |
| 10.0% | $9.93 | $10.42 | $10.98 | $11.62 | $12.36 |
| 11.0% | $8.25 | $8.62 | $9.02 | $9.48 | $9.99 |
| 12.0% | $6.90 | $7.18 | $7.48 | $7.81 | $8.18 |
About Freeport-McMoRan Inc.
Freeport-McMoRan Inc. is a prominent mining enterprise conducting extensive operations across North America, South America, and Indonesia. The company primarily focuses on the exploration and extraction of key mineral resources such as copper, gold, molybdenum, and silver, alongside other valuable metals. Additionally, it maintains a significant presence in the oil and gas sector. Its diverse portfolio of assets features the notable Grasberg minerals district in Indonesia; numerous sites in the United States including Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado. In South America, its holdings include Cerro Verde in Peru and El Abra in Chile. Beyond its mineral interests, Freeport-McMoRan operates a collection of oil and gas properties, predominantly situated off the coasts of California and in the Gulf of Mexico, managing approximately 135 wells as of December 31, 2021. Founded in 1987 and headquartered in Phoenix, Arizona, the company adopted its current name, Freeport-McMoRan Inc., in July 2014, having previously operated as Freeport-McMoRan Copper & Gold Inc.
- Sector
- Basic Materials
- Industry
- Copper
- CEO
- Kathleen Lynne Quirk