What is Freeport-Mcmoran Inc worth?
With the base-case assumptions below, a discounted cash flow model on Freeport-Mcmoran Inc's reported free cash flow gives $19.26 per share. The share price was $60.31 on November 10, 2026, 213% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 8.0% | 10.0% | $10.36 | -83% |
| Base | 13.0% | 9.0% | $19.26 | -68% |
| Bull | 18.0% | 8.0% | $35.84 | -41% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $25.92 | $28.00 | $30.53 | $33.69 | $37.76 |
| 8.0% | $20.92 | $22.26 | $23.85 | $25.76 | $28.08 |
| 9.0% | $17.28 | $18.20 | $19.26 | $20.49 | $21.95 |
| 10.0% | $14.51 | $15.17 | $15.91 | $16.75 | $17.73 |
| 11.0% | $12.35 | $12.83 | $13.36 | $13.96 | $14.65 |
Where the presets come from
Base: years 1 to 5 grow at Freeport-Mcmoran Inc's revenue growth rate over the last 5 fiscal years (12.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions