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Freeport-McMoRan vs MP Materials: FCX and MP compared
Freeport-McMoRan is the larger company: $7.5B of revenue in its latest quarter (Q3 2026) against $148M for MP Materials (Q3 2026). MP Materials is growing faster (+176% against +8% a year earlier). Freeport-McMoRan is more profitable, with an operating margin of 31.2% against -14.9%.
Where the money goes: FCX and MP
Freeport-McMoRan (FCX) · Q3 2026
Freeport-McMoRan, Q3 2026: revenue $7.5B (+8% year over year), operating margin 31.2%, net earnings $1.2B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
MP Materials (MP) · Q3 2026
MP Materials, Q3 2026: revenue $148M (+176% year over year), operating margin -14.9%, net loss $20.7M, operating cash flow −$12.7M. The chart follows the revenue to costs, profit and cash.
| Freeport-McMoRan (FCX) | MP Materials (MP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $7.5B | $148M |
| Revenue growth, Y/Y | +8% | +176% |
| Operating margin | 31.2% | -14.9% |
| Net earnings | $1.2B | −$20.7M |
| Net margin | 15.6% | -14.0% |
| Operating cash flow | $2.0B | −$12.7M |
| Market value | $83.5B | $7.7B |
| P/E | 16.7× | — |
| Analysts’ mean target | $78.09 | $68.24 |
Where the revenue comes from
Freeport-McMoRan
- Copper Cathode: $2.9B (39%)
- Refined Copper Products: $1.7B (23%)
- Copper in Concentrates: $1.2B (16%)
- Molybdenum: $715M (9%)
Questions
Which is bigger, Freeport-McMoRan or MP Materials?
Freeport-McMoRan is the larger company: $7.5B of revenue in its latest quarter (Q3 2026) against $148M for MP Materials (Q3 2026).
Is Freeport-McMoRan or MP Materials growing faster?
MP Materials is growing faster (+176% against +8% a year earlier).
Which is more profitable, Freeport-McMoRan or MP Materials?
Freeport-McMoRan is more profitable, with an operating margin of 31.2% against -14.9%.
More: Freeport-McMoRan earnings · how Freeport-McMoRan makes money · MP Materials earnings · how MP Materials makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.