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Rio Tinto vs Freeport-McMoRan: RIO and FCX compared
Rio Tinto is the larger company: $31.0B of revenue in its latest quarter (H1 2026) against $7.5B for Freeport-McMoRan (Q3 2026). Rio Tinto is growing faster (+16% against +8% a year earlier). Freeport-McMoRan is more profitable, with an operating margin of 31.2% against 29.5%.
Where the money goes: RIO and FCX
Rio Tinto (RIO) · H1 2026
Rio Tinto, H1 2026: revenue $31.0B (+16% year over year), operating margin 29.5%, net earnings $6.7B, operating cash flow $9.2B. The chart follows the revenue to costs, profit and cash.
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.
| Rio Tinto (RIO) | Freeport-McMoRan (FCX) | |
|---|---|---|
| Latest quarter | H1 2026 | Q3 2026 |
| Revenue | $31.0B | $7.5B |
| Revenue growth, Y/Y | +16% | +8% |
| Operating margin | 29.5% | 31.2% |
| Net earnings | $6.7B | $1.2B |
| Net margin | 21.5% | 15.6% |
| Operating cash flow | $9.2B | $2.0B |
| Free cash flow | $3.2B | — |
| Market value | — | $83.5B |
| P/E | — | 16.7× |
| Analysts’ mean target | — | $78.09 |
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, Rio Tinto or Freeport-McMoRan?
Rio Tinto is the larger company: $31.0B of revenue in its latest quarter (H1 2026) against $7.5B for Freeport-McMoRan (Q3 2026).
Is Rio Tinto or Freeport-McMoRan growing faster?
Rio Tinto is growing faster (+16% against +8% a year earlier).
Which is more profitable, Rio Tinto or Freeport-McMoRan?
Freeport-McMoRan is more profitable, with an operating margin of 31.2% against 29.5%.
More: Rio Tinto earnings · how Rio Tinto makes money · Freeport-McMoRan earnings · how Freeport-McMoRan makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Jul 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.