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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and Freeport-McMoRan (FCX). Click either name above to swap in a different company.
Athene Holding Ltd. is the larger business by last-quarter revenue ($8.1B vs $5.3B, roughly 1.5× Freeport-McMoRan). Freeport-McMoRan runs the higher net margin — 10.7% vs 6.4%, a 4.3% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs -10.4%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs -7.9%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
Freeport-McMoRan Inc., often called Freeport, is an American mining company based in the Freeport-McMoRan Center, in Phoenix, Arizona. The company is the world's largest producer of molybdenum, a major copper producer and operates the world's largest gold mine, the Grasberg mine in Papua, Indonesia.
ATHS vs FCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $5.3B |
| Net Profit | $523.0M | $565.0M |
| Gross Margin | — | 12.4% |
| Operating Margin | 16.9% | 15.4% |
| Net Margin | 6.4% | 10.7% |
| Revenue YoY | 115.1% | -10.4% |
| Net Profit YoY | -48.5% | -21.6% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $8.1B | $5.3B | ||
| Q3 25 | $8.0B | $6.8B | ||
| Q2 25 | $5.4B | $7.5B | ||
| Q1 25 | $4.2B | $5.6B | ||
| Q4 24 | $3.8B | $5.9B | ||
| Q3 24 | $6.5B | $6.7B | ||
| Q2 24 | $4.7B | $6.4B | ||
| Q1 24 | $5.7B | $6.2B |
| Q4 25 | $523.0M | $565.0M | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $464.0M | $1.5B | ||
| Q1 25 | $465.0M | $793.0M | ||
| Q4 24 | $1.0B | $721.0M | ||
| Q3 24 | $625.0M | $1.2B | ||
| Q2 24 | $629.0M | $1.3B | ||
| Q1 24 | $1.2B | $1.2B |
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 29.2% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 24.3% | ||
| Q4 24 | — | 27.0% | ||
| Q3 24 | — | 30.0% | ||
| Q2 24 | — | 31.5% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | 16.9% | 15.4% | ||
| Q3 25 | 26.8% | 28.9% | ||
| Q2 25 | 12.2% | 32.3% | ||
| Q1 25 | 22.3% | 23.4% | ||
| Q4 24 | 30.4% | 21.1% | ||
| Q3 24 | 25.7% | 29.0% | ||
| Q2 24 | 22.0% | 32.0% | ||
| Q1 24 | 31.1% | 26.3% |
| Q4 25 | 6.4% | 10.7% | ||
| Q3 25 | 15.7% | 18.3% | ||
| Q2 25 | 8.7% | 20.6% | ||
| Q1 25 | 11.1% | 14.2% | ||
| Q4 24 | 26.8% | 12.3% | ||
| Q3 24 | 9.6% | 18.5% | ||
| Q2 24 | 13.5% | 20.0% | ||
| Q1 24 | 20.8% | 18.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | $0.46 | ||
| Q2 25 | — | $0.53 | ||
| Q1 25 | — | $0.24 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.42 | ||
| Q1 24 | — | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.8B |
| Total DebtLower is stronger | $7.8B | $9.4B |
| Stockholders' EquityBook value | $20.5B | $18.9B |
| Total Assets | $442.2B | $58.2B |
| Debt / EquityLower = less leverage | 0.38× | 0.50× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.4B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $5.0B | ||
| Q2 24 | — | $5.3B | ||
| Q1 24 | $15.3B | $5.2B |
| Q4 25 | $7.8B | $9.4B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $6.3B | $9.4B | ||
| Q4 24 | $6.3B | $8.9B | ||
| Q3 24 | $5.7B | $9.7B | ||
| Q2 24 | $5.7B | $9.4B | ||
| Q1 24 | $5.7B | $9.4B |
| Q4 25 | $20.5B | $18.9B | ||
| Q3 25 | $20.4B | $18.7B | ||
| Q2 25 | $18.1B | $18.2B | ||
| Q1 25 | $17.5B | $17.7B | ||
| Q4 24 | $16.4B | $17.6B | ||
| Q3 24 | $17.4B | $17.5B | ||
| Q2 24 | $15.0B | $17.4B | ||
| Q1 24 | $14.8B | $17.0B |
| Q4 25 | $442.2B | $58.2B | ||
| Q3 25 | $429.9B | $56.8B | ||
| Q2 25 | $405.3B | $56.5B | ||
| Q1 25 | $381.5B | $56.0B | ||
| Q4 24 | $363.3B | $54.8B | ||
| Q3 24 | $355.0B | $55.4B | ||
| Q2 24 | $332.6B | $54.6B | ||
| Q1 24 | $320.6B | $54.2B |
| Q4 25 | 0.38× | 0.50× | ||
| Q3 25 | 0.38× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.36× | 0.53× | ||
| Q4 24 | 0.39× | 0.51× | ||
| Q3 24 | 0.33× | 0.55× | ||
| Q2 24 | 0.38× | 0.54× | ||
| Q1 24 | 0.39× | 0.56× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $693.0M |
| Free Cash FlowOCF − Capex | — | $-312.0M |
| FCF MarginFCF / Revenue | — | -5.9% |
| Capex IntensityCapex / Revenue | — | 19.1% |
| Cash ConversionOCF / Net Profit | 5.82× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0B | $693.0M | ||
| Q3 25 | $636.0M | $1.7B | ||
| Q2 25 | $1.1B | $2.2B | ||
| Q1 25 | $426.0M | $1.1B | ||
| Q4 24 | $386.0M | $1.4B | ||
| Q3 24 | $780.0M | $1.9B | ||
| Q2 24 | $525.0M | $2.0B | ||
| Q1 24 | $185.0M | $1.9B |
| Q4 25 | — | $-312.0M | ||
| Q3 25 | — | $608.0M | ||
| Q2 25 | — | $934.0M | ||
| Q1 25 | — | $-114.0M | ||
| Q4 24 | — | $197.0M | ||
| Q3 24 | — | $673.0M | ||
| Q2 24 | — | $840.0M | ||
| Q1 24 | — | $642.0M |
| Q4 25 | — | -5.9% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 10.1% | ||
| Q2 24 | — | 13.1% | ||
| Q1 24 | — | 10.3% |
| Q4 25 | — | 19.1% | ||
| Q3 25 | — | 15.5% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 21.0% | ||
| Q4 24 | — | 21.1% | ||
| Q3 24 | — | 17.9% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | 20.2% |
| Q4 25 | 5.82× | 1.23× | ||
| Q3 25 | 0.51× | 1.33× | ||
| Q2 25 | 2.28× | 1.42× | ||
| Q1 25 | 0.92× | 1.33× | ||
| Q4 24 | 0.38× | 1.99× | ||
| Q3 24 | 1.25× | 1.51× | ||
| Q2 24 | 0.83× | 1.53× | ||
| Q1 24 | 0.16× | 1.63× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATHS
Segment breakdown not available.
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
