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Side-by-side financial comparison of Freeport-McMoRan (FCX) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $3.6B, roughly 1.5× MARKEL GROUP INC.). MARKEL GROUP INC. runs the higher net margin — 16.1% vs 10.7%, a 5.4% gap on every dollar of revenue. On growth, MARKEL GROUP INC. posted the faster year-over-year revenue change (-6.9% vs -10.4%). MARKEL GROUP INC. produced more free cash flow last quarter ($599.1M vs $-312.0M). Over the past eight quarters, Freeport-McMoRan's revenue compounded faster (-7.9% CAGR vs -10.5%).
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.
MARKEL GROUP INC.MKLEarnings & Financial Report
Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company.
FCX vs MKL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $3.6B |
| Net Profit | $565.0M | $576.8M |
| Gross Margin | 12.4% | — |
| Operating Margin | 15.4% | 22.2% |
| Net Margin | 10.7% | 16.1% |
| Revenue YoY | -10.4% | -6.9% |
| Net Profit YoY | -21.6% | 5.0% |
| EPS (diluted) | — | $48.22 |
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 | $5.3B | $3.6B | ||
| Q3 25 | $6.8B | $3.9B | ||
| Q2 25 | $7.5B | $4.6B | ||
| Q1 25 | $5.6B | $3.4B | ||
| Q4 24 | $5.9B | $3.8B | ||
| Q3 24 | $6.7B | $4.6B | ||
| Q2 24 | $6.4B | $3.7B | ||
| Q1 24 | $6.2B | $4.5B |
| Q4 25 | $565.0M | $576.8M | ||
| Q3 25 | $1.2B | $751.3M | ||
| Q2 25 | $1.5B | $657.1M | ||
| Q1 25 | $793.0M | $121.7M | ||
| Q4 24 | $721.0M | $549.2M | ||
| Q3 24 | $1.2B | $905.0M | ||
| Q2 24 | $1.3B | $267.7M | ||
| Q1 24 | $1.2B | $1.0B |
| 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 | 15.4% | 22.2% | ||
| Q3 25 | 28.9% | 25.7% | ||
| Q2 25 | 32.3% | 24.1% | ||
| Q1 25 | 23.4% | 8.3% | ||
| Q4 24 | 21.1% | 15.5% | ||
| Q3 24 | 29.0% | 29.7% | ||
| Q2 24 | 32.0% | 11.1% | ||
| Q1 24 | 26.3% | 29.9% |
| Q4 25 | 10.7% | 16.1% | ||
| Q3 25 | 18.3% | 19.1% | ||
| Q2 25 | 20.6% | 14.3% | ||
| Q1 25 | 14.2% | 3.6% | ||
| Q4 24 | 12.3% | 14.3% | ||
| Q3 24 | 18.5% | 19.6% | ||
| Q2 24 | 20.0% | 7.2% | ||
| Q1 24 | 18.7% | 23.0% |
| Q4 25 | — | $48.22 | ||
| Q3 25 | $0.46 | $59.25 | ||
| Q2 25 | $0.53 | $49.67 | ||
| Q1 25 | $0.24 | $12.08 | ||
| Q4 24 | — | $39.02 | ||
| Q3 24 | $0.36 | $66.25 | ||
| Q2 24 | $0.42 | $18.62 | ||
| Q1 24 | $0.32 | $75.43 |
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 | $4.0B |
| Total DebtLower is stronger | $9.4B | $4.3B |
| Stockholders' EquityBook value | $18.9B | $18.6B |
| Total Assets | $58.2B | $68.9B |
| Debt / EquityLower = less leverage | 0.50× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $4.0B | ||
| Q3 25 | $4.3B | $4.0B | ||
| Q2 25 | $4.5B | $3.7B | ||
| Q1 25 | $4.4B | $4.2B | ||
| Q4 24 | $3.9B | $3.7B | ||
| Q3 24 | $5.0B | $3.9B | ||
| Q2 24 | $5.3B | $3.5B | ||
| Q1 24 | $5.2B | $3.6B |
| Q4 25 | $9.4B | $4.3B | ||
| Q3 25 | — | $4.3B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | $9.4B | $4.4B | ||
| Q4 24 | $8.9B | $4.3B | ||
| Q3 24 | $9.7B | $4.4B | ||
| Q2 24 | $9.4B | $4.4B | ||
| Q1 24 | $9.4B | $3.9B |
| Q4 25 | $18.9B | $18.6B | ||
| Q3 25 | $18.7B | $18.0B | ||
| Q2 25 | $18.2B | $17.3B | ||
| Q1 25 | $17.7B | $17.1B | ||
| Q4 24 | $17.6B | $16.9B | ||
| Q3 24 | $17.5B | $17.0B | ||
| Q2 24 | $17.4B | $15.9B | ||
| Q1 24 | $17.0B | $15.7B |
| Q4 25 | $58.2B | $68.9B | ||
| Q3 25 | $56.8B | $67.4B | ||
| Q2 25 | $56.5B | $66.8B | ||
| Q1 25 | $56.0B | $64.6B | ||
| Q4 24 | $54.8B | $61.9B | ||
| Q3 24 | $55.4B | $62.3B | ||
| Q2 24 | $54.6B | $59.7B | ||
| Q1 24 | $54.2B | $57.3B |
| Q4 25 | 0.50× | 0.23× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | 0.53× | 0.26× | ||
| Q4 24 | 0.51× | 0.26× | ||
| Q3 24 | 0.55× | 0.26× | ||
| Q2 24 | 0.54× | 0.28× | ||
| Q1 24 | 0.56× | 0.25× |
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 | $693.0M | $662.2M |
| Free Cash FlowOCF − Capex | $-312.0M | $599.1M |
| FCF MarginFCF / Revenue | -5.9% | 16.7% |
| Capex IntensityCapex / Revenue | 19.1% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.23× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $693.0M | $662.2M | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $2.2B | $504.4M | ||
| Q1 25 | $1.1B | $376.2M | ||
| Q4 24 | $1.4B | $493.9M | ||
| Q3 24 | $1.9B | $890.8M | ||
| Q2 24 | $2.0B | $578.6M | ||
| Q1 24 | $1.9B | $630.7M |
| Q4 25 | $-312.0M | $599.1M | ||
| Q3 25 | $608.0M | $1.2B | ||
| Q2 25 | $934.0M | $453.8M | ||
| Q1 25 | $-114.0M | $335.5M | ||
| Q4 24 | $197.0M | $420.0M | ||
| Q3 24 | $673.0M | $838.9M | ||
| Q2 24 | $840.0M | $521.4M | ||
| Q1 24 | $642.0M | $558.7M |
| Q4 25 | -5.9% | 16.7% | ||
| Q3 25 | 8.9% | 29.6% | ||
| Q2 25 | 12.4% | 9.9% | ||
| Q1 25 | -2.0% | 9.9% | ||
| Q4 24 | 3.4% | 10.9% | ||
| Q3 24 | 10.1% | 18.2% | ||
| Q2 24 | 13.1% | 14.1% | ||
| Q1 24 | 10.3% | 12.5% |
| Q4 25 | 19.1% | 1.8% | ||
| Q3 25 | 15.5% | 1.3% | ||
| Q2 25 | 16.8% | 1.1% | ||
| Q1 25 | 21.0% | 1.2% | ||
| Q4 24 | 21.1% | 1.9% | ||
| Q3 24 | 17.9% | 1.1% | ||
| Q2 24 | 17.4% | 1.5% | ||
| Q1 24 | 20.2% | 1.6% |
| Q4 25 | 1.23× | 1.15× | ||
| Q3 25 | 1.33× | 1.62× | ||
| Q2 25 | 1.42× | 0.77× | ||
| Q1 25 | 1.33× | 3.09× | ||
| Q4 24 | 1.99× | 0.90× | ||
| Q3 24 | 1.51× | 0.98× | ||
| Q2 24 | 1.53× | 2.16× | ||
| Q1 24 | 1.63× | 0.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCX
| Morenci | $2.5B | 47% |
| Grasberg Segment | $964.0M | 18% |
| Copper In Concentrates | $934.0M | 18% |
| Molybdenum | $541.0M | 10% |
| Gold | $388.0M | 7% |
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
