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Side-by-side financial comparison of Freeport-McMoRan (FCX) and SHOPIFY INC. (SHOP). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $3.7B, roughly 1.4× SHOPIFY INC.). SHOPIFY INC. runs the higher net margin — 20.2% vs 10.7%, a 9.5% gap on every dollar of revenue. On growth, SHOPIFY INC. posted the faster year-over-year revenue change (30.6% vs -10.4%). SHOPIFY INC. produced more free cash flow last quarter ($715.0M vs $-312.0M). Over the past eight quarters, SHOPIFY INC.'s revenue compounded faster (40.5% CAGR vs -7.9%).
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.
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
FCX vs SHOP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $3.7B |
| Net Profit | $565.0M | $743.0M |
| Gross Margin | 12.4% | 46.1% |
| Operating Margin | 15.4% | 17.2% |
| Net Margin | 10.7% | 20.2% |
| Revenue YoY | -10.4% | 30.6% |
| Net Profit YoY | -21.6% | -42.5% |
| EPS (diluted) | — | $0.58 |
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 | $3.7B | ||
| Q3 25 | $6.8B | $2.8B | ||
| Q2 25 | $7.5B | $2.7B | ||
| Q1 25 | $5.6B | $2.4B | ||
| Q4 24 | $5.9B | $2.8B | ||
| Q3 24 | $6.7B | $2.2B | ||
| Q2 24 | $6.4B | $2.0B | ||
| Q1 24 | $6.2B | $1.9B |
| Q4 25 | $565.0M | $743.0M | ||
| Q3 25 | $1.2B | $264.0M | ||
| Q2 25 | $1.5B | $906.0M | ||
| Q1 25 | $793.0M | $-682.0M | ||
| Q4 24 | $721.0M | $1.3B | ||
| Q3 24 | $1.2B | $828.0M | ||
| Q2 24 | $1.3B | $171.0M | ||
| Q1 24 | $1.2B | $-273.0M |
| Q4 25 | 12.4% | 46.1% | ||
| Q3 25 | 29.2% | 48.9% | ||
| Q2 25 | 34.2% | 48.6% | ||
| Q1 25 | 24.3% | 49.5% | ||
| Q4 24 | 27.0% | 48.1% | ||
| Q3 24 | 30.0% | 51.7% | ||
| Q2 24 | 31.5% | 51.1% | ||
| Q1 24 | 28.5% | 51.4% |
| Q4 25 | 15.4% | 17.2% | ||
| Q3 25 | 28.9% | 12.1% | ||
| Q2 25 | 32.3% | 10.9% | ||
| Q1 25 | 23.4% | 8.6% | ||
| Q4 24 | 21.1% | 16.5% | ||
| Q3 24 | 29.0% | 13.1% | ||
| Q2 24 | 32.0% | 11.8% | ||
| Q1 24 | 26.3% | 4.6% |
| Q4 25 | 10.7% | 20.2% | ||
| Q3 25 | 18.3% | 9.3% | ||
| Q2 25 | 20.6% | 33.8% | ||
| Q1 25 | 14.2% | -28.9% | ||
| Q4 24 | 12.3% | 46.0% | ||
| Q3 24 | 18.5% | 38.3% | ||
| Q2 24 | 20.0% | 8.4% | ||
| Q1 24 | 18.7% | -14.7% |
| Q4 25 | — | $0.58 | ||
| Q3 25 | $0.46 | $0.20 | ||
| Q2 25 | $0.53 | $0.69 | ||
| Q1 25 | $0.24 | $-0.53 | ||
| Q4 24 | — | $0.99 | ||
| Q3 24 | $0.36 | $0.64 | ||
| Q2 24 | $0.42 | $0.13 | ||
| Q1 24 | $0.32 | $-0.21 |
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 | $5.8B |
| Total DebtLower is stronger | $9.4B | — |
| Stockholders' EquityBook value | $18.9B | $13.5B |
| Total Assets | $58.2B | $15.2B |
| Debt / EquityLower = less leverage | 0.50× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $5.8B | ||
| Q3 25 | $4.3B | $6.3B | ||
| Q2 25 | $4.5B | $5.8B | ||
| Q1 25 | $4.4B | $5.5B | ||
| Q4 24 | $3.9B | $5.5B | ||
| Q3 24 | $5.0B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.2B | — |
| Q4 25 | $9.4B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $9.4B | — | ||
| Q4 24 | $8.9B | — | ||
| Q3 24 | $9.7B | — | ||
| Q2 24 | $9.4B | — | ||
| Q1 24 | $9.4B | — |
| Q4 25 | $18.9B | $13.5B | ||
| Q3 25 | $18.7B | $12.5B | ||
| Q2 25 | $18.2B | $12.1B | ||
| Q1 25 | $17.7B | $11.1B | ||
| Q4 24 | $17.6B | $11.6B | ||
| Q3 24 | $17.5B | $10.1B | ||
| Q2 24 | $17.4B | $9.2B | ||
| Q1 24 | $17.0B | $8.9B |
| Q4 25 | $58.2B | $15.2B | ||
| Q3 25 | $56.8B | $15.0B | ||
| Q2 25 | $56.5B | $14.6B | ||
| Q1 25 | $56.0B | $13.4B | ||
| Q4 24 | $54.8B | $13.9B | ||
| Q3 24 | $55.4B | — | ||
| Q2 24 | $54.6B | — | ||
| Q1 24 | $54.2B | — |
| Q4 25 | 0.50× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.54× | — | ||
| Q1 24 | 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 | $693.0M | $725.0M |
| Free Cash FlowOCF − Capex | $-312.0M | $715.0M |
| FCF MarginFCF / Revenue | -5.9% | 19.5% |
| Capex IntensityCapex / Revenue | 19.1% | 0.3% |
| Cash ConversionOCF / Net Profit | 1.23× | 0.98× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $2.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $693.0M | $725.0M | ||
| Q3 25 | $1.7B | $513.0M | ||
| Q2 25 | $2.2B | $428.0M | ||
| Q1 25 | $1.1B | $367.0M | ||
| Q4 24 | $1.4B | $615.0M | ||
| Q3 24 | $1.9B | $423.0M | ||
| Q2 24 | $2.0B | $340.0M | ||
| Q1 24 | $1.9B | $238.0M |
| Q4 25 | $-312.0M | $715.0M | ||
| Q3 25 | $608.0M | $507.0M | ||
| Q2 25 | $934.0M | $422.0M | ||
| Q1 25 | $-114.0M | $363.0M | ||
| Q4 24 | $197.0M | $611.0M | ||
| Q3 24 | $673.0M | $421.0M | ||
| Q2 24 | $840.0M | $333.0M | ||
| Q1 24 | $642.0M | $232.0M |
| Q4 25 | -5.9% | 19.5% | ||
| Q3 25 | 8.9% | 17.8% | ||
| Q2 25 | 12.4% | 15.7% | ||
| Q1 25 | -2.0% | 15.4% | ||
| Q4 24 | 3.4% | 21.7% | ||
| Q3 24 | 10.1% | 19.5% | ||
| Q2 24 | 13.1% | 16.3% | ||
| Q1 24 | 10.3% | 12.5% |
| Q4 25 | 19.1% | 0.3% | ||
| Q3 25 | 15.5% | 0.2% | ||
| Q2 25 | 16.8% | 0.2% | ||
| Q1 25 | 21.0% | 0.2% | ||
| Q4 24 | 21.1% | 0.1% | ||
| Q3 24 | 17.9% | 0.1% | ||
| Q2 24 | 17.4% | 0.3% | ||
| Q1 24 | 20.2% | 0.3% |
| Q4 25 | 1.23× | 0.98× | ||
| Q3 25 | 1.33× | 1.94× | ||
| Q2 25 | 1.42× | 0.47× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.99× | 0.48× | ||
| Q3 24 | 1.51× | 0.51× | ||
| Q2 24 | 1.53× | 1.99× | ||
| Q1 24 | 1.63× | — |
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% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
