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Side-by-side financial comparison of Freeport-McMoRan (FCX) and Vistra Corp. (VST). Click either name above to swap in a different company.
Freeport-McMoRan is the larger business by last-quarter revenue ($5.3B vs $4.8B, roughly 1.1× Vistra Corp.). Freeport-McMoRan runs the higher net margin — 10.7% vs 4.8%, a 5.9% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs -10.4%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $-312.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
FCX vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $4.8B |
| Net Profit | $565.0M | $233.0M |
| Gross Margin | 12.4% | — |
| Operating Margin | 15.4% | 9.9% |
| Net Margin | 10.7% | 4.8% |
| Revenue YoY | -10.4% | 31.2% |
| Net Profit YoY | -21.6% | -47.2% |
| EPS (diluted) | — | $0.55 |
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 | $4.8B | ||
| Q3 25 | $6.8B | $4.8B | ||
| Q2 25 | $7.5B | $3.8B | ||
| Q1 25 | $5.6B | $4.3B | ||
| Q4 24 | $5.9B | $3.7B | ||
| Q3 24 | $6.7B | $4.3B | ||
| Q2 24 | $6.4B | $3.6B | ||
| Q1 24 | $6.2B | $3.2B |
| Q4 25 | $565.0M | $233.0M | ||
| Q3 25 | $1.2B | $652.0M | ||
| Q2 25 | $1.5B | $327.0M | ||
| Q1 25 | $793.0M | $-268.0M | ||
| Q4 24 | $721.0M | $441.0M | ||
| Q3 24 | $1.2B | $1.9B | ||
| Q2 24 | $1.3B | $365.0M | ||
| Q1 24 | $1.2B | $-35.0M |
| 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% | 9.9% | ||
| Q3 25 | 28.9% | 21.7% | ||
| Q2 25 | 32.3% | 13.7% | ||
| Q1 25 | 23.4% | -2.8% | ||
| Q4 24 | 21.1% | 16.4% | ||
| Q3 24 | 29.0% | 59.6% | ||
| Q2 24 | 32.0% | 22.5% | ||
| Q1 24 | 26.3% | 2.7% |
| Q4 25 | 10.7% | 4.8% | ||
| Q3 25 | 18.3% | 13.6% | ||
| Q2 25 | 20.6% | 8.7% | ||
| Q1 25 | 14.2% | -6.3% | ||
| Q4 24 | 12.3% | 12.0% | ||
| Q3 24 | 18.5% | 43.5% | ||
| Q2 24 | 20.0% | 10.1% | ||
| Q1 24 | 18.7% | -1.1% |
| Q4 25 | — | $0.55 | ||
| Q3 25 | $0.46 | $1.75 | ||
| Q2 25 | $0.53 | $0.81 | ||
| Q1 25 | $0.24 | $-0.93 | ||
| Q4 24 | — | $1.09 | ||
| Q3 24 | $0.36 | $5.25 | ||
| Q2 24 | $0.42 | $0.90 | ||
| Q1 24 | $0.32 | $-0.24 |
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 | $785.0M |
| Total DebtLower is stronger | $9.4B | $15.8B |
| Stockholders' EquityBook value | $18.9B | $5.1B |
| Total Assets | $58.2B | $41.5B |
| Debt / EquityLower = less leverage | 0.50× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8B | $785.0M | ||
| Q3 25 | $4.3B | $602.0M | ||
| Q2 25 | $4.5B | $458.0M | ||
| Q1 25 | $4.4B | $561.0M | ||
| Q4 24 | $3.9B | $1.2B | ||
| Q3 24 | $5.0B | $905.0M | ||
| Q2 24 | $5.3B | $1.6B | ||
| Q1 24 | $5.2B | $1.1B |
| Q4 25 | $9.4B | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | $9.4B | $15.4B | ||
| Q4 24 | $8.9B | $15.4B | ||
| Q3 24 | $9.7B | $13.9B | ||
| Q2 24 | $9.4B | $13.9B | ||
| Q1 24 | $9.4B | $14.7B |
| Q4 25 | $18.9B | $5.1B | ||
| Q3 25 | $18.7B | $5.2B | ||
| Q2 25 | $18.2B | $4.8B | ||
| Q1 25 | $17.7B | $4.8B | ||
| Q4 24 | $17.6B | $5.6B | ||
| Q3 24 | $17.5B | $5.4B | ||
| Q2 24 | $17.4B | $5.6B | ||
| Q1 24 | $17.0B | $5.7B |
| Q4 25 | $58.2B | $41.5B | ||
| Q3 25 | $56.8B | $38.0B | ||
| Q2 25 | $56.5B | $38.1B | ||
| Q1 25 | $56.0B | $38.2B | ||
| Q4 24 | $54.8B | $37.8B | ||
| Q3 24 | $55.4B | $37.9B | ||
| Q2 24 | $54.6B | $39.1B | ||
| Q1 24 | $54.2B | $38.2B |
| Q4 25 | 0.50× | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | 0.53× | 3.20× | ||
| Q4 24 | 0.51× | 2.77× | ||
| Q3 24 | 0.55× | 2.56× | ||
| Q2 24 | 0.54× | 2.49× | ||
| Q1 24 | 0.56× | 2.60× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $-312.0M | $596.0M |
| FCF MarginFCF / Revenue | -5.9% | 12.4% |
| Capex IntensityCapex / Revenue | 19.1% | 17.4% |
| Cash ConversionOCF / Net Profit | 1.23× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.1B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $693.0M | $1.4B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | $2.2B | $572.0M | ||
| Q1 25 | $1.1B | $599.0M | ||
| Q4 24 | $1.4B | $1.4B | ||
| Q3 24 | $1.9B | $1.7B | ||
| Q2 24 | $2.0B | $1.2B | ||
| Q1 24 | $1.9B | $312.0M |
| Q4 25 | $-312.0M | $596.0M | ||
| Q3 25 | $608.0M | $1.0B | ||
| Q2 25 | $934.0M | $-118.0M | ||
| Q1 25 | $-114.0M | $-169.0M | ||
| Q4 24 | $197.0M | $923.0M | ||
| Q3 24 | $673.0M | $1.0B | ||
| Q2 24 | $840.0M | $698.0M | ||
| Q1 24 | $642.0M | $-153.0M |
| Q4 25 | -5.9% | 12.4% | ||
| Q3 25 | 8.9% | 21.1% | ||
| Q2 25 | 12.4% | -3.1% | ||
| Q1 25 | -2.0% | -4.0% | ||
| Q4 24 | 3.4% | 25.2% | ||
| Q3 24 | 10.1% | 23.4% | ||
| Q2 24 | 13.1% | 19.4% | ||
| Q1 24 | 10.3% | -4.8% |
| Q4 25 | 19.1% | 17.4% | ||
| Q3 25 | 15.5% | 9.6% | ||
| Q2 25 | 16.8% | 18.4% | ||
| Q1 25 | 21.0% | 18.1% | ||
| Q4 24 | 21.1% | 11.7% | ||
| Q3 24 | 17.9% | 15.8% | ||
| Q2 24 | 17.4% | 13.8% | ||
| Q1 24 | 20.2% | 14.7% |
| Q4 25 | 1.23× | 6.15× | ||
| Q3 25 | 1.33× | 2.25× | ||
| Q2 25 | 1.42× | 1.75× | ||
| Q1 25 | 1.33× | — | ||
| Q4 24 | 1.99× | 3.07× | ||
| Q3 24 | 1.51× | 0.90× | ||
| Q2 24 | 1.53× | 3.28× | ||
| 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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
