Freeport-McMoRan Inc. vs RIO TINTO PLC, two Mining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Freeport is pure copper torque with its trailing earnings noise-ridden; Rio Tinto is iron-ore ballast with copper attached, printing an 11.1% free-cash yield at 15.3 times earnings. Rio wins every measurable line this year: a 25.9% operating margin against Freeport's washed-through bottom line, 15.3% returns on equity against 15.1% (a tie, fairly), and the cash conversion gap. What Freeport sells is undiluted exposure: more copper per invested dollar than any major, 0.31 turns of leverage, a 1% dividend while waiting. Rio's page is delivery; Freeport's is beta. The market values the beta at $90B and the delivery at $152B, both reasonable, neither cheap by mining's older habits.
Comparison updated 2026-07-10.
| Metric | FCX | RIO |
|---|---|---|
| Price | $62.31 | $93.73 |
| Market cap | $90.0B | $152.2B |
| Sector | Mining | Mining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +23.0% | -3.8% |
| P/E | — | 15.3 |
| P/B | 2.86 | 2.27 |
| P/S | 3.40 | 2.64 |
| EV/EBITDA | 12.2 | 9.6 |
| Revenue growth | +6.2% | -2.4% |
| Operating margin | 34.2% | 25.9% |
| Net margin | 17.9% | 17.8% |
| Return on equity | 15.1% | 15.3% |
| Return on assets | 8.1% | 8.0% |
| Return on invested capital | 14.0% | 15.7% |
| FCF yield | 1.9% | 11.1% |
| Dividend yield | 1.0% | — |
| Debt / equity | 0.31 | 0.00 |
| Current ratio | 2.39 | 1.44 |
| Altman Z (solvency) | 2.76 | 2.90 |
| Piotroski F (quality) | 8 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.