Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

Friday, December 28, 2018
Now Showing: Controls & Procedures

Thursday, December 27, 2018
A Reminder on Non-GAAP Reporting Rules

Monday, December 17, 2018
Researching PG&E’s Wildfire Risk

Wednesday, December 12, 2018
Tracking Brexit Disclosures

Thursday, December 6, 2018
Campbell Soup: Looking Behind the Label

Sunday, December 2, 2018
SEC Comment Letters: The Amazon Example

Wednesday, November 28, 2018
Measuring Big Pharma’s Chemical Dependency

Monday, November 26, 2018
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Monday, November 19, 2018
Digging Up Historical Trend Data: Quest Example

Sunday, November 11, 2018
Cost of Revenue, SG&A: Q3 Update

Monday, November 5, 2018
Lease Accounting: FedEx vs. UPS

Saturday, November 3, 2018
New Email Alerting Powers

Wednesday, October 31, 2018
PTC and Two Tales of Revenue

Tuesday, October 30, 2018
10-K/Q Section Text Change Detection

Sunday, October 28, 2018
Finding Purchase Price Allocation

Sunday, October 21, 2018
Charting Netflix Growth in Three Ways

Wednesday, October 17, 2018
Interesting Data on Interest Income

Thursday, October 11, 2018
The Decline of Sears in Three Charts

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Industry Snapshot: Metals and Mining
Monday, September 25, 2017

Another month, another glimpse into the fascinating world of corporate industry! This month we spotlight 348 companies in our Metals and Mining industry report.

The metals and mining sector has not been loving life in the last few years. Total revenue for the sector is down (gulp) 76 percent in recent years— from more than $120 billion in 2011 to barely $30 billion in 2016. Revenues were down 6 percent from 2015 to 2016 alone.

Not surprisingly, most other key metrics in the sector have gone nowhere but down, too. Consider…

  • Net income, down from more than $30 billion in 2011 to a net loss of more than $10 billion in 2015, although that loss narrowed last year.
  • Total operating expenses down by 41 percent, although average operating expenses are actually up 64 percent. (Thanks largely due to Freeport MacMoRan, the largest player in the sector, pulling down the totals with its massive cuts.)
  • Total cash down 49 percent across the whole six-year period, although cash jumped 95 percent 2015 to 2016.
  • R&D expenses down 94 percent over the six years, including a 45 percent cut from 2015 to 2016.

Across the grand sweep of the economy, none of these metrics are surprising. The mining sector is prone to booms and busts, and busts in coal and iron ore have been a slow-motion disaster since 2012. That’s mostly due to China’s economy, long as hot as the sun, cooling off in recent years. Demand for coal, iron ore, and other materials has since sputtered. Other struggling economies around the world, including our own in the early 2010s, did not help.

Analysts who cover the sector can read our full Metals and Mining Sector report, plus many more, all posted on the Calcbench Research page. Upon request, we can also help subscribers with their own bespoke reports that track other criteria.

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