CF · Cf Industries Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $7.08B | $5.94B | $6.63B | $11.19B | $6.54B | $4.12B |
| Cost of Revenue | $4.36B | $3.88B | $4.09B | $5.33B | $4.15B | $3.32B |
| Gross Profit | $2.72B | $2.06B | $2.54B | $5.86B | $2.39B | $801.00M |
| R&D | - | - | - | - | - | - |
| SG&A | $364.00M | $320.00M | $289.00M | $290.00M | $223.00M | $206.00M |
| Total Operating Expenses | $438.00M | $314.00M | $307.00M | $558.00M | $705.00M | $189.00M |
| D&A | $898.00M | $925.00M | $869.00M | $850.00M | $888.00M | $892.00M |
| Operating Income | $2.30B | $1.75B | $2.23B | $5.40B | $1.73B | $623.00M |
| Interest Expense | $155.00M | $121.00M | $150.00M | $344.00M | $184.00M | $179.00M |
| Income Tax | $441.00M | $285.00M | $410.00M | $1.16B | $283.00M | $31.00M |
| Net Income | $1.46B | $1.22B | $1.52B | $3.35B | $917.00M | $317.00M |
| EPS - Basic | $8.98 | $6.75 | $7.89 | $16.45 | $4.27 | $1.48 |
| EPS - Diluted | $8.97 | $6.74 | $7.87 | $16.38 | $4.24 | $1.47 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.98B | $1.61B | $2.03B | $2.32B | $1.63B | $835.00M |
| Accounts Receivable | $488.00M | $404.00M | $505.00M | $582.00M | $497.00M | $265.00M |
| Inventory | $383.00M | $314.00M | $299.00M | $474.00M | $408.00M | $287.00M |
| Accounts Payable | $148.00M | $125.00M | $114.00M | $63.00M | $110.00M | $85.00M |
| Current Assets | $2.98B | $2.52B | $3.05B | $3.67B | $2.59B | $1.37B |
| Total Assets | $14.09B | $13.47B | $14.38B | $13.31B | $12.38B | $12.02B |
| Current Liabilities | $887.00M | $818.00M | $800.00M | $995.00M | $1.43B | $906.00M |
| Long-term Debt | $3.21B | $2.97B | $2.97B | $2.96B | $3.46B | $3.71B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $4.84B | $4.99B | $5.72B | $5.05B | $3.21B | $2.92B |
| Retained Earnings | $3.87B | $4.01B | $4.54B | $3.87B | $2.09B | $1.93B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.75B | $2.27B | $2.76B | $3.85B | $2.87B | $1.23B |
| Investing Cash Flow | ($933.00M) | ($469.00M) | ($1.68B) | ($440.00M) | ($466.00M) | ($299.00M) |
| Financing Cash Flow | ($1.48B) | ($2.21B) | ($1.37B) | ($2.70B) | ($1.46B) | ($542.00M) |
| CapEx | $950.00M | $518.00M | $499.00M | $453.00M | $514.00M | $309.00M |
| Free Cash Flow | $1.80B | $1.75B | $2.26B | $3.40B | $2.36B | $922.00M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 38.5% | 34.6% | 38.4% | 52.4% | 36.5% | 19.4% |
| Operating margin | 32.5% | 29.4% | 33.6% | 48.2% | 26.4% | 15.1% |
| EBITDA margin | 45.1% | 45.0% | 46.7% | 55.8% | 40.0% | 36.7% |
| Net margin | 20.5% | 20.5% | 23.0% | 29.9% | 14.0% | 7.7% |
| Free cash flow margin | 25.4% | 29.5% | 34.1% | 30.4% | 36.1% | 22.4% |
| FCF / Net income | 1.24 | 1.44 | 1.48 | 1.02 | 2.57 | 2.91 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 5.1% | 5.4% | 4.4% | 2.6% | 3.4% | 5.0% |
| Effective tax rate | 23.3% | 19.0% | 21.2% | 25.7% | 23.6% | 8.9% |
| Return on assets | 10.3% | 9.0% | 10.6% | 25.1% | 7.4% | 2.6% |
| Return on equity | 30.1% | 24.4% | 26.7% | 66.2% | 28.6% | 10.8% |
| Return on invested capital | 21.9% | 17.8% | 20.2% | 50.0% | 19.8% | 8.6% |
| Liquidity | ||||||
| Current ratio | 3.37 | 3.08 | 3.81 | 3.69 | 1.81 | 1.51 |
| Quick ratio | 2.93 | 2.70 | 3.44 | 3.22 | 1.53 | 1.19 |
| Cash ratio | 2.23 | 1.97 | 2.54 | 2.33 | 1.14 | 0.92 |
| Leverage | ||||||
| Debt / Equity | 0.66 | 0.60 | 0.52 | 0.59 | 1.08 | 1.27 |
| Debt / Assets | 0.23 | 0.22 | 0.21 | 0.22 | 0.28 | 0.31 |
| Debt / EBITDA | 1.01 | 1.11 | 0.96 | 0.47 | 1.32 | 2.45 |
| Interest coverage | 14.8x | 14.4x | 14.9x | 15.7x | 9.4x | 3.5x |
| Equity multiplier | 2.91 | 2.70 | 2.51 | 2.64 | 3.86 | 4.11 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.50 | 0.44 | 0.46 | 0.84 | 0.53 | 0.34 |
| Inventory turnover | 11.38 | 12.36 | 13.67 | 11.23 | 10.17 | 11.58 |
| Days sales outstanding | 25d | 25d | 28d | 19d | 28d | 23d |
| Days inventory outstanding | 32d | 30d | 27d | 32d | 36d | 32d |
| Days payable outstanding | 12d | 12d | 10d | 4d | 10d | 9d |
| Cash conversion cycle | 45d | 43d | 44d | 47d | 54d | 46d |
| Valuation | ||||||
| P / E | 8.6x | 12.7x | 10.1x | 5.2x | 16.7x | 26.3x |
| P / B | 2.6x | 3.1x | 2.7x | 3.4x | 4.8x | 2.9x |
| P / S | 1.8x | 2.6x | 2.3x | 1.6x | 2.3x | 2.0x |
| EV / EBITDA | 4.3x | 6.3x | 5.3x | 2.9x | 6.5x | 7.4x |
| Growth | ||||||
| Revenue growth (YoY) | 19.3% | -10.5% | -40.7% | 71.1% | 58.5% | -10.2% |
| Revenue CAGR (3y) | -14.1% | -3.2% | 17.2% | 34.6% | - | - |
| Revenue CAGR (5y) | 11.4% | 5.3% | - | - | - | -0.9% |
| Gross profit growth (YoY) | 32.5% | -19.2% | -56.6% | 145.5% | 198.0% | -31.8% |
| Operating income growth (YoY) | 31.7% | -21.7% | -58.7% | 212.1% | 177.5% | -37.9% |
| Net income growth (YoY) | 19.5% | -20.1% | -54.4% | 264.9% | 189.3% | -35.7% |
| EPS growth (YoY) | 33.1% | -14.4% | -52.0% | 286.3% | 188.4% | -34.1% |
| EPS CAGR (3y) | -18.2% | 16.7% | 74.9% | 94.4% | - | - |
| EPS CAGR (5y) | 43.6% | 24.8% | - | - | - | -13.1% |
| FCF growth (YoY) | 2.8% | -22.4% | -33.6% | 44.2% | 155.9% | -16.3% |
| FCF CAGR (5y) | 14.3% | 9.7% | - | - | - | - |
| Book value growth (YoY) | -2.9% | -12.8% | 13.2% | 57.5% | 9.7% | 0.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$7.63B totalAmmonia$2.18B · 28.5%
UAN$2.16B · 28.3%
Urea$1.78B · 23.3%
Other Products$545.00M · 7.1%
All Other Segments$545.00M · 7.1%
Ammonium Nitrate Segment$421.00M · 5.5%
Product / service
$80.00M totalCargo And Freight$80.00M · 100.0%
Geographic
$11.01B totalUS$5.34B · 48.5%
Non Us$1.75B · 15.9%
North America$1.70B · 15.5%
All Regions Outside Of USAnd Canada$712.00M · 6.5%
CA$598.00M · 5.4%
Europeand Other$474.00M · 4.3%
GB$378.00M · 3.4%
North Americaexcluding United Statesand Canada$58.00M · 0.5%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Agricultural Chemicals
Comparing CF Industries Holdings against the 5 most active filers in the same SIC group.
Dividends
$2.00/share trailing 12 months · 0.0% YoY
| Ex-date | Per share |
|---|---|
| May 15, 2026 | $0.5000 |
| Feb 13, 2026 | $0.5000 |
| Nov 14, 2025 | $0.5000 |
| Aug 15, 2025 | $0.5000 |
| May 15, 2025 | $0.5000 |
| Feb 14, 2025 | $0.5000 |
| Nov 15, 2024 | $0.5000 |
| Aug 15, 2024 | $0.5000 |
| May 14, 2024 | $0.5000 |
| Feb 14, 2024 | $0.5000 |
| Nov 14, 2023 | $0.4000 |
| Aug 14, 2023 | $0.4000 |
| May 12, 2023 | $0.4000 |
| Feb 14, 2023 | $0.4000 |
| Nov 14, 2022 | $0.4000 |
| Aug 12, 2022 | $0.4000 |
| May 13, 2022 | $0.4000 |
| Feb 14, 2022 | $0.3000 |
| Nov 12, 2021 | $0.3000 |
| Aug 13, 2021 | $0.3000 |
| May 14, 2021 | $0.3000 |
| Feb 12, 2021 | $0.3000 |
| Nov 13, 2020 | $0.3000 |
| Aug 14, 2020 | $0.3000 |