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CF Industries Holdings, Inc.

CF Basic Materials Agricultural Inputs

CF Industries Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.1 billion, up 19.3% from fiscal 2024. In the quarter to June 2026, revenue grew 17.6%, EPS grew 100.0%, free cash flow grew 88.8% and total debt rose 8.17%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

120.85 1.08 +0.90%
Market cap
$18.1B
P/E
8.9×
Fwd P/E
6.2×
Dividend yield
1.74%
F-score
8/9
Altman Z
2.80
Beneish M
−2.67
Dividend safety
82/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K
Impairment
All filings →

Insider Decisions trades per month

Total sells 72.18
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 5 20 — — — — — — —
Insider Ownership 2.04%

Capital & Financial Ratios $m

Market Cap 18,130.00
Revenue 7,739.00
Net Income 2,500.00
Free Cash Flow 1,911.00
Net Debt 736.00
Current Ratio 4.86 (at or above 1.5: strong)
Debt/Equity 0.36 (at or below 0.5: strong)
P/E ratio 8.94
Fwd P/E 6.23
P/S ratio 2.40
P/B ratio 2.08
Past 5Y EPS Growth 43.58% (at or above 15%: strong)
This Y EPS Growth 56.02% (at or above 15%: strong)
Next Y EPS Growth (24.47%) (below 0%: weak)
Next Y revenue growth 16.97% (at or above 10%: strong)
Next 5Y EPS Growth (2.18%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.6×, against a ten-year median of 2.7×; over the ten years it ranged from 1.2× in 2023 to 4.1× in 2018.
P/E against its own 10 years 17.14%
10-year low 10-year high
P/S against its own 10 years 75.27%
10-year low 10-year high
P/B against its own 10 years 80.61%
10-year low 10-year high
EV/Sales against its own 10 years 38.15%
10-year low 10-year high
EV/FCF against its own 10 years 51.18%
10-year low 10-year high

Dividends

Payout Ratio 0.16
Annual Dividend Rate 2.10
Annual Dividend Yield 1.74%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.15
0.50
0.50
0.60
2025 2.00
0.50
0.50
0.50
0.50
2024 2.00
0.50
0.50
0.50
0.50
2023 1.60
0.40
0.40
0.40
0.40
2022 1.50
0.30
0.40
0.40
0.40
2021 1.20
0.30
0.30
0.30
0.30
2020 1.20
0.30
0.30
0.30
0.30
2019 1.20
0.30
0.30
0.30
0.30
2018 1.20
0.30
0.30
0.30
0.30
2017 1.20
0.30
0.30
0.30
0.30
2016 1.20
0.30
0.30
0.30
0.30
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,032 1,614 1,982 2,480
Receivables 505 404 488 718
Inventory 299 314 383 415
Other 47 43 27 40
3,050 2,520 2,985 3,752
2023 2024 2025 Q'26
Payables 520 603 681 642
ST’ Debt — — — —
Other 172 127 96 26
800 818 887 772

Compound Annual Growth %

10y 5y 3y
Sales 5.10% 11.43% (14.12%)
Cash Flow 8.59% 17.46% (10.63%)
Earnings 7.59% 35.63% (24.24%)
Book Value 5.89% 6.77% (0.33%)

Revenue $m

Mar Jun Sep Dec Year
’26 1,986 2,222 — — —
’25 1,663 1,890 1,659 1,872 7,084
’24 1,470 1,572 1,370 1,524 5,936
’23 2,012 1,775 1,273 1,571 6,631
’22 2,868 3,389 2,321 2,608 11,186
’21 1,048 1,588 1,362 2,540 6,538
’20 971 1,204 847 1,102 4,124
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 496 878 — — —
’25 586 563 1,064 539 2,752
’24 445 475 931 420 2,271
’23 947 712 618 480 2,757
’22 1,391 889 990 585 3,855
’21 578 128 687 1,480 2,873
’20 292 426 223 290 1,231
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 273 608 — — —
’25 456 322 717 313 1,808
’24 347 391 792 226 1,756
’23 878 618 471 292 2,259
’22 1,329 823 800 451 3,403
’21 507 18 486 1,349 2,360
’20 225 374 138 187 924
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 3.98 4.73 — — —
’25 1.85 2.37 2.19 2.59 8.97
’24 1.03 2.30 1.55 1.89 6.74
’23 2.85 2.70 0.85 1.44 7.87
’22 4.21 5.58 2.18 4.35 16.38
’21 0.70 1.14 (0.86) 3.27 4.24
’20 0.31 0.89 (0.13) 0.40 1.47
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 20.77 25.04 35.70 38.90 19.73 38.06 63.10 60.08 69.13 67.34

Analyst estimates 2026–2028

Powerpack
High 40.95 43.42 56.51 55.15 48.19 74.77 119.60 91.23 94.46 104.45
People
People Employees 3,000 3,000 3,000 3,000 3,000 3,000 2,700 2,700 2,800 2,900
Revenue/emp, $m 1.23 1.38 1.48 1.53 1.37 2.18 4.14 2.46 2.12 2.44
Income, $m
Income, $m Revenue 3,685 4,130 4,429 4,590 4,124 6,538 11,186 6,631 5,936 7,084
Gross margin, % 22.88 10.51 20.70 25.58 19.42 36.51 52.40 38.38 34.64 38.45
EBT (226) (125) 547 772 463 1,543 5,095 2,248 1,762 2,239
EBT margin, % (6.13) (3.03) 12.35 16.82 11.23 23.60 45.55 33.90 29.68 31.61
Net income (158) 450 428 646 432 1,260 3,937 1,838 1,477 1,798
Depreciation 678 883 888 875 892 888 850 869 925 898
Per share, $
Per share, $ Revenue 15.81 17.69 19.04 20.84 19.19 30.41 55.02 34.30 32.90 43.70
Earnings (1.19) 1.53 1.25 2.24 1.48 4.27 16.45 7.89 6.75 8.98
Cash flow 2.65 6.99 6.44 6.83 5.73 13.36 18.96 14.26 12.59 16.98
Capex (9.43) (1.94) (1.70) (1.52) (1.43) (2.39) (2.22) (2.58) (2.85) (5.82)
Free cash flow (6.78) 5.05 4.73 5.32 4.30 10.98 16.74 11.69 9.73 11.15
Book value 27.85 28.63 24.64 25.60 26.07 28.07 38.63 43.32 42.08 47.96
Shares, m 233 234 233 220 215 215 203 193 180 162
Valuation, ×
Valuation, × P/E 0.00 28.20 35.09 21.41 26.33 16.58 5.00 10.38 12.60 8.58
P/S 2.02 2.44 2.29 2.29 2.02 2.33 1.49 2.38 2.59 1.77
P/B 1.14 1.51 1.77 1.86 1.48 2.52 2.12 1.88 2.03 1.61
EV/Sales 3.27 3.57 3.37 3.11 2.81 2.62 1.59 2.60 2.91 2.01
EV/FCF (7.62) 12.50 13.56 12.19 12.55 7.26 5.23 7.62 9.82 7.89
Cash, $m
Cash, $m Operating cash flow 617 1,631 1,497 1,505 1,231 2,873 3,855 2,757 2,271 2,752
Capex (2,197) (453) (396) (334) (307) (513) (452) (498) (515) (944)
Free cash flow (1,580) 1,178 1,101 1,171 924 2,360 3,403 2,259 1,756 1,808
Balance, $m
Balance, $m Working capital 1,969 885 569 309 461 1,161 2,678 2,250 1,702 2,098
Total debt 5,778 4,692 4,698 4,047 3,961 3,465 2,965 2,968 2,971 3,215
Net debt 4,609 3,857 4,016 3,760 3,278 1,837 642 936 1,357 1,233
Shareholders’ equity 6,492 6,684 5,731 5,637 5,603 6,036 7,853 8,373 7,592 7,775
Returns, %
Returns, % ROA (1.99) 2.50 2.22 3.97 2.62 7.52 26.05 11.02 8.75 10.56
ROIC 0.78 1.39 4.91 6.67 4.38 13.73 39.71 14.97 12.19 15.96
ROE (5.09) 5.43 4.67 8.67 5.64 15.76 48.18 18.80 15.26 18.94
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

CF Industries Holdings, Inc. vs peers in Agricultural Inputs (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NTR Nutrien Ltd. $33.1B 14.4× 12.3× +3.58% (above 0%: growing) +0.80% (above 0%: growing) −5.72% (below 0%: shrinking) 30.07% 16.44% Compare
CF CF Industries Holdings, Inc. $18.1B 8.9× 6.2× +17.57% (above 0%: growing) +100.00% (above 0%: growing) +88.82% (above 0%: growing) 51.53% 50.45%
CTVA Corteva, Inc. $8.6B 8.5× 28.9× −1.19% (below 0%: shrinking) −9.90% (below 0%: shrinking) −169.39% (below 0%: shrinking) 57.39% 26.21% Compare
ICL ICL Group Ltd. $6.4B 20.7× 20.4× +16.54% (above 0%: growing) +57.14% (above 0%: growing) +38.81% (above 0%: growing) 31.10% 12.46% Compare
MOS The Mosaic Company $6.0B — (loss-making) — (loss-making) −6.04% (below 0%: shrinking) n/m −149.10% (below 0%: shrinking) 7.60% (1.26%) Compare
SMG The Scotts Miracle-Gro Company $3.2B 43.7× 18.6× +1.10% (above 0%: growing) −25.19% (below 0%: shrinking) −26.61% (below 0%: shrinking) 31.22% 14.47% Compare
UAN CVR Partners, LP $1.4B 8.3× — +19.95% (above 0%: growing) +99.73% (above 0%: growing) +177.34% (above 0%: growing) 57.09% 41.95% Compare
FMC FMC Corporation $874.2M — (loss-making) 6.4× −17.46% (below 0%: shrinking) n/m +882.90% (above 0%: growing) 39.45% (13.80%) Compare
IPI Intrepid Potash, Inc $434.2M 16.2× — (loss-making) −1.26% (below 0%: shrinking) +372.00% (above 0%: growing) −31.61% (below 0%: shrinking) 24.97% 1.59% Compare
Median of peers $4.6B 15.3× 18.6× −0.05% +28.97% −16.17% 31.16% 13.47%

All 18 Agricultural Inputs stocks →

CF metrics, ten years each

CF Industries Holdings, Inc. (CF) key facts

  • Strength: CF Industries Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.1 billion, up 19.3% from fiscal 2024.
  • Strength: Net income was $1.8 billion, or $8.98 per share (basic), a net margin of 20.5%.
  • CF Industries Holdings, Inc. (CF) is an Agricultural Inputs company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, CF traded at $120.85, a market capitalization of $18.1 billion.
  • At that price the stock trades at 8.9× trailing-twelve-month earnings and 2.4× sales; its P/E is higher than 17% of its own readings over the past ten years.
  • CF Industries Holdings, Inc. pays an annual dividend of $2.10 per share, a yield of 1.74%, with a payout ratio of 15.6%.
  • Return on equity was 18.9% and debt-to-equity 0.36.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 2.80 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

CF Industries Holdings, Inc. (CF) Latest News

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stockrow.com/CF · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com