CVR Energy Inc.
CVI Energy Oil & Gas Refining & Marketing
CVR Energy Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, down 5.89% from fiscal 2024. In the quarter to June 2026, revenue grew 55.5%, EPS grew 97.4%, free cash flow grew 104.7% and total debt fell 4.22%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
Follow CVI
CVR Energy Inc. (CVI) Altman Z-score
CVR Energy Inc.'s Altman Z-score for fiscal 2025 is 2.53, in the grey zone (1.81–2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.53 | 0.42 |
| FY2024 | 2.11 | (1.08) |
| FY2023 | 3.18 | (0.52) |
| FY2022 | 3.70 | 1.72 |
| FY2021 | 1.97 | 0.88 |
| FY2020 | 1.09 | (2.29) |
| FY2019 | 3.38 | 0.05 |
| FY2018 | 3.32 | 0.64 |
| FY2017 | 2.69 | 0.78 |
| FY2016 | 1.91 | (1.57) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.15 | — | 0.18 | |
| Retained earnings / total assets | (0.21) | — | −0.29 | |
| EBIT / total assets | 0.05 | — | 0.16 | |
| Market value of equity / total liabilities | 0.91 | — | 0.55 | |
| Sales / total assets | 1.93 | — | 1.93 | |
| Altman Z-score | Grey zone | 2.53 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.98 | ||
Z and Z″ put CVR Energy Inc. in different zones: grey zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| UGP Ultrapar Participacoes S.A. compare | 4.0× |
| PARR Par Pacific Holdings, Inc. compare | 3.3× |
| PBF PBF Energy Inc. compare | 2.9× |
| CVI CVR Energy Inc. | 2.5× |
| DK Delek US Holdings, Inc. compare | 1.7× |
| SUN Sunoco LP compare | — |
| IEP Icahn Enterprises L.P. compare | — |
| SHI SINOPEC Shangai Petrochemical Company, Ltd. compare | — |
| DKL Delek Logistics Partners, L.P. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets