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Nutrien Ltd.

NTR Basic Materials Agricultural Inputs

Nutrien Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $26.9 billion, up 3.52% from fiscal 2024.

Revenue
+3.58%
EPS
+0.80%
Free cash flow
−5.72%
Total debt
−7.32%

Quarter to June 2026, against a year earlier

72.48 0.27 +0.37%
Market cap
$34.4B
P/E
14.6×
Fwd P/E
15.1×
Dividend yield
3.04%
F-score
8/9
Altman Z
1.83
Beneish M
−2.62
Dividend safety
66/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.78%

Capital & Financial Ratios $m

Size
Market Cap 34,380.00
Revenue ttm 28,205.00
Net income ttm 2,410.00
Free cash flow ttm 2,087.00
Net debt Q 10,467.00
Valuation
P/E 14.64
Forward P/E 15.10
Price / sales 1.23
Forward P/S Powerpack
Price / FCF 18.70
Price / book 1.34
Financial health
Current ratio Q 1.39
Debt / equity Q 0.44 (at or below 0.5: strong)
Interest coverage Q 10.27
Growth
Revenue growth Q +3.58% (above 0%: growing)
Operating income growth Q −0.28% (below 0%: shrinking)
EPS, this year +6.04%
EPS, next year A +5.34%
Revenue, next year A +3.01%
EPS, past 5 yrs +41.90% (at or above 15%: strong)
EPS, next 5 yrs A +1.12%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 1.8×; over the ten years it ranged from 1.1× in 2023 to 10.6× in 2018.
P/E against its own 10 years 35.28%
10-year low 10-year high
P/S against its own 10 years 41.33%
10-year low 10-year high
P/B against its own 10 years 46.39%
10-year low 10-year high
EV/Sales against its own 10 years 38.21%
10-year low 10-year high
EV/FCF against its own 10 years 50.47%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.04%
Annual rate
2.20
Payout ratio
44.4%
Growth, 2017–25
+10.9%/yr
  1. 0.95 ’17
  2. 1.63 ’18 +72
  3. 1.76 ’19 +8
  4. 1.80 ’20 +2
  5. 1.84 ’21 +2
  6. 1.92 ’22 +4
  7. 2.12 ’23 +10
  8. 2.16 ’24 +2
  9. 2.18 ’25 +1
  10. 2.20 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 941 853 701 921
Receivables 5,398 5,390 5,675 8,687
Inventory 6,336 6,148 6,977 6,164
Other — — — —
14,170 13,792 14,749 16,167
2023 2024 2025 Q'26
Payables 9,467 9,118 9,309 9,296
ST’ Debt 2,327 2,571 1,386 1,961
Other — — — —
12,121 12,045 11,041 11,623

Compound Annual Growth %

10y 5y 3y
Sales 15.65% 5.16% (10.80%)
Cash Flow 5.54% 3.81% (20.94%)
Earnings 5.97% 37.63% (33.36%)
Book Value 11.71% 2.51% (0.65%)

Earnings Trends EPS, adjusted, against the consensus

Sep 2026 Estimate 0.74 Actual 0.61

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2025 0.87 0.83 Miss by 0.04
Mar 2026 0.48 0.51 Beat by 0.03
Jun 2026 2.70 2.61 Miss by 0.09
Sep 2026 0.74 0.61 Miss by 0.13
Dec 2026 0.97 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.27 2.53 — — —
’25 0.02 2.50 0.96 1.18 4.66
’24 0.32 0.78 0.04 0.23 1.36
’23 1.14 0.89 0.15 0.35 2.53
’22 2.49 6.51 2.94 2.15 14.18
’21 0.22 1.94 1.25 2.11 5.52
’20 (0.06) 1.34 (1.03) 0.55 0.81
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 6,046 10,812 — — —
’25 5,100 10,438 6,007 5,340 26,885
’24 5,389 10,156 5,348 5,079 25,972
’23 6,107 11,654 5,631 5,664 29,056
’22 7,657 14,506 8,188 7,533 37,884
’21 4,658 9,763 6,024 7,267 27,712
’20 4,198 8,431 4,227 4,052 20,908
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (851) 2,484 — — —
’25 (1,082) 2,538 (426) 2,977 4,007
’24 (487) 1,807 (908) 3,123 3,535
’23 (858) 2,243 (469) 4,150 5,066
’22 (62) 2,558 878 4,736 8,110
’21 (152) 1,966 (1,565) 3,637 3,886
’20 (526) 1,756 (685) 2,778 3,323
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,176) 1,993 — — —
’25 (1,382) 2,114 (956) 2,226 2,002
’24 (840) 1,281 (1,416) 2,356 1,381
’23 (1,323) 1,452 (1,103) 3,440 2,466
’22 (413) 2,081 242 3,725 5,635
’21 (543) 1,540 (2,057) 2,991 2,002
’20 (921) 1,422 (1,038) 2,657 2,188
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 4,456 4,547 19,636 20,084 20,908 27,712 37,884 29,056 25,972 26,885 28,205 +22.1% 27,695 27,483 27,292 +0.5%
Gross margin, % 18.63 15.26 27.46 27.39 25.06 33.95 40.71 29.16 28.99 31.05 31.02 +12.4 pt
EBT 243 (29) (124) 1,308 382 4,168 10,246 1,952 1,136 3,049 3,163 +32.5%
EBT margin, % 5.45 (0.64) (0.63) 6.51 1.83 15.04 27.05 6.72 4.37 11.34 11.21 +5.9 pt
Net income 323 327 3,573 992 459 3,179 7,687 1,282 700 2,297 2,410 +24.4%
Per share, $
Per share, $ Revenue 13.28 13.53 31.42 34.49 36.70 48.65 70.35 58.54 52.55 55.28 58.81 +17.2%
Earnings 1.00 0.97 5.72 1.70 0.81 5.53 14.22 2.53 1.36 4.66 4.94 +18.6%
Cash flow 3.75 3.65 3.28 6.29 5.83 6.82 15.06 10.21 7.15 8.24 8.72 +9.1%
Capex (2.66) (1.94) (2.41) (3.25) (1.99) (3.31) (4.60) (5.24) (4.36) (4.12) (4.37) +5.0%
Free cash flow 1.09 1.71 0.87 3.05 3.84 3.51 10.46 4.97 2.79 4.12 4.35 +15.9%
Book value 24.43 24.71 39.09 39.28 39.33 41.60 48.03 50.77 49.46 52.16 54.08 +8.8%
Shares, m 336 336 625 582 570 570 538 496 494 486 483 +4.2%
Valuation, ×
Valuation, × P/E 47.09 49.35 8.13 27.85 60.20 13.60 5.07 22.54 32.66 13.22 14.64 28.0
P/S 3.41 10.12 1.50 1.39 1.31 1.55 1.02 0.97 0.85 1.12 1.23 2.3
P/B 1.85 5.54 1.20 1.22 1.22 1.81 1.49 1.12 0.90 1.18 1.34 1.8
EV/Sales 4.43 11.07 1.85 1.86 1.73 1.88 1.28 1.33 1.26 1.49 1.60 2.8
EV/FCF 53.84 87.66 56.04 21.00 17.45 29.38 8.96 17.29 28.50 22.64 24.35 34.3
Cash, $m
Cash, $m Operating cash flow 1,260 1,225 2,052 3,665 3,323 3,886 8,110 5,066 3,535 4,007 4,184 +13.7%
Capex (893) (651) (1,507) (1,891) (1,135) (1,884) (2,475) (2,600) (2,154) (2,005) (2,097) +9.4%
Free cash flow 367 574 545 1,774 2,188 2,002 5,635 2,466 1,381 2,002 2,087 +20.7%
Balance, $m
Balance, $m Working capital (303) 1,721 3,327 1,536 2,990 1,403 2,062 2,049 1,747 3,708 4,544 n/m
Net debt 4,559 4,325 6,889 9,360 8,766 9,127 9,823 10,299 10,599 10,035 10,467 +9.2%
Shareholders’ equity 8,199 8,303 24,425 22,869 22,403 23,699 25,863 25,201 24,442 25,365 25,938 +13.4%
Returns, %
Returns, % ROA 1.86 1.91 11.43 2.15 0.98 6.49 14.65 2.34 1.29 4.35 4.46 +2.5 pt
ROIC 2.25 1.03 0.83 3.61 1.81 9.10 18.93 4.83 3.31 6.60 6.64 +4.4 pt
ROE 3.90 3.96 21.83 4.20 2.03 13.68 30.91 4.93 2.72 9.10 9.32 +5.2 pt
People
People Employees 5,130 5,104 20,300 22,300 23,100 23,500 24,700 25,900 25,500 25,100 — +19.3%
Revenue/emp, $m 0.87 0.89 0.97 0.90 0.91 1.18 1.53 1.12 1.02 1.07 — +2.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Nutrien Ltd. 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. $34.4B 14.6× 15.1× +3.58% (above 0%: growing) +0.80% (above 0%: growing) −5.72% (below 0%: shrinking) 30.07% 16.44%
CF CF Industries Holdings, Inc. $17.9B 8.3× 8.0× +12.12% (above 0%: growing) +31.51% (above 0%: growing) +23.85% (above 0%: growing) 38.71% 37.69% Compare
CTVA Corteva, Inc. $8.0B 8.0× 14.2× −1.19% (below 0%: shrinking) −9.90% (below 0%: shrinking) −169.39% (below 0%: shrinking) 57.39% 26.21% Compare
MOS The Mosaic Company $7.1B — (loss-making) — (loss-making) −10.18% (below 0%: shrinking) n/m +102.12% (above 0%: growing) 2.71% (3.12%) Compare
ICL ICL Group Ltd. $6.0B 19.5× 20.4× +16.54% (above 0%: growing) +57.14% (above 0%: growing) +38.81% (above 0%: growing) 31.10% 12.46% Compare
SMG The Scotts Miracle-Gro Company $3.9B 37.2× 23.4× −39.12% (below 0%: shrinking) n/m +24.47% (above 0%: growing) (0.69%) (47.21%) Compare
UAN CVR Partners, LP $1.2B 10.8× — −10.64% (below 0%: shrinking) n/m +5.14% (above 0%: growing) 21.70% (2.49%) Compare
FMC FMC Corporation $944.2M — (loss-making) — (loss-making) −80.47% (below 0%: shrinking) n/m +90.90% (above 0%: growing) (379.23%) (1,050.24%) Compare
IPI Intrepid Potash, Inc $422.1M 16.9× — (loss-making) −4.11% (below 0%: shrinking) −54.76% (below 0%: shrinking) −85.77% (below 0%: shrinking) 19.68% 0.41% Compare
Median of peers $4.9B 13.9× 17.3× −7.14% +10.81% +24.16% 20.69% (1.04%)

All 15 Agricultural Inputs stocks →

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NTR metrics, ten years each

stockrow.com/NTR · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com