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CVR Partners, LP

UAN Basic Materials Agricultural Inputs

CVR Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $606.0 million, up 15.4% from fiscal 2024.

Revenue
−10.6%
EPS
−124.9%
Free cash flow
+5.14%
Total debt
−0.04%

Quarter to September 2026, against a year earlier

109.71 1.12 +1.03%
Market cap
$1.2B
P/E
10.9×
Fwd P/E
—
Dividend yield
13.2%
F-score
8/9
Altman Z
n/a
Beneish M
−2.84
Dividend safety
12/100
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 43.14%

Capital & Financial Ratios $m

Size
Market Cap 1,150.00
Revenue ttm 659.46
Net income ttm 106.41
Free cash flow ttm 148.77
Net debt Q 410.70
Valuation
P/E 10.90
Forward P/E —
Price / sales 1.76
Forward P/S Powerpack
Price / FCF 7.80
Price / book 4.26
Financial health
Current ratio Q 1.65 (at or above 1.5: strong)
Debt / equity Q 2.09 (above 2: weak)
Interest coverage Q (0.51)
Growth
Revenue growth Q −10.64% (below 0%: shrinking)
Operating income growth Q −107.19% (below 0%: shrinking)
EPS, this year +48.23% (at or above 15%: strong)
EPS, next year A +27.69% (at or above 15%: strong)
Revenue, next year A —
EPS, past 5 yrs —
EPS, next 5 yrs A +5.74%

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 2.4×, against a ten-year median of 2.6×; over the ten years it ranged from 1.5× in 2023 to 5.2× in 2016.
P/E against its own 10 years 56.78%
10-year low 10-year high
P/S against its own 10 years 75.48%
10-year low 10-year high
P/B against its own 10 years 95.71%
10-year low 10-year high
EV/Sales against its own 10 years 34.42%
10-year low 10-year high
EV/FCF against its own 10 years 34.15%
10-year low 10-year high

Dividends

Yield
13.2%
Annual rate
14.47
Payout ratio
143.8%
Growth, 2016–26
+3.94%/yr
  1. 7.10 ’16
  2. 0.20 ’17 −97
  3. 4.00 ’19 +1900
  4. 4.65 ’21 +16
  5. 19.32 ’22 +315
  6. 26.62 ’23 +38
  7. 6.69 ’24 −75
  8. 11.92 ’25 +78
  9. 10.45 ’26 −12
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 45 91 69 158
Receivables 42 65 59 54
Inventory 69 76 83 85
Other 1 1 1 0
166 234 214 299
2023 2024 2025 Q'26
Payables 39 37 48 78
ST’ Debt — — — —
Other 21 24 25 36
75 111 97 181

Compound Annual Growth %

10y 5y 3y
Sales 7.68% 11.61% (10.15%)
Cash Flow 6.67% 49.95% (20.82%)
Earnings 4.75% 0.00% (29.93%)
Book Value (3.65%) (3.30%) (13.59%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY18 Estimate −1.00 Actual −1.20

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY17 −1.40 −2.40 Miss by 1.00
Q1 FY18 −1.30 −1.70 Miss by 0.40
Q2 FY18 −2.40 −1.50 Beat by 0.90
Q3 FY18 −1.00 −1.20 Miss by 0.20

EPS $

Mar Jun Sep Dec Year
’26 4.72 7.33 (1.02) — —
’25 2.56 3.67 4.08 (0.97) 9.33
’24 1.19 2.48 0.36 1.73 5.76
’23 9.64 5.66 0.07 0.94 16.31
’22 8.78 11.12 (1.87) 9.02 27.07
’21 (2.37) 0.66 3.28 5.76 7.31
’20 (1.80) (3.70) (1.70) (1.53) (8.77)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 180 202 146 — —
’25 143 169 164 131 606
’24 128 133 125 140 525
’23 226 183 131 142 681
’22 223 244 156 212 836
’21 61 138 145 189 533
’20 75 105 79 90 350
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 76 66 117 — —
’25 55 24 92 (22) 150
’24 42 9 87 13 151
’23 130 61 70 (18) 244
’22 167 49 89 (3) 301
’21 26 (3) 97 68 189
’20 28 (21) 22 (9) 20
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 59 51 84 — —
’25 46 18 80 (45) 99
’24 34 2 82 (6) 113
’23 127 57 64 (28) 219
’22 159 43 69 (14) 257
’21 23 (5) 92 58 168
’20 21 (24) 17 (13) 1
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 356 331 351 404 350 533 836 681 525 606 659 +6.1% — — — —
Gross margin, % 31.52 27.08 29.42 33.76 28.84 44.22 52.00 45.81 39.40 40.47 39.94 +9.0 pt
EBT (27) (73) (50) (35) (98) 78 287 173 61 99 106 n/m
EBT margin, % (7.47) (21.94) (14.26) (8.66) (28.05) 14.69 34.34 25.35 11.61 16.28 16.13 +23.8 pt
Net income (27) (73) (50) (35) (98) 78 287 172 61 99 106 n/m
Per share, $
Per share, $ Revenue 34.49 29.20 30.99 35.68 31.26 49.84 78.88 64.47 49.70 57.34 62.39 +5.8%
Earnings (2.60) (6.40) (4.40) (3.10) (8.77) 7.31 27.07 16.31 5.76 9.33 10.06 n/m
Cash flow 4.35 0.92 2.85 3.46 1.76 17.66 28.46 23.04 14.24 14.16 22.40 +14.0%
Capex (2.25) (1.28) (1.73) (1.64) (1.66) (1.90) (4.21) (2.29) (3.51) (4.80) (8.33) +8.8%
Free cash flow 2.10 (0.37) 1.11 1.82 0.11 15.76 24.25 20.75 10.74 9.36 14.07 +18.0%
Book value 60.50 48.54 44.12 37.04 28.07 32.03 38.88 28.65 27.73 25.14 25.73 (9.3%)
Shares, m 10 11 11 11 11 11 11 11 11 11 11 +0.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 11.28 3.79 4.16 13.19 10.97 10.90 4.3
P/S 1.84 1.21 1.10 0.87 0.51 1.66 1.30 1.05 1.53 1.79 1.76 1.3
P/B 1.05 0.73 0.77 0.84 0.57 2.58 2.64 2.37 2.74 4.08 4.26 1.8
EV/Sales 3.78 3.33 3.07 2.65 2.24 2.60 1.85 1.79 2.44 2.62 2.38 2.6
EV/FCF 61.94 (265.34) 85.48 51.95 659.64 8.22 6.03 5.57 11.30 16.03 10.57 64.1
Cash, $m
Cash, $m Operating cash flow 45 10 32 39 20 189 301 244 151 150 237 +14.3%
Capex (23) (15) (20) (19) (19) (20) (45) (24) (37) (51) (88) +9.1%
Free cash flow 22 (4) 13 21 1 168 257 219 113 99 149 +18.3%
Balance, $m
Balance, $m Working capital 72 62 71 49 42 100 140 90 122 117 117 +5.6%
Net debt 568 577 567 595 606 498 460 502 477 500 411 (1.4%)
Shareholders’ equity 625 550 500 420 314 342 412 303 293 266 272 (9.1%)
Returns, %
Returns, % ROA (2.91) (5.72) (4.02) (2.92) (9.05) 7.24 25.75 16.61 6.11 9.92 10.16 +12.8 pt
ROIC 1.29 (0.57) 0.37 1.69 (2.37) 10.00 22.92 15.64 7.33 10.50 12.45 +9.2 pt
ROE (5.33) (12.39) (9.53) (7.61) (26.76) 23.81 76.07 48.25 20.44 35.31 36.04 +40.6 pt
People
People Employees 299 304 290 286 287 296 300 310 316 320 — +0.8%
Revenue/emp, $m 1.19 1.09 1.21 1.41 1.22 1.80 2.79 2.20 1.66 1.89 — +5.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

CVR Partners, LP 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 15.5× 15.1× +0.95% (above 0%: growing) −37.06% (below 0%: shrinking) −5.72% (below 0%: shrinking) 30.67% 10.90% Compare
CF CF Industries Holdings, Inc. $17.9B 8.1× 8.0× +12.12% (above 0%: growing) +57.04% (above 0%: growing) +23.85% (above 0%: growing) 38.71% 37.69% Compare
CTVA Corteva, Inc. $8.0B 7.9× 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 19.6× 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 36.4× 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 10.9× — −10.64% (below 0%: shrinking) n/m +5.14% (above 0%: growing) 21.70% (2.49%)
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 17.8× — (loss-making) +0.45% (above 0%: growing) −54.76% (below 0%: shrinking) −85.77% (below 0%: shrinking) 19.68% 0.41% Compare
Median of peers $6.6B 16.7× 15.1× −0.37% −9.90% +24.16% 25.18% 5.66%

All 15 Agricultural Inputs stocks →

Pay and ownership Proxy statement filed 22 April 2025

Ownership

Directors and executive officers, together less than 1%
Carl C. Icahn 39.30%
Barclays Plc 5.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

CVR Partners, LP (UAN) Latest News

7 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · MarketBeat transcript

3 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · Business Wire

16 Oct

Impact 3 · · Investing.com

1 Aug

Impact 3 · · MarketBeat transcript

31 Jul

Impact 3 · · MarketBeat transcript

30 Jul

Impact 4 · transcript
Impact 3 · · Moby transcript

29 Jul

Impact 3 ·

14 May

Impact 4 · · Insider Monkey

13 May

Impact 3 · · Insider Monkey

5 May

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

2 May

Impact 3 · · MarketBeat

30 Apr

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

29 Apr

Impact 4 · · Business Wire

17 Mar

Impact 4 · · Simply Wall St.

23 Feb

Impact 3 · · MarketBeat

19 Feb

Impact 4 · · GuruFocus.com
Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

18 Feb

Impact 4 · · Business Wire
Impact 4 · · Business Wire

26 Jan

Impact 4 · · Business Wire

25 Jan

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
stockrow.com/UAN · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com