Saturday 17 October 2026
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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. In the quarter to June 2026, revenue grew 20.0%, EPS grew 99.7%, free cash flow grew 177.3% and total debt was flat, each against the same quarter a year earlier.
126.36
5.86
−4.43%
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Target Price Range
Analyst price targets
Free accountTen 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 | 40.50 | 25.80 | 27.10 | 26.50 | 5.70 | 14.70 | 80.30 | 60.50 | 61.62 | 63.45 |
Analyst estimates 2026–2028 Powerpack |
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| High | 97.50 | 69.50 | 43.50 | 43.50 | 31.50 | 87.34 | 179.74 | 118.38 | 88.94 | 104.20 | |||||
| People | |||||||||||||||
| People | Employees | 299 | 304 | 290 | 286 | 287 | 296 | 300 | 310 | 316 | 320 | ||||
| Revenue/emp, $m | 1.19 | 1.09 | 1.21 | 1.41 | 1.22 | 1.80 | 2.79 | 2.20 | 1.66 | 1.89 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 356 | 331 | 351 | 404 | 350 | 533 | 836 | 681 | 525 | 606 | ||||
| Gross margin, % | 31.52 | 27.08 | 29.42 | 33.76 | 28.84 | 44.22 | 52.00 | 45.81 | 39.40 | 40.47 | |||||
| EBT | (27) | (73) | (50) | (35) | (98) | 78 | 287 | 173 | 61 | 99 | |||||
| EBT margin, % | (7.47) | (21.94) | (14.26) | (8.66) | (28.05) | 14.69 | 34.34 | 25.35 | 11.61 | 16.28 | |||||
| Net income | (27) | (73) | (50) | (35) | (98) | 78 | 287 | 172 | 61 | 99 | |||||
| Depreciation | 61 | 77 | 75 | 84 | 121 | 76 | 83 | 80 | 89 | 83 | |||||
| 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 | ||||
| Earnings | (2.60) | (6.40) | (4.40) | (3.10) | (8.77) | 7.31 | 27.07 | 16.31 | 5.76 | 9.33 | |||||
| Cash flow | 4.35 | 0.92 | 2.85 | 3.46 | 1.76 | 17.66 | 28.46 | 23.04 | 14.24 | 14.16 | |||||
| Capex | (2.25) | (1.28) | (1.73) | (1.64) | (1.66) | (1.90) | (4.21) | (2.29) | (3.51) | (4.80) | |||||
| Free cash flow | 2.10 | (0.37) | 1.11 | 1.82 | 0.11 | 15.76 | 24.25 | 20.75 | 10.74 | 9.36 | |||||
| Book value | 60.50 | 48.54 | 44.12 | 37.04 | 28.07 | 32.03 | 38.88 | 28.65 | 27.73 | 25.14 | |||||
| Shares, m | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 11.28 | 3.79 | 4.16 | 13.19 | 10.97 | ||||
| P/S | 1.84 | 1.21 | 1.10 | 0.87 | 0.51 | 1.66 | 1.30 | 1.05 | 1.53 | 1.79 | |||||
| P/B | 1.05 | 0.73 | 0.77 | 0.84 | 0.57 | 2.58 | 2.64 | 2.37 | 2.74 | 4.08 | |||||
| EV/Sales | 3.78 | 3.33 | 3.07 | 2.65 | 2.24 | 2.60 | 1.85 | 1.79 | 2.44 | 2.62 | |||||
| EV/FCF | 61.94 | (265.34) | 85.48 | 51.95 | 659.64 | 8.22 | 6.03 | 5.57 | 11.30 | 16.03 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 45 | 10 | 32 | 39 | 20 | 189 | 301 | 244 | 151 | 150 | ||||
| Capex | (23) | (15) | (20) | (19) | (19) | (20) | (45) | (24) | (37) | (51) | |||||
| Free cash flow | 22 | (4) | 13 | 21 | 1 | 168 | 257 | 219 | 113 | 99 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 72 | 62 | 71 | 49 | 42 | 100 | 140 | 90 | 122 | 117 | ||||
| Total debt | 623 | 626 | 629 | 632 | 636 | 611 | 547 | 547 | 568 | 569 | |||||
| Net debt | 568 | 577 | 567 | 595 | 606 | 498 | 460 | 502 | 477 | 500 | |||||
| Shareholders’ equity | 625 | 550 | 500 | 420 | 314 | 342 | 412 | 303 | 293 | 266 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (2.91) | (5.72) | (4.02) | (2.92) | (9.05) | 7.24 | 25.75 | 16.61 | 6.11 | 9.92 | ||||
| ROIC | 1.29 | (0.57) | 0.37 | 1.69 | (2.37) | 10.00 | 22.92 | 15.64 | 7.33 | 10.50 | |||||
| ROE | (5.33) | (12.39) | (9.53) | (7.61) | (26.76) | 23.81 | 76.07 | 48.25 | 20.44 | 35.31 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
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. | $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% | Compare |
| 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% | |
| 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 | $6.2B | 15.3× | 15.5× | −0.05% | +28.97% | −16.17% | 31.16% | 13.47% |
CVR Partners, LP (UAN) key facts
- Strength: CVR Partners, LP’s revenue for fiscal 2025 (year ended December 2025) was $606.0 million, up 15.4% from fiscal 2024.
- Strength: Net income was $98.7 million, or $9.33 per share (basic), a net margin of 16.3%.
- CVR Partners, LP (UAN) is an Agricultural Inputs company in the Basic Materials sector, listed on the New York Stock Exchange.
- As of October 16, 2026, UAN traded at $126.36, a market capitalization of $1.4 billion.
- At that price the stock trades at 8.3× trailing-twelve-month earnings and 2.0× sales; its P/E is higher than 43% of its own readings over the past ten years.
- CVR Partners, LP pays an annual dividend of $14.47 per share, a yield of 11.5%, with a payout ratio of 95.5%.
- Return on equity was 35.3% and debt-to-equity 1.64.
- Its Piotroski F-score is 8 out of 9 for fiscal 2025.