CF Industries Holdings, Inc. CF

Healthcare SIC 2870 - Agricultural Chemicals NAICS Manufacturing › Chemical Manufacturing › Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing › Fertilizer and Compost Manufacturing derived NYSE

Our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world's largest – to enable low-carbon hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our value chain consists of manufacturing complexes in the United States, Canada and the United Kingdom, an extensive storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach. In July 2025, we completed a significant decarbonization project at our Donaldsonville, Louisiana, complex to enable the production of low-carbon ammonia. Additionally, we are executing further decarbonization projects in our existing network and constructing a greenfield low-carbon ammonia plant at our Blue Point complex to drive our strategy to leverage our unique capabilities to accelerate the world's transition to clean energy.

Last close 120.68 2026-10-23
Market cap $18.26B 2026-06-30 share count
52-week range 75.42 - 141.96

Valuation FY2025 figures against the last close

P/S2.6x
P/E13.5x
P/FCF10.1x
EV/EBITDA6.1x
Dividend yield1.8%
Diluted EPS8.97

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other foreign
  • Canada
  • United Kingdom
  • Other
Revenue by geography, 5 categories over 1 years. The same figures are in the table below. FY2025 United States, FY2025: 5.3B (75.4%) 75% United States Other foreign, FY2025: 712M (10.1%) 10% Other foreign Canada, FY2025: 598M (8.4%) 8% Canada United Kingdom, FY2025: 378M (5.3%) 5% Other, FY2025: 58M (0.8%)
Region FY2025
United States $5.34B
Other foreign $712.0M
Canada $598.0M
United Kingdom $378.0M
Other $58.0M

As the company reported it, from the “Segment Disclosures (Details 2)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Ammonia
  • UAN
  • Urea
  • Other
  • AN
Revenue by segment, 5 categories over 3 years. The same figures are in the table below. FY2025 Ammonia, FY2025: 2.2B (30.7%) 31% Ammonia UAN, FY2025: 2.2B (30.5%) 31% UAN Urea, FY2025: 1.8B (25.1%) 25% Urea Other, FY2025: 545M (7.7%) 8% Other AN, FY2025: 421M (5.9%) 6% AN FY2024 Ammonia, FY2024: 1.7B (29.2%) 29% UAN, FY2024: 1.7B (28.3%) 28% Urea, FY2024: 1.6B (27.0%) 27% Other, FY2024: 503M (8.5%) 8% AN, FY2024: 419M (7.1%) 7% FY2023 Ammonia, FY2023: 1.7B (25.3%) 25% UAN, FY2023: 2.1B (31.2%) 31% Urea, FY2023: 1.8B (27.5%) 27% Other, FY2023: 564M (8.5%) 9% AN, FY2023: 497M (7.5%) 7%
Segment FY2025FY2024FY2023
Ammonia $2.18B $1.74B $1.68B
UAN $2.16B $1.68B $2.07B
Urea $1.78B $1.60B $1.82B
Other $545.0M $503.0M $564.0M
AN $421.0M $419.0M $497.0M

As the company reported it, from the “Revenue Recognition - Revenue by Product and by Geography (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $7.08B$5.94B$6.63B$11.19B$6.54B$4.12B$4.59B$4.43B$4.13B$3.69B
Cost of revenue $4.36B$3.88B$4.09B$5.33B$4.15B$3.32B$3.42B$3.51B$3.70B$2.84B
Gross profit $2.72B$2.06B$2.54B$5.86B$2.39B$801.0M$1.17B$917.0M$434.0M$843.0M
SG&A $364.0M$320.0M$289.0M$290.0M$223.0M$206.0M$239.0M$214.0M$191.0M$173.0M
Operating income $2.30B$1.75B$2.23B$5.40B$1.73B$623.0M$1.00B$766.0M$234.0M$138.0M
Interest expense $155.0M$121.0M$150.0M$344.0M$184.0M$179.0M$237.0M$241.0M$315.0M$200.0M
Pre-tax income $2.24B$1.76B$2.25B$5.09B$1.54B$463.0M$772.0M$547.0M-$125.0M-$226.0M
Income tax $441.0M$285.0M$410.0M$1.16B$283.0M$31.0M$126.0M$119.0M$575.0M$68.0M
Net income $1.80B$1.48B$1.84B$3.94B$1.26B$432.0M$646.0M$428.0M$450.0M-$158.0M
EPS, basic 8.986.757.8916.454.271.482.241.251.53-1.19
EPS, diluted 8.976.747.8716.384.241.472.231.241.53-1.19
Shares, diluted (wtd. avg.) 162.2M180.7M193.8M204.2M216.2M215.2M221.6M233.8M233.9M233.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.98B$1.61B$2.03B$2.32B$1.63B$683.0M$287.0M$682.0M$835.0M$1.17B
Receivables $488.0M$404.0M$505.0M$582.0M$497.0M$265.0M$242.0M$235.0M——
Inventory $383.0M$314.0M$299.0M$474.0M$408.0M$287.0M$351.0M$309.0M——
Total current assets $2.98B$2.52B$3.05B$3.67B$2.59B$1.37B$974.0M$1.27B——
Property, plant and equipment $6.71B$6.74B$7.14B$6.44B$7.08B$7.63B$8.17B$8.62B$9.18B—
Goodwill $2.49B$2.49B$2.50B$2.09B$2.09B$2.37B$2.37B$2.35B——
Other intangibles $473.0M$507.0M$538.0M$15.0M$45.0M$104.0M$110.0M$115.0M——
Total assets $14.09B$13.47B$14.38B$13.31B$12.38B$12.02B$12.17B$12.66B——
Accounts payable $148.0M$125.0M$114.0M$63.0M$110.0M$85.0M$78.0M$101.0M——
Short-term debt ————$0$249.0M$0———
Total current liabilities $887.0M$818.0M$800.0M$995.0M$1.43B$906.0M$665.0M$705.0M——
Long-term debt $3.21B$2.97B$2.97B$2.96B$3.46B$3.71B$3.96B$4.70B——
Retained earnings $3.87B$4.01B$4.54B$3.87B$2.09B$1.93B$1.96B$2.46B——
Total equity $4.84B$4.99B$8.37B$7.85B$6.04B$5.60B$5.64B$5.73B$6.68B$6.49B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.75B$2.27B$2.76B$3.85B$2.87B$1.23B$1.50B$1.50B$1.63B$617.0M
Depreciation and amortisation $898.0M$925.0M$869.0M$850.0M$888.0M$892.0M$875.0M$888.0M$883.0M$678.0M
Stock-based compensation $45.0M$36.0M$37.0M$41.0M$30.0M$25.0M$28.0M$22.0M$17.0M$19.0M
Capital expenditure $950.0M$518.0M$499.0M$453.0M$514.0M$309.0M$404.0M$422.0M$473.0M$2.21B
Investing cash flow -$933.0M-$469.0M-$1.68B-$440.0M-$466.0M-$299.0M-$319.0M-$375.0M-$413.0M-$2.19B
Financing cash flow -$1.48B-$2.21B-$1.37B-$2.70B-$1.46B-$542.0M-$1.58B-$1.27B-$1.56B$2.44B
Dividends paid $326.0M$364.0M$311.0M$306.0M$260.0M$258.0M$265.0M$280.0M$280.0M$280.0M
Buybacks $1.36B$1.51B$580.0M$1.35B$539.0M$100.0M$370.0M$467.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001324404-26-000007.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 3.7B Gross profit, FY2016: 843M Net income, FY2016: -158M Revenue, FY2017: 4.1B Gross profit, FY2017: 434M Net income, FY2017: 450M Revenue, FY2018: 4.4B Gross profit, FY2018: 917M Net income, FY2018: 428M Revenue, FY2019: 4.6B Gross profit, FY2019: 1.2B Net income, FY2019: 646M Revenue, FY2020: 4.1B Gross profit, FY2020: 801M Net income, FY2020: 432M Revenue, FY2021: 6.5B Gross profit, FY2021: 2.4B Net income, FY2021: 1.3B Revenue, FY2022: 11.2B Gross profit, FY2022: 5.9B Net income, FY2022: 3.9B Revenue, FY2023: 6.6B Gross profit, FY2023: 2.5B Net income, FY2023: 1.8B Revenue, FY2024: 5.9B Gross profit, FY2024: 2.1B Net income, FY2024: 1.5B Revenue, FY2025: 7.1B Gross profit, FY2025: 2.7B Net income, FY2025: 1.8B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $3.69B $4.13B $4.43B $4.59B $4.12B $6.54B $11.19B $6.63B $5.94B $7.08B
Gross profit $843.0M $434.0M $917.0M $1.17B $801.0M $2.39B $5.86B $2.54B $2.06B $2.72B
Net income -$158.0M $450.0M $428.0M $646.0M $432.0M $1.26B $3.94B $1.84B $1.48B $1.80B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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