CHS INC CHSCP
CHS Inc. (referred to herein as "CHS," "company," "we," "us" or "our") is the nation's leading integrated agricultural cooperative, providing grain, food, agronomy and energy resources to businesses and consumers on a global basis. As a cooperative, we are owned by farmers and ranchers and member cooperatives (referred to herein as "members") across the United States. We also have preferred shareholders who own shares of our five series of preferred stock, all of which are listed and traded on the Global Select Market of The Nasdaq Stock Market LLC ("Nasdaq"). We buy commodities from and provide products and services to individual agricultural producers, local cooperatives and other companies (including our members and other nonmember customers), both domestically and internationally. We provide a wide variety of products and services, ranging from initial agricultural inputs such as fuels, farm supplies, crop nutrients and crop protection products to agricultural outputs that include grain and oilseed, processed grain and oilseed, renewable fuels and food products. A portion of our operations are conducted through equity investments and joint ventures whose operating results are not fully consolidated with our results; rather, our share of the income or loss from those equity investments and joint ventures is included as a component of our net income using the equity method of accounting. For the year ended August 31, 2025, our total revenues were $35.5 billion and net income attributable to CHS was $597.9 million.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.46B | $39.26B | $45.59B | $47.79B | $38.45B | $28.41B | $31.90B | $32.68B | $32.04B | $30.36B |
| Cost of revenue | $34.33B | $37.51B | $43.21B | $45.66B | $37.50B | $27.42B | $30.52B | $31.59B | $31.14B | $29.39B |
| Gross profit | $1.14B | $1.75B | $2.38B | $2.13B | $951.4M | $981.8M | $1.38B | $1.09B | $893.9M | $968.7M |
| SG&A | $1.05B | $1.17B | $1.03B | $997.8M | $745.6M | $704.5M | $724.7M | $639.8M | $611.1M | $601.3M |
| Operating income | $90.8M | $584.4M | $1.34B | $1.13B | $205.8M | $277.3M | $659.6M | $452.4M | -$173.9M | $292.4M |
| Interest expense | $146.1M | $104.1M | $137.4M | $114.2M | $104.6M | $117.0M | $167.1M | $149.2M | $171.2M | $113.7M |
| Pre-tax income | $614.8M | $1.10B | $2.01B | $1.81B | $515.3M | $386.9M | $815.6M | $671.2M | -$110.2M | $402.1M |
| Income tax | $16.8M | $4.9M | $107.7M | $132.1M | $38.2M | $36.7M | $12.5M | $104.1M | $181.1M | $19.1M |
| Net income | $597.9M | $1.10B | $1.90B | $1.68B | $554.0M | $422.4M | $829.9M | $775.9M | $71.6M | $383.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $327.8M | $794.9M | $1.77B | $903.5M | $542.5M | $217.0M | $299.7M | $543.9M | $272.3M | $345.6M |
| Short-term investments | $0 | $500.9M | $0 | — | — | — | — | — | — | — |
| Inventory | $3.27B | $3.07B | $3.22B | $3.65B | $3.33B | $2.74B | $2.85B | $2.77B | $2.60B | $3.14B |
| Total current assets | $8.09B | $8.71B | $9.13B | $9.38B | $8.00B | $6.27B | $6.66B | $6.69B | $5.63B | $7.95B |
| Property, plant and equipment | $5.50B | $5.18B | $4.87B | $4.74B | $4.81B | $4.96B | $5.09B | $5.14B | $5.36B | $5.44B |
| Goodwill | $239.4M | $180.0M | $180.0M | $180.0M | $171.6M | $172.4M | $172.4M | $138.5M | $138.5M | $144.3M |
| Other intangibles | $94.4M | $42.1M | $47.0M | $53.2M | $58.4M | $65.0M | $71.2M | $29.3M | $33.3M | $44.8M |
| Total assets | $18.86B | $18.72B | $18.96B | $18.82B | $17.58B | $15.99B | $16.45B | $16.38B | $15.82B | $18.28B |
| Accounts payable | $2.72B | $2.70B | $2.93B | $3.06B | $2.62B | $1.72B | $1.93B | $1.84B | $1.99B | $2.57B |
| Total current liabilities | $5.28B | $5.40B | $5.90B | $6.95B | $6.33B | $4.92B | $5.58B | $5.93B | $5.48B | $7.65B |
| Long-term debt | $1.78B | $2.12B | $700.0M | $1.91B | $1.58B | $1.75B | $1.75B | $1.92B | $2.14B | $2.17B |
| Retained earnings | $3.02B | $2.81B | $2.54B | $2.06B | $1.71B | $1.62B | $1.58B | $1.48B | $1.27B | $1.59B |
| Total equity | $11.08B | $10.76B | $10.45B | $9.46B | $9.02B | $8.82B | $8.62B | $8.17B | $7.71B | $7.76B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $635.8M | $1.27B | $3.28B | $1.95B | $757.8M | $1.09B | $1.14B | $1.07B | $954.7M | $1.26B |
| Depreciation and amortisation | $651.4M | $569.9M | $539.5M | $462.0M | $461.7M | $477.4M | $473.2M | $478.1M | $480.2M | $447.5M |
| Capital expenditure | $728.6M | $808.8M | $564.5M | $354.4M | $317.8M | $418.4M | $443.2M | $355.4M | $444.4M | $692.8M |
| Investing cash flow | -$880.6M | -$1.43B | -$950.2M | -$457.1M | -$101.7M | -$243.7M | -$661.3M | -$79.5M | -$405.0M | -$3.75B |
| Financing cash flow | -$230.6M | -$814.3M | -$1.40B | -$1.11B | -$326.6M | -$931.1M | -$725.6M | -$732.2M | -$618.3M | $1.81B |
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 0000823277-25-000038.
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