CVR ENERGY INC CVI
CVR Energy, Inc. is a diversified holding company, formed in September 2006, primarily engaged in the petroleum refining and marketing industry, the renewable fuels industry, and the nitrogen fertilizer manufacturing industry through its interest in CVR Partners, LP, a publicly traded limited partnership ("CVR Partners"). As used in this Annual Report on Form 10-K, the terms "CVR Energy", the "Company", "we", "us", or "our" generally include the Company's subsidiaries, including CVR Partners and its subsidiaries, as consolidated subsidiaries of the Company, unless otherwise noted or implied.
•Petroleum Segment includes the refining and marketing of high value transportation fuels which consist of gasoline, diesel, jet fuel, and distillates. The Petroleum Segment also includes activities related to crude gathering and logistics that support the refinery operations.
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 | $7.16B | $7.61B | $9.25B | $10.90B | $7.24B | $3.93B | $6.36B | $7.12B | $5.99B | $4.78B |
| Cost of revenue | $6.82B | $7.41B | $7.97B | $9.77B | $7.02B | $4.12B | $5.66B | $6.46B | $5.72B | $4.59B |
| Gross profit | $346.0M | $205.0M | $1.27B | $1.13B | $218.0M | -$189.0M | $702.0M | $661.0M | $272.0M | $192.0M |
| SG&A | $148.0M | $139.0M | $141.0M | $149.0M | $119.0M | $86.0M | $117.0M | $112.0M | $113.0M | $110.0M |
| Operating income | $182.0M | $58.0M | $1.12B | $963.0M | $87.0M | -$333.0M | $580.0M | $532.0M | $145.0M | $72.0M |
| Interest expense | $139.0M | $115.0M | $90.0M | $93.0M | $117.0M | $130.0M | $102.0M | $102.0M | $109.0M | $83.0M |
| Pre-tax income | $80.0M | $19.0M | $1.08B | $801.0M | $66.0M | -$415.0M | $491.0M | $445.0M | $38.0M | -$9.0M |
| Income tax | $10.0M | $26.0M | $207.0M | $157.0M | $8.0M | $95.0M | $129.0M | $79.0M | $220.0M | $19.0M |
| Net income | $90.0M | $45.0M | $878.0M | $644.0M | $74.0M | -$256.0M | $380.0M | $259.0M | $263.0M | $25.0M |
| EPS, basic | 0.27 | 0.06 | 7.65 | 4.60 | 0.25 | -2.54 | 3.78 | — | — | 0.28 |
| EPS, diluted | 0.27 | 0.06 | 7.65 | 4.60 | 0.25 | -2.54 | 3.78 | 2.80 | 3.03 | 0.29 |
| Shares, diluted (wtd. avg.) | $100.5M | $100.5M | $100.5M | $100.5M | $100.5M | $100.5M | $100.5M | $0 | $0 | $0 |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $511.0M | $987.0M | $581.0M | $510.0M | $517.0M | $674.0M | $652.0M | $668.0M | $482.0M | $736.0M |
| Receivables | $235.0M | $295.0M | $286.0M | $358.0M | $299.0M | $178.0M | $182.0M | $169.0M | $179.0M | $151.9M |
| Inventory | $472.0M | $502.0M | $604.0M | $624.0M | $484.0M | $298.0M | $373.0M | $380.0M | $369.0M | $349.2M |
| Total current assets | $1.27B | $1.82B | $2.18B | $1.59B | $1.37B | $1.40B | $1.27B | $1.29B | $1.08B | $1.32B |
| Property, plant and equipment | — | — | — | — | — | — | — | $2.43B | $2.59B | $2.67B |
| Goodwill | — | — | — | $0 | $0 | $0 | — | — | $41.0M | $41.0M |
| Other intangibles | — | — | — | — | — | — | — | — | $200.0K | $200.0K |
| Total assets | $3.71B | $4.26B | $4.71B | $4.12B | $3.91B | $3.98B | $3.90B | $4.00B | $3.81B | $4.05B |
| Accounts payable | $415.0M | $538.0M | $530.0M | $497.0M | $409.0M | $282.0M | $412.0M | $320.0M | $334.0M | $251.0M |
| Short-term debt | — | — | — | — | — | — | — | — | — | $0 |
| Total current liabilities | $706.0M | $1.10B | $1.68B | $1.44B | $1.16B | $659.0M | $596.0M | $496.0M | $544.0M | $565.9M |
| Long-term debt | $1.70B | $1.90B | $2.10B | $1.50B | — | — | — | — | — | — |
| Retained earnings | -$777.0M | -$804.0M | -$660.0M | -$976.0M | -$956.0M | -$490.0M | -$113.0M | -$187.0M | -$277.0M | -$338.1M |
| Total equity | $730.0M | $703.0M | $1.04B | $791.0M | $770.0M | $1.22B | $1.67B | $1.94B | $1.82B | $1.79B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $144.0M | $404.0M | $948.0M | $967.0M | $396.0M | $90.0M | $747.0M | $628.0M | $248.0M | $337.0M |
| Depreciation and amortisation | $403.0M | $298.0M | $298.0M | $288.0M | $279.0M | $278.0M | $287.0M | $274.0M | $258.0M | $229.0M |
| Stock-based compensation | $42.0M | $15.0M | $34.0M | $71.0M | $46.0M | $4.0M | $17.0M | $16.0M | $19.0M | $9.0M |
| Capital expenditure | $185.0M | $179.0M | $205.0M | $191.0M | $224.0M | $124.0M | $121.0M | $102.0M | $120.0M | $133.0M |
| Investing cash flow | -$362.0M | -$121.0M | -$239.0M | -$271.0M | -$238.0M | -$423.0M | -$121.0M | -$108.0M | -$276.0M | -$271.0M |
| Financing cash flow | -$258.0M | -$482.0M | -$40.0M | -$696.0M | -$315.0M | $355.0M | -$642.0M | -$334.0M | -$226.0M | -$95.0M |
| Dividends paid | $0 | $151.0M | $453.0M | $483.0M | $241.0M | $121.0M | $306.0M | $238.0M | $174.0M | $174.0M |
| Buybacks | — | $0 | $0 | $12.0M | $1.0M | $7.0M | $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 0001376139-26-000022.
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