ICAHN ENTERPRISES L.P. IEP

Energy SIC 2911 - Petroleum Refining NAICS Manufacturing › Petroleum and Coal Products Manufacturing › Petroleum Refineries derived Nasdaq

Icahn Enterprises L.P. ("Icahn Enterprises") is a master limited partnership formed in Delaware on February 17, 1987 and headquartered in Sunny Isles Beach, Florida. We are a diversified holding company owning subsidiaries currently engaged in the following continuing operating businesses: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma. References to "we," "our" or "us" herein include Icahn Enterprises and its subsidiaries, unless the context otherwise requires.

Icahn Enterprises owns a 99% limited partner interest in Icahn Enterprises Holdings L.P. ("Icahn Enterprises Holdings"). Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc. ("Icahn Enterprises GP"), which is indirectly owned and controlled by Mr. Carl C. Icahn, owns a 1% general partner interest in each of Icahn Enterprises and Icahn Enterprises Holdings as of December 31, 2025, representing an aggregate 1.99% general partner interest in Icahn Enterprises Holdings and us. Mr. Icahn and his affiliates owned approximately 86% of our outstanding depositary units as of December 31, 2025.

Last close 5.76 2026-10-23
Market cap —
52-week range 5.68 - 9.32

No market cap here: IEP is a depositary receipt for shares held in this company's home market, and the number of shares one receipt stands for could not be read from its latest 10-K cover page. Without it, the share count SEC publishes and the price quoted here count different things, and multiplying them would not be this company's value. The financial statements below are as filed.

Valuation FY2025 figures against the last close

P/S0.4x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $9.66B$10.02B$10.93B$14.20B$11.34B$6.12B$8.99B$11.78B$12.62B$7.38B
Cost of revenue ————————$15.01B$13.41B
Gross profit ————————-$2.39B-$6.03B
SG&A $837.0M$783.0M$852.0M$1.25B$1.24B$1.19B$1.38B$1.39B$1.27B$1.00B
Total operating expenses $10.00B$10.59B$11.86B$14.19B$11.92B$8.71B$10.73B$11.55B$10.75B$9.75B
Interest expense $504.0M$523.0M$554.0M$568.0M$666.0M$688.0M$605.0M$524.0M$655.0M$692.0M
Pre-tax income -$345.0M-$567.0M-$922.0M$9.0M-$578.0M-$2.58B-$1.74B$223.0M$1.87B-$2.37B
Income tax $19.0M$25.0M$90.0M$34.0M$78.0M$116.0M$20.0M$14.0M$532.0M$88.0M
Net income -$299.0M-$445.0M-$684.0M-$183.0M-$518.0M-$1.65B-$1.10B$1.48B$2.45B-$1.13B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.45B$2.60B$5.95B$4.89B$4.44B$3.29B$4.95B$5.34B$1.91B$1.88B
Inventory $845.0M$897.0M$1.05B$1.53B$1.48B$1.58B$1.79B$1.78B$1.73B$2.98B
Property, plant and equipment $3.67B$3.84B$3.97B$4.04B$4.08B$4.23B$4.45B$4.69B$5.19B$10.12B
Goodwill $290.0M$288.0M$288.0M$288.0M$290.0M$294.0M$282.0M$247.0M$327.0M$1.14B
Other intangibles $349.0M$409.0M$466.0M$533.0M$595.0M$660.0M$431.0M$501.0M$544.0M$1.12B
Total assets $14.21B$16.28B$20.86B$27.91B$27.75B$24.99B$24.64B$23.49B$31.80B$33.37B
Total liabilities $10.79B$11.66B$14.79B$18.36B$18.40B$15.73B$13.70B$10.51B$20.43B$25.35B
Total equity ———————$6.53B$5.11B$8.02B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$313.0M$832.0M$3.74B$1.05B$321.0M-$416.0M-$1.46B$923.0M-$1.35B$1.22B
Depreciation and amortisation $603.0M$511.0M$518.0M$509.0M$517.0M$510.0M$519.0M$508.0M$518.0M$526.0M
Capital expenditure $341.0M$280.0M$303.0M$338.0M$305.0M$199.0M$250.0M$272.0M$316.0M$247.0M
Investing cash flow -$402.0M-$215.0M-$290.0M-$260.0M$528.0M-$581.0M$586.0M$2.59B$682.0M-$1.84B
Financing cash flow -$1.10B-$1.32B-$2.38B-$344.0M$293.0M-$653.0M$566.0M-$157.0M$369.0M$58.0M
Dividends paid —————$526.0M$112.0M$97.0M$81.0M$103.0M

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 0001104659-26-019821.

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. -10B 0 10B 20B Revenue, FY2016: 7.4B Gross profit, FY2016: -6B Net income, FY2016: -1.1B Revenue, FY2017: 12.6B Gross profit, FY2017: -2.4B Net income, FY2017: 2.5B Revenue, FY2018: 11.8B Net income, FY2018: 1.5B Revenue, FY2019: 9B Net income, FY2019: -1.1B Revenue, FY2020: 6.1B Net income, FY2020: -1.7B Revenue, FY2021: 11.3B Net income, FY2021: -518M Revenue, FY2022: 14.2B Net income, FY2022: -183M Revenue, FY2023: 10.9B Net income, FY2023: -684M Revenue, FY2024: 10B Net income, FY2024: -445M Revenue, FY2025: 9.7B Net income, FY2025: -299M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $7.38B $12.62B $11.78B $8.99B $6.12B $11.34B $14.20B $10.93B $10.02B $9.66B
Gross profit -$6.03B -$2.39B — — — — — — — —
Net income -$1.13B $2.45B $1.48B -$1.10B -$1.65B -$518.0M -$183.0M -$684.0M -$445.0M -$299.0M

Recent filings and events

  • 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
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • 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
  • Other event Item 8.01

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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