Intrepid Potash, Inc. IPI
We are a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed and the oil and gas industry. We are the only U.S. producer of muriate of potash (sometimes referred to as potassium chloride or potash), which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, we produce a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfur, in a single particle. We also provide water, magnesium chloride, brine, and various oilfield products and services.
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 | $298.3M | $254.7M | $279.1M | — | — | — | — | — | — | — |
| Gross profit | $54.8M | $29.1M | $36.8M | $141.4M | $55.8M | $10.5M | $43.5M | $38.3M | $11.9M | -$26.8M |
| SG&A | $36.7M | $33.0M | $32.4M | $31.8M | $24.0M | $25.5M | $23.6M | $20.4M | $18.9M | $20.0M |
| Operating income | $10.7M | -$19.9M | -$44.0M | $95.4M | $32.3M | -$23.2M | $16.4M | $15.5M | -$14.1M | -$55.3M |
| Interest expense | $232.0K | $112.0K | $0 | $101.0K | $1.5M | $4.3M | $3.0M | $3.9M | $11.7M | $11.6M |
| Pre-tax income | $11.7M | -$18.5M | -$44.1M | $96.5M | $41.0M | -$27.1M | $13.7M | $11.9M | -$25.4M | -$65.5M |
| Income tax | $544.0K | $194.3M | $8.4M | $24.3M | $208.9M | $5.0K | $53.0K | $108.0K | $2.8M | $1.4M |
| Net income | $11.2M | -$212.8M | -$35.7M | $72.2M | $249.8M | — | — | — | — | — |
| EPS, basic | 0.86 | -16.53 | -2.80 | 5.49 | 19.07 | -2.09 | 1.06 | 0.92 | -0.20 | -0.85 |
| EPS, diluted | 0.85 | -16.53 | -2.80 | 5.37 | 18.66 | -2.09 | 1.04 | 0.90 | -0.20 | -0.85 |
| Shares, diluted (wtd. avg.) | $13.2M | $12.9M | $12.8M | $13.5M | $13.4M | $13.0M | $13.1M | $13.1M | $115.7M | $75.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $83.5M | $41.3M | $4.1M | $19.1M | $37.1M | $20.2M | $21.2M | $33.7M | $1.5M | $8.5M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $33.8M | $22.5M | $22.1M | $26.7M | $35.4M | $22.5M | $23.7M | $25.2M | $17.8M | $10.3M |
| Inventory | $112.3M | $113.0M | $114.3M | $114.8M | $78.9M | $88.7M | $94.2M | $82.0M | $83.1M | $94.4M |
| Total current assets | $235.1M | $183.8M | $152.0M | $171.7M | $156.8M | $135.8M | $145.3M | $145.4M | $111.5M | $123.7M |
| Property, plant and equipment | $334.8M | $344.3M | $358.2M | $375.6M | $341.1M | $355.5M | $378.5M | $346.2M | $364.5M | $388.5M |
| Total assets | $632.2M | $594.5M | $768.6M | $794.2M | $766.9M | $550.2M | $578.4M | $525.2M | $510.6M | $540.9M |
| Short-term debt | — | — | — | — | $0 | $10.0M | $20.0M | $0 | $10.0M | — |
| Total current liabilities | $53.7M | $38.0M | $46.6M | $48.9M | $73.4M | $67.2M | $87.4M | $34.8M | $37.5M | $24.1M |
| Long-term debt | — | — | — | — | — | — | $29.8M | $49.6M | $49.4M | $133.4M |
| Total liabilities | $140.8M | $120.1M | $84.1M | $79.1M | $103.5M | $138.9M | $143.8M | $108.0M | $108.5M | $177.5M |
| Retained earnings | -$160.9M | -$172.1M | $40.8M | $76.5M | $4.2M | -$245.6M | -$218.4M | -$232.1M | -$243.9M | -$220.4M |
| Total equity | $491.4M | $474.4M | $684.4M | $715.1M | $663.4M | $411.3M | $434.7M | $417.3M | $402.1M | $362.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $55.8M | $72.5M | $43.2M | $88.8M | $79.1M | $31.1M | $49.4M | $64.2M | $16.7M | -$14.7M |
| Depreciation and amortisation | $40.6M | $37.7M | $39.4M | $35.0M | $36.0M | $36.1M | $34.3M | $32.2M | $33.2M | $40.9M |
| Stock-based compensation | $5.1M | $3.6M | $6.5M | $6.2M | $3.0M | $3.8M | $4.3M | $4.2M | $3.6M | $3.6M |
| Capital expenditure | $30.2M | $38.7M | $65.1M | $68.7M | $19.8M | $16.4M | $63.8M | $16.9M | $13.5M | $17.9M |
| Investing cash flow | -$13.3M | -$29.5M | -$59.6M | -$79.2M | -$14.8M | -$15.2M | -$80.6M | -$16.8M | -$7.9M | $32.5M |
| Financing cash flow | -$276.0K | -$5.7M | $1.9M | -$27.7M | -$47.3M | -$17.0M | $18.8M | -$15.3M | -$15.8M | -$19.1M |
| Buybacks | — | $0 | $0 | $22.0M | $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 0001140361-26-015363.
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