CVR PARTNERS, LP UAN
CVR Partners, LP ("CVR Partners" or the "Partnership") is a Delaware limited partnership formed in 2011 by CVR Energy, Inc. (together with its subsidiaries, but excluding the Partnership and its subsidiaries, "CVR Energy") to own, operate and grow its nitrogen fertilizer business. The Partnership produces and distributes nitrogen fertilizer products, which are used by farmers to improve the yield and quality of their crops, primarily corn and wheat. The Partnership produces these products at two manufacturing facilities, one located in Coffeyville, Kansas operated by its wholly owned subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC ("CRNF") (the "Coffeyville Facility") and one located in East Dubuque, Illinois operated by its wholly owned subsidiary, East Dubuque Nitrogen Fertilizers, LLC ("EDNF") (the "East Dubuque Facility", and together with the Coffeyville Facility, the "Facilities"). The Facilities manufacture ammonia and are able to further upgrade such ammonia to other nitrogen fertilizer products, principally urea ammonium nitrate ("UAN"). The Partnership's products are sold on a wholesale basis in the United States of America. References to CVR Partners, the Partnership, "we", "us", and "our" may refer to consolidated subsidiaries of CVR Partners or one or both of the Facilities, as the context may require. Additionally, as the context may require, references to CVR Energy may refer to CVR Energy and its consolidated subsidiaries which include its petroleum and renewables refining, marketing, and logistics 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 | $606.0M | $525.3M | $681.5M | $835.6M | $532.6M | $350.0M | $404.2M | $351.1M | $330.8M | $356.3M |
| Cost of revenue | $442.7M | $406.5M | $449.0M | $483.2M | $370.5M | $325.1M | $347.6M | $319.4M | $315.2M | $302.2M |
| Gross profit | $163.4M | $118.9M | $232.5M | $352.4M | $162.0M | $24.8M | $56.6M | $31.7M | $15.6M | $54.1M |
| SG&A | $33.6M | $28.4M | $29.5M | $32.2M | $26.6M | $18.2M | $25.8M | $25.0M | $25.6M | $29.3M |
| Operating income | $128.7M | $90.4M | $201.4M | $319.9M | $134.5M | -$34.9M | $27.4M | $6.3M | -$10.3M | $24.6M |
| Interest expense | — | — | $28.7M | $34.1M | $61.0M | $63.4M | $62.6M | $62.6M | $62.8M | $48.6M |
| Pre-tax income | $98.6M | $61.0M | $172.7M | $287.0M | $78.2M | -$98.2M | -$35.0M | -$50.1M | -$72.6M | -$26.6M |
| Income tax | $23.0K | $77.0K | $289.0K | $160.0K | $57.0K | $30.0K | $18.0K | $46.0K | $220.0K | $329.0K |
| Net income | $98.7M | $60.9M | $172.4M | $286.8M | $78.2M | -$98.2M | -$35.0M | -$50.0M | -$72.8M | -$26.9M |
| EPS, basic | 9.33 | 5.76 | 16.31 | 27.07 | 7.31 | -8.77 | -3.09 | — | -0.64 | -0.26 |
| EPS, diluted | 9.33 | 5.76 | 16.31 | 27.07 | 7.31 | -8.77 | -3.09 | -4.42 | -0.64 | -0.26 |
| Shares, diluted (wtd. avg.) | $10.6M | $10.6M | $10.6M | $10.6M | $10.7M | $11.2M | $11.3M | — | $113.3M | $103.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $69.2M | $90.9M | $45.3M | $86.3M | $112.5M | $30.6M | $37.0M | $61.8M | $49.2M | $55.6M |
| Receivables | $59.0M | $65.2M | $41.9M | $90.4M | $88.4M | $36.9M | $34.3M | $61.7M | $9.9M | $13.9M |
| Inventory | $82.7M | $75.6M | $69.2M | $77.5M | $52.3M | $42.3M | $48.3M | $63.6M | $53.2M | $58.2M |
| Total current assets | $213.9M | $233.5M | $165.9M | $265.7M | $262.2M | $118.2M | $125.0M | $194.0M | $118.0M | $134.5M |
| Property, plant and equipment | — | — | $761.0M | $811.0M | $850.5M | $897.8M | $952.0M | $1.02B | $1.07B | $1.13B |
| Goodwill | — | — | — | $0 | $0 | $0 | $41.0M | $41.0M | $41.0M | $41.0M |
| Total assets | $969.5M | $1.02B | $975.3M | $1.10B | $1.13B | $1.03B | $1.14B | $1.25B | $1.23B | $1.31B |
| Accounts payable | — | — | — | $45.5M | $41.5M | $19.5M | $21.1M | $26.8M | $21.3M | $28.8M |
| Short-term debt | — | — | — | — | $0 | $2.2M | $0 | — | — | — |
| Total current liabilities | $96.8M | $111.3M | $75.5M | $126.1M | $161.9M | $76.3M | $75.5M | $122.6M | $56.1M | $63.0M |
| Long-term debt | — | — | $547.3M | $546.8M | $610.6M | $633.9M | $632.4M | $629.0M | $625.9M | $623.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $149.6M | $150.5M | $243.5M | $301.5M | $188.7M | $19.7M | $39.2M | $32.2M | $10.4M | $45.0M |
| Depreciation and amortisation | $81.9M | $88.1M | $79.7M | $82.1M | $73.5M | $76.1M | $79.8M | $71.6M | $74.0M | $58.2M |
| Stock-based compensation | $9.8M | $4.9M | $8.2M | $25.3M | $23.1M | $1.0M | $3.4M | $3.0M | $3.0M | $2.8M |
| Capital expenditure | $50.8M | $37.1M | $24.2M | $44.7M | $20.6M | $18.6M | $18.7M | $19.8M | $14.6M | $23.2M |
| Investing cash flow | -$44.1M | -$31.9M | -$2.7M | -$44.6M | -$20.3M | -$18.6M | -$18.5M | -$19.6M | -$14.6M | -$87.1M |
| Financing cash flow | -$127.2M | -$73.1M | -$281.9M | -$283.0M | -$86.4M | -$7.6M | -$45.4M | $0 | -$2.3M | $47.8M |
| Buybacks | — | $0 | $0 | $12.4M | $529.0K | $7.1M | $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 0001425292-26-000011.
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