CF Industries (CF)

NYSE Materials Fertilizers & Agricultural Chemicals S&P 500

$119.39

+0.82 (+0.69%)

Close of Nov 06, 2026 · end-of-day data

Source: CF Industries's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$3.69B	$4.13B	$4.43B	$4.59B	$4.12B	$6.54B	$11.19B	$6.63B	$5.94B	$7.08B
Cost of revenue	$2.84B	$3.70B	$3.51B	$3.42B	$3.32B	$4.15B	$5.33B	$4.09B	$3.88B	$4.36B
Gross profit	$843.00M	$434.00M	$917.00M	$1.17B	$801.00M	$2.39B	$5.86B	$2.54B	$2.06B	$2.72B
Selling, general & admin	$173.00M	$191.00M	$214.00M	$239.00M	$206.00M	$223.00M	$290.00M	$289.00M	$320.00M	$364.00M
Operating income	$138.00M	$234.00M	$766.00M	$1.00B	$623.00M	$1.73B	$5.40B	$2.23B	$1.75B	$2.30B
Interest expense	$200.00M	$315.00M	$241.00M	$237.00M	$179.00M	$184.00M	$344.00M	$150.00M	$121.00M	$155.00M
Pre-tax income	-$226.00M	-$125.00M	$547.00M	$772.00M	$463.00M	$1.54B	$5.09B	$2.25B	$1.76B	$2.24B
Income tax	-$68.00M	-$575.00M	$119.00M	$126.00M	$31.00M	$283.00M	$1.16B	$410.00M	$285.00M	$441.00M
Net income	-$277.00M	$358.00M	$290.00M	$493.00M	$317.00M	$917.00M	$3.35B	$1.52B	$1.22B	$1.46B
EBITDA	$816.00M	$1.12B	$1.65B	$1.88B	$1.51B	$2.62B	$6.25B	$3.10B	$2.67B	$3.20B
EPS (basic)	$-1.19	$1.53	$1.25	$2.24	$1.48	$4.27	$16.45	$7.89	$6.75	$8.98
EPS (diluted)	$-1.19	$1.53	$1.24	$2.23	$1.47	$4.24	$16.38	$7.87	$6.74	$8.97
Diluted shares	233.10M	233.90M	233.80M	221.60M	215.20M	216.20M	204.20M	193.80M	180.70M	162.20M
Gross margin	22.9%	10.5%	20.7%	25.6%	19.4%	36.5%	52.4%	38.4%	34.6%	38.5%
Operating margin	3.7%	5.7%	17.3%	21.9%	15.1%	26.4%	48.2%	33.6%	29.4%	32.5%
Net margin	-7.5%	8.7%	6.5%	10.7%	7.7%	14.0%	29.9%	23.0%	20.5%	20.5%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$1.17B	$835.00M	$682.00M	$287.00M	$683.00M	$1.63B	$2.32B	$2.03B	$1.61B	$1.98B
Receivables	$236.00M	$307.00M	$235.00M	$242.00M	$265.00M	$497.00M	$582.00M	$505.00M	$404.00M	$488.00M
Inventory	$339.00M	$275.00M	$309.00M	$351.00M	$287.00M	$408.00M	$474.00M	$299.00M	$314.00M	$383.00M
Total current assets	$2.65B	$1.47B	$1.27B	$974.00M	$1.37B	$2.59B	$3.67B	$3.05B	$2.52B	$2.98B
Goodwill	$2.35B	$2.37B	$2.35B	$2.37B	$2.37B	$2.09B	$2.09B	$2.50B	$2.49B	$2.49B
Total assets	$15.13B	$13.46B	$12.66B	$12.17B	$12.02B	$12.38B	$13.31B	$14.38B	$13.47B	$14.09B
Total current liabilities	$686.00M	$580.00M	$705.00M	$665.00M	$906.00M	$1.43B	$995.00M	$800.00M	$818.00M	$887.00M
Short-term debt	$0	—	$0	$0	$249.00M	$0	—	—	—	—
Long-term debt	$5.78B	$4.69B	$4.70B	$3.96B	$3.71B	$3.46B	$2.96B	$2.97B	$2.97B	$3.21B
Total debt	$5.78B	$4.69B	$4.70B	$3.96B	$3.96B	$3.46B	$2.96B	$2.97B	$2.97B	$3.21B
Total liabilities	$11.78B	$9.88B	$9.70B	$9.28B	$9.10B	$9.17B	$8.26B	$8.66B	$8.48B	$9.25B
Shareholders' equity	$3.35B	$3.58B	$2.96B	$2.90B	$2.92B	$3.21B	$5.05B	$5.72B	$4.99B	$4.84B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$617.00M	$1.63B	$1.50B	$1.50B	$1.23B	$2.87B	$3.85B	$2.76B	$2.27B	$2.75B
Capital expenditures	$2.21B	$473.00M	$422.00M	$404.00M	$309.00M	$514.00M	$453.00M	$499.00M	$518.00M	$950.00M
Free cash flow	-$1.59B	$1.16B	$1.07B	$1.10B	$922.00M	$2.36B	$3.40B	$2.26B	$1.75B	$1.80B
Investing cash flow	-$2.19B	-$413.00M	-$375.00M	-$319.00M	-$299.00M	-$466.00M	-$440.00M	-$1.68B	-$469.00M	-$933.00M
Financing cash flow	$2.44B	-$1.56B	-$1.27B	-$1.58B	-$542.00M	-$1.46B	-$2.70B	-$1.37B	-$2.21B	-$1.48B
Dividends paid	$280.00M	$280.00M	$280.00M	$265.00M	$258.00M	$260.00M	$306.00M	$311.00M	$364.00M	$326.00M
Share buybacks	$0	$0	$467.00M	$370.00M	$100.00M	$539.00M	$1.35B	$580.00M	$1.51B	$1.36B
Stock-based compensation	$19.00M	$17.00M	$22.00M	$28.00M	$25.00M	$30.00M	$41.00M	$37.00M	$36.00M	$45.00M
Depreciation & amortization	$678.00M	$883.00M	$888.00M	$875.00M	$892.00M	$888.00M	$850.00M	$869.00M	$925.00M	$898.00M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$1.57B	$1.47B	$1.57B	$1.37B	$1.52B	$1.66B	$1.89B	$1.66B	$1.87B	$1.99B	$2.22B	$1.86B
Cost of revenue	$1.07B	$1.06B	$893.00M	$926.00M	$1.00B	$1.09B	$1.14B	$1.03B	$1.11B	$1.24B	$1.08B	$1.14B
Gross profit	$501.00M	$409.00M	$679.00M	$444.00M	$524.00M	$572.00M	$755.00M	$632.00M	$765.00M	$746.00M	$1.15B	$720.00M
Selling, general & admin	$76.00M	$88.00M	$76.00M	$78.00M	$78.00M	$84.00M	$101.00M	$88.00M	$91.00M	$103.00M	$89.00M	$87.00M
Operating income	$426.00M	$303.00M	$638.00M	$364.00M	$441.00M	$455.00M	$648.00M	$580.00M	$617.00M	$863.00M	$1.12B	$701.00M
Interest expense	$35.00M	$37.00M	$37.00M	$0	$47.00M	$37.00M	$36.00M	$41.00M	$41.00M	$39.00M	$50.00M	$168.00M
Pre-tax income	$436.00M	$300.00M	$629.00M	$400.00M	$433.00M	$437.00M	$635.00M	$565.00M	$602.00M	$844.00M	$1.09B	$619.00M
Income tax	$84.00M	$62.00M	$123.00M	$59.00M	$41.00M	$86.00M	$143.00M	$105.00M	$107.00M	$168.00M	$224.00M	$99.00M
Net income	$274.00M	$194.00M	$420.00M	$276.00M	$328.00M	$312.00M	$386.00M	$353.00M	$404.00M	$615.00M	$727.00M	$436.00M
EBITDA	$655.00M	$556.00M	$860.00M	$593.00M	$662.00M	$676.00M	$880.00M	$797.00M	$845.00M	$1.09B	$1.34B	$934.00M
EPS (basic)	$1.45	$1.03	$2.30	$1.55	$1.88	$1.85	$2.37	$2.19	$2.58	$3.99	$4.74	$2.88
EPS (diluted)	$1.45	$1.03	$2.30	$1.55	$1.88	$1.85	$2.37	$2.19	$2.58	$3.98	$4.73	$2.87
Diluted shares	-1.10M	188.10M	182.80M	178.60M	-2.40M	168.80M	163.10M	161.20M	-2.10M	154.50M	153.90M	151.60M
Gross margin	31.9%	27.8%	43.2%	32.4%	34.4%	34.4%	39.9%	38.1%	40.9%	37.6%	51.5%	38.7%
Operating margin	27.1%	20.6%	40.6%	26.6%	28.9%	27.4%	34.3%	35.0%	33.0%	43.5%	50.5%	37.7%
Net margin	17.4%	13.2%	26.7%	20.1%	21.5%	18.8%	20.4%	21.3%	21.6%	31.0%	32.7%	23.4%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$2.03B	$1.77B	$1.82B	$1.88B	$1.61B	$1.41B	$1.69B	$1.84B	$1.98B	$2.04B	$2.48B	$2.82B
Receivables	$505.00M	$535.00M	$531.00M	$482.00M	$404.00M	$582.00M	$586.00M	$602.00M	$488.00M	$726.00M	$718.00M	$642.00M
Inventory	$299.00M	$271.00M	$302.00M	$301.00M	$314.00M	$351.00M	$316.00M	$367.00M	$383.00M	$371.00M	$415.00M	$416.00M
Total current assets	$3.05B	$2.72B	$2.80B	$2.85B	$2.52B	$2.43B	$2.68B	$2.98B	$2.98B	$3.39B	$3.75B	$4.09B
Goodwill	$2.50B	$2.50B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B	$2.49B
Total assets	$14.38B	$13.86B	$13.78B	$13.84B	$13.47B	$13.31B	$13.75B	$14.20B	$14.09B	$14.61B	$15.10B	$16.08B
Total current liabilities	$800.00M	$690.00M	$596.00M	$1.01B	$818.00M	$939.00M	$830.00M	$1.31B	$887.00M	$958.00M	$772.00M	$1.37B
Long-term debt	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$3.21B	$3.22B	$3.22B	$3.22B
Total debt	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$2.97B	$3.21B	$3.22B	$3.22B	$3.22B
Total liabilities	$8.66B	$8.42B	$8.31B	$8.65B	$8.48B	$8.53B	$8.79B	$9.35B	$9.25B	$9.27B	$9.35B	$10.35B
Shareholders' equity	$5.72B	$5.44B	$5.46B	$5.19B	$4.99B	$4.78B	$4.96B	$4.85B	$4.84B	$5.34B	$5.75B	$5.73B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$480.00M	$445.00M	$475.00M	$931.00M	$420.00M	$586.00M	$563.00M	$1.06B	$539.00M	$496.00M	$878.00M	$1.17B
Capital expenditures	$188.00M	$98.00M	$84.00M	$139.00M	$197.00M	$132.00M	$245.00M	$347.00M	$226.00M	$223.00M	$271.00M	$282.00M
Free cash flow	$292.00M	$347.00M	$391.00M	$792.00M	$223.00M	$454.00M	$318.00M	$717.00M	$313.00M	$273.00M	$607.00M	$888.00M
Investing cash flow	-$1.41B	-$100.00M	-$34.00M	-$139.00M	-$196.00M	-$126.00M	-$242.00M	-$339.00M	-$226.00M	-$225.00M	-$249.00M	-$282.00M
Financing cash flow	-$302.00M	-$602.00M	-$396.00M	-$745.00M	-$462.00M	-$671.00M	-$62.00M	-$562.00M	-$189.00M	-$199.00M	-$186.00M	-$544.00M
Dividends paid	$76.00M	$97.00M	$91.00M	$90.00M	$86.00M	$86.00M	$81.00M	$81.00M	$78.00M	$78.00M	$77.00M	$91.00M
Share buybacks	$225.00M	$339.00M	$305.00M	$490.00M	$375.00M	$444.00M	$216.00M	$360.00M	$345.00M	$28.00M	$225.00M	$357.00M
Stock-based compensation	$8.00M	$13.00M	$6.00M	$7.00M	$10.00M	$10.00M	$12.00M	$13.00M	$10.00M	$11.00M	$9.00M	$9.00M
Depreciation & amortization	$229.00M	$253.00M	$222.00M	$229.00M	$221.00M	$221.00M	$232.00M	$217.00M	$228.00M	$228.00M	$215.00M	$233.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.