C 
CF Industries Holdings CF · USD
Materials · Chemicals · US listing · 🇺🇸 United States
S&P 500
119.28
-0.09%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$7.08bn
FY2016FY2025
Net income
$1.46bn
FY2016FY2025
Free cash flow
$1.80bn
FY2016FY2025
Shareholders' equity
$4.84bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.08bn | $5.94bn | $6.63bn | $11.19bn | $6.54bn | $4.12bn | $4.59bn | $4.43bn | $4.13bn | $3.69bn |
| Gross profit | $2.72bn | $2.06bn | $2.65bn | $5.89bn | $2.36bn | $834.0m | $1.18bn | $906.0m | $521.0m | $713.0m |
| Operating income | $2.37bn | $1.75bn | $2.36bn | $5.60bn | $2.14bn | $628.0m | $945.0m | $694.0m | $330.0m | $539.0m |
| Net income | $1.46bn | $1.22bn | $1.52bn | $3.35bn | $917.0m | $317.0m | $493.0m | $290.0m | $358.0m | −$277.0m |
| Diluted earnings per share | 9.32 | 7.02 | 8.00 | 16.95 | 4.26 | 1.48 | 2.25 | 1.26 | 1.53 | -1.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $14.09bn | $13.47bn | $14.38bn | $13.31bn | $12.38bn | $12.02bn | $12.17bn | $12.66bn | $13.46bn | $15.13bn |
| Cash and short-term investments | $1.98bn | $1.61bn | $2.03bn | $2.32bn | $1.63bn | $683.0m | $287.0m | $682.0m | $835.0m | $1.16bn |
| Total liabilities | $6.31bn | $5.87bn | $6.00bn | $5.46bn | $6.34bn | $6.42bn | $6.54bn | $6.93bn | $6.78bn | $8.64bn |
| Debt | $3.33bn | $2.97bn | $2.97bn | $2.96bn | $3.46bn | $3.96bn | $3.96bn | $4.70bn | $4.69bn | $5.78bn |
| Shareholders' equity | $4.84bn | $4.99bn | $5.72bn | $5.05bn | $3.21bn | $2.92bn | $2.90bn | $5.73bn | $6.68bn | $6.49bn |
| Shares outstanding | 156m | 174m | 191m | 197m | 216m | 215m | 219m | 231m | 234m | 233m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.75bn | $2.27bn | $2.76bn | $3.85bn | $2.87bn | $1.23bn | $1.50bn | $1.50bn | $1.63bn | $617.0m |
| Capital spending | −$950.0m | −$518.0m | −$501.0m | −$462.0m | −$524.0m | −$309.0m | −$404.0m | −$422.0m | −$473.0m | −$2.21bn |
| Free cash flow | $1.80bn | $1.75bn | $2.26bn | $3.39bn | $2.35bn | $922.0m | $1.10bn | $1.07bn | $1.16bn | −$1.59bn |
| Dividends paid | −$326.0m | −$364.0m | −$311.0m | −$306.0m | −$260.0m | −$258.0m | −$265.0m | −$280.0m | −$280.0m | −$280.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.22bn | $1.99bn | $1.87bn | $1.66bn | $1.89bn | $1.66bn | $1.52bn | $1.37bn |
| Gross profit | $1.15bn | $746.0m | $769.0m | $632.0m | $846.0m | $677.0m | $523.0m | $446.0m |
| Operating income | $1.08bn | $659.0m | $678.0m | $580.0m | $745.0m | $593.0m | $445.0m | $368.0m |
| Net income | $727.0m | $615.0m | $404.0m | $353.0m | $386.0m | $312.0m | $328.0m | $276.0m |
| Diluted earnings per share | 4.72 | 4.00 | 2.59 | 2.26 | 2.47 | 2.00 | 1.89 | 1.59 |
| Cash from operations | $878.0m | $496.0m | $539.0m | $1.06bn | $563.0m | $586.0m | $420.0m | $931.0m |
| Capital spending | −$271.0m | −$223.0m | −$226.0m | −$347.0m | −$245.0m | −$132.0m | −$197.0m | −$139.0m |
| Free cash flow | $607.0m | $273.0m | $313.0m | $717.0m | $318.0m | $454.0m | $223.0m | $792.0m |
| Total assets | $15.10bn | $14.61bn | $14.09bn | $14.20bn | $13.75bn | $13.31bn | $13.47bn | $13.84bn |
| Cash and short-term investments | $2.48bn | $2.04bn | $1.98bn | $1.84bn | $1.69bn | $1.41bn | $1.61bn | $1.88bn |
| Debt | $3.32bn | $3.32bn | $3.33bn | $3.08bn | $3.07bn | $3.06bn | $3.06bn | $3.06bn |
| Shareholders' equity | $5.75bn | $5.34bn | $4.84bn | $4.85bn | $4.96bn | $4.78bn | $4.99bn | $5.19bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2012 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 38.5% | 34.6% | 39.9% | 52.7% | 36.1% | 20.2% | — |
| Operating margin | 33.4% | 29.4% | 35.5% | 50.1% | 32.7% | 15.2% | — |
| Net margin | 20.5% | 20.5% | 23.0% | 29.9% | 14.0% | 7.7% | — |
| Return on equity | 30.1% | 24.4% | 26.7% | 66.2% | 28.6% | 10.8% | — |
| Return on assets | 10.3% | 9.0% | 10.6% | 25.1% | 7.4% | 2.6% | — |
| Free cash flow yield | 20.5% | 13.9% | 14.8% | 18.9% | 13.6% | 6.2% | — |
| Revenue growth | 19.3% | -10.5% | -40.7% | 71.1% | 58.5% | -10.2% | — |
| Earnings growth | 19.5% | -20.1% | -54.4% | 264.9% | 189.3% | -35.7% | — |
| Current ratio | 3.37x | 3.08x | 3.81x | 3.69x | 1.81x | 1.51x | — |
| Debt to equity | 0.69x | 0.61x | 0.54x | 0.61x | 1.11x | 1.39x | — |
| Equity ratio | 34.3% | 37.0% | 39.8% | 37.9% | 25.9% | 24.3% | — |
| Interest coverage | 15.26x | 14.43x | 15.71x | 16.28x | 11.62x | 3.51x | — |
| R&D as a share of sales | — | — | — | — | — | — | 0.4% |
| Buybacks as a share of market value | 10.0% | 9.0% | 3.4% | 8.4% | -0.3% | 1.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.1% | 11.4% | 5.1% |
| Operating income | -25.0% | 30.4% | 3.6% |
| Net income | -24.2% | 35.6% | 7.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 36.7% | 43.2% | 39.8% | 34.6% |
| Operating margin | 31.6% | 39.1% | 35.7% | 30.3% |
| Net margin | 20.5% | 24.5% | 21.2% | 16.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.3 | 12.2 | 9.9 | 5.0 | 16.6 | 26.2 | 21.2 | 34.6 | 27.8 | -26.5 |
| Price to sales | 1.7 | 2.5 | 2.3 | 1.5 | 2.3 | 2.0 | 2.3 | 2.3 | 2.4 | 2.0 |
Market value over time
31 Oct 2016 to 29 Sept 2026, in USD
$5.60bn$17.81bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | -7% | 8% | -16% | 45% | 71% | -22% | 18% | -0% | 41% | -28% |
Dividends and splits
Per share, in the currency the company pays
Paid for 21 years. Last went ex-dividend on 14 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.60 | 2.00 | 2.00 | 1.60 | 1.50 | 1.20 | 1.20 | 1.20 |
- 5-for-1 split · 18 Jun 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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