Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

CF Industries

CF stock analysis · Materials · Fertilizers & Agricultural Chemicals

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$108.26HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$16.6B

Price × SEC outstanding shares. Shares measured 2026-05-04. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$178.15

Equity cash-flow scenario · SEC outstanding shares at 2026-05-04 · 64.6% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

-6.5%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

161.0%

18 sector peers · median 29.8×

How this is calculated ↗
Valuation

Historical multiples

11.4×

7 annual observations · snapshot P/E 11.4× · 0.0% versus history

How this is calculated ↗
Valuation

Free cash flow yield

10.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

20.2%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

79/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

4.6%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

10.2%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-6.9%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

7.7%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 3.9B2020-12-31: cfo $1,231,000,000.002020-12-31: capex $309,000,000.0020202021-12-31: cfo $2,873,000,000.002021-12-31: capex $514,000,000.0020212022-12-31: cfo $3,855,000,000.002022-12-31: capex $453,000,000.0020222023-12-31: cfo $2,757,000,000.002023-12-31: capex $499,000,000.0020232024-12-31: cfo $2,271,000,000.002024-12-31: capex $518,000,000.0020242025-12-31: cfo $2,752,000,000.002025-12-31: capex $950,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$223.46$243.81$265.70
10.0%$163.75$178.15$193.62
12.0%$129.18$140.18$151.96

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-317.1B1.8B2.8B950M14.1B
2024-12-315.9B1.5B2.3B518M13.5B
2023-12-316.6B1.8B2.8B499M14.4B
2022-12-3111.2B3.9B3.9B453M13.3B
2021-12-316.5B1.3B2.9B514M12.4B
2020-12-314.1B432M1.2B309M12B
2019-12-314.6B646M1.5B404M12.2B
2018-12-314.4B428M1.5B422M12.7B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue7.1BRevenues2026-02-25
netIncome1.8BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-25
Parent/common earnings proxy1.5BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-25
cfo2.8BNetCashProvidedByUsedInOperatingActivities2026-02-25
capex950MPaymentsToAcquirePropertyPlantAndEquipment2026-02-25
operatingIncome2.3BOperatingIncomeLoss2026-02-25
assets14.1BAssets2026-02-25
equity7.8BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-25
Parent book equity proxy4.8BStockholdersEquity2026-02-25
debt3.2BLongTermDebt2026-02-25
shortDebtNot reported under a supported tag
cash2BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-25
shares162.2MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-25
dividends326MPaymentsOfDividendsCommonStock2026-02-25
buybacks1.4BPaymentsForRepurchaseOfCommonStock2026-02-25
issuance1MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from issuances of common stock under employee stock plans: 1000000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 9 financing lines reconcile exactly to reported financing cash flow -1484000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-25