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Our Company All references to CF Holdings, we, us, our and the Company, refer to CF Industries Holdings, Inc. and its subsidiaries, except where the context makes clear that the reference is to CF Industries Holdings, Inc. only and not its subsidiaries. All references to CF Industries refer to CF Industries, Inc., a 100% owned subsidiary of CF Industries Holdings, Inc.
$112.35
$4.15 (-3.56%)
Price from 5 days ago
Margins and capital returns are both well above average: 32.47% operating margin, ROIC at 22.26%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 19.3% YoY with margins expanding 3.1pp.
Even for strong businesses, today's 10x P/E means the stock needs to keep delivering. There's no margin of safety if growth disappoints.
10.1x earnings, 9.6x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$7.41B
▲ +19.3% YoY
Net Income (TTM)
$1.76B
▲ +19.5% YoY
Op. Margin
36.56%
▲ +3.1pp YoY
ROIC
36.99%
▲ +5.2pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$1.80B
▲ +2.8% YoY
Op. Cash Flow (FY)
$2.75B
▲ +21.2% YoY
Net Debt
-$2.04B
Net Cash Position
Cash & Equiv.
$2.04B
5Y CAGR: +11.4%
5Y CAGR: +14.3%
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