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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 t…
21.23% operating margin is above average.
Revenue up 15.4% YoY with margins expanding 4.0pp. However, free cash flow softened 13%, worth monitoring whether this is timing or structural.
Free cash flow declined 13% versus the prior year, cash generation momentum has weakened. Net debt of $537M represents 5.4x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$643M
▲ +15.4% YoY
Net Income (TTM)
$121M
▲ +62.0% YoY
Op. Margin
23.59%
▲ +4.0pp YoY
ROIC
—
Cash Flow & Balance Sheet
FCF (TTM)
$112M
▼ -12.9% YoY
Op. Cash Flow (TTM)
$170M
▼ -0.6% YoY
Net Debt
$468M
Cash & Equiv.
$128M
5Y CAGR: +11.6%
5Y CAGR: +144.0%
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