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NYSE · AGRICULTURAL CHEMICALS · LARGE CAP

CF Industries Holdings, Inc. CF

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$7.1B
▲ 19.3% YoY
$1.8B
▲ 21.7% YoY
$1.8B
▲ 2.8% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

At its core, CF Industries is a producer of ammonia, using the Haber-Bosch process to fix atmospheric nitrogen with hydrogen from natural gas to produce anhydrous ammonia. Its value chain consists of manufacturing complexes in the United States, Canada and the United Kingdom, a storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach. Its core product is anhydrous ammonia, which contains 82% nitrogen and 18% hydrogen, and products derived from ammonia that are most often used as nitrogen fertilizers include granular urea, urea ammonium nitrate solution and ammonium nitrate. Its principal customers are cooperatives, retailers, independent fertilizer distributors, traders, wholesalers and industrial users. For the year ended December 31, 2025, the company sold 19.1 million product tons. CF Industries was founded in 1946 as Central Farmers Fertilizer Company and was owned by a group of regional agriculture cooperatives for the first 59 years of its existence.

Written from the business description in CF INDUSTRIES HOLDINGS, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 7.1B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 7.1 · Net income 1.8
5B10B
2007201020132017202020232025
Compound annual growth
−14.1%
+11.4%
−23.0%
+33.0%
−18.2%
+43.6%
+10.1%
+10.8%
+3.0%
+36.8%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +11.4% a year over the five years to FY2025 — but profit grew faster: net income at +33.0%, earnings per share at +43.6%.

The share count fell from 0.21B to 0.15B — the buyback concentrates the same profit into fewer slices.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

25 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 32.5% · Net 25.4%
20%40%
200720152025
ROE
FY2011 · ROE 35.8%
20%40%
200720152025
Three returns, three denominators.
Return on equityNot available: we don't have a clean profit figure for this period.
Gross margin38.5%
Operating margin32.5%
Net margin25.4%
EBITDAUSD 3.2B

Return on equity has no reading this year — return on capital employed, just below, still does: 18%.

Cash & shareholders

USD 1.7B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.8
1.5B3.0B-0.5B-1.0B
200720152025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.3 · Net buybacks 1.4
1B2BDividendsNet buybacks
2007201020132017202020232025
Dividends paidUSD 326.0M
Net buybacksUSD 1.4B
Share of profit·
Consecutive raises·

USD 326.0M in dividends and USD 1.4B in buybacks — Not available: we don't have a clean profit figure for this period.

Total assetsUSD 14.1B
EquityUSD 4.8B
CashUSD 2.0B
Gross debtUSD 3.2B
Net debtUSD 1.2B
Current ratio3.37×

Net debt stands at 25% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
CF, 18-year financial record
Metric 202520242023202220212020201920182017201520142013201220112010200920082007
Revenue $B7.15.96.611.26.54.14.64.44.14.34.75.56.16.14.02.63.92.8
Operating income $B2.31.72.25.41.70.61.00.80.21.22.42.43.02.80.90.71.20.6
EBITDA $B3.22.73.16.22.61.51.91.71.11.72.82.83.43.21.3◌◌◌
Income tax $B0.40.30.41.20.30.00.10.1−0.60.40.80.71.00.90.30.20.40.2
Net income $B1.81.51.83.91.30.40.60.40.50.71.41.51.91.80.40.40.70.4
Free cash flow $B1.81.82.33.42.40.91.11.11.2−1.3−0.40.61.91.80.90.40.50.6
EPS, diluted $8.976.747.8716.384.241.472.231.241.532.965.424.9528.5921.985.347.4212.136.56
Dividend / sh $2.002.001.601.501.201.201.201.201.201.201.000.441.601.000.400.400.400.08
Payout %◌◌◌◌◌◌◌◌◌◌◌◌◌48531
ROE %◌◌◌◌◌◌◌◌◌◌◌◌◌35.812.123.853.930.9
Shares out B0.150.170.190.200.210.210.220.220.230.230.050.060.060.070.070.050.05◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 86 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityAgricultural Chemicals
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2007

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