CF Industries Holdings, Inc.
Rank #383Capital ReturnCF · NYSE · Basic Materials
CF Industries Holdings, Inc. (CF) — Rank #383 by gross profitability (GP/assets 0.18) · ROE 25.3% · Piotroski F-Score 8 / 9.
As-of 2026-09-15 · CIK 0001324404 · all metrics point-in-time as of the filing date.
About
CF Industries Holdings, Inc., together with its subsidiaries, engages in the production of ammonia in North America, Europe, and internationally.
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It operates through Ammonia, Granular Urea, UAN, AN, and Other segments. The company offers ammonia products; nitrogen products, such as granular urea, urea ammonium nitrate solution, and ammonium nitrate; diesel exhaust fluid, urea liquor, and nitric acid products. It serves cooperatives, retailers, independent fertilizer distributors, traders, wholesalers, and industrial users.
The company was founded in 1946 and is headquartered in Northbrook, Illinois.
- Industry
- Agricultural Inputs
- Sector
- Basic Materials
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- cfindustries.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$20.43B
P/E (annual)
15.1
P/S (annual)
2.9
P/B
3.6
P/OCF (annual)
7.4
Shareholder Yield
11.8%
Employees
2,900
Industry
Agricultural Inputs
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 2/5 Terry Smith thresholdsWhat Growth Is Priced In
Implied revenue growth (10Y)
0.9%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -10.2% — per-share value needs a total required return of -9.4% once share-count change is priced in.
vs. own 6-year median revenue growth: 4.6%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-3.0%
r = 10% (base)
0.9%
r = 12%
4.3%
Net debt / market cap: 3.4%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.18
Primary signal (Novy-Marx).
27th pctl of 34 SIC 28 peers
Return on equity
25.3%
Gross margin
38.5%
39th pctl of 34 SIC 28 peers
Revenue growth (YoY)
19.3%
RPO growth (YoY)
4.5%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-14.1%
Revenue CAGR (5Y)
11.4%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
-19.1%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.69
57th pctl of 31 SIC 28 peers (best = lowest)
Current ratio
4.86×
82nd pctl of 34 SIC 28 peers
Quick ratio
4.14×
Net cash
-$736.00M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$1.80B
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.24
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.6%
Stock-based comp intensity.
Dividend safety
Composite score
3.5 / 5
Piotroski F-Score
F-Score
8 / 9
Fundamental-strength score (0-9).