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Intrepid Potash, Inc.

Rank #430Op. LeverageWatchlistCompare with other stocks

IPI · NYSE · Basic Materials

Intrepid Potash, Inc. (IPI) — Rank #430 by gross profitability (GP/assets 0.08) · ROE 2.2% · Piotroski F-Score N/A.

As-of 2026-10-30 · CIK 0001421461 · all metrics point-in-time as of the filing date.

About

Intrepid Potash, Inc. delivers potassium, magnesium, sulfur, salt, and water products.

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It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as in agricultural market as a fertilizer input, in animal feed market as a nutrient supplement, in industrial market as a component in drilling and fracturing fluids, as well as input to other industrial processes. It also provides Trio, a specialty fertilizer that delivers potassium, sulfate, and magnesium in a single particle; salt for various markets, including animal feed, industrial applications, pool salt, and the treatment of roads and walkways for ice melting or to manage road conditions; magnesium chloride for use as a road treatment agent for deicing and dedusting; brines for use in oil and gas industry to support well workover and completion activities; and metal recovery salts.

The company was founded in 2000 and is based in Denver, Colorado.

Industry
Agricultural Inputs
Sector
Basic Materials
State
DE
Filer Category
Accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

478

Industry

Agricultural Inputs

Exchange

NYSE

10/11

Flags passed

IPI passes 10/11 quality flags

1 caution to review

  • CAUTION
    Dilution above 2%

    Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Sequential beat (rev + EPS)

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.08
Return on equity
2.2%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.26
Current ratio
6.33×
Net cash
$185.16M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.7%

Growth

1/2 pass
Revenue growth
17.1%
Piotroski F-Score
N/A
Share dilution
2.3%

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 0.08

Gross profitability (GP / assets)

0.08

Primary signal (Novy-Marx).

6th of 6 SIC 1400 peers

Return on equity

2.2%

Gross margin

18.4%

6th of 6 SIC 1400 peers

Revenue growth (YoY)

17.1%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

—

Revenue CAGR (5Y)

—

Earnings CAGR (3Y)

-46.3%

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 128% above net income

Free cash flow

$25.54M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

128.3%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.7%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

Caution: Dilution above 2% · net cash $185.16M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.26

4th of 6 SIC 1400 peers (best = lowest)

Current ratio

6.33×

2nd of 6 SIC 1400 peers

Quick ratio

4.12×

Net cash

$185.16M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 8/9 components determinable.

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.7 / 5

Fair
Share count trend
2.3%2/5 Fair
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory
0.0%3/5 Good

Lifecycle Phase History

20232025
Op. Leverage

Price History

IPI+27.2% · +4.9% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports