CF IndustriesCFEarnings & Financial Report
CF Industries Holdings, Inc. is an American manufacturer and distributor of agricultural fertilizers, including ammonia, urea, and ammonium nitrate products. The company is based in Northbrook, Illinois, a suburb of Chicago, and was founded in 1946 as the Central Farmers Fertilizer Company. For its first 56 years, it was a federation of regional agricultural supply cooperatives. CF then demutualized, and became a publicly traded company.
Revenue
$1.9B
Gross Profit
$765.0M
Operating Profit
$617.0M
Net Profit
$495.0M
Gross Margin
40.9%
Operating Margin
33.0%
Net Margin
26.4%
YoY Growth
22.8%
EPS
$2.56
CF Industries Q4 FY2025 Financial Summary
CF Industries reported revenue of $1.9B (up 22.8% YoY) for Q4 FY2025, with a net profit of $495.0M (up 26.3% YoY) (26.4% margin). Cost of goods sold was $1.1B, operating expenses totaled $148.0M.
Key Financial Metrics
| Total Revenue | $1.9B |
|---|---|
| Net Profit | $495.0M |
| Gross Margin | 40.9% |
| Operating Margin | 33.0% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
CF Industries Q4 FY2025 revenue of $1.9B breaks down across 6 segments, led by Ammonia at $591.0M (31.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Ammonia | $591.0M | 31.6% |
| UAN | $493.0M | 26.3% |
| Urea | $372.0M | 19.9% |
| Other | $244.0M | 13.0% |
| Other Products | $147.0M | 7.9% |
| Ammonium Nitrate Segment | $25.0M | 1.3% |
CF Industries Revenue by Segment — Quarterly Trend
CF Industries revenue by segment across the last 4 reported quarters, showing how each business line (such as Ammonia and UAN) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Ammonia | — | $591.0M | $330.0M | $415.0M |
| UAN | — | $493.0M | $406.0M | $558.0M |
| Urea | — | $372.0M | $423.0M | $547.0M |
| Other | $975.0M | $244.0M | $311.0M | $188.0M |
| Other Products | — | $147.0M | $140.0M | $125.0M |
CF Industries Annual Revenue by Year
CF Industries annual revenue history includes year-by-year totals (for example, 2025 revenue was $7.1B).
| Year | Annual Revenue |
|---|---|
| 2025 | $7.1B |
| 2024 | $5.9B |
| 2023 | $6.6B |
| 2022 | $11.2B |
CF Industries Quarterly Revenue & Net Profit History
CF Industries results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $2.0B | +19.4% | $615.0M | 31.0% |
| Q4 FY2025 | $1.9B | +22.8% | $495.0M | 26.4% |
| Q3 FY2025 | $1.7B | +21.1% | $460.0M | 27.7% |
| Q2 FY2025 | $1.9B | +20.2% | $492.0M | 26.0% |
| Q1 FY2025 | $1.7B | +13.1% | $351.0M | 21.1% |
| Q4 FY2024 | $1.5B | -3.0% | $392.0M | 25.7% |
| Q3 FY2024 | $1.4B | +7.6% | $341.0M | 24.9% |
| Q2 FY2024 | $1.6B | -11.4% | $506.0M | 32.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.57B | $1.37B | $1.52B | $1.66B | $1.89B | $1.66B | $1.87B | $1.99B |
| YoY Growth | -11.4% | 7.6% | -3.0% | 13.1% | 20.2% | 21.1% | 22.8% | 19.4% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $13.78B | $13.84B | $13.47B | $13.31B | $13.75B | $14.20B | $14.09B | $14.61B |
| Liabilities | $8.31B | $8.65B | $8.48B | $8.53B | $8.79B | $9.35B | $9.25B | $9.27B |
| Equity | $5.46B | $5.19B | $4.99B | $4.78B | $4.96B | $4.85B | $4.84B | $5.34B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $475.0M | $931.0M | $420.0M | $586.0M | $563.0M | $1.06B | $539.0M | $496.0M |