CVR Energy Inc (CVI)

CVR Energy, Inc., together with its subsidiaries, engages in renewable fuels and petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates through three segments: Petroleum, Renewables, and Nitrogen Fertilizer. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel, jet fuel, and distillates; and includes crude gathering and logistics activities that support refinery operations. This segment also owns and operates a coking, medium-sour crude oil refinery in Kansas; and a crude oil refinery in Oklahoma. This segment serves retailers, railroads, farm cooperatives, and other refiners/marketers. The Renewables segment refines renewable feedstocks, including soybean oil, corn oil, and other renewable feedstocks into renewable diesel; and marketing of renewables products. The Nitrogen Fertilizer segment owns and operates a nitrogen fertilizer plant in Coffeyville, Kansas that utilizes a pet coke gasification process to produce nitrogen fertilizer products; and a nitrogen fertilizer facility in East Dubuque, Illinois that produces nitrogen fertilizers in the form of ammonia and urea ammonium nitrate (UAN) and nitric acid. This segment primarily markets UAN products to agricultural customers; and ammonia products to agricultural and industrial customers. The company was founded in 1906 and is headquartered in Sugar Land, Texas. CVR Energy, Inc. is a subsidiary of Icahn Enterprises Holdings L.P.

Ticker
CVI
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Refining & Marketing
Market cap
$3.83B
52-week range
$19.62 - $63.51

Valuation

Share price
$38.13 (close of Nov 6, 2026)
P/E (TTM)
14.44x
Price to book
3.05x
Price to free cash flow
4.68x
Enterprise value
$4.35B
Book value per share
$12.51

Price performance

PeriodChange
1 day-4.29%
5 days-34.68%
1 month-33.59%
3 months+21.55%
6 months+16.29%
Year to date+49.88%
1 year+4.24%
3 years+17.03%
5 years+114.45%
10 years+195.81%
All time+88.30%

Short interest

As of
Oct 15, 2026
Short % of float
20.36%
Shares short
5.97M
Days to cover
7.65
Change since prior report
+6.48%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
3.01%
Return on invested capital
6.79%
Return on assets
0.73%
Return on capital employed
6.07%
Gross margin
4.83%
Net margin
0.38%
EBITDA margin
8.17%
Revenue growth
-5.89%
Net income growth
285.71%
Free cash flow growth
-118.22%

Cash flow and balance sheet

Free cash flow yield (TTM)
21.37%
Current ratio
1.73x
Net debt to EBITDA
0.54x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$7.16B
Cost of revenue
$6.82B
Gross profit
$346.00M
EBITDA
$585.00M
Net income
$27.00M
Earnings per share
$0.27
Interest expense
$139.00M
Shares outstanding
100.50M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$7.16B$346.00M$27.00M$0.27
2024-12-31$7.61B$205.00M$7.00M$0.06
2023-12-31$9.25B$1.27B$769.00M$7.65
2022-12-31$10.90B$1.13B$463.00M$4.60
2021-12-31$7.24B$218.00M$25.00M$0.25
2020-12-31$3.93B-$189.00M-$256.00M-$2.54
2019-12-31$6.36B$702.00M$380.00M$3.78
2018-12-31$7.12B$661.00M$259.00M$2.80
2017-12-31$5.99B$272.00M$263.00M$3.03
2016-12-31$4.78B$190.00M$25.00M$0.28

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-314.83%0.38%3.01%6.79%
2024-12-312.69%0.09%0.79%2.05%
2023-12-3113.77%8.32%74.08%28.30%
2022-12-3110.37%4.25%58.53%33.63%
2021-12-313.01%0.35%3.25%3.56%
2020-12-31-4.81%-6.51%-21.00%-8.14%
2019-12-3111.03%5.97%22.78%15.68%
2018-12-319.28%3.64%13.33%14.32%
2017-12-314.54%4.39%14.43%4.85%
2016-12-313.97%0.52%1.40%2.37%

Cash and debt by year

Period endCashDebt
2025-12-31$511.00M$1.70B
2024-12-31$987.00M$1.90B
2023-12-31$581.00M$2.10B
2022-12-31$510.00M$1.50B
2021-12-31$510.00M$1.65B
2020-12-31$667.00M$1.68B
2019-12-31$652.00M$1.19B
2018-12-31$668.00M$1.17B
2017-12-31$482.00M$1.16B
2016-12-31$736.00M$1.16B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31-$41.00M$42.00M
2024-12-31$225.00M$15.00M
2023-12-31$743.00M$34.00M
2022-12-31$776.00M$71.00M
2021-12-31$172.00M$46.00M
2020-12-31-$34.00M$4.00M
2019-12-31$626.00M$17.00M
2018-12-31$526.00M$16.00M
2017-12-31$128.00M$19.00M
2016-12-31$134.00M$9.00M

Dividend history

Most recent payment
Aug 10, 2026
Payment dateDividend per share
2026-08-10$0.10
2026-05-11$0.10
2024-08-12$0.50
2024-05-10$0.50
2024-03-01$0.50
2023-11-10$2.00
2023-08-11$1.50
2023-05-12$0.50

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$3.09
2026-07-29Jun 2026$0.18
2026-04-29Mar 2026-$0.54
2026-02-18Dec 2025-$0.84
2025-10-29Sep 2025$0.20
2025-07-30Jun 2025-$0.08
2025-04-28Mar 2025-$0.90
2025-02-18Dec 2024-$0.65

Filings and sources

Company website
cvrenergy.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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