CVR Partners, LP (UAN)

CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer in the United States. The company offers ammonia and urea ammonium nitrate products. It serves agricultural and industrial customers. The company was incorporated in 2007 and is based in Sugar Land, Texas.

Ticker: UAN
Exchange: NYSE
Sector: Basic Materials
Industry: Agricultural Inputs
Market cap: $1.16B
52-week range: $93.43 - $139.50

Valuation

Share price: $109.48 (close of Nov 6, 2026)
P/E (TTM): 10.89x
Price to free cash flow: 7.78x
Enterprise value: $1.57B

Price performance

Period	Change
1 day	+0.82%
5 days	-13.63%
1 month	-12.61%
3 months	-13.45%
6 months	-16.04%
Year to date	+6.81%
1 year	+9.90%
3 years	+37.66%
5 years	+36.83%
10 years	+160.67%
All time	-37.62%

Short interest

As of: Oct 15, 2026
Shares short: 199.29K
Days to cover: 9.41
Change since prior report: -10.57%
Source: FINRA consolidated short interest

Profitability and growth

Return on invested capital: 22.41%
Return on assets: 10.18%
Return on capital employed: 14.74%
Gross margin: 26.96%
Net margin: 16.28%
EBITDA margin: 34.74%
Revenue growth: 15.36%
Net income growth: 62.01%
Free cash flow growth: -12.89%

Cash flow and balance sheet

Free cash flow yield (TTM): 12.85%
Current ratio: 1.65x
Net debt to EBITDA: 1.85x

Latest reported year

Period end: Dec 31, 2025
Fiscal year: 2025
Revenue: $606.04M
Cost of revenue: $442.67M
Gross profit: $163.37M
EBITDA: $210.53M
Net income: $98.66M
Earnings per share: $9.33
Interest expense: $30.34M
Shares outstanding: 10.57M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$606.04M	$163.37M	$98.66M	$9.33
2024-12-31	$525.32M	$118.86M	$60.90M	$5.76
2023-12-31	$681.48M	$232.46M	$172.43M	$16.31
2022-12-31	$835.58M	$352.37M	$286.80M	$27.07
2021-12-31	$532.58M	$162.04M	$78.16M	$7.31
2020-12-31	$349.95M	$24.84M	-$98.18M	-$8.77
2019-12-31	$404.18M	$56.61M	-$34.97M	-$3.09
2018-12-31	$351.08M	$31.73M	-$50.03M	-$4.42
2017-12-31	$330.80M	$15.59M	-$72.79M	-$6.40
2016-12-31	$356.28M	$54.05M	-$26.94M	-$2.60

Margins and returns by year

Period end	Gross margin	Net margin	Return on capital
2025-12-31	26.96%	16.28%	22.41%
2024-12-31	22.63%	11.59%	15.76%
2023-12-31	34.11%	25.30%	36.53%
2022-12-31	42.17%	34.32%	58.17%
2021-12-31	30.43%	14.67%	21.90%
2020-12-31	7.10%	-28.06%	-5.45%
2019-12-31	14.01%	-8.65%	4.30%
2018-12-31	9.04%	-14.25%	0.98%
2017-12-31	4.71%	-22.00%	-1.64%
2016-12-31	15.17%	-7.56%	3.89%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$69.24M	$569.07M
2024-12-31	$90.86M	$567.97M
2023-12-31	$45.28M	$547.31M
2022-12-31	$86.34M	$546.80M
2021-12-31	$112.52M	$610.64M
2020-12-31	$30.56M	$633.94M
2019-12-31	$36.99M	$632.41M
2018-12-31	$61.78M	$628.99M
2017-12-31	$49.17M	$625.90M
2016-12-31	$55.59M	$623.11M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$98.84M	$9.80M
2024-12-31	$113.47M	$4.90M
2023-12-31	$219.33M	$8.23M
2022-12-31	$256.80M	$25.26M
2021-12-31	$168.13M	$23.07M
2020-12-31	$1.14M	$1.03M
2019-12-31	$20.50M	$3.44M
2018-12-31	$12.43M	$3.02M
2017-12-31	-$4.16M	$3.02M
2016-12-31	$21.74M	$2.79M

Dividend history

Most recent payment: Aug 10, 2026
Paid in the last twelve months: $14.47

Payment date	Dividend per share
2026-08-10	$6.08
2026-05-11	$4.00
2026-03-02	$0.37
2025-11-10	$4.02
2025-08-11	$3.89
2025-05-12	$2.26
2025-03-03	$1.75
2024-11-08	$1.19

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-03	Sep 2026	-
2026-07-29	Jun 2026	-
2026-04-29	Mar 2026	-
2026-02-18	Dec 2025	-
2025-10-29	Sep 2025	-
2025-07-30	Jun 2025	-
2025-04-28	Mar 2025	-
2025-02-18	Dec 2024	-

Filings and sources

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

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