A Business at a Glance
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CVR ENERGY INC
CVI
$3.3B
Mkt Cap
$33.45
-1.44%
CVR ENERGY INC (CVI) has a current P/E ratio of 123.9, compared to its historical median P/E of 7.1. The stock is currently considered Expensive based on its historical valuation range.
CVR ENERGY INC (CVI) has a 5-year average return on invested capital (ROIC) of 21.8%. This indicates strong capital allocation and a potential competitive advantage.
CVR ENERGY INC (CVI) has a market capitalization of $3.4B. It is classified as a mid-cap stock.
CVR ENERGY INC (CVI) does not currently pay a regular dividend.
Based on historical P/E analysis, CVR ENERGY INC (CVI) appears expensive. The current P/E of 123.9 is 1635% above its historical median of 7.1. The estimated fair value CAGR (P/E method) is -3.0%.
CVR ENERGY INC (CVI) operates in the Petroleum Refining industry, within the Energy sector.
CVR ENERGY INC (CVI) reported annual revenue of $7.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
CVR Energy, Inc. is a diversified holding company, formed in September 2006, primarily engaged in the petroleum refining and marketing industry, the renewable fuels industry, and the nitrogen fertilizer manufacturing industry through its interest in CVR Partners, LP, a publicly traded limited partnership (“CVR Partners”). As used in this Annual Report on Form 10-K, the terms “CVR Energy”, the “Company”, “we”, “us”, or “our” generally include the Company’s subsidiaries, including CVR Partners and its subsidiaries, as consolidated subsidiaries of the Company, unless otherwise noted or implied. As of December 31, 2025, we had three reportable segments as follows: •Petroleum Segment includes the refining and marketing of high value transportation fuels which consist of gasoline, diesel, jet fuel, and distillates. The Petroleum Segment also includes activities related to crude gathering and logistics that support the refinery operations.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.5B | 7.2B | 7.6B | 9.2B | 10.9B | 7.2B |
| Net Income | -42M | 27M | 7.0M | 769M | 463M | 25M |
| EPS | $-0.42 | $0.27 | $0.06 | $7.65 | $4.60 | $0.25 |
| Free Cash Flow | 222M | -41M | 225M | 743M | 776M | 172M |
| ROIC | 7.3% | 10.0% | 2.8% | 44.6% | 46.5% | 4.8% |
| Gross Margin | - | 10.8% | 7.5% | 17.5% | 12.2% | 8.0% |
| Debt/Equity | 3.32 | 2.44 | 2.75 | 2.60 | 3.02 | 3.03 |
| Dividends/Share | $0.00 | $0.00 | $1.29 | $4.51 | $4.80 | $2.41 |
| Operating Income | 168M | 182M | 58M | 1.1B | 963M | 87M |
| Operating Margin | 2.2% | 2.5% | 0.8% | 12.1% | 8.8% | 1.2% |
| ROE | -7.8% | 3.8% | 0.9% | 111.6% | 85.4% | 3.2% |
| Shares Outstanding | 101M | 100M | 117M | 101M | 101M | 100M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 9.1B | 5.4B | 4.8B | 6.0B | 7.1B | 6.4B | 3.9B | 7.2B | 10.9B | 9.2B | 7.6B | 7.2B | 7.5B |
| Gross Margin | 11.5% | 13.5% | 10.0% | 11.0% | 13.1% | 15.7% | -6.3% | 8.0% | 12.2% | 17.5% | 7.5% | 10.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 110M | 99M | 110M | 113M | 112M | 117M | 86M | 119M | 149M | 141M | 139M | 148M | 150M |
| EBIT | 264M | 422M | 70M | 145M | 532M | 580M | -333M | 87M | 963M | 1.1B | 58M | 182M | 168M |
| Op. Margin | 2.9% | 7.8% | 1.5% | 2.4% | 7.5% | 9.1% | -8.5% | 1.2% | 8.8% | 12.1% | 0.8% | 2.5% | 2.2% |
| Net Income | 174M | 170M | 25M | 234M | 259M | 380M | -256M | 25M | 463M | 769M | 7.0M | 27M | -42M |
| Net Margin | 1.9% | 3.1% | 0.5% | 3.9% | 3.6% | 6.0% | -6.5% | 0.3% | 4.2% | 8.3% | 0.1% | 0.4% | -0.6% |
| Non-Recurring | 4.7M | 37M | -1.0M | -3.0M | -6.0M | 4.0M | 34M | -3.0M | -11M | 2.0M | 5.0M | 5.0M | 5.0M |
| Returns on Capital | |||||||||||||
| ROIC | 109.7% | 115.2% | 6.5% | 10.1% | 25.8% | 22.9% | -9.7% | 4.8% | 46.5% | 44.6% | 2.8% | 10.0% | 7.3% |
| ROE | 17.6% | 17.2% | 2.7% | 26.4% | 23.5% | 28.4% | -21.2% | 3.2% | 85.4% | 111.6% | 0.9% | 3.8% | -7.8% |
| ROA | 5.0% | 5.1% | 0.7% | 6.0% | 6.6% | 9.6% | -6.5% | 0.6% | 11.5% | 17.4% | 0.2% | 0.7% | -1.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 640M | 537M | 267M | 248M | 628M | 747M | 90M | 396M | 967M | 948M | 404M | 144M | 403M |
| Free Cash Flow | 422M | 318M | 134M | 128M | 526M | 626M | -34M | 172M | 776M | 743M | 225M | -41M | 222M |
| Owner Earnings | 474M | 360M | 65M | -29M | 338M | 443M | -192M | 71M | 608M | 616M | 91M | -301M | -59M |
| CapEx | 218M | 219M | 133M | 120M | 102M | 121M | 124M | 224M | 191M | 205M | 179M | 185M | 181M |
| Maint. CapEx | 154M | 164M | 193M | 258M | 274M | 287M | 278M | 279M | 288M | 298M | 298M | 403M | 414M |
| Growth CapEx | 64M | 55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 154M | 164M | 193M | 258M | 274M | 287M | 278M | 279M | 288M | 298M | 298M | 403M | 414M |
| CapEx/OCF | 34.1% | 40.7% | 49.6% | 71.4% | 16.2% | 16.2% | 137.8% | 56.6% | 19.8% | 21.6% | 44.3% | 128.5% | 44.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 434M | 174M | 174M | 174M | 238M | 306M | 121M | 241M | 483M | 453M | 151M | 0 | 0 |
| Dividend Yield | 28.4% | 11.7% | 21.1% | 18.5% | 12.7% | 11.8% | 9.4% | 19.7% | 21.4% | 16.7% | 4.9% | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 7.0M | 1.0M | 12M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.7% | 0.1% | 0.5% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 12M | 13M | 9.0M | 19M | 16M | 17M | 4.0M | 46M | 71M | 34M | 15M | 42M | 48M |
| Debt Repayment | 0 | 0 | 125M | 0 | 0 | 0 | 500M | 582M | 65M | 0 | 600M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -834M | -740M | 423M | 684M | 499M | 557M | 898M | 1.2B | 1.1B | 1.6B | 948M | 1.3B | 1.3B |
| Cash & Equiv. | 754M | 765M | 736M | 482M | 668M | 652M | 667M | 510M | 510M | 581M | 987M | 511M | 512M |
| Long-Term Debt | 674M | 541M | 1.2B | 1.2B | 1.2B | 1.2B | 1.7B | 1.7B | 1.6B | 1.6B | 1.9B | 1.8B | 1.8B |
| Debt/Equity | 0.68 | 0.80 | 1.36 | 1.27 | 0.91 | 0.87 | 1.67 | 3.03 | 3.02 | 2.60 | 2.75 | 2.44 | 3.32 |
| Interest Coverage | 6.6 | 8.7 | 0.8 | 1.3 | 5.2 | 5.7 | -2.6 | 0.7 | 10.4 | 12.5 | 0.5 | 1.3 | 2.5 |
| Equity | 988M | 984M | 858M | 919M | 1.3B | 1.4B | 1.0B | 553M | 531M | 847M | 703M | 730M | 538M |
| Total Assets | 3.5B | 3.3B | 4.0B | 3.8B | 4.0B | 3.9B | 4.0B | 3.9B | 4.1B | 4.7B | 4.3B | 3.7B | 3.9B |
| Total Liabilities | 1.8B | 1.7B | 592M | 2.1B | 2.1B | 2.2B | 2.8B | 3.1B | 3.3B | 3.7B | 3.4B | 2.8B | 41M |
| Intangibles | 200K | 200K | 200K | 200K | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -185M | -189M | -338M | -277M | -187M | -113M | -490M | -956M | -976M | -660M | -804M | -777M | -969M |
| Working Capital | 1.0B | 789M | 750M | 534M | 797M | 678M | 743M | 213M | 154M | 497M | 726M | 561M | 445M |
| Current Assets | 1.5B | 1.3B | 1.3B | 1.1B | 1.3B | 1.3B | 1.4B | 1.4B | 1.6B | 2.2B | 1.8B | 1.3B | 1.5B |
| Current Liabilities | 424M | 485M | 566M | 544M | 496M | 596M | 659M | 1.2B | 1.4B | 1.7B | 1.1B | 706M | 1.0B |
| Per Share Data | |||||||||||||
| EPS | 2.00 | 1.95 | 0.28 | 3.03 | 2.80 | 3.78 | -2.54 | 0.25 | 4.60 | 7.65 | 0.06 | 0.27 | -0.42 |
| Owner EPS | 5.45 | 4.14 | 0.74 | -0.37 | 3.65 | 4.41 | -1.91 | 0.71 | 6.04 | 6.13 | 0.78 | -3.01 | -0.59 |
| Book Value | 11.36 | 11.31 | 9.73 | 11.88 | 13.90 | 13.86 | 10.11 | 5.53 | 5.28 | 8.43 | 6.03 | 7.30 | 5.35 |
| Cash Flow/Share | 7.36 | 6.17 | 3.03 | 3.21 | 6.79 | 7.43 | 0.89 | 3.96 | 9.61 | 9.43 | 3.46 | 1.44 | 3.70 |
| Dividends/Share | 5.00 | 2.00 | 2.00 | 2.00 | 2.50 | 3.05 | 1.20 | 2.41 | 4.80 | 4.51 | 1.29 | 0.00 | 0.00 |
| Shares Out. | 87.0M | 87.0M | 88.2M | 77.4M | 92.5M | 100.5M | 100.8M | 100.0M | 100.7M | 100.5M | 116.7M | 100.0M | 100.6M |
| Valuation | |||||||||||||
| P/E Ratio | 8.3 | 8.8 | 42.0 | 7.4 | 6.8 | 6.5 | N/A | 48.2 | 5.4 | 3.8 | 307.8 | 96.4 | -80.1 |
| P/FCF | 3.4 | 4.7 | 7.7 | 12.1 | 3.4 | 4.0 | N/A | 7.0 | 3.2 | 3.9 | 9.6 | N/A | 15.2 |
| EV/EBIT | 2.3 | 1.8 | 8.0 | 18.2 | 3.0 | 4.1 | N/A | 21.1 | 3.2 | 4.0 | 36.0 | 18.3 | 27.6 |
| Price/Book | 1.5 | 1.5 | 1.2 | 1.9 | 1.4 | 1.8 | 0.9 | 2.2 | 4.7 | 3.4 | 3.1 | 3.6 | 6.3 |
| Price/Sales | 0.2 | 0.3 | 0.2 | 0.2 | 0.3 | 0.4 | 0.3 | 0.2 | 0.2 | 0.3 | 0.4 | 0.4 | 0.4 |
| FCF Yield | 29.3% | 21.3% | 12.9% | 7.3% | 29.7% | 25.3% | -3.6% | 14.3% | 31.0% | 25.5% | 10.4% | -1.6% | 6.6% |
| Market Cap | 1.4B | 1.5B | 1.0B | 1.7B | 1.8B | 2.5B | 943M | 1.2B | 2.5B | 2.9B | 2.2B | 2.6B | 3.4B |
| Avg. Price | 17.56 | 17.12 | 9.34 | 12.14 | 20.25 | 25.86 | 12.77 | 12.23 | 22.47 | 27.05 | 26.49 | 26.47 | 33.45 |
| Year-End Price | 16.53 | 17.20 | 11.77 | 20.10 | 19.15 | 24.63 | 9.35 | 12.04 | 24.84 | 29.01 | 18.47 | 26.02 | 33.45 |
CVR ENERGY INC passes 3 of 9 quality checks, indicating weak fundamentals.
CVR ENERGY INC trades at 123.9x trailing earnings, compared to its 15-year median P/E of 7.1x, suggesting it is currently Expensive relative to its historical range. The company's 5-year average ROIC is 21.8% with a gross margin of 11.2%. At current prices, the estimated annualized return to fair value is +1.1%.
CVR ENERGY INC (CVI) has a net profit margin of 0.4%. This is a modest margin.
CVR ENERGY INC (CVI) generated $-41 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
CVR ENERGY INC (CVI) has a debt-to-equity ratio of 2.44. This indicates higher leverage, which may increase financial risk.
CVR ENERGY INC (CVI) reported earnings per share (EPS) of $0.27 in its most recent fiscal year.
CVR ENERGY INC (CVI) has a return on equity (ROE) of 3.8%. This indicates moderate shareholder returns.
CVR ENERGY INC (CVI) has a 5-year average gross margin of 11.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for CVR ENERGY INC (CVI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CVR ENERGY INC (CVI) has a book value per share of $7.30, based on its most recent annual SEC filing.