A Business at a Glance
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CVR PARTNERS, LP
UAN
$1.3B
Mkt Cap
$123.06
-0.68%
CVR PARTNERS, LP (UAN) has a current P/E ratio of 13.2, compared to its historical median P/E of 5.8. The stock is currently considered Expensive based on its historical valuation range.
CVR PARTNERS, LP (UAN) has a 5-year average return on invested capital (ROIC) of 21.0%. This indicates strong capital allocation and a potential competitive advantage.
CVR PARTNERS, LP (UAN) has a market capitalization of $1.3B. It is classified as a small-cap stock.
CVR PARTNERS, LP (UAN) does not currently pay a regular dividend.
Based on historical P/E analysis, CVR PARTNERS, LP (UAN) appears expensive. The current P/E of 13.2 is 129% above its historical median of 5.8. The estimated fair value CAGR (P/E method) is 29.4%.
CVR PARTNERS, LP (UAN) operates in the Agricultural Chemicals industry, within the Materials sector.
CVR PARTNERS, LP (UAN) reported annual revenue of $606 million in its most recent fiscal year, based on SEC EDGAR filings.
CVR Partners, LP (“CVR Partners” or the “Partnership”) is a Delaware limited partnership formed in 2011 by CVR Energy, Inc. (together with its subsidiaries, but excluding the Partnership and its subsidiaries, “CVR Energy”) to own, operate and grow its nitrogen fertilizer business. The Partnership produces and distributes nitrogen fertilizer products, which are used by farmers to improve the yield and quality of their crops, primarily corn and wheat. The Partnership produces these products at two manufacturing facilities, one located in Coffeyville, Kansas operated by its wholly owned subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC (“CRNF”) (the “Coffeyville Facility”) and one located in East Dubuque, Illinois operated by its wholly owned subsidiary, East Dubuque Nitrogen Fertilizers, LLC (“EDNF”) (the “East Dubuque Facility”, and together with the Coffeyville Facility, the “Facilities”).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 643M | 606M | 525M | 681M | 836M | 533M |
| Net Income | 121M | 99M | 61M | 172M | 287M | 78M |
| EPS | $11.49 | $9.33 | $5.76 | $16.31 | $27.07 | $7.31 |
| Free Cash Flow | 112M | 99M | 113M | 219M | 257M | 168M |
| ROIC | 20.1% | 16.7% | 11.5% | 24.0% | 37.3% | 15.3% |
| Gross Margin | - | 27.0% | 22.6% | 34.1% | 42.2% | 30.4% |
| Debt/Equity | 1.83 | 2.14 | 1.94 | 1.81 | 1.33 | 1.78 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 152M | 129M | 90M | 201M | 320M | 134M |
| Operating Margin | 23.6% | 21.2% | 17.2% | 29.6% | 38.3% | 25.3% |
| ROE | 39.0% | 35.3% | 20.4% | 48.3% | 76.1% | 23.8% |
| Shares Outstanding | 11M | 11M | 11M | 11M | 11M | 11M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 299M | 289M | 356M | 331M | 351M | 404M | 350M | 533M | 836M | 681M | 525M | 606M | 643M |
| Gross Margin | 75.9% | 77.5% | 73.7% | 74.3% | 74.8% | 14.0% | 7.1% | 30.4% | 42.2% | 34.1% | 22.6% | 27.0% | 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 | 18M | 21M | 29M | 26M | 25M | 26M | 18M | 27M | 32M | 30M | 28M | 34M | 35M |
| EBIT | 83M | 69M | 25M | -10M | 6.3M | 27M | -35M | 134M | 320M | 201M | 90M | 129M | 152M |
| Op. Margin | 27.7% | 23.8% | 6.9% | -3.1% | 1.8% | 6.8% | -10.0% | 25.3% | 38.3% | 29.6% | 17.2% | 21.2% | 23.6% |
| Net Income | 76M | 62M | -27M | -73M | -50M | -35M | -98M | 78M | 287M | 172M | 61M | 99M | 121M |
| Net Margin | 25.5% | 21.5% | -7.6% | -22.0% | -14.2% | -8.7% | -28.1% | 14.7% | 34.3% | 25.3% | 11.6% | 16.3% | 18.9% |
| Non-Recurring | 0 | 0 | -220K | -70K | -390K | -3.4M | 40M | -948K | -263K | -1.5M | -100K | -1.1M | -1.1M |
| Returns on Capital | |||||||||||||
| ROIC | 21.8% | 16.7% | 3.0% | -0.9% | 0.6% | 2.6% | -9.8% | 15.3% | 37.3% | 24.0% | 11.5% | 16.7% | 20.1% |
| ROE | 18.4% | 16.1% | -5.3% | -12.4% | -9.5% | -7.6% | -26.8% | 23.8% | 76.1% | 48.3% | 20.4% | 35.3% | 39.0% |
| ROA | 13.2% | 11.6% | -2.9% | -5.7% | -4.0% | -2.9% | -9.0% | 7.2% | 25.8% | 16.6% | 6.1% | 9.9% | 11.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 119M | 78M | 45M | 10M | 32M | 39M | 20M | 189M | 301M | 244M | 151M | 150M | 170M |
| Free Cash Flow | 98M | 61M | 22M | -4.2M | 12M | 21M | 1.1M | 168M | 257M | 219M | 113M | 99M | 112M |
| Owner Earnings | 91M | 48M | -16M | -67M | -42M | -44M | -57M | 92M | 194M | 156M | 58M | 58M | 75M |
| CapEx | 21M | 17M | 23M | 15M | 20M | 19M | 19M | 21M | 45M | 24M | 37M | 51M | 58M |
| Maint. CapEx | 27M | 28M | 58M | 74M | 72M | 80M | 76M | 73M | 82M | 80M | 88M | 82M | 84M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 27M | 28M | 58M | 74M | 72M | 80M | 76M | 73M | 82M | 80M | 88M | 82M | 84M |
| CapEx/OCF | 17.7% | 21.7% | 51.7% | 140.0% | 61.4% | 47.6% | 94.2% | 10.9% | 14.8% | 9.9% | 24.6% | 33.9% | 34.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | 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 |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 7.1M | 529K | 12M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 8.5% | 0.1% | 2.0% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 157K | 2.0M | 2.8M | 3.0M | 3.0M | 3.4M | 1.0M | 23M | 25M | 8.2M | 4.9M | 9.8M | 11M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 582M | 65M | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -35M | 25M | 568M | 577M | 567M | 595M | 606M | 498M | 460M | 502M | 478M | 501M | 442M |
| Cash & Equiv. | 80M | 50M | 56M | 49M | 62M | 37M | 31M | 113M | 86M | 45M | 91M | 69M | 128M |
| Long-Term Debt | 125M | 125M | 623M | 626M | 629M | 632M | 634M | 611M | 547M | 547M | 568M | 569M | 569M |
| Debt/Equity | 0.30 | 0.32 | 1.00 | 1.14 | 1.26 | 1.51 | 2.02 | 1.78 | 1.33 | 1.81 | 1.94 | 2.14 | 1.83 |
| Interest Coverage | 12.2 | 10.0 | 0.5 | -0.2 | 0.1 | 0.4 | -0.5 | 2.2 | 9.4 | 7.0 | 391.1 | 53.7 | 53.7 |
| Equity | 414M | 386M | 625M | 550M | 500M | 420M | 314M | 342M | 412M | 303M | 293M | 266M | 312M |
| Total Assets | 579M | 536M | 1.3B | 1.2B | 1.3B | 1.1B | 1.0B | 1.1B | 1.1B | 975M | 1.0B | 969M | 1.0B |
| Total Liabilities | 165M | 151M | 687M | 684M | 755M | 718M | 719M | 785M | 689M | 672M | 726M | 704M | 2.7M |
| Intangibles | 41M | 41M | 41M | 41M | 41M | 41M | 0 | 0 | 0 | N/A | N/A | N/A | N/A |
| Retained Earnings | 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 |
| Working Capital | 90M | 73M | 72M | 62M | 71M | 49M | 42M | 100M | 140M | 90M | 122M | 117M | 173M |
| Current Assets | 130M | 99M | 135M | 118M | 194M | 125M | 118M | 262M | 266M | 166M | 234M | 214M | 271M |
| Current Liabilities | 40M | 26M | 63M | 56M | 123M | 76M | 76M | 162M | 126M | 75M | 111M | 97M | 99M |
| Per Share Data | |||||||||||||
| EPS | 10.40 | 8.50 | -2.60 | -6.40 | -44.20 | -30.90 | -87.70 | 7.31 | 27.07 | 16.31 | 5.76 | 9.33 | 11.49 |
| Owner EPS | 12.49 | 6.57 | -1.55 | -5.86 | -37.42 | -38.99 | -51.25 | 8.62 | 18.32 | 14.72 | 5.44 | 5.48 | 7.09 |
| Book Value | 56.53 | 52.82 | 60.31 | 48.35 | 441.61 | 370.73 | 280.70 | 32.01 | 38.87 | 28.65 | 27.72 | 25.13 | 29.49 |
| Cash Flow/Share | 16.24 | 10.74 | 4.34 | 0.91 | 28.48 | 34.60 | 17.63 | 17.65 | 28.45 | 23.03 | 14.24 | 14.15 | 19.42 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 7.3M | 7.3M | 10.4M | 11.4M | 1.1M | 1.1M | 1.1M | 10.7M | 10.6M | 10.6M | 10.6M | 10.6M | 10.6M |
| Valuation | |||||||||||||
| P/E Ratio | 3.1 | 3.6 | N/A | N/A | N/A | N/A | N/A | 5.8 | 2.1 | 3.3 | 11.4 | 10.4 | 10.7 |
| P/FCF | 2.4 | 3.6 | 12.3 | N/A | 1.3 | 0.8 | 7.3 | 2.7 | 2.4 | 2.6 | 6.1 | 10.4 | 11.6 |
| EV/EBIT | 2.4 | 3.6 | 29.2 | N/A | 105.0 | 26.3 | N/A | 6.2 | 3.1 | 5.1 | 12.0 | 11.3 | 11.5 |
| Price/Book | 0.6 | 0.6 | 0.4 | 0.3 | 0.3 | 0.4 | 0.3 | 1.3 | 1.5 | 1.9 | 2.4 | 3.9 | 4.2 |
| Price/Sales | 1.4 | 1.1 | 0.8 | 0.6 | 0.5 | 0.5 | 0.2 | 0.5 | 0.8 | 0.9 | 1.2 | 1.4 | 2.0 |
| FCF Yield | 41.3% | 27.7% | 8.1% | -2.5% | 7.9% | 12.7% | 1.4% | 37.4% | 41.7% | 38.7% | 16.3% | 9.6% | 8.6% |
| Market Cap | 237M | 222M | 267M | 165M | 158M | 161M | 84M | 450M | 617M | 567M | 694M | 1.0B | 1.3B |
| Avg. Price | 56.07 | 43.21 | 27.54 | 17.78 | 14.84 | 16.19 | 5.96 | 26.43 | 65.43 | 61.04 | 61.49 | 79.77 | 123.06 |
| Year-End Price | 32.33 | 30.42 | 25.75 | 14.51 | 13.87 | 14.25 | 7.47 | 42.08 | 58.19 | 53.62 | 65.65 | 96.88 | 123.06 |
CVR PARTNERS, LP passes 5 of 9 quality checks, suggesting mixed fundamentals.
CVR PARTNERS, LP trades at 13.2x trailing earnings, compared to its 15-year median P/E of 5.8x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.2x vs a median of 2.7x. The company's 5-year average ROIC is 21.0% with a gross margin of 31.3%. At current prices, the estimated annualized return to fair value is +58.7%.
CVR PARTNERS, LP (UAN) has a net profit margin of 16.3%. This is a healthy margin.
CVR PARTNERS, LP (UAN) generated $99 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CVR PARTNERS, LP (UAN) has a debt-to-equity ratio of 2.14. This indicates higher leverage, which may increase financial risk.
CVR PARTNERS, LP (UAN) reported earnings per share (EPS) of $9.33 in its most recent fiscal year.
CVR PARTNERS, LP (UAN) has a return on equity (ROE) of 35.3%. This indicates the company generates strong returns for shareholders.
CVR PARTNERS, LP (UAN) has a 5-year average gross margin of 31.3%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for CVR PARTNERS, LP (UAN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CVR PARTNERS, LP (UAN) has a book value per share of $25.13, based on its most recent annual SEC filing.