Icahn Enterprises (IEP) Financials

$8.57 +0.10 (+1.18%)

Closing price 05/23/2025 04:00 PM Eastern

Extended Trading

$8.59 +0.02 (+0.23%)

As of 05/23/2025 07:45 PM Eastern

Annual Income Statements for Icahn Enterprises

This table shows Icahn Enterprises' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	-445	-684	-183	-518	-1,653	-1,098	1,482	2,454	-1,128	-1,194
Consolidated Net Income / (Loss)	-542	-1,012	-25	-500	-2,468	-1,791	2,001	2,632	-2,220	-2,127
Net Income / (Loss) Continuing Operations	-542	-1,012	-25	-500	-2,468	-1,759	237	2,398	-2,285	-2,127
Total Pre-Tax Income	-567	-922	9.00	-578	-2,584	-1,739	223	1,866	-2,373	-2,059
Total Operating Income	-517	-1,012	257	172	-1,865	-1,134	193	2,521	-1,681	-905
Total Gross Profit	325	320	1,604	1,937	-149	789	2,230	4,399	542	2,531
Total Revenue	9,547	10,290	13,876	11,422	6,171	8,994	11,223	12,619	7,379	15,272
Operating Revenue	8,840	9,520	13,128	10,775	5,563	8,994	10,576	12,619	7,379	13,886
Other Revenue	707	770	748	647	608	-	647	-	-	1,386
Total Cost of Revenue	9,222	9,970	12,272	9,485	6,320	8,205	8,993	8,220	6,837	12,741
Operating Cost of Revenue	8,619	9,327	11,689	9,485	6,320	8,205	8,993	8,220	6,837	12,741
Other Cost of Revenue	603	643	583	-	-	-	-	-	-	-
Total Operating Expenses	842	1,332	1,347	1,765	1,716	1,923	2,037	1,878	2,223	3,436
Selling, General & Admin Expense	783	852	1,250	1,238	1,191	1,375	1,386	1,269	1,632	2,551
Other Operating Expenses / (Income)	56	472	95	522	487	528	538	518	-	-
Impairment Charge	0.00	7.00	0.00	0.00	11	2.00	92	87	586	788
Restructuring Charge	3.00	1.00	2.00	5.00	10	18	21	4.00	5.00	97
Total Other Income / (Expense), net	-50	90	-248	-750	-719	-605	30	-655	-692	-1,154
Interest Expense	523	554	568	666	688	605	524	655	692	1,154
Interest & Investment Income	477	636	328	-	-	-	470	-	-	-
Other Income / (Expense), net	-4.00	8.00	-8.00	-84	-31	-	84	-	-	-
Income Tax Expense	-25	90	34	-78	-116	20	-14	-532	-88	68
Net Income / (Loss) Attributable to Noncontrolling Interest	-97	-328	158	18	-815	-693	519	178	-1,092	-933
Basic Earnings per Share	($0.94)	($1.75)	($0.57)	($2.32)	($7.33)	($5.38)	$11.33	$14.94	($8.07)	($9.29)
Weighted Average Basic Shares Outstanding	466M	382M	316M	260M	221M	200M	180M	161M	137M	126M
Diluted Earnings per Share	($0.94)	($1.75)	($0.57)	($2.32)	($7.33)	($5.38)	$11.33	$14.94	($8.07)	($9.29)
Weighted Average Diluted Shares Outstanding	466M	382M	316M	260M	221M	200M	180M	161M	137M	126M
Weighted Average Basic & Diluted Shares Outstanding	466M	382M	316M	260M	221M	200M	180M	161M	137M	126M
Cash Dividends to Common per Share	$3.50	$6.00	$8.00	$8.00	$8.00	$8.00	$7.00	$6.00	$6.00	$6.00

This table shows Icahn Enterprises' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-422	-98	22	-331	-38	-139	-6.00	-269	-270	-255	-123
Consolidated Net Income / (Loss)	-580	-110	80	-486	-26	-205	-30	-419	-358	-408	-215
Net Income / (Loss) Continuing Operations	-580	-110	80	-486	-26	-198	-30	-426	-358	-408	-215
Total Pre-Tax Income	-654	-133	67	-482	-19	-197	66	-417	-374	-467	-222
Total Operating Income	-606	-244	83	-354	-2.00	-429	69	-281	-371	-1,284	44
Total Gross Profit	-380	-315	299	-3.00	344	-494	323	249	242	-1,299	505
Total Revenue	1,787	2,338	2,677	2,201	2,331	2,364	2,865	2,559	2,502	2,235	3,531
Operating Revenue	1,619	2,197	2,485	2,010	2,148	2,182	2,662	2,361	2,315	2,049	3,334
Other Revenue	168	141	192	191	183	182	203	198	187	186	197
Total Cost of Revenue	2,167	2,653	2,378	2,204	1,987	2,858	2,542	2,310	2,260	3,534	3,026
Operating Cost of Revenue	2,016	2,205	2,223	2,204	1,987	2,380	2,377	2,310	2,260	2,951	3,026
Other Cost of Revenue	151	-	155	-	-	-	165	-	-	-	-
Total Operating Expenses	226	-71	216	351	346	-65	254	530	613	-15	461
Selling, General & Admin Expense	201	205	202	183	193	199	209	215	229	329	305
Other Operating Expenses / (Income)	8.00	-278	14	167	153	-271	44	315	384	-346	156
Impairment Charge	10	-	-	-	-	-	-	-	-	-	-
Restructuring Charge	7.00	-	0.00	1.00	-	-	1.00	0.00	-	-	0.00
Total Other Income / (Expense), net	-48	115	-16	-132	-17	239	-3.00	-143	-3.00	817	-266
Interest Expense	128	129	130	128	136	128	148	136	142	144	139
Interest & Investment Income	83	-	115	-	143	-	143	-	171	819	-99
Other Income / (Expense), net	-3.00	25	-1.00	-4.00	-24	45	2.00	-7.00	-32	142	-28
Income Tax Expense	-74	-23	-13	4.00	7.00	8.00	96	2.00	-16	-59	-7.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-158	-12	58	-155	12	-66	-24	-150	-88	-153	-92
Basic Earnings per Share	($0.79)	($0.18)	$0.05	($0.72)	($0.09)	($0.27)	($0.01)	($0.72)	($0.75)	($0.87)	($0.37)
Weighted Average Basic Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Diluted Earnings per Share	($0.79)	($0.18)	$0.05	($0.72)	($0.09)	($0.27)	($0.01)	($0.72)	($0.75)	($0.85)	($0.37)
Weighted Average Diluted Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Weighted Average Basic & Diluted Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Cash Dividends to Common per Share	$0.50	$0.50	$1.00	$1.00	$1.00	$1.00	$1.00	$2.00	$2.00	$2.00	$2.00

This table details how cash moves in and out of Icahn Enterprises' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-707	1,060	450	1,145	-1,654	-393	3,427	27	-734	-830
Net Cash From Operating Activities	832	3,736	1,055	321	-416	-1,460	923	-1,348	1,218	748
Net Cash From Continuing Operating Activities	832	3,736	1,055	321	-416	-1,460	444	-2,042	379	748
Net Income / (Loss) Continuing Operations	-542	-1,012	-25	-500	-2,468	-1,759	237	2,398	-2,285	-2,127
Consolidated Net Income / (Loss)	-542	-1,012	-25	-500	-2,468	-1,791	2,001	2,632	-2,220	-2,127
Depreciation Expense	511	518	509	517	510	519	508	518	526	863
Non-Cash Adjustments To Reconcile Net Income	996	3,494	972	-59	1,794	-1,758	1,236	-4,277	1,312	2,612
Changes in Operating Assets and Liabilities, net	-133	736	-401	363	-252	1,538	-1,537	-681	826	-600
Net Cash From Investing Activities	-215	-290	-260	528	-581	586	2,587	682	-1,845	-2,385
Net Cash From Continuing Investing Activities	-215	-290	-260	528	-581	586	3,024	1,262	-1,252	-2,385
Purchase of Property, Plant & Equipment	-280	-303	-338	-305	-199	-250	-272	-316	-247	-1,359
Acquisitions	-2.00	-20	0.00	-20	-8.00	-39	-15	-249	-1,009	-855
Divestitures	93	33	4.00	414	25	505	3,370	1,983	31	90
Sale and/or Maturity of Investments	0.00	0.00	153	445	98	458	1.00	1.00	-	-
Other Investing Activities, net	-26	0.00	-79	-6.00	-160	-38	0.00	-80	-27	84
Net Cash From Financing Activities	-1,323	-2,385	-344	293	-653	566	-157	369	58	826
Net Cash From Continuing Financing Activities	-1,323	-2,385	-344	293	-653	566	6.00	630	290	826
Repayment of Debt	-2,046	-1,285	-716	-2,760	-3,018	-2,554	-1,346	-3,881	-1,941	-992
Payment of Dividends	-997	-2,825	-519	-240	-562	-231	-236	-156	-176	-368
Issuance of Debt	1,628	1,382	115	2,379	2,812	3,317	1,283	3,804	1,908	1,972
Issuance of Common Equity	1.00	0.00	9.00	79	13	220	310	600	-	-
Other Financing Activities, net	91	343	767	835	102	-186	-5.00	263	499	271
Effect of Exchange Rate Changes	-1.00	-1.00	-1.00	3.00	-4.00	-2.00	-7.00	3.00	0.00	-7.00

This table details how cash moves in and out of Icahn Enterprises' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-364	505	-926	627	-913	-166	1,026	-3.00	203	-2,324	541
Net Cash From Operating Activities	-182	244	-54	893	-251	115	1,627	1,729	265	-2,285	711
Net Cash From Continuing Operating Activities	-182	244	-54	893	-251	115	1,627	1,729	265	-2,285	711
Net Income / (Loss) Continuing Operations	-580	-110	80	-486	-26	-205	-30	-419	-358	-408	-215
Consolidated Net Income / (Loss)	-580	-110	80	-486	-26	-205	-30	-419	-358	-408	-215
Depreciation Expense	118	129	126	127	129	134	133	129	122	129	131
Non-Cash Adjustments To Reconcile Net Income	268	172	-135	1,069	-110	179	1,524	1,552	239	-2,418	1,473
Changes in Operating Assets and Liabilities, net	12	53	-125	183	-244	7.00	-	467	262	412	-678
Net Cash From Investing Activities	-118	11	-59	-92	-75	-209	92	-110	-63	-89	-102
Net Cash From Continuing Investing Activities	-118	11	-59	-92	-75	-209	92	-110	-63	-89	-102
Purchase of Property, Plant & Equipment	-88	-88	-58	-66	-68	-102	-70	-73	-58	-84	-100
Divestitures	6.00	84	1.00	3.00	5.00	9.00	4.00	1.00	19	-	2.00
Other Investing Activities, net	-36	15	-2.00	-27	-12	62	-	-38	-24	-5.00	-5.00
Net Cash From Financing Activities	-65	250	-815	-171	-587	-71	-693	-1,622	1.00	59	-70
Net Cash From Continuing Financing Activities	-65	250	-815	-171	-587	-71	-693	-1,622	1.00	59	-70
Repayment of Debt	-18	-500	-175	-760	-611	-1,218	-16	-30	-21	-56	-22
Payment of Dividends	-12	-78	-649	-237	-33	-357	-681	-1,702	-85	-119	-236
Issuance of Debt	0.00	840	5.00	776	7.00	1,346	4.00	16	16	24	25
Other Financing Activities, net	-35	-12	4.00	49	50	158	-	94	91	207	162
Effect of Exchange Rate Changes	1.00	-	2.00	-	-	-1.00	-	-	-	-9.00	2.00

This table presents Icahn Enterprises' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	16,279	20,858	27,914	27,746	24,989	24,639	23,489	31,801	33,371	36,407
Total Current Assets	8,264	11,845	14,074	6,460	8,809	7,223	16,592	4,620	8,711	7,304
Cash & Equivalents	2,603	2,951	2,337	2,321	1,679	3,794	2,656	1,164	1,833	2,078
Restricted Cash	2,636	2,995	2,549	2,115	1,612	1,151	2,682	747	804	1,282
Accounts Receivable	479	485	606	546	501	483	474	473	1,609	1,685
Inventories, net	897	1,047	1,531	1,478	1,580	1,795	1,779	1,730	2,983	2,259
Other Current Assets	1,624	4,367	7,051	-	3,437	-	664	506	1,482	-
Other Current Nonoperating Assets	25	0.00	-	-	-	-	-	-	-	-
Plant, Property, & Equipment, net	3,843	3,969	4,038	4,085	4,228	4,454	4,688	5,186	10,122	9,535
Total Noncurrent Assets	4,172	5,044	9,802	17,201	11,952	12,962	2,209	21,995	14,538	19,568
Noncurrent Note & Lease Receivables	7.00	11	0.00	-	-	-	-	-	-	-
Goodwill	288	288	288	290	294	282	247	327	1,136	1,504
Intangible Assets	409	466	533	595	660	431	501	544	1,116	1,108
Noncurrent Deferred & Refundable Income Taxes	160	184	127	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	3,308	4,095	8,854	16,316	10,998	12,249	1,461	21,124	12,286	16,956
Total Liabilities & Shareholders' Equity	16,279	20,858	27,914	27,746	24,989	24,639	23,489	31,801	33,371	36,407
Total Liabilities	11,658	14,785	18,356	18,403	15,731	13,697	10,509	20,433	25,354	26,374
Total Current Liabilities	4,518	7,179	10,922	10,321	7,104	3,642	2,489	5,319	9,663	11,350
Accounts Payable	802	830	870	805	738	945	832	980	1,765	1,416
Accrued Expenses	1,547	1,596	1,981	1,778	1,588	1,453	1,012	984	1,895	1,823
Other Current Liabilities	2,169	4,753	8,071	6,951	4,778	1,244	609	2,080	4,864	8,111
Total Noncurrent Liabilities	7,140	7,606	7,434	8,082	8,627	10,055	8,020	15,114	15,691	15,024
Long-Term Debt	6,809	7,207	7,096	7,692	8,059	8,192	7,326	7,372	11,119	12,594
Noncurrent Deferred & Payable Income Tax Liabilities	331	399	338	390	568	639	694	732	1,613	1,201
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,621	6,073	9,558	9,343	9,258	10,942	12,980	11,368	8,017	10,033
Total Preferred & Common Equity	2,466	3,208	3,900	3,544	3,383	5,456	6,560	5,106	2,154	3,987
Total Common Equity	2,466	3,208	3,900	3,544	3,383	5,456	6,560	5,106	2,154	3,987
Common Stock	2,466	3,208	3,900	3,544	3,383	5,456	6,560	5,106	2,154	3,987
Noncontrolling Interest	2,155	2,865	5,658	5,799	5,875	5,486	6,420	6,262	5,863	6,046

This table presents Icahn Enterprises' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	15,481	17,443	17,988	20,064	21,757	22,214	26,269	27,520
Total Current Assets	6,403	9,069	9,840	10,840	12,391	10,815	6,713	15,241
Cash & Equivalents	2,183	2,294	2,218	2,468	2,890	2,488	2,608	2,432
Restricted Cash	2,692	2,440	3,442	2,565	3,222	2,598	2,481	4,778
Accounts Receivable	503	476	494	447	517	495	527	610
Inventories, net	1,000	883	970	1,039	1,085	1,015	1,097	1,674
Other Current Nonoperating Assets	25	-	-	-	-	-	-	-
Plant, Property, & Equipment, net	3,824	3,865	3,909	3,940	3,937	3,959	3,986	4,057
Total Noncurrent Assets	5,254	4,509	4,239	5,284	5,429	7,440	15,363	8,222
Goodwill	288	289	288	288	288	288	288	286
Intangible Assets	395	423	437	452	487	502	517	547
Noncurrent Deferred & Refundable Income Taxes	179	168	162	190	171	184	-	-
Other Noncurrent Operating Assets	4,392	3,622	3,345	4,343	4,424	6,384	14,558	7,389
Total Liabilities & Shareholders' Equity	15,481	17,443	17,988	20,064	21,757	22,214	26,269	27,520
Total Liabilities	11,739	12,616	12,602	14,439	15,129	15,027	17,773	17,653
Total Current Liabilities	4,667	5,800	5,636	7,441	7,700	7,595	10,346	10,182
Short-Term Debt	912	-	-	-	-	-	608	-
Accounts Payable	870	679	747	795	819	723	774	1,007
Accrued Expenses	1,952	1,660	1,559	2,044	1,926	1,878	2,646	2,019
Other Current Liabilities	933	3,461	3,330	4,602	4,955	4,994	6,318	7,156
Total Noncurrent Liabilities	7,072	6,816	6,966	6,998	7,429	7,432	7,427	7,471
Long-Term Debt	6,794	6,447	6,625	6,608	7,075	7,078	7,091	7,127
Noncurrent Deferred & Payable Income Tax Liabilities	278	369	341	390	354	354	336	344
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,742	4,827	5,386	5,625	6,628	7,187	8,496	9,867
Total Preferred & Common Equity	1,774	2,645	2,727	2,781	3,453	3,396	3,091	4,003
Total Common Equity	1,774	2,645	2,727	2,781	3,453	3,396	3,091	4,003
Common Stock	1,774	2,645	2,727	2,781	3,453	3,396	3,091	4,003
Noncontrolling Interest	1,968	2,182	2,659	2,844	3,175	3,791	5,405	5,864

This table displays calculated financial ratios and metrics derived from Icahn Enterprises' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.22%	-25.84%	21.48%	85.09%	-31.39%	-19.86%	-11.06%	71.01%	-51.68%	-20.28%
EBITDA Growth	97.94%	-164.12%	25.29%	143.65%	-125.37%	-178.34%	-74.17%	363.12%	-2,650.00%	-104.10%
EBIT Growth	48.11%	-503.21%	182.95%	104.64%	-67.20%	-509.39%	-89.01%	249.97%	-85.75%	-520.93%
NOPAT Growth	48.91%	0.77%	-692.93%	109.22%	-64.46%	-487.00%	-93.67%	375.32%	-85.75%	-520.93%
Net Income Growth	46.44%	-3,948.00%	95.00%	79.74%	-37.80%	-189.51%	-23.97%	218.56%	-4.37%	-302.08%
EPS Growth	46.29%	-207.02%	75.43%	68.35%	-36.25%	-147.48%	-24.16%	285.13%	13.13%	-201.62%
Operating Cash Flow Growth	-77.73%	254.12%	228.66%	177.16%	71.51%	-258.18%	168.47%	-210.67%	62.83%	291.79%
Free Cash Flow Firm Growth	-78.36%	312.07%	18.90%	166.56%	86.26%	-171.43%	319.73%	513.25%	267.83%	49.58%
Invested Capital Growth	-15.93%	-37.68%	-12.09%	-4.56%	-1.15%	112.82%	-63.17%	2.64%	-8.45%	-1.85%
Revenue Q/Q Growth	-0.27%	1.27%	-7.46%	4.86%	9.16%	5.60%	19.80%	63.88%	-50.56%	-4.76%
EBITDA Q/Q Growth	94.12%	61.09%	-64.40%	-37.89%	37.90%	40.58%	-37.94%	27.31%	39.72%	-105.56%
EBIT Q/Q Growth	24.05%	43.02%	-84.60%	-80.79%	30.83%	26.79%	-64.03%	14.18%	41.85%	-862.77%
NOPAT Q/Q Growth	26.35%	45.80%	-157.55%	-76.09%	31.96%	38.54%	-61.95%	46.73%	41.85%	-862.77%
Net Income Q/Q Growth	14.91%	16.71%	94.36%	-171.43%	17.71%	-285.99%	87.18%	42.97%	41.61%	-94.42%
EPS Q/Q Growth	8.74%	24.89%	64.60%	0.00%	0.00%	0.00%	123.91%	27.91%	48.50%	-108.76%
Operating Cash Flow Q/Q Growth	18.35%	179.64%	-70.65%	129.89%	-136.75%	-14.42%	996.12%	-32.42%	-21.92%	1.22%
Free Cash Flow Firm Q/Q Growth	44.05%	320.45%	-80.71%	989.95%	-248.32%	-402.23%	2,121.78%	129.13%	-96.01%	-544.74%
Invested Capital Q/Q Growth	-5.72%	-3.39%	20.28%	1.17%	10.95%	-7.45%	-65.59%	-6.48%	131.20%	-8.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	3.40%	3.11%	11.56%	16.96%	-2.41%	8.77%	19.87%	34.86%	7.35%	16.57%
EBITDA Margin	-0.10%	-4.72%	5.46%	5.30%	-22.46%	-6.84%	6.99%	24.08%	-15.65%	-0.28%
Operating Margin	-5.42%	-9.83%	1.85%	1.51%	-30.22%	-12.61%	1.72%	19.98%	-22.78%	-5.93%
EBIT Margin	-5.46%	-9.76%	1.79%	0.77%	-30.72%	-12.61%	2.47%	19.98%	-22.78%	-5.93%
Profit (Net Income) Margin	-5.68%	-9.83%	-0.18%	-4.38%	-39.99%	-19.91%	17.83%	20.86%	-30.09%	-13.93%
Tax Burden Percent	95.59%	109.76%	-277.78%	86.51%	95.51%	102.99%	897.31%	141.05%	93.55%	103.30%
Interest Burden Percent	108.83%	91.83%	3.61%	-656.82%	136.29%	153.35%	80.51%	74.02%	141.17%	227.51%
Effective Tax Rate	0.00%	0.00%	377.78%	0.00%	0.00%	0.00%	-6.28%	-28.51%	0.00%	0.00%
Return on Invested Capital (ROIC)	-5.36%	-7.42%	-5.68%	0.88%	-9.25%	-7.61%	1.66%	18.13%	-6.38%	-3.26%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.20%	-24.91%	16.36%	-13.20%	-38.26%	57.44%	850.77%	10.70%	-17.44%	-21.39%
Return on Net Nonoperating Assets (RNNOA)	-4.78%	-5.53%	5.41%	-6.25%	-15.18%	-7.36%	14.78%	9.03%	-18.22%	-15.71%
Return on Equity (ROE)	-10.14%	-12.95%	-0.26%	-5.38%	-24.44%	-14.97%	16.44%	27.16%	-24.60%	-18.97%
Cash Return on Invested Capital (CROIC)	11.94%	39.01%	7.19%	5.55%	-8.10%	-79.74%	94.00%	15.52%	2.45%	-1.39%
Operating Return on Assets (OROA)	-2.81%	-4.12%	0.89%	0.33%	-7.64%	-4.71%	1.00%	7.74%	-4.82%	-2.51%
Return on Assets (ROA)	-2.92%	-4.15%	-0.09%	-1.90%	-9.95%	-7.44%	7.24%	8.08%	-6.36%	-5.89%
Return on Common Equity (ROCE)	-5.38%	-5.89%	-0.10%	-2.00%	-10.69%	-7.52%	7.88%	10.17%	-8.37%	-7.98%
Return on Equity Simple (ROE_SIMPLE)	-21.98%	-31.55%	-0.64%	-14.11%	-72.95%	-32.83%	30.50%	51.55%	-103.06%	-53.35%
Net Operating Profit after Tax (NOPAT)	-362	-708	-714	120	-1,306	-794	205	3,240	-1,177	-634
NOPAT Margin	-3.79%	-6.88%	-5.14%	1.05%	-21.16%	-8.83%	1.83%	25.67%	-15.95%	-4.15%
Net Nonoperating Expense Percent (NNEP)	12.84%	17.49%	-22.03%	14.08%	29.01%	-65.05%	-849.12%	7.43%	11.07%	18.13%
Return On Investment Capital (ROIC_SIMPLE)	-3.17%	-5.33%	-4.29%	0.68%	-7.54%	-4.15%	1.01%	16.19%	-5.80%	-2.80%
Cost of Revenue to Revenue	96.60%	96.89%	88.44%	83.04%	102.41%	91.23%	80.13%	65.14%	92.65%	83.43%
SG&A Expenses to Revenue	8.20%	8.28%	9.01%	10.84%	19.30%	15.29%	12.35%	10.06%	22.12%	16.70%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.82%	12.94%	9.71%	15.45%	27.81%	21.38%	18.15%	14.88%	30.13%	22.50%
Earnings before Interest and Taxes (EBIT)	-521	-1,004	249	88	-1,896	-1,134	277	2,521	-1,681	-905
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-10	-486	758	605	-1,386	-615	785	3,039	-1,155	-42
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.56	1.58	2.60	1.98	1.57	0.91	0.57	0.55	1.12	0.51
Price to Tangible Book Value (P/TBV)	2.17	2.06	3.30	2.64	2.18	1.05	0.64	0.66	0.00	1.48
Price to Revenue (P/Rev)	0.40	0.49	0.73	0.62	0.86	0.55	0.33	0.22	0.33	0.13
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	2.51	1.14	0.00	0.00
Dividend Yield	42.49%	45.32%	24.91%	36.98%	33.39%	32.20%	33.93%	34.61%	34.20%	37.21%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	39.91%	87.91%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.23	1.25	1.53	1.26	1.14	0.97	0.57	0.87	1.01	0.90
Enterprise Value to Revenue (EV/Rev)	0.79	0.89	1.30	1.48	2.58	1.52	0.34	1.25	2.42	1.13
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	23.77	27.89	0.00	0.00	4.87	5.20	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	72.36	191.74	0.00	0.00	13.79	6.26	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	140.15	0.00	0.00	18.62	4.87	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.09	2.46	17.08	52.57	0.00	0.00	4.14	0.00	14.69	23.14
Enterprise Value to Free Cash Flow (EV/FCFF)	9.38	2.47	19.93	22.19	0.00	0.00	0.33	5.69	39.55	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.47	1.19	0.74	0.91	0.87	0.75	0.57	0.76	1.53	1.26
Long-Term Debt to Equity	1.47	1.19	0.74	0.82	0.87	0.75	0.56	0.65	1.39	1.26
Financial Leverage	0.26	0.22	0.33	0.47	0.40	-0.13	0.02	0.84	1.04	0.73
Leverage Ratio	3.47	3.12	2.94	2.84	2.46	2.01	2.27	3.36	3.87	3.22
Compound Leverage Factor	3.78	2.87	0.11	-18.62	3.35	3.09	1.83	2.49	5.46	7.33
Debt to Total Capital	59.57%	54.27%	42.61%	47.58%	46.54%	42.81%	36.19%	43.20%	60.46%	55.66%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	4.42%	0.00%	0.00%	0.18%	6.37%	5.62%	0.00%
Long-Term Debt to Total Capital	59.57%	54.27%	42.61%	43.16%	46.54%	42.81%	36.01%	36.83%	54.84%	55.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	18.85%	21.57%	33.97%	32.54%	33.93%	28.67%	31.56%	31.29%	28.92%	26.72%
Common Equity to Total Capital	21.57%	24.16%	23.42%	19.89%	19.54%	28.51%	32.25%	25.51%	10.62%	17.62%
Debt to EBITDA	-680.90	-14.83	9.36	14.01	-5.81	-13.32	9.38	2.85	-10.61	-299.86
Net Debt to EBITDA	-157.00	-2.59	2.92	6.68	-3.44	-5.28	-8.04	2.22	-8.33	-219.86
Long-Term Debt to EBITDA	-680.90	-14.83	9.36	12.71	-5.81	-13.32	9.33	2.43	-9.63	-299.86
Debt to NOPAT	-18.81	-10.17	-9.94	70.42	-6.17	-10.32	35.89	2.67	-10.42	-19.88
Net Debt to NOPAT	-4.34	-1.78	-3.10	33.58	-3.65	-4.09	-30.78	2.08	-8.18	-14.58
Long-Term Debt to NOPAT	-18.81	-10.17	-9.94	63.89	-6.17	-10.32	35.72	2.28	-9.45	-19.88
Altman Z-Score	0.95	0.81	0.99	0.48	0.28	0.61	1.45	0.71	0.08	0.25
Noncontrolling Interest Sharing Ratio	46.94%	54.53%	60.62%	62.76%	56.24%	49.77%	52.09%	62.55%	65.98%	57.95%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.83	1.65	1.29	0.63	1.24	1.98	6.67	0.87	0.90	0.64
Quick Ratio	0.68	0.48	0.27	0.28	0.31	1.17	4.61	0.31	0.36	0.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	806	3,726	904	760	-1,143	-8,316	11,642	2,774	452	-270
Operating Cash Flow to CapEx	297.14%	1,233.00%	312.13%	105.25%	-209.05%	-584.00%	339.34%	-426.58%	493.12%	55.04%
Free Cash Flow to Firm to Interest Expense	1.54	6.72	1.59	1.14	-1.66	-13.75	22.22	4.23	0.65	-0.23
Operating Cash Flow to Interest Expense	1.59	6.74	1.86	0.48	-0.60	-2.41	1.76	-2.06	1.76	0.65
Operating Cash Flow Less CapEx to Interest Expense	1.06	6.20	1.26	0.02	-0.89	-2.83	1.24	-2.54	1.40	-0.53
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.42	0.50	0.43	0.25	0.37	0.41	0.39	0.21	0.42
Accounts Receivable Turnover	19.81	18.86	24.09	21.82	12.54	18.80	23.70	12.12	4.48	9.05
Inventory Turnover	9.49	7.73	8.16	6.20	3.75	4.59	5.13	3.49	2.61	6.16
Fixed Asset Turnover	2.44	2.57	3.42	2.75	1.42	1.97	2.27	1.65	0.75	1.66
Accounts Payable Turnover	11.30	11.73	14.65	12.29	7.51	9.23	9.93	5.99	4.30	9.09
Days Sales Outstanding (DSO)	18.43	19.35	15.15	16.73	29.10	19.42	15.40	30.11	81.47	40.34
Days Inventory Outstanding (DIO)	38.47	47.19	44.75	58.84	97.46	79.49	71.21	104.64	139.92	59.27
Days Payable Outstanding (DPO)	32.30	31.12	24.91	29.69	48.60	39.53	36.77	60.94	84.91	40.15
Cash Conversion Cycle (CCC)	24.60	35.42	34.99	45.88	77.96	59.39	49.84	73.80	136.48	59.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,166	7,334	11,768	13,386	14,026	14,189	6,667	18,104	17,638	19,267
Invested Capital Turnover	1.41	1.08	1.10	0.83	0.44	0.86	0.91	0.71	0.40	0.79
Increase / (Decrease) in Invested Capital	-1,168	-4,434	-1,618	-640	-163	7,522	-11,437	466	-1,629	-364
Enterprise Value (EV)	7,563	9,184	18,017	16,874	15,939	13,702	3,820	15,789	17,888	17,312
Market Capitalization	3,838	5,058	10,149	7,032	5,296	4,969	3,713	2,791	2,404	2,032
Book Value per Share	$4.89	$7.81	$11.56	$12.72	$14.58	$26.30	$35.15	$30.20	$15.20	$30.92
Tangible Book Value per Share	$3.51	$5.97	$9.12	$9.54	$10.47	$22.86	$31.14	$25.05	($0.69)	$10.66
Total Capital	11,430	13,280	16,654	17,822	17,317	19,134	20,342	20,015	20,275	22,627
Total Debt	6,809	7,207	7,096	8,479	8,059	8,192	7,362	8,647	12,258	12,594
Total Long-Term Debt	6,809	7,207	7,096	7,692	8,059	8,192	7,326	7,372	11,119	12,594
Net Debt	1,570	1,261	2,210	4,043	4,768	3,247	-6,313	6,736	9,621	9,234
Capital Expenditures (CapEx)	280	303	338	305	199	250	272	316	247	1,359
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,493	-1,280	-1,734	-7,510	-1,586	-1,364	464	-1,335	-2,450	-7,406
Debt-free Net Working Capital (DFNWC)	3,746	4,666	3,152	-3,074	1,705	3,581	14,139	576	187	-4,046
Net Working Capital (NWC)	3,746	4,666	3,152	-3,861	1,705	3,581	14,103	-699	-952	-4,046
Net Nonoperating Expense (NNE)	180	304	-689	620	1,163	997	-1,796	608	1,043	1,494
Net Nonoperating Obligations (NNO)	1,545	1,261	2,210	4,043	4,768	3,247	-6,313	6,736	9,621	9,234
Total Depreciation and Amortization (D&A)	511	518	509	517	510	519	508	518	526	863
Debt-free, Cash-free Net Working Capital to Revenue	-15.64%	-12.44%	-12.50%	-65.75%	-25.70%	-15.17%	4.13%	-10.58%	-33.20%	-48.49%
Debt-free Net Working Capital to Revenue	39.24%	45.35%	22.72%	-26.91%	27.63%	39.82%	125.98%	4.56%	2.53%	-26.49%
Net Working Capital to Revenue	39.24%	45.35%	22.72%	-33.80%	27.63%	39.82%	125.66%	-5.54%	-12.90%	-26.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.94)	($1.75)	$0.00	$0.00	($7.33)	($5.38)	$11.46	$14.80	($8.07)	($9.29)
Adjusted Weighted Average Basic Shares Outstanding	466M	382M	0.00	0.00	241.34M	200M	180M	161M	137M	126M
Adjusted Diluted Earnings per Share	($0.94)	($1.75)	$0.00	$0.00	($7.33)	($5.38)	$11.46	$14.80	($8.07)	($9.29)
Adjusted Weighted Average Diluted Shares Outstanding	466M	382M	0.00	0.00	241.34M	200M	180M	161M	137M	126M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($7.33)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	466M	382M	0.00	0.00	221M	200M	180M	161M	137M	131.48M
Normalized Net Operating Profit after Tax (NOPAT)	-360	-703	181	124	-1,279	-780	214	1,828	-763	-14
Normalized NOPAT Margin	-3.77%	-6.83%	1.31%	1.08%	-20.72%	-8.67%	1.91%	14.49%	-10.34%	-0.09%
Pre Tax Income Margin	-5.94%	-8.96%	0.06%	-5.06%	-41.87%	-19.34%	1.99%	14.79%	-32.16%	-13.48%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.00	-1.81	0.44	0.13	-2.76	-1.87	0.53	3.85	-2.43	-0.78
NOPAT to Interest Expense	-0.69	-1.28	-1.26	0.18	-1.90	-1.31	0.39	4.95	-1.70	-0.55
EBIT Less CapEx to Interest Expense	-1.53	-2.36	-0.16	-0.33	-3.05	-2.29	0.01	3.37	-2.79	-1.96
NOPAT Less CapEx to Interest Expense	-1.23	-1.83	-1.85	-0.28	-2.19	-1.73	-0.13	4.46	-2.06	-1.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-183.95%	-279.15%	-2,076.00%	-48.00%	-22.77%	-12.90%	11.79%	5.93%	-7.93%	-17.30%
Augmented Payout Ratio	-183.95%	-279.15%	-2,076.00%	-48.00%	-22.77%	-12.90%	11.79%	5.93%	-7.93%	-19.98%

This table displays calculated financial ratios and metrics derived from Icahn Enterprises' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-23.40%	-1.10%	-6.56%	-13.99%	-6.83%	5.77%	-18.86%	-35.91%	-39.23%	-33.36%	31.66%
EBITDA Growth	-576.70%	64.00%	1.96%	-45.28%	136.65%	75.32%	38.78%	-141.30%	-122.68%	-382.96%	172.22%
EBIT Growth	-2,242.31%	42.97%	15.49%	-24.31%	93.55%	66.37%	343.75%	-211.63%	-136.08%	-605.31%	122.22%
NOPAT Growth	-2,930.00%	43.12%	415.99%	-25.98%	99.46%	66.59%	-201.83%	-178.93%	-125.28%	-655.84%	212.82%
Net Income Growth	-2,130.77%	46.34%	366.67%	-15.99%	92.74%	49.75%	86.05%	-45.99%	-140.45%	50.61%	-1.90%
EPS Growth	-777.78%	33.33%	600.00%	0.00%	88.00%	68.24%	97.30%	-75.61%	-170.75%	55.03%	32.73%
Operating Cash Flow Growth	27.49%	112.17%	-103.32%	-48.35%	-194.72%	105.03%	128.83%	143.86%	-86.20%	-996.08%	65.35%
Free Cash Flow Firm Growth	-93.82%	-75.88%	-46.79%	106.86%	1,668.77%	474.76%	-37.84%	-65.06%	-101.23%	-10.29%	664.30%
Invested Capital Growth	-9.06%	-15.93%	-13.85%	-30.81%	-33.94%	-37.68%	-22.41%	-13.59%	-0.22%	-12.09%	-26.05%
Revenue Q/Q Growth	-23.57%	-12.66%	21.63%	-5.58%	-1.40%	-17.49%	11.96%	2.28%	11.95%	-36.70%	-11.57%
EBITDA Q/Q Growth	-445.56%	-143.27%	190.04%	-324.27%	141.20%	-222.55%	228.30%	43.42%	72.26%	-789.12%	-61.82%
EBIT Q/Q Growth	-178.08%	-367.07%	122.91%	-1,276.92%	93.23%	-640.85%	124.65%	28.54%	64.71%	-7,237.50%	-93.80%
NOPAT Q/Q Growth	-148.36%	-272.34%	139.99%	-17,600.00%	99.53%	-857.48%	84.06%	24.26%	71.11%	-3,018.18%	-87.64%
Net Income Q/Q Growth	-427.27%	-237.50%	116.46%	-1,769.23%	87.32%	-583.33%	92.84%	-17.04%	12.25%	-89.77%	25.09%
EPS Q/Q Growth	-338.89%	-460.00%	106.94%	-700.00%	66.67%	-2,600.00%	98.61%	4.00%	11.76%	-129.73%	9.76%
Operating Cash Flow Q/Q Growth	-174.59%	551.85%	-106.05%	455.78%	-318.26%	-92.93%	-5.90%	552.45%	111.60%	-421.38%	0.28%
Free Cash Flow Firm Q/Q Growth	-77.16%	-13.29%	-55.43%	-30.22%	-10.55%	91.23%	73.31%	629.19%	-132.77%	-79.32%	-2.59%
Invested Capital Q/Q Growth	6.20%	-5.72%	2.98%	-11.79%	-1.83%	-3.39%	-17.30%	-15.78%	-7.38%	20.28%	-7.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-21.26%	-13.47%	11.17%	-0.14%	14.76%	-20.90%	11.27%	9.73%	9.67%	-58.12%	14.30%
EBITDA Margin	-27.48%	-3.85%	7.77%	-10.50%	4.42%	-10.58%	7.12%	-6.21%	-11.23%	-45.32%	4.16%
Operating Margin	-33.91%	-10.44%	3.10%	-16.08%	-0.09%	-18.15%	2.41%	-10.98%	-14.83%	-57.45%	1.25%
EBIT Margin	-34.08%	-9.37%	3.06%	-16.27%	-1.12%	-16.24%	2.48%	-11.25%	-16.11%	-51.10%	0.45%
Profit (Net Income) Margin	-32.46%	-4.70%	2.99%	-22.08%	-1.12%	-8.67%	-1.05%	-16.37%	-14.31%	-18.26%	-6.09%
Tax Burden Percent	88.69%	82.71%	119.40%	100.83%	136.84%	104.06%	-45.45%	100.48%	95.72%	87.37%	96.85%
Interest Burden Percent	107.39%	60.73%	81.71%	134.64%	73.08%	51.30%	92.96%	144.79%	92.80%	40.89%	-1,387.50%
Effective Tax Rate	0.00%	0.00%	-19.40%	0.00%	0.00%	0.00%	145.45%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-31.08%	-10.33%	5.02%	-14.15%	-0.07%	-13.69%	-1.28%	-8.41%	-11.66%	-44.37%	1.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-38.20%	-6.00%	3.59%	-30.26%	-1.30%	-8.19%	-0.97%	-26.50%	-17.17%	-28.67%	-14.51%
Return on Net Nonoperating Assets (RNNOA)	-17.86%	-1.57%	0.84%	-7.12%	-0.37%	-1.82%	-0.05%	-3.75%	-3.36%	-9.48%	-2.29%
Return on Equity (ROE)	-48.95%	-11.91%	5.85%	-21.27%	-0.43%	-15.51%	-1.33%	-12.16%	-15.02%	-53.85%	-1.16%
Cash Return on Invested Capital (CROIC)	-1.75%	11.94%	7.92%	29.97%	35.90%	39.01%	10.20%	1.21%	-7.83%	7.19%	40.73%
Operating Return on Assets (OROA)	-17.26%	-4.82%	1.50%	-7.90%	-0.49%	-6.85%	1.02%	-4.96%	-7.30%	-25.48%	0.24%
Return on Assets (ROA)	-16.44%	-2.42%	1.46%	-10.72%	-0.49%	-3.66%	-0.43%	-7.22%	-6.49%	-9.10%	-3.29%
Return on Common Equity (ROCE)	-23.80%	-6.32%	3.12%	-10.36%	-0.18%	-7.05%	-0.60%	-5.20%	-5.38%	-21.21%	-0.45%
Return on Equity Simple (ROE_SIMPLE)	-61.78%	0.00%	-24.08%	-27.39%	-24.45%	0.00%	-35.19%	-41.23%	-41.02%	0.00%	-11.07%
Net Operating Profit after Tax (NOPAT)	-424	-171	99	-248	-1.40	-300	-31	-197	-260	-899	31
NOPAT Margin	-23.74%	-7.31%	3.70%	-11.26%	-0.06%	-12.70%	-1.09%	-7.69%	-10.38%	-40.21%	0.87%
Net Nonoperating Expense Percent (NNEP)	7.11%	-4.33%	1.43%	16.11%	1.24%	-5.49%	-0.31%	18.10%	5.51%	-15.70%	15.65%
Return On Investment Capital (ROIC_SIMPLE)	-3.71%	-1.49%	0.88%	-2.06%	-0.01%	-2.26%	-0.23%	-1.38%	-1.60%	-5.40%	0.18%
Cost of Revenue to Revenue	121.26%	113.47%	88.83%	100.14%	85.24%	120.90%	88.73%	90.27%	90.33%	158.12%	85.70%
SG&A Expenses to Revenue	11.25%	8.77%	7.55%	8.31%	8.28%	8.42%	7.29%	8.40%	9.15%	14.72%	8.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.65%	-3.04%	8.07%	15.95%	14.84%	-2.75%	8.87%	20.71%	24.50%	-0.67%	13.06%
Earnings before Interest and Taxes (EBIT)	-609	-219	82	-358	-26	-384	71	-288	-403	-1,142	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-491	-90	208	-231	103	-250	204	-159	-281	-1,013	147
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.67	1.56	2.22	2.33	2.13	1.58	1.65	2.19	3.90	2.60	2.45
Price to Tangible Book Value (P/TBV)	4.34	2.17	3.04	3.18	2.90	2.06	2.13	2.86	5.28	3.30	3.10
Price to Revenue (P/Rev)	0.53	0.40	0.61	0.65	0.59	0.49	0.56	0.69	0.98	0.73	0.66
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	33.11%	42.49%	32.44%	28.28%	36.23%	45.32%	48.42%	39.41%	23.48%	24.91%	26.38%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.46	1.23	1.49	1.57	1.44	1.25	1.30	1.44	1.84	1.53	1.60
Enterprise Value to Revenue (EV/Rev)	1.06	0.79	1.02	1.02	1.02	0.89	0.97	1.22	1.64	1.30	1.04
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	23.77	7.33
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	72.36	9.65
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.58
Enterprise Value to Operating Cash Flow (EV/OCF)	10.59	9.09	13.91	4.19	3.21	2.46	7.36	31.51	0.00	17.08	4.34
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	9.38	17.47	4.29	3.18	2.47	11.10	110.65	0.00	19.93	3.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.06	1.47	1.34	1.23	1.17	1.19	1.07	0.98	0.91	0.74	0.72
Long-Term Debt to Equity	1.82	1.47	1.34	1.23	1.17	1.19	1.07	0.98	0.83	0.74	0.72
Financial Leverage	0.47	0.26	0.23	0.24	0.28	0.22	0.05	0.14	0.20	0.33	0.16
Leverage Ratio	3.79	3.47	3.42	3.20	3.28	3.12	2.99	2.83	2.96	2.94	2.79
Compound Leverage Factor	4.08	2.11	2.80	4.31	2.40	1.60	2.78	4.10	2.75	1.20	-38.74
Debt to Total Capital	67.31%	59.57%	57.18%	55.16%	54.02%	54.27%	51.63%	49.62%	47.54%	42.61%	41.94%
Short-Term Debt to Total Capital	7.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.75%	0.00%	0.00%
Long-Term Debt to Total Capital	59.35%	59.57%	57.18%	55.16%	54.02%	54.27%	51.63%	49.62%	43.79%	42.61%	41.94%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.19%	18.85%	19.35%	22.14%	23.25%	21.57%	23.17%	26.58%	33.37%	33.97%	34.51%
Common Equity to Total Capital	15.50%	21.57%	23.46%	22.70%	22.73%	24.16%	25.20%	23.81%	19.09%	23.42%	23.56%
Debt to EBITDA	-12.76	-680.90	-37.92	-38.07	-64.78	-14.83	-5.66	-5.42	-10.10	9.36	3.35
Net Debt to EBITDA	-4.69	-157.00	-10.08	-5.55	-15.44	-2.59	-0.77	-1.53	-3.43	2.92	-0.04
Long-Term Debt to EBITDA	-11.25	-680.90	-37.92	-38.07	-64.78	-14.83	-5.66	-5.42	-9.31	9.36	3.35
Debt to NOPAT	-9.98	-18.81	-13.12	-13.22	-14.68	-10.17	-5.41	-5.34	-8.76	-9.94	5.75
Net Debt to NOPAT	-3.67	-4.34	-3.49	-1.93	-3.50	-1.78	-0.74	-1.50	-2.97	-3.10	-0.07
Long-Term Debt to NOPAT	-8.80	-18.81	-13.12	-13.22	-14.68	-10.17	-5.41	-5.34	-8.07	-9.94	5.75
Altman Z-Score	0.83	1.02	1.07	1.06	0.95	0.91	0.96	0.92	0.66	0.83	1.10
Noncontrolling Interest Sharing Ratio	51.37%	46.94%	46.77%	51.30%	58.42%	54.53%	54.80%	57.20%	64.21%	60.62%	60.89%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.37	1.83	1.56	1.75	1.46	1.65	1.61	1.42	0.65	1.29	1.50
Quick Ratio	0.58	0.68	0.48	0.48	0.39	0.48	0.44	0.39	0.30	0.27	0.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	228	997	1,150	2,580	3,698	4,134	2,162	1,247	-236	719	3,478
Operating Cash Flow to CapEx	-206.82%	277.27%	-93.10%	1,353.03%	-369.12%	112.75%	2,324.29%	2,368.49%	456.90%	-2,720.24%	711.00%
Free Cash Flow to Firm to Interest Expense	1.78	7.73	8.85	20.16	27.19	32.29	14.61	9.17	-1.66	4.99	25.02
Operating Cash Flow to Interest Expense	-1.42	1.89	-0.42	6.98	-1.85	0.90	10.99	12.71	1.87	-15.87	5.12
Operating Cash Flow Less CapEx to Interest Expense	-2.11	1.21	-0.86	6.46	-2.35	0.10	10.52	12.18	1.46	-16.45	4.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.51	0.49	0.49	0.44	0.42	0.41	0.44	0.45	0.50	0.54
Accounts Receivable Turnover	18.95	19.81	19.28	19.74	20.78	18.86	18.03	17.71	21.68	24.09	24.83
Inventory Turnover	9.07	9.49	9.58	9.66	9.08	7.73	7.72	7.94	8.52	8.16	7.00
Fixed Asset Turnover	2.32	2.44	2.45	2.48	2.55	2.57	2.54	2.71	3.05	3.42	3.63
Accounts Payable Turnover	11.11	11.30	12.59	13.05	12.36	11.73	11.66	11.88	12.77	14.65	12.44
Days Sales Outstanding (DSO)	19.26	18.43	18.93	18.49	17.57	19.35	20.24	20.61	16.83	15.15	14.70
Days Inventory Outstanding (DIO)	40.23	38.47	38.10	37.77	40.20	47.19	47.30	45.94	42.86	44.75	52.18
Days Payable Outstanding (DPO)	32.85	32.30	29.00	27.97	29.53	31.12	31.30	30.73	28.59	24.91	29.35
Cash Conversion Cycle (CCC)	26.64	24.60	28.03	28.29	28.24	35.42	36.24	35.83	31.11	34.99	37.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,548	6,166	6,540	6,351	7,200	7,334	7,591	9,179	10,899	11,768	9,784
Invested Capital Turnover	1.31	1.41	1.35	1.26	1.12	1.08	1.17	1.09	1.12	1.10	1.30
Increase / (Decrease) in Invested Capital	-652	-1,168	-1,051	-2,828	-3,699	-4,434	-2,193	-1,444	-24	-1,618	-3,447
Enterprise Value (EV)	9,537	7,563	9,776	9,989	10,340	9,184	9,834	13,233	20,078	18,017	15,607
Market Capitalization	4,738	3,838	5,881	6,365	5,921	5,058	5,696	7,450	12,063	10,149	9,826
Book Value per Share	$3.39	$4.89	$5.56	$6.04	$6.48	$7.81	$8.78	$9.20	$8.74	$11.56	$12.40
Tangible Book Value per Share	$2.09	$3.51	$4.07	$4.44	$4.76	$5.97	$6.81	$7.06	$6.47	$9.12	$9.82
Total Capital	11,448	11,430	11,274	12,011	12,233	13,280	13,703	14,265	16,195	16,654	16,994
Total Debt	7,706	6,809	6,447	6,625	6,608	7,207	7,075	7,078	7,699	7,096	7,127
Total Long-Term Debt	6,794	6,809	6,447	6,625	6,608	7,207	7,075	7,078	7,091	7,096	7,127
Net Debt	2,831	1,570	1,713	965	1,575	1,261	963	1,992	2,610	2,210	-83
Capital Expenditures (CapEx)	88	88	58	66	68	102	70	73	58	84	100
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,227	-1,493	-1,465	-1,456	-1,634	-1,280	-1,421	-1,866	-8,114	-1,734	-2,151
Debt-free Net Working Capital (DFNWC)	2,648	3,746	3,269	4,204	3,399	4,666	4,691	3,220	-3,025	3,152	5,059
Net Working Capital (NWC)	1,736	3,746	3,269	4,204	3,399	4,666	4,691	3,220	-3,633	3,152	5,059
Net Nonoperating Expense (NNE)	156	-61	19	238	25	-95	-1.36	222	98	-491	246
Net Nonoperating Obligations (NNO)	2,806	1,545	1,713	965	1,575	1,261	963	1,992	2,403	2,210	-83
Total Depreciation and Amortization (D&A)	118	129	126	127	129	134	133	129	122	129	131
Debt-free, Cash-free Net Working Capital to Revenue	-24.74%	-15.64%	-15.30%	-14.92%	-16.15%	-12.44%	-13.98%	-17.23%	-66.18%	-12.50%	-14.34%
Debt-free Net Working Capital to Revenue	29.42%	39.24%	34.15%	43.07%	33.59%	45.35%	46.17%	29.74%	-24.67%	22.72%	33.74%
Net Working Capital to Revenue	19.29%	39.24%	34.15%	43.07%	33.59%	45.35%	46.17%	29.74%	-29.63%	22.72%	33.74%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.79)	($0.18)	$0.05	($0.72)	($0.09)	($0.27)	($0.01)	($0.72)	($0.75)	($0.87)	($0.37)
Adjusted Weighted Average Basic Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Adjusted Diluted Earnings per Share	($0.79)	($0.18)	$0.05	($0.72)	($0.09)	($0.27)	($0.01)	($0.72)	($0.75)	($0.85)	($0.37)
Adjusted Weighted Average Diluted Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	523M	466M	477M	450M	429M	382M	394M	367M	354M	316M	324M
Normalized Net Operating Profit after Tax (NOPAT)	-412	-171	58	-247	-1.40	-300	49	-197	-260	-899	31
Normalized NOPAT Margin	-23.07%	-7.31%	2.17%	-11.23%	-0.06%	-12.70%	1.71%	-7.69%	-10.38%	-40.21%	0.87%
Pre Tax Income Margin	-36.60%	-5.69%	2.50%	-21.90%	-0.82%	-8.33%	2.30%	-16.30%	-14.95%	-20.89%	-6.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.76	-1.70	0.63	-2.80	-0.19	-3.00	0.48	-2.12	-2.84	-7.93	0.12
NOPAT to Interest Expense	-3.31	-1.32	0.76	-1.94	-0.01	-2.35	-0.21	-1.45	-1.83	-6.24	0.22
EBIT Less CapEx to Interest Expense	-5.45	-2.38	0.18	-3.31	-0.69	-3.80	0.01	-2.65	-3.25	-8.51	-0.60
NOPAT Less CapEx to Interest Expense	-4.00	-2.01	0.32	-2.45	-0.51	-3.14	-0.68	-1.98	-2.24	-6.83	-0.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-89.05%	-183.95%	-200.31%	-175.10%	-407.79%	-279.15%	-212.92%	-153.00%	-44.72%	-2,076.00%	-105.42%
Augmented Payout Ratio	-89.05%	-183.95%	-200.31%	-175.10%	-407.79%	-279.15%	-212.92%	-153.00%	-44.72%	-2,076.00%	-105.42%

Frequently Asked Questions About Icahn Enterprises' Financials

When does Icahn Enterprises's financial year end?

According to the most recent income statement we have on file, Icahn Enterprises' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Icahn Enterprises' net income changed over the last 9 years?

In the past 9 years, Icahn Enterprises' net income has ranged from -$2.47 billion in 2020 to $2.63 billion in 2017, and is currently -$542 million as of their latest financial filing in 2024.

What is Icahn Enterprises's operating income?

Icahn Enterprises's total operating income in 2024 was -$517 million, based on the following breakdown:

Total Gross Profit: $325 million
Total Operating Expenses: $842 million

How has Icahn Enterprises revenue changed over the last 9 years?

Over the last 9 years, Icahn Enterprises' total revenue changed from $15.27 billion in 2015 to $9.55 billion in 2024, a change of -37.5%.

How much debt does Icahn Enterprises have?

Icahn Enterprises' total liabilities were at $11.66 billion at the end of 2024, a 21.1% decrease from 2023, and a 55.8% decrease since 2015.

How much cash does Icahn Enterprises have?

In the past 9 years, Icahn Enterprises' cash and equivalents has ranged from $1.16 billion in 2017 to $3.79 billion in 2019, and is currently $2.60 billion as of their latest financial filing in 2024.

How has Icahn Enterprises' book value per share changed over the last 9 years?

Over the last 9 years, Icahn Enterprises' book value per share changed from 30.92 in 2015 to 4.89 in 2024, a change of -84.2%.

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This page (NASDAQ:IEP) was last updated on 5/25/2025 by MarketBeat.com Staff

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Icahn Enterprises (IEP) Financials

Frequently Asked Questions About Icahn Enterprises' Financials

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Icahn Enterprises (IEP) Financials

Annual Income Statements for Icahn Enterprises

Quarterly Income Statements for Icahn Enterprises

Annual Cash Flow Statements for Icahn Enterprises

Quarterly Cash Flow Statements for Icahn Enterprises

Annual Balance Sheets for Icahn Enterprises

Quarterly Balance Sheets for Icahn Enterprises

Annual Metrics And Ratios for Icahn Enterprises

Quarterly Metrics And Ratios for Icahn Enterprises

Frequently Asked Questions About Icahn Enterprises' Financials

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