Corteva (CTVA) Financials

$70.86 -0.19 (-0.26%)

Closing price 08/8/2025 03:59 PM Eastern

Extended Trading

$70.98 +0.12 (+0.17%)

As of 08/8/2025 07:38 PM Eastern

Annual Income Statements for Corteva

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

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-5,065	-959	681	1,759	1,147	735	907
Consolidated Net Income / (Loss)	-5,027	-941	701	1,769	1,158	747	919
Net Income / (Loss) Continuing Operations	-6,775	-270	756	1,822	1,216	941	863
Total Pre-Tax Income	-6,806	-316	675	2,346	1,426	1,093	1,275
Total Operating Income	-6,637	-382	508	1,028	1,565	1,774	1,808
Total Gross Profit	4,339	5,271	5,710	6,435	7,019	7,306	7,379
Total Revenue	14,287	13,846	14,217	15,655	17,455	17,226	16,908
Operating Revenue	14,287	13,846	14,217	15,655	17,455	17,226	16,908
Total Cost of Revenue	9,948	8,575	8,507	9,220	10,436	9,920	9,529
Operating Cost of Revenue	9,948	8,575	8,507	9,220	10,436	9,920	9,529
Total Operating Expenses	10,976	5,653	5,202	5,407	5,454	5,532	5,571
Selling, General & Admin Expense	3,041	3,065	3,043	3,209	3,173	3,176	3,196
Research & Development Expense	1,355	1,147	1,142	1,187	1,216	1,337	1,402
Amortization Expense	391	475	682	722	702	683	685
Restructuring Charge	694	222	335	289	363	336	288
Total Other Income / (Expense), net	-169	66	167	1,318	-139	-681	-533
Interest Expense	418	149	45	30	79	233	233
Other Income / (Expense), net	249	215	212	1,348	-60	-448	-300
Income Tax Expense	-31	-46	-81	524	210	152	412
Net Income / (Loss) Discontinued Operations	1,748	-671	-55	-53	-58	-194	56
Net Income / (Loss) Attributable to Noncontrolling Interest	38	18	20	10	11	12	12
Basic Earnings per Share	($6.76)	($1.28)	$0.91	$2.39	$1.59	$1.04	$1.31
Weighted Average Basic Shares Outstanding	-	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Diluted Earnings per Share	($6.76)	($1.28)	$0.91	$2.37	$1.58	$1.03	$1.30
Weighted Average Diluted Shares Outstanding	-	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Weighted Average Basic & Diluted Shares Outstanding	-	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Cash Dividends to Common per Share	-	$0.26	$0.52	$0.54	-	-	$0.66

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-55	595	714	-321	-253	419	1,053	-524	-41	652	1,314
Consolidated Net Income / (Loss)	-53	599	717	-318	-251	423	1,056	-521	-39	656	1,316
Net Income / (Loss) Continuing Operations	-41	607	880	-315	-231	376	1,056	-519	-50	667	1,382
Total Pre-Tax Income	2,451	776	1,084	-444	-323	482	1,338	-633	88	784	1,804
Total Operating Income	-18	878	1,300	-237	-167	622	1,517	-460	129	805	1,753
Total Gross Profit	1,315	2,113	2,908	944	1,341	1,942	3,194	761	1,482	2,075	3,524
Total Revenue	3,825	4,884	6,045	2,590	3,707	4,492	6,112	2,326	3,978	4,417	6,456
Operating Revenue	3,825	4,884	6,045	2,590	3,707	4,492	6,112	2,326	3,978	4,417	6,456
Total Cost of Revenue	2,510	2,771	3,137	1,646	2,366	2,550	2,918	1,565	2,496	2,342	2,932
Operating Cost of Revenue	2,510	2,771	3,137	1,646	2,366	2,550	2,918	1,565	2,496	2,342	2,932
Total Operating Expenses	1,333	1,235	1,608	1,181	1,508	1,320	1,677	1,221	1,353	1,270	1,771
Selling, General & Admin Expense	764	726	1,045	670	735	736	1,054	671	735	751	1,156
Research & Development Expense	340	316	329	335	357	332	357	348	365	335	375
Amortization Expense	166	160	174	174	175	177	174	170	164	162	161
Restructuring Charge	63	33	60	2.00	241	75	92	32	89	22	79
Total Other Income / (Expense), net	-185	-102	-216	-207	-156	-140	-179	-173	-41	-21	51
Interest Expense	36	31	82	58	62	41	66	66	60	36	52
Other Income / (Expense), net	-149	-71	-134	-149	-94	-99	-113	-107	19	15	103
Income Tax Expense	-162	169	204	-129	-92	106	282	-114	138	117	422
Net Income / (Loss) Discontinued Operations	-12	-8.00	-163	-3.00	-20	47	0.00	-2.00	11	-11	-66
Net Income / (Loss) Attributable to Noncontrolling Interest	2.00	4.00	3.00	3.00	2.00	4.00	3.00	3.00	2.00	4.00	2.00
Basic Earnings per Share	($0.07)	$0.84	$1.00	($0.45)	($0.35)	$0.60	$1.51	($0.76)	($0.04)	$0.95	$1.92
Weighted Average Basic Shares Outstanding	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M
Diluted Earnings per Share	($0.07)	$0.83	$1.00	($0.45)	($0.35)	$0.60	$1.51	($0.76)	($0.05)	$0.95	$1.92
Weighted Average Diluted Shares Outstanding	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M
Weighted Average Basic & Diluted Shares Outstanding	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M

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

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	3,613	-2,851	1,700	-198	-2,436	-920	528
Net Cash From Operating Activities	483	1,070	2,064	2,727	1,711	5,225	4,332
Net Cash From Continuing Operating Activities	374	-149	2,064	2,769	1,791	5,345	4,634
Net Income / (Loss) Continuing Operations	-5,027	-941	701	1,822	2,398	1,867	1,756
Consolidated Net Income / (Loss)	5,027	-941	701	1,769	2,282	1,479	1,868
Net Income / (Loss) Discontinued Operations	-	-	-	-53	-116	-388	112
Depreciation Expense	2,790	1,599	1,177	1,243	2,446	2,422	2,454
Non-Cash Adjustments To Reconcile Net Income	5,208	-161	19	-1,117	652	1,762	1,326
Changes in Operating Assets and Liabilities, net	-4,225	-918	167	821	-3,705	-2,474	-902
Net Cash From Discontinued Operating Activities	-	-	-	-42	-80	-80	-302
Net Cash From Investing Activities	-505	-904	-674	-362	-1,264	-6,001	-817
Net Cash From Continuing Investing Activities	-505	-904	-674	-362	-1,264	-3,994	-817
Purchase of Property, Plant & Equipment	-1,501	-1,163	-475	-573	-1,210	-1,190	-1,194
Acquisitions	-8.00	-20	-1.00	-4.00	-96	-2,976	-14
Purchase of Investments	-1,257	-138	-995	-204	-688	-296	-288
Divestitures	78	270	83	75	146	114	10
Sale and/or Maturity of Investments	2,186	160	721	345	590	378	386
Other Investing Activities, net	-3.00	-13	-7.00	-1.00	-6.00	-24	283
Net Cash From Financing Activities	-2,624	-2,929	303	-1,266	-2,327	-175	-2,801
Net Cash From Continuing Financing Activities	3,744	2,357	1,199	-2,563	-2,327	-137	-2,801
Repayment of Debt	-6,422	-6,758	-1,469	-1,800	-3,823	-5,850	-5,825
Repurchase of Common Equity	0.00	-25	-275	-950	-1,000	-756	-1,009
Payment of Dividends	-2,806	511	-448	-397	-418	-439	-2,337
Issuance of Debt	1,156	-867	2,439	484	2,738	6,846	6,250
Other Financing Activities, net	5,448	9,496	56	100	176	62	120
Other Net Changes in Cash	-	-88	7.00	-	-556	-286	-186
Cash Interest Paid	923	263	36	30	150	468	488
Cash Income Taxes Paid	961	234	229	341	934	1,070	1,414

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	1,998	128	-783	-1,014	749	-2,288	254	1,230	1,332	-2,254	44
Net Cash From Operating Activities	6,009	-3,311	812	-105	7,829	-5,222	536	-114	9,494	-4,218	1,894
Net Cash From Continuing Operating Activities	6,203	-3,302	822	-94	7,919	-5,216	848	-118	9,482	-4,202	1,924
Net Income / (Loss) Continuing Operations	1.00	607	880	-315	695	757	2,122	-1,024	-99	1,334	2,764
Consolidated Net Income / (Loss)	-115	599	717	-318	481	851	2,122	-1,028	-77	1,312	2,632
Net Income / (Loss) Discontinued Operations	-	-8.00	-163	-3.00	-214	94	-	-4.00	22	-22	-132
Depreciation Expense	608	-	-	306	1,523	614	624	612	604	592	602
Non-Cash Adjustments To Reconcile Net Income	34	68	288	174	1,232	504	450	406	-34	206	544
Changes in Operating Assets and Liabilities, net	5,560	-5,290	337	-222	2,701	-7,091	-2,348	-112	9,011	-6,334	-1,986
Net Cash From Discontinued Operating Activities	-	-9.00	-10	-11	-50	-6.00	-312	4.00	12	-16	-30
Net Cash From Investing Activities	-386	-1,511	-33	-229	-4,228	-902	-70	-322	115	-68	-328
Net Cash From Continuing Investing Activities	-386	1,478	-2,988	-263	-2,221	-902	-70	-322	115	61	-328
Purchase of Property, Plant & Equipment	-290	-151	-99	-162	-778	-296	-228	-308	-362	-188	-236
Divestitures	54	42	26	-26	72	10	30	-36	6.00	16	34
Sale and/or Maturity of Investments	42	124	24	21	209	14	146	100	126	124	-112
Other Investing Activities, net	-54	0.00	-2.00	-	-22	-366	-10	-62	359	109	-14
Net Cash From Financing Activities	-3,659	3,274	105	224	-3,778	3,898	-130	1,612	-8,181	1,990	-1,616
Net Cash From Continuing Financing Activities	-3,659	3,274	105	-671	-2,845	3,898	-130	1,612	-8,181	1,861	-1,616
Repayment of Debt	-1,891	-84	-330	-1,869	-3,567	-416	-1,519	-1,172	-2,718	-74	-665
Repurchase of Common Equity	-200	-252	-80	-253	-171	-252	-252	-253	-252	-270	-250
Payment of Dividends	-107	-107	-106	-114	-112	-112	-111	-117	-1,997	-629	-491
Issuance of Debt	-1,505	3,710	602	1,563	971	4,662	1,712	3,150	-3,274	2,764	-280
Other Financing Activities, net	44	7.00	19	2.00	34	16	40	4.00	60	70	70
Other Net Changes in Cash	34	-	-	-	-	-62	-82	54	-96	42	94

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

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	217,366	42,397	42,649	42,344	42,618	42,996	40,825
Total Current Assets	45,944	13,519	14,768	15,546	16,795	16,260	15,097
Cash & Equivalents	4,540	1,764	3,526	4,459	3,191	2,644	3,106
Short-Term Investments	10	5.00	269	86	124	98	63
Accounts Receivable	10,520	5,528	4,926	4,811	5,701	5,488	5,676
Inventories, net	10,620	5,032	4,882	5,180	6,811	6,899	5,432
Other Current Assets	2,076	1,190	1,165	1,010	968	1,131	820
Plant, Property, & Equipment, net	9,088	4,546	4,396	4,329	4,254	4,287	4,099
Plant, Property & Equipment, gross	14,680	7,872	8,253	8,364	8,551	8,956	9,074
Accumulated Depreciation	5,592	3,326	3,857	4,035	4,297	4,669	4,975
Total Noncurrent Assets	162,334	24,332	23,485	22,469	21,569	22,449	21,629
Long-Term Investments	276	66	66	76	102	115	134
Goodwill	20,386	10,229	10,269	10,107	9,962	10,605	10,408
Intangible Assets	24,110	11,424	10,747	10,044	9,339	9,626	8,876
Noncurrent Deferred & Refundable Income Taxes	608	287	464	438	479	584	401
Other Noncurrent Operating Assets	3,864	2,326	1,939	1,804	1,687	1,519	1,810
Total Liabilities & Shareholders' Equity	217,366	42,397	42,649	42,344	42,618	42,996	40,825
Total Liabilities	67,060	17,842	17,586	16,721	17,077	17,717	16,795
Total Current Liabilities	26,620	8,238	8,548	9,558	10,744	10,409	10,386
Short-Term Debt	4,308	7.00	3.00	17	24	198	750
Accounts Payable	7,596	3,702	3,615	4,126	4,895	4,280	4,039
Accrued Expenses	8,010	4,434	2,145	2,068	2,254	2,351	2,103
Current Deferred Revenue	-	-	2,662	3,201	3,388	3,406	3,287
Current Deferred & Payable Income Tax Liabilities	372	95	123	146	183	174	207
Total Noncurrent Liabilities	40,440	9,604	9,038	7,163	6,333	7,308	6,409
Long-Term Debt	11,568	115	1,102	1,100	1,283	2,291	1,953
Noncurrent Deferred & Payable Income Tax Liabilities	2,960	920	893	1,220	1,119	899	478
Noncurrent Employee Benefit Liabilities	11,354	6,377	5,176	3,124	2,255	2,467	2,271
Other Noncurrent Operating Liabilities	3,590	2,192	1,867	1,719	1,676	1,651	1,707
Total Equity & Noncontrolling Interests	150,306	24,555	25,063	25,623	25,541	25,279	24,030
Total Preferred & Common Equity	149,559	24,309	24,824	25,384	25,302	25,037	23,789
Preferred Stock	0.00	-	-	0.00	0.00	0.00	0.00
Total Common Equity	149,559	24,309	24,824	25,384	25,302	25,037	23,789
Common Stock	0.00	28,004	27,714	27,758	27,858	27,755	27,203
Retained Earnings	0.00	-425	-	524	250	-41	55
Accumulated Other Comprehensive Income / (Loss)	-6,720	-3,270	-2,890	-2,898	-2,806	-2,677	-3,469
Noncontrolling Interest	747	246	239	239	239	242	241

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	42,618	45,500	44,189	43,110	42,996	43,625	41,464	41,908	40,825	42,123	41,759
Total Current Assets	16,795	18,329	17,207	16,333	16,260	17,163	15,359	15,649	15,097	16,587	16,004
Cash & Equivalents	3,191	1,646	2,563	2,254	2,644	1,505	1,839	2,421	3,106	2,008	2,065
Short-Term Investments	124	85	53	108	98	153	120	72	63	1.00	76
Accounts Receivable	5,701	8,678	7,955	6,581	5,488	7,906	7,615	6,651	5,676	8,294	8,674
Inventories, net	6,811	6,585	5,628	6,320	6,899	6,183	4,893	5,674	5,432	5,132	4,316
Other Current Assets	968	1,335	1,008	1,070	1,131	1,416	892	831	820	1,152	873
Plant, Property, & Equipment, net	4,254	4,271	4,306	4,320	4,287	4,206	4,155	4,210	4,099	4,105	4,153
Plant, Property & Equipment, gross	8,551	8,633	8,797	8,892	8,956	9,013	9,088	9,235	9,074	9,244	9,455
Accumulated Depreciation	4,297	4,362	4,491	4,572	4,669	4,807	4,933	5,025	4,975	5,139	5,302
Total Noncurrent Assets	21,569	22,900	22,676	22,457	22,449	22,256	21,950	22,049	21,629	21,431	21,602
Long-Term Investments	102	87	83	106	115	123	113	128	134	136	134
Goodwill	9,962	10,508	10,539	10,441	10,605	10,553	10,490	10,629	10,408	10,332	10,518
Intangible Assets	9,339	10,137	9,985	9,795	9,626	9,446	9,238	9,084	8,876	8,718	8,583
Noncurrent Deferred & Refundable Income Taxes	479	508	524	554	584	551	538	564	401	413	449
Other Noncurrent Operating Assets	1,687	1,660	1,545	1,561	1,519	1,583	1,571	1,644	1,810	1,832	1,918
Total Liabilities & Shareholders' Equity	42,618	45,500	44,189	43,110	42,996	43,625	41,464	41,908	40,825	42,123	41,759
Total Liabilities	17,077	19,661	17,728	17,758	17,717	18,617	16,043	16,929	16,795	17,596	15,608
Total Current Liabilities	10,744	13,231	10,346	10,348	10,409	11,332	8,953	10,424	10,386	11,481	9,516
Short-Term Debt	24	3,787	3,023	3,724	198	2,148	2,253	3,741	750	2,291	1,942
Accounts Payable	4,895	3,957	3,379	3,678	4,280	3,606	3,300	3,753	4,039	3,905	3,828
Accrued Expenses	2,254	2,477	2,892	2,273	2,351	2,573	2,499	2,188	2,103	2,332	2,903
Current Deferred Revenue	3,388	2,712	656	552	3,406	2,694	413	429	3,287	2,631	358
Current Deferred & Payable Income Tax Liabilities	183	298	396	236	174	311	488	313	207	322	485
Total Noncurrent Liabilities	6,333	6,430	7,382	7,295	7,308	7,285	7,090	6,505	6,409	6,115	6,092
Long-Term Debt	1,283	1,241	2,290	2,290	2,291	2,492	2,471	1,975	1,953	1,792	1,687
Noncurrent Deferred & Payable Income Tax Liabilities	1,119	1,255	1,134	1,070	899	753	607	496	478	369	258
Noncurrent Employee Benefit Liabilities	2,255	2,242	2,236	2,228	2,467	2,453	2,452	2,473	2,271	2,239	2,229
Other Noncurrent Operating Liabilities	1,676	1,692	1,722	1,707	1,651	1,587	1,560	1,561	1,707	1,715	1,918
Total Equity & Noncontrolling Interests	25,541	25,839	26,461	25,467	25,279	25,008	25,421	24,979	24,030	24,527	26,151
Total Preferred & Common Equity	25,302	25,599	26,220	25,226	25,037	24,767	25,179	24,737	23,789	24,285	25,909
Preferred Stock	0.00	0.00	0.00	239	0.00	0.00	0.00	239	0.00	0.00	0.00
Total Common Equity	25,302	25,599	26,220	25,226	25,037	24,767	25,179	24,737	23,789	24,285	25,909
Common Stock	27,858	27,851	27,884	27,902	27,755	27,475	27,511	27,525	27,203	26,969	27,021
Retained Earnings	250	487	1,013	325	-41	302	992	98	55	587	1,532
Accumulated Other Comprehensive Income / (Loss)	-2,806	-2,739	-2,677	-3,001	-2,677	-3,010	-3,324	-2,886	-3,469	-3,271	-2,644
Noncontrolling Interest	239	240	241	241	242	241	242	242	241	242	242

This table displays calculated financial ratios and metrics derived from Corteva's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-3.09%	2.68%	10.11%	11.50%	-1.31%	-1.85%
EBITDA Growth	0.00%	186.50%	11.33%	90.77%	9.17%	-5.14%	5.71%
EBIT Growth	0.00%	97.39%	531.14%	230.00%	-36.66%	-11.89%	13.73%
NOPAT Growth	0.00%	94.24%	312.77%	40.32%	67.15%	14.44%	-19.87%
Net Income Growth	0.00%	81.28%	174.50%	152.35%	-34.54%	-35.49%	23.03%
EPS Growth	0.00%	81.07%	171.09%	160.44%	-33.33%	-34.81%	26.21%
Operating Cash Flow Growth	0.00%	121.53%	92.90%	32.12%	-37.26%	205.38%	-17.09%
Free Cash Flow Firm Growth	0.00%	0.00%	-95.45%	-10.65%	-97.72%	109.92%	5,618.87%
Invested Capital Growth	0.00%	-51.80%	-2.34%	-0.84%	5.93%	6.32%	-5.95%
Revenue Q/Q Growth	0.00%	113.31%	34.16%	1.77%	2.02%	-0.68%	1.63%
EBITDA Q/Q Growth	0.00%	-57.15%	-42.09%	9.73%	-3.16%	119.95%	21.50%
EBIT Q/Q Growth	0.00%	-104.31%	-11.00%	15.17%	-21.82%	-6.62%	37.22%
NOPAT Q/Q Growth	0.00%	-107.25%	-3.18%	-4.16%	27.01%	-18.86%	2.54%
Net Income Q/Q Growth	0.00%	-128.66%	51.08%	7.15%	-15.60%	-20.95%	29.99%
EPS Q/Q Growth	0.00%	0.00%	10.98%	7.24%	-15.51%	-21.37%	30.00%
Operating Cash Flow Q/Q Growth	0.00%	11.46%	-3.37%	9.87%	327.53%	103.62%	649.05%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-60.48%	5.16%	-12.33%	103.18%	34.07%
Invested Capital Q/Q Growth	0.00%	-14.81%	-9.35%	-9.73%	-8.21%	-13.80%	-16.54%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	30.37%	38.07%	40.16%	41.11%	40.21%	42.41%	43.64%
EBITDA Margin	-13.79%	12.31%	13.34%	23.12%	22.64%	21.76%	23.43%
Operating Margin	-46.45%	-2.76%	3.57%	6.57%	8.97%	10.30%	10.69%
EBIT Margin	-44.71%	-1.21%	5.06%	15.18%	8.62%	7.70%	8.92%
Profit (Net Income) Margin	-35.19%	-6.80%	4.93%	11.30%	6.63%	4.34%	5.44%
Tax Burden Percent	73.86%	297.78%	103.85%	75.40%	81.21%	68.34%	72.08%
Interest Burden Percent	106.54%	189.22%	93.75%	98.74%	94.75%	82.43%	84.55%
Effective Tax Rate	0.00%	0.00%	-12.00%	22.34%	14.73%	13.91%	32.31%
Return on Invested Capital (ROIC)	-9.80%	-0.76%	2.52%	3.59%	5.86%	6.32%	5.06%
ROIC Less NNEP Spread (ROIC-NNEP)	-9.43%	0.53%	-3.39%	-27.42%	12.15%	69.30%	68.03%
Return on Net Nonoperating Assets (RNNOA)	6.46%	-0.31%	0.31%	3.39%	-1.33%	-3.38%	-1.34%
Return on Equity (ROE)	-3.34%	-1.08%	2.83%	6.98%	4.53%	2.94%	3.73%
Cash Return on Invested Capital (CROIC)	0.00%	69.14%	4.89%	4.44%	0.10%	0.20%	11.19%
Operating Return on Assets (OROA)	-2.94%	-0.13%	1.69%	5.59%	3.54%	3.10%	3.60%
Return on Assets (ROA)	-2.31%	-0.72%	1.65%	4.16%	2.73%	1.75%	2.19%
Return on Common Equity (ROCE)	-3.33%	-1.07%	2.80%	6.91%	4.48%	2.91%	3.69%
Return on Equity Simple (ROE_SIMPLE)	-3.36%	-3.87%	2.82%	6.97%	4.58%	2.98%	3.86%
Net Operating Profit after Tax (NOPAT)	-4,646	-267	569	798	1,335	1,527	1,224
NOPAT Margin	-32.52%	-1.93%	4.00%	5.10%	7.65%	8.87%	7.24%
Net Nonoperating Expense Percent (NNEP)	-0.37%	-1.29%	5.91%	31.01%	-6.29%	-62.98%	-62.97%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	4.97%	5.50%	4.58%
Cost of Revenue to Revenue	69.63%	61.93%	59.84%	58.89%	59.79%	57.59%	56.36%
SG&A Expenses to Revenue	21.29%	22.14%	21.40%	20.50%	18.18%	18.44%	18.90%
R&D to Revenue	9.48%	8.28%	8.03%	7.58%	6.97%	7.76%	8.29%
Operating Expenses to Revenue	76.83%	40.83%	36.59%	34.54%	31.25%	32.11%	32.95%
Earnings before Interest and Taxes (EBIT)	-6,388	-167	720	2,376	1,505	1,326	1,508
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,970	1,704	1,897	3,619	3,951	3,748	3,962
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.86	1.12	1.33	1.62	1.33	1.65
Price to Tangible Book Value (P/TBV)	0.00	7.89	7.31	6.43	6.84	6.95	8.69
Price to Revenue (P/Rev)	0.00	1.51	1.96	2.15	2.35	1.94	2.32
Price to Earnings (P/E)	0.00	0.00	40.87	19.13	35.77	45.42	43.16
Dividend Yield	0.00%	0.93%	1.74%	1.17%	1.27%	1.31%	1.16%
Earnings Yield	0.00%	0.00%	2.45%	5.23%	2.80%	2.20%	2.32%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.85	1.13	1.37	1.67	1.34	1.66
Enterprise Value to Revenue (EV/Rev)	0.00	1.41	1.78	1.94	2.24	1.93	2.29
Enterprise Value to EBITDA (EV/EBITDA)	0.00	11.43	13.34	8.39	9.91	8.87	9.79
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	35.16	12.79	26.02	25.08	25.72
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	44.49	38.05	29.34	21.78	31.70
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	18.20	12.26	11.14	22.89	6.37	8.95
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.80	22.93	30.80	1,738.05	703.19	14.34
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.11	0.01	0.04	0.04	0.05	0.10	0.11
Long-Term Debt to Equity	0.08	0.00	0.04	0.04	0.05	0.09	0.08
Financial Leverage	-0.68	-0.60	-0.09	-0.12	-0.11	-0.05	-0.02
Leverage Ratio	1.45	1.49	1.71	1.68	1.66	1.68	1.70
Compound Leverage Factor	1.54	2.81	1.61	1.66	1.57	1.39	1.44
Debt to Total Capital	9.55%	0.49%	4.22%	4.18%	4.87%	8.96%	10.11%
Short-Term Debt to Total Capital	2.59%	0.03%	0.01%	0.06%	0.09%	0.71%	2.81%
Long-Term Debt to Total Capital	6.96%	0.47%	4.21%	4.11%	4.78%	8.25%	7.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.45%	1.00%	0.91%	0.89%	0.89%	0.87%	0.90%
Common Equity to Total Capital	90.00%	98.51%	94.86%	94.93%	94.24%	90.16%	88.99%
Debt to EBITDA	-8.06	0.07	0.58	0.31	0.33	0.66	0.68
Net Debt to EBITDA	-5.61	-1.01	-1.45	-0.97	-0.53	-0.10	-0.15
Long-Term Debt to EBITDA	-5.87	0.07	0.58	0.30	0.32	0.61	0.49
Debt to NOPAT	-3.42	-0.46	1.94	1.40	0.98	1.63	2.21
Net Debt to NOPAT	-2.38	6.41	-4.84	-4.39	-1.58	-0.24	-0.49
Long-Term Debt to NOPAT	-2.49	-0.43	1.94	1.38	0.96	1.50	1.60
Altman Z-Score	0.00	1.15	1.51	1.95	2.15	1.79	2.08
Noncontrolling Interest Sharing Ratio	0.50%	0.57%	0.98%	0.94%	0.93%	0.95%	0.98%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	1.73	1.64	1.73	1.63	1.56	1.56	1.45
Quick Ratio	0.57	0.89	1.02	0.98	0.84	0.79	0.85
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	24,281	1,104	986	23	47	2,705
Operating Cash Flow to CapEx	32.18%	92.00%	434.53%	475.92%	141.41%	439.08%	362.81%
Free Cash Flow to Firm to Interest Expense	0.00	162.96	24.53	32.88	0.29	0.20	11.61
Operating Cash Flow to Interest Expense	1.16	7.18	45.87	90.90	21.66	22.42	18.59
Operating Cash Flow Less CapEx to Interest Expense	-2.44	-0.62	35.31	71.80	6.34	17.32	13.47
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.07	0.11	0.33	0.37	0.41	0.40	0.40
Accounts Receivable Turnover	1.36	1.73	2.72	3.22	3.32	3.08	3.03
Inventory Turnover	0.94	1.10	1.72	1.83	1.74	1.45	1.55
Fixed Asset Turnover	1.57	2.03	3.18	3.59	4.07	4.03	4.03
Accounts Payable Turnover	1.31	1.52	2.33	2.38	2.31	2.16	2.29
Days Sales Outstanding (DSO)	268.76	211.52	134.20	113.51	109.91	118.54	120.50
Days Inventory Outstanding (DIO)	389.66	333.12	212.68	199.17	209.69	252.23	236.16
Days Payable Outstanding (DPO)	278.70	240.45	156.97	153.22	157.76	168.79	159.33
Cash Conversion Cycle (CCC)	379.71	304.19	189.91	159.45	161.85	201.97	197.34
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	47,390	22,842	22,307	22,119	23,431	24,911	23,430
Invested Capital Turnover	0.30	0.39	0.63	0.70	0.77	0.71	0.70
Increase / (Decrease) in Invested Capital	0.00	-24,548	-535	-188	1,312	1,480	-1,481
Enterprise Value (EV)	0.00	19,477	25,314	30,377	39,159	33,258	38,789
Market Capitalization	0.00	20,944	27,831	33,642	41,030	33,384	39,148
Book Value per Share	$0.00	$32.48	$33.32	$34.82	$35.41	$35.53	$34.61
Tangible Book Value per Share	$0.00	$3.55	$5.11	$7.18	$8.40	$6.82	$6.55
Total Capital	166,182	24,677	26,168	26,740	26,848	27,768	26,733
Total Debt	15,876	122	1,105	1,117	1,307	2,489	2,703
Total Long-Term Debt	11,568	115	1,102	1,100	1,283	2,291	1,953
Net Debt	11,050	-1,713	-2,756	-3,504	-2,110	-368	-600
Capital Expenditures (CapEx)	1,501	1,163	475	573	1,210	1,190	1,194
Debt-free, Cash-free Net Working Capital (DFCFNWC)	19,082	3,519	2,428	1,460	2,760	3,307	2,292
Debt-free Net Working Capital (DFNWC)	23,632	5,288	6,223	6,005	6,075	6,049	5,461
Net Working Capital (NWC)	19,324	5,281	6,220	5,988	6,051	5,851	4,711
Net Nonoperating Expense (NNE)	381	674	-132	-971	177	780	305
Net Nonoperating Obligations (NNO)	-102,916	-1,713	-2,756	-3,504	-2,110	-368	-600
Total Depreciation and Amortization (D&A)	4,418	1,871	1,177	1,243	2,446	2,422	2,454
Debt-free, Cash-free Net Working Capital to Revenue	133.56%	25.42%	17.08%	9.33%	15.81%	19.20%	13.56%
Debt-free Net Working Capital to Revenue	165.41%	38.19%	43.77%	38.36%	34.80%	35.12%	32.30%
Net Working Capital to Revenue	135.26%	38.14%	43.75%	38.25%	34.67%	33.97%	27.86%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($6.76)	($1.28)	$0.91	$2.39	$1.59	$1.04	$1.31
Adjusted Weighted Average Basic Shares Outstanding	0.00	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Adjusted Diluted Earnings per Share	($6.76)	($1.28)	$0.91	$2.37	$1.58	$1.03	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	0.00	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Adjusted Basic & Diluted Earnings per Share	($6.76)	($1.28)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	749.40M	744.06M	727.02M	712.82M	701.78M	685.56M
Normalized Net Operating Profit after Tax (NOPAT)	-1,008	-112	590	1,023	1,644	1,817	1,419
Normalized NOPAT Margin	-7.06%	-0.81%	4.15%	6.53%	9.42%	10.55%	8.39%
Pre Tax Income Margin	-47.64%	-2.28%	4.75%	14.99%	8.17%	6.35%	7.54%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-15.28	-1.12	16.00	79.20	19.05	5.69	6.47
NOPAT to Interest Expense	-11.11	-1.79	12.64	26.61	16.89	6.55	5.25
EBIT Less CapEx to Interest Expense	-18.87	-8.93	5.44	60.10	3.73	0.58	1.35
NOPAT Less CapEx to Interest Expense	-14.71	-9.60	2.09	7.51	1.58	1.45	0.13
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-55.82%	54.30%	63.91%	22.44%	36.10%	58.77%	254.30%
Augmented Payout Ratio	-55.82%	51.65%	103.14%	76.14%	122.45%	159.97%	364.09%

This table displays calculated financial ratios and metrics derived from Corteva's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.95%	6.15%	-3.31%	-6.73%	-3.09%	-8.03%	1.11%	-10.19%	7.31%	-1.67%	5.63%
EBITDA Growth	-22.63%	-4.64%	-11.96%	60.00%	186.17%	17.58%	51.34%	156.25%	-40.41%	24.19%	21.20%
EBIT Growth	-166.01%	14.14%	-13.18%	-2.12%	-56.29%	-35.19%	20.41%	-46.89%	156.71%	56.79%	32.19%
NOPAT Growth	63.01%	20.41%	16.51%	40.90%	-509.18%	-29.35%	13.45%	-94.09%	37.30%	41.15%	12.17%
Net Income Growth	-132.92%	5.64%	-26.23%	3.05%	-373.58%	-29.38%	47.28%	-63.84%	84.46%	55.08%	24.62%
EPS Growth	-131.82%	6.41%	-24.81%	2.17%	-400.00%	-27.71%	51.00%	-68.89%	85.71%	58.33%	27.15%
Operating Cash Flow Growth	69.46%	-21.28%	-26.78%	96.08%	30.29%	-68.65%	-33.99%	-8.57%	21.27%	19.23%	111.15%
Free Cash Flow Firm Growth	-1,077.94%	-361.59%	-11,949.34%	-170.80%	-19.96%	162.53%	181.40%	114.20%	188.15%	25.17%	-13.11%
Invested Capital Growth	5.93%	13.05%	14.84%	13.20%	6.32%	-4.07%	-3.45%	-2.85%	-5.95%	-5.03%	-2.02%
Revenue Q/Q Growth	37.74%	27.69%	23.77%	-57.15%	43.13%	21.18%	36.06%	-61.94%	71.02%	11.04%	46.16%
EBITDA Q/Q Growth	320.50%	223.66%	38.57%	-105.97%	1,677.50%	234.08%	78.36%	-97.78%	1,571.11%	87.77%	74.08%
EBIT Q/Q Growth	55.82%	583.23%	44.49%	-133.10%	32.38%	300.38%	168.45%	-140.38%	126.10%	454.05%	126.34%
NOPAT Q/Q Growth	93.16%	3,678.93%	53.67%	-115.72%	29.54%	376.75%	146.75%	-126.89%	77.24%	1,034.39%	96.09%
Net Income Q/Q Growth	83.84%	1,230.19%	19.70%	-144.35%	21.07%	268.53%	149.65%	-149.34%	92.51%	1,782.05%	100.61%
EPS Q/Q Growth	84.78%	1,285.71%	20.48%	-145.00%	22.22%	271.43%	151.67%	-150.33%	93.42%	2,000.00%	102.11%
Operating Cash Flow Q/Q Growth	324.47%	-164.04%	124.52%	-112.93%	7,556.19%	-179.91%	109.60%	-121.27%	8,428.07%	-144.43%	144.90%
Free Cash Flow Firm Q/Q Growth	-1.95%	-100.29%	-1.33%	-30.88%	54.84%	200.72%	31.91%	-77.17%	180.42%	48.25%	-8.43%
Invested Capital Q/Q Growth	-8.21%	23.98%	0.09%	-0.61%	-13.80%	11.87%	0.74%	0.00%	-16.54%	12.95%	3.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.38%	43.26%	48.11%	36.45%	36.17%	43.23%	52.26%	32.72%	37.25%	46.98%	54.58%
EBITDA Margin	11.53%	19.80%	22.17%	-3.09%	34.04%	25.31%	33.18%	1.93%	18.90%	31.97%	38.07%
Operating Margin	-0.47%	17.98%	21.51%	-9.15%	-4.51%	13.85%	24.82%	-19.78%	3.24%	18.23%	27.15%
EBIT Margin	-4.37%	16.52%	19.29%	-14.90%	-7.04%	11.64%	22.97%	-24.38%	3.72%	18.56%	28.75%
Profit (Net Income) Margin	-1.39%	12.26%	11.86%	-12.28%	-6.77%	9.42%	17.28%	-22.40%	-0.98%	14.85%	20.38%
Tax Burden Percent	-2.16%	77.19%	66.14%	71.62%	77.71%	87.76%	78.92%	82.31%	-44.32%	83.67%	72.95%
Interest Burden Percent	-1,467.66%	96.16%	92.97%	115.03%	123.75%	92.16%	95.30%	111.64%	59.46%	95.61%	97.20%
Effective Tax Rate	-6.61%	21.78%	18.82%	0.00%	0.00%	21.99%	21.08%	0.00%	156.82%	14.92%	23.39%
Return on Invested Capital (ROIC)	-0.38%	9.11%	11.25%	-4.08%	-2.25%	6.39%	11.59%	-8.09%	-1.29%	9.61%	12.86%
ROIC Less NNEP Spread (ROIC-NNEP)	0.82%	3.20%	-25.11%	-11.93%	8.58%	4.34%	6.22%	-14.18%	-8.37%	8.40%	11.51%
Return on Net Nonoperating Assets (RNNOA)	-0.09%	0.18%	-0.89%	-0.91%	-0.42%	0.52%	0.63%	-1.83%	0.16%	0.81%	0.89%
Return on Equity (ROE)	-0.47%	9.30%	10.36%	-5.00%	-2.67%	6.91%	12.22%	-9.92%	-1.12%	10.42%	13.75%
Cash Return on Invested Capital (CROIC)	0.10%	-6.94%	-7.57%	-5.47%	0.20%	8.89%	8.62%	7.08%	11.19%	10.52%	7.85%
Operating Return on Assets (OROA)	-1.79%	6.65%	7.95%	-6.17%	-2.83%	4.40%	9.07%	-9.54%	1.50%	7.29%	11.87%
Return on Assets (ROA)	-0.57%	4.94%	4.89%	-5.08%	-2.72%	3.56%	6.82%	-8.77%	-0.40%	5.83%	8.41%
Return on Common Equity (ROCE)	-0.47%	9.21%	10.27%	-4.95%	-2.64%	6.84%	12.10%	-9.83%	-1.11%	10.32%	13.62%
Return on Equity Simple (ROE_SIMPLE)	0.00%	4.65%	3.57%	3.75%	0.00%	2.31%	3.61%	2.86%	0.00%	4.74%	0.00%
Net Operating Profit after Tax (NOPAT)	-19	687	1,055	-166	-117	485	1,197	-322	-73	685	1,343
NOPAT Margin	-0.50%	14.06%	17.46%	-6.41%	-3.15%	10.80%	19.59%	-13.84%	-1.84%	15.51%	20.80%
Net Nonoperating Expense Percent (NNEP)	-1.20%	5.91%	36.36%	7.85%	-10.82%	2.05%	5.37%	6.10%	7.09%	1.20%	1.34%
Return On Investment Capital (ROIC_SIMPLE)	-0.07%	-	-	-	-0.42%	-	-	-	-0.27%	2.39%	4.51%
Cost of Revenue to Revenue	65.62%	56.74%	51.89%	63.55%	63.83%	56.77%	47.74%	67.28%	62.75%	53.02%	45.42%
SG&A Expenses to Revenue	19.97%	14.86%	17.29%	25.87%	19.83%	16.38%	17.24%	28.85%	18.48%	17.00%	17.91%
R&D to Revenue	8.89%	6.47%	5.44%	12.93%	9.63%	7.39%	5.84%	14.96%	9.18%	7.58%	5.81%
Operating Expenses to Revenue	34.85%	25.29%	26.60%	45.60%	40.68%	29.39%	27.44%	52.49%	34.01%	28.75%	27.43%
Earnings before Interest and Taxes (EBIT)	-167	807	1,166	-386	-261	523	1,404	-567	148	820	1,856
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	441	967	1,340	-80	1,262	1,137	2,028	45	752	1,412	2,458
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.62	1.66	1.53	1.42	1.33	1.64	1.49	1.65	1.65	1.78	1.96
Price to Tangible Book Value (P/TBV)	6.84	8.57	7.06	7.19	6.95	8.52	6.90	8.10	8.69	8.24	7.47
Price to Revenue (P/Rev)	2.35	2.39	2.29	2.07	1.94	2.41	2.22	2.45	2.32	2.56	2.96
Price to Earnings (P/E)	35.77	36.05	43.58	38.44	45.42	72.70	41.87	58.56	43.16	37.84	36.29
Dividend Yield	1.27%	1.24%	1.33%	1.50%	1.31%	1.09%	1.19%	1.11%	1.16%	1.06%	0.91%
Earnings Yield	2.80%	2.77%	2.29%	2.60%	2.20%	1.38%	2.39%	1.71%	2.32%	2.64%	2.76%
Enterprise Value to Invested Capital (EV/IC)	1.67	1.58	1.48	1.38	1.34	1.57	1.44	1.58	1.66	1.71	1.91
Enterprise Value to Revenue (EV/Rev)	2.24	2.59	2.46	2.30	1.93	2.60	2.40	2.66	2.29	2.69	3.05
Enterprise Value to EBITDA (EV/EBITDA)	9.91	20.07	20.46	23.41	8.87	25.11	12.91	13.58	9.79	10.70	11.24
Enterprise Value to EBIT (EV/EBIT)	26.02	28.61	30.17	28.09	25.08	41.98	31.63	40.29	25.72	25.11	23.23
Enterprise Value to NOPAT (EV/NOPAT)	29.34	31.62	25.38	21.19	21.78	32.43	27.74	37.10	31.70	31.11	32.50
Enterprise Value to Operating Cash Flow (EV/OCF)	22.89	157.78	0.00	15.55	6.37	0.00	0.00	0.00	8.95	8.49	8.28
Enterprise Value to Free Cash Flow (EV/FCFF)	1,738.05	0.00	0.00	0.00	703.19	17.28	16.45	21.94	14.34	15.85	24.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.05	0.19	0.20	0.24	0.10	0.19	0.19	0.23	0.11	0.17	0.14
Long-Term Debt to Equity	0.05	0.05	0.09	0.09	0.09	0.10	0.10	0.08	0.08	0.07	0.06
Financial Leverage	-0.11	0.06	0.04	0.08	-0.05	0.12	0.10	0.13	-0.02	0.10	0.08
Leverage Ratio	1.66	1.70	1.62	1.66	1.68	1.75	1.65	1.69	1.70	1.73	1.61
Compound Leverage Factor	-24.37	1.64	1.51	1.91	2.08	1.62	1.57	1.88	1.01	1.66	1.57
Debt to Total Capital	4.87%	16.29%	16.72%	19.10%	8.96%	15.65%	15.67%	18.62%	10.11%	14.27%	12.19%
Short-Term Debt to Total Capital	0.09%	12.27%	9.51%	11.83%	0.71%	7.25%	7.47%	12.19%	2.81%	8.01%	6.52%
Long-Term Debt to Total Capital	4.78%	4.02%	7.21%	7.27%	8.25%	8.41%	8.20%	6.43%	7.31%	6.26%	5.66%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.76%	0.00%	0.00%	0.00%	0.78%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.89%	0.78%	0.76%	0.77%	0.87%	0.81%	0.80%	0.79%	0.90%	0.85%	0.81%
Common Equity to Total Capital	94.24%	82.93%	82.52%	80.13%	90.16%	83.54%	83.53%	80.59%	88.99%	84.88%	87.00%
Debt to EBITDA	0.33	2.20	2.52	3.53	0.66	2.66	1.51	1.75	0.68	0.96	0.78
Net Debt to EBITDA	-0.53	1.40	1.24	2.08	-0.10	1.64	0.85	0.95	-0.15	0.46	0.29
Long-Term Debt to EBITDA	0.32	0.54	1.09	1.34	0.61	1.43	0.79	0.61	0.49	0.42	0.36
Debt to NOPAT	0.98	3.46	3.13	3.20	1.63	3.44	3.24	4.79	2.21	2.80	2.25
Net Debt to NOPAT	-1.58	2.21	1.54	1.88	-0.24	2.12	1.82	2.59	-0.49	1.33	0.84
Long-Term Debt to NOPAT	0.96	0.85	1.35	1.22	1.50	1.85	1.69	1.65	1.60	1.23	1.05
Altman Z-Score	2.02	1.89	2.06	1.76	1.67	1.91	2.14	1.95	1.97	2.10	2.75
Noncontrolling Interest Sharing Ratio	0.93%	0.93%	0.92%	0.95%	0.95%	0.95%	0.93%	0.96%	0.98%	0.98%	0.94%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.56	1.39	1.66	1.58	1.56	1.51	1.72	1.50	1.45	1.44	1.68
Quick Ratio	0.84	0.79	1.02	0.86	0.79	0.84	1.07	0.88	0.85	0.90	1.14
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,331	-2,666	-2,702	-3,536	-1,597	1,667	2,199	502	1,408	2,087	1,911
Operating Cash Flow to CapEx	2,072.07%	-2,192.72%	820.20%	-64.81%	1,006.30%	-1,886.49%	235.09%	-37.01%	2,622.65%	-2,243.62%	802.54%
Free Cash Flow to Firm to Interest Expense	-36.98	-86.01	-32.95	-60.96	-25.76	40.66	33.32	7.61	23.46	57.97	36.75
Operating Cash Flow to Interest Expense	166.92	-106.81	9.90	-1.81	126.27	-136.20	8.12	-1.73	158.23	-117.17	36.42
Operating Cash Flow Less CapEx to Interest Expense	158.86	-111.68	8.70	-4.60	113.73	-143.41	4.67	-6.39	152.20	-122.39	31.88
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.40	0.41	0.41	0.40	0.38	0.39	0.39	0.40	0.39	0.41
Accounts Receivable Turnover	3.32	2.22	2.35	2.70	3.08	2.03	2.17	2.51	3.03	2.08	2.11
Inventory Turnover	1.74	1.81	2.10	1.72	1.45	1.52	1.80	1.57	1.55	1.65	2.03
Fixed Asset Turnover	4.07	4.12	4.07	4.08	4.03	3.97	4.00	3.90	4.03	4.05	4.14
Accounts Payable Turnover	2.31	2.74	2.96	2.57	2.16	2.56	2.84	2.53	2.29	2.48	2.62
Days Sales Outstanding (DSO)	109.91	164.13	155.13	135.25	118.54	179.79	168.13	145.15	120.50	175.64	173.07
Days Inventory Outstanding (DIO)	209.69	201.44	173.90	212.80	252.23	240.25	202.54	232.89	236.16	221.54	180.04
Days Payable Outstanding (DPO)	157.76	133.04	123.11	141.77	168.79	142.31	128.58	144.29	159.33	147.06	139.35
Cash Conversion Cycle (CCC)	161.85	232.54	205.93	206.29	201.97	277.73	242.09	233.75	197.34	250.12	213.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	23,431	29,049	29,075	28,898	24,911	27,867	28,073	28,074	23,430	26,465	27,505
Invested Capital Turnover	0.77	0.65	0.64	0.64	0.71	0.59	0.59	0.58	0.70	0.62	0.62
Increase / (Decrease) in Invested Capital	1,312	3,353	3,757	3,370	1,480	-1,182	-1,002	-824	-1,481	-1,402	-568
Enterprise Value (EV)	39,159	45,914	43,083	39,893	33,258	43,742	40,489	44,273	38,789	45,322	52,438
Market Capitalization	41,030	42,464	40,228	35,867	33,384	40,642	37,595	40,697	39,148	43,142	50,842
Book Value per Share	$35.41	$35.91	$36.88	$35.54	$35.53	$35.53	$36.13	$35.73	$34.61	$35.42	$37.98
Tangible Book Value per Share	$8.40	$6.95	$8.01	$7.03	$6.82	$6.84	$7.82	$7.26	$6.55	$7.64	$9.98
Total Capital	26,848	30,867	31,774	31,481	27,768	29,648	30,145	30,695	26,733	28,610	29,780
Total Debt	1,307	5,028	5,313	6,014	2,489	4,640	4,724	5,716	2,703	4,083	3,629
Total Long-Term Debt	1,283	1,241	2,290	2,290	2,291	2,492	2,471	1,975	1,953	1,792	1,687
Net Debt	-2,110	3,210	2,614	3,546	-368	2,859	2,652	3,095	-600	1,938	1,354
Capital Expenditures (CapEx)	290	151	99	162	778	296	228	308	362	188	236
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,760	7,154	7,268	7,347	3,307	6,321	6,700	6,473	2,292	5,388	6,289
Debt-free Net Working Capital (DFNWC)	6,075	8,885	9,884	9,709	6,049	7,979	8,659	8,966	5,461	7,397	8,430
Net Working Capital (NWC)	6,051	5,098	6,861	5,985	5,851	5,831	6,406	5,225	4,711	5,106	6,488
Net Nonoperating Expense (NNE)	34	88	338	152	134	62	141	199	-34	29	27
Net Nonoperating Obligations (NNO)	-2,110	3,210	2,614	3,431	-368	2,859	2,652	3,095	-600	1,938	1,354
Total Depreciation and Amortization (D&A)	608	160	174	306	1,523	614	624	612	604	592	602
Debt-free, Cash-free Net Working Capital to Revenue	15.81%	40.33%	41.46%	42.36%	19.20%	37.55%	39.64%	38.91%	13.56%	32.01%	36.61%
Debt-free Net Working Capital to Revenue	34.80%	50.09%	56.38%	55.98%	35.12%	47.40%	51.23%	53.89%	32.30%	43.94%	49.08%
Net Working Capital to Revenue	34.67%	28.74%	39.14%	34.51%	33.97%	34.64%	37.90%	31.41%	27.86%	30.33%	37.77%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.07)	$0.84	$1.00	($0.45)	($0.35)	$0.60	$1.51	($0.76)	($0.04)	$0.95	$1.92
Adjusted Weighted Average Basic Shares Outstanding	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M
Adjusted Diluted Earnings per Share	($0.07)	$0.83	$1.00	($0.45)	($0.35)	$0.60	$1.51	($0.76)	($0.05)	$0.95	$1.92
Adjusted Weighted Average Diluted Shares Outstanding	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M
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	712.82M	710.87M	709.76M	704.73M	701.78M	696.98M	692.25M	687.29M	685.56M	682.17M	679.10M
Normalized Net Operating Profit after Tax (NOPAT)	32	713	1,104	-165	52	544	1,270	-300	153	704	1,403
Normalized NOPAT Margin	0.82%	14.59%	18.26%	-6.35%	1.40%	12.10%	20.78%	-12.88%	3.84%	15.93%	21.74%
Pre Tax Income Margin	64.08%	15.89%	17.93%	-17.14%	-8.71%	10.73%	21.89%	-27.21%	2.21%	17.75%	27.94%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.64	26.03	14.22	-6.66	-4.21	12.76	21.27	-8.59	2.47	22.78	35.69
NOPAT to Interest Expense	-0.53	22.15	12.87	-2.86	-1.89	11.83	18.14	-4.88	-1.22	19.02	25.83
EBIT Less CapEx to Interest Expense	-12.69	21.16	13.01	-9.45	-16.76	5.54	17.82	-13.26	-3.57	17.56	31.15
NOPAT Less CapEx to Interest Expense	-8.59	17.28	11.66	-5.65	-14.43	4.61	14.69	-9.55	-7.25	13.80	21.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	36.10%	35.55%	45.78%	45.93%	58.77%	77.76%	49.34%	63.93%	254.30%	247.74%	229.04%
Augmented Payout Ratio	122.45%	121.01%	124.06%	128.99%	159.97%	210.16%	151.32%	195.19%	364.09%	336.89%	301.63%

Key Financial Trends

Examining Corteva's (NYSE: CTVA) financial data from Q3 2022 through Q2 2025 reveals several key trends in profitability, cash flows, and balance sheet strength, providing a comprehensive picture of the company's financial health and performance trajectory.

Positive Developments:

Net income has significantly improved from losses and modest profits in 2022 and early 2023 to robust gains by 2025, with consolidated net income reaching approximately $2.63 billion in Q2 2025, indicating strong operational recovery and growth.
Operating revenue increased steadily over the period, reaching $6.46 billion in Q2 2025 from $2.78 billion in Q3 2022, reflecting successful sales expansion and market penetration.
Gross profit improved substantially alongside revenue growth, signaling effective cost management and operational leverage.
Cash & equivalents climbed moderately to $2.07 billion in Q2 2025 from $2.20 billion in Q3 2022, with overall liquidity position supported by controlled capital expenditures and cash flow management.
Adjusted operating cash flow from continuing operations reached $1.92 billion in Q2 2025, a notable turnaround from negative values in prior years, highlighting improved cash conversion from earnings.
The company has been investing steadily in property, plant, and equipment, with capital expenditures balanced and indicating ongoing commitment to productive capacity and future growth.
Reduction in total liabilities from $25.43 billion in early 2023 to approximately $15.61 billion in Q2 2025 suggests prudent debt management and strengthening of the balance sheet.
Total common equity increased to about $25.91 billion by Q2 2025, up from approximately $24.79 billion in early 2023, supporting sustained shareholder value creation.
Interest expenses appear well controlled relative to earnings, improving the company’s financial cost profile.
Strategic equity repurchases continue, reflecting confidence from management and support for earnings per share growth.

Neutral Observations:

Inventories have fluctuated but remain elevated, requiring watching for potential impacts on working capital efficiency.
Days sales outstanding (accounts receivable) have generally increased, which may impact cash flow conversion timing but is manageable within overall financials.
The company continues to carry significant goodwill and intangible assets, consistent with its industry and past acquisitions strategy.
Divestitures and acquisitions are happening intermittently; their net impact requires ongoing monitoring as the company reshapes its portfolio.
The company maintains a healthy dividend payout, with stable quarterly dividends reported, supporting shareholder returns without compromising reinvestment needs.

Potential Risks and Challenges:

Operating expenses, including SG&A and R&D, remain substantial, requiring continued cost control to maintain margin improvements.
Tax expense volatility is notable, occasionally showing negative or large swings, which could impact net income consistency.
Net cash from operating activities was negative in several quarters before turning positive, indicating prior operational cash flow challenges.
The company had intermittent quarters with consolidated net losses and negative earnings per share impacting investor sentiment historically.
Large swings in cash from financing activities suggest variability in debt issuance and repayment cycles that may affect financial flexibility.
Significant restructuring charges in some quarters could indicate ongoing operational challenges or transformation costs.

Summary: Corteva has shown a strong financial recovery and growth trajectory over the analyzed period, with improving profitability, revenue growth, and a healthier balance sheet. While some operational costs remain high and certain financial metrics are volatile, the company’s sustained investments, strategic capital management, and strengthening cash flows position it well for continued expansion. Investors should watch upcoming quarterly results for confirmation of these positive trends and any signs of margin stabilization or improvements in working capital efficiency.

08/09/25 05:16 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Corteva's Financials

When does Corteva's financial year end?

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

How has Corteva's net income changed over the last 6 years?

Corteva's net income appears to be on a downward trend, with a most recent value of $919 million in 2024, falling from -$5.03 billion in 2018. The previous period was $747 million in 2023. See where experts think Corteva is headed by visiting Corteva's forecast page.

What is Corteva's operating income?

Corteva's total operating income in 2024 was $1.81 billion, based on the following breakdown:

Total Gross Profit: $7.38 billion
Total Operating Expenses: $5.57 billion

How has Corteva's revenue changed over the last 6 years?

Over the last 6 years, Corteva's total revenue changed from $14.29 billion in 2018 to $16.91 billion in 2024, a change of 18.3%.

How much debt does Corteva have?

Corteva's total liabilities were at $16.80 billion at the end of 2024, a 5.2% decrease from 2023, and a 75.0% decrease since 2018.

How much cash does Corteva have?

In the past 6 years, Corteva's cash and equivalents has ranged from $1.76 billion in 2019 to $4.54 billion in 2018, and is currently $3.11 billion as of their latest financial filing in 2024.

How has Corteva's book value per share changed over the last 6 years?

Over the last 6 years, Corteva's book value per share changed from 0.00 in 2018 to 34.61 in 2024, a change of 3,461.3%.

Related Companies

This page (NYSE:CTVA) was last updated on 8/9/2025 by MarketBeat.com Staff

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Corteva (CTVA) Financials

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Corteva (CTVA) Financials

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