CVR Energy (CVI) Financials

$34.26 -0.28 (-0.82%)

Closing price 05/19/2026 03:59 PM Eastern

Extended Trading

$33.84 -0.41 (-1.20%)

As of 05/19/2026 07:28 PM Eastern

Annual Income Statements for CVR Energy

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	170	25	263	259	380	-256	25	463	769	7.00	27
Consolidated Net Income / (Loss)	298	9.00	258	366	362	-320	74	644	878	45	90
Net Income / (Loss) Continuing Operations	298	9.00	258	366	362	-320	74	644	878	45	90
Total Pre-Tax Income	382	-11	38	445	491	-415	66	801	1,085	19	80
Total Operating Income	422	70	145	532	580	-333	87	963	1,123	58	182
Total Gross Profit	501	190	272	661	702	-189	218	1,130	1,273	205	346
Total Revenue	5,433	4,782	5,988	7,124	6,364	3,930	7,242	10,896	9,247	7,610	7,162
Operating Revenue	5,433	4,782	5,988	7,124	6,364	3,930	7,242	10,896	9,247	7,610	7,162
Total Cost of Revenue	4,932	4,592	5,716	6,463	5,662	4,119	7,024	9,766	7,974	7,405	6,816
Operating Cost of Revenue	4,932	4,592	5,716	6,463	5,662	4,119	7,024	9,766	7,974	7,405	6,816
Total Operating Expenses	79	120	127	129	122	144	131	167	150	147	164
Selling, General & Admin Expense	99	110	113	112	117	86	119	149	141	139	148
Depreciation Expense	7.70	9.00	11	11	9.00	10	9.00	7.00	7.00	8.00	9.00
Other Operating Expenses / (Income)	-	-	-	-	-	-	-	-	2.00	0.00	7.00
Total Other Income / (Expense), net	-39	-81	-107	-87	-89	-82	-21	-162	-38	-39	-102
Interest & Investment Income	1.00	-	-	0.00	0.00	41	-36	-85	-52	-77	-108
Other Income / (Expense), net	8.10	2.00	2.00	15	13	7.00	15	-77	14	38	6.00
Income Tax Expense	85	-20	-220	79	129	-95	-8.00	157	207	-26	-10
Net Income / (Loss) Attributable to Noncontrolling Interest	128	-16	-5.00	107	-18	-64	49	181	109	38	63
Basic Earnings per Share	$1.95	$0.28	$3.03	$2.80	$3.78	($2.54)	$0.25	$4.60	$7.65	$0.06	$0.27
Weighted Average Basic Shares Outstanding	86.80M	86.80M	86.80M	92.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
Diluted Earnings per Share	$1.95	$0.28	$3.03	$2.80	$3.78	($2.54)	$0.25	$4.60	$7.65	$0.06	$0.27
Weighted Average Diluted Shares Outstanding	86.80M	86.80M	86.80M	92.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
Weighted Average Basic & Diluted Shares Outstanding	86.80M	86.80M	86.80M	92.50M	100.50M	100.50M	100.53M	100.53M	100.53M	100.53M	100.53M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	353	91	82	21	-124	28	-123	-114	374	-110	-192
Consolidated Net Income / (Loss)	354	97	90	38	-122	39	-105	-90	401	-116	-160
Net Income / (Loss) Continuing Operations	354	97	90	38	-122	39	-105	-90	401	-116	-160
Total Pre-Tax Income	438	120	107	12	-128	28	-154	-132	489	-123	-189
Total Operating Income	445	124	123	27	-113	21	-131	-103	512	-96	-145
Total Gross Profit	485	160	161	57	-71	58	-91	-66	560	-57	-103
Total Revenue	2,522	2,203	1,863	1,967	1,833	1,947	1,646	1,761	1,944	1,811	1,980
Operating Revenue	2,522	2,203	1,863	1,967	1,833	1,947	1,646	1,761	1,944	1,811	1,980
Total Cost of Revenue	2,037	2,043	1,702	1,910	1,904	1,889	1,737	1,827	1,384	1,868	2,083
Operating Cost of Revenue	2,037	2,043	1,702	1,910	1,904	1,889	1,737	1,827	1,384	1,868	2,083
Total Operating Expenses	40	36	38	30	42	37	40	37	48	39	42
Selling, General & Admin Expense	38	32	36	28	40	35	37	36	42	33	39
Depreciation Expense	1.00	3.00	1.00	2.00	2.00	3.00	2.00	2.00	2.00	3.00	2.00
Other Operating Expenses / (Income)	-	-	-	-	-	-	1.00	-	4.00	-	1.00
Total Other Income / (Expense), net	-7.00	-4.00	-16	-15	-15	7.00	-23	-29	-23	-27	-44
Interest & Investment Income	-11	-7.00	-20	-19	-18	-20	-25	-30	-25	-28	-58
Other Income / (Expense), net	4.00	3.00	4.00	4.00	3.00	27	2.00	1.00	2.00	1.00	14
Income Tax Expense	84	23	17	-26	-6.00	-11	-49	-42	88	-7.00	-29
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	6.00	8.00	17	2.00	11	18	24	27	-6.00	32
Basic Earnings per Share	$3.51	$0.91	$0.81	$0.21	($1.24)	$0.28	($1.22)	($1.14)	$3.72	($1.09)	($1.91)
Weighted Average Basic Shares Outstanding	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
Diluted Earnings per Share	$3.51	$0.91	$0.81	$0.21	($1.24)	$0.28	($1.22)	($1.14)	$3.72	($1.09)	($1.91)
Weighted Average Diluted Shares Outstanding	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
Weighted Average Basic & Diluted Shares Outstanding	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	11	-29	-254	186	-16	22	-157	0.00	669	-199	-476
Net Cash From Operating Activities	537	267	248	628	747	90	396	967	948	404	144
Net Cash From Continuing Operating Activities	537	267	248	628	747	90	396	966	948	404	144
Net Income / (Loss) Continuing Operations	298	9.00	258	366	362	-320	74	644	878	45	90
Consolidated Net Income / (Loss)	298	9.00	258	366	362	-320	74	644	878	45	90
Depreciation Expense	164	193	258	274	287	278	279	288	298	298	403
Non-Cash Adjustments To Reconcile Net Income	-2.90	16	30	25	33	87	-20	84	42	3.00	72
Changes in Operating Assets and Liabilities, net	75	49	-298	-37	65	45	63	-50	-270	58	-421
Net Cash From Investing Activities	-151	-201	-276	-108	-121	-423	-238	-271	-239	-121	-362
Net Cash From Continuing Investing Activities	-151	-201	-276	-108	-121	-423	-238	-271	-239	-121	-362
Purchase of Property, Plant & Equipment	-219	-133	-120	-102	-121	-124	-224	-191	-205	-179	-185
Sale and/or Maturity of Investments	68	-	-	-	-	0.00	4.00	3.00	23	101	17
Other Investing Activities, net	-	1.00	-80	-7.00	-37	-160	-5.00	-83	-57	-43	-194
Net Cash From Financing Activities	-375	-95	-226	-334	-642	355	-315	-696	-40	-482	-258
Net Cash From Continuing Financing Activities	-375	-95	-226	-334	-642	355	-315	-696	-40	-482	-258
Repayment of Debt	-1.30	-508	-3.00	-3.00	-5.00	-517	-592	-72	-9.00	-612	-178
Payment of Dividends	-373	-174	-223	-331	-637	-121	-272	-612	-631	-195	-80
Issuance of Debt	0.00	629	-	0.00	0.00	1,000	550	0.00	600	325	0.00

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	138	290	-542	-58	-52	453	-292	-99	74	-159	1.00
Net Cash From Operating Activities	370	-36	177	81	48	98	-195	176	163	-	64
Net Cash From Continuing Operating Activities	370	-36	177	81	48	98	-195	176	163	-	64
Net Income / (Loss) Continuing Operations	354	97	90	38	-123	40	-105	-90	401	-116	-160
Consolidated Net Income / (Loss)	354	97	90	38	-123	40	-105	-90	401	-116	-160
Depreciation Expense	80	77	76	73	75	74	68	78	112	145	79
Non-Cash Adjustments To Reconcile Net Income	-110	115	12	1.00	8.00	-18	7.00	19	36	10	46
Changes in Operating Assets and Liabilities, net	46	-325	-1.00	-31	88	2.00	-165	169	-386	-39	99
Net Cash From Investing Activities	-51	-58	-55	-74	-35	43	-82	-185	-42	-53	-43
Net Cash From Continuing Investing Activities	-51	-58	-55	-74	-35	43	-82	-185	-42	-53	-43
Purchase of Property, Plant & Equipment	-50	-55	-47	-43	-34	-55	-51	-41	-38	-55	-47
Sale of Property, Plant & Equipment	1.00	-	1.00	-	-	-	6.00	3.00	-1.00	-	0.00
Sale and/or Maturity of Investments	1.00	2.00	3.00	1.00	1.00	4.00	4.00	1.00	1.00	11	4.00
Other Investing Activities, net	-3.00	-4.00	-12	-32	-2.00	95	-41	-148	-4.00	-1.00	0.00
Net Cash From Financing Activities	-181	384	-664	-65	-65	312	-15	-90	-47	-106	-20
Net Cash From Continuing Financing Activities	-181	384	-664	-65	-65	312	-15	-90	-47	-106	-20
Repayment of Debt	-3.00	-4.00	-603	-1.00	-2.00	-6.00	-3.00	-75	-21	-79	-1,017
Payment of Dividends	-178	-212	-61	-64	-63	-7.00	-12	-15	-26	-27	-3.00
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	1,000

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,299	4,050	3,807	4,000	3,905	3,978	3,906	4,119	4,707	4,263	3,706
Total Current Assets	1,274	1,316	1,078	1,293	1,274	1,402	1,369	1,593	2,179	1,824	1,267
Cash & Equivalents	765	736	482	668	652	667	510	510	581	987	511
Accounts Receivable	107	152	179	169	182	178	299	358	286	295	235
Inventories, net	290	349	369	380	373	298	484	624	604	502	472
Prepaid Expenses	104	68	48	76	67	259	76	101	59	16	29
Other Current Assets	-	-	-	-	-	-	-	-	649	24	20
Plant, Property, & Equipment, net	1,967	2,672	2,588	2,430	0.00	0.00	2,273	2,247	0.00	2,176	2,050
Total Noncurrent Assets	59	63	141	277	2,631	2,576	264	279	2,528	263	389
Other Noncurrent Operating Assets	18	16	141	277	2,631	2,576	264	279	2,528	263	389
Total Liabilities & Shareholders' Equity	3,299	4,050	3,807	4,000	3,905	3,978	3,906	4,119	4,707	4,263	3,706
Total Liabilities	1,699	2,341	2,103	2,057	2,237	2,759	3,136	3,328	3,669	3,375	2,808
Total Current Liabilities	485	566	544	496	596	659	1,156	1,439	1,682	1,098	706
Accounts Payable	262	262	334	320	412	282	409	497	530	538	415
Other Current Liabilities	26	219	210	176	179	369	747	936	546	560	291
Total Noncurrent Liabilities	1,214	1,775	1,559	1,561	1,641	2,100	1,980	1,889	1,987	2,277	2,102
Long-Term Debt	541	1,163	1,164	1,167	1,190	1,683	1,654	1,585	1,579	1,907	1,751
Noncurrent Deferred & Payable Income Tax Liabilities	640	580	386	380	396	368	268	249	327	277	269
Other Noncurrent Operating Liabilities	34	32	9.00	14	55	49	58	55	81	93	82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,601	1,710	1,704	1,943	1,668	1,219	770	791	1,038	888	898
Total Preferred & Common Equity	984	858	919	1,286	1,393	1,019	553	531	847	703	730
Preferred Stock	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Common Equity	984	858	919	1,286	1,393	1,019	553	531	847	703	730
Common Stock	1,176	1,199	1,198	1,475	1,508	1,511	1,511	1,509	1,509	1,509	1,509
Retained Earnings	-189	-338	-277	-187	-113	-490	-956	-976	-660	-804	-777
Treasury Stock	-2.30	-2.30	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00
Noncontrolling Interest	616	852	785	657	275	200	217	260	191	185	168

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

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	4,206	4,208	4,217	4,421	4,093	4,003	3,878	4,251	3,984	3,992	3,861
Total Current Assets	1,658	1,637	1,646	1,887	1,555	1,492	1,408	1,649	1,392	1,478	1,460
Cash & Equivalents	618	601	751	889	644	586	534	695	596	670	512
Accounts Receivable	320	330	300	316	253	298	281	320	245	253	329
Inventories, net	632	609	524	610	601	543	498	585	503	509	553
Prepaid Expenses	88	97	71	72	36	36	25	15	25	23	25
Other Current Assets	-	-	-	-	21	29	70	34	23	23	41
Plant, Property, & Equipment, net	2,267	2,241	2,235	2,227	2,210	2,192	2,164	2,167	2,155	2,106	2,037
Total Noncurrent Assets	281	330	336	307	328	319	306	435	437	408	364
Other Noncurrent Operating Assets	281	330	336	307	328	319	306	435	437	408	364
Total Liabilities & Shareholders' Equity	4,206	4,208	4,217	4,421	4,093	4,003	3,878	4,251	3,984	3,992	3,861
Total Liabilities	3,435	3,279	3,240	3,269	3,026	2,962	3,022	3,480	3,318	2,951	3,126
Total Current Liabilities	1,531	1,347	1,285	1,311	1,043	1,022	1,055	1,254	1,191	755	1,015
Accounts Payable	557	512	466	566	551	523	464	620	462	437	532
Other Current Liabilities	974	835	819	745	484	491	583	634	729	318	483
Total Noncurrent Liabilities	1,904	1,932	1,955	1,958	1,983	1,940	1,967	2,226	2,127	2,196	2,111
Long-Term Debt	1,587	1,584	1,584	1,583	1,577	1,576	1,574	1,906	1,849	1,827	1,773
Noncurrent Deferred & Payable Income Tax Liabilities	245	251	273	276	322	278	309	228	186	274	241
Other Noncurrent Operating Liabilities	72	97	98	99	84	86	84	92	92	95	97
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	771	929	977	1,152	1,067	1,041	856	771	666	1,041	735
Total Preferred & Common Equity	560	675	755	957	879	849	675	580	466	840	538
Preferred Stock	-	-	-	-	-	-	-	-	-	0.00	0.00
Total Common Equity	560	675	755	957	879	849	675	580	466	840	538
Common Stock	1,509	1,509	1,509	1,509	1,509	1,509	1,509	1,509	1,509	1,509	1,509
Retained Earnings	-947	-832	-752	-550	-628	-658	-832	-927	-1,041	-667	-969
Treasury Stock	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00	-2.00
Noncontrolling Interest	211	254	222	195	188	192	181	191	200	201	197

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-40.36%	-11.97%	25.22%	18.97%	-10.67%	-38.25%	84.27%	50.46%	-15.13%	-17.70%	-5.89%
EBITDA Growth	-1.13%	-55.58%	52.83%	102.72%	7.19%	-105.45%	893.75%	208.14%	22.23%	-72.54%	50.00%
EBIT Growth	-3.70%	-83.24%	104.17%	272.11%	8.41%	-154.97%	131.29%	768.63%	28.33%	-91.56%	95.83%
NOPAT Growth	63.50%	-85.08%	1,909.13%	-55.55%	-2.27%	-154.51%	141.85%	693.73%	17.37%	-84.88%	49.05%
Net Income Growth	-3.75%	-96.98%	2,766.67%	41.86%	-1.09%	-188.40%	123.13%	770.27%	36.34%	-94.87%	100.00%
EPS Growth	-2.50%	-85.64%	982.14%	-7.59%	35.00%	-167.20%	109.84%	1,740.00%	66.30%	-99.22%	350.00%
Operating Cash Flow Growth	-16.16%	-50.26%	-7.12%	153.23%	18.95%	-87.95%	340.00%	144.19%	-1.96%	-57.38%	-64.36%
Free Cash Flow Firm Growth	52.75%	-240.29%	225.53%	-47.69%	72.61%	-140.25%	260.90%	91.36%	-83.00%	591.44%	-112.89%
Invested Capital Growth	-5.41%	41.98%	11.97%	2.35%	-9.46%	1.45%	-14.67%	-2.19%	41.13%	-31.11%	18.25%
Revenue Q/Q Growth	-13.27%	7.71%	4.17%	2.08%	-2.59%	-10.25%	15.89%	5.49%	-4.91%	-3.25%	-1.86%
EBITDA Q/Q Growth	-1.16%	49.04%	16.58%	13.52%	-6.38%	-132.88%	81.43%	20.04%	-7.12%	-17.23%	-10.86%
EBIT Q/Q Growth	-1.65%	967.47%	7.93%	30.18%	-9.19%	-146.97%	256.92%	28.59%	-9.11%	-45.14%	-43.20%
NOPAT Q/Q Growth	-5.22%	314.07%	503.94%	-30.27%	-13.21%	-141.30%	274.19%	21.41%	-8.50%	-8.05%	-35.43%
Net Income Q/Q Growth	-2.71%	114.29%	573.63%	-24.51%	-15.62%	-50.23%	346.67%	29.58%	-7.87%	-56.31%	-63.27%
EPS Q/Q Growth	-0.51%	187.50%	531.25%	-40.04%	-7.80%	-76.39%	189.29%	36.90%	-2.55%	-91.30%	-83.54%
Operating Cash Flow Q/Q Growth	-25.63%	86.19%	-33.88%	40.49%	-1.06%	-42.31%	-3.41%	9.64%	-12.47%	49.63%	-40.50%
Free Cash Flow Firm Q/Q Growth	-35.93%	23.33%	88.54%	60.61%	10.37%	-42.07%	9.93%	6.46%	-84.36%	949.68%	-641.71%
Invested Capital Q/Q Growth	5.25%	-1.39%	23.17%	4.94%	-0.54%	-3.03%	2.41%	7.59%	43.12%	-4.41%	-2.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	9.22%	3.97%	4.54%	9.28%	11.03%	-4.81%	3.01%	10.37%	13.77%	2.69%	4.83%
EBITDA Margin	10.98%	5.54%	6.76%	11.52%	13.83%	-1.22%	5.26%	10.77%	15.52%	5.18%	8.25%
Operating Margin	7.76%	1.46%	2.42%	7.47%	9.11%	-8.47%	1.20%	8.84%	12.14%	0.76%	2.54%
EBIT Margin	7.91%	1.51%	2.45%	7.68%	9.32%	-8.30%	1.41%	8.13%	12.30%	1.26%	2.63%
Profit (Net Income) Margin	5.48%	0.19%	4.31%	5.14%	5.69%	-8.14%	1.02%	5.91%	9.50%	0.59%	1.26%
Tax Burden Percent	77.90%	-81.82%	678.95%	82.25%	73.73%	77.11%	112.12%	80.40%	80.92%	236.84%	112.50%
Interest Burden Percent	88.97%	-15.28%	25.85%	81.35%	82.80%	127.30%	64.71%	90.41%	95.43%	19.79%	42.55%
Effective Tax Rate	22.10%	0.00%	-578.95%	17.75%	26.27%	0.00%	-12.12%	19.60%	19.08%	-136.84%	-12.50%
Return on Invested Capital (ROIC)	21.27%	2.70%	43.59%	18.13%	18.38%	-10.47%	4.69%	40.90%	40.26%	6.16%	10.38%
ROIC Less NNEP Spread (ROIC-NNEP)	53.81%	-22.16%	-88.09%	6.01%	5.79%	-21.56%	2.52%	29.19%	37.97%	-1.13%	-0.25%
Return on Net Nonoperating Assets (RNNOA)	-3.09%	-2.15%	-28.47%	1.95%	1.67%	-11.70%	2.75%	41.61%	55.75%	-1.48%	-0.30%
Return on Equity (ROE)	18.18%	0.54%	15.12%	20.07%	20.05%	-22.17%	7.44%	82.51%	96.01%	4.67%	10.08%
Cash Return on Invested Capital (CROIC)	26.83%	-32.00%	32.30%	15.81%	28.31%	-11.90%	20.52%	43.12%	6.15%	43.00%	-6.35%
Operating Return on Assets (OROA)	12.71%	1.96%	3.74%	14.01%	15.00%	-8.27%	2.59%	22.08%	25.76%	2.14%	4.72%
Return on Assets (ROA)	8.81%	0.24%	6.57%	9.38%	9.16%	-8.12%	1.88%	16.05%	19.90%	1.00%	2.26%
Return on Common Equity (ROCE)	10.95%	0.30%	7.87%	12.14%	14.88%	-18.52%	5.88%	57.30%	72.33%	3.76%	8.09%
Return on Equity Simple (ROE_SIMPLE)	30.26%	1.05%	28.07%	28.46%	25.99%	-31.40%	13.38%	121.28%	103.66%	6.40%	0.00%
Net Operating Profit after Tax (NOPAT)	328	49	984	438	428	-233	98	774	909	137	205
NOPAT Margin	6.05%	1.02%	16.44%	6.14%	6.72%	-5.93%	1.35%	7.11%	9.83%	1.81%	2.86%
Net Nonoperating Expense Percent (NNEP)	-32.53%	24.86%	131.68%	12.12%	12.59%	11.09%	2.17%	11.71%	2.29%	7.28%	10.63%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	32.50%	28.20%	4.89%	7.73%
Cost of Revenue to Revenue	90.78%	96.03%	95.46%	90.72%	88.97%	104.81%	96.99%	89.63%	86.23%	97.31%	95.17%
SG&A Expenses to Revenue	1.82%	2.30%	1.89%	1.57%	1.84%	2.19%	1.64%	1.37%	1.52%	1.83%	2.07%
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	1.46%	2.51%	2.12%	1.81%	1.92%	3.66%	1.81%	1.53%	1.62%	1.93%	2.29%
Earnings before Interest and Taxes (EBIT)	430	72	147	547	593	-326	102	886	1,137	96	188
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	597	265	405	821	880	-48	381	1,174	1,435	394	591
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.20	1.00	1.49	1.23	1.42	0.75	1.95	4.89	3.42	2.68	3.50
Price to Tangible Book Value (P/TBV)	1.25	1.05	1.49	1.23	1.42	0.75	1.95	4.89	3.42	2.68	3.50
Price to Revenue (P/Rev)	0.22	0.18	0.23	0.22	0.31	0.19	0.15	0.24	0.31	0.25	0.36
Price to Earnings (P/E)	6.97	34.32	5.22	6.09	5.20	0.00	43.04	5.61	3.76	269.13	94.72
Dividend Yield	14.70%	20.24%	12.65%	15.95%	15.51%	36.15%	22.42%	13.39%	6.95%	10.67%	0.00%
Earnings Yield	14.36%	2.91%	19.16%	16.43%	19.22%	0.00%	2.32%	17.82%	26.58%	0.37%	1.06%
Enterprise Value to Invested Capital (EV/IC)	1.13	1.00	1.19	1.12	1.26	0.89	1.27	2.10	1.77	1.65	1.85
Enterprise Value to Revenue (EV/Rev)	0.31	0.45	0.47	0.38	0.44	0.51	0.34	0.36	0.51	0.39	0.55
Enterprise Value to EBITDA (EV/EBITDA)	2.85	8.04	7.01	3.33	3.18	0.00	6.40	3.35	3.27	7.62	6.71
Enterprise Value to EBIT (EV/EBIT)	3.95	29.60	19.32	4.99	4.71	0.00	23.89	4.45	4.12	31.26	21.09
Enterprise Value to NOPAT (EV/NOPAT)	5.17	43.49	2.88	6.24	6.54	0.00	24.98	5.09	5.16	21.85	19.37
Enterprise Value to Operating Cash Flow (EV/OCF)	3.16	7.98	11.45	4.35	3.74	22.10	6.15	4.07	4.95	7.43	27.54
Enterprise Value to Free Cash Flow (EV/FCFF)	4.10	0.00	3.89	7.16	4.24	0.00	5.71	4.83	33.79	3.13	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.42	0.68	0.68	0.60	0.72	1.39	2.15	2.01	2.11	2.16	1.95
Long-Term Debt to Equity	0.34	0.68	0.68	0.60	0.71	1.38	2.15	2.00	1.52	2.15	1.95
Financial Leverage	-0.06	0.10	0.32	0.32	0.29	0.54	1.09	1.43	1.47	1.32	1.21
Leverage Ratio	2.06	2.22	2.30	2.14	2.19	2.73	3.96	5.14	4.83	4.66	4.46
Compound Leverage Factor	1.84	-0.34	0.60	1.74	1.81	3.48	2.56	4.65	4.60	0.92	1.90
Debt to Total Capital	29.37%	40.48%	40.59%	37.52%	41.74%	58.11%	68.23%	66.79%	67.79%	68.36%	66.10%
Short-Term Debt to Total Capital	5.51%	0.00%	0.00%	0.00%	0.17%	0.27%	0.00%	0.25%	18.80%	0.43%	0.00%
Long-Term Debt to Total Capital	23.86%	40.48%	40.59%	37.52%	41.56%	57.84%	68.23%	66.54%	48.99%	67.94%	66.10%
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	27.20%	29.64%	27.37%	21.13%	9.61%	6.87%	8.95%	10.92%	5.93%	6.59%	6.34%
Common Equity to Total Capital	43.43%	29.87%	32.04%	41.35%	48.66%	35.02%	22.81%	22.29%	26.28%	25.04%	27.56%
Debt to EBITDA	1.12	4.39	2.87	1.42	1.36	-35.23	4.34	1.36	1.52	4.87	2.96
Net Debt to EBITDA	-0.17	1.59	1.68	0.61	0.62	-21.33	3.00	0.92	1.12	2.37	2.10
Long-Term Debt to EBITDA	0.91	4.39	2.87	1.42	1.35	-35.06	4.34	1.35	1.10	4.84	2.96
Debt to NOPAT	2.03	23.73	1.18	2.67	2.79	-7.25	16.96	2.05	2.40	13.97	8.55
Net Debt to NOPAT	-0.30	8.60	0.69	1.14	1.27	-4.39	11.73	1.40	1.77	6.78	6.06
Long-Term Debt to NOPAT	1.65	23.73	1.18	2.67	2.78	-7.22	16.96	2.05	1.74	13.88	8.55
Altman Z-Score	2.70	1.56	2.16	2.87	2.83	0.94	1.87	3.54	3.17	2.13	2.53
Noncontrolling Interest Sharing Ratio	39.79%	44.35%	47.94%	39.54%	25.81%	16.45%	20.97%	30.56%	24.66%	19.52%	19.76%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.63	2.32	1.98	2.61	2.14	2.13	1.18	1.11	1.30	1.66	1.79
Quick Ratio	1.80	1.57	1.22	1.69	1.40	1.28	0.70	0.60	0.52	1.17	1.06
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	414	-581	729	382	659	-265	427	816	139	959	-125
Operating Cash Flow to CapEx	245.56%	200.75%	206.67%	621.78%	889.29%	73.17%	182.49%	506.28%	462.44%	225.70%	77.84%
Free Cash Flow to Firm to Interest Expense	8.56	-7.00	6.69	3.74	6.46	-2.04	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	11.09	3.22	2.28	6.16	7.32	0.69	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	6.57	1.61	1.17	5.17	6.50	-0.25	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.61	1.30	1.52	1.83	1.61	1.00	1.84	2.72	2.10	1.70	1.80
Accounts Receivable Turnover	37.65	36.88	36.19	40.94	36.26	21.83	30.36	33.17	28.72	26.20	27.03
Inventory Turnover	15.92	14.37	15.92	17.26	15.04	12.28	17.96	17.63	12.99	13.39	14.00
Fixed Asset Turnover	2.80	2.06	2.28	2.84	0.00	0.00	0.00	4.82	0.00	0.00	3.39
Accounts Payable Turnover	18.38	17.56	19.19	19.76	15.47	11.87	20.33	21.56	15.53	13.87	14.30
Days Sales Outstanding (DSO)	9.70	9.90	10.09	8.91	10.07	16.72	12.02	11.00	12.71	13.93	13.51
Days Inventory Outstanding (DIO)	22.93	25.40	22.93	21.15	24.27	29.73	20.32	20.71	28.11	27.26	26.08
Days Payable Outstanding (DPO)	19.85	20.79	19.02	18.47	23.59	30.75	17.95	16.93	23.50	26.32	25.52
Cash Conversion Cycle (CCC)	12.77	14.51	14.00	11.60	10.74	15.70	14.38	14.78	17.31	14.87	14.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,501	2,131	2,386	2,442	2,211	2,243	1,914	1,872	2,642	1,820	2,138
Invested Capital Turnover	3.52	2.63	2.65	2.95	2.74	1.76	3.48	5.76	4.10	3.41	3.63
Increase / (Decrease) in Invested Capital	-86	630	255	56	-231	32	-329	-42	770	-822	330
Enterprise Value (EV)	1,698	2,131	2,839	2,732	2,795	1,989	2,437	3,939	4,688	3,001	3,965
Market Capitalization	1,181	858	1,372	1,576	1,977	765	1,076	2,598	2,893	1,884	2,557
Book Value per Share	$11.33	$9.88	$10.58	$12.79	$13.86	$10.14	$5.50	$5.28	$8.43	$6.99	$7.26
Tangible Book Value per Share	$10.86	$9.41	$10.58	$12.79	$13.86	$10.14	$5.50	$5.28	$8.43	$6.99	$7.26
Total Capital	2,266	2,872	2,868	3,110	2,863	2,910	2,424	2,382	3,223	2,807	2,649
Total Debt	666	1,163	1,164	1,167	1,195	1,691	1,654	1,591	2,185	1,919	1,751
Total Long-Term Debt	541	1,163	1,164	1,167	1,190	1,683	1,654	1,585	1,579	1,907	1,751
Net Debt	-100	421	682	499	543	1,024	1,144	1,081	1,604	932	1,240
Capital Expenditures (CapEx)	219	133	120	101	84	123	217	191	205	179	185
Debt-free, Cash-free Net Working Capital (DFCFNWC)	149	14	52	129	31	84	-297	-350	522	-249	50
Debt-free Net Working Capital (DFNWC)	914	750	534	797	683	751	213	160	1,103	738	561
Net Working Capital (NWC)	789	750	534	797	678	743	213	154	497	726	561
Net Nonoperating Expense (NNE)	31	40	726	72	66	87	24	130	31	92	115
Net Nonoperating Obligations (NNO)	-100	421	682	499	543	1,024	1,144	1,081	1,604	932	1,240
Total Depreciation and Amortization (D&A)	167	193	258	274	287	278	279	288	298	298	403
Debt-free, Cash-free Net Working Capital to Revenue	2.74%	0.29%	0.87%	1.81%	0.49%	2.14%	-4.10%	-3.21%	5.65%	-3.27%	0.70%
Debt-free Net Working Capital to Revenue	16.82%	15.68%	8.92%	11.19%	10.73%	19.11%	2.94%	1.47%	11.93%	9.70%	7.83%
Net Working Capital to Revenue	14.52%	15.68%	8.92%	11.19%	10.65%	18.91%	2.94%	1.41%	5.37%	9.54%	7.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.95	$0.28	$2.70	$3.12	$3.78	($2.54)	$0.25	$4.60	$7.65	$0.06	$0.27
Adjusted Weighted Average Basic Shares Outstanding	86.80M	86.83M	86.83M	100.53M	100.53M	100.53M	100.50M	100.50M	100.50M	100.50M	100.50M
Adjusted Diluted Earnings per Share	$1.95	$0.28	$2.70	$3.12	$3.78	($2.54)	$0.25	$4.60	$7.65	$0.06	$0.27
Adjusted Weighted Average Diluted Shares Outstanding	86.80M	86.83M	86.83M	100.53M	100.53M	100.53M	100.50M	100.50M	100.50M	100.50M	100.50M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$2.70	$3.12	$3.78	($2.54)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.83M	86.80M	86.80M	92.50M	100.50M	100.50M	100.53M	100.53M	100.53M	100.53M	100.53M
Normalized Net Operating Profit after Tax (NOPAT)	307	50	104	442	425	-200	63	783	910	41	127
Normalized NOPAT Margin	5.65%	1.04%	1.73%	6.21%	6.67%	-5.08%	0.87%	7.19%	9.85%	0.53%	1.78%
Pre Tax Income Margin	7.04%	-0.23%	0.63%	6.25%	7.72%	-10.56%	0.91%	7.35%	11.73%	0.25%	1.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	8.88	0.87	1.35	5.36	5.81	-2.51	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	6.79	0.59	9.03	4.29	4.19	-1.79	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	4.36	-0.73	0.25	4.37	4.99	-3.45	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	2.27	-1.01	7.93	3.30	3.37	-2.74	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	125.39%	1,933.33%	86.43%	90.44%	175.97%	-37.81%	367.57%	95.03%	71.87%	433.33%	88.89%
Augmented Payout Ratio	125.39%	1,933.33%	86.43%	90.44%	175.97%	-40.00%	368.92%	96.89%	71.87%	433.33%	88.89%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,530,599.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,530,599.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-1.91
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.56%	-17.80%	-18.50%	-12.03%	-27.32%	-11.62%	-11.65%	-10.47%	6.06%	-6.99%	20.29%
EBITDA Growth	192.27%	-35.03%	-49.38%	-65.45%	-106.62%	-40.20%	-130.05%	-123.08%	1,888.57%	-59.02%	14.75%
EBIT Growth	323.58%	-47.30%	-61.86%	-86.40%	-124.50%	-62.20%	-201.57%	-429.03%	567.27%	-297.92%	-1.55%
NOPAT Growth	279.74%	-45.64%	-61.87%	-51.83%	-121.99%	-70.82%	-188.64%	-184.33%	630.80%	-329.74%	-10.69%
Net Income Growth	342.50%	-43.60%	-65.25%	-77.38%	-134.46%	-59.79%	-216.67%	-336.84%	428.69%	-397.44%	-52.38%
EPS Growth	281.52%	-18.02%	-58.25%	-83.72%	-135.33%	-69.23%	-250.62%	-642.86%	400.00%	-489.29%	-56.56%
Operating Cash Flow Growth	137.18%	-136.36%	-28.34%	-77.93%	-87.03%	372.22%	-210.17%	117.28%	239.58%	0.00%	132.82%
Free Cash Flow Firm Growth	13.39%	-395.84%	-94.97%	-217.13%	-154.05%	227.10%	-980.94%	133.38%	191.80%	-146.01%	-75.80%
Invested Capital Growth	6.09%	41.13%	5.02%	12.65%	3.14%	-31.11%	-1.29%	-5.89%	15.44%	18.25%	0.71%
Revenue Q/Q Growth	12.79%	-12.65%	-15.43%	5.58%	-6.81%	6.22%	-15.46%	6.99%	10.39%	-6.84%	9.33%
EBITDA Q/Q Growth	75.75%	-61.44%	-0.49%	-48.77%	-133.65%	448.57%	-150.00%	60.66%	2,708.33%	-92.01%	-204.00%
EBIT Q/Q Growth	96.93%	-71.71%	0.00%	-75.59%	-454.84%	143.64%	-368.75%	20.93%	603.92%	-118.48%	-37.89%
NOPAT Q/Q Growth	102.61%	-72.13%	3.22%	-17.36%	-192.51%	136.98%	-413.50%	21.37%	682.33%	-116.01%	-51.04%
Net Income Q/Q Growth	110.71%	-72.60%	-7.22%	-57.78%	-421.05%	131.97%	-369.23%	14.29%	545.56%	-128.93%	-37.93%
EPS Q/Q Growth	172.09%	-74.07%	-10.99%	-74.07%	-690.48%	122.58%	-535.71%	6.56%	426.32%	-129.30%	-75.23%
Operating Cash Flow Q/Q Growth	0.82%	-109.73%	591.67%	-54.24%	-40.74%	104.17%	-298.98%	190.26%	-7.39%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	107.05%	-364.04%	101.11%	-2,024.12%	4.46%	720.90%	-107.72%	172.91%	162.76%	-415.59%	70.92%
Invested Capital Q/Q Growth	1.99%	43.12%	-24.00%	1.54%	-6.62%	-4.41%	8.90%	-3.18%	14.54%	-2.73%	-6.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	19.23%	7.26%	8.64%	2.90%	-3.87%	2.98%	-5.53%	-3.75%	28.81%	-3.15%	-5.20%
EBITDA Margin	20.98%	9.26%	10.90%	5.29%	-1.91%	6.27%	-3.71%	-1.36%	32.20%	2.76%	-2.63%
Operating Margin	17.64%	5.63%	6.60%	1.37%	-6.16%	1.08%	-7.96%	-5.85%	26.34%	-5.30%	-7.32%
EBIT Margin	17.80%	5.76%	6.82%	1.58%	-6.00%	2.47%	-7.84%	-5.79%	26.44%	-5.25%	-6.62%
Profit (Net Income) Margin	14.04%	4.40%	4.83%	1.93%	-6.66%	2.00%	-6.38%	-5.11%	20.63%	-6.41%	-8.08%
Tax Burden Percent	80.82%	80.83%	84.11%	316.67%	95.31%	139.29%	68.18%	68.18%	82.00%	94.31%	84.66%
Interest Burden Percent	97.55%	94.49%	84.25%	38.71%	116.36%	58.33%	119.38%	129.41%	95.14%	129.47%	144.27%
Effective Tax Rate	19.18%	19.17%	15.89%	-216.67%	0.00%	-39.29%	0.00%	0.00%	18.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	77.34%	18.64%	25.00%	19.32%	-18.10%	5.12%	-20.65%	-14.87%	76.85%	-13.47%	-19.32%
ROIC Less NNEP Spread (ROIC-NNEP)	76.66%	18.40%	23.60%	14.13%	-23.03%	5.89%	-21.88%	-16.46%	75.14%	-17.99%	-24.05%
Return on Net Nonoperating Assets (RNNOA)	66.30%	27.01%	22.75%	12.82%	-19.98%	7.76%	-25.62%	-21.70%	87.34%	-21.76%	-39.48%
Return on Equity (ROE)	143.64%	45.65%	47.75%	32.15%	-38.08%	12.88%	-46.26%	-36.57%	164.19%	-35.22%	-58.80%
Cash Return on Invested Capital (CROIC)	49.48%	6.15%	32.88%	20.05%	4.87%	43.00%	-5.57%	-5.47%	1.13%	-6.35%	5.87%
Operating Return on Assets (OROA)	40.13%	12.08%	14.49%	3.28%	-11.38%	4.18%	-13.89%	-10.42%	49.04%	-9.43%	-12.23%
Return on Assets (ROA)	31.64%	9.23%	10.27%	4.02%	-12.62%	3.40%	-11.30%	-9.20%	38.26%	-11.51%	-14.93%
Return on Common Equity (ROCE)	113.31%	34.40%	37.18%	25.55%	-30.95%	10.37%	-36.72%	-28.17%	131.13%	-28.26%	-43.65%
Return on Equity Simple (ROE_SIMPLE)	99.58%	0.00%	80.66%	68.20%	15.26%	0.00%	-25.86%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	360	100	103	86	-79	29	-92	-72	420	-67	-102
NOPAT Margin	14.26%	4.55%	5.55%	4.35%	-4.32%	1.50%	-5.57%	-4.09%	21.60%	-3.71%	-5.13%
Net Nonoperating Expense Percent (NNEP)	0.68%	0.24%	1.40%	5.19%	4.93%	-0.77%	1.24%	1.59%	1.71%	4.52%	4.73%
Return On Investment Capital (ROIC_SIMPLE)	-	3.11%	-	-	-	1.04%	-3.43%	-2.87%	14.64%	-2.54%	-4.05%
Cost of Revenue to Revenue	80.77%	92.74%	91.36%	97.10%	103.87%	97.02%	105.53%	103.75%	71.19%	103.15%	105.20%
SG&A Expenses to Revenue	1.51%	1.45%	1.93%	1.42%	2.18%	1.80%	2.25%	2.04%	2.16%	1.82%	1.97%
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	1.59%	1.63%	2.04%	1.53%	2.29%	1.90%	2.43%	2.10%	2.47%	2.15%	2.12%
Earnings before Interest and Taxes (EBIT)	449	127	127	31	-110	48	-129	-102	514	-95	-131
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	529	204	203	104	-35	122	-61	-24	626	50	-52
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.18	3.42	3.93	3.11	3.43	2.68	3.36	5.79	4.37	3.50	6.29
Price to Tangible Book Value (P/TBV)	3.18	3.42	3.93	3.11	3.43	2.68	3.36	5.79	4.37	3.50	6.29
Price to Revenue (P/Rev)	0.31	0.31	0.39	0.31	0.29	0.25	0.26	0.38	0.50	0.36	0.45
Price to Earnings (P/E)	3.86	3.76	5.27	4.83	33.07	269.13	0.00	0.00	22.23	94.72	0.00
Dividend Yield	7.60%	6.95%	5.82%	7.62%	8.68%	10.67%	10.31%	7.45%	0.00%	0.00%	0.00%
Earnings Yield	25.92%	26.58%	18.98%	20.72%	3.02%	0.37%	0.00%	0.00%	4.50%	1.06%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.13	1.77	2.28	1.88	1.86	1.65	1.69	2.16	2.29	1.85	2.43
Enterprise Value to Revenue (EV/Rev)	0.40	0.51	0.52	0.45	0.45	0.39	0.45	0.58	0.69	0.55	0.65
Enterprise Value to EBITDA (EV/EBITDA)	2.55	3.27	3.71	3.68	7.45	7.62	25.79	2,076.12	7.58	6.71	8.07
Enterprise Value to EBIT (EV/EBIT)	3.14	4.12	4.93	5.22	20.25	31.26	0.00	0.00	15.18	21.09	26.03
Enterprise Value to NOPAT (EV/NOPAT)	3.96	5.16	6.19	6.23	23.72	21.85	0.00	0.00	15.85	19.37	37.05
Enterprise Value to Operating Cash Flow (EV/OCF)	3.63	4.95	5.22	6.47	13.13	7.43	104.76	32.69	20.77	27.54	12.01
Enterprise Value to Free Cash Flow (EV/FCFF)	4.43	33.79	7.12	9.92	38.78	3.13	0.00	0.00	217.35	0.00	41.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.37	2.11	1.49	1.52	1.85	2.16	2.47	2.78	1.76	1.95	2.41
Long-Term Debt to Equity	1.37	1.52	1.48	1.51	1.84	2.15	2.47	2.78	1.76	1.95	2.41
Financial Leverage	0.86	1.47	0.96	0.91	0.87	1.32	1.17	1.32	1.16	1.21	1.64
Leverage Ratio	4.49	4.83	4.16	4.07	4.13	4.66	4.54	4.68	4.15	4.46	5.39
Compound Leverage Factor	4.38	4.56	3.50	1.58	4.81	2.72	5.42	6.06	3.95	5.78	7.77
Debt to Total Capital	57.88%	67.79%	59.77%	60.34%	64.89%	68.36%	71.20%	73.52%	63.70%	66.10%	70.69%
Short-Term Debt to Total Capital	0.00%	18.80%	0.30%	0.30%	0.33%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	57.88%	48.99%	59.46%	60.04%	64.56%	67.94%	71.20%	73.52%	63.70%	66.10%	70.69%
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	7.13%	5.93%	7.09%	7.31%	7.42%	6.59%	7.13%	7.95%	7.01%	6.34%	7.85%
Common Equity to Total Capital	34.99%	26.28%	33.14%	32.34%	27.69%	25.04%	21.67%	18.53%	29.29%	27.56%	21.45%
Debt to EBITDA	1.02	1.52	1.28	1.52	3.32	4.87	14.66	924.50	2.76	2.96	2.96
Net Debt to EBITDA	0.45	1.12	0.76	0.96	2.20	2.37	9.32	626.50	1.75	2.10	2.10
Long-Term Debt to EBITDA	1.02	1.10	1.27	1.52	3.31	4.84	14.66	924.50	2.76	2.96	2.96
Debt to NOPAT	1.59	2.40	2.14	2.58	10.59	13.97	-13.89	-8.10	5.76	8.55	13.57
Net Debt to NOPAT	0.70	1.77	1.27	1.62	7.01	6.78	-8.83	-5.49	3.65	6.06	9.65
Long-Term Debt to NOPAT	1.59	1.74	2.13	2.56	10.54	13.88	-13.89	-8.10	5.76	8.55	13.57
Altman Z-Score	3.08	2.46	2.88	2.61	2.20	2.10	1.78	1.90	2.98	2.28	2.27
Noncontrolling Interest Sharing Ratio	21.11%	24.66%	22.14%	20.52%	18.73%	19.52%	20.62%	22.96%	20.14%	19.76%	25.76%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.44	1.30	1.49	1.46	1.33	1.66	1.32	1.17	1.96	1.79	1.44
Quick Ratio	0.92	0.52	0.86	0.87	0.77	1.17	0.81	0.71	1.22	1.06	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	254	-670	7.46	-144	-137	851	-66	48	126	-397	-116
Operating Cash Flow to CapEx	755.10%	-65.45%	384.78%	188.37%	141.18%	178.18%	-433.33%	463.16%	417.95%	0.00%	136.17%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.25	2.10	2.13	2.08	1.90	1.70	1.77	1.80	1.85	1.80	1.85
Accounts Receivable Turnover	30.58	28.72	30.27	28.61	26.35	26.20	25.80	26.47	27.33	27.03	23.10
Inventory Turnover	13.40	12.99	12.83	14.42	13.64	13.39	12.55	14.07	13.58	14.00	12.59
Fixed Asset Turnover	4.33	0.00	3.97	3.86	3.58	0.00	3.38	3.31	3.42	3.39	3.57
Accounts Payable Turnover	14.82	15.53	14.60	15.56	14.68	13.87	12.71	14.94	15.18	14.30	12.43
Days Sales Outstanding (DSO)	11.94	12.71	12.06	12.76	13.85	13.93	14.14	13.79	13.35	13.51	15.80
Days Inventory Outstanding (DIO)	27.23	28.11	28.45	25.32	26.75	27.26	29.09	25.95	26.88	26.08	29.00
Days Payable Outstanding (DPO)	24.62	23.50	25.00	23.47	24.87	26.32	28.72	24.43	24.05	25.52	29.35
Cash Conversion Cycle (CCC)	14.55	17.31	15.51	14.61	15.73	14.87	14.51	15.30	16.18	14.07	15.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,846	2,642	2,008	2,039	1,904	1,820	1,982	1,919	2,198	2,138	1,996
Invested Capital Turnover	5.42	4.10	4.50	4.45	4.20	3.41	3.71	3.63	3.56	3.63	3.77
Increase / (Decrease) in Invested Capital	106	770	96	229	58	-822	-26	-120	294	330	14
Enterprise Value (EV)	3,933	4,688	4,586	3,830	3,544	3,001	3,352	4,152	5,025	3,965	4,841
Market Capitalization	3,044	2,893	3,457	2,640	2,315	1,884	1,950	2,699	3,667	2,557	3,383
Book Value per Share	$9.52	$8.43	$8.75	$8.45	$6.71	$6.99	$5.77	$4.64	$8.36	$7.26	$5.35
Tangible Book Value per Share	$9.52	$8.43	$8.75	$8.45	$6.71	$6.99	$5.77	$4.64	$8.36	$7.26	$5.35
Total Capital	2,735	3,223	2,652	2,625	2,438	2,807	2,677	2,515	2,868	2,649	2,508
Total Debt	1,583	2,185	1,585	1,584	1,582	1,919	1,906	1,849	1,827	1,751	1,773
Total Long-Term Debt	1,583	1,579	1,577	1,576	1,574	1,907	1,906	1,849	1,827	1,751	1,773
Net Debt	694	1,604	941	998	1,048	932	1,211	1,253	1,157	1,240	1,261
Capital Expenditures (CapEx)	49	55	46	43	34	55	45	38	39	55	47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-313	522	-124	-108	-173	-249	-300	-395	53	50	-67
Debt-free Net Working Capital (DFNWC)	576	1,103	520	478	361	738	395	201	723	561	445
Net Working Capital (NWC)	576	497	512	470	353	726	395	201	723	561	445
Net Nonoperating Expense (NNE)	5.66	3.23	13	48	43	-9.75	13	18	19	49	59
Net Nonoperating Obligations (NNO)	694	1,604	941	998	1,048	932	1,211	1,253	1,157	1,240	1,261
Total Depreciation and Amortization (D&A)	80	77	76	73	75	74	68	78	112	145	79
Debt-free, Cash-free Net Working Capital to Revenue	-3.22%	5.65%	-1.41%	-1.26%	-2.20%	-3.27%	-4.06%	-5.50%	0.73%	0.70%	-0.89%
Debt-free Net Working Capital to Revenue	5.92%	11.93%	5.89%	5.59%	4.59%	9.70%	5.34%	2.80%	9.91%	7.83%	5.94%
Net Working Capital to Revenue	5.92%	5.37%	5.80%	5.49%	4.49%	9.54%	5.34%	2.80%	9.91%	7.83%	5.94%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.51	$0.91	$0.81	$0.21	($1.24)	$0.28	($1.22)	($1.14)	$3.72	($1.09)	($1.91)
Adjusted Weighted Average Basic Shares Outstanding	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
Adjusted Diluted Earnings per Share	$3.51	$0.91	$0.81	$0.21	($1.24)	$0.28	($1.22)	($1.14)	$3.72	($1.09)	($1.91)
Adjusted Weighted Average Diluted Shares Outstanding	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M	100.50M
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	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M	100.53M
Normalized Net Operating Profit after Tax (NOPAT)	360	101	104	19	-79	14	-91	-73	420	-67	-102
Normalized NOPAT Margin	14.29%	4.59%	5.60%	0.96%	-4.32%	0.72%	-5.53%	-4.13%	21.60%	-3.71%	-5.13%
Pre Tax Income Margin	17.37%	5.45%	5.74%	0.61%	-6.98%	1.44%	-9.36%	-7.50%	25.15%	-6.79%	-9.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.92%	71.87%	80.68%	88.95%	388.35%	433.33%	-97.33%	-34.89%	24.49%	88.89%	202.86%
Augmented Payout Ratio	59.92%	71.87%	80.68%	88.95%	388.35%	433.33%	-97.33%	-34.89%	24.49%	88.89%	202.86%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends in CVR Energy (NYSE: CVI) drawn from quarterly statements over the last four years. The focus is on revenue, profitability, cash flow, and the balance sheet to help retail investors gauge the company’s trajectory and risk factors.

Liquidity remains solid, with CVI typically holding around $0.6–0.7 billion in cash and cash equivalents across 2024–2025 quarters, providing a cushion for volatility in energy markets.
The company’s total assets have stayed near the $4.0 billion mark for several years (roughly $3.98–$4.00B), indicating a sizable and stable asset base.
Gross profit has appeared in multiple quarters, notably around $560 million in both 2024 Q3 and 2025 Q3, showing that CVI can generate meaningful margins when refinery conditions are favorable.
Cash flow from continuing operating activities was positive in several 2025 quarters (e.g., Q2 2025 and Q3 2025), signaling meaningful cash generation from core operations despite some quarterly profitability swings.
Earnings per share have shown positive periods historically (for example, CVI posted favorable EPS in certain quarters in 2023–2024, suggesting upside potential when market conditions align with costs and margins).
Debt levels are sizable but relatively stable, with long-term debt generally in the $1.58–$1.84 billion range, implying a levered but manageable capital structure when paired with cash flow.
Liabilities fluctuated meaningfully across periods (including a peak around mid-2025 followed by some tightening), reflecting working capital and debt management dynamics tied to energy-cycle conditions.
The PPE (plant, property & equipment, net) base remains substantial at roughly $2.1–$2.3 billion, indicating ongoing capacity and depreciation foundations that support ongoing production but also imply future capex and capex-related depreciation.
Net income attributable to common shareholders swung into the red in 2025 (about -$110 million in Q4 2025 and around -$374 million in Q3 2025), highlighting a meaningful deteriorating period for earnings seasonality and price/margin sensitivity.
Profitability deteriorated notably in the latest quarter, with Q4 2025 showing a negative gross margin (gross profit around -$57 million) and negative total pre-tax income, signaling margin compression during that period.

05/20/26 02:10 AM ETAI Generated. May Contain Errors.

CVR Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, CVR Energy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

CVR Energy's net income appears to be on an upward trend, with a most recent value of $90 million in 2025, falling from $297.80 million in 2015. The previous period was $45 million in 2024. See where experts think CVR Energy is headed by visiting CVR Energy's forecast page.

CVR Energy's total operating income in 2025 was $182 million, based on the following breakdown:

Total Gross Profit: $346 million
Total Operating Expenses: $164 million

Over the last 10 years, CVR Energy's total revenue changed from $5.43 billion in 2015 to $7.16 billion in 2025, a change of 31.8%.

CVR Energy's total liabilities were at $2.81 billion at the end of 2025, a 16.8% decrease from 2024, and a 65.3% increase since 2015.

In the past 10 years, CVR Energy's cash and equivalents has ranged from $482 million in 2017 to $987 million in 2024, and is currently $511 million as of their latest financial filing in 2025.

Over the last 10 years, CVR Energy's book value per share changed from 11.33 in 2015 to 7.26 in 2025, a change of -35.9%.

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Financial statements for NYSE:CVI last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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CVR Energy (CVI) Financials

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CVR Energy (CVI) Financials

Annual Income Statements for CVR Energy

Quarterly Income Statements for CVR Energy

Annual Cash Flow Statements for CVR Energy

Quarterly Cash Flow Statements for CVR Energy

Annual Balance Sheets for CVR Energy

Quarterly Balance Sheets for CVR Energy

Annual Metrics And Ratios for CVR Energy

Quarterly Metrics And Ratios for CVR Energy

Financials Breakdown Chart

Key Financial Trends

CVR Energy Financials - Frequently Asked Questions

When does CVR Energy's financial year end?

How has CVR Energy's net income changed over the last 10 years?

What is CVR Energy's operating income?

How has CVR Energy's revenue changed over the last 10 years?

How much debt does CVR Energy have?

How much cash does CVR Energy have?

How has CVR Energy's book value per share changed over the last 10 years?

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