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CF Industries cash flow statement

In fiscal 2025, CF Industries's operations generated $2.75bn of cash; it spent $950m on capital projects, leaving free cash flow of $1.80bn. It returned $326m in dividends and $1.36bn through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations6821,1942,0792,3761,4671,4211,2076171,6311,4971,5051,2312,8733,8552,7572,2712,7522,977
Depreciation and amortisation101395416420411393480678883888875892888850869925898888
Stock-based pay7811121317171917222825304137364543
Capital spending2362582475248241,8092,4692,2114734224043095144534995189501,067
Free cash flow4469361,8321,852643−388−1,262−1,5941,1581,0751,1019222,3593,4022,2581,7531,8021,910
Free cash flow after stock pay4409281,8211,840630−405−1,279−1,6131,1411,0531,0738972,3293,3612,2211,7171,7571,867
Dividends paid192669103129256282280280280265258260306311364326314
Share buybacks——1,0005001,4091,935556004673701005391,3475801,5091,365958
Shares issued—1,150————————————————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from CF Industries's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to CF Industries.