CF Industries income statement

In fiscal 2025, CF Industries reported revenue of $7.08bn, up 19.3% on the year before, operating income of $2.30bn (a 32.5% margin) and net income of $1.46bn, or $8.97 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

CF Industries: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Revenue	2.6	4.0	6.1	6.1	5.5	4.7	4.3	3.7	4.1	4.4	4.6	4.1	6.5	11.2	6.6	5.9	7.1	7.7
Cost of revenue	—	—	—	—	—	—	—	2.8	3.7	3.5	3.4	3.3	4.2	5.3	4.1	3.9	4.4	4.5
Gross profit	0.8	1.2	2.9	3.1	2.5	1.8	1.5	0.8	0.4	0.9	1.2	0.8	2.4	5.9	2.5	2.1	2.7	3.3
Selling, general and administrative	0.1	0.1	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.3	0.3	0.4	0.4
Operating income	0.7	0.9	2.8	3.0	2.4	2.4	1.2	0.1	0.2	0.8	1.0	0.6	1.7	5.4	2.2	1.7	2.3	3.2
Interest expense	0.0	0.2	0.1	0.1	0.2	0.2	0.1	0.2	0.3	0.2	0.2	0.2	0.2	0.3	0.2	0.1	0.2	0.2
Income before tax	0.7	0.7	2.6	2.8	2.2	2.2	1.1	−0.2	−0.1	0.5	0.8	0.5	1.5	5.1	2.2	1.8	2.2	3.1
Income tax	0.2	0.3	0.9	1.0	0.7	0.8	0.4	−0.1	−0.6	0.1	0.1	0.0	0.3	1.2	0.4	0.3	0.4	0.6
Net income	0.4	0.3	1.5	1.8	1.5	1.4	0.7	−0.3	0.4	0.3	0.5	0.3	0.9	3.3	1.5	1.2	1.5	2.1
Diluted EPS	$1.48	$1.07	$4.40	$5.72	$4.95	$5.42	$2.96	−$1.19	$1.53	$1.24	$2.23	$1.47	$4.24	$16.38	$7.87	$6.74	$8.97	$13.43
Diluted shares (average)	246m	327m	350m	324m	296m	257m	236m	233m	234m	234m	222m	215m	216m	204m	194m	181m	162m	156m
EBITDA	0.8	1.3	3.2	3.4	2.8	2.8	1.7	0.8	1.1	1.7	1.9	1.5	2.6	6.2	3.1	2.7	3.2	4.1

US$ millions unless shown otherwise. Fiscal quarters.

CF Industries: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Revenue	1,370	1,524	1,663	1,890	1,659	1,872	1,986	2,222
Cost of revenue	926	1,000	1,091	1,135	1,027	1,107	1,240	1,077
Gross profit	444	524	572	755	632	765	746	1,145
Selling, general and administrative	78	78	84	101	88	91	103	89
Operating income	364	441	455	648	580	617	863	1,121
Interest expense	0	47	37	36	41	41	39	50
Income before tax	400	433	437	635	565	602	844	1,093
Income tax	59	41	86	143	105	107	168	224
Net income	276	328	312	386	353	404	615	727
Diluted EPS	$1.55	$1.88	$1.85	$2.37	$2.19	$2.58	$3.98	$4.73
EBITDA	593	662	676	880	797	845	1,091	1,336

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.