Nutrien Ltd. key statistics and ratios

In fiscal 2025, Nutrien Ltd. had return on equity of 9.1%, an operating margin of 13.9%, debt equal to 42.4% of equity and a current ratio of 1.34. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Nutrien Ltd.: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	15.3%	27.5%	27.4%	25.1%	34.0%	40.7%	29.2%	29.0%	31.0%
Operating margin	4.6%	2.1%	9.3%	4.3%	17.3%	28.5%	9.4%	7.1%	13.9%
Net margin	7.2%	18.2%	4.9%	2.2%	11.4%	20.2%	4.3%	2.6%	8.4%
Free-cash-flow margin	12.6%	3.3%	9.6%	9.1%	7.6%	15.5%	9.1%	5.8%	7.9%
Return on equity	3.9%	21.8%	4.2%	2.0%	13.7%	31.0%	4.9%	2.7%	9.1%
Return on assets	1.9%	11.4%	2.1%	1.0%	6.5%	14.7%	2.3%	1.3%	4.4%
Asset turnover	0.27	0.63	0.44	0.44	0.57	0.72	0.54	0.50	0.52
Current ratio	2.07	1.40	1.17	1.35	1.11	1.14	1.17	1.15	1.34
Debt to equity	53.5%	37.7%	43.8%	45.7%	40.7%	41.5%	44.7%	46.9%	42.4%
Interest cover (operating income ÷ interest)	—	—	—	—	9.7x	20.7x	3.4x	2.4x	5.0x
Effective tax rate	—	—	24.2%	−20.2%	23.7%	25.0%	34.3%	38.4%	24.7%
Capital spending as % of revenue	14.3%	7.2%	8.6%	6.8%	6.4%	5.9%	8.3%	7.8%	7.0%
Free cash flow ÷ net income	175.5%	18.1%	195.3%	413.9%	66.9%	76.5%	210.7%	224.0%	93.7%
Dividends ÷ net income	100.9%	26.6%	103.0%	224.4%	33.1%	13.5%	82.0%	157.3%	46.8%
Dividends and buybacks ÷ free cash flow	57.5%	425.3%	152.4%	62.6%	98.6%	94.8%	78.4%	82.4%	75.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · December 31, 2025

What it owns · $52.3bn

Short-term assets $14.7bnLonger-term assets $37.6bn

What it owes, and who funded it · $52.3bn

Short-term liabilities $11.0bnLonger-term liabilities $15.9bnShareholders' equity $25.3bn

Short-term assets cover short-term liabilities $14.7bn of assets due within a year against $11.0bn of liabilities due within a year.
Short-term assets cover long-term liabilities $14.7bn short-term assets against $15.9bn of longer-dated liabilities.
More cash than debt $701m of cash against $10.7bn of debt.
Debt below 40% of shareholders' equity Debt is 42% of equity.
Debt burden no higher than five years ago Debt to equity moved from 45% to 42% over five years.
A year's operating cash flow covers at least 20% of debt $4.0bn of operating cash flow against $10.7bn of debt.
Operating profit covers interest at least five times over Operating income of $3.7bn against $746m of interest.

From Nutrien Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Nutrien Ltd.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Nutrien Ltd.