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CVR Partners, LP (UAN) stock

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NYSE: UAN NYSE Fertilizers & Agricultural Chemicals Next results ~November 3, 2026

C+ Fundamentals grade

CVR Partners, LP is a US-listed company in the fertilizers & agricultural chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$170

Cash-flow model

Base case. Range ~$110–$230 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 24% below our base value.

Price used: $124.76, November 2, 2026

CVR Partners, LP valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds36 adding, 30 cuttingOf 1 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter CVR Partners files

Where CVR Partners, LP stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $677m, up 17.5% on a year earlier, slower than the 19.0% growth a quarter earlier. Free-cash-flow margin fell to 21.4% from 24.4% a year earlier. Operating margin widened to 28.1% from 20.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $214 a share, against a share price of $126. At that price, our model says the market is pricing in cash flow shrinking about 1.0% a year for five years, slower than the 4.9% a year revenue growth it has delivered.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

CVR Partners, LP's trailing-twelve-month revenue grew 7.3% year on year, with a free-cash-flow margin of 22.6%. Where it stands out: net margin of 16.1% ranks 2 of 11 fertilizers & agricultural chemicals companies we cover. Where it lags: change in growth rate of -10.2pp ranks 10 of 11 fertilizers & agricultural chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$170 per share in the base case (~$110–$230 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 7.4% while net income fell 16.4%: a 24pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $124.76 is 71% below our value per share of $210.
  • Strong cash generation. 22.6% of revenue turned into free cash flow, against a median of 7.4% for fertilizers & agricultural chemicals companies we cover.

Things to watch

  • Growth slowing. The growth rate is 10.2 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 5.0 points on a year ago.
  • Gross margin slipping. Gross margin is down 4.5 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 53.8% ranks 10 of 11 fertilizers & agricultural chemicals companies we cover (median 21.3%).
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 1.5% ranks 8 of 9 fertilizers & agricultural chemicals companies we cover (median 0.6%).

Latest results: FY2026 Q3

Filed November 3, 2026
Revenue
$146m, down 10.6% on a year earlier
Next report
November 3, 2026

CVR Partners' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.6%
  • 1 week+0.4%
  • 1 month-0.0%
  • This year+32.5%
  • 1 year+49.5%
  • 5 years+244.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$659M
Operating margin
20.6%
Net margin
16.1%
EPS (TTM, diluted)
$10.07

Growth

Revenue growth
+7.3%
Change in growth rate
−10.2 pts
Share count change
+0.0%

Cash

Free cash flow (TTM)
$149M
FCF margin
22.6%
Stock pay % of revenue
1.5%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

CVR Partners, LP valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 2.6% a year for five years.That is slower than the 4.4% a year revenue growth CVR Partners has delivered.

  • Priced in-2.6%
  • Last 12 months7.3%
  • 3 years a year-4.3%
  • 5 years a year4.4%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($117.75, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$170
Price used
$117.75close November 3, 2026
Implied change
▲ +40%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of CVR Partners, LP's free cash flow after stock-based pay with after-tax interest added back ($130M, FY2026 Q3 TTM), growing 2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$110–~$230 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of CVR Partners, LP's free cash flow after stock-based pay ( $130M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value CVR Partners, LP as an operating company, with every model that fits that kind of business. Cost of equity 7.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.61 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$170 ~$110–$230 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$140 ~$87–$260 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$160 ~$140–$170 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare CVR Partners, LP with Fertilizers & Agricultural Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −28%
  • Revenue growth 5 points higher ▲ +37%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +0%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $139$202$286$397$541$728
8.5% $97$143$204$283$386$518
10% $72$107$154$215$293$394

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$28.57$23.54$12.90$13.38$13.57$7.01$38.78$55.72$48.03$61.09$94.13$124.76
Market value$209m$243m$146m$152m$154m$79m$414m$590m$508m$646m$995m$1.3bn
+ Net debt (− = net cash)$75m$592m$598m−$62m$595m$606m$498m$460m$502m$478m$501m$412m
Enterprise value$284m$835m$744m$90m$749m$684m$913m$1.1bn$1.0bn$1.1bn$1.5bn$1.7bn
Multiples
Price / sales 0.7x0.7x0.4x0.4x0.4x0.2x0.8x0.7x0.7x1.2x1.6x2.0x
Price / earnings 3.4x—————5.3x2.1x2.9x10.6x10.1x12.4x
Price / free cash flow 3.4x11.2x—12.2x7.5x68.8x2.5x2.3x2.3x5.7x10.1x8.9x
EV / EBITDA 2.9x10.1x11.7x1.2x7.0x16.6x4.4x2.6x3.6x6.3x7.1x7.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

40 /100

Weak moat

How hard CVR Partners's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median 2.2% of total assets over 8 years.

  • Pricing power 0 / 20

    Gross margin has been a median 20.3%, moving by 12.7 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 14.9%; its worst year was -12.4%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 8 of 10 years, at a median 19.8% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 1.8% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

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

Forecasts and guidance

Next results: November 3, 2026, before the open.

Analysts' consensus

No analyst estimates are published for CVR Partners, LP: too few analysts cover it.

Positioning

Short interest
3.1%
of tradable shares
Days to cover
8.76
at average volume
Short interest, 1 month
−20%
to October 15, 2026
Held by institutions
54%
of shares
Held by insiders
0.3%
of shares
Employees
320
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +49.5%

$83.45 on October 31, 2025 to $124.76

ThenNowEffect
Revenue (last 12 months) $576m $677m +17.5%
Net margin 15.3% 23.7% +55.1%
P/E multiple 10.0x 8.2x −17.9%
Share count 11m 11m 0.0%

Biggest factor: net margin.

Last 3 years +116.4%

$57.64 on November 3, 2023 to $124.76

ThenNowEffect
Revenue (last 12 months) $778m $677m −13.0%
Net margin 30.5% 23.7% −22.4%
P/E multiple 2.6x 8.2x +220.6%
Share count 11m 11m 0.0%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
UAN+453%+44%−14%+27%+54%+33%
Industry peers (median)+24%+16%−17%−8%−7%+12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
UAN83%67%42%50%75%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
UAN−25%−49%−30%−24%−20%−20%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 93% from June 7, 2016 to March 18, 2020. Getting back needed a 1299% gain, reached on October 5, 2021, 566 days after the low.

Price behaviour

52-week range
$85.92 – $136.21
From 52-week high
−8.4%
vs 50-day average
−2.4%
vs 200-day average
+7.3%
Volatility (1 year)
41%
Beta vs S&P 500
-0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±3.3%
After a week
5 up, 7 down
typical move ±5.0%
After a month
9 up, 3 down
typical move ±8.2%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +5.1% +0.1% +4.0% +8.9%
April 29, 2026 −4.0% +1.0% −2.9% −6.7%
February 18, 2026 +0.5% +0.2% −6.3% +23.1%
January 26, 2026 −12.1% +0.9% −14.0% −15.3%
October 29, 2025 +3.3% −1.1% +7.9% +9.5%
July 30, 2025 +4.4% −0.5% +6.8% +3.9%
April 28, 2025 +1.2% +0.7% +1.9% +8.1%
February 18, 2025 +3.7% +0.5% +2.1% +0.8%
October 28, 2024 −0.8% +0.5% −5.6% +1.1%
July 29, 2024 +0.1% −0.4% −4.7% −8.4%
April 29, 2024 −1.6% −1.2% −0.7% +1.2%
February 20, 2024 −2.6% −0.5% −3.7% +11.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How CVR Partners, LP’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

CVR Partners, LP in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) CVR Partners, LP
$500M $550M $600M $650M $700M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $681.5M Revenue (TTM), FY24 Q1: $582.9M Revenue (TTM), FY24 Q2: $532.8M Revenue (TTM), FY24 Q3: $527.4M Revenue (TTM), FY24 Q4: $525.3M Revenue (TTM), FY25 Q1: $540.5M Revenue (TTM), FY25 Q2: $576.2M Revenue (TTM), FY25 Q3: $614.5M Revenue (TTM), FY25 Q4: $606M Revenue (TTM), FY26 Q1: $643.2M Revenue (TTM), FY26 Q2: $676.9M Revenue (TTM), FY26 Q3: $659.5M $659.5M

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $681.5M
FY24 Q1 $582.9M
FY24 Q2 $532.8M
FY24 Q3 $527.4M
FY24 Q4 $525.3M
FY25 Q1 $540.5M
FY25 Q2 $576.2M
FY25 Q3 $614.5M
FY25 Q4 $606M
FY26 Q1 $643.2M
FY26 Q2 $676.9M
FY26 Q3 $659.5M
Revenue growth, TTM YoY CVR Partners, LP
-40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -18.4% Revenue growth, TTM YoY, FY24 Q1: -30.5% Revenue growth, TTM YoY, FY24 Q2: -31.5% Revenue growth, TTM YoY, FY24 Q3: -29.9% Revenue growth, TTM YoY, FY24 Q4: -22.9% Revenue growth, TTM YoY, FY25 Q1: -7.3% Revenue growth, TTM YoY, FY25 Q2: 8.1% Revenue growth, TTM YoY, FY25 Q3: 16.5% Revenue growth, TTM YoY, FY25 Q4: 15.4% Revenue growth, TTM YoY, FY26 Q1: 19.0% Revenue growth, TTM YoY, FY26 Q2: 17.5% Revenue growth, TTM YoY, FY26 Q3: 7.3% 7.3%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -18.4%
FY24 Q1 -30.5%
FY24 Q2 -31.5%
FY24 Q3 -29.9%
FY24 Q4 -22.9%
FY25 Q1 -7.3%
FY25 Q2 8.1%
FY25 Q3 16.5%
FY25 Q4 15.4%
FY26 Q1 19.0%
FY26 Q2 17.5%
FY26 Q3 7.3%
Operating margin (TTM) CVR Partners, LP
10% 15% 20% 25% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 29.6% Operating margin (TTM), FY24 Q1: 19.2% Operating margin (TTM), FY24 Q2: 14.8% Operating margin (TTM), FY24 Q3: 15.5% Operating margin (TTM), FY24 Q4: 17.2% Operating margin (TTM), FY25 Q1: 19.4% Operating margin (TTM), FY25 Q2: 20.4% Operating margin (TTM), FY25 Q3: 25.6% Operating margin (TTM), FY25 Q4: 21.2% Operating margin (TTM), FY26 Q1: 23.6% Operating margin (TTM), FY26 Q2: 28.1% Operating margin (TTM), FY26 Q3: 20.6% 20.6%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 29.6%
FY24 Q1 19.2%
FY24 Q2 14.8%
FY24 Q3 15.5%
FY24 Q4 17.2%
FY25 Q1 19.4%
FY25 Q2 20.4%
FY25 Q3 25.6%
FY25 Q4 21.2%
FY26 Q1 23.6%
FY26 Q2 28.1%
FY26 Q3 20.6%
FCF margin (TTM) CVR Partners, LP
10% 15% 20% 25% 30% 35% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 32.2% FCF margin (TTM), FY24 Q1: 21.7% FCF margin (TTM), FY24 Q2: 13.6% FCF margin (TTM), FY24 Q3: 17.2% FCF margin (TTM), FY24 Q4: 21.6% FCF margin (TTM), FY25 Q1: 23.1% FCF margin (TTM), FY25 Q2: 24.4% FCF margin (TTM), FY25 Q3: 22.5% FCF margin (TTM), FY25 Q4: 16.3% FCF margin (TTM), FY26 Q1: 17.4% FCF margin (TTM), FY26 Q2: 21.4% FCF margin (TTM), FY26 Q3: 22.6% 22.6%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 32.2%
FY24 Q1 21.7%
FY24 Q2 13.6%
FY24 Q3 17.2%
FY24 Q4 21.6%
FY25 Q1 23.1%
FY25 Q2 24.4%
FY25 Q3 22.5%
FY25 Q4 16.3%
FY26 Q1 17.4%
FY26 Q2 21.4%
FY26 Q3 22.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar CVR Partners took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $606M
  2. Cost of revenue $443M · 73.0%
  3. Gross profit $163M · 27.0%
  4. Selling, general and admin $33.6M · 5.5%
  5. Operating income $129M · 21.2%
  6. Interest and other $30M · 4.9%
  7. Net income $98.7M · 16.3%

Shares of revenue. Source: CVR Partners's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 208 180 303 302 324 299 289 356 331 351 404 350 533 836 681 525 606 659
Gross profit — — — — — 101 89 54 16 32 57 25 162 352 232 119 163 175
EBITDA 68 39 155 136 150 110 97 83 64 78 107 41 208 402 281 178 211 224
Operating income 49 20 136 116 125 83 69 25 −10 6 27 −35 134 320 201 90 129 136
Net income 58 33 132 112 119 76 62 −27 −73 −50 −35 −98 78 287 172 61 99 106
Diluted EPS $0.00 $0.00 $1.48 $15.30 $16.20 $10.40 $8.50 −$2.60 −$6.40 −$4.42 −$3.09 −$8.77 $7.31 $27.07 $16.31 $5.76 $9.33 $10.07
Growth (year on year)
Revenue — −13.4% +67.8% −0.2% +7.1% −7.7% −3.2% +23.2% −7.2% +6.1% +15.1% −13.4% +52.2% +56.9% −18.4% −22.9% +15.4% +7.3%
EBITDA — −42.5% +299.5% −12.0% +10.2% −26.8% −11.7% −14.8% −23.1% +22.3% +37.7% −61.6% +404.8% +93.3% −30.1% −36.5% +18.0% −6.6%
Operating income — −58.3% +569.1% −15.0% +7.9% −33.7% −17.0% −64.3% −141.9% — — −227.4% — +137.9% −37.0% −55.1% +42.4% −13.6%
Net income — −42.5% +297.7% −15.3% +5.7% −35.8% −18.5% −143.4% — — — — — +267.0% −39.9% −64.7% +62.0% −16.4%
Diluted EPS — — — +933.8% +5.9% −35.8% −18.3% −130.6% — — — — — +270.3% −39.7% −64.7% +62.0% −16.4%
Margins
Gross margin — — — — — 33.7% 30.9% 15.2% 4.7% 9.0% 14.0% 7.1% 30.4% 42.2% 34.1% 22.6% 27.0% 26.5%
EBITDA margin 32.4% 21.5% 51.2% 45.1% 46.5% 36.8% 33.6% 23.2% 19.3% 22.2% 26.5% 11.8% 39.0% 48.1% 41.3% 34.0% 34.7% 34.0%
Operating margin 23.4% 11.3% 45.0% 38.3% 38.6% 27.7% 23.8% 6.9% −3.1% 1.8% 6.8% −10.0% 25.3% 38.3% 29.6% 17.2% 21.2% 20.6%
Net margin 27.8% 18.5% 43.7% 37.1% 36.6% 25.5% 21.5% −7.6% −22.0% −14.2% −8.7% −28.1% 14.7% 34.3% 25.3% 11.6% 16.3% 16.1%
Free-cash-flow margin 34.6% 36.5% 39.9% 17.0% 26.3% 32.7% 21.2% 6.1% −1.3% 3.5% 5.1% 0.3% 31.6% 30.7% 32.2% 21.6% 16.3% 22.6%
Cash flow
Cash from operations 86 76 140 133 129 119 78 45 10 32 39 20 189 301 244 151 150 237
Capital spending 13 10 19 82 44 21 17 23 15 20 19 19 21 45 24 37 51 88
Free cash flow 72 66 121 51 85 98 61 22 −4 12 21 1 168 257 219 113 99 149
Stock-based pay 3 9 7 0 1 0 0 3 3 3 3 1 23 25 8 5 10 10
Free cash flow after stock pay 69 57 113 51 85 98 61 19 −7 9 17 0 145 232 211 109 89 139
Balance sheet
Cash 5 43 237 128 85 80 50 56 49 62 37 31 113 86 45 91 69 158
Total debt 0 0 125 125 125 125 125 647 647 — 632 636 611 547 547 569 570 570
Net debt (negative = net cash) −5 −43 −112 −3 40 45 75 592 598 −62 595 606 498 460 502 478 501 412
Diluted shares — — 7m 7m 7m 7m 7m 10m 11m 11m 11m 11m 11m 11m 11m 11m 11m 11m
Returned to shareholders
Buybacks — — — — — — — — — 0 0 7 1 12 0 0 — —
Total returned — — — — — — — — — 0 0 7 1 12 0 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · September 30, 2026
What it owns · $1.1bn
Short-term assets $299mLonger-term assets $758m
What it owes, and who funded it · $181m
Short-term liabilities $181m
  • Short-term assets cover short-term liabilities $299m of assets due within a year against $181m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $158m of cash against $569m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $237m of operating cash flow against $569m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From CVR Partners, LP'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.

Dividends, buybacks and capital spending

Diluted share count
0.0%
year over year
Sales & admin spending
5.6%
of revenue
Days sales outstanding
30 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in fertilizers & agricultural chemicals
Last 12 months unless stated UAN AVD BIOX FMC SMG ICL Median
Revenue, last 12 months $659m $510m $238m $2.8bn $3.5bn $7.2bn $3.5bn
Revenue growth, last 12 months 7.3% −3.5% −17.7% −22.0% 4.6% 4.6% 3.7%
Revenue growth, 3-year average −4.3% −3.6% — −17.2% −1.7% — −4.1%
Revenue growth, latest quarter −10.6% −9.7% — −80.5% 1.1% — −6.0%
Gross margin 26.5% 29.4% 34.9% 22.0% 31.8% 30.6% 30.6%
Operating margin 20.6% −5.2% −9.8% −97.0% 11.0% 8.1% 3.4%
Operating margin, 3-year average 20.6% −7.2% 4.6% −29.8% 6.8% 12.4% 6.8%
Net margin 16.1% −10.7% −110.8% −151.2% 2.1% 3.2% 2.1%
Cash from operations / revenue 35.9% −8.2% 27.7% 15.1% 10.6% 14.8% 14.8%
Free-cash-flow margin 22.6% −9.2% 27.3% 13.1% 7.6% 4.6% 7.4%
Free-cash-flow margin, 3-year average 20.8% −3.7% 10.9% 5.8% 14.4% 7.0% 9.1%
Stock pay / revenue 1.5% 0.3% 0.1% 0.9% 1.4% 0.2% 0.6%
Change in share count 0.0% 1.5% 0.7% 1.5% 3.2% 0.1% 0.1%

Median of all 11 companies we cover in fertilizers & agricultural chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

11 fertilizers & agricultural chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 7.3% 3.7% 3 of 11
Change in growth rate Growth -10.2pp -0.8pp 10 of 11
Gross margin Profitability 26.5% 30.6% 8 of 11
Operating margin Profitability 20.6% 8.1% 2 of 9
Net margin Profitability 16.1% 2.1% 2 of 11
Free-cash-flow margin Cash generation 22.6% 7.4% 3 of 11
Stock pay as % of revenue Cash generation 1.5% 0.6% 8 of 9
Long-term debt as % of assets Balance sheet 53.8% 21.3% 10 of 11
Change in share count Balance sheet 0.0% 0.1% 5 of 11
Days sales outstanding Balance sheet 30 days 75 days 2 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Product UAN $374M 61.8% ▲ 20.0%
Product Ammonia $143M 23.6% ▲ 10.1%
Products Other $51.2M 8.5% ▼ 3.1%
Product Urea Products $37.4M 6.2% ▲ 22.8%

From CVR Partners, LP's 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$631M
Institutions reporting
68
Shares held vs prior quarter
▼ 2.4%
Positions opened / closed
12 / 16

Top buyers and sellers, Q2 2026: 36 institutions bought and 30 sold ; the biggest buyer was Jpmorgan Chase & Co (+63K shares) and the biggest seller Morgan Stanley (−94K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Icahn Carl C $464M 4.2M 73.5% 0.0%
Morgan Stanley $48.9M 439K 7.7% ▼ 17.7%
Jpmorgan Chase & Co $21.1M 188K 3.3% ▲ 51.2%
Mirae Asset Global Etfs Holdings Ltd. $15.9M 143K 2.5% ▲ 4.0%
UBS Group AG $15.4M 138K 2.4% ▼ 19.6%
ING Groep NV $9.3M 83K 1.5% ▲ 40.6%
Oxbow Advisors, LLC $7.8M 70K 1.2% ▲ 0.8%
De Lisle Partners LLP $6.1M 54K 1.0% ▲ 1.1%
Natixis $5M 45K 0.8% 0.0%
Goldman Sachs Group Inc $4.9M 44K 0.8% ▲ 8.0%
LPL Financial LLC $3.6M 33K 0.6% ▲ 7.3%
Graniteshares Advisors LLC $3M 27K 0.5% ▲ 15.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not CVR Partners, LP's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 27, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • April 29, 2026
  • February 18, 2026
  • January 26, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on CVR Partners, LP was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

CVR Partners, LP in brief

What does CVR Partners, LP do?
CVR Partners, LP is a US-listed company in the fertilizers & agricultural chemicals industry. Its financial year ends in December.
What is CVR Partners, LP's stock ticker?
CVR Partners, LP trades under the ticker UAN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is CVR Partners, LP's revenue, and how fast is it growing?
Over its most recent trailing twelve months, CVR Partners, LP reported revenue of $659M, 7.3% higher than a year earlier, according to its SEC filings.
What is CVR Partners, LP's free cash flow?
CVR Partners, LP's free-cash-flow margin is 22.6% of revenue over the trailing twelve months, ranking 3 of the 11 fertilizers & agricultural chemicals companies we cover.
What is CVR Partners, LP's fair value (intrinsic value) per share?
Our discounted-cash-flow model of CVR Partners, LP's free cash flow after stock-based pay gives ~$170 per share in the base case, and ~$110–$230 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are CVR Partners, LP's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Icahn Carl C, Morgan Stanley and Jpmorgan Chase & Co. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is CVR Partners, LP's market cap?
On November 2, 2026, CVR Partners, LP's market capitalisation was about $1.3B, with a price-to-earnings ratio of 12.4 and net debt of $412M. Market figures come from third-party market data and may be delayed.
Who are CVR Partners, LP's competitors?
In our Fertilizers & Agricultural Chemicals peer group, the companies closest to CVR Partners, LP are American Vanguard Corp, Bioceres Crop Solutions Corp., FMC Corp, Scotts Miracle-gro Co and ICL Group Ltd. The side-by-side comparison below sets their revenue, margins and growth against CVR Partners, LP's.
When is CVR Partners, LP's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — CVR Partners, LP announces its own schedule.