CF Industries Holdings, Inc.

Listed Company

CFCIK 0001324404NYSELarge AcceleratedAgricultural ChemicalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.08B

Net Income

$1.80B

Total Assets

$14.09B

Equity

$4.84B

Shares Out

153.63M

Op. Cash Flow

$2.75B

Business

CF Industries Holdings, Inc. is a producer of ammonia and upgraded nitrogen products that supplies agricultural and industrial markets. The company manufactures and markets anhydrous ammonia and ammonia-derived products such as granular urea, urea ammonium nitrate (UAN), ammonium nitrate (AN), diesel exhaust fluid (DEF), urea liquor and nitric acid. Its reportable segments are Ammonia, Granular Urea, UAN, AN and Other, which are evaluated on gross margin. The company operates manufacturing complexes, storage terminals and logistics networks across the United States, Canada and the United Kingdom and distributes products via truck, rail, barge, pipeline and ocean vessels.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	7,084	5,936	6,631	11,186	6,538
Cost of sales	4,360	3,880	4,086	5,325	4,151
Gross margin	2,724	2,056	2,545	5,861	2,387
Selling, general and administrative expenses	364	320	289	290	223
Asset impairment	76	0	0	—	—
U.K. operations restructuring	23	0	10	19	0
Acquisition and integration costs	0	4	39	0	0
Other operatingnet	−25	−10	−31	10	−39
Total other operating costs and expenses	438	314	307	558	705
Equity in earnings (loss) of operating affiliate	14	4	−8	94	47
Operating earnings	2,300	1,746	2,230	5,397	1,729
Interest expense	155	121	150	344	184
Interest income	−81	−123	−158	−65	−1
Loss on debt extinguishment	6	0	0	8	19
Other non-operatingnet	−19	−14	−10	15	−16
Earnings before income taxes	2,239	1,762	2,248	5,095	1,543
Income tax provision	441	285	410	1,158	283
Net earnings	1,798	1,477	1,838	3,937	1,260
Less: Net earnings attributable to noncontrolling interests	343	259	313	591	343
Net earnings attributable to common stockholders	1,455	1,218	1,525	3,346	917
Basic (per share)	8.98	6.75	7.89	16.45	4.27
Diluted (per share)	8.97	6.74	7.87	16.38	4.24
Basic (shares)	162	180	193	203	215
Diluted (shares)	162	181	194	204	216

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (amount related to variable interest entity (VIE)2025: $130)	1,982	1,614	2,032	2,323	1,628
Accounts receivablenet	488	404	505	582	497
Inventories	383	314	299	474	408
Prepaid income taxes	105	145	167	215	4
Other current assets (amount related to VIE2025: $1)	27	43	47	79	56
Total current assets	2,985	2,520	3,050	3,673	2,593
Property, plant and equipmentnet (amount related to VIE2025: $361)	6,715	6,735	7,141	6,437	7,081
Investment in affiliate	32	29	26	74	82
Goodwill	2,493	2,492	2,495	2,089	2,091
Intangible assetsnet	473	507	538	15	—
Operating lease right-of-use assets	410	266	259	254	243
Other assets (amount related to VIE2025: $1)	980	917	867	771	285
Total assets	14,088	13,466	14,376	13,313	12,375
Accounts payable and accrued expenses (amount related to VIE2025: $52)	681	603	520	575	565
Income taxes payable	0	2	12	3	24
Customer advances	77	118	130	229	700
Current operating lease liabilities	110	86	96	93	89
Other current liabilities	19	9	42	95	54
Total current liabilities	887	818	800	995	1,432
Long-term debt	3,215	2,971	2,968	2,965	3,465
Deferred income taxes	869	871	999	958	1,029
Operating lease liabilities	311	189	168	167	162
Supply contract liability	694	724	754	0	—
Other liabilities (amount related to VIE2025: $1)	337	301	314	375	251
Preferred stock$0.01 par value, 50,000,000 shares authorized	0	0	0	0	0
Common stock$0.01 par value, 500,000,000 shares authorized, 2025153,552,162 shares issued and 2024170,237,254 shares issued	2	2	2	2	2
Paid-in capital	1,197	1,284	1,389	1,412	1,375
Retained earnings	3,874	4,009	4,535	3,867	2,088
Treasury stockat cost, 20250 shares and 2024354,264 shares	0	−30	0	0	−2
Accumulated other comprehensive loss	−235	−280	−209	−230	−257
Total stockholders equity	4,838	4,985	5,717	5,051	3,206
Noncontrolling interests	2,937	2,607	2,656	2,802	2,830
Total equity	7,775	7,592	8,373	7,853	6,036
Total liabilities and equity	14,088	13,466	14,376	13,313	12,375

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	898	925	869	850	888
Deferred income taxes	6	−115	81	−107	−196
Stock-based compensation expense	45	36	37	41	30
Unrealized net loss (gain) on natural gas derivatives	5	−35	−39	41	25
Impairment of equity method investment in PLNL	0	0	43	0	0
Asset impairment	76	0	0	—	—
Pension settlement loss	1	0	0	17	0
Gain on sale of emission credits	−8	−47	−39	−6	−49
Loss on disposal of property, plant and equipment	3	12	4	2	3
Loss on sale of Ince facility	23	0	0	—	—
Undistributed (earnings) loss of affiliatenet of taxes	−4	−2	3	−1	−6
Accounts receivablenet	−98	77	100	−110	−235
Inventories	−88	−28	152	−93	−123
Accrued and prepaid income taxes	38	1	−44	−227	94
Accounts payable and accrued expenses	72	44	−88	1	142
Customer advances	−41	−11	−100	−471	570
Othernet	20	−63	−60	−252	−71
Net cash provided by operating activities	2,752	2,271	2,757	3,855	2,873
Additions to property, plant and equipment	−950	−518	−499	−453	−514
Proceeds from sale of property, plant and equipment	6	3	1	1	1
Purchase of Waggaman ammonia production facility	0	2	−1,223	0	0
Proceeds from sale of Ince facility	4	0	0	—	—
Purchase of emission credits	−1	−3	−2	−9	−10
Proceeds from sale of emission credits	8	47	39	15	58
Othernet	0	0	5	0	0
Net cash used in investing activities	−933	−469	−1,679	−440	−466
Proceeds from long-term borrowings	999	0	0	—	—
Repayments of short-term borrowings	−754	0	0	0	0
Financing fees	−12	0	−2	−4	0
Dividends paid on common stock	−326	−364	−311	−306	−260
Contributions from noncontrolling interests	291	0	0	—	—
Distributions to noncontrolling interests	−304	−308	−459	−619	−194
Purchases of treasury stock	−1,365	−1,509	−580	−1,347	−539
Proceeds from issuances of common stock under employee stock plans	1	2	2	106	64
Cash paid for shares withheld for taxes	−14	−26	−22	−23	−11
Net cash used in financing activities	−1,484	−2,205	−1,372	−2,700	−1,463
Effect of exchange rate changes on cash and cash equivalents	33	−15	3	−20	1
Increase (decrease) in cash and cash equivalents	368	−418	−291	695	945

Filings

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Frequently asked questions

What is CF Industries Holdings, Inc.'s CIK number?

CF Industries Holdings, Inc.'s SEC CIK number is 0001324404 (1324404). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find CF Industries Holdings, Inc.'s SEC filings?

All of CF Industries Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did CF Industries Holdings, Inc. last report earnings?

CF Industries Holdings, Inc. (CF) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-056338). This is CF Industries Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is CF Industries Holdings, Inc.'s most recent earnings 8-K?

CF Industries Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001104659-26-056338. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View CF Industries Holdings, Inc.'s latest earnings 8-K →
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