CVR ENERGY INC

Listed Company

CVICIK 0001376139NYSELarge AcceleratedPetroleum RefiningDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.16B

Net Income

$27.00M

Total Assets

$3.71B

Equity

$730.00M

Shares Out

100.53M

Op. Cash Flow

$144.00M

Business

CVR ENERGY INC is a diversified holding company engaged in petroleum refining and marketing, renewable fuels production, and nitrogen fertilizer manufacturing through its consolidated subsidiaries and interests in CVR Partners. It produces high-value transportation fuels (gasoline, diesel, jet fuel, distillates), renewable diesel and related feedstock pretreatment services, and nitrogen fertilizer products such as ammonia and urea ammonium nitrate (UAN), plus logistics and crude gathering services. The company reports three segments: Petroleum, Renewables, and Nitrogen Fertilizer. Its operations serve primarily mid‑continent U.S. markets via pipelines, rail, trucks, rack marketing and third‑party offtake agreements, focusing distribution in PADD II, Oklahoma, parts of Arkansas and eastern Missouri, and regional agricultural markets.

Summary from filing dated 2025-02-19

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	7,162	7,610	9,247	10,896	7,242
Cost of materials and other	5,722	6,448	7,013	8,766	6,185
Direct operating expenses (exclusive of depreciation and amortization)	700	667	670	719	569
Depreciation and amortization	394	290	291	281	270
Cost of sales	6,816	7,405	7,974	9,766	7,024
Selling, general and administrative expenses (exclusive of depreciation and amortization)	148	139	141	149	119
Depreciation and amortization	9	8	7	7	9
Other operating expenses, net	7	0	2	—	—
Operating income	182	58	1,123	963	87
Interest expense, net	−108	−77	−52	−85	−117
Other income, net	6	38	14	−77	15
Income before income taxes	80	19	1,085	801	66
Income tax (benefit) expense	−10	−26	207	157	−8
Net income	90	45	878	644	74
Net income attributable to noncontrolling interest	63	38	109	181	49
Net income attributable to CVR Energy stockholders	27	7	769	463	25
Basic earnings per share (in dollars per share)	0.27	0.06	7.65	4.6	0.25
Diluted earnings per share (in dollars per share)	0.27	0.06	7.65	4.6	0.25
Basic (in shares)	101	101	101	101	101
Diluted (in shares)	101	101	101	101	101

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 (including $69 and $91, respectively, of consolidated variable interest entity (VIE))	511	987	581	510	510
Accounts receivable, net (including $59 and $65, respectively, of VIE)	235	295	286	358	299
Inventories (including $83 and $76, respectively, of VIE)	472	502	604	624	484
Prepaid expenses (including $1 and $1, respectively, of VIE)	29	16	59	—	—
Other current assets (including $1 and $1, respectively, of VIE)	20	24	51	—	—
Total current assets	1,267	1,824	2,179	1,593	1,369
Property, plant, and equipment, net (including $712 and $736, respectively, of VIE)	2,050	2,176	2,221	2,247	2,273
Other long-term assets (including $44 and $50, respectively, of VIE)	389	263	307	279	264
Total assets	3,706	4,263	4,707	4,119	3,906
Accounts payable (including $48 and $37, respectively, of VIE)	415	538	530	497	409
Other current liabilities (including $48 and $75, respectively, of VIE)	291	560	546	936	747
Total current liabilities	706	1,098	1,682	1,439	1,156
Long-term debt and finance lease obligations, net of current portion (including $569 and $568, respectively, of VIE)	1,751	1,907	1,579	1,585	1,654
Deferred income taxes	269	277	327	249	268
Other long-term liabilities (including $38 and $46, respectively, of VIE)	82	93	81	55	58
Total long-term liabilities	2,102	2,277	1,987	1,889	1,980
Commitments and contingencies (See Note 14)	—	—	—	—	—
Preferred stock, $0.01 par value per share; 50,000,000 shares authorized; none issued	0	0	—	—	—
Common stock, $0.01 par value per share; 350,000,000 shares authorized; 100,629,209 and 100,629,209 shares issued as of December 31, 2025 and 2024, respectively	1	1	1	1	1
Additional paid-in-capital	1,508	1,508	1,508	1,508	1,510
Accumulated deficit	−777	−804	−660	−976	−956
Treasury stock, 98,610 shares at cost	−2	−2	−2	−2	−2
Total CVR stockholders equity	730	703	847	531	553
Noncontrolling interest	168	185	191	260	217
Total equity	898	888	1,038	791	770
Total liabilities and equity	3,706	4,263	4,707	4,119	3,906

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	403	298	298	288	279
Loss on lower of cost or net realizable value adjustments	12	5	4	0	0
Deferred income taxes and unrecognized tax benefits	−8	−50	67	−17	−98
Loss (gain) asset write-downs and asset disposals	7	−24	2	—	—
Unrealized (gain) loss on derivatives, net	−4	22	−32	5	−16
Share-based compensation	42	15	34	71	46
Income from equity method investments	−4	−13	−12	−10	—
Return from equity method investment earnings	5	13	12	10	—
Other items	10	7	2	2	4
Accounts receivable	60	−9	51	−78	−91
Inventories	8	96	15	−140	−182
Prepaid expenses and other current assets	−11	−21	2	−29	12
Accounts payable	−143	2	37	78	122
Deferred revenue	−34	29	−24	−20	27
Other current liabilities	−289	−11	−386	158	290
Net cash provided by operating activities	144	404	948	967	396
Capital expenditures	−185	−179	−205	−191	−224
Turnaround expenditures	−197	−53	−57	−83	−5
Insurance proceeds related to asset damages	3	10	0	0	—
Proceeds from sale of investments and assets	10	92	1	0	—
Return of equity method investment	7	9	22	3	1
Net cash used in investing activities	−362	−121	−239	−271	−238
Principal payments on Term Loan	−168	0	0	—	—
Proceeds from issuance of long-term debt	0	325	600	0	550
Principal payments on senior secured notes	0	−600	0	—	—
Dividends to CVR Energys stockholders	0	−151	−453	−483	−241
Distributions to CVR Partners noncontrolling interest holders	−80	−44	−178	−129	−31
Other financing activities	−10	−12	−9	−7	−10
Net cash used in financing activities	−258	−482	−40	−696	−315
Net (decrease) increase in cash, cash equivalents, reserved funds and restricted cash	−476	−199	669	0	−157

Filings

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