CF Industries Holdings, Inc. (CF) Financial Ratios
23 years of historical data (2003–2025) · Basic Materials · Agricultural Inputs
EV/EBITDA
↓
5.45
+11% vs avg
5yr avg: 4.92
30Y Low1.6·High11.6
P/FCF
↑
8.77
↑+28% vs avg
5yr avg: 6.85
30Y Low5.1·High21.5
P/B Ratio
↓
2.15
+5% vs avg
5yr avg: 2.05
30Y Low1.1·High5.2
ROE
↑
18.9%
-19% vs avg
5yr avg: 23.4%
30Y Low-5%·High54%
Debt/EBITDA
↓
1.21
+17% vs avg
5yr avg: 1.03
30Y Low0.0·High5.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CF Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
CF Industries Holdings, Inc. trades at 11.5x earnings, 8% above its 5-year average of 10.7x, sitting at the 42nd percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.6x, the stock trades at a discount of 51%. On a free-cash-flow basis, the stock trades at 8.8x P/FCF, 28% above the 5-year average of 6.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.8B | $12.5B | $15.4B | $15.4B | $17.4B | $15.3B | $8.3B | $10.6B | $10.2B | $10.0B | $7.3B |
| Enterprise Value | $17.8B | $14.5B | $17.0B | $16.6B | $18.3B | $17.4B | $11.9B | $14.5B | $14.2B | $13.8B | $12.0B |
| P/E Ratio → | 11.47 | 8.62 | 12.66 | 10.10 | 5.20 | 16.69 | 26.28 | 21.50 | 35.09 | 27.80 | — |
| P/S Ratio | 2.23 | 1.77 | 2.60 | 2.32 | 1.56 | 2.34 | 2.02 | 2.30 | 2.30 | 2.41 | 1.99 |
| P/B Ratio | 2.15 | 1.61 | 2.03 | 1.84 | 2.22 | 2.54 | 1.49 | 1.88 | 1.78 | 1.49 | 1.13 |
| P/FCF | 8.77 | 6.96 | 8.79 | 6.83 | 5.13 | 6.51 | 9.04 | 9.61 | 9.46 | 8.59 | — |
| P/OCF | 5.75 | 4.56 | 6.79 | 5.59 | 4.51 | 5.33 | 6.77 | 7.03 | 6.80 | 6.10 | 11.89 |
P/E links to full P/E history page with 30-year chart
CF EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
CF Industries Holdings, Inc.'s enterprise value stands at 5.4x EBITDA, 11% above its 5-year average of 4.9x. The Basic Materials sector median is 11.0x, placing the stock at a 51% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.05 | 2.87 | 2.50 | 1.64 | 2.66 | 2.88 | 3.17 | 3.20 | 3.34 | 3.24 |
| EV / EBITDA | 5.45 | 4.45 | 6.38 | 5.15 | 2.84 | 5.76 | 7.85 | 8.04 | 9.06 | 11.63 | 10.37 |
| EV / EBIT | 7.52 | 6.06 | 8.97 | 6.93 | 3.36 | 10.07 | 18.49 | 14.40 | 18.01 | 72.67 | — |
| EV / FCF | — | 8.05 | 9.73 | 7.36 | 5.39 | 7.40 | 12.87 | 13.20 | 13.20 | 11.92 | — |
CF Profitability
Margins and return-on-capital ratios measuring operating efficiency
CF Industries Holdings, Inc. earns an operating margin of 33.4%, significantly above the Basic Materials sector average of 10.3%. Operating margins have compressed from 35.5% to 33.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 18.9% indicates solid capital efficiency. ROIC of 18.7% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.5% | 38.5% | 34.6% | 39.9% | 52.7% | 36.1% | 20.2% | 25.8% | 20.5% | 12.6% | 19.3% |
| Operating Margin | 33.4% | 33.4% | 29.4% | 35.5% | 50.1% | 32.7% | 15.2% | 20.6% | 15.7% | 8.0% | 14.6% |
| Net Profit Margin | 20.5% | 20.5% | 20.5% | 23.0% | 29.9% | 14.0% | 7.7% | 10.7% | 6.5% | 8.7% | -7.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.9% | 18.9% | 15.3% | 18.8% | 48.2% | 15.8% | 5.6% | 8.7% | 4.7% | 5.4% | -5.1% |
| ROA | 10.6% | 10.6% | 8.7% | 11.0% | 26.1% | 7.5% | 2.6% | 4.0% | 2.2% | 2.5% | -2.0% |
| ROIC | 18.7% | 18.7% | 13.9% | 19.3% | 49.8% | 18.6% | 5.0% | 7.3% | 5.1% | 2.3% | 3.9% |
| ROCE | 18.3% | 18.3% | 13.3% | 18.2% | 48.2% | 19.4% | 5.6% | 8.1% | 5.6% | 2.4% | 4.2% |
CF Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
CF Industries Holdings, Inc. carries a Debt/EBITDA ratio of 1.2x, which is manageable (50% below the sector average of 2.4x). Net debt stands at $2.0B ($3.9B total debt minus $2.0B cash). Interest coverage of 15.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.51 | 0.51 | 0.43 | 0.39 | 0.41 | 0.62 | 0.75 | 0.75 | 0.82 | 0.70 | 0.89 |
| Debt / EBITDA | 1.21 | 1.21 | 1.22 | 1.00 | 0.50 | 1.23 | 2.79 | 2.35 | 3.00 | 3.95 | 5.01 |
| Net Debt / Equity | — | 0.25 | 0.21 | 0.14 | 0.11 | 0.35 | 0.63 | 0.70 | 0.70 | 0.58 | 0.71 |
| Net Debt / EBITDA | 0.60 | 0.60 | 0.61 | 0.37 | 0.14 | 0.69 | 2.34 | 2.19 | 2.56 | 3.25 | 4.00 |
| Debt / FCF | — | 1.09 | 0.93 | 0.53 | 0.27 | 0.89 | 3.84 | 3.59 | 3.74 | 3.33 | — |
| Interest Coverage | 15.45 | 15.45 | 15.71 | 15.99 | 15.81 | 9.39 | 3.59 | 4.26 | 3.27 | 0.60 | -0.13 |
CF Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
CF Industries Holdings, Inc.'s current ratio of 3.37x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.93x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 3.81x to 3.37x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.37 | 3.37 | 3.08 | 3.81 | 3.69 | 1.81 | 1.51 | 1.46 | 1.81 | 2.53 | 3.87 |
| Quick Ratio | 2.93 | 2.93 | 2.70 | 3.44 | 3.22 | 1.53 | 1.19 | 0.94 | 1.37 | 2.05 | 3.38 |
| Cash Ratio | 2.23 | 2.23 | 1.97 | 2.54 | 2.33 | 1.14 | 0.75 | 0.43 | 0.97 | 1.44 | 1.70 |
| Asset Turnover | — | 0.50 | 0.44 | 0.46 | 0.84 | 0.53 | 0.34 | 0.38 | 0.35 | 0.31 | 0.24 |
| Inventory Turnover | 11.38 | 11.38 | 12.36 | 13.33 | 11.17 | 10.24 | 11.46 | 9.70 | 11.40 | 13.12 | 8.77 |
| Days Sales Outstanding | — | 25.14 | 24.84 | 27.80 | 18.99 | 27.75 | 23.45 | 19.24 | 19.37 | 27.13 | 23.38 |
CF Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
CF Industries Holdings, Inc. returns 2.0% to shareholders annually primarily through dividends. The payout ratio of 22.4% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 8.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 2.6% | 2.4% | 2.0% | 1.8% | 1.7% | 3.1% | 2.5% | 2.8% | 2.8% | 3.8% |
| Payout Ratio | 22.4% | 22.4% | 29.9% | 20.4% | 9.1% | 28.4% | 81.4% | 53.8% | 96.6% | 78.2% | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.7% | 11.6% | 7.9% | 9.9% | 19.2% | 6.0% | 3.8% | 4.7% | 2.8% | 3.6% | — |
| FCF Yield | 11.4% | 14.4% | 11.4% | 14.6% | 19.5% | 15.4% | 11.1% | 10.4% | 10.6% | 11.6% | — |
| Buyback Yield | 0.0% | 0.0% | 9.8% | 3.8% | 7.7% | 3.5% | 1.2% | 3.5% | 4.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.0% | 2.6% | 12.1% | 5.8% | 9.5% | 5.2% | 4.3% | 6.0% | 7.3% | 2.8% | 3.8% |
| Shares Outstanding | — | $162M | $181M | $194M | $204M | $216M | $215M | $222M | $234M | $234M | $233M |
Peer Comparison
Compare CF with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CFYou | $16B | 11.5 | 5.4 | 8.8 | 38.5% | 33.4% | 18.9% | 18.7% | 1.2 |
 MOS | $7B | 13.5 | 5.5 | — | 15.1% | 8.7% | 4.5% | 4.8% | 2.4 |
 NTR | $30B | 13.3 | 6.7 | 14.8 | 31.0% | 14.5% | 9.3% | 8.0% | 2.0 |
 UAN | $1B | 11.9 | 8.0 | 11.9 | 27.0% | 21.4% | 35.3% | 12.2% | 2.8 |
 ANDE | $2B | 25.4 | 12.9 | — | 6.5% | 1.2% | 6.6% | 4.6% | 4.0 |
 ICL | $7B | 28.6 | 6.9 | 51.0 | 30.6% | 9.8% | 3.7% | 6.3% | 2.1 |
 SMG | $4B | 26.2 | 14.1 | 13.7 | 30.6% | 10.5% | — | 13.3% | 5.5 |
 AVD | $76M | -1.5 | 7.8 | — | 28.6% | 2.7% | -23.4% | 2.7% | 5.9 |
 DE | $159B | 31.9 | 20.2 | 49.2 | 36.5% | 18.8% | 20.5% | 7.8% | 6.0 |
 LIN | $237B | 35.1 | 20.4 | 46.6 | 43.3% | 26.3% | 17.4% | 11.3% | 2.1 |
 APD | $62B | -158.3 | 114.9 | — | 31.4% | -7.3% | -2.2% | -2.0% | 26.8 |
| Basic Materials Median | — | 23.6 | 11.0 | 29.0 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 23 years · Updated daily
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CF — Frequently Asked Questions
Quick answers to the most common questions about buying CF stock.
What is CF Industries Holdings, Inc.'s P/E ratio?
CF Industries Holdings, Inc.'s current P/E ratio is 11.5x. The historical average is 16.4x. This places it at the 42th percentile of its historical range.
What is CF Industries Holdings, Inc.'s EV/EBITDA?
CF Industries Holdings, Inc.'s current EV/EBITDA is 5.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.1x.
What is CF Industries Holdings, Inc.'s ROE?
CF Industries Holdings, Inc.'s return on equity (ROE) is 18.9%. The historical average is 17.5%.
Is CF stock overvalued?
Based on historical data, CF Industries Holdings, Inc. is trading at a P/E of 11.5x. This is at the 42th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is CF Industries Holdings, Inc.'s dividend yield?
CF Industries Holdings, Inc.'s current dividend yield is 1.95% with a payout ratio of 22.4%.
What are CF Industries Holdings, Inc.'s profit margins?
CF Industries Holdings, Inc. has 38.5% gross margin and 33.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does CF Industries Holdings, Inc. have?
CF Industries Holdings, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.