Revenue contraction of 9.68% year-over-year combined with gross margins compressing to 0.3% suggests severe sensitivity to commodity price fluctuations.
CHS Inc. (CHSCL) annual income statement — 25-year revenue, gross profit & net income history
| Metric | Aug'26 | Aug'25 | Aug'24 | Aug'23 | Aug'22 | Aug'21 | Aug'20 | Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 | Aug'09 | Aug'08 | Aug'07 | Aug'06 | Aug'05 | Aug'04 | Aug'03 | Aug'02 |
|---|
| Sales/Revenue | 39.23B | 35.46B | 39.26B | 45.59B | 47.79B | 38.45B | 28.41B | 31.9B | 32.68B | 31.93B | 30.35B | 34.58B | 42.66B | 44.48B | 40.6B | 36.92B | 25.27B | 25.73B | 32.17B | 17.22B | 14.38B | 11.93B | 10.91B | 9.27B | 1.1T |
| Revenue Growth % | 10.63% | -9.68% | -13.88% | -4.61% | 24.3% | 35.35% | -10.95% | -2.4% | 2.34% | 5.23% | -12.25% | -18.94% | -4.08% | 9.56% | 9.98% | 46.1% | -1.8% | -20.01% | 86.85% | 19.69% | 20.6% | 9.33% | 17.68% | -99.15% | - |
| Cost of Goods Sold | 37.44B | 34.33B | 37.51B | 42.81B | 45.1B | 36.57B | 27.35B | 30.52B | 31.59B | 30.99B | 29.39B | 33.09B | 41.02B | 42.71B | 38.59B | 35.51B | 24.4B | 24.85B | 30.99B | 16.14B | 13.57B | 11.45B | 0 | 0 | 912.7B |
| COGS % of Revenue | 95.44% | 96.79% | 95.54% | 93.9% | 94.37% | 95.12% | 96.29% | 95.66% | 96.65% | 97.03% | 96.84% | 95.69% | 96.14% | 96.01% | 95.05% | 96.2% | 96.55% | 96.58% | 96.35% | 93.75% | 94.35% | 96% | - | - | 83.24% |
| Gross Profit | 1.79B | 1.14B | 1.75B | 2.78B | 2.69B | 1.88B | 1.05B | 1.38B | 1.09B | 893.88M | 959.29M | 1.49B | 1.65B | 1.77B | 2.01B | 1.4B | 870.52M | 880.01M | 1.17B | 1.08B | 813.33M | 477.1M | 10.91B | 9.27B | 183.72B |
| Gross Margin % | 4.56% | 3.21% | 4.46% | 6.1% | 5.63% | 4.88% | 3.71% | 4.34% | 3.35% | 2.8% | 3.16% | 4.31% | 3.86% | 3.99% | 4.95% | 3.8% | 3.45% | 3.42% | 3.65% | 6.25% | 5.65% | 4% | 100% | 100% | 16.76% |
| Gross Profit Growth % | 57.27% | -35.09% | -37.07% | 3.36% | 43.49% | 78.12% | -23.9% | 26.6% | 22.33% | -6.82% | -35.65% | -9.5% | -7.13% | -11.81% | 43.36% | 61.15% | -1.08% | -25.01% | 9.04% | 32.33% | 70.47% | -95.63% | 17.68% | -94.95% | - |
| Operating Expenses | 1.2B | 1.05B | 1.17B | 1.03B | 998.41M | 746.71M | 701.56M | 737.64M | 636.37M | 604.36M | 649.1M | 775.35M | 602.6M | 553.62M | 498.23M | 438.5M | 366.58M | 355.3M | 329.96M | 245.36M | 231.24M | 199.35M | 208.28M | 190.58M | 105.65B |
| OpEx % of Revenue | 3.05% | 2.95% | 2.97% | 2.27% | 2.09% | 1.94% | 2.47% | 2.31% | 1.95% | 1.89% | 2.14% | 2.24% | 1.41% | 1.24% | 1.23% | 1.19% | 1.45% | 1.38% | 1.03% | 1.43% | 1.61% | 1.67% | 1.91% | 2.06% | 9.64% |
| Selling, General & Admin | 1.2B | 1.05B | 1.15B | 1.03B | 998.41M | 746.71M | 701.56M | 737.64M | 635.52M | 612.01M | 601.27M | 642.31M | 602.6M | 553.62M | 498.23M | 438.5M | 366.58M | 355.3M | 329.96M | 245.36M | 231.24M | 199.35M | 208.28M | 190.58M | 105.42B |
| SG&A % of Revenue | 3.05% | 2.95% | 2.94% | 2.27% | 2.09% | 1.94% | 2.47% | 2.31% | 1.94% | 1.92% | 1.98% | 1.86% | 1.41% | 1.24% | 1.23% | 1.19% | 1.45% | 1.38% | 1.03% | 1.43% | 1.61% | 1.67% | 1.91% | 2.06% | 9.62% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 12.46M | 0 | 0 | 0 | 0 | 0 | 0 | 95.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 223M |
| Operating Income | 576.93M | 90.75M | 584.36M | 1.75B | 1.69B | 1.13B | 351.89M | 692.44M | 457.09M | -111.8M | 310.2M | 715.41M | 1.04B | 1.22B | 1.51B | 964.35M | 503.94M | 524.72M | 843.6M | 841.4M | 582.09M | 277.75M | 238.11M | 149M | 78.08B |
| Operating Margin % | 1.47% | 0.26% | 1.49% | 3.84% | 3.54% | 2.94% | 1.24% | 2.17% | 1.4% | -0.35% | 1.02% | 2.07% | 2.45% | 2.74% | 3.73% | 2.61% | 1.99% | 2.04% | 2.62% | 4.89% | 4.05% | 2.33% | 2.18% | 1.61% | 7.12% |
| Operating Income Growth % | 535.7% | -84.47% | -66.62% | 3.34% | 49.95% | 221.05% | -49.18% | 51.49% | 508.85% | -136.04% | -56.64% | -31.52% | -14.38% | -19.36% | 56.88% | 91.36% | -3.96% | -37.8% | 0.26% | 44.55% | 109.57% | 16.65% | 59.8% | -99.81% | - |
| EBITDA | 1.25B | 742.18M | 1.07B | 2.22B | 2.16B | 1.59B | 829.26M | 1.17B | 935.14M | 368.43M | 757.69M | 1.07B | 1.31B | 1.5B | 1.73B | 1.19B | 725.39M | 721.07M | 1.02B | 982M | 708.87M | 388.08M | 346.51M | 260.35M | 90.72B |
| EBITDA Margin % | 3.2% | 2.09% | 2.72% | 4.86% | 4.51% | 4.14% | 2.92% | 3.65% | 2.86% | 1.15% | 2.5% | 3.1% | 3.07% | 3.36% | 4.27% | 3.21% | 2.87% | 2.8% | 3.19% | 5.7% | 4.93% | 3.25% | 3.18% | 2.81% | 8.27% |
| EBITDA Growth % | 68.97% | -30.38% | -51.88% | 2.75% | 35.47% | 91.91% | -28.86% | 24.65% | 153.82% | -51.38% | -29.24% | -18.37% | -12.35% | -13.62% | 46.2% | 63.37% | 0.6% | -29.64% | 4.36% | 38.53% | 82.66% | 12% | 33.09% | -99.71% | - |
| D&A (Non-Cash Add-back) | 677.14M | 651.43M | 481.72M | 464.62M | 461.97M | 461.73M | 477.38M | 473.21M | 478.05M | 480.22M | 447.49M | 355.42M | 267.17M | 276.58M | 219.63M | 220.69M | 221.45M | 196.35M | 181.26M | 140.6M | 126.78M | 110.33M | 108.4M | 111.35M | 12.64B |
| EBIT | 576.93M | 760.85M | 1.2B | 2.15B | 1.92B | 619.88M | 502.63M | 982.67M | 820.43M | 61.07M | 515.83M | 838.83M | 1.28B | 1.33B | 1.61B | 1.23B | 653.74M | 584.15M | 974.71M | 849.2M | 582.09M | 277.75M | 0 | 0 | 77.34B |
| Net Interest Income | -163.63M | -146.08M | -104.06M | -137.44M | -6.1M | -8M | -9.67M | 0 | -149.2M | -171.24M | -113.7M | -70.66M | -140.25M | -236.7M | -193.26M | -74.83M | -58.32M | -70.49M | -76.46M | -31.1M | 41.3M | 41.51M | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 114.16M | 104.56M | 116.98M | 167.06M | 0 | 0 | 0 | 0 | 6.99M | 6.21M | 5.13M | 2.72M | 5.37M | 9.98M | 13.9M | 20.71M | 41.3M | 41.51M | 0 | 0 | 0 |
| Interest Expense | 163.63M | 146.08M | 104.06M | 137.44M | 120.26M | 112.56M | 126.65M | 167.06M | 149.2M | 171.24M | 113.7M | 70.66M | 147.24M | 242.91M | 198.39M | 77.56M | 63.69M | 80.47M | 90.36M | 51.81M | 0 | 0 | 0 | 0 | 6.79B |
| Other Income/Expense | 551.79M | 524.02M | 513.43M | 257.06M | 115.96M | -614.41M | 34.99M | 156M | 214.14M | 56.95M | 109.68M | 52.76M | 81.36M | -139.17M | -96.34M | 183.31M | 79.9M | -80.82M | 30.99M | -44.01M | -43.09M | 19.51M | 8.93M | -12.46M | -7.52B |
| Pretax Income | 1.13B | 614.77M | 1.1B | 2.01B | 1.81B | 515.32M | 386.88M | 815.6M | 671.23M | -110.17M | 402.13M | 768.17M | 1.13B | 1.09B | 1.42B | 1.15B | 583.84M | 503.68M | 874.58M | 786.93M | 539M | 297.26M | 247.03M | 136.54M | 70.56B |
| Pretax Margin % | 2.88% | 1.73% | 2.8% | 4.4% | 3.79% | 1.34% | 1.36% | 2.56% | 2.05% | -0.34% | 1.33% | 2.22% | 2.65% | 2.44% | 3.49% | 3.11% | 2.31% | 1.96% | 2.72% | 4.57% | 3.75% | 2.49% | 2.26% | 1.47% | 6.44% |
| Income Tax | 32.74M | 16.78M | -4.87M | 107.66M | 132.12M | -38.25M | -36.73M | 12.46M | -104.08M | -181.12M | 19.1M | -12.16M | 48.3M | 89.67M | 80.85M | 86.63M | 48.44M | 63.3M | 71.54M | 36.6M | 49.33M | 30.43M | 25.7M | 12.7M | 0 |
| Effective Tax Rate % | 2.9% | 2.73% | -0.44% | 5.36% | 7.3% | -7.42% | -9.49% | 1.53% | -15.51% | 164.41% | 4.75% | -1.58% | 4.27% | 8.26% | 5.71% | 7.55% | 8.3% | 12.57% | 8.18% | 4.65% | 9.15% | 10.24% | 10.4% | 9.3% | 0% |
| Net Income | 1.1B | 597.92M | 1.1B | 1.9B | 1.68B | 553.95M | 422.44M | 661.21M | 775.91M | 127.86M | 424.19M | 781.04M | 1.08B | 992.39M | 1.26B | 961.36M | 502.16M | 381.41M | 803.04M | 750.33M | 490.3M | 250.02M | 221.33M | 123.84M | 70.56B |
| Net Margin % | 2.79% | 1.69% | 2.81% | 4.17% | 3.51% | 1.44% | 1.49% | 2.07% | 2.37% | 0.4% | 1.4% | 2.26% | 2.53% | 2.23% | 3.1% | 2.6% | 1.99% | 1.48% | 2.5% | 4.36% | 3.41% | 2.1% | 2.03% | 1.34% | 6.44% |
| Net Income Growth % | 83.29% | -45.76% | -42% | 13.2% | 203.05% | 31.13% | -36.11% | -14.78% | 506.86% | -69.86% | -45.69% | -27.78% | 8.97% | -21.28% | 31.13% | 91.44% | 31.66% | -52.5% | 7.03% | 53.04% | 96.11% | 12.96% | 78.72% | -99.82% | - |
| Net Income (Continuing) | 1.1B | 598M | 1.1B | 1.9B | 1.68B | 553.57M | 423.61M | 661.21M | 775.31M | 70.96M | 383.03M | 780.33M | 1.08B | 996.33M | 1.34B | 1.06B | 535.4M | 440.37M | 803.04M | 756.72M | 582.09M | 277.75M | 221.33M | 123.84M | 70.56B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 3.58M | 3.48M | 6.53M | 4.61M | 5.64M | 8.46M | 9.3M | 7.39M | 9.45M | 12.59M | 14.29M | 11.53M | 18.34M | 21.54M | 17.98M | 349.73M | 268.79M | 242.86M | 205.73M | 190.83M | 141.38M | 144.19M | 0 | 0 | 0 |
| EPS (Diluted) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS (Basic) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Basic Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | - | 78.44% | 15.3% | 8.88% | 10.05% | 30.45% | 39.93% | 36.97% | - | 81.25% | - | - | 26.52% | 38.39% | 20.68% | 14.72% | 30.65% | 65.22% | 24.28% | 17.73% | 12.75% | 20.63% | 2.25% | 1.45% | 83.03% |
Quick answers to the most common questions about buying CHSCL stock.
For fiscal year 2026, CHS Inc. (CHSCL) reported total revenue of $39.23B. This represents a 96.4% decline compared to $1.10T in 2002.
CHS Inc. (CHSCL) is profitable, generating $1.10B in net income for the fiscal year ending 2026 with a net profit margin of 2.8%.
CHS Inc. (CHSCL) reported an operating income of $576.9M, resulting in an operating profit margin of 1.5%. This margin reflects the operational efficiency of the business before interest and taxes.
CHS Inc. (CHSCL) generated $1.79B in gross profit for the year, representing a gross profit margin of 4.6%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Commodity price volatility exposure
Metrics are mathematically derived from official filings.
Persistent Revenue Contraction Trends Observed
As indicated by the most recent quarterly financial disclosures, CHSCL experienced a revenue decline of 9.68% year-over-year, reflecting a broader trend of top-line contraction that has persisted across multiple reporting periods as commodity price environments shift and export volumes face significant headwinds in global markets.
The consistent revenue decline suggests that the cooperative is struggling to maintain throughput levels in a cooling commodity price environment. Investors should monitor whether this trend represents a structural reduction in demand or merely cyclical volatility inherent to the agricultural farm products sector.
Structural Margin Compression Risks Intensify
According to the provided income statement data, gross margins have compressed to a razor-thin 0.3% in the most recent quarter, highlighting the extreme sensitivity of the company's high-volume, low-margin business model to fluctuations in raw material procurement costs and downstream energy product pricing dynamics.
The erosion of gross margins suggests that CHSCL lacks the pricing power to fully pass through input cost volatility to its member-owners. This thin margin profile leaves the organization with virtually no buffer to absorb operational inefficiencies or unexpected supply chain disruptions.
Operating Leverage Remains Highly Vulnerable
Based on reported figures, the company's operating margin plummeted to -1.8% in 2026Q2, demonstrating that the fixed cost base is not scaling effectively with revenue and that the firm is currently unable to generate sufficient operating income to cover its core administrative and logistical overhead.
The inability to maintain positive operating margins during revenue downturns indicates a high degree of operating leverage that works against the company when volumes contract. This suggests that the current cost structure may be too rigid to withstand prolonged periods of commodity price deflation.
Sustainability of Cooperative Earnings Model
Financial statements reveal that CHSCL's net income is subject to significant volatility, with recent quarterly results swinging into negative territory, which warrants further investigation into whether the cooperative's patronage-based model can sustain long-term capital reinvestment needs during extended periods of negative operating cash flow generation.
Short-term volatility in net income, exacerbated by derivative hedging and equity investment fluctuations, may mask the underlying health of the core business. Investors should be cautious about relying on historical patronage patterns as a proxy for future financial stability given the current trend of margin compression.