Nutrien Ltd.

NTR

NYSE · Fertilizers & Ag Chemicals

$71.48

At close - Nov 6, 4:00 PM EST - USD

Market Cap$34.31B

P/E15.5x

52W High$85.36

Volume1.62M

VCP Research Verdict2026Q2

Cyclical Recovery Confronts Goodwill Overhang

Nutrien is experiencing a cyclical revenue recovery, with Q1 2026 showing 18.5% year-over-year growth after a period of contraction, suggesting improved pricing and demand dynamics in its core agricultural inputs business.

GrowthMixed

ProfitabilityModerate

ValuationReview

TechnicalsMixed

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MARKET ACTION

NTR price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue growth has re-accelerated to 18.5% year-over-year in Q1 2026, but cyclicality drives extreme margin volatility, with gross margins ranging from 25.9% in trough quarters to 35.4% in peak quarters.

Analyst Consensus+5.2% target

Buy(33 analysts)

20 Buy10 Hold3 Sell

The Bull Case

Upside Catalysts

Leading global crop inputs provider

Nutrien operates a world-class network of production, distribution, and ag retail facilities, positioning it to efficiently serve farmers globally.

Attractive valuation metrics

Nutrien's trailing P/E of 21.49 and forward P/E of 11.85 suggest potential undervaluation, making it an appealing investment opportunity.

Market leadership in fertilizers

As the largest producer of potash and second-largest producer of nitrogen fertilizer globally, Nutrien holds a dominant position in the fertilizer market.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

NTR+15.79%

S&P 500 (^GSPC)+7.63%

1-Year Return

NTR+32.53%

S&P 500 (^GSPC)+9.69%

3-Year Return

NTR+44.93%

S&P 500 (^GSPC)+67.27%

5-Year Return

NTR+18.85%

S&P 500 (^GSPC)+55.49%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/EMedian

15.5x

Forward P/EExpansion

14.7x

EV/EBITDA80th %ile

7.2x

FCF YieldCash Flow

6.1%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

15.5x

13.7x

60th· Fair

EV/EBITDA

7.2x

6.6x

80th· High

Price/FCF

16.4x

14.7x

80th· High

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$55.07-23.0%

Base (Fair)$114.59+60.3%

Bull$209.60+193.2%

$55.07 Bear$114.59 Base$209.60 Bull

Current Market Price: $71.48

Trades at a 37.6% discount to Base DCF ($114.59)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$26.89B+3.5% YoY

Net income FY25

$2.27B+236.4% YoY

Free cash flow FY25

$2.04B+47.5% YoY

Operating margin FY25

14.4%+3.0 pts YoY

ROIC (FY25)7.8%

Avg ROIC 5Y11.1%

ROE (TTM)8.6%

Piotroski Score8 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate5/12 (42%)

Revenue Beat Rate7/12 (58%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Nov 4, 2026	$0.61-17.6% vs $0.74	$5.7B+0.6% vs $5.7B
Q3 2026 Aug 5, 2026	$2.61-3.3% vs $2.70	$10.5B+0.3% vs $10.4B
Q2 2026 May 6, 2026	$0.51+6.3% vs $0.48	$5.7B+7.3% vs $5.3B
Q1 2026 Feb 18, 2026	$0.83-4.6% vs $0.87	$5.1B-5.6% vs $5.4B

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

Seeking Alpha·2d ago

Nutrien Ltd. (NTR:CA) Q3 2026 Earnings Call Transcript

Nutrien Ltd. ( NTR:CA ) Q3 2026 Earnings Call November 5, 2026 10:00 AM EST Company Participants Jeff Holzman - Vice President of Investor Relations Kenneth Seitz - President, CEO & Non-Independent Director Mark Thompson - Executive VP & CFO Jason Newton - Head Economist Christopher Reynolds - Executive Vice President of Global Sales Conference Call Participants Andrew Wong - RBC Capital Markets, Research Division Hamir Patel - CIBC Capital Markets, Research Division Ben Isaacson - Scotiabank Global Banking and Markets, Research Division Joel Jackson - BMO Capital Markets Equity Research Vincent Andrews - Morgan Stanley, Research Division Christopher Parkinson - Wolfe Research, LLC Steven Hansen - Raymond James Ltd.

Reuters·2d ago

Nutrien sees strong potash demand, weakness in pricey nitrogen fertilizer

Zacks Investment Research·3d ago

Compared to Estimates, Nutrien (NTR) Q3 Earnings: A Look at Key Metrics

Although the revenue and EPS for Nutrien (NTR) give a sense of how its business performed in the quarter ended September 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Zacks Investment Research·3d ago

Nutrien (NTR) Misses Q3 Earnings Estimates

Nutrien (NTR) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.97 per share a year ago.

Filtered for Nutrien Ltd.More Headlines

Compare before deciding

Benchmark NTR against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Nutrien Ltd. (NTR)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
NTRNutrien Ltd.Current	$71.48	$34.31B	15.50	3.52%	7.78%	8.6%	3.1%
MOSThe Mosaic Company	$22.36	$7.11B	-16.14	8.36%	-3.82%	-3.72%	3.93%
CFCF Industries Holdings, Inc.	$119.39	$18.34B	8.29	19.34%	27.48%	25.78%	1.68%
ICLICL Group Ltd	$4.68	$6.04B	19.81	4.56%	3.95%	4.8%	3.71%
SMGThe Scotts Miracle-Gro Company	$64.71	$3.76B	36.12	-3.64%	3.16%	—	4.05%
AVDAmerican Vanguard Corporation	$0.96	$27.54M	-0.51	-5.88%	-10.7%	-27.84%	—

Compare NTR vs Peers

Nutrien Ltd. (NTR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MOS

Most directly comparable listed peer for NTR.

Scale Benchmark

vs DE

Larger-name benchmark to compare NTR against a more recognizable public peer.

Peer Set

Compare Top 5

vs MOS, CF, ICL, SMG

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NTR Frequently Asked Questions

Nutrien Ltd. (NTR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Nutrien Ltd.'s revenue?

Nutrien Ltd. (NTR) reported $28.26B in revenue over the trailing twelve months. Revenue was $26.89B in fiscal year 2025. That is 1815% more than the $1.40B of fiscal year 1996.

How fast is Nutrien Ltd. growing?

Nutrien Ltd. (NTR) grew revenue by 6.2% over the trailing twelve months, compared with the twelve months before.

Is NTR profitable?

Yes. Nutrien Ltd. (NTR) earned $2.20B in net income over the trailing twelve months (a 7.8% net margin).

Dividend & Returns

Does NTR pay dividends?

Yes. Nutrien Ltd. (NTR) pays a dividend that yields 3.10% at the current price, a moderate yield.

What is NTR's return on equity?

Nutrien Ltd. (NTR) had a return on equity (ROE) of 8.6% over the trailing twelve months. That is below the market's typical 10-15%.

What is Nutrien Ltd.'s free cash flow?

Nutrien Ltd. (NTR) generated $2.09B in free cash flow over the trailing twelve months.

What if you invested $1,000 in NTR back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Nov 4, 2026

$0.61-17.6%

vs $0.74

$5.7B+0.6%

vs $5.7B

Q3 2026

Aug 5, 2026

$2.61-3.3%

vs $2.70

$10.5B+0.3%

vs $10.4B

Q2 2026

May 6, 2026

$0.51+6.3%

vs $0.48

$5.7B+7.3%

vs $5.3B

Q1 2026

Feb 18, 2026

$0.83-4.6%

vs $0.87

$5.1B-5.6%

vs $5.4B

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

NTRNutrien Ltd.Current

$71.48

$34.31B

15.50

3.52%

7.78%

8.6%

3.1%

MOSThe Mosaic Company

$22.36

$7.11B

-16.14

8.36%

-3.82%

-3.72%

3.93%

CFCF Industries Holdings, Inc.

$119.39

$18.34B

8.29

19.34%

27.48%

25.78%

1.68%

ICLICL Group Ltd

$4.68

$6.04B

19.81

4.56%

3.95%

4.8%

3.71%

SMGThe Scotts Miracle-Gro Company

$64.71

$3.76B

36.12

-3.64%

3.16%

—

4.05%

AVDAmerican Vanguard Corporation

$0.96

$27.54M

-0.51

-5.88%

-10.7%

-27.84%

—