CVR Energy (CVI) financial statements
CVR Energy reported revenue of $7.2B in fiscal 2025, up 4.6% a year over 9 years.
Net income was $27M and the operating margin 2.5%, against 1.5% in 2016.
Free cash flow was -$41M.
The diluted share count rose 16% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CVR Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.8B | $6.0B | $7.1B | $6.4B | $3.9B | $7.2B | $10.9B | $9.2B | $7.6B | $7.2B |
| Cost of revenue | $4.6B | $5.7B | $6.5B | $5.7B | $4.1B | $7.0B | $9.8B | $8.0B | $7.4B | $6.8B |
| Gross profit | $190M | $272M | $661M | $702M | -$189M | $218M | $1.1B | $1.3B | $205M | $346M |
| Selling, general and admin | $110M | $113M | $112M | $117M | $86M | $119M | $149M | $141M | $139M | $148M |
| Operating income | $70M | $145M | $532M | $580M | -$333M | $87M | $963M | $1.1B | $58M | $182M |
| Interest expense | $84M | $110M | — | — | — | — | $93M | $90M | $115M | $139M |
| Pre-tax income | -$11M | $38M | $445M | $491M | -$415M | $66M | $801M | $1.1B | $19M | $80M |
| Income tax | -$20M | -$220M | $79M | $129M | -$95M | -$8M | $157M | $207M | -$26M | -$10M |
| Net income | $25M | $263M | $259M | $380M | -$256M | $25M | $463M | $769M | $7M | $27M |
| EPS (diluted) | $0.28 | $3.03 | $2.80 | $3.78 | -$2.54 | $0.25 | $4.60 | $7.65 | $0.06 | $0.27 |
| Diluted shares | 87M | 87M | 92M | 100M | 100M | 100M | 100M | 100M | 100M | 100M |
| Gross margin | 4.0% | 4.5% | 9.3% | 11.0% | -4.8% | 3.0% | 10.4% | 13.8% | 2.7% | 4.8% |
| Operating margin | 1.5% | 2.4% | 7.5% | 9.1% | -8.5% | 1.2% | 8.8% | 12.1% | 0.8% | 2.5% |
| Net margin | 0.5% | 4.4% | 3.6% | 6.0% | -6.5% | 0.3% | 4.2% | 8.3% | 0.1% | 0.4% |
Balance sheet
Fiscal years, from CVR Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $736M | $482M | $668M | $652M | $667M | $510M | $510M | $581M | $987M | $511M |
| Receivables | $152M | $179M | $169M | $182M | $178M | $299M | $358M | $286M | $295M | $235M |
| Inventory | $349M | $369M | $380M | $373M | $298M | $484M | $624M | $604M | $502M | $472M |
| Total current assets | $1.3B | $1.1B | $1.3B | $1.3B | $1.4B | $1.4B | $1.6B | $2.2B | $1.8B | $1.3B |
| Property, plant and equipment | $2.7B | $2.6B | $2.4B | $2.3B | $2.2B | $2.3B | $2.2B | $2.2B | $2.2B | $2.0B |
| Goodwill | $41M | $41M | — | — | $0 | $0 | $0 | — | — | — |
| Total assets | $4.0B | $3.8B | $4.0B | $3.9B | $4.0B | $3.9B | $4.1B | $4.7B | $4.3B | $3.7B |
| Total current liabilities | $566M | $544M | $496M | $596M | $659M | $1.2B | $1.4B | $1.7B | $1.1B | $706M |
| Long-term debt | $1.2B | $1.2B | $1.2B | $1.2B | $1.7B | $1.7B | $1.6B | $1.6B | $1.9B | $1.8B |
| Total liabilities | $2.3B | $2.0B | $2.1B | $2.2B | $2.8B | $3.1B | $3.3B | $3.7B | $3.4B | $2.8B |
| Shareholders' equity | $858M | $919M | $1.3B | $1.4B | $1.0B | $553M | $531M | $847M | $703M | $730M |
| Net debt | $427M | $682M | $499M | $538M | $1.0B | $1.1B | $1.1B | $998M | $920M | $1.2B |
Cash flow
Fiscal years, from CVR Energy's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $267M | $248M | $628M | $747M | $90M | $396M | $967M | $948M | $404M | $144M |
| Capital spending | $133M | $120M | $102M | $121M | $124M | $224M | $191M | $205M | $179M | $185M |
| Free cash flow | $134M | $128M | $526M | $626M | -$34M | $172M | $776M | $743M | $225M | -$41M |
| Stock-based compensation | $9M | $19M | $16M | $17M | $4M | $46M | $71M | $34M | $15M | $42M |
| Dividends paid | $174M | $174M | $238M | $306M | $121M | $241M | $483M | $453M | $151M | $0 |
| Share buybacks (net) | — | — | $0 | $0 | -$7M | -$1M | -$12M | $0 | $0 | — |
| Net borrowing | $629M | $0 | $0 | $0 | $500M | -$32M | -$65M | $600M | -$275M | $0 |
| Free cash flow margin | 2.8% | 2.1% | 7.4% | 9.8% | -0.9% | 2.4% | 7.1% | 8.0% | 3.0% | -0.6% |
| Dividends per share | $2.00 | $2.00 | $2.57 | $3.04 | $1.20 | $2.40 | $4.81 | $4.51 | $1.50 | — |
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Open CVI in InvestinglyQuestions
What was CVR Energy's revenue in 2025?
$7.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does CVR Energy generate?
-$41M in fiscal 2025 (operating cash flow minus capital spending).
From CVR Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.