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CF Industries CF

CF Industries scores good on business quality (7.1 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$111.54Oct 10, 2026
Business qualityGood
Next earningsNov 4, 2026, after the close
Insiders, 90 daysQuiet

Why it matters

  1. What CF Industries does

    CF Industries produces and distributes agricultural fertilizers, primarily nitrogen and ammonia products, selling directly to farmers, cooperatives, and industrial users. The company is advancing clean energy initiatives through low-carbon ammonia production to capture future industrial decarbonization demand.

  2. What it does best

    CF operates massive North American manufacturing scale that underpins an operating margin of 38.5%, crushing peers like Mosaic at 5.0%. This localized production footprint gives it a permanent freight and supply chain advantage over imported alternatives.

  3. The main risk

    Cyclical commodity pricing creates severe top-line volatility, as seen when revenue dropped from $11.2B in 2022 to $5.9B in 2024. When global nitrogen prices soften, gross margins compress rapidly despite efficient operations.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin of 38.5% and FCF margin of 24.7% place CF in the top quartile of its sector. Profitability is exceptionally high and expands efficiently as production volume scales up.

MoatFair

Scale and distribution infrastructure lock in agricultural and industrial buyers across North America, placing CF in the top decile for operating margin and ROE of 40.4% within its sector.

GrowthSteady

Revenue grew 19.3% to $7.7B over the latest period, rebounding nicely from the 2024 dip to $5.9B. This growth outpaces the historical trend, reflecting firm volume demand in core agricultural nutrients.

Financial healthStrong

Total debt of $3.2B is comfortably managed by an interest coverage ratio of 19x, making debt costs minimal. Free cash flow reached $1.9B alongside $2.0B in cash, ensuring the balance sheet is getting stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on CF

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is CF a good business?

CF Industries scores good on the Cluenex quality check (7.1 of 10), measured against its own industry. Profitability is strong, moat fair, growth steady and financial health strong.

Are insiders buying CF?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does CF report earnings?

Nov 4, 2026, after the close.

For members

See CF today

  • Today's verdict on CF, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “CF Industries (CF)”, https://cluenex.com/stocks/cf/, data as of Oct 10, 2026.