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CF Industries Holdings Inc CF

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Stock XNYS Rating as of
$79.20 +0.65 (0.83%)
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CF Industries' Low-Cost Nitrogen Production Should Remain Profitable as Prices Stabilize

Seth Goldstein

CF Industries is the largest nitrogen producer in North America, with production based in the United States and Canada. CF's plants, which benefit from low-cost North American natural gas, are connected to its main customers in the U.S. Corn Belt by an extensive distribution network of pipelines, rail, and barge, giving the company a transportation cost advantage over foreign competition without pipeline access.

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Price vs Fair Value

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CF is trading at a 7% discount.
Price
$78.80
Fair Value
$62.00
Uncertainty
High
1-Star Price
$374.16
5-Star Price
$37.00
Economic Moat
Hytgds
Capital Allocation
Qzwkqsc

Bulls Say, Bears Say

Bulls

High shipping and storage costs for importers of nitrogen fertilizer limit the competition CF faces in North American markets from outside regions with low natural gas costs.

Bears

Soybeans, which do not require nitrogen fertilizer, have seen a growing share of planted acres in North America, hurting nitrogen fertilizer demand.

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Trading Information

Previous Close Price
$78.55
Day Range
$78.10–79.36
52-Week Range
$60.09–87.75
Bid/Ask
$79.18 / $79.23
Market Cap
$14.87 Bil
Volume/Avg
525,798 / 2.7 Mil

Key Statistics

Price/Earnings (Normalized)
9.87
Price/Sales
2.30
Dividend Yield (Trailing)
2.16%
Dividend Yield (Forward)
2.55%
Total Yield
6.08%

Company Profile

CF Industries is a leading producer and distributor of nitrogen, which is primarily used in fertilizers. The company operates nitrogen manufacturing plants primarily in North America. CF also produces nitrogen in the United Kingdom and holds a joint venture interest in a nitrogen production facility in Trinidad and Tobago. CF makes nitrogen primarily using low-cost U.S. natural gas as its feedstock, making CF one of the lowest-cost nitrogen producers globally. The company is also investing in carbon-free blue and green ammonia, which can be used an alternative fuel to hydrogen or as a means to transport hydrogen.
Sector
Basic Materials
Industry
Agricultural Inputs
Stock Style Box
Mid Core
Total Number of Employees
2,700
Website
https://www.cfindustries.com

Competitors

Valuation

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Metric
CF
APD
NTR
Price/Earnings (Normalized)
 9.8720.098.93
Price/Book Value
 2.593.491.04
Price/Sales
 2.304.190.90
Price/Cash Flow
 5.5614.585.74
Price/Earnings
CF
APD
NTR

Financial Strength

Metric
CF
APD
NTR
Quick Ratio
 3.171.520.52
Current Ratio
 3.811.811.17
Interest Coverage
 15.5016.383.51
Quick Ratio
CF
APD
NTR

Profitability

Metric
CF
APD
NTR
Return on Assets (Normalized)
 13.81%8.41%4.08%
Return on Equity (Normalized)
 33.93%18.26%8.70%
Return on Invested Capital (Normalized)
 16.31%10.72%6.88%
Return on Assets
CF
APD
NTR
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