olivLaw · US equity research
Cvr Partners, LP UAN
Agricultural Chemicals · SIC 2870 · Vertical: Agricultural Chemicals (SIC 2870)
At the close of 04 Nov 2026, Cvr Partners, LP (UAN) stock was 112.02 USD (−5.56% on the day), with market capitalisation 1.2 bn USD, P/E 11.1 on diluted EPS of 10.06 USD over the last 12 months, beta 0.14, 52-week range 93.56–139.00 USD. Latest reported quarter (Q3 2026): revenue of 146.2 m USD (−10.6% YoY), net income of -10.7 m USD (−124.9% YoY), diluted EPS -1.02 USD.
Data as of · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 26.0
- oversold (≤ 30)
- Bollinger (20, 2)
- 117.41 – 132.60
- below the lower band · %B -0.35 · band width 12.1%
- SMA 50 / 200
- 127.40 / 121.72
- mixed trend
- MACD (12, 26, 9)
- -1.94 / -0.85
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.0% | −1.1% | −9.9 pp | — |
| 3 months | −11.5% | −0.5% | −11.1 pp | — |
| 6 months | −14.1% | +4.4% | −18.5 pp | — |
| Year to date | +9.3% | +12.3% | −3.0 pp | — |
| 1 year | +14.2% | +13.5% | +0.7 pp | −14.9% |
| 3 years | +39.7% | +76.4% | −36.7 pp | −63.6% |
| 5 years | +40.0% | +63.7% | −23.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 139.6 m | 142.9 m | 168.6 m | 163.5 m | 131.1 m | 180.0 m | 202.2 m | 146.2 m |
| Cost of revenue | 106.4 m | 100.4 m | 113.9 m | 103.0 m | 125.3 m | 112.6 m | 109.0 m | 137.7 m |
| SG&A | 7.3 m | 7.9 m | 8.0 m | 9.2 m | 8.5 m | 9.0 m | 7.5 m | 11.6 m |
| Operating income | 25.7 m | 34.6 m | 46.3 m | 50.6 m | -2.9 m | 57.6 m | 84.8 m | -3.6 m |
| Depreciation & amortisation | 24.0 m | 18.0 m | 20.9 m | 20.0 m | 23.0 m | 20.0 m | 22.2 m | 23.3 m |
| Pre-tax income | 18.4 m | 27.1 m | 38.8 m | 43.1 m | -10.3 m | 49.9 m | 77.5 m | -10.7 m |
| Income tax | 102.0 k | 0 | 0 | 0 | -23.0 k | 0 | 0 | 0 |
| Net income | 18.3 m | 27.1 m | 38.8 m | 43.1 m | -10.3 m | 49.9 m | 77.5 m | -10.7 m |
| Diluted EPS | 1.73 ≈ | 2.56 | 3.67 | 4.08 | -0.97 ≈ | 4.72 | 7.33 | -1.02 |
| Operating cash flow | 12.8 m | 55.4 m | 24.1 m ≈ | 91.7 m ≈ | -21.6 m | 75.8 m | 65.9 m ≈ | 116.7 m ≈ |
| Capex | 18.3 m | 9.9 m | 5.7 m ≈ | 11.6 m ≈ | 23.6 m | 17.0 m | 15.0 m ≈ | 32.5 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 71 percentile of its own 21-quarter history (min 3.2, median 10.0, max 1,920.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 351.1 m | 404.2 m | 350.0 m | 532.6 m | 835.6 m | 681.5 m | 525.3 m | 606.0 m |
| Revenue YoY | +6.1% | +15.1% | −13.4% | +52.2% | +56.9% | −18.4% | −22.9% | +15.4% |
| Net income | -50.0 m | -35.0 m | -98.2 m | 78.2 m | 286.8 m | 172.4 m | 60.9 m | 98.7 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | +267.0% | −39.9% | −64.7% | +62.0% |
| Diluted EPS | unavailable | -3.09 | -8.77 | 7.31 | 27.07 | 16.31 | 5.76 | 9.33 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | +270.3% | −39.7% | −64.7% | +62.0% |
| net % | -14.2% | -8.7% | -28.1% | 14.7% | 34.3% | 25.3% | 11.6% | 16.3% |
| Free cash flow | 12.4 m | 20.5 m | 1.1 m | 168.1 m | 256.8 m | 219.3 m | 113.5 m | 98.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 69.2 m USD
- Financial debt
- 778.0 k USD
- Net debt
- -68.5 m USD
- Equity
- unavailable USD
- Total assets
- 969.5 m USD
- Debt / equity
- unavailable
- Current ratio
- 2.21x
- ROE
- unavailable
- ROA
- 9.9%
- FCF margin
- 16.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 350.0 m | 532.6 m | 835.6 m | 681.5 m | 525.3 m | 606.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Cost of revenue | 325.1 m | 370.5 m | 483.2 m | 449.0 m | 406.5 m | 442.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Gross profit | 24.8 m ≈ | 162.0 m ≈ | 352.4 m ≈ | 232.5 m ≈ | 118.9 m ≈ | 163.4 m ≈ | SEC (XBRL)· 18 Feb 2026derived |
| SG&A | 18.2 m | 26.6 m | 32.2 m | 29.5 m | 28.4 m | 33.6 m | SEC (XBRL)· 18 Feb 2026verified |
| Operating income | -34.9 m | 134.5 m | 319.9 m | 201.4 m | 90.4 m | 128.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Depreciation & amortisation | 76.1 m | 73.5 m | 82.1 m | 79.7 m | 88.1 m | 81.9 m | SEC (XBRL)· 18 Feb 2026verified |
| EBITDA | 41.2 m ≈ | 208.0 m ≈ | 402.0 m ≈ | 281.1 m ≈ | 178.4 m ≈ | 210.5 m ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Pre-tax income | -98.2 m | 78.2 m | 287.0 m | 172.7 m | 61.0 m | 98.6 m | SEC (XBRL)· 18 Feb 2026verified |
| Income tax | 30.0 k | 57.0 k | 160.0 k | 289.0 k | 77.0 k | -23.0 k | SEC (XBRL)· 18 Feb 2026verified |
| Net income | -98.2 m | 78.2 m | 286.8 m | 172.4 m | 60.9 m | 98.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Diluted EPS | -8.77 | 7.31 | 27.07 | 16.31 | 5.76 | 9.33 | SEC (XBRL)· 18 Feb 2026verified |
| Weighted average diluted shares | 11.2 m | 10.7 m | 10.6 m | 10.6 m | 10.6 m | 10.6 m | SEC (XBRL)· 18 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 30.6 m | 112.5 m | 86.3 m | 45.3 m | 90.9 m | 69.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Receivables | 36.9 m | 88.4 m | 90.4 m | 41.9 m | 65.2 m | 59.0 m | SEC (XBRL)· 18 Feb 2026verified |
| Inventories | 42.3 m | 52.3 m | 77.5 m | 69.2 m | 75.6 m | 82.7 m | SEC (XBRL)· 18 Feb 2026verified |
| Current assets | 118.2 m | 262.2 m | 265.7 m | 165.9 m | 233.5 m | 213.9 m | SEC (XBRL)· 18 Feb 2026verified |
| Property, plant & equipment, net | 897.8 m | 850.5 m | 811.0 m | 761.0 m | — | — | SEC (XBRL)· 21 Feb 2024verified |
| Goodwill | 0 | 0 | 0 | — | — | — | SEC (XBRL)· 22 Feb 2023verified |
| Total assets | 1.0 bn | 1.1 bn | 1.1 bn | 975.3 m | 1.0 bn | 969.5 m | SEC (XBRL)· 18 Feb 2026verified |
| Accounts payable | 19.5 m | 41.5 m | 45.5 m | — | — | — | SEC (XBRL)· 22 Feb 2023verified |
| Short-term debt | 2.2 m | 0 | — | 0 | 877.0 k | 778.0 k | SEC (XBRL)· 18 Feb 2026verified |
| Long-term debt | 633.9 m | 610.6 m | 546.8 m | 547.3 m | — | — | SEC (XBRL)· 21 Feb 2024verified |
| Current liabilities | 76.3 m | 161.9 m | 126.1 m | 75.5 m | 111.3 m | 96.8 m | SEC (XBRL)· 18 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 19.7 m | 188.7 m | 301.5 m | 243.5 m | 150.5 m | 149.6 m | SEC (XBRL)· 18 Feb 2026verified |
| Capex | 18.6 m | 20.6 m | 44.7 m | 24.2 m | 37.1 m | 50.8 m | SEC (XBRL)· 18 Feb 2026verified |
| Free cash flow | 1.1 m ≈ | 168.1 m ≈ | 256.8 m ≈ | 219.3 m ≈ | 113.5 m ≈ | 98.8 m ≈ | SEC (XBRL)· 18 Feb 2026derived |
| Investing cash flow | -18.6 m | -20.3 m | -44.6 m | -2.7 m | -31.9 m | -44.1 m | SEC (XBRL)· 18 Feb 2026verified |
| Financing cash flow | -7.6 m | -86.4 m | -283.0 m | -281.9 m | -73.1 m | -127.2 m | SEC (XBRL)· 18 Feb 2026verified |
| Share repurchases | 7.1 m | 529.0 k | 12.4 m | 0 | 0 | — | SEC (XBRL)· 19 Feb 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 68 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet92
- Quality95
- Valuation84
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 60.70 – 209.63 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA140.01 – 209.63 (Mid 170.85)4 companies used · median multiple 7.3x · quartiles 5.9x – 9.2xCF, ICL, MOS, NTR
- Peers: P/E60.70 – 180.66 (Mid 117.69)4 companies used · median multiple 11.7x · quartiles 6.0x – 18.0xCF, EVGN, ICL, NTR
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 68/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 16.1% | 90 (vs peers) | 9% |
| FCF conversion · Quality | 139.8% | 100 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -10.2% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -29.9% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | -0.7x | 100 (on a fixed band) | 14% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.6x | 71 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 11.1x | 60 (vs peers) | 14% |
| EV/EBITDA · Valuation | 4.6x | 95 (on a fixed band) | 14% |
| FCF yield · Valuation | 12.6% | 100 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet92/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality95/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation84/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CVR PARTNERS, LP (UAN). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 606.0 m USD in 2025; YoY growth 15.4%; net margin 16.1%; net debt/EBITDA -0.7x.
The estimated value range is 100.35–195.14 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 144.27 USD, the price of 112.02 USD leaves a potential of 28.8% (value / price − 1) and a margin of safety of 22.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 68/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 16.1%
- FCF conversion: 139.8%
- Net debt / EBITDA: -0.7x
- Current ratio: 1.6x
- EV/EBITDA: 4.6x
- FCF yield: 12.6%
What contradicts it
- Revenue CAGR 3Y: -10.2%
- EPS CAGR 3Y: -29.9%
Not assessed (insufficient data or a ratio without meaning): ROIC, Interest coverage, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Agricultural Chemicals (SIC 2870) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| NTRNutrien Ltd. | 41.0 bn | 15.5 | 9.1% | 8.4% | +3.5% | +24% / +35% |
| CFCf Industries Holdings, Inc. | 16.9 bn | 7.9 | 46.7% | 32.3% | +19.3% | +42% / +49% |
| MOSMosaic Co | 6.9 bn | — | -9.3% | -9.4% | +8.4% | −12% / −40% |
| ICLIcl Group Ltd. | 5.9 bn | 25.4 | 3.9% | 3.2% | +4.6% | −18% / −9% |
| SMGScotts Miracle-Gro Co | 3.9 bn | 55.8 | — | 2.1% | −3.9% | +19% / +21% |
| UANCvr Partners, LP | 1.2 bn | 11.1 | — | 16.1% | +15.4% | +14% / +40% |
| AVDAmerican Vanguard Corporation | 28.8 m | — | -26.5% | -10.7% | −5.9% | −79% / −90% |
| BIOXBioceres Crop Solutions Corp. | 16.2 m | — | -19.1% | -16.5% | −27.9% | −85% / −98% |
| SNESSenestech, Inc. | 6.6 m | — | -107.4% | -294.7% | +19.6% | −58% / −87% |
| CBUSCibus, Inc. | 6.2 m | — | -225.9% | -2,258.9% | −14.6% | −9% / −90% |
| EVGNEvogene Ltd. | 3.1 m | 0.3 | — | -220.2% | −30.9% | −66% / −95% |
1- and 3-year price returns: for UAN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 59.94 Total return -46% · Per year -46% | 106.51 Total return -5% · Per year -5% | 161.17 Total return 44% · Per year 44% |
| 3 years | 47.60 Total return -58% · Per year -25% | 96.13 Total return -14% · Per year -5% | 161.17 Total return 44% · Per year 13% |
| 5 years | 37.79 Total return -66% · Per year -20% | 86.75 Total return -23% · Per year -5% | 161.17 Total return 44% · Per year 8% |
- Exit P/E± 24.03
- Net margin± 16.82
- Annual revenue growth± 15.19
- Annual dilution± 1.41
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report03 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report03 Nov 2026
- Quarterly report29 Jul 2026
- Current report29 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report23 Jun 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Quarterly report29 Apr 2026
- Current report29 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report18 Mar 2026Departure or appointment of officers · Amendments to articles or bylaws
- Current report03 Mar 2026Delisting notice
- Annual report18 Feb 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.