XVARY Composite Score
47
/ 100
Below Average
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
Start here if you're new
What it is
CVR Partners makes two farm chemicals, ammonia and UAN fertilizer, and sells them wholesale across the U.S.
How it gets paid
Last year CVR Partners, L.P made $606M in revenue. Coffeyville UAN was the main engine at $292M, or 48% of sales.
Why it's growing
Revenue grew 15.4% last year. Releases cite planned turnaround downtime and third-party air-separation startup issues weighing on Q4 volumes— full-year still benefited from nitrogen pricing.
What just happened
Q4 2025 net sales ~ $131M with a ~$ net loss per common unit— FY 2025 net sales ~ $606M and net income ~ $9.33 /unit.
At a Glance
C++ balance sheet — some cracks in the foundation
10/100 earnings predictability — expect surprises
16.6x trailing p/e — the market's not buying it — or you found a deal
8.1% dividend yield — cash in your pocket every quarter
8.8% return on capital — nothing to write home about
XVARY composite: 47/100 — below average
What They Do
CVR Partners makes two farm chemicals, ammonia and UAN fertilizer, and sells them wholesale across the U.S.
This business wins on location and weird infrastructure. Its two plants sit in the farm belt, and the Coffeyville site has an 89 million standard cubic feet per day hydrogen system that lets it use petroleum coke instead of only natural gas. Translation: feedstock flexibility (how it buys key inputs) → cheaper production options → so what: when input prices move, you have more ways to stay alive than a one-plant rival.
How They Make Money
$606M
annual revenue · their business grew +15.4% last year
Coffeyville UAN
$292M
Coffeyville ammonia
$123M
East Dubuque UAN
$90M
East Dubuque ammonia
$101M
The Products That Matter
Liquid nitrogen fertilizer
urea ammonium nitrate (UAN)
~$382M · Coffeyville + East Dubuque UAN
UAN is the center of gravity— segment lines in FY materials bridge to the ~$606M consolidated net sales total (Coffeyville UAN ~$292M + East Dubuque UAN ~$90M ≈ ~$382M).
core product
Base fertilizer ingredient
ammonia
~$224M · ammonia (both sites)
Ammonia is sold outright and feeds UAN— Coffeyville + East Dubuque ammonia lines sum to ~$224M in the FY revenue bridge shown above.
price-sensitive
Key Numbers
21.2%
operating margin
Operating margin → money left after running the business → so what: UAN kept about $0.21 from each $1 of sales in FY2024 estimates.
16.6x
trailing p/e
P/E → share price divided by profit per share → so what: you are paying $16.60 for each $1 of trailing earnings.
8.1%
dividend yield
Dividend yield → cash paid to you versus the stock price → so what: the payout is high, but it will swing with fertilizer profits.
$580M
long debt
Long-term debt → money owed beyond one year → so what: that is a large fixed claim on a business with volatile profits.
Financial Health
C++
Strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 2 — safer than 80% of stocks
- price stability 20 / 100
- long-term debt $580M (30% of capital)
C++ — risk rank looks solid but balance sheet grade needs watching.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
Q4 + FY 2025
Q4 2025 net sales ~$131M with a ~$(0.97) net loss per common unit— FY 2025 net sales ~$606M and net income ~$9.33/unit.
Releases cite planned turnaround downtime and third-party air-separation startup issues weighing on Q4 volumes— full-year still benefited from nitrogen pricing. Always read common-unit lines in the LP filing, not a random “EPS” from another period.
~$131M
Q4 2025 net sales
~$(0.97)
Q4 net loss / common unit
~$9.33
FY 2025 net income / unit
the number that mattered
The Q4 loss per unit vs. a strong FY profit per unit is the LP story in one frame— distributions and commodity torque do not move in straight lines.
source: CVR Partners Q4 / FY 2025 results (recaps) · Business Wire (preliminary) · Yahoo recap
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. Plain English, no spam.
Weekly updates
Earnings alerts
Plain English
No spam
What Could Go Wrong
The #1 risk is unplanned downtime at its two nitrogen facilities (Coffeyville, KS and East Dubuque, IL). Turnarounds and third-party utility hiccups already showed how fast volumes—and cash available for distributions— can swing.
Med
Single-plant concentration
The source pack ties all $606M of product revenue to one facility. If that plant goes down, there is no second site to absorb the shock.
the direct hit is simple: production stops, revenue pauses, and the variable payout has nothing to lean on
Med
Fertilizer price pressure from imports
The current page flags Russian fertilizer imports as a risk to U.S. pricing. If domestic prices get undercut, margins compress before management can do much about it.
the existing range on the page points to $61M–$91M of annual revenue at risk, though the underlying model is not shown here
Med
Feedstock and spread volatility
This company's partial edge is the ability to switch between natural gas and petroleum coke. That helps. It does not remove commodity risk. When input costs rise faster than fertilizer prices, the quarter can flip fast.
the page cites margins averaging 46%, which is another way of saying the swings are large enough to matter a lot
A disruption at one plant puts the entire revenue base at risk, and an 8.1% yield does not protect you if $525M of sales starts wobbling.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Calendar
Q1 2026 earnings report
Scheduled for May 3, 2026. The number that matters is not just EPS. It is whether pricing and plant uptime were strong enough to support the next cash distribution.
Risk
Import pressure on domestic fertilizer prices
The page already flags Russian fertilizer imports as a top threat. If U.S. pricing softens, the income story weakens with it.
Metric
Corn planting and fertilizer demand
Corn demand is the demand engine behind this business. If farmers plant less aggressively, fertilizer volumes and pricing both lose support.
Ownership
Institutional ownership is meaningful, but flow data is thin
43.83% of the units are institutionally held. That is enough to matter, but the source pack does not yet give you a clean accumulation or distribution trend.
Analyst Rankings
earnings predictability
10 / 100
in human-speak, analysts do not trust the quarter-to-quarter line here. fertilizer pricing and plant performance can move too fast.
risk rank
2
on this scale, that reads safer than 80% of stocks. the contradiction is real: balance sheet risk looks manageable while operating concentration stays high.
Source: institutional data
Institutional Activity
institutional ownership data for UAN is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$96
Current price
Target midpoint · from current
Want the deeper analysis?
The full deep dive: DCF model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
See plans from $5/moThe Deep Dive