What is the primary revenue source for CF Industries (CF)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze CF's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out CF Industries's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How CF Industries Makes Money: CF Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

Operating margin improved by 16.1 percentage points year over year.

Revenue: USD 4.21B
Largest revenue segment share (Urea): 32.06%
Cost of revenue: USD 2.32B
Income tax expense: USD 392.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueNet sales · Revenues
Cost of revenueCost of sales · CostOfRevenue
Income tax expenseIncome tax provision · IncomeTaxExpenseBenefit
Largest revenue segment share (Urea)Urea · segment_value / revenue * 100
Operating marginOperating earnings · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Property, plant and equipment: USD 6.76B
Goodwill: USD 2.49B
Cash and cash equivalents: USD 2.48B
Shareholder equity: USD 8.92B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Cash and cash equivalentsCash and cash equivalents (amount related to variable interest entity (vie)— 2026: $341, 2025: $130) · CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, plant and equipment—net (amount related to vie—2026: $504, 2025: $361) · PropertyPlantAndEquipmentNet

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 102.38% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 1.34B
Operating cash flow: USD 1.37B
Cash conversion: 102.38%
Free cash flow: USD 880.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeProfitLoss - NetIncomeLossAttributableToNoncontrollingInterest
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Steady

Dividends and net buybacks are covered by free cash flow, so cash genuinely reached shareholders.

Cash dividends: USD 155.00M
Share repurchases: USD 253.00M
Stock issuance proceeds: USD 1.00M
Net shareholder return: USD 407.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsProceeds from issuances of common stock under employee stock plans · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?