CVR Energy Financials
This page shows CVR Energy (CVI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
CVR Energy has an operating margin of 0.8%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 4/100, suggesting thin profitability after operating expenses. This is down from 12.1% the prior year.
CVR Energy's revenue declined 17.7% year-over-year, from $9.2B to $7.6B. This contraction results in a growth score of 0/100.
CVR Energy has elevated debt relative to equity (D/E of 2.70), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 11/100, reflecting increased financial risk.
CVR Energy's current ratio of 1.66 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
CVR Energy's free cash flow margin of 3.0% results in a low score of 15/100. Capital expenditures of $179.0M absorb a large share of operating cash flow.
CVR Energy generates a 1.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 4/100. This is down from 90.8% the prior year.
CVR Energy scores 2.16, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
CVR Energy passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, CVR Energy generates $57.71 in operating cash flow ($404.0M OCF vs $7.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CVR Energy earns $0.5 in operating income for every $1 of interest expense ($58.0M vs $115.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
CVR Energy generated $7.6B in revenue in fiscal year 2024. This represents a decrease of 17.7% from the prior year.
CVR Energy's EBITDA was $356.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 74.9% from the prior year.
CVR Energy generated $225.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 69.7% from the prior year.
CVR Energy reported $7.0M in net income in fiscal year 2024. This represents a decrease of 99.1% from the prior year.
CVR Energy earned $0.06 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 99.2% from the prior year.
CVR Energy held $987.0M in cash against $1.9B in long-term debt as of fiscal year 2024.
CVR Energy had 101M shares outstanding in fiscal year 2024.
CVR Energy's gross margin was 2.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 11.1 percentage points from the prior year.
CVR Energy's operating margin was 0.8% in fiscal year 2024, reflecting core business profitability. This is down 11.4 percentage points from the prior year.
CVR Energy's net profit margin was 0.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.2 percentage points from the prior year.
CVR Energy's ROE was 1.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 89.8 percentage points from the prior year.
CVR Energy spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
CVR Energy invested $179.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 12.7% from the prior year.
CVI Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+10.4% | $1.8B+7.0% | $1.6B-15.5% | $1.9B-1.0% | $2.0B+5.6% | $1.9B-15.4% | $2.2B-12.6% | $2.5B |
| Cost of Revenue | $1.4B-24.2% | $1.8B+5.2% | $1.7B-8.0% | $1.9B-1.1% | $1.9B+12.2% | $1.7B-16.7% | $2.0B+0.3% | $2.0B |
| Gross Profit | $560.0M+948.5% | -$66.0M+27.5% | -$91.0M-256.9% | $58.0M+1.8% | $57.0M-64.6% | $161.0M+0.6% | $160.0M-67.0% | $485.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $42.0M+16.7% | $36.0M-2.7% | $37.0M+5.7% | $35.0M+25.0% | $28.0M-22.2% | $36.0M+12.5% | $32.0M-15.8% | $38.0M |
| Operating Income | $512.0M+597.1% | -$103.0M+21.4% | -$131.0M-723.8% | $21.0M-22.2% | $27.0M-78.0% | $123.0M-0.8% | $124.0M-72.1% | $445.0M |
| Interest Expense | $32.0M-13.5% | $37.0M+5.7% | $35.0M+25.0% | $28.0M+3.7% | $27.0M-18.2% | $33.0M-75.6% | $135.0M+1327.3% | -$11.0M |
| Income Tax | $88.0M+309.5% | -$42.0M+14.3% | -$49.0M-345.5% | -$11.0M+57.7% | -$26.0M-252.9% | $17.0M-26.1% | $23.0M-72.6% | $84.0M |
| Net Income | $374.0M+428.1% | -$114.0M+7.3% | -$123.0M-539.3% | $28.0M+33.3% | $21.0M-74.4% | $82.0M-9.9% | $91.0M-74.2% | $353.0M |
| EPS (Diluted) | $3.72+426.3% | $-1.14+6.6% | $-1.22-535.7% | $0.28+33.3% | $0.21-74.1% | $0.81-11.0% | $0.91-74.1% | $3.51 |
CVI Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.0B+0.2% | $4.0B-6.3% | $4.3B-0.3% | $4.3B+6.5% | $4.0B-2.2% | $4.1B-13.0% | $4.7B+6.5% | $4.4B |
| Current Assets | $1.5B+6.2% | $1.4B-15.6% | $1.6B-9.6% | $1.8B+22.3% | $1.5B-4.1% | $1.6B-28.6% | $2.2B+15.5% | $1.9B |
| Cash & Equivalents | $670.0M+12.4% | $596.0M-14.2% | $695.0M-29.6% | $987.0M+68.4% | $586.0M-9.0% | $644.0M+10.8% | $581.0M-34.6% | $889.0M |
| Inventory | $509.0M+1.2% | $503.0M-14.0% | $585.0M+16.5% | $502.0M-7.6% | $543.0M-9.7% | $601.0M-0.5% | $604.0M-1.0% | $610.0M |
| Accounts Receivable | $253.0M+3.3% | $245.0M-23.4% | $320.0M+8.5% | $295.0M-1.0% | $298.0M+17.8% | $253.0M-11.5% | $286.0M-9.5% | $316.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.2B-10.4% | $3.5B-4.2% | $3.7B+3.1% | $3.6B+12.9% | $3.2B-1.9% | $3.2B-16.7% | $3.9B+11.4% | $3.5B |
| Current Liabilities | $755.0M-36.6% | $1.2B-5.0% | $1.3B+14.2% | $1.1B+7.4% | $1.0B-2.0% | $1.0B-38.0% | $1.7B+28.3% | $1.3B |
| Long-Term Debt | $1.8B0.0% | $1.8B-5.3% | $1.9B0.0% | $1.9B+26.7% | $1.5B0.0% | $1.5B-28.6% | $2.1B+32.7% | $1.6B |
| Total Equity | $840.0M+80.3% | $466.0M-19.7% | $580.0M-17.5% | $703.0M-17.2% | $849.0M-3.4% | $879.0M+3.8% | $847.0M-11.5% | $957.0M |
| Retained Earnings | -$667.0M+35.9% | -$1.0B-12.3% | -$927.0M-15.3% | -$804.0M-22.2% | -$658.0M-4.8% | -$628.0M+4.8% | -$660.0M-20.0% | -$550.0M |
CVI Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $163.0M-7.4% | $176.0M+190.3% | -$195.0M-299.0% | $98.0M+21.0% | $81.0M-54.2% | $177.0M+591.7% | -$36.0M-109.7% | $370.0M |
| Capital Expenditures | $38.0M-7.3% | $41.0M-19.6% | $51.0M-7.3% | $55.0M+27.9% | $43.0M-8.5% | $47.0M-14.5% | $55.0M+10.0% | $50.0M |
| Free Cash Flow | $125.0M-7.4% | $135.0M+154.9% | -$246.0M-672.1% | $43.0M+13.2% | $38.0M-70.8% | $130.0M+242.9% | -$91.0M-128.4% | $320.0M |
| Investing Cash Flow | -$42.0M+77.3% | -$185.0M-125.6% | -$82.0M-290.7% | $43.0M+158.1% | -$74.0M-34.5% | -$55.0M+5.2% | -$58.0M-13.7% | -$51.0M |
| Financing Cash Flow | -$47.0M+47.8% | -$90.0M-500.0% | -$15.0M-104.8% | $312.0M+580.0% | -$65.0M+90.2% | -$664.0M-272.9% | $384.0M+312.2% | -$181.0M |
| Dividends Paid | $0 | $0 | $0 | $0-100.0% | $51.0M+2.0% | $50.0M-75.2% | $202.0M+34.7% | $150.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
CVI Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.8%+32.6pp | -3.8%+1.8pp | -5.5%-8.5pp | 3.0%+0.1pp | 2.9%-5.7pp | 8.6%+1.4pp | 7.3%-12.0pp | 19.2% |
| Operating Margin | 26.3%+32.2pp | -5.9%+2.1pp | -8.0%-9.0pp | 1.1%-0.3pp | 1.4%-5.2pp | 6.6%+1.0pp | 5.6%-12.0pp | 17.6% |
| Net Margin | 19.2%+25.7pp | -6.5%+1.0pp | -7.5%-8.9pp | 1.4%+0.4pp | 1.1%-3.3pp | 4.4%+0.3pp | 4.1%-9.9pp | 14.0% |
| Return on Equity | 44.5% | N/A | N/A | 4.0%+1.5pp | 2.5%-6.9pp | 9.3%-1.4pp | 10.7%-26.2pp | 36.9% |
| Return on Assets | 9.4%+12.2pp | -2.9%+0.0pp | -2.9%-3.5pp | 0.7%+0.1pp | 0.5%-1.5pp | 2.0%+0.1pp | 1.9%-6.0pp | 8.0% |
| Current Ratio | 1.96+0.8 | 1.17-0.1 | 1.31-0.3 | 1.66+0.2 | 1.46-0.0 | 1.49+0.2 | 1.30-0.1 | 1.44 |
| Debt-to-Equity | 2.14-1.7 | 3.86+0.6 | 3.28+0.6 | 2.70+0.9 | 1.77+0.1 | 1.71-0.8 | 2.48+0.8 | 1.65 |
| FCF Margin | 6.4%-1.2pp | 7.7%+22.6pp | -14.9%-17.2pp | 2.2%+0.3pp | 1.9%-5.1pp | 7.0%+11.1pp | -4.1%-16.8pp | 12.7% |
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Frequently Asked Questions
What is CVR Energy's annual revenue?
CVR Energy (CVI) reported $7.6B in total revenue for fiscal year 2024. This represents a -17.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CVR Energy's revenue growing?
CVR Energy (CVI) revenue declined by 17.7% year-over-year, from $9.2B to $7.6B in fiscal year 2024.
Is CVR Energy profitable?
Yes, CVR Energy (CVI) reported a net income of $7.0M in fiscal year 2024, with a net profit margin of 0.1%.
What is CVR Energy's earnings per share (EPS)?
CVR Energy (CVI) reported diluted earnings per share of $0.06 for fiscal year 2024. This represents a -99.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is CVR Energy's EBITDA?
CVR Energy (CVI) had EBITDA of $356.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does CVR Energy have?
As of fiscal year 2024, CVR Energy (CVI) had $987.0M in cash and equivalents against $1.9B in long-term debt.
What is CVR Energy's gross margin?
CVR Energy (CVI) had a gross margin of 2.7% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is CVR Energy's operating margin?
CVR Energy (CVI) had an operating margin of 0.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is CVR Energy's net profit margin?
CVR Energy (CVI) had a net profit margin of 0.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is CVR Energy's return on equity (ROE)?
CVR Energy (CVI) has a return on equity of 1.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is CVR Energy's free cash flow?
CVR Energy (CVI) generated $225.0M in free cash flow during fiscal year 2024. This represents a -69.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CVR Energy's operating cash flow?
CVR Energy (CVI) generated $404.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are CVR Energy's total assets?
CVR Energy (CVI) had $4.3B in total assets as of fiscal year 2024, including both current and long-term assets.
What are CVR Energy's capital expenditures?
CVR Energy (CVI) invested $179.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How many shares does CVR Energy have outstanding?
CVR Energy (CVI) had 101M shares outstanding as of fiscal year 2024.
What is CVR Energy's current ratio?
CVR Energy (CVI) had a current ratio of 1.66 as of fiscal year 2024, which is generally considered healthy.
What is CVR Energy's debt-to-equity ratio?
CVR Energy (CVI) had a debt-to-equity ratio of 2.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CVR Energy's return on assets (ROA)?
CVR Energy (CVI) had a return on assets of 0.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is CVR Energy's Altman Z-Score?
CVR Energy (CVI) has an Altman Z-Score of 2.16, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CVR Energy's Piotroski F-Score?
CVR Energy (CVI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CVR Energy's earnings high quality?
CVR Energy (CVI) has an earnings quality ratio of 57.71x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can CVR Energy cover its interest payments?
CVR Energy (CVI) has an interest coverage ratio of 0.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is CVR Energy?
CVR Energy (CVI) scores 13 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.