CVR Energy, Inc. (CVI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-52.7%

$26.86

vs $56.74 price

Levered DCF

$28.21

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.21

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	94.22×	268.87×	3.96×	6.81×	67.24×	-4.62×	8.47×	8.75×
P/B	3.5×	2.68×	3.6×	5.93×	3.05×	1.16×	2.31×	2.03×
P/S	0.36×	0.25×	0.33×	0.29×	0.23×	0.3×	0.51×	0.35×
EV / EBITDA	6.59×	7.19×	3.25×	3.62×	6.17×	-317.56×	4.29×	3.69×
Gross margin	4.4%	2.6%	13.7%	10.3%	2.9%	-5.1%	10.9%	9.1%
Operating margin	2.3%	0.8%	12.1%	8.8%	1.2%	-8.5%	9.1%	7.5%
Net margin	0.4%	0.1%	8.3%	4.2%	0.3%	-6.5%	6.0%	3.6%
Current ratio	1.79×	1.66×	1.3×	1.11×	1.18×	2.13×	2.14×	2.61×
Debt / equity	2.51×	2.75×	2.6×	3.02×	3.03×	1.67×	0.87×	0.94×
Interest coverage	1.59×	0.75×	21.6×	11.33×	0.74×	-2.56×	5.69×	5.22×
Dividend yield	0.0%	8.0%	14.9%	15.3%	14.3%	10.2%	9.5%	9.4%
Payout ratio	0.0%	2157.1%	58.9%	104.3%	964.0%	-47.3%	80.5%	91.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.7%	1.0%	90.8%	87.2%	4.5%	-25.1%	27.3%	20.8%
Return on invested capital	5.4%	1.8%	24.9%	28.7%	3.1%	-7.7%	12.8%	12.8%
Return on assets	0.7%	0.2%	16.3%	11.2%	0.6%	-6.4%	9.7%	6.6%
Free cash flow yield	-1.6%	9.1%	22.5%	22.0%	8.7%	-16.3%	18.3%	20.5%
Earnings yield	1.1%	0.4%	25.3%	14.7%	1.5%	-21.6%	11.8%	10.3%
Enterprise value	$3.9B	$2.8B	$4.7B	$4.2B	$2.9B	$2.2B	$3.8B	$3B
Net debt / EBITDA	2.24×	2.41×	1.13×	0.93×	2.52×	-148.29×	0.64×	0.61×
Cash conversion cycle (days)	15	12	15	17	19	18	8	12