CF Industries

CF · Materials · Market cap $19.4B

Q4 FY25 Oct 1 – Dec 31, 2025 reported Feb 25, 2026

Revenue$1.9B +23% year over year

Gross profit$0.8B

Operating profit$0.6B

Net profit$0.5B 26% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.9	100%	+23%
Ammonia	0.7	37%	+24%
UAN	0.6	32%	+52%
Urea	0.4	21%	+7%
All Other Segments	0.1	5%	+12%
Ammonium Nitrate Segment	0.1	5%	−20%
Cost of revenue	−1.1	58%
Gross profit	0.8	41% margin	+6pp
SG&A	−0	5%	+0pp
Other	−0.1	3%	+0pp
Operating profit	0.6	33% margin	+4pp
Tax	−0.1
Net profit	0.5	26%	+1pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.7	100%	+21%
UAN	0.5	29%	+27%
Ammonia	0.5	29%	+29%
Urea	0.4	24%	+9%
All Other Segments	0.1	6%	+20%
Ammonium Nitrate Segment	0.1	6%	+15%
Cost of revenue	−1	59%
Gross profit	0.6	38% margin	+6pp
SG&A	−0.1	5%	+0pp
Operating profit	0.6	35% margin	+8pp
Tax	−0.1
Net profit	0.5	28%	+3pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.9	100%	+20%
UAN	0.6	32%	+28%
Urea	0.5	26%	+20%
Ammonia	0.5	26%	+20%
All Other Segments	0.1	5%	−6%
Ammonium Nitrate Segment	0.1	5%	+19%
Cost of revenue	−1.1	58%
Gross profit	0.8	40% margin	−3pp
SG&A	−0.1	5%	+1pp
Other	−0	0%	+0pp
Operating profit	0.6	34% margin	−6pp
Tax	−0.1
Net profit	0.5	26%	−6pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	1.7	100%	+13%
Ammonia	0.5	29%	+29%
UAN	0.5	29%	+11%
Urea	0.4	24%	+8%
All Other Segments	0.1	6%	+9%
Ammonium Nitrate Segment	0.1	6%	−11%
Cost of revenue	−1.1	65%
Gross profit	0.6	34% margin	+7pp
SG&A	−0.1	5%	−1pp
Other	−0	2%	+0pp
Operating profit	0.5	27% margin	+7pp
Tax	−0.1
Net profit	0.4	21%	+5pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 25, 2026	$1.9B	+23%	32%	$0.5B	26%
Q3 FY25	Sep 30, 2025	Nov 6, 2025	$1.7B	+21%	35%	$0.5B	28%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 7, 2025	$1.9B	+20%	32%	$0.5B	26%
Q1 FY25	Jan 1 – Mar 31, 2025	May 8, 2025	$1.7B	+13%	29%	$0.4B	21%