CF Industries Holdings, Inc（CF）の決算・業績分析
CF Industries Holdings, Incの2025年有価証券報告書をAI分析。売上高$7.1B(+19.3%)。営業利益$2.3B。Materials。
目次
CF Industries Holdings, Incの2025年度 業績サマリー
CF Industries Holdings, Inc（証券コード: CF）の2025年度決算・業績分析。売上高は$7.1B（前年比+19.3%）。営業利益は$2.3B（前年比+31.7%）。純利益は$1.8B（前年比+21.7%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
CF Industries Holdings, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue surged 71.1% YoY to $11.2B (XBRL), driven by strong demand for nitrogen-based products.
- Operating income jumped 212.1% YoY to $5.4B (XBRL), with operating margin expanding to 48.2%.
- Net income grew 212.5% YoY to $3.9B (XBRL), reflecting robust profitability and efficiency gains.
- Shareholder returns totaled $1.7B (XBRL), including $1.3B in share repurchases and $306M in dividends.
- Gross margin reached 52.4% (XBRL), highlighting strong cost control and pricing power.
CF Industries Holdings, Incの売上高変化の要因
- •FY2024 revenue of $11.2B (XBRL) reflects a +71.1% YoY increase, driven by strong demand for ammonia and ammonia-derived products in agriculture and clean energy applications (10-K). Historical data shows revenue growth from $4.4B (FY2020) to $11.2B (FY2024), though FY2025 revenue is projected at $6.6B (XBRL). Segment-specific revenue breakdowns are not available in the XBRL data.
CF Industries Holdings, Incの営業利益変化の要因
- •Gross profit of $5.9B (XBRL) and gross margin of 52.4% (XBRL) indicate strong cost control. Operating income of $5.4B (XBRL) and operating margin of 48.2% (XBRL) rose 212.1% YoY, attributed to improved production efficiency and favorable market conditions (10-K). Net income of $3.9B (XBRL) and net margin of 35.2% (XBRL) grew 212.5% YoY. Cost of sales changes are not quantified in the XBRL data.
CF Industries Holdings, Incの事業リスクと対応
Cyclical industry fluctuations impact profitability due to supply-demand imbalances (10-K).
Price volatility from global commodity markets and oversupply risks (10-K).
New production capacity increasing supply and depressing prices (10-K).
Intense competition from state-owned entities with subsidies (10-K).
Economic/political changes accelerating capacity expansions (10-K).
Historical 34% decline in average selling prices (2015-2017) due to oversupply (10-K).
CF Industries Holdings, Incの今後の見通し・業績予想
CF Industries Holdings, Incの事業内容
CF Industries produces nitrogen-based products (anhydrous ammonia, urea, UAN, DEF) via the Haber-Bosch process, serving agricultural and industrial customers globally. Operations span the U.S., Canada, UK, and Trinidad, supported by logistics networks for global distribution (10-K). Competitive advantages include the world’s largest ammonia production network, strategic ventures (e.g., with CHS), and a focus on decarbonization (10-K). No significant customer concentration is reported (10-K).
CF Industries Holdings, IncのAI業績分析レポート（2024年度）
CF Industries Holdings, Inc. (CF) FY2024 Annual Report Analysis
Highlights
Business Overview
CF Industries produces nitrogen-based products (anhydrous ammonia, urea, UAN, DEF) via the Haber-Bosch process, serving agricultural and industrial customers globally. Operations span the U.S., Canada, UK, and Trinidad, supported by logistics networks for global distribution (10-K). Competitive advantages include the world’s largest ammonia production network, strategic ventures (e.g., with CHS), and a focus on decarbonization (10-K). No significant customer concentration is reported (10-K).
Revenue Analysis
FY2024 revenue of $11.2B (XBRL) reflects a +71.1% YoY increase, driven by strong demand for ammonia and ammonia-derived products in agriculture and clean energy applications (10-K). Historical data shows revenue growth from $4.4B (FY2020) to $11.2B (FY2024), though FY2025 revenue is projected at $6.6B (XBRL). Segment-specific revenue breakdowns are not available in the XBRL data.
Profitability Analysis
Gross profit of $5.9B (XBRL) and gross margin of 52.4% (XBRL) indicate strong cost control. Operating income of $5.4B (XBRL) and operating margin of 48.2% (XBRL) rose 212.1% YoY, attributed to improved production efficiency and favorable market conditions (10-K). Net income of $3.9B (XBRL) and net margin of 35.2% (XBRL) grew 212.5% YoY. Cost of sales changes are not quantified in the XBRL data.
Balance Sheet Analysis
Equity ratio of 39.8% (XBRL) and current ratio of 3.81x (XBRL) suggest strong liquidity and leverage management. Long-term debt of $3.0B (XBRL) is offset by high ROE (68.9%) and ROA (27.4%) (XBRL). Total assets grew from $12.2B (FY2020) to $14.4B (FY2024) (XBRL), while total equity increased from $2.9B (FY2020) to $5.7B (FY2024) (XBRL).
Cash Flow Analysis
Operating cash flow of $3.9B (XBRL) exceeded net income of $3.9B (XBRL). Free cash flow (FCF) of $3.4B (XBRL) was generated after $453M in CapEx (XBRL). Investing activities totaled -$440M (XBRL), primarily from CapEx. Financing activities totaled -$2.7B (XBRL), including $306M in dividends and $1.3B in share repurchases (XBRL).
Working Capital Analysis
N/A. Receivables, inventory, and payables days are not quantified in the XBRL data or 10-K.
Risks
Outlook
Management emphasizes decarbonizing ammonia production and expanding low-carbon hydrogen applications as key trends (10-K). FY2025 revenue is projected at $6.6B (XBRL), though no specific financial guidance or operational trends are quantified in the XBRL data or 10-K.
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 4.4B | 4.6B | 4.1B | 6.5B | 11.2B | 6.6B |
| Operating Income | 766M | 1.0B | 623M | 1.7B | 5.4B | 2.2B |
| Net Income | 428M | 646M | 432M | 1.3B | 3.9B | 1.8B |
| Total Assets | 12.2B | 12.0B | 12.4B | 13.3B | 14.4B | 13.5B |
| Total Equity | 2.9B | 2.9B | 3.2B | 5.1B | 5.7B | 5.0B |
| Operating Cash Flow | 1.5B | 1.5B | 1.2B | 2.9B | 3.9B | 2.8B |
Materialsの企業一覧
CF Industries Holdings, Incと同じ「Materials」セクターの企業