Nutrien Ltd.

Basic Materials

NTRSolid9 of 11 basics passed

$67.50

-3.39%

Market cap $32.2B

$67.50

-3.39%

Market cap $32.2B

Created in 2018 as a result of the merger between PotashCorp and Agrium, Nutrien is the world's largest fertilizer producer by capacity.

It is a $32.2B materials company. Revenue grew 3.7% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~5.3 years of free cash flow. It trades at 14.0× earnings — around the middle of its own history.

Website: nutrien.com
Employees: 25 100
Sector: Basic Materials

Moved -3.5% on Oct 9, 20262.0σ — unusual for this stock

Share price · 3 years

$61.94 → $67.50+9.0%

price only — dividends excluded

Key facts · FY2025

Revenue: total sales; $25.9B
Profit: keeps 9¢ of every $1 sold; $2.27B
Free cash flow: cash left after running the business; $2.23B
Net debt: debt minus cash on hand; $11.8B
P/E: years of profit in the price; 14.0
EPS: earnings per share, FY2025; $4.66
Dividend: pays out 44% of profit · 46% of FCF; 3.18%
Shares: down 15% since 2021 — buybacks; 486.5M
Volatility: beta vs the market — under 1 swings less; 0.17

Revenue, last 5 years

52-week range

Low $53.64$67.50High $83.94

Today's price is 46% of the way from the year's low to its high.

P/E vs its history5y

14.2×median 16.1×

Higher than 34% of past days — around the middle of its own history.

Valuation vs own history

P/E

14.2×

67%

P/S

1.2×

38%

EV/EBITDA

12.7×

41%

P/B

1.2×

52%

FCF yield

6.9%

39%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Basic Materials

Size$32.2Btop 34%
Revenue growth-11%top 81%
Net margin8%top 63%
Return on equity9%top 68%
P/E14.0×top 40%
Dividend yield3.18%top 21%

Ranked against 51 Basic Materials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong valuation and quality; Growth and Profitability lag behind.

Valuation90

P/E vs own history34th pct · 20/25
FCF yield6.9% · 20/25
P/S1.2x · 25/25
EV/EBITDA7.2x · 25/25

Growth0

Revenue CAGR-0.9% · 0/25
Net income CAGR-7.9% · 0/25
EPS CAGR ~5Y-4.1% · 0/25
Fwd implied growth-8.3% · 0/25

Profitability42

ROIC6.0% · 5/25
ROE9.4% · 12/25
Net margin8.7% · 13/25
Operating margin13.7% · 12/25

Health59

Altman Z1.85 · 10/25
Current ratio1.39 · 12/25
Interest coverage11.3x · 25/25
Net cash / debtD/A 22% · 12/25

Quality92

Piotroski F8/9 · 25/25
Beneish M-2.61 · 25/25
FCF conversion99% · 22/25
Margin stabilityσ 5.8% · 20/25

Moat50

ROIC >12% years1/5 yrs · 0/25
Median gross margin32.2% · 13/25
FCF-positive years5/5 yrs · 25/25
Worst-year net marginworst 2.7% · 12/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2022Financial
Best year on record
$7.66B net income
FY2021Financial
Profitable every year on record
5 consecutive profitable years in our data
FY2021Financial
Revenue already above $10B
$26.9B in first reported year
FY2021Financial
Positive free cash flow every year since
5-year streak

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$11 058 today — price return only

$25.9B revenue in FY2025

Profitable 5 years in a row

Positive free cash flow 5 years in a row

25 100 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Interest covered 11.3× by operating earnings
Piotroski F-Score 8/9 — fundamentally strong checklist

Watch-outs

Net debt would take ~5.3 years of free cash flow to repay
Net debt equals ~5.3 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed

Revenue growing — the company sells more than a year ago+3.7% YoY
Profitable — makes more than it spends$2.27B FY2025
Profit growing — earnings are higher than last year-31.0% YoY
Generates cash — cash left after running and investing$2.23B FY2025
Debt under control — could handle its obligations~5.3y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$32.2B market cap
Not printing shares — share count not ballooning — you keep your slice-14.8% shares over ~5y
Proven track record — years of profitability behind it5/5 profitable years
Financially stable — balance sheet not near distressAltman Z 1.8 — grey
Pays a dividend — returns cash to shareholdersyield 3.18%
Valuation not extreme — price not wildly above earningsP/E 14.0

Peer comparisonNutrien Ltd. vs 6 largest basic materials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
NTR this company	$32.2B	14.0	+3.7%	8.7%	Solid
LIN Linde plc Ordinary Share	$223.2B	30.8	+6.6%	20.4%	Solid
SCCO Southern Copper Corporation	$176.8B	31.2	+32.8%	35.9%	Strong
NEM Newmont Corporation	$124.2B	14.4	+25.2%	33.4%	Strong
FCX Freeport-McMoran Inc.	$105.8B	35.9	+0.2%	11.4%	Strong
AEM Agnico Eagle Mines Ltd.	$95.8B	15.9	+43.7%	37.5%	Strong
B Barrick Mining Corporation	$67.5B	10.1	+9.2%	31.6%	Strong

Head-to-head: NTR vs LIN · NTR vs SCCO · NTR vs NEM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 5Buy 13Hold 6Sell 2

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $25.9B · net income $2.27B (FY2025)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (FY2025)

$25.9B

YoY 3.7%

Net income (FY2025)

$2.27B

Margin 8.7%

Gross margin

31.0%

Operating margin

13.7%

P/E ratio

14.0

Dividend yield

3.18%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	26.9	37.0	28.1	25.0	25.9
Gross profit	9.4	15.4	8.5	7.5	8.3
Operating income (EBIT)	4.8	9.8	3.6	2.6	3.5
Net income	3.2	7.7	1.3	0.7	2.3
EPS (diluted)	5.52	14.18	2.53	1.36	4.66

Cash flowFree cash flow $2.23B · operating cash flow $4.18B (FY2025)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (FY2025)

$2.23B

Margin 8.6%

Operating cash flow (FY2025)

$4.18B

FY basis

FCF margin

8.6%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	8.1	5.1	3.5	4.0	4.2
Capital expenditure	-2.3	-2.4	-2.0	-1.9	-2.0
Free cash flow	5.9	2.7	1.5	2.1	2.2
FCF margin	21.8%	7.2%	5.5%	8.6%	8.6%

Balance sheetAssets $53.6B · net debt $11.8B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $53.6B of assets is financed

52%

48%

Liabilities $27.6B — borrowed moneyEquity $25.9B — owners' stake

Cash vs debt

Total debt $12.7B − cash $921M = net debt $11.8B

Cash on hand covers 7% of debt.

Altman Z-Score

1.85

Grey zone

Debt repayment

5.3 yrs

Years of free cash flow to clear net debt

Interest coverage

11.3x

EBIT ÷ interest expense

ROE

9.4%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.9	0.9	0.9	0.7	0.9
Total assets	54.6	52.7	51.8	52.3	53.6
Total liabilities	28.7	27.5	27.4	26.9	27.6
Total debt	11.9	12.6	12.8	12.0	12.7
Equity	25.9	25.2	24.4	25.4	25.9
Net debt	11.0	11.6	12.0	11.3	11.8

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of NTR on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $67.50 · market cap $32.2B.