Intrepid Potash (IPI)
Market Price (2/5/2026): $34.44 | Market Cap: $448.8 MilSector: Materials | Industry: Fertilizers & Agricultural Chemicals
Intrepid Potash (IPI)
Market Price (2/5/2026): $34.44Market Cap: $448.8 MilSector: MaterialsIndustry: Fertilizers & Agricultural Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16% | Weak multi-year price returns3Y Excs Rtn is -62% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 1,707x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.1%, Rev Chg QQuarterly Revenue Change % is -7.5% | |
| Attractive yieldFCF Yield is 6.2% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -48% | |
| Low stock price volatilityVol 12M is 49% | Key risksIPI key risks include [1] production vulnerability due to its complete reliance on weather-dependent solar solution mining, Show more. | |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, and Advanced Materials. Themes include Resource Efficiency Solutions, and Specialty Chemicals for Performance. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -16% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive yieldFCF Yield is 6.2% |
| Low stock price volatilityVol 12M is 49% |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, and Advanced Materials. Themes include Resource Efficiency Solutions, and Specialty Chemicals for Performance. |
| Weak multi-year price returns3Y Excs Rtn is -62% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 1,707x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.1%, Rev Chg QQuarterly Revenue Change % is -7.5% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -48% |
| Key risksIPI key risks include [1] production vulnerability due to its complete reliance on weather-dependent solar solution mining, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Favorable Potash Market Outlook and Strong Global Demand: The global potash market is expected to exhibit strong demand and stable prices in 2026, a positive trend compared to nitrogen and phosphorus. This demand is driven by major agricultural exporting countries like Brazil and India. Potash remains an affordable fertilizer nutrient relative to crop prices, incentivizing farmers to invest in maximizing yields.
2. Progress in Utah Lithium Project: Intrepid Potash, in collaboration with Aquatech International and Adionics, announced advancements in their partnership to develop a lithium project in Utah on January 5, 2026. This initiative aims to support the national critical minerals supply, indicating a strategic diversification and potential new revenue stream for the company.
Show more
Stock Movement Drivers
Fundamental Drivers
The 29.4% change in IPI stock from 10/31/2025 to 2/4/2026 was primarily driven by a 31.9% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2042026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.63 | 34.46 | 29.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 283 | 278 | -1.5% |
| P/S Multiple | 1.2 | 1.6 | 31.9% |
| Shares Outstanding (Mil) | 13 | 13 | -0.4% |
| Cumulative Contribution | 29.4% |
Market Drivers
10/31/2025 to 2/4/2026| Return | Correlation | |
|---|---|---|
| IPI | 29.4% | |
| Market (SPY) | 0.6% | 33.1% |
| Sector (XLB) | 21.1% | 57.2% |
Fundamental Drivers
The 3.5% change in IPI stock from 7/31/2025 to 2/4/2026 was primarily driven by a 2.5% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2042026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.28 | 34.46 | 3.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 273 | 278 | 1.9% |
| P/S Multiple | 1.6 | 1.6 | 2.5% |
| Shares Outstanding (Mil) | 13 | 13 | -0.9% |
| Cumulative Contribution | 3.5% |
Market Drivers
7/31/2025 to 2/4/2026| Return | Correlation | |
|---|---|---|
| IPI | 3.5% | |
| Market (SPY) | 8.9% | 25.8% |
| Sector (XLB) | 18.9% | 44.2% |
Fundamental Drivers
The 31.1% change in IPI stock from 1/31/2025 to 2/4/2026 was primarily driven by a 21.5% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2042026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.29 | 34.46 | 31.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 256 | 278 | 8.9% |
| P/S Multiple | 1.3 | 1.6 | 21.5% |
| Shares Outstanding (Mil) | 13 | 13 | -0.9% |
| Cumulative Contribution | 31.1% |
Market Drivers
1/31/2025 to 2/4/2026| Return | Correlation | |
|---|---|---|
| IPI | 31.1% | |
| Market (SPY) | 15.0% | 32.4% |
| Sector (XLB) | 18.6% | 45.1% |
Fundamental Drivers
The 5.3% change in IPI stock from 1/31/2023 to 2/4/2026 was primarily driven by a 27.5% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2042026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.73 | 34.46 | 5.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 343 | 278 | -18.8% |
| P/S Multiple | 1.3 | 1.6 | 27.5% |
| Shares Outstanding (Mil) | 13 | 13 | 1.7% |
| Cumulative Contribution | 5.3% |
Market Drivers
1/31/2023 to 2/4/2026| Return | Correlation | |
|---|---|---|
| IPI | 5.3% | |
| Market (SPY) | 75.1% | 31.3% |
| Sector (XLB) | 29.3% | 48.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IPI Return | 77% | -32% | -17% | -8% | 27% | 25% | 44% |
| Peers Return | 52% | 13% | -19% | -2% | 19% | 20% | 94% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 84% |
Monthly Win Rates [3] | |||||||
| IPI Win Rate | 50% | 42% | 42% | 42% | 50% | 100% | |
| Peers Win Rate | 67% | 55% | 40% | 47% | 53% | 90% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IPI Max Drawdown | -8% | -34% | -39% | -25% | -1% | -0% | |
| Peers Max Drawdown | -4% | -12% | -33% | -27% | -18% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NTR, MOS, CMP, CF, WTTR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/4/2026 (YTD)
How Low Can It Go
| Event | IPI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -85.3% | -25.4% |
| % Gain to Breakeven | 579.7% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -74.3% | -33.9% |
| % Gain to Breakeven | 288.8% | 51.3% |
| Time to Breakeven | 284 days | 148 days |
| 2018 Correction | ||
| % Loss | -57.6% | -19.8% |
| % Gain to Breakeven | 136.0% | 24.7% |
| Time to Breakeven | 710 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -80.4% | -56.8% |
| % Gain to Breakeven | 410.7% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to NTR, MOS, CMP, CF, WTTR
In The Past
Intrepid Potash's stock fell -85.3% during the 2022 Inflation Shock from a high on 4/18/2022. A -85.3% loss requires a 579.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Intrepid Potash (IPI)
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Intrepid Potash (IPI):
- Intrepid Potash is like the ExxonMobil or Chevron of agricultural minerals.
- Think of Intrepid Potash as the Cemex of fertilizer.
- It's similar to the Alcoa of potash, mining and processing a key mineral commodity.
AI Analysis | Feedback
- Muriate of Potash (MOP): A primary potassium-based fertilizer essential for enhancing crop growth and yield.
- Specialty Potash (Langbeinite): A multi-nutrient fertilizer providing potassium, magnesium, and sulfur, beneficial for crops sensitive to chloride.
- Salt: Various grades of salt used in industrial, animal feed, and consumer applications.
AI Analysis | Feedback
Intrepid Potash (IPI) sells primarily to other companies (B2B) rather than directly to individuals. The company has a diversified customer base, and according to its latest Form 10-K filing, no single customer accounted for 10% or more of its total revenue for the years ended December 31, 2023, 2022, or 2021. As such, specific named major customers are not publicly disclosed.
Intrepid Potash primarily serves the following categories of customer companies:
- Agricultural retailers: These companies purchase potash products from Intrepid Potash and then resell them to growers and other end-users for fertilizer applications. Examples of such companies might include large farm supply cooperatives or chains, though specific names of Intrepid's customers are not disclosed.
- Agricultural wholesalers: Similar to retailers, these companies distribute potash products to a network of businesses in the agricultural sector, often supplying retailers or large farm operations.
- Industrial customers: These companies purchase Intrepid Potash's potash and salt products for various industrial applications, which can include uses in the oil and gas industry (e.g., drilling fluids), animal feed supplements, de-icing agents, and other chemical manufacturing processes.
AI Analysis | Feedback
nullAI Analysis | Feedback
Kevin S. Crutchfield Chief Executive Officer
Mr. Crutchfield was appointed Chief Executive Officer and Director of Intrepid Potash in December 2024. He brings over three decades of global mining experience and more than twenty years of leadership, operating, and technical experience in public company and board of director roles. Prior to joining Intrepid Potash, Mr. Crutchfield served as President and CEO of Compass Minerals. He also previously served as CEO of Alpha Natural Resources and later Contura Energy (which was renamed Alpha Metallurgical Resources), where he led growth initiatives and strategic acquisitions. His career also includes various operating and executive management positions at Pittston Coal Company, Cyprus Amax Minerals Company, and El Paso Corporation.
Matthew D. Preston Chief Financial Officer
Mr. Preston has served as Intrepid Potash's Chief Financial Officer since December 2021. He was previously the Vice President of Finance from November 2019 to December 2021 and Director of Budget and Forecast from April 2016 to November 2019. Mr. Preston joined Intrepid in 2008 and has held successively more senior finance roles, including Senior Manager of Budget and Forecast, Manager of Budget and Forecast, and Financial Analyst.
Barth E. Whitham Chairman of the Board
Mr. Whitham has been the Chairman of the Board for Intrepid Potash since 2024. Before this role, he served as the Chief Executive Officer, President, and a Director of Enduring Resources, LLC, which is a private company with exploration and production operations. He also held positions as President, Chief Operating Officer, and a Director of Westport Resources Corporation.
Cris Ingold Chief Accounting Officer
Mr. Ingold serves as the Chief Accounting Officer of Intrepid Potash. He has been the company's Corporate Controller since November 2019. Mr. Ingold joined Intrepid in 2011 and has progressed through various senior accounting roles. Prior to joining Intrepid, he worked in a variety of accounting roles at other public companies and also served clients in public and private audit capacities at Deloitte & Touche LLP.
Christina C. Sheehan General Counsel & Corporate Secretary
Ms. Sheehan has served as Interim General Counsel since May 2022 and Deputy General Counsel since December 2021 for Intrepid Potash. Before joining Intrepid, she was a partner at the private practice law firm Modrall, Sperling, Roehl, Harris & Sisk, P.A., where she specialized in environmental and regulatory law.
AI Analysis | Feedback
The key risks to Intrepid Potash's business operations are:1. Commodity Price and Demand Volatility / Global Potash Oversupply
Intrepid Potash's financial results are significantly impacted by the volatile prices and demand for potash and Trio, its primary products. The market for these commodities is cyclical, experiencing significant fluctuations due to periodic imbalances in supply and demand. Unlike many other commodities, potash and Trio lack active hedge markets, leaving Intrepid Potash exposed to this price and demand volatility, which can reduce profit margins. Furthermore, there is a forecasted global capacity surge in potash, which is expected to cap pricing power and compress margins, even for a domestic producer like Intrepid Potash. Historically, global potash oversupply has led to margin compression, failures in price discipline, and multi-year underperformance for producers.2. Weather Conditions Affecting Solar Solution Mining Operations
All of Intrepid Potash's potash production relies on solar solution mines, which utilize solar evaporation ponds to form potash crystals from brines. Consequently, weather conditions, such as heavy precipitation or low evaporation rates, can directly impact potash production at these facilities, negatively affecting sales and results of operations.3. Decline in Oil and Gas Drilling Activity
A portion of Intrepid Potash's revenue is derived from the sale of water, brines, and potassium chloride, which are used in oil and gas development. The company also generates revenue from caliche sales and various surface use agreements with operators. Therefore, a decline in oil and gas drilling, particularly in the Permian Basin, could lead to reduced sales of these products and a decrease in overall revenue from its oilfield-related offerings.AI Analysis | Feedback
- The imminent launch of major new potash production facilities, particularly BHP's Jansen project, is set to significantly increase global potash supply in the mid-2020s. This additional supply could exert downward pressure on potash prices and reduce market share for existing producers like Intrepid Potash.
- The growing adoption of precision agriculture technologies and the development of new biological products (e.g., bio-stimulants, bio-fertilizers) aim to optimize nutrient use efficiency and potentially reduce the overall demand for traditional synthetic fertilizers, including potash. This trend could lead to reduced sales volumes for companies like IPI over time.
AI Analysis | Feedback
Intrepid Potash, Inc. (IPI) primarily operates in the North American market, focusing on potash, Trio (sulfate of potash magnesia), and water for oilfield solutions. The addressable markets for these main products are sized as follows:
- Potash: The United States potash market is anticipated to reach approximately USD 10,340.9 million by 2035, growing at a compound annual growth rate (CAGR) of 5.66% from 2025 to 2035. In 2024, the market was estimated at USD 5,640.9 million. The agriculture segment held the highest revenue share in this market in 2024. The broader North American potash market is projected to reach USD 11.0 billion by 2030.
- Trio (Sulfate of Potash Magnesia - SOPM): The USA and Canada potassium sulfate market, which includes products like Trio (langbeinite), is estimated to be valued at approximately USD 462.7 million in 2025. It is expected to surpass USD 610.2 million by 2035, with sales across the USA and Canada anticipated to rise at a CAGR of 2.8% during this forecast period. This market specifically caters to demand from chloride-sensitive crops such as tree nuts, fruits, and vegetables.
- Water for Oilfield Solutions: The United States oil and gas water management services market was valued at USD 8.8 billion in 2024 and is projected to decline to USD 7.2 billion in 2025. The U.S. midstream water market for oil and gas is projected to total US$156 billion between 2025 and 2030, averaging over US$26 billion per year, with a 2.1% compound annual growth rate.
AI Analysis | Feedback
Intrepid Potash (IPI) is expected to drive future revenue growth over the next 2-3 years through several key factors:
-
Increased Potash Production Volumes: Intrepid Potash has strategically prioritized and invested in revitalizing its potash assets, leading to projections of significantly higher potash production in 2025 and 2026. For example, potash production in 2024 increased by approximately 32% compared to 2023, with further increases anticipated. The company expects potash production to reach 300,000-310,000 tons in 2026.
-
Growth in Trio Sales Volumes: The Trio segment has demonstrated strong performance with increased sales volumes, which are expected to continue growing in the coming years. The company anticipates quarterly Trio production to be in the range of 70,000 to 75,000 tons for 2026, supported by operational efficiencies and demand.
-
Favorable Pricing for Potash and Trio: Intrepid Potash has realized higher average net realized sales prices for both its potash and Trio products. This trend is expected to continue, driven by supportive potash market fundamentals and strong demand in agricultural markets. For instance, the average net realized sales price for potash in Q3 2025 totaled $381 per ton, capturing a significant increase in agricultural market prices.
-
Steady Demand in the U.S. Agriculture Sector: Management maintains an optimistic outlook regarding the fundamentals of the potash market and consistent demand within the U.S. agriculture sector. This sustained demand for fertilizers is a crucial underlying driver for both potash and Trio product sales.
AI Analysis | Feedback
Share Repurchases
- Intrepid Potash announced a share repurchase program of up to $35 million on March 7, 2022, aimed at returning value to shareholders.
- The company's capital allocation priorities include opportunistic share repurchases.
Share Issuance
- Intrepid Potash's shares outstanding have shown a slight increase, with a year-over-year change of +0.84% as of a recent report, indicating minor issuances or grants.
Capital Expenditures
- Capital expenditures in 2024 were approximately $38.9 million.
- For 2025, Intrepid Potash initially anticipated capital expenditures between $36 million and $42 million, primarily directed to sustaining capital and ensuring higher potash production.
- The company later adjusted its 2025 capital expenditure guidance to $32 million to $37 million, partly due to deferring spending on the HB AMAX well extraction well and pipeline as options are evaluated following an unsuccessful outcome with the AMAX Cavern sample well project.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Intrepid Potash Earnings Notes | 12/16/2025 | |
| Is Intrepid Potash Stock Built to Withstand a Pullback? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 31.64 |
| Mkt Cap | 5.2 |
| Rev LTM | 4,073 |
| Op Inc LTM | 551 |
| FCF LTM | 78 |
| FCF 3Y Avg | 282 |
| CFO LTM | 659 |
| CFO 3Y Avg | 1,041 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.4% |
| Rev Chg 3Y Avg | -8.3% |
| Rev Chg Q | 10.6% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 7.5% |
| Op Mgn 3Y Avg | 7.8% |
| QoQ Delta Op Mgn LTM | 1.7% |
| CFO/Rev LTM | 15.7% |
| CFO/Rev 3Y Avg | 16.4% |
| FCF/Rev LTM | 9.0% |
| FCF/Rev 3Y Avg | 3.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.2 |
| P/S | 1.1 |
| P/EBIT | 16.7 |
| P/E | 9.2 |
| P/CFO | 7.0 |
| Total Yield | 6.3% |
| Dividend Yield | 2.4% |
| FCF Yield 3Y Avg | 5.0% |
| D/E | 0.3 |
| Net D/E | 0.3 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 16.9% |
| 3M Rtn | 21.8% |
| 6M Rtn | 18.2% |
| 12M Rtn | 17.0% |
| 3Y Rtn | 1.1% |
| 1M Excs Rtn | 17.2% |
| 3M Excs Rtn | 21.5% |
| 6M Excs Rtn | 4.0% |
| 12M Excs Rtn | 5.0% |
| 3Y Excs Rtn | -65.7% |
Price Behavior
| Market Price | $34.46 | |
| Market Cap ($ Bil) | 0.4 | |
| First Trading Date | 04/22/2008 | |
| Distance from 52W High | -11.5% | |
| 50 Days | 200 Days | |
| DMA Price | $29.09 | $31.10 |
| DMA Trend | up | up |
| Distance from DMA | 18.5% | 10.8% |
| 3M | 1YR | |
| Volatility | 48.5% | 49.6% |
| Downside Capture | 89.73 | 68.18 |
| Upside Capture | 245.20 | 84.17 |
| Correlation (SPY) | 31.6% | 32.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.77 | 1.46 | 1.61 | 1.15 | 0.85 | 1.02 |
| Up Beta | 1.16 | 1.16 | 0.55 | 0.50 | 0.80 | 0.69 |
| Down Beta | 1.99 | 0.94 | 1.65 | 1.42 | 1.00 | 1.05 |
| Up Capture | 350% | 338% | 284% | 106% | 78% | 126% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 21 | 30 | 59 | 118 | 368 |
| Down Capture | 1% | 59% | 134% | 135% | 84% | 107% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 20 | 30 | 64 | 130 | 379 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPI | |
|---|---|---|---|---|
| IPI | 30.5% | 49.6% | 0.70 | - |
| Sector ETF (XLB) | 18.6% | 20.5% | 0.72 | 45.1% |
| Equity (SPY) | 15.9% | 19.2% | 0.64 | 32.5% |
| Gold (GLD) | 76.1% | 24.5% | 2.27 | 22.5% |
| Commodities (DBC) | 9.3% | 16.5% | 0.36 | 38.2% |
| Real Estate (VNQ) | 4.6% | 16.5% | 0.10 | 28.4% |
| Bitcoin (BTCUSD) | -24.7% | 40.5% | -0.60 | 20.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPI | |
|---|---|---|---|---|
| IPI | 7.9% | 61.4% | 0.38 | - |
| Sector ETF (XLB) | 9.6% | 18.9% | 0.40 | 45.9% |
| Equity (SPY) | 14.2% | 17.0% | 0.66 | 34.2% |
| Gold (GLD) | 21.5% | 16.8% | 1.04 | 16.7% |
| Commodities (DBC) | 12.1% | 18.9% | 0.52 | 33.9% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 31.7% |
| Bitcoin (BTCUSD) | 18.0% | 57.4% | 0.52 | 13.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IPI | |
|---|---|---|---|---|
| IPI | 6.1% | 77.7% | 0.44 | - |
| Sector ETF (XLB) | 12.9% | 20.7% | 0.56 | 42.3% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 33.0% |
| Gold (GLD) | 15.6% | 15.5% | 0.84 | 6.8% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 31.0% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 27.4% |
| Bitcoin (BTCUSD) | 69.3% | 66.5% | 1.09 | 9.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | -8.6% | 1.4% | 0.0% |
| 8/6/2025 | -5.3% | -6.5% | -8.4% |
| 3/3/2025 | -2.0% | 4.5% | 20.0% |
| 11/4/2024 | 7.7% | 3.8% | 1.3% |
| 7/10/2024 | 8.7% | 12.4% | -5.0% |
| 3/6/2024 | 5.8% | -10.1% | 0.3% |
| 11/8/2023 | -6.2% | 3.1% | -1.6% |
| 8/2/2023 | -6.7% | 3.4% | 0.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 11 | 9 |
| # Negative | 11 | 7 | 9 |
| Median Positive | 7.7% | 3.8% | 3.1% |
| Median Negative | -6.7% | -12.4% | -8.4% |
| Max Positive | 9.5% | 16.1% | 23.4% |
| Max Negative | -20.5% | -28.5% | -53.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/04/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/07/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 03/08/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Jornayvaz, Robert P Iii | Direct | Sell | 7252025 | 34.30 | 53,035 | 1,819,100 | 135,485 | Form | |
| 2 | Jornayvaz, Robert P Iii | Intrepid Production Corporation | Sell | 5292025 | 37.05 | 76 | 2,816 | 37,783,738 | Form | |
| 3 | Jornayvaz, Robert P Iii | Intrepid Production Corporation | Sell | 5232025 | 37.00 | 7 | 259 | 37,735,560 | Form | |
| 4 | Jornayvaz, Robert P Iii | Intrepid Production Corporation | Sell | 5222025 | 37.05 | 1,288 | 47,720 | 37,786,813 | Form | |
| 5 | Jornayvaz, Robert P Iii | Intrepid Production Corporation | Sell | 5202025 | 37.06 | 22,987 | 851,898 | 37,844,746 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.