Tearsheet

Nutrien (NTR)

Market Price (12/28/2025): $62.77 | Market Cap: $30.5 Bil
Sector: Materials | Industry: Fertilizers & Agricultural Chemicals

Nutrien (NTR)

Market Price (12/28/2025): $62.77
Market Cap: $30.5 Bil
Sector: Materials
Industry: Fertilizers & Agricultural Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.4%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3%, FCF Yield is 7.0%	Trading close to highs Dist 52W High is -1.3%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 4.2 Bil, FCF LTM is 2.1 Bil	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -84%	Key risks NTR key risks include [1] potential financial distress indicated by its Altman Z-Score and considerable debt levels, Show more.
2	Low stock price volatility Vol 12M is 28%
3	Megatrend and thematic drivers Megatrends include Sustainable Resource Management, Hydrogen Economy, and Energy Transition & Decarbonization. Themes include Resource Efficiency Solutions, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.4%, Dividend Yield is 3.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3%, FCF Yield is 7.0%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 4.2 Bil, FCF LTM is 2.1 Bil
2	Low stock price volatility Vol 12M is 28%
3	Megatrend and thematic drivers Megatrends include Sustainable Resource Management, Hydrogen Economy, and Energy Transition & Decarbonization. Themes include Resource Efficiency Solutions, Show more.
4	Trading close to highs Dist 52W High is -1.3%
5	Weak multi-year price returns 2Y Excs Rtn is -24%, 3Y Excs Rtn is -84%
6	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11%
7	Key risks NTR key risks include [1] potential financial distress indicated by its Altman Z-Score and considerable debt levels, Show more.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022	2021
Share Price CYE	$62.77	$43.44	$51.79	$64.90	$65.34
Market Cap CYE ($ Bil)	30.5	21.4	25.6	33.5	37.1
Total Debt ($ Bil)	14.2	12.8	12.6	11.9	10.8
Total Cash ($ Bil)	0.6	0.9	0.9	0.9	0.5
Enterprise Value ($ Bil)	44.0	34.2	38.2	45.4	47.9
Valuation Ratios
P/S TTM	1.1	0.9	1.0	1.0	1.5
P/EBIT TTM	9.4	11.8	10.3	3.7	9.3
P/E TTM	16.8	32.8	22.2	5.1	13.6
P/FCF TTM	14.3	16.0	11.3	7.0	21.4
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4	1.2	1.5
P/EBIT TTM (Sector)	8.1	6.8	6.6	5.1	5.8
P/E TTM (Sector)	-0.2	6.1	7.1	4.8	6.8
P/FCF TTM (Sector)	6.9	5.8	5.0	2.7	5.7

	12/28/25	2024	2023
Share Price CYE	$62.77	$43.44	$51.79
Market Cap CYE ($ Bil)	30.5	21.4	25.6
Total Debt ($ Bil)	14.2	12.8	12.6
Total Cash ($ Bil)	0.6	0.9	0.9
Enterprise Value ($ Bil)	44.0	34.2	38.2
Valuation Ratios
P/S TTM	1.1	0.9	1.0
P/EBIT TTM	9.4	11.8	10.3
P/E TTM	16.8	32.8	22.2
P/FCF TTM	14.3	16.0	11.3
Sector Ratios
P/S TTM (Sector)	1.5	1.3	1.4
P/EBIT TTM (Sector)	8.1	6.8	6.6
P/E TTM (Sector)	-0.2	6.1	7.1
P/FCF TTM (Sector)	6.9	5.8	5.0

	NTR	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	26.6
Rev Chg Q	12.3%	7.3%
Rev Chg LTM	0.3%	6.1%
Rev Chg 3Y Avg	-10.6%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	3.6
CFO LTM ($ Bil)	4.2
Net Inc LTM ($ Bil)	1.8
Op Mgn LTM	13.4%	18.8%
CFO/Rev LTM	15.6%	20.4%
Net Inc Mgn	6.8%	13.1%
VALUATION	LOW
P/S	1.1	3.3
P/CFO	7.3	15.8
P/FCF	14.3	20.7
P/E	16.8	23.7
STABILITY	FAIR
Debt/Equity	0.47	0.21
Cash/Assets	0.01	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Sustainable agriculture program acres	3.7 million acres	12312024	Link
GHG emissions intensity (Scope 1 and 2) reduction per tonne of product produced	15% reduction compared to 2018 baseline	12312024	Link
Nitrogen GHG emissions intensity (Scope 1 and 2) reduction per tonne of ammonia produced	9% reduction compared to 2018 baseline	12312024	Link
Local Potash supplier spend with direct Indigenous economic impact	1.1 billion CAD (between 2020-2024)	12312024	Link
Freshwater use reduction at higher-risk and higher-use manufacturing facilities	3 million m³ reduction compared to 2018 baseline	12312024	Link
Community Investment	28 million USD	12312024	Link
Potash Sales Volumes	4,059 KTon	9302025	Link
Nitrogen Sales Volumes	2,827 KTon	9302025	Link
Phosphate Sales Volumes	666 KTon	9302025	Link
Total Recordable Injury Frequency (TRIF)	Achieved best record since company formation	12312023	Link
Lost Time Injury Frequency (LTIF)	Maintained best record since company formation	12312023	Link

Upcoming
12/31/2025	Dividend	Amount: $0.55 Payment On: 1/16/2026
2/18/2026	Earnings Release	Rev: - EPS: -

NTR Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Here are the key points explaining Nutrien's (NTR) stock movement from approximately August 31, 2025, to December 27, 2025:

1. Strong Third Quarter 2025 Financial Performance: Nutrien reported robust Q3 2025 results on November 5, 2025, exceeding Wall Street's expectations for both earnings per share (EPS) and revenue. Net earnings were $0.5 billion ($0.96 diluted net earnings per share), and adjusted EBITDA was $1.4 billion, with adjusted net earnings per share of $0.97 against a forecast of $0.94. Revenue reached $6.01 billion, surpassing the anticipated $5.77 billion. This strong performance, driven by record upstream fertilizer sales volumes, improved operational reliability, and higher Retail earnings, led to a 3.39% rise in Nutrien's stock immediately following the announcement.

2. Strategic Review of Phosphate Business: On November 5, 2025, Nutrien announced it was initiating a review of strategic alternatives for its Phosphate business. This move is aimed at enhancing long-term value and could involve reconfiguring operations, strategic partnerships, or a potential sale of the business, indicating a focus on portfolio simplification and core assets.

3. Controlled Shutdown of Trinidad Nitrogen Operations: Nutrien completed a controlled shutdown of its Trinidad Nitrogen facility on October 23, 2025. This decision was made due to uncertainties regarding port access and a lack of reliable and economic gas supply, which had reduced the free cash flow contribution of the Trinidad operations over an extended period.

4. Sale of Profertil S.A. Equity Position: Nutrien announced an agreement for the sale of its equity position in Profertil S.A. on September 8, 2025, with the sale completed by December 10, 2025. The company intends to utilize the proceeds from this divestiture for growth investments, share repurchases, and debt reduction, further aligning with its strategic focus on core assets.

5. Favorable Potash Market Outlook and Strong Demand: Throughout the period, the outlook for the potash market remained positive, with Nutrien forecasting continued growth in global potash demand in 2026. This is supported by expectations for healthy crop input demand, intensified nutrient depletion from strong 2025 crop production, and reduced capacity from major producing countries. Potash prices also saw significant increases year-over-year, contributing to Nutrien's strong performance in its potash segment.

Stock Movement Drivers

Fundamental Drivers

The 7.7% change in NTR stock from 9/27/2025 to 12/27/2025 was primarily driven by a 29.4% change in the company's Net Income Margin (%).

	9272025	12272025	Change
Stock Price ($)	58.27	62.77	7.71%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	25965.00	26624.00	2.54%
Net Income Margin (%)	5.25%	6.79%	29.44%
P/E Multiple	20.84	16.85	-19.14%
Shares Outstanding (Mil)	487.40	485.58	0.37%
Cumulative Contribution			7.71%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
NTR	7.7%
Market (SPY)	4.3%	26.3%
Sector (XLB)	3.8%	51.2%

Fundamental Drivers

The 10.0% change in NTR stock from 6/28/2025 to 12/27/2025 was primarily driven by a 231.1% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	57.04	62.77	10.04%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	25683.00	26624.00	3.66%
Net Income Margin (%)	2.05%	6.79%	231.13%
P/E Multiple	52.97	16.85	-68.19%
Shares Outstanding (Mil)	489.40	485.58	0.78%
Cumulative Contribution			10.04%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
NTR	10.0%
Market (SPY)	12.6%	20.7%
Sector (XLB)	5.4%	38.7%

Fundamental Drivers

The 47.7% change in NTR stock from 12/27/2024 to 12/27/2025 was primarily driven by a 146.2% change in the company's Net Income Margin (%).

	12272024	12272025	Change
Stock Price ($)	42.49	62.77	47.73%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	26557.00	26624.00	0.25%
Net Income Margin (%)	2.76%	6.79%	146.17%
P/E Multiple	28.68	16.85	-41.25%
Shares Outstanding (Mil)	494.74	485.58	1.85%
Cumulative Contribution			47.68%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
NTR	47.7%
Market (SPY)	17.0%	26.1%
Sector (XLB)	10.2%	39.0%

Fundamental Drivers

The -2.8% change in NTR stock from 12/28/2022 to 12/27/2025 was primarily driven by a -67.0% change in the company's Net Income Margin (%).

	12282022	12272025	Change
Stock Price ($)	64.56	62.77	-2.77%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	37618.00	26624.00	-29.23%
Net Income Margin (%)	20.60%	6.79%	-67.02%
P/E Multiple	4.46	16.85	278.13%
Shares Outstanding (Mil)	534.84	485.58	9.21%
Cumulative Contribution			-3.60%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
NTR	20.7%
Market (SPY)	48.0%	26.3%
Sector (XLB)	10.9%	43.9%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
NTR Return	6%	62%	-1%	-20%	-16%	46%	66%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
NTR Win Rate	50%	75%	42%	33%	42%	67%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
NTR Max Drawdown	-48%	0%	-9%	-27%	-18%	0%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[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] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	NTR	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-54.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	117.3%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	92.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	252 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-24.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	32.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	812 days	120 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Nutrien's stock fell -54.0% during the 2022 Inflation Shock from a high on 4/18/2022. A -54.0% loss requires a 117.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Nutrien (NTR)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Nutrien Ltd. provides crop inputs and services. It offers potash, nitrogen, phosphate, and sulfate products; and financial solutions. The company also distributes crop nutrients, crop protection products, seeds, and merchandise products through approximately 2,000 retail locations in the United States, Canada, South America, and Australia. In addition, it provides services directly to growers through a network of farm centers in North America, South America, and Australia. The company was founded in 2017 and is headquartered in Saskatoon, Canada.

AI Analysis | Feedback

Here are two brief analogies to describe Nutrien:

The Shell for food production. (Nutrien extracts and processes essential raw materials for agriculture, much like Shell extracts and refines oil, and then distributes them through a vast network to end-users.)
The Intel Inside for agriculture. (Nutrien provides the critical, fundamental nutrients that are essential for plant growth and modern farming, similar to how Intel provides the core processors that power computers.)

AI Analysis | Feedback

Nutrien (NTR) major products are:

Potash: A key crop nutrient used to enhance plant health, yield, and crop quality.
Nitrogen Fertilizers: Essential plant nutrients provided in various forms like urea, ammonia, and UAN solutions.
Phosphate Fertilizers: Vital nutrients for root development and plant energy, commonly sold as DAP and MAP.
Retail Agricultural Products and Services: Provides crop nutrients, crop protection products, seeds, and agronomic services directly to farmers.

AI Analysis | Feedback

Nutrien (NTR) serves a diverse customer base, with its extensive retail network primarily selling directly to farmers and agricultural producers. While Nutrien also has wholesale customers for its fertilizer products (potash, nitrogen, and phosphate), the company's significant retail presence means a substantial portion of its direct customers are individual farmers or family-owned farm businesses. Therefore, the major customer categories are:

Large-scale Commercial Farmers

These customers operate extensive acreage, often across multiple locations, and are highly focused on maximizing yield and efficiency through advanced agricultural practices, precision agriculture technologies, and large volume purchases of fertilizers, crop protection products, and seeds. They represent a significant portion of Nutrien's retail sales volume and often seek integrated solutions and financing options.
Mid-sized Family Farmers

Comprising a vast segment of the agricultural industry, these are often multi-generational operations that form the backbone of rural economies. They require a reliable supply of essential crop inputs, practical agronomic advice, and services tailored to their specific crop rotations and regional conditions. They balance operational efficiency with sustainability and long-term farm viability.
Specialty Crop and Livestock Producers

While Nutrien's primary focus is broadacre crops (e.g., corn, soybeans, wheat), its retail network also serves producers involved in specialty crops (e.g., fruits, vegetables, nuts, nursery stock) and those with integrated livestock operations. These customers often have unique input and service requirements due to their specific production systems, and they rely on Nutrien for specialized products and expertise.

AI Analysis | Feedback

Bayer AG (BAYRY)
Corteva Agriscience (CTVA)
BASF SE (BASFY)
FMC Corporation (FMC)
Canadian National Railway Company (CNI)
Canadian Pacific Kansas City Limited (CP)
Union Pacific Corporation (UNP)

AI Analysis | Feedback

Ken Seitz, President and Chief Executive Officer

Ken Seitz was appointed President and Chief Executive Officer of Nutrien in January 2022. He brings over 25 years of global management experience in the agriculture and mining sectors, having worked in more than 60 countries. Prior to becoming CEO, Mr. Seitz served as Nutrien's Executive Vice President and CEO of Potash, a role he took in October 2019. Before joining Nutrien, he was the President and CEO of Canpotex, one of the world's largest potash suppliers, a position he held from 2015. Earlier in his career, he spent 18 years at Cameco Corporation, a uranium mining company, where he held various senior management roles, including Senior VP and Chief Commercial Officer.

Mark Thompson, Executive Vice President and Chief Financial Officer

Mark Thompson was appointed Executive Vice President and Chief Financial Officer of Nutrien, effective August 26, 2024. He joined Nutrien in 2011 and has held numerous executive and senior leadership positions across the company's business units. Most recently, he served as the Executive Vice President and Chief Commercial Officer. His previous roles include Executive Vice President and Chief Strategy & Sustainability Officer, Executive Vice President and Chief Corporate Development & Strategy Officer, and Vice President of Business Development for Nutrien's Retail business.

Jeff Tarsi, Executive Vice President and President, Global Retail

Jeff Tarsi serves as Executive Vice President and President, Global Retail at Nutrien.

Noralee Bradley, Executive Vice President, External Affairs, Chief Legal Officer and Corporate Secretary

Noralee Bradley is the Executive Vice President, External Affairs, Chief Legal Officer and Corporate Secretary for Nutrien.

Chris Reynolds, Executive Vice President and Chief Commercial Officer

Chris Reynolds is the Executive Vice President and Chief Commercial Officer at Nutrien. He has been with the company for over 20 years, gaining extensive experience across Nutrien's Potash, Nitrogen, and Phosphate business units. Prior to his current role, he served as Executive Vice President & President, Potash, and previously headed the company's Sales organization as Senior Vice President, Sales. He has over 25 years of experience in the global fertilizer industry.

AI Analysis | Feedback

The public company Nutrien (NTR) faces several key risks inherent to the agricultural and commodity sectors. The three most significant risks include:

Commodity Price Volatility and Fertilizer Demand: Nutrien's revenues and margins are heavily influenced by the fluctuating prices of fertilizers, including potash, nitrogen, and phosphate. Volatility in natural gas prices, a crucial input for nitrogen fertilizers, further contributes to this risk. Lower crop prices can also lead to decreased farmer spending and, consequently, reduced demand for fertilizers.
Geopolitical Risks and Supply Chain Disruptions: Global geopolitical tensions, shifts in trade policies (such as proposed tariffs), and evolving regulatory landscapes can significantly impact Nutrien's operations. These factors can disrupt global supply chains, affecting the availability and cost of both Nutrien's products and the non-integrated raw materials it procures.
Financial Health and Debt Levels: While Nutrien generally maintains a robust financial position, some analyses indicate an Altman Z-Score that suggests potential financial distress, along with considerable debt levels. Furthermore, concerns have been raised regarding potential increases in bad debt expense and loss reserves within Nutrien Financial, the company's captive lending unit within its Retail segment.

AI Analysis | Feedback

null

AI Analysis | Feedback

Nutrien (symbol: NTR) operates in several key addressable markets related to crop inputs and services:

Potash: The global potash market size was estimated at approximately USD 62.37 billion in 2024 and is projected to reach around USD 93.50 billion by 2032. Another estimate places the global potash market at USD 63.00 billion in 2024, increasing to approximately USD 101.57 billion by 2034. In North America, the market generated USD 11.9 billion in revenue in 2022.
Nitrogen: The global nitrogenous fertilizer market was valued at USD 63.83 billion in 2023 and is expected to grow to USD 105.39 billion by 2032. Other estimations include a global market size of USD 135.39 billion in 2025, forecasted to reach approximately USD 223.35 billion by 2034.
Phosphate: The global phosphate fertilizer market size was valued at USD 69.92 billion in 2024 and is expected to reach USD 97.92 billion by 2032. Another source indicates the global phosphate fertilizer market was valued at USD 61.42 billion in 2025 and is forecast to reach USD 101.00 billion by 2035.
Retail (Crop Inputs and Services): Nutrien's retail segment, which offers farmers complete agricultural solutions including plant nutrition, crop protection products, seed, and agronomic advice, operates within the broader agriculture and agribusiness markets. The global agriculture market size was valued at approximately USD 1.2 trillion in 2023 and is projected to expand to USD 8.68 trillion by 2030. Another estimate states the agriculture market size reached USD 12,122.26 billion in 2024 and is expected to grow to USD 16,763.88 billion by 2029. The global agribusiness market size was valued at USD 3.4 trillion in 2024 and is estimated to reach USD 4.4 trillion by 2033.

AI Analysis | Feedback

Nutrien (NTR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Expected Drivers of Future Revenue Growth for Nutrien (NTR)

Increased Upstream Fertilizer Sales Volumes: Nutrien anticipates higher sales volumes for both potash and nitrogen. The company has provided guidance for increased potash sales volumes, supported by strong global demand and firming potash fundamentals. Similarly, higher nitrogen sales volumes are expected due to improved operating rates and reliability at its production facilities.
Growth in Downstream Retail Earnings, including Proprietary Products: The company is focused on expanding its Retail segment's adjusted EBITDA, driven by higher product margins, particularly in North America, and continued growth of its proprietary crop nutrient and biostimulant product lines. Nutrien aims to optimize its downstream Retail network through modernization and consolidation initiatives in North America and a targeted margin improvement plan in Brazil.
Operational Efficiencies and Cost Savings: Nutrien is committed to accelerating cost-saving initiatives and driving operational improvements to increase asset efficiency. The company targets a reduction of approximately $200 million in costs by 2026 across operations and corporate functions. While primarily impacting profitability, these efficiencies can indirectly support revenue growth by enhancing competitiveness and freeing up capital for strategic investments.
Strategic Portfolio Optimization and Focus on Core Assets: Nutrien is simplifying its portfolio by focusing on core assets and markets, prioritizing investments in North American fertilizer production and proprietary products capabilities. This includes reviewing strategic options for certain assets, such as its phosphate business and its stake in Profertil, to enhance earnings quality and improve free cash flow, which can then be reinvested into higher-return growth opportunities.

AI Analysis | Feedback

Share Repurchases

In the first three quarters of 2025 (Q3 YTD), Nutrien reported $401 million in share repurchases, marking a 42% increase from the same period in 2024.
As of February 26, 2025, the Toronto Stock Exchange approved a renewed Normal Course Issuer Bid (NCIB) allowing Nutrien to purchase up to 5% of its outstanding common shares, with this program expiring on March 2, 2026.
Under a prior NCIB, Nutrien repurchased approximately US$4.68 billion worth of common shares at a weighted-average price of US$84.86 per share, with this program expiring in February 2023.

Inbound Investments

In March 2025, Nutrien announced a successful $1 billion funding round to enhance innovative solutions and invest in cutting-edge technologies.

Outbound Investments

In June 2024, Nutrien Ag Solutions acquired Suncor Energy's AgroScience assets, which include patented and patent-pending biocontrol technologies.
In 2022, Nutrien made several acquisitions, including Safra Rica in October, Casa Do Adubo in July, Marca Agro in July, and Agromercantil in June.
Nutrien is in the process of divesting its 50% equity interest in Profertil S.A. for approximately $0.6 billion, contributing to expected gross proceeds from asset divestitures of approximately $0.9 billion over the last twelve months as of November 2025.

Capital Expenditures

Nutrien's forecasted capital expenditures for 2025 are anticipated to be between $2.0 and $2.1 billion, a decrease from $2.2 billion in 2024 and $2.6 billion in 2023.
Approximately $400 million to $500 million of the 2025 investing capital expenditures are earmarked for retail proprietary products, network optimization, digital capabilities, low-cost brownfield expansions in Nitrogen, and potash mine automation projects.
Total capital expenditures were $2.155 billion in 2024, $2.645 billion in 2023, $2.475 billion in 2022, $1.913 billion in 2021, and $1.530 billion in 2020.

Better Bets than Nutrien (NTR)

INDUSTRY: Fertilizers & Agricultural Chemicals

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

SMG (-4.5% | 1.0x)

Scotts Miracle Gro

AVD (-4.5% | 0.2x)

American Vanguard

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

SMG (-4.5% | 7.9x)

Scotts Miracle Gro

Higher Rev Chg LTM (Value for NTR: 0.3%)

SEED (32.5%)

Origin Agritech

CF (12.6%)

CF Industries

IPI (8.9%)

Intrepid Potash

CTVA (5.0%)

Corteva

MOS (3.8%)

Mosaic

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

CTVA (0.8%)

Corteva

SMG (-4.5%)

Scotts Miracle Gro

AVD (-4.5%)

American Vanguard

IPI (-6.1%)

Intrepid Potash

NITO (-9.5%)

N2OFF

Higher Op Mgn LTM (Value for NTR: 13.4%)

CF (31.1%)

CF Industries

CTVA (15.5%)

Corteva

Higher CFO/Rev LTM (Value for NTR: 15.6%)

CF (39.1%)

CF Industries

IPI (19.6%)

Intrepid Potash

CTVA (18.4%)

Corteva

Higher FCF/Rev LTM (Value for NTR: 8.0%)

CF (25.4%)

CF Industries

CTVA (15.3%)

Corteva

IPI (10.0%)

Intrepid Potash

SMG (8.0%)

Scotts Miracle Gro

Higher Total Yield (Value for NTR: 9.4%)

MOS (19.5%)

Mosaic

CF (13.7%)

CF Industries

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

IP (9.0% | 0.8x)

International Paper

SW (55.9% | 0.6x)

Smurfit WestRock

AMCR (6.5% | 1.1x)

Amcor

RS (-7.0% | 1.1x)

Reliance

BALL (-4.4% | 1.1x)

Ball

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

DD (1.3% | 8.1x)

DuPont de Nemours

CCK (-2.1% | 7.2x)

Crown

EMN (-5.9% | 6.1x)

Eastman Chemical

BTG (15.6% | 6.4x)

B2Gold

SEE (-2.6% | 7.5x)

Sealed Air

Higher Rev Chg LTM (Value for NTR: 0.3%)

AEM (35.2%)

Agnico Eagle Mines

NEM (26.6%)

Newmont

SCCO (12.7%)

Southern Copper

CRH (4.3%)

CRH

LIN (1.3%)

Linde

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

AEM (26.0%)

Agnico Eagle Mines

NEM (23.9%)

Newmont

SCCO (7.1%)

Southern Copper

CRH (5.7%)

CRH

LIN (0.6%)

Linde

Higher Op Mgn LTM (Value for NTR: 13.4%)

SCCO (50.3%)

Southern Copper

AEM (49.4%)

Agnico Eagle Mines

NEM (43.5%)

Newmont

LIN (26.9%)

Linde

CRH (13.8%)

CRH

Higher CFO/Rev LTM (Value for NTR: 15.6%)

AEM (55.2%)

Agnico Eagle Mines

B (43.5%)

Barrick Mining

NEM (42.9%)

Newmont

SCCO (37.4%)

Southern Copper

LIN (29.8%)

Linde

Higher FCF/Rev LTM (Value for NTR: 8.0%)

AEM (34.5%)

Agnico Eagle Mines

NEM (28.5%)

Newmont

SCCO (28.2%)

Southern Copper

LIN (15.2%)

Linde

SHW (10.4%)

Sherwin-Williams

Higher Total Yield (Value for NTR: 9.4%)

MOS (19.5%)

Mosaic

LYB (14.5%)

LyondellBasell Industries

GPK (14.1%)

Graphic Packaging

CF (13.7%)

CF Industries

EMN (12.2%)

Eastman Chemical

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

UNH (11.4% | 0.7x)

UnitedHealth

CMCSA (0.7% | 0.9x)

Comcast

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

DELL (0.2% | 0.8x)

Dell Technologies

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

T (1.1% | 7.3x)

AT&T

VZ (0.5% | 5.4x)

Verizon Communications

BUD (0.8% | 8.3x)

Anheuser-Busch InBev SA/NV

CMCSA (0.7% | 4.9x)

Comcast

MO (-0.9% | 8.1x)

Altria

Higher Rev Chg LTM (Value for NTR: 0.3%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for NTR: 13.4%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for NTR: 15.6%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for NTR: 8.0%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for NTR: 9.4%)

VZ (18.3%)

Verizon Communications

TD (12.8%)

Toronto-Dominion Bank

T (12.6%)

AT&T

MRK (10.2%)

Merck

UBER (9.8%)

Uber Technologies

		Best Bets In Materials Sector
	NTR	SCCO	USLM	CF	NEU	EXP	LIN	NEM	SMG	CBT	B
What You Pay
P/E	16.8	32.2	27.8	9.0	14.8	15.5	29.8	16.1	23.1	10.7	22.0
P/EBIT	9.4	19.4	23.7	5.6	10.7	11.4	21.4	11.1	9.6	5.5	11.3
What You Get
Rev Chg Q	12.3%	15.2%	14.1%	21.1%	-4.8%	2.5%	2.8%	20.0%	-6.6%	-10.2%	23.2%
Rev Chg LTM	0.3%	12.7%	20.3%	12.6%	-1.1%	1.5%	1.3%	26.6%	-3.9%	-7.0%	18.4%
Rev Chg 3Y Avg	-10.6%	7.1%	17.8%	-13.5%	1.1%	4.1%	0.6%	23.9%	-4.5%	-4.8%	8.5%
FCF/Rev 3Y Avg	8.7%	27.0%	25.6%	22.3%	17.5%	16.7%	15.4%	13.8%	12.3%	10.3%	10.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 11%, alpha of 1.8%, and sharpe of 0.46

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	CF Industries vs Nutrien: Which Is the Stronger Buy Today?	Counter-Intuitive Comparisons
2	Can Nutrien Stock Hold Up When Markets Turn?	Return
3	NTR Dip Buy Analysis
4	Nutrien (NTR) Valuation Ratios Comparison	Financials
5	Nutrien Total Shareholder Return (TSR): -12.4% in 2024 and -8.6% 3-yr compounded annual returns (below peer average)
6	Should You Buy Nutrien Stock?	Buy or Fear
7	Nutrien (NTR) Operating Cash Flow Comparison	Financials
8	Nutrien (NTR) Net Income Comparison	Financials
9	Nutrien (NTR) Operating Income Comparison	Financials
10	Nutrien (NTR) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to NTR. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
DD_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	DD	DuPont de Nemours	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	7.6%	7.6%	-0.2%
CF_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	CF	CF Industries	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	-1.4%	-1.4%	-3.1%
HL_11212025_Quality_Momentum_RoomToRun_10%	11212025	HL	Hecla Mining	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	51.0%	51.0%	0.0%
CDE_11072025_Dip_Buyer_ValueBuy	11072025	CDE	Coeur Mining	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.6%	30.6%	-5.7%
ATR_10312025_Dip_Buyer_ValueBuy	10312025	ATR	AptarGroup	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.2%	6.2%	-2.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Nutrien

Peers to compare with:

Financials

	NTR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Nutrien	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	62.77	23.26	24.49	305.09	78.16	273.40	70.47
Mkt Cap	30.5	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	26,624	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	3,578	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	2,132	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	2,449	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	4,153	3,697	2,919	13,483	13,744	108,565	8,818
CFO 3Y Avg	4,789	3,672	3,896	13,498	14,736	111,559	9,144

Growth & Margins

	NTR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Nutrien	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	0.3%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	-10.6%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	12.3%	4.2%	14.4%	9.1%	7.5%	9.6%	9.4%
QoQ Delta Rev Chg LTM	2.5%	1.1%	3.7%	2.1%	1.8%	2.1%	2.1%
Op Mgn LTM	13.4%	6.6%	4.8%	17.7%	22.5%	31.9%	15.5%
Op Mgn 3Y Avg	13.7%	7.4%	7.2%	16.4%	24.2%	30.8%	15.0%
QoQ Delta Op Mgn LTM	2.0%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	15.6%	6.7%	8.5%	20.6%	23.8%	26.6%	18.1%
CFO/Rev 3Y Avg	17.0%	6.8%	12.7%	21.4%	26.1%	28.4%	19.2%
FCF/Rev LTM	8.0%	5.1%	1.8%	18.1%	22.1%	23.5%	13.1%
FCF/Rev 3Y Avg	8.7%	5.5%	4.6%	18.6%	24.6%	25.6%	13.7%

Valuation

	NTR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Nutrien	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	30.5	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	1.1	0.4	1.0	4.4	5.4	10.0	2.8
P/EBIT	9.4	6.8	19.9	25.1	22.5	31.3	21.2
P/E	16.8	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	7.3	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	9.4%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	3.5%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	9.0%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	0.5	0.5	0.7	0.2	0.1	0.0	0.3
Net D/E	0.4	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	NTR	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Nutrien	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	9.4%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.7%
3M Rtn	7.7%	-11.9%	2.7%	7.9%	17.0%	7.1%	7.4%
6M Rtn	10.0%	-4.0%	34.5%	6.6%	15.2%	36.3%	12.6%
12M Rtn	47.7%	-27.0%	16.2%	40.5%	34.5%	7.5%	25.3%
3Y Rtn	-2.8%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	8.0%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	3.4%	-16.2%	-1.7%	3.6%	12.7%	2.8%	3.1%
6M Excs Rtn	-2.2%	-16.3%	22.3%	-5.7%	3.0%	24.0%	0.4%
12M Excs Rtn	31.2%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	9.6%
3Y Excs Rtn	-84.4%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/6/2025	2/28/2025	3/1/2024	2/24/2023	2/25/2022	2/26/2021	2/28/2020
Key Financials
Total Revenue	26,624	25,972	29,056	37,884	27,712	20,908	20,084
EBITDA	5,621	4,212	4,885	12,779	6,582	2,892	3,666
Operating Income	3,578	2,951	3,860	10,183	5,122	1,724	2,197
Net Income	1,809	674	1,258	7,660	3,153	459	992
EPS	3.72	1.36	2.53	14.22	5.53	0.81	1.70
Growth Rates
Total Revenue Growth	0.3%	-10.6%	-23.3%	36.7%	32.5%	4.1%	2.3%
EBITDA Growth	39.2%	-13.8%	-61.8%	94.2%	127.6%	-21.1%	81.2%
Operating Income Growth	21.7%	-23.5%	-62.1%	98.8%	197.1%	-21.5%	-3.0%
Net Income Growth	146.8%	-46.4%	-83.6%	142.9%	586.9%	-53.7%	-72.2%
Margins
EBITDA Margin	21.1%	16.2%	16.8%	33.7%	23.8%	13.8%	18.3%
Operating Income Margin	13.4%	11.4%	13.3%	26.9%	18.5%	8.2%	10.9%
Net Income Margin	6.8%	2.6%	4.3%	20.2%	11.4%	2.2%	4.9%
Cash & Debt
Total Cash	624	853	941	901	499	1,454	671
Total Debt	14,180	12,807	12,566	11,928	10,846	11,360	11,104
Net Debt / (Cash)	13,556	11,954	11,625	11,027	10,347	9,906	10,433
Cash Flows
Net Cash from Operations	4,153	3,535	5,066	8,110	3,886	3,323	3,665
Free Cash from Operations	2,132	1,381	2,466	5,635	2,002	1,774	1,774
Returns to Shareholders
Dividends	1,063	1,060	1,032	1,031	1,045	1,030	1,022
Share Repurchases	535	184	1,047	4,520	1,035	160	1,930

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/6/2025	8/7/2025	5/8/2025	2/28/2025	11/7/2024	8/8/2024	5/9/2024	3/1/2024	11/1/2023	8/3/2023	5/11/2023	2/24/2023
Key Financials Quarterly
Total Revenue	6,007	10,438	5,100	5,079	5,348	10,156	5,389	5,664	5,631	11,654	6,107	7,533
Ebitda	1,424	2,396	797	1,004	794	1,430	984	829	937	1,684	1,435	2,137
Operating Income	877	1,927	291	483	261	1,699	504	477	535	1,990	864	1,719
Net Income	464	1,221	11	113	18	385	158	172	75	440	571	1,112
EPS	0.96	2.51	0.02	0.23	0.04	0.78	0.32	0.35	0.15	0.89	1.14	2.15
Key Financials TTM
Total Revenue TTM	26,624	25,965	25,683	25,972	26,557	26,840	28,338	29,056	30,925	33,482	36,334	37,884
Ebitda TTM	5,621	4,991	4,025	4,212	4,037	4,180	4,434	4,885	6,193	7,988	11,754	12,779
Operating Income TTM	3,578	2,962	2,734	2,947	2,941	3,215	3,506	3,866	5,108	6,485	9,027	10,171
Net Income TTM	1,809	1,363	527	674	733	790	845	1,258	2,198	3,700	6,853	7,660
Growth Rates Quarterly
Total Revenue Growth	12.3%	2.8%	-5.4%	-10.3%	-5.0%	-12.9%	-11.8%	-24.8%	-31.2%	-19.7%	-20.2%	3.7%
EBITDA Growth	79.3%	67.6%	-19.0%	21.1%	-15.3%	-15.1%	-31.4%	-61.2%	-65.7%	-69.1%	-41.7%	-1.7%
Operating Income Growth	236.0%	13.4%	-42.3%	1.3%	-51.2%	-14.6%	-41.7%	-72.3%	-72.0%	-56.1%	-57.0%	-12.0%
Net Income Growth	2477.8%	217.1%	-93.0%	-34.3%	-76.0%	-12.5%	-72.3%	-84.5%	-95.2%	-87.8%	-58.6%	-7.4%
Margins Quarterly
EBITDA Margin	23.7%	23.0%	15.6%	19.8%	14.8%	14.1%	18.3%	14.6%	16.6%	14.4%	23.5%	28.4%
Operating Income Margin	14.6%	18.5%	5.7%	9.5%	4.9%	16.7%	9.4%	8.4%	9.5%	17.1%	14.1%	22.8%
Net Income Margin	7.7%	11.7%	0.2%	2.2%	0.3%	3.8%	2.9%	3.0%	1.3%	3.8%	9.3%	14.8%
Cash & Debt
Total Cash	624	1,387	895	853	520	1,004	496	941	554	737	1,473	901
Total Debt	14,180	13,638	14,707	12,807	14,756	13,370	13,638	12,566	14,987	13,626	15,254	11,928
Net Debt / (Cash)	13,556	12,251	13,812	11,954	14,236	12,366	13,142	11,625	14,433	12,889	13,781	11,027
Cash Flows Quarterly
FCF from Operations	-426	2,538	-1,082	3,123	-908	1,807	-487	4,150	-469	2,243	-858	4,736
Cash Flows TTM
FCF from Operations TTM	4,153	3,671	2,940	3,535	4,562	5,001	5,437	5,066	5,652	6,999	7,314	8,110
Returns to Shareholders Quarterly
Dividends	265	268	265	265	268	266	261	262	261	263	246	251
Share Repurchases	148	105	148	134	50	-0	-0	-0	-0	150	897	1,214
Return on Invested Capital (ROIC) Quarterly
ROIC	9.6%	22.7%	1.7%	4.5%	3.7%	15.1%	5.2%	7.6%	3.5%	14.6%	9.5%	21.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	9.7%	8.5%	5.9%	7.2%	7.9%	8.5%	8.0%	10.1%	12.2%	17.4%	24.8%	30.6%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Retail	23,056	24,451	22,387	20,526	19,990
Potash	13,571	13,921	13,148	11,707	11,696
Nitrogen	11,466	11,807	11,093	10,077	10,991
Corporate and Others	2,818	2,622	2,266	3,917	2,129
Phosphate	2,438	2,661	1,699	1,388	2,198
Eliminations	-600	-876	-639	-423	-205
Total	52,749	54,586	49,954	47,192	46,799

Price Behavior

Price Behavior

Market Price	$62.77
Market Cap ($ Bil)	30.5
First Trading Date	01/02/2018
Distance from 52W High	-1.3%
	50 Days	200 Days
DMA Price	$58.51	$56.81
DMA Trend	up	up
Distance from DMA	7.3%	10.5%
	3M	1YR
Volatility	31.4%	28.5%
Downside Capture	89.48	27.16
Upside Capture	107.07	61.38
Correlation (SPY)	26.5%	26.3%

NTR Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.05	0.92	0.84	0.48	0.41	0.58
Up Beta	0.92	0.23	0.22	0.08	0.34	0.51
Down Beta	1.60	0.57	0.77	0.67	0.44	0.48
Up Capture	157%	109%	93%	38%	44%	25%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	15	26	35	68	137	379
Down Capture	71%	133%	114%	69%	45%	93%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	5	16	28	58	112	367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of NTR With Other Asset Classes (Last 1Y)
	NTR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	46.8%	9.9%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	28.3%	19.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	1.35	0.36	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		39.0%	26.1%	16.6%	33.4%	18.8%	19.1%

ETFs used for asset classes: Sector ETF = XLB, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of NTR With Other Asset Classes (Last 5Y)
	NTR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	9.3%	7.2%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	33.4%	18.9%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.33	0.29	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		49.7%	34.7%	19.7%	37.9%	30.5%	14.9%

Based On 10-Year Data

		Comparison of NTR With Other Asset Classes (Last 10Y)
	NTR	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	5.5%	10.1%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	33.8%	20.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.25	0.44	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		58.9%	47.7%	11.3%	40.7%	41.0%	16.7%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	12,124,530
Short Interest: % Change Since 11302025	152.1%
Average Daily Volume	3,244,227
Days-to-Cover Short Interest	3.74
Basic Shares Quantity	485,583,000
Short % of Basic Shares	2.5%

Returns Analyses

	Title
0	Can Nutrien Stock Hold Up When Markets Turn?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	6-K 9/30/2025
6302025	8072025	6-K 6/30/2025
3312025	5082025	6-K 3/31/2025
12312024	2282025	40-F 12/31/2024
9302024	11072024	6-K 9/30/2024
6302024	8082024	6-K 6/30/2024
3312024	5092024	6-K 3/31/2024
12312023	3012024	40-F 12/31/2023
9302023	11012023	6-K 9/30/2023
6302023	8032023	6-K 6/30/2023
3312023	5112023	6-K 3/31/2023
12312022	2242023	40-F 12/31/2022
9302022	11032022	6-K 9/30/2022
6302022	8042022	6-K 6/30/2022
3312022	5032022	6-K 3/31/2022
12312021	2252022	40-F 12/31/2021

Insider Activity

Expand for Morenull

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

Nutrien (NTR)

Market Price (12/28/2025): $62.77 | Market Cap: $30.5 BilSector: Materials | Industry: Fertilizers & Agricultural Chemicals

Nutrien (NTR)

Market Price (12/28/2025): $62.77Market Cap: $30.5 BilSector: MaterialsIndustry: Fertilizers & Agricultural Chemicals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

NTR Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Nutrien (NTR)

Large-scale Commercial Farmers

Mid-sized Family Farmers

Specialty Crop and Livestock Producers

Expected Drivers of Future Revenue Growth for Nutrien (NTR)

Share Repurchases

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Nutrien (NTR)

INDUSTRY: Fertilizers & Agricultural Chemicals

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

Higher Rev Chg LTM (Value for NTR: 0.3%)

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

Higher Op Mgn LTM (Value for NTR: 13.4%)

Higher CFO/Rev LTM (Value for NTR: 15.6%)

Higher FCF/Rev LTM (Value for NTR: 8.0%)

Higher Total Yield (Value for NTR: 9.4%)

SECTOR: Materials

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

Higher Rev Chg LTM (Value for NTR: 0.3%)

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

Higher Op Mgn LTM (Value for NTR: 13.4%)

Higher CFO/Rev LTM (Value for NTR: 15.6%)

Higher FCF/Rev LTM (Value for NTR: 8.0%)

Higher Total Yield (Value for NTR: 9.4%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for NTR: -10.6% | 1.1x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for NTR: -10.6% | 8.5x)

Higher Rev Chg LTM (Value for NTR: 0.3%)

Higher Rev Chg 3Y Avg (Value for NTR: -10.6%)

Higher Op Mgn LTM (Value for NTR: 13.4%)

Higher CFO/Rev LTM (Value for NTR: 15.6%)

Higher FCF/Rev LTM (Value for NTR: 8.0%)

Higher Total Yield (Value for NTR: 9.4%)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Nutrien

Financials

Growth & Margins

Valuation

Returns

Market Price (12/28/2025): $62.77 | Market Cap: $30.5 Bil
Sector: Materials | Industry: Fertilizers & Agricultural Chemicals

Market Price (12/28/2025): $62.77
Market Cap: $30.5 Bil
Sector: Materials
Industry: Fertilizers & Agricultural Chemicals