Icahn Enterprises L.P. (IEP)
Icahn Enterprises L.P. brought in $11B of revenue over the twelve months to September 30, 2026, up 16.1% from a year earlier. It posted a net loss of $1B. In fiscal 2025 capital spending exceeded operating cash flow by $654M. At September 30, 2026 it held $2.3B in cash against $6.4B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 4, 2026.
Key facts about Icahn Enterprises L.P.
- Net worth
- Icahn Enterprises L.P. has a market value (market cap) of $3.4B at the latest share price, and shareholders' equity of $6.6B on its balance sheet at December 31, 2018. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $9.7B (-3.6% year on year), with a net loss of $299M. Over the 12 months to September 30, 2026: revenue $11B, net loss $1B.
- Cash flow
- In fiscal 2025 operations used $313M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 4, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Icahn Enterprises L.P.'s next report is expected around February 24, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Icahn Enterprises L.P. does
Icahn Enterprises L.P. is registered with the SEC under industry code SIC 2911 (Petroleum Refining). Its shares trade on NASDAQ under the ticker IEP.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $9.7B | -$299M | n/a | -$654M |
| 2024 | $10B | -$445M | n/a | $552M |
| 2023 | $10.9B | -$684M | n/a | $3.4B |
| 2021 | $14.2B | -$183M | n/a | $717M |
| 2021 | $11.3B | -$518M | n/a | $16M |
| 2020 | $6.1B | -$1.7B | n/a | -$615M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where IEP ranks in Energy
Dividends
It paid out $526M in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2020 | n/a | $526M | n/a |
| 2019 | n/a | $112M | n/a |
| 2018 | n/a | $97M | 7% |
| 2017 | $6.00 | $81M | 3% |
| 2016 | $6.00 | $103M | n/a |
Latest SEC filings
What Icahn Enterprises L.P. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026
- November 4, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 16% to $3.2B versus the same quarter last year; net loss of $225M versus net income of $287M.
- November 3, 2026
- September 25, 2026Activist stake changed SCHEDULE 13D/A
- August 20, 2026
- August 7, 2026
- August 5, 2026
- August 5, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 26% to $3B versus the same quarter last year; net loss of $355M.
- July 21, 2026
- June 29, 2026Activist stake changed SCHEDULE 13D/A
Insider trades
What the people running Icahn Enterprises L.P. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 1 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 23, 2026 | Icahn Carl CDirector, 10% owner | Other changeindirect | 40,531,194 | $284.2M |
| June 25, 2026 | Icahn Carl CDirector, 10% owner | Other changeindirect | 36,456,030 | $266M |
| May 6, 2026 | Flint RobertChief Financial Officer, Director | Exercised options | 20,486 | - |
| May 6, 2026 | Flint RobertChief Financial Officer, Director | Other change | 20,486 | $161.5K |
| April 15, 2026 | Icahn Carl CDirector, 10% owner | Other changeindirect | 32,536,774 | $249.7M |
| December 24, 2025 | Icahn Carl CDirector, 10% owner | Other changeindirect | 30,467,595 | $234.5M |
Who owns IEP
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Carl C. Icahn13D, may seek influence with 9 related filers | 87.69% | September 25, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 116 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Icahn Carl C | 618,393,343 | +68,992,804 |
| Morgan Stanley | 5,258,581 | -414,341 |
| First Trust Advisors LP | 885,108 | +81,099 |
| Susquehanna International Group, Llp | 775,176 | +33,795 |
| Soviero Asset Management, LP | 700,000 | +250,000 |
| Geode Capital Management, LLC | 553,376 | -27,747 |
| Group One Trading LLC | 408,446 | +324,248 |
| Citadel Advisors LLC | 351,892 | new |
| Simplex Trading, LLC | 252,509 | +98,873 |
| Invesco Ltd. | 159,949 | -1,920 |
| Jump Financial, LLC | 159,700 | -230,071 |
| Raymond James Financial Inc | 159,240 | +27,412 |
| LPL Financial LLC | 156,521 | +23,532 |
| Citigroup Inc | 151,128 | -21,802 |
| Goldman Sachs Group Inc | 133,453 | +26,431 |
| Osaic Holdings, Inc. | 116,519 | +91,461 |
| Mgo One Seven LLC | 91,024 | +13,073 |
| DRW Securities, LLC | 85,868 | new |
| Mariner, LLC | 68,020 | +6,736 |
| IMC-Chicago, LLC | 59,521 | new |
Insiders
1 insiders reported holding 658,924,537 shares in total, about $3.2B at the last price.
| Holder | Shares |
|---|---|
| Icahn Carl CDirector, 10% owner | 658,924,537658,924,537 held indirectly |
Questions about IEP
What does Icahn Enterprises L.P. do?
Icahn Enterprises L.P. is a company in the Energy sector, listed on NASDAQ as IEP. Its shares trade on NASDAQ under the ticker IEP.
What is Icahn Enterprises L.P.'s net worth?
Icahn Enterprises L.P. has a market value (market cap) of $3.4B at the latest share price, and shareholders' equity of $6.6B on its balance sheet at December 31, 2018. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Icahn Enterprises L.P. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $1B on revenue of $11B.
How much revenue does Icahn Enterprises L.P. make?
Over the twelve months to September 30, 2026 Icahn Enterprises L.P. reported revenue of $11B. That is 16.1% more than a year earlier.
When did Icahn Enterprises L.P. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 4, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the investor disclosure from November 5, 2026.
When is Icahn Enterprises L.P.'s next earnings report?
Icahn Enterprises L.P.'s next report is expected around February 24, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Icahn Enterprises L.P. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.