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CF Industries vs Nutrien: revenue, profit, margins and growth compared

CF Industries brought in $7.1B of revenue in fiscal 2025, Nutrien $26.9B in fiscal 2025. Revenue changed by +19.3% at CF Industries and +3.5% at Nutrien on the year before, so CF Industries grew faster. CF Industries kept 20.5% of its revenue as net profit, Nutrien 8.4%. Free cash flow was $1.8B at CF Industries and $2.1B at Nutrien.

Side by side, latest fiscal year

CFNTR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$7.1B$26.9B
Revenue growth+19.3%+3.5%
Net income$1.5B$2.3B
Net margin20.5%8.4%
Free cash flow$1.8B$2.1B
Free cash flow margin25.4%7.9%
Earnings per share (diluted)$8.97$4.66
Cash$2B$701M
Debt$3.2B$9.9B
Price to earnings12.8n/a
Market value$17.4B$34.8B
Dividend yield1.74%n/a
Rank by revenue in sector#96 of 451 · Industrials#25 of 451 · Industrials

Over the years

Revenue
CF FY2018: $4.4BCF FY2019: $4.6BCF FY2020: $4.1BCF FY2021: $6.5BCF FY2022: $11.2BCF FY2023: $6.6BCF FY2024: $5.9BCF FY2025: $7.1BNTR FY2018: $19.6BNTR FY2019: $20.1BNTR FY2020: $20.9BNTR FY2021: $27.7BNTR FY2022: $37.9BNTR FY2023: $29.1BNTR FY2024: $26BNTR FY2025: $26.9BFY18FY19FY20FY21FY22FY23FY24FY25
CF $7.1BNTR $26.9B
Net income
CF FY2018: $290MCF FY2019: $493MCF FY2020: $317MCF FY2021: $917MCF FY2022: $3.3BCF FY2023: $1.5BCF FY2024: $1.2BCF FY2025: $1.5BNTR FY2018: $3.6BNTR FY2019: $992MNTR FY2020: $459MNTR FY2021: $3.2BNTR FY2022: $7.7BNTR FY2023: $1.3BNTR FY2024: $674MNTR FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
CF $1.5BNTR $2.3B
Net margin
CF FY2018: 6.5%CF FY2019: 10.7%CF FY2020: 7.7%CF FY2021: 14.0%CF FY2022: 29.9%CF FY2023: 23.0%CF FY2024: 20.5%CF FY2025: 20.5%NTR FY2018: 18.2%NTR FY2019: 4.9%NTR FY2020: 2.2%NTR FY2021: 11.4%NTR FY2022: 20.2%NTR FY2023: 4.3%NTR FY2024: 2.6%NTR FY2025: 8.4%FY18FY19FY20FY21FY22FY23FY24FY25
CF 20.5%NTR 8.4%
Revenue growth
CF FY2019: +3.6%CF FY2020: -10.2%CF FY2021: +58.5%CF FY2022: +71.1%CF FY2023: -40.7%CF FY2024: -10.5%CF FY2025: +19.3%NTR FY2019: +2.3%NTR FY2020: +4.1%NTR FY2021: +32.5%NTR FY2022: +36.7%NTR FY2023: -23.3%NTR FY2024: -10.6%NTR FY2025: +3.5%FY19FY20FY21FY22FY23FY24FY25
CF +19.3%NTR +3.5%
Free cash flow
CF FY2018: $1.1BCF FY2019: $1.1BCF FY2020: $922MCF FY2021: $2.4BCF FY2022: $3.4BCF FY2023: $2.3BCF FY2024: $1.8BCF FY2025: $1.8BNTR FY2018: $647MNTR FY2019: $1.9BNTR FY2020: $1.9BNTR FY2021: $2.1BNTR FY2022: $5.9BNTR FY2023: $2.7BNTR FY2024: $1.5BNTR FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
CF $1.8BNTR $2.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about CF Industries and Nutrien

Which is bigger by revenue, CF Industries or Nutrien?

Nutrien is bigger by revenue: $26.9B in fiscal 2025, against $7.1B for CF Industries in fiscal 2025.

Which keeps more of its revenue as profit, CF Industries or Nutrien?

CF Industries had a net margin of 20.5% in fiscal 2025; Nutrien had 8.4% in fiscal 2025.

Which grew revenue faster, CF Industries or Nutrien?

In their latest fiscal years revenue changed by +19.3% at CF Industries and +3.5% at Nutrien.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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