CF Industries Holdings (CF) FY2023 results: revenue $6.6 billion, down 40.7% on the year
CF Industries Holdings, Inc. (CF) reported revenue of $6.6 billion for fiscal 2023, the year ended 31 December 2023, down 40.7% on the year before. Net income was $1.5 billion, down 54.4%, and diluted earnings per share $7.87. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$6.6 billion
-40.7% on the year
FY2016FY2023
Operating margin
33.6%
48.2% a year earlier
FY2016FY2023
Net income
$1.5 billion
-54.4% on the year
FY2016FY2023
Diluted EPS
$7.87
-52.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,757
3,855
2,873
-28.5%
Capital expenditure
499
453
514
+10.2%
Free cash flow
2,258
3,402
2,359
-33.6%
Free cash flow margin
34.1%
30.4%
36.1%
Cash from investing
-1,679
-440
-466
Cash from financing
-1,372
-2,700
-1,463
Depreciation and amortisation
869
850
888
+2.2%
Share-based compensation
37.0
41.0
30.0
-9.8%
Buybacks
580
1,347
539
-56.9%
Dividends paid
311
306
260
+1.6%
Dividend per share
$1.60
$1.50
$1.20
+6.7%
Diluted shares, weighted
194m
204m
216m
-5.1%
Shares outstanding at period end
188m
196m
208m
-3.8%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
5,717
5,051
3,206
+13.2%
Non-controlling interest
2,656
2,802
2,830
-5.2%
Debt
2,968
2,965
3,465
+0.1%
Operating lease liabilities
168
167
162
+0.6%
Other liabilities
2,867
2,328
2,712
+23.2%
Total liabilities and equity
14,376
13,313
12,375
+8.0%
Fixed assets
7,141
6,437
7,081
+10.9%
Goodwill
2,495
2,089
2,091
+19.4%
Intangible assets
538
15.0
45.0
+3,486.7%
Cash and equivalents
2,032
2,323
1,628
-12.5%
Receivables
505
582
497
-13.2%
Inventory
299
474
408
-36.9%
Other assets
1,366
1,393
625
-1.9%
Total assets
14,376
13,313
12,375
+8.0%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.