Recent News
Nov 21, 2025 — Coverage pieces noted a strong one‑year total return for the stock. Dec 3, 2025 — Broker consensus aggregated as “strong sell” from multiple firms. Late December 2025 — CVR completed reversion of the Wynnewood renewable diesel unit to hydrocarbon processing. Jan 26–28, 2026 — Industry outlets and sector press reported the company’s operational pause of renewable diesel production and confirmation the RDU reversion finished in December, reducing domestic renewable diesel capacity by roughly 100 million gallons per year.
Technical Analysis
ADX / DI+ / DI-: ADX at 34.9 indicates a strong directional regime. DI+ sits at 19.09 and is increasing, a bullish sign; DI- at 32.06 shows a peak-and-reversal pattern, which also reads bullish under directional rules despite DI- remaining numerically higher. Together these directional indicators suggest a nascent shift toward bullish directional control even as prior downside pressure lingers.
MACD: MACD at -1.50 has completed a dip-and-reversal and now trades above its -1.70 signal line, a bullish momentum confirmation that supports near-term upside pressure on price.
MRO: MRO at -21.27 indicates the market price sits below the model target, implying upside potential; the oscillator’s increasing trend reinforces that potential is firming.
RSI and Price vs Moving Averages: RSI at 34.92 shows a dip-and-reversal from near-oversold levels, consistent with the MACD signal. Price closed at $22.49, below the 12‑day EMA ($23.06), 20‑day average ($23.24) and substantially below the 50‑day ($27.88) and 200‑day ($28.80) averages; this places current momentum gains within a still-below-average price context and identifies moving averages and the supertrend upper at $24.79 as near-term resistances.
Bands & Ichimoku: Price sits close to the lower Bollinger band ($22.03), limiting immediate downside space relative to the band width, while the Ichimoku cloud (Senkou A $31.82 / Senkou B $34.51) remains overhead and signals longer-term resistance to any extended rally.
Fundamental Analysis
Profitability & Margins: EBIT of $514M and EBITDA of $626M underlie an EBIT margin of 26.44%, above the industry peer mean of 6.756% and approaching the industry peer high of 30.204%. Gross margin stands at 28.70% and operating margin at 26.54%, both supportive of strong margin generation relative to typical mid‑cycle refining peers.
Revenue And Earnings Trends: Sequential dynamics show QoQ revenue growth of 48.73% while year‑over‑year revenue sits down about 2.53%. EPS outperformed consensus this period: actual EPS $0.40 versus estimate $0.23, an EPS surprise of approximately 73.91%.
Liquidity, Cash Flow & Capital Structure: Cash and short‑term investments total $670M with free cash flow of $120M and a free cash flow yield of 3.61%, above the industry peer mean of 2.44%. Current ratio near 1.96 and quick ratio 1.28 provide working capital cover, but net debt of $1,133M and debt/EBITDA roughly 2.97x reflect meaningful leverage. Debt to assets at 46.52% and debt to equity of 2.21x underscore capital structure risk if margins compress.
Returns: Return on equity registers at 44.52% and return on assets at 9.38%, each signaling efficient capital conversion in the current margin environment, though QoQ and YoY return metrics show recent deceleration.
Valuation: Market multiples run rich on several fronts—P/E about 82.75, price/book ~3.96 (well above the industry peer mean of 0.693), and forward P/E extremely elevated—while enterprise multiple near 7.21 and free cash flow yield modestly positive. The current valuation as determined by WMDST: over‑valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 596.0 M |
| Operating Cash Flow | $ 163.0 M | |
| Capital Expenditures | $ -43.00 M | |
| Change In Working Capital | $ -481.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 74.0 M | |
| End Period Cash Flow | $ 670.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.9 B | |
| Forward Revenue | $ 27.9 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.4 B | |
| Depreciation | $ 112.0 M | |
| Depreciation and Amortization | $ 112.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.4 B | |
| PROFITABILITY | ||
| Gross Profit | $ 558.0 M | |
| EBITDA | $ 626.0 M | |
| EBIT | $ 514.0 M | |
| Operating Income | $ 516.0 M | |
| Interest Income | — | |
| Interest Expense | $ 25.0 M | |
| Net Interest Income | $ -25.00 M | |
| Income Before Tax | $ 489.0 M | |
| Tax Provision | $ 88.0 M | |
| Tax Rate | 17.9 % | |
| Net Income | $ 374.0 M | |
| Net Income From Continuing Operations | $ 401.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.23 | |
| EPS Actual | $ 0.40 | |
| EPS Difference | $ 0.17 | |
| EPS Surprise | 73.913 % | |
| Forward EPS | $ 0.21 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 4.0 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 840.0 M | |
| Total Current Assets | $ 1.5 B | |
| Cash and Short-Term Investments | $ 670.0 M | |
| Cash | $ 670.0 M | |
| Net Receivables | $ 253.0 M | |
| Inventory | $ 509.0 M | |
| Long-Term Investments | $ 408.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 437.0 M | |
| Short-Term Debt | $ 14.0 M | |
| Total Current Liabilities | $ 755.0 M | |
| Net Debt | $ 1.1 B | |
| Total Debt | $ 1.9 B | |
| Total Liabilities | $ 3.0 B | |
| EQUITY | ||
| Total Equity | $ 840.0 M | |
| Retained Earnings | $ -667.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.36 | |
| Shares Outstanding | 100.531 M | |
| Revenue Per-Share | $ 19.34 | |
| VALUATION | Market Capitalization | $ 3.3 B |
| Enterprise Value | $ 4.5 B | |
| Enterprise Multiple | 7.212 | |
| Enterprise Multiple QoQ | -104.336 % | |
| Enterprise Multiple YoY | -113.071 % | |
| Enterprise Multiple IPRWA | high: 31.539 median: 31.539 mean: 23.69 CVI: 7.212 low: -53.099 |
|
| EV/R | 2.322 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.752 | |
| Asset To Liability | 1.353 | |
| Debt To Capital | 0.689 | |
| Debt To Assets | 0.465 | |
| Debt To Assets QoQ | -1.263 % | |
| Debt To Assets YoY | 22481.553 % | |
| Debt To Assets IPRWA | high: 1.466 median: 0.564 mean: 0.558 CVI: 0.465 low: 0.004 |
|
| Debt To Equity | 2.211 | |
| Debt To Equity QoQ | -45.115 % | |
| Debt To Equity YoY | 18555.781 % | |
| Debt To Equity IPRWA | CVI: 2.211 high: 1.818 median: 1.818 mean: 0.808 low: -3.312 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.961 | |
| Price To Book QoQ | -31.901 % | |
| Price To Book YoY | 8.827 % | |
| Price To Book IPRWA | CVI: 3.961 high: 2.081 median: 1.26 mean: 0.693 low: -2.254 |
|
| Price To Earnings (P/E) | 82.75 | |
| Price To Earnings QoQ | -172.954 % | |
| Price To Earnings YoY | -269.286 % | |
| Price To Earnings IPRWA | high: 119.893 CVI: 82.75 median: 44.432 mean: 36.046 low: -68.228 |
|
| PE/G Ratio | -0.302 | |
| Price To Sales (P/S) | 1.712 | |
| Price To Sales QoQ | 11.198 % | |
| Price To Sales YoY | 27.696 % | |
| Price To Sales IPRWA | high: 2.658 CVI: 1.712 mean: 1.269 low: 1.157 median: 1.157 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 570.617 | |
| Forward PE/G | -2.083 | |
| Forward P/S | 485.179 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -58.115 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.487 | |
| Asset Turnover Ratio QoQ | 13.975 % | |
| Asset Turnover Ratio YoY | 4.792 % | |
| Asset Turnover Ratio IPRWA | CVI: 0.487 high: 0.391 median: 0.374 mean: 0.347 low: 0.062 |
|
| Receivables Turnover | 7.807 | |
| Receivables Turnover Ratio QoQ | 25.244 % | |
| Receivables Turnover Ratio YoY | 23.306 % | |
| Receivables Turnover Ratio IPRWA | CVI: 7.807 high: 6.223 median: 5.723 mean: 5.256 low: 2.141 |
|
| Inventory Turnover | 2.739 | |
| Inventory Turnover Ratio QoQ | -18.53 % | |
| Inventory Turnover Ratio YoY | -25.198 % | |
| Inventory Turnover Ratio IPRWA | high: 6.91 median: 4.776 mean: 3.929 CVI: 2.739 low: 1.147 |
|
| Days Sales Outstanding (DSO) | 11.688 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 14.507 | |
| Cash Conversion Cycle Days QoQ | -1.954 % | |
| Cash Conversion Cycle Days YoY | -7.603 % | |
| Cash Conversion Cycle Days IPRWA | high: 94.279 mean: 23.094 median: 14.688 CVI: 14.507 low: -25.082 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 2.689 | |
| CapEx To Revenue | -0.022 | |
| CapEx To Depreciation | -0.384 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.6 B | |
| Net Invested Capital | $ 2.6 B | |
| Invested Capital | $ 2.6 B | |
| Net Tangible Assets | $ 840.0 M | |
| Net Working Capital | $ 723.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.887 | |
| Current Ratio | 1.958 | |
| Current Ratio QoQ | 67.494 % | |
| Current Ratio YoY | 46.682 % | |
| Current Ratio IPRWA | high: 3.114 median: 3.114 mean: 2.49 CVI: 1.958 low: 0.045 |
|
| Quick Ratio | 1.283 | |
| Quick Ratio QoQ | 71.944 % | |
| Quick Ratio YoY | 48.794 % | |
| Quick Ratio IPRWA | high: 2.501 median: 2.501 mean: 1.918 CVI: 1.283 low: 0.031 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 2.966 | |
| Cost Of Debt | 1.099 % | |
| Interest Coverage Ratio | 20.56 | |
| Interest Coverage Ratio QoQ | -704.706 % | |
| Interest Coverage Ratio YoY | -436.436 % | |
| Interest Coverage Ratio IPRWA | CVI: 20.56 high: 6.075 mean: 2.418 median: 2.13 low: -0.997 |
|
| Operating Cash Flow Ratio | 0.592 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 22.426 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.201 % | |
| Revenue Growth | 10.392 % | |
| Revenue Growth QoQ | 48.733 % | |
| Revenue Growth YoY | -252.554 % | |
| Revenue Growth IPRWA | high: 13.297 % median: 11.911 % CVI: 10.392 % mean: 7.896 % low: -18.954 % |
|
| Earnings Growth | -273.913 % | |
| Earnings Growth QoQ | 237.547 % | |
| Earnings Growth YoY | -58.217 % | |
| Earnings Growth IPRWA | high: 414.286 % median: 5.505 % mean: -41.817 % CVI: -273.913 % low: -400.0 % |
|
| MARGINS | ||
| Gross Margin | 28.704 % | |
| Gross Margin QoQ | -843.434 % | |
| Gross Margin YoY | -820.663 % | |
| Gross Margin IPRWA | high: 47.823 % CVI: 28.704 % mean: 14.635 % median: 8.074 % low: -0.098 % |
|
| EBIT Margin | 26.44 % | |
| EBIT Margin QoQ | -556.492 % | |
| EBIT Margin YoY | -540.593 % | |
| EBIT Margin IPRWA | high: 30.204 % CVI: 26.44 % mean: 6.756 % median: 4.625 % low: -20.024 % |
|
| Return On Sales (ROS) | 26.543 % | |
| Return On Sales QoQ | -549.424 % | |
| Return On Sales YoY | -542.31 % | |
| Return On Sales IPRWA | high: 30.547 % CVI: 26.543 % mean: 5.99 % median: 4.227 % low: -17.532 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 120.0 M | |
| Free Cash Flow Yield | 3.606 % | |
| Free Cash Flow Yield QoQ | -851.25 % | |
| Free Cash Flow Yield YoY | 638.934 % | |
| Free Cash Flow Yield IPRWA | high: 5.183 % CVI: 3.606 % median: 3.496 % mean: 2.435 % low: -6.085 % |
|
| Free Cash Growth | -1023.077 % | |
| Free Cash Growth QoQ | 971.262 % | |
| Free Cash Growth YoY | -1123.077 % | |
| Free Cash Growth IPRWA | high: 193.976 % median: 193.976 % mean: 65.97 % low: -432.653 % CVI: -1023.077 % |
|
| Free Cash To Net Income | 0.321 | |
| Cash Flow Margin | 22.994 % | |
| Cash Flow To Earnings | 1.195 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 9.378 % | |
| Return On Assets QoQ | -438.678 % | |
| Return On Assets YoY | -397.998 % | |
| Return On Assets IPRWA | CVI: 9.378 % high: 1.243 % median: 0.824 % mean: 0.593 % low: -2.344 % |
|
| Return On Capital Employed (ROCE) | 15.879 % | |
| Return On Equity (ROE) | 0.445 | |
| Return On Equity QoQ | -281.998 % | |
| Return On Equity YoY | -342.373 % | |
| Return On Equity IPRWA | CVI: 0.445 high: 0.078 median: 0.024 mean: 0.018 low: -0.075 |
|
| DuPont ROE | 57.275 % | |
| Return On Invested Capital (ROIC) | 15.966 % | |
| Return On Invested Capital QoQ | -620.404 % | |
| Return On Invested Capital YoY | -19.974 % | |
| Return On Invested Capital IPRWA | high: 16.003 % CVI: 15.966 % mean: 3.177 % median: 1.72 % low: -19.245 % |
|