Recent News
Jan 5, 2026 — CVR Energy completed a $75 million principal payment on its term loan and published a preliminary 2026 capital spending plan of $200–$240 million. Jan 28, 2026 — the company halted renewable diesel production at the Wynnewood, Oklahoma refinery, citing economic and operational challenges. Jan 29, 2026 — CVR disclosed a contemplated private offering of up to $1.0 billion in senior unsecured notes; company materials and an investor presentation appeared in late January.
Technical Analysis
Directional indicators show strength emerging: ADX at 20.89 signals an emerging trend while DI+ increased to 25.76 and DI- fell to 25.63, a combination that favors upside bias and supports near-term price effort relative to the current valuation.
MACD sits at -0.02 and has turned higher, trading above the signal line at -0.51; that bullish MACD cross signals improving momentum and aligns with recent short-term moving-average behavior.
MRO registers 7.31 and moved higher, indicating price sits above the calculated target and therefore carries greater risk of mean reversion despite recent momentum.
RSI at 44.78 has risen from lower levels, showing warming buying interest without overbought stress; momentum gains remain constructive but not extended.
Price trades above the 12/26-day EMAs and the 20/50-day averages (price close $26.45 vs. 20-day avg $23.09 and 50-day avg $23.88) while remaining below the 200-day average ($29.15), creating a short-term bullish posture inside a longer-term lag.
Bollinger bands sit roughly $19.43–$26.74 for the 2x band and $21.26–$24.92 for the 1x band; the current close near the upper 1x band shows price strength but leaves room for volatility-driven pullbacks. Ichimoku components place price near the short-term cloud boundary, offering mixed support for continuation.
Volume currently lags the 10-day average, reducing conviction behind the most recent advances and increasing sensitivity to headline-driven moves tied to financing or operational updates.
Fundamental Analysis
Profitability shows material stress: EBIT of -$94.0M and operating income of -$99.0M produced an EBIT margin of -5.19%, down QoQ by -119.64% and down YoY by -306.32%. EBITDA remained positive at $51.0M, but high depreciation ($145.0M) flipped operating profit negative and pressured net income of -$110.0M.
EPS came in at -$0.80 versus an estimate of -$0.83, producing an EPS surprise of +3.61%, a small beat that provides limited support for sentiment given the loss per share.
Leverage remains elevated: debt-to-equity at 243.97% sits meaningfully above the industry peer mean of 171.61%, while debt-to-assets at 48.06% sits slightly below the industry peer mean of 49.60%. Net debt totals about $1.199B against $511.0M in cash and short-term investments, leaving liquidity present but refinancing risk visible given recent note activity.
Cash flow trends weigh on valuation: operating cash flow reported $68.0M but free cash flow totaled -$56.0M, producing a free cash flow yield of -2.09%. The company reduced term loan principal and outlined capex guidance ($200M–$240M), actions that lower leverage but sustain near-term cash outlays.
Efficiency and working-capital metrics show mixed performance. Asset turnover at 0.470 (above the industry peer mean of 0.3657) suggests relatively effective asset use; receivables turnover at 7.42 remains stronger than the industry peer mean of 5.71. Cash conversion cycle of 16.55 days sits modestly above the industry peer mean of 13.32 days.
Valuation summary: enterprise multiple reads 77.40 and market indicators point to an elevated price relative to fundamentals. The current valuation as determined by WMDST values the stock as over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-18 |
| NEXT REPORT DATE: | 2026-05-20 |
| CASH FLOW | Begin Period Cash Flow | $ 670.0 M |
| Operating Cash Flow | $ 68.0 M | |
| Capital Expenditures | $ -56.00 M | |
| Change In Working Capital | $ -24.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -159.00 M | |
| End Period Cash Flow | $ 511.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.8 B | |
| Forward Revenue | $ -105.37 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.9 B | |
| Depreciation | $ 145.0 M | |
| Depreciation and Amortization | $ 145.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 1.9 B | |
| PROFITABILITY | ||
| Gross Profit | $ -59.00 M | |
| EBITDA | $ 51.0 M | |
| EBIT | $ -94.00 M | |
| Operating Income | $ -99.00 M | |
| Interest Income | — | |
| Interest Expense | $ 29.0 M | |
| Net Interest Income | $ -29.00 M | |
| Income Before Tax | $ -123.00 M | |
| Tax Provision | $ -7.00 M | |
| Tax Rate | 5.691 % | |
| Net Income | $ -110.00 M | |
| Net Income From Continuing Operations | $ -116.00 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.83 | |
| EPS Actual | $ -0.80 | |
| EPS Difference | $ 0.03 | |
| EPS Surprise | 3.614 % | |
| Forward EPS | $ 0.25 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.7 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 730.0 M | |
| Total Current Assets | $ 1.3 B | |
| Cash and Short-Term Investments | $ 511.0 M | |
| Cash | $ 511.0 M | |
| Net Receivables | $ 235.0 M | |
| Inventory | $ 472.0 M | |
| Long-Term Investments | $ 389.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 415.0 M | |
| Short-Term Debt | $ 14.0 M | |
| Total Current Liabilities | $ 706.0 M | |
| Net Debt | $ 1.2 B | |
| Total Debt | $ 1.8 B | |
| Total Liabilities | $ 2.8 B | |
| EQUITY | ||
| Total Equity | $ 730.0 M | |
| Retained Earnings | $ -777.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 7.26 | |
| Shares Outstanding | 100.531 M | |
| Revenue Per-Share | $ 18.00 | |
| VALUATION | Market Capitalization | $ 2.7 B |
| Enterprise Value | $ 3.9 B | |
| Enterprise Multiple | 77.401 | |
| Enterprise Multiple QoQ | 973.26 % | |
| Enterprise Multiple YoY | 852.251 % | |
| Enterprise Multiple IPRWA | CVI: 77.401 high: 69.435 median: 46.587 mean: 42.586 low: -32.323 |
|
| EV/R | 2.181 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 5.077 | |
| Asset To Liability | 1.32 | |
| Debt To Capital | 0.709 | |
| Debt To Assets | 0.481 | |
| Debt To Assets QoQ | 3.308 % | |
| Debt To Assets YoY | 17002.135 % | |
| Debt To Assets IPRWA | high: 0.524 median: 0.524 mean: 0.496 CVI: 0.481 low: 0.289 |
|
| Debt To Equity | 2.44 | |
| Debt To Equity QoQ | 10.36 % | |
| Debt To Equity YoY | 14192.501 % | |
| Debt To Equity IPRWA | CVI: 2.44 high: 1.855 median: 1.855 mean: 1.716 low: 0.595 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.668 | |
| Price To Book QoQ | -7.413 % | |
| Price To Book YoY | 30.568 % | |
| Price To Book IPRWA | CVI: 3.668 high: 1.293 median: 1.293 mean: 1.261 low: 0.968 |
|
| Price To Earnings (P/E) | -33.291 | |
| Price To Earnings QoQ | -140.231 % | |
| Price To Earnings YoY | -77.968 % | |
| Price To Earnings IPRWA | high: 610.731 median: 610.731 mean: 538.191 CVI: -33.291 low: -70.286 |
|
| PE/G Ratio | 0.111 | |
| Price To Sales (P/S) | 1.479 | |
| Price To Sales QoQ | -13.581 % | |
| Price To Sales YoY | 45.844 % | |
| Price To Sales IPRWA | high: 1.729 CVI: 1.479 mean: 1.229 median: 1.204 low: 0.738 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 125.977 | |
| Forward PE/G | -0.42 | |
| Forward P/S | -25.409 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 17.161 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.47 | |
| Asset Turnover Ratio QoQ | -3.531 % | |
| Asset Turnover Ratio YoY | -1.687 % | |
| Asset Turnover Ratio IPRWA | high: 0.542 CVI: 0.47 median: 0.372 mean: 0.366 low: 0.258 |
|
| Receivables Turnover | 7.418 | |
| Receivables Turnover Ratio QoQ | -4.985 % | |
| Receivables Turnover Ratio YoY | 9.727 % | |
| Receivables Turnover Ratio IPRWA | CVI: 7.418 high: 5.931 median: 5.931 mean: 5.709 low: 3.591 |
|
| Inventory Turnover | 3.81 | |
| Inventory Turnover Ratio QoQ | 39.11 % | |
| Inventory Turnover Ratio YoY | 0.751 % | |
| Inventory Turnover Ratio IPRWA | high: 6.227 median: 4.478 mean: 4.294 CVI: 3.81 low: 1.863 |
|
| Days Sales Outstanding (DSO) | 12.301 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 16.548 | |
| Cash Conversion Cycle Days QoQ | 14.068 % | |
| Cash Conversion Cycle Days YoY | 23.032 % | |
| Cash Conversion Cycle Days IPRWA | high: 37.832 CVI: 16.548 mean: 13.322 low: 10.44 median: 10.44 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 3.226 | |
| CapEx To Revenue | -0.031 | |
| CapEx To Depreciation | -0.386 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.4 B | |
| Net Invested Capital | $ 2.4 B | |
| Invested Capital | $ 2.4 B | |
| Net Tangible Assets | $ 730.0 M | |
| Net Working Capital | $ 561.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.724 | |
| Current Ratio | 1.795 | |
| Current Ratio QoQ | -8.326 % | |
| Current Ratio YoY | 8.032 % | |
| Current Ratio IPRWA | high: 2.109 CVI: 1.795 mean: 1.424 median: 1.38 low: 0.735 |
|
| Quick Ratio | 1.126 | |
| Quick Ratio QoQ | -12.262 % | |
| Quick Ratio YoY | -6.474 % | |
| Quick Ratio IPRWA | high: 1.243 CVI: 1.126 mean: 0.823 median: 0.784 low: 0.578 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 34.922 | |
| Cost Of Debt | 1.504 % | |
| Interest Coverage Ratio | -3.241 | |
| Interest Coverage Ratio QoQ | -115.765 % | |
| Interest Coverage Ratio YoY | -238.916 % | |
| Interest Coverage Ratio IPRWA | high: 14.134 median: 1.894 mean: 1.427 CVI: -3.241 low: -10.404 |
|
| Operating Cash Flow Ratio | 0.096 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 28.047 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.164 % | |
| Revenue Growth | -6.893 % | |
| Revenue Growth QoQ | -166.33 % | |
| Revenue Growth YoY | -210.838 % | |
| Revenue Growth IPRWA | high: 117.712 % median: 42.573 % mean: 39.111 % CVI: -6.893 % low: -15.662 % |
|
| Earnings Growth | -300.0 % | |
| Earnings Growth QoQ | 9.524 % | |
| Earnings Growth YoY | 305.405 % | |
| Earnings Growth IPRWA | high: 112.5 % mean: -75.899 % median: -85.938 % low: -130.556 % CVI: -300.0 % |
|
| MARGINS | ||
| Gross Margin | -3.26 % | |
| Gross Margin QoQ | -111.357 % | |
| Gross Margin YoY | -213.352 % | |
| Gross Margin IPRWA | high: 32.69 % mean: 9.443 % low: 8.198 % median: 8.198 % CVI: -3.26 % |
|
| EBIT Margin | -5.193 % | |
| EBIT Margin QoQ | -119.641 % | |
| EBIT Margin YoY | -306.317 % | |
| EBIT Margin IPRWA | high: 10.009 % median: 3.523 % mean: 2.107 % CVI: -5.193 % low: -20.367 % |
|
| Return On Sales (ROS) | -5.47 % | |
| Return On Sales QoQ | -120.608 % | |
| Return On Sales YoY | -317.322 % | |
| Return On Sales IPRWA | high: 10.896 % median: 2.023 % mean: 1.908 % low: -1.562 % CVI: -5.47 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -56.00 M | |
| Free Cash Flow Yield | -2.092 % | |
| Free Cash Flow Yield QoQ | -158.014 % | |
| Free Cash Flow Yield YoY | -214.756 % | |
| Free Cash Flow Yield IPRWA | high: 8.36 % median: 2.25 % mean: 2.206 % CVI: -2.092 % low: -15.008 % |
|
| Free Cash Growth | -146.667 % | |
| Free Cash Growth QoQ | -85.664 % | |
| Free Cash Growth YoY | -173.333 % | |
| Free Cash Growth IPRWA | high: 73.405 % median: -4.508 % mean: -38.763 % CVI: -146.667 % low: -707.133 % |
|
| Free Cash To Net Income | 0.509 | |
| Cash Flow Margin | 3.757 % | |
| Cash Flow To Earnings | -0.618 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | -2.858 % | |
| Return On Assets QoQ | -130.476 % | |
| Return On Assets YoY | -501.404 % | |
| Return On Assets IPRWA | high: 3.001 % median: -0.489 % mean: -0.519 % CVI: -2.858 % low: -4.6 % |
|
| Return On Capital Employed (ROCE) | -3.133 % | |
| Return On Equity (ROE) | -0.151 | |
| Return On Equity QoQ | -133.842 % | |
| Return On Equity YoY | -465.285 % | |
| Return On Equity IPRWA | high: 0.093 median: -0.014 mean: -0.016 low: -0.143 CVI: -0.151 |
|
| DuPont ROE | -14.012 % | |
| Return On Invested Capital (ROIC) | -3.633 % | |
| Return On Invested Capital QoQ | -122.755 % | |
| Return On Invested Capital YoY | -8.489 % | |
| Return On Invested Capital IPRWA | high: 6.931 % median: 0.961 % mean: 0.681 % CVI: -3.633 % low: -6.081 % |
|