Recent News
May 6, 2026 — Icahn Enterprises reported first-quarter results that referenced an increased mark-to-market value of its long position in CVR Energy. June 4, 2026 — CVR Energy conducted its 2026 virtual annual meeting and solicited shareholder votes on board and governance items. Late June 2026 — UBS maintained a price target and adjusted near-term earnings estimates for CVR Energy, reflecting analyst re‑forecasting; company filings also confirm ongoing consideration of strategic transactions by the controlling shareholder.
Technical Analysis
ADX / DI+ / DI-: ADX at 25.94 indicates a strong directional environment. DI- (29.84) exceeds DI+ (16.65), signaling that negative direction still dominates, but DI- shows a peak & reversal while DI+ shows a dip & reversal, which together denote an early directional shift toward bullish participation despite prevailing negative directional readings.
MACD: MACD sits at -1.25 with a dip & reversal trend, which signals returning bullish momentum; MACD remains below the signal line (-1.13) and has not completed a bullish crossover, so momentum improvement remains incomplete.
MRO (Momentum/Regression Oscillator): MRO at -23.87 with a decreasing trend implies the current price sits below WMDST’s target and carries measurable upward potential, though the decreasing MRO cautions that that potential may moderate if momentum weakens further.
RSI: RSI 45.94 with a dip & reversal indicates a recent bounce from oversold impulses; the reading remains below 50, consistent with neutral-to-mild bullish pressure rather than a decisive uptrend.
Price vs. Moving Averages and Bands: Last close $28.65 trades slightly above the 20‑day average ($28.15) and 12‑day EMA ($28.37, dip & reversal) but remains below the 50‑day ($31.76) and 200‑day ($30.73) averages, leaving mid‑term resistance intact. Bollinger bands place the 1x upper at $29.47 and 2x upper at $30.79; the super trend upper near $30.03 marks a nearby technical cap.
Volume & Volatility: Daily volume (876,976) sits below the 10‑, 50‑ and 200‑day averages, indicating muted participation behind the recent bounce. 42‑day and 52‑week volatility remain low at 3% on the provided scale; short‑term beta readings are slightly negative (42‑day -0.26, 52‑week -0.12), reflecting limited correlation with broad market moves.
Fundamental Analysis
Operating Results: CVR reported EBIT of -$131,000,000 and EBITDA of -$52,000,000, producing an EBIT margin of -6.62%. The company recorded a net loss of -$192,000,000. QoQ the EBIT margin improved by 27.40%, while YoY the EBIT margin declined by 15.58%.
Profitability & Cash Flow: Gross margin stands at -5.30% and operating margin at -7.32%, both negative and reflecting refining and fertilizer segment pressure. Operating cash flow totaled $64,000,000 with free cash flow $17,000,000 and a free cash flow yield of 0.57%; free cash flow growth shows contraction YoY. EPS actual reported -$1.24 versus an estimate of -$0.62, an EPS surprise of -100%.
Liquidity & Working Capital: Cash and short‑term investments total $512,000,000 and the current ratio measures 1.44 (quick ratio 0.89). Cash conversion cycle sits at about 14.9 days. Change in working capital provided $30,000,000 of benefit during the period presented.
Leverage & Coverage: Total debt equals $1,801,000,000 with net debt ~$1,218,000,000. Debt‑to‑equity registers 3.35 (334.8%), materially above the industry peer mean and median for debt‑to‑equity; debt‑to‑assets measures 46.65%, slightly below the industry peer mean. Interest coverage stands at -2.26x, signaling negative earnings relative to interest expense and constrained coverage capacity.
Operational Efficiency: Asset turnover registers 0.523x and inventory turnover 4.07x. Receivables turnover sits at 7.02x. Return on assets and return on equity register negative values (ROA -5.08%, ROE -35.69%), though QoQ improvements in return metrics appear pronounced on the provided QoQ factors.
Valuation: Price‑to‑book equals 5.55 while price‑to‑sales equals 1.51; forward P/E sits near 113.9. WMDST values the stock as over‑valued given elevated P/B, a negative trailing P/E, minimal free cash flow yield, and forward multiples that demand materially improved profitability to justify current market pricing.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-29 |
| NEXT REPORT DATE: | 2026-07-29 |
| CASH FLOW | Begin Period Cash Flow | $ 511.0 M |
| Operating Cash Flow | $ 64.0 M | |
| Capital Expenditures | $ -47.00 M | |
| Change In Working Capital | $ -30.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 1.0 M | |
| End Period Cash Flow | $ 512.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.0 B | |
| Forward Revenue | $ -131.61 M | |
| COSTS | ||
| Cost Of Revenue | $ 2.1 B | |
| Depreciation | $ 79.0 M | |
| Depreciation and Amortization | $ 79.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ -105.00 M | |
| EBITDA | $ -52.00 M | |
| EBIT | $ -131.00 M | |
| Operating Income | $ -145.00 M | |
| Interest Income | — | |
| Interest Expense | $ 58.0 M | |
| Net Interest Income | $ -58.00 M | |
| Income Before Tax | $ -189.00 M | |
| Tax Provision | $ -29.00 M | |
| Tax Rate | 15.344 % | |
| Net Income | $ -192.00 M | |
| Net Income From Continuing Operations | $ -160.00 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.62 | |
| EPS Actual | $ -1.24 | |
| EPS Difference | $ -0.62 | |
| EPS Surprise | -100.0 % | |
| Forward EPS | $ 0.51 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.9 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 538.0 M | |
| Total Current Assets | $ 1.5 B | |
| Cash and Short-Term Investments | $ 512.0 M | |
| Cash | $ 512.0 M | |
| Net Receivables | $ 329.0 M | |
| Inventory | $ 553.0 M | |
| Long-Term Investments | $ 364.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 532.0 M | |
| Short-Term Debt | $ 11.0 M | |
| Total Current Liabilities | $ 1.0 B | |
| Net Debt | $ 1.2 B | |
| Total Debt | $ 1.8 B | |
| Total Liabilities | $ 3.1 B | |
| EQUITY | ||
| Total Equity | $ 538.0 M | |
| Retained Earnings | $ -969.00 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 5.35 | |
| Shares Outstanding | 100.531 M | |
| Revenue Per-Share | $ 19.70 | |
| VALUATION | Market Capitalization | $ 3.0 B |
| Enterprise Value | $ 4.3 B | |
| Enterprise Multiple | -82.161 | |
| Enterprise Multiple QoQ | -206.15 % | |
| Enterprise Multiple YoY | 59.863 % | |
| Enterprise Multiple IPRWA | high: 22.866 median: 22.866 mean: 10.964 CVI: -82.161 low: -108.139 |
|
| EV/R | 2.158 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.177 | |
| Asset To Liability | 1.235 | |
| Debt To Capital | 0.77 | |
| Debt To Assets | 0.466 | |
| Debt To Assets QoQ | -2.936 % | |
| Debt To Assets YoY | 2.53 % | |
| Debt To Assets IPRWA | high: 1.497 mean: 0.512 median: 0.509 CVI: 0.466 low: 0.008 |
|
| Debt To Equity | 3.348 | |
| Debt To Equity QoQ | 37.211 % | |
| Debt To Equity YoY | 0.393 % | |
| Debt To Equity IPRWA | CVI: 3.348 high: 1.847 median: 1.847 mean: 1.094 low: -2.235 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 5.545 | |
| Price To Book QoQ | 51.192 % | |
| Price To Book YoY | 69.629 % | |
| Price To Book IPRWA | CVI: 5.545 high: 1.433 median: 1.433 mean: 0.667 low: -2.529 |
|
| Price To Earnings (P/E) | -23.932 | |
| Price To Earnings QoQ | -28.112 % | |
| Price To Earnings YoY | -26.403 % | |
| Price To Earnings IPRWA | high: 36.446 median: 22.283 mean: 12.718 CVI: -23.932 low: -73.938 |
|
| PE/G Ratio | -0.435 | |
| Price To Sales (P/S) | 1.507 | |
| Price To Sales QoQ | 1.859 % | |
| Price To Sales YoY | 30.802 % | |
| Price To Sales IPRWA | high: 3.158 CVI: 1.507 median: 1.119 mean: 1.111 low: 0.157 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 113.921 | |
| Forward PE/G | 2.071 | |
| Forward P/S | -46.843 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.191 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.523 | |
| Asset Turnover Ratio QoQ | 11.285 % | |
| Asset Turnover Ratio YoY | 35.344 % | |
| Asset Turnover Ratio IPRWA | high: 0.738 CVI: 0.523 mean: 0.451 median: 0.365 low: 0.063 |
|
| Receivables Turnover | 7.021 | |
| Receivables Turnover Ratio QoQ | -5.348 % | |
| Receivables Turnover Ratio YoY | 31.169 % | |
| Receivables Turnover Ratio IPRWA | high: 15.455 CVI: 7.021 mean: 5.74 median: 4.574 low: 3.331 |
|
| Inventory Turnover | 4.068 | |
| Inventory Turnover Ratio QoQ | 6.768 % | |
| Inventory Turnover Ratio YoY | 27.149 % | |
| Inventory Turnover Ratio IPRWA | high: 7.64 mean: 4.619 CVI: 4.068 median: 3.927 low: 0.995 |
|
| Days Sales Outstanding (DSO) | 12.996 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 14.9 | |
| Cash Conversion Cycle Days QoQ | -9.955 % | |
| Cash Conversion Cycle Days YoY | -2.828 % | |
| Cash Conversion Cycle Days IPRWA | high: 34.634 CVI: 14.9 mean: 13.278 median: 9.044 low: -19.051 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 4.449 | |
| CapEx To Revenue | -0.024 | |
| CapEx To Depreciation | -0.595 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.3 B | |
| Net Invested Capital | $ 2.3 B | |
| Invested Capital | $ 2.3 B | |
| Net Tangible Assets | $ 538.0 M | |
| Net Working Capital | $ 445.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.504 | |
| Current Ratio | 1.438 | |
| Current Ratio QoQ | -19.848 % | |
| Current Ratio YoY | 9.386 % | |
| Current Ratio IPRWA | high: 4.309 mean: 1.494 CVI: 1.438 median: 1.395 low: 0.088 |
|
| Quick Ratio | 0.894 | |
| Quick Ratio QoQ | -20.644 % | |
| Quick Ratio YoY | 5.318 % | |
| Quick Ratio IPRWA | high: 1.309 mean: 0.994 median: 0.917 CVI: 0.894 low: 0.061 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -34.635 | |
| Cost Of Debt | 2.742 % | |
| Interest Coverage Ratio | -2.259 | |
| Interest Coverage Ratio QoQ | -30.319 % | |
| Interest Coverage Ratio YoY | -56.228 % | |
| Interest Coverage Ratio IPRWA | high: 4.378 median: 4.378 mean: 2.502 CVI: -2.259 low: -5.611 |
|
| Operating Cash Flow Ratio | -0.168 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 23.118 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.182 % | |
| Revenue Growth | 9.392 % | |
| Revenue Growth QoQ | -236.254 % | |
| Revenue Growth YoY | -160.75 % | |
| Revenue Growth IPRWA | high: 42.18 % median: 24.302 % mean: 12.379 % CVI: 9.392 % low: -7.85 % |
|
| Earnings Growth | 55.0 % | |
| Earnings Growth QoQ | -118.333 % | |
| Earnings Growth YoY | -84.111 % | |
| Earnings Growth IPRWA | high: 350.0 % median: 142.857 % mean: 77.837 % CVI: 55.0 % low: -450.0 % |
|
| MARGINS | ||
| Gross Margin | -5.303 % | |
| Gross Margin QoQ | 62.669 % | |
| Gross Margin YoY | -6.142 % | |
| Gross Margin IPRWA | high: 52.892 % median: 13.124 % mean: 11.125 % CVI: -5.303 % low: -8.498 % |
|
| EBIT Margin | -6.616 % | |
| EBIT Margin QoQ | 27.402 % | |
| EBIT Margin YoY | -15.58 % | |
| EBIT Margin IPRWA | high: 20.466 % median: 8.232 % mean: 2.555 % CVI: -6.616 % low: -37.676 % |
|
| Return On Sales (ROS) | -7.323 % | |
| Return On Sales QoQ | 33.876 % | |
| Return On Sales YoY | -6.559 % | |
| Return On Sales IPRWA | high: 16.837 % median: 8.092 % mean: 3.99 % CVI: -7.323 % low: -16.636 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 17.0 M | |
| Free Cash Flow Yield | 0.57 % | |
| Free Cash Flow Yield QoQ | -127.247 % | |
| Free Cash Flow Yield YoY | -103.74 % | |
| Free Cash Flow Yield IPRWA | high: 12.723 % mean: 3.634 % median: 2.131 % CVI: 0.57 % low: -9.916 % |
|
| Free Cash Growth | -130.357 % | |
| Free Cash Growth QoQ | -11.12 % | |
| Free Cash Growth YoY | -85.56 % | |
| Free Cash Growth IPRWA | high: 69.817 % median: 9.442 % mean: -48.693 % CVI: -130.357 % low: -443.068 % |
|
| Free Cash To Net Income | -0.089 | |
| Cash Flow Margin | -8.636 % | |
| Cash Flow To Earnings | 0.891 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -5.075 % | |
| Return On Assets QoQ | 77.572 % | |
| Return On Assets YoY | 75.666 % | |
| Return On Assets IPRWA | high: 7.987 % median: 1.337 % mean: -0.098 % CVI: -5.075 % low: -11.646 % |
|
| Return On Capital Employed (ROCE) | -4.603 % | |
| Return On Equity (ROE) | -0.357 | |
| Return On Equity QoQ | 136.846 % | |
| Return On Equity YoY | 68.284 % | |
| Return On Equity IPRWA | high: 0.304 mean: 0.077 median: 0.047 low: -0.048 CVI: -0.357 |
|
| DuPont ROE | -30.284 % | |
| Return On Invested Capital (ROIC) | -4.89 % | |
| Return On Invested Capital QoQ | 34.6 % | |
| Return On Invested Capital YoY | 36.174 % | |
| Return On Invested Capital IPRWA | high: 16.658 % median: 3.746 % mean: 0.954 % CVI: -4.89 % low: -20.876 % |
|