NTRNYSEAgricultural ChemicalsFiscal year ends December 31
Nutrien Ltd.
Financials through fiscal 2024, year ended Dec 31, 2025Last filing: 40-F on Feb 27, 2026
$69.44−1.82 (-2.55%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 14.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2024
Gross margin
31.0%+6.0 pts over 5 years
Operating margin
13.9%+9.6 pts over 5 years
Net margin
8.4%+6.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +3.5% | -10.8% | +5.2% | – | |
| Gross profit | +10.8% | -18.5% | +9.8% | – | |
| Operating income | +101.3% | -29.8% | +32.9% | – | |
| Net income | +236.4% | -33.4% | +37.6% | – | |
| EPS, diluted | +242.6% | -31.0% | +41.9% | – | |
| Free cash flow | +40.7% | -28.7% | +2.3% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 9.1% | |
| Return on assets | – | 1.0% | 4.4% | |
| Current ratio | – | 1.35 | 1.34 | |
| Debt to equity | – | 0.46 | 0.42 | |
| Net debt to EBITDA | – | 3.03× | 1.64× | |
| Interest coverage | – | 1.7× | 5.4× | |
| Inventory turnover | – | 3.2× | 2.8× | |
| Capex to revenue | – | 6.8% | 7.0% | |
| Diluted shares | – | 570M | 487M |
Where the cash went
Fiscal 2020 to 2024, five years combined
Nutrien generated $24.60B from operations and spent $22.92B on capital expenditure, dividends and share buybacks. 45% of that went back into the business.
Generated
$24.60B
Used
$22.92B
Capital expenditure$10.35B45%Dividends$5.23B23%Share buybacks$7.34B32%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.4%
×Asset turnover0.52×
×Equity multiplier2.09×
=Return on equity, FY20249.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 8.4% | 0.52× | 2.09× | 9.1% |
| FY2023 | 2.6% | 0.50× | 2.11× | 2.7% |
| FY2022 | 4.3% | 0.54× | 2.11× | 4.9% |
| FY2021 | 20.2% | 0.72× | 2.11× | 31.0% |
| FY2020 | 11.4% | 0.57× | 2.11× | 13.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
8of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.27B
- Cash generatingOperating cash flow above zero$4.01B
- Return on assets improvedROA up on the prior year1.3% → 4.4%
- Earnings backed by cashOperating cash flow above net income$4.01B vs $2.27B
- Less leverageLong-term debt to assets fell17.1% → 17.9%
- Better liquidityCurrent ratio rose1.15 → 1.34
- No dilutionShare count did not rise494M → 487M
- Gross margin improvedGross margin up on the prior year28.99% → 31.05%
- More efficientAsset turnover rose0.49 → 0.52