CF Industries Holdings, Inc. Financial Ratios — CF Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	73.07	58.66	40.75	40.27	22.44	-10.21	14.88	11.81	22.28	16.3	45.63	112.3	36.28	28.5	36.9
Return on Assets (%)	17.36	19.32	14.05	12.68	5.85	-1.99	2.5	2.22	3.97	2.62	7.52	26.05	11.02	8.75	10.56
Return on Capital (%)	32.41	35.8	23.6	18.94	8.65	- -	- -	3.27	5.59	4.22	8.21	32.53	13.09	10.6	12.1
Return on Invested Capital (%)	27.1	26.11	19.36	11.6	8.64	- -	- -	5.18	7.7	5.66	18.2	41.28	16.22	12.77	17.14
Gross Margin (%)	47.49	51	46.03	37.49	35.91	22.88	10.51	20.7	25.58	19.42	36.51	52.4	38.38	34.64	38.45
EBITDA Margin (%)	52.18	55.04	50.3	41.94	41.78	34.36	27.05	36.35	39.41	36.13	46.99	57.4	47.07	44.41	46.2
Operating Margin (%)	45.35	48.16	42.8	33.65	30.64	15.96	5.67	16.3	20.35	14.5	33.4	49.8	33.96	28.82	33.53
Incremental Operating Margin (%)	79.34	2,852.46	94.74	102.15	63.45	117.5	-79.55	163.21	131.68	72.1	65.7	72.87	72.86	77.84	57.84
Pretax Margin (%)	43.39	46.35	40.36	46.11	24.56	-6.13	-3.03	12.35	16.82	11.23	23.6	45.55	33.9	29.68	31.61
Profit Margin (%)	25.24	30.29	26.75	29.31	16.25	-7.52	8.67	6.55	10.74	7.69	14.03	29.91	23	20.52	20.54
Net Income to Common Margin (%)	25.24	30.29	26.75	29.31	16.25	-7.52	8.67	6.55	10.74	7.69	14.03	29.91	23	20.52	20.54
Effective Tax Rate (%)	35.02	34.08	31.07	35.35	37.43	- -	- -	21.76	16.32	6.7	18.34	22.73	18.24	16.17	19.7
Dvd Payout Ratio (%)	3.46	5.14	8.06	17.25	36.72	-717.95	51.66	49.47	33.17	47.17	16.22	6.76	14.46	20.97	15.23
Sustainable Growth Rate (%)	70.53	55.64	37.47	33.32	14.2	-83.5	7.19	5.97	14.89	8.61	38.23	104.71	31.04	22.52	31.28

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	1,618	1,605	3,098	4,592	5,537	5,778	4,692	4,698	4,240	4,223	3,716	3,225	3,232	3,246	3,636
ST Debt	- -	5	- -	- -	- -	- -	- -	- -	90	337	89	93	96	86	110
LT Debt	1,618	1,600	3,098	4,592	5,537	5,778	4,692	4,698	4,150	3,886	3,627	3,132	3,136	3,160	3,526
Total Debt/EBITDA	0.51	0.48	1.12	2.31	3.08	4.56	4.2	2.92	2.34	2.83	1.21	0.5	1.04	1.23	1.11
Net Debt/EBITDA	0.13	-0.2	0.5	1.31	2.92	3.64	3.45	2.49	2.03	2.2	0.6	0.1	0.3	0.51	0.38
Total Debt/EBIT	0.58	0.55	1.32	2.88	4.19	9.83	20.05	6.51	4.54	7.06	1.7	0.58	1.44	1.9	1.53
Net Debt/EBIT	0.15	-0.23	0.59	1.63	3.98	7.85	16.48	5.56	3.93	5.48	0.84	0.12	0.42	0.79	0.52
EBITDA to Interest Expense	29.76	32.55	20.13	11.91	15.52	8.98	3.74	7.06	8.08	8.05	17.55	19.11	21.67	18.96	22.57
EBITDA-CapEx/Interest Expense	27.45	27.48	14.11	1.08	-5.77	-6.7	2.15	5.21	6.27	6.38	14.56	17.74	9.7	15.22	16.01
EBIT to Interest Expense	25.87	28.48	17.13	9.56	11.38	4.17	0.78	3.17	4.17	3.23	12.48	16.58	15.64	12.31	16.38
Interest Expense	107	103	137	167	116	141	299	228	224	185	175	336	144	139	145
Common Equity/Total Assets	31.66	34.05	34.9	28.24	24.13	15.64	18.16	19.47	16.1	16.04	16.89	29.06	31.56	29.79	27.51
Long-Term Debt/Equity (%)	32.8	25.47	56.97	100.44	126.21	89	70.2	81.98	73.62	69.36	60.09	39.88	37.45	41.62	45.35
Long-Term Debt/Capital (%)	33.39	29.38	43.11	56.47	61.87	51.18	45.81	47.28	46.42	43.99	42	31.65	30.08	32.04	33.74
Long-Term Debt/Total Assets (%)	18.03	15.74	29.01	40.81	43.66	38.19	34.85	37.11	34.09	32.32	29.31	23.53	21.81	23.47	25.03
Total Debt/Equity (%)	32.8	25.55	56.97	100.44	126.21	89	70.2	81.98	75.22	75.37	61.56	41.07	38.6	42.76	46.77
Total Debt/Capital (%)	33.39	29.47	43.11	56.47	61.87	51.18	45.81	47.28	47.43	47.81	43.03	32.59	31	32.91	34.8
Total Debt/Total Assets (%)	18.03	15.79	29.01	40.81	43.66	38.19	34.85	37.11	34.83	35.12	30.03	24.22	22.48	24.11	25.81
Net Debt to Equity	8.33	-10.66	25.51	56.77	119.69	71.07	57.7	70.08	65.11	58.5	30.43	8.18	11.18	17.87	15.86
Net Debt/Capital (%)	11.29	-21.12	25.34	42.3	60.61	45.57	41	43.4	42.41	40.22	26.21	8.48	11.15	16.45	14.56
EBITDA	3,182	3,359	2,754	1,989	1,800	1,266	1,117	1,610	1,809	1,490	3,072	6,421	3,121	2,636	3,273
EBITDA-CapEx	2,935	2,836	1,930	180	-669	-945	644	1,188	1,405	1,181	2,548	5,959	1,397	2,115	2,322
Operating Income (Loss)	2,766	2,940	2,343	1,596	1,320	588	234	722	934	598	2,184	5,571	2,252	1,711	2,375

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	1.17	2.39	2.07	2.04	0.24	1.7	1.44	0.97	0.43	0.75	1.14	2.33	2.54	1.97	2.23
Current Ratio	1.74	2.95	3.18	2.58	0.93	3.87	2.53	1.81	1.46	1.51	1.81	3.69	3.81	3.08	3.37
Quick Ratio	1.43	2.62	2.34	2.23	0.46	2.04	1.97	1.3	0.8	1.05	1.48	2.92	3.17	2.47	2.78
CFO/Avg Current Liab	2.1	2.4	1.65	1.57	1.1	0.65	2.58	2.33	2.2	1.57	2.46	3.18	3.07	2.81	3.23
Common Equity/Total Assets	31.66	34.05	34.9	28.24	24.13	15.64	18.16	19.47	16.1	16.04	16.89	29.06	31.56	29.79	27.51
Long-Term Debt/Equity (%)	32.8	25.47	56.97	100.44	126.21	89	70.2	81.98	73.62	69.36	60.09	39.88	37.45	41.62	45.35
Long-Term Debt/Capital (%)	33.39	29.38	43.11	56.47	61.87	51.18	45.81	47.28	46.42	43.99	42	31.65	30.08	32.04	33.74
Long-Term Debt/Total Assets (%)	18.03	15.74	29.01	40.81	43.66	38.19	34.85	37.11	34.09	32.32	29.31	23.53	21.81	23.47	25.03
Total Debt/Equity (%)	32.8	25.55	56.97	100.44	126.21	89	70.2	81.98	75.22	75.37	61.56	41.07	38.6	42.76	46.77
Total Debt/Capital (%)	33.39	29.47	43.11	56.47	61.87	51.18	45.81	47.28	47.43	47.81	43.03	32.59	31	32.91	34.8
Total Debt/Total Assets (%)	18.03	15.79	29.01	40.81	43.66	38.19	34.85	37.11	34.83	35.12	30.03	24.22	22.48	24.11	25.81
CFO/Total Liabilities	51.44	61.15	27.99	21.27	14.55	7.14	24.06	21.6	23.03	19.17	45.32	70.6	45.93	38.66	43.59
CFO/CapEx	8.41	4.54	1.78	0.79	0.49	0.28	3.45	3.55	3.73	3.98	5.48	8.34	1.6	4.36	2.89
Altman's Z-Score	4.02	4.31	3.57	2.73	1.8	1.3	1.59	1.83	1.97	1.69	3.12	5.23	3.54	3.41	3.25

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	24.11	25.43	24.99	23.1	21.77	16.86	15.76	16.94	20.18	17.01	18.16	22.24	13.25	14.18	17.24
Days Sales Outstanding	15.14	14.35	14.61	15.8	16.76	21.64	23.15	21.55	18.09	21.46	20.1	16.41	27.55	25.73	21.18
Inventory Turnover	11.15	10.28	10.7	12.43	10.54	8.61	12.04	12.03	10.35	10.42	11.95	12.07	10.57	12.66	12.51
Days Inventory Outstanding	32.74	35.52	34.11	29.37	34.63	42.38	30.32	30.35	35.26	35.04	30.56	30.23	34.53	28.83	29.17
Accounts Payable Turnover	7.59	27.35	20.61	24.65	35.37	32.13	40.36	35.46	38.64	39.99	43.82	62.32	44.19	32.59	32.45
Accounts Payable Turnover Days	48.06	13.35	17.71	14.81	10.32	11.36	9.04	10.29	9.45	9.13	8.33	5.86	8.26	11.2	11.25
Cash Conversion Cycle	-0.18	36.53	31.01	30.37	41.07	52.67	44.43	41.6	43.9	47.37	42.32	40.78	53.82	43.37	39.1
Inventory to Cash Days	-17.6	-21.17	-19.5	-13.57	-17.87	-20.74	-7.16	-8.8	-17.17	-13.58	-10.46	-13.82	-6.98	-3.1	-8
Inventories	304	278	274	203	321	339	275	309	351	287	408	474	299	314	383
Raw Materials	59	66	23	23	35	60	42	37	40	41	50	37	43	51	51
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	245	212	251	180	286	279	233	272	311	246	358	437	256	263	332
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	7,294	9,492	10,143	10,522	7,398	5,918	8,315	8,709	9,292	7,640	14,306	16,543	14,983	15,392	12,537
- Cash & Cash Equivalents	1,207	2,275	1,711	1,997	286	1,164	835	682	287	683	1,628	2,323	2,032	1,614	1,982
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	386	380	362	363	352	3,144	3,105	2,773	2,740	2,681	2,830	2,802	2,656	2,607	2,937
+ Total Debt	1,618	1,605	3,098	4,592	5,537	5,778	4,692	4,698	4,240	4,223	3,716	3,225	3,232	3,246	3,636
Enterprise Value	8,091	9,202	11,892	13,480	13,001	13,676	15,277	15,498	15,985	13,861	19,224	20,247	18,839	19,631	17,128
Total Capital	4,845	5,447	7,187	8,133	8,949	11,289	10,242	9,936	8,940	8,833	8,636	9,896	10,425	9,864	10,449
Total Debt/Capital (%)	33.39	29.47	43.11	56.47	61.87	51.18	45.81	47.28	47.43	47.81	43.03	32.59	31	32.91	34.8
Total Debt / EV	0.2	0.17	0.26	0.34	0.43	0.42	0.31	0.3	0.27	0.3	0.19	0.16	0.17	0.17	0.21
EV/Sales	1.33	1.51	2.17	2.84	3.02	3.71	3.7	3.5	3.48	3.36	2.94	1.81	2.84	3.31	2.42
EV/EBITDA	2.54	2.74	4.32	6.78	7.22	10.8	13.68	9.63	8.84	9.3	6.26	3.15	6.04	7.45	5.23
EV/EBIT	2.93	3.13	5.07	8.45	9.85	23.26	65.29	21.46	17.12	23.18	8.8	3.63	8.37	11.47	7.21
EV/Cash Flow to Firm	3.77	3.77	7.62	8.82	10.16	19.11	27.55	9.25	9.45	9.88	6.37	4.92	6.55	8.22	5.97
EV/Free Cash Flow to Firm	3.38	3.1	4.99	4.04	3.47	4.67	14.87	7.39	7.63	8.09	5.43	4.42	4.1	6.75	4.48
Diluted Market Cap	7,357	9,611	10,194	10,542	7,423	5,918	8,329	8,753	9,352	7,650	14,386	16,616	15,021	15,417	12,545
Diluted Enterprise Value	8,154	9,321	11,944	13,501	13,026	13,676	15,291	15,542	16,045	13,871	19,304	20,320	18,877	19,656	17,136
EV per Share	23.32	28.8	40.38	52.66	55.25	58.67	65.43	66.63	72.6	64.5	89.41	99.59	97.46	108.82	105.66
TTM Sales	6,098	6,104	5,475	4,743	4,308	3,685	4,130	4,429	4,590	4,124	6,538	11,186	6,631	5,936	7,084
TTM EBITDA	3,182	3,359	2,754	1,989	1,800	1,266	1,117	1,610	1,809	1,490	3,072	6,421	3,121	2,636	3,273
TTM Operating Income	2,766	2,940	2,343	1,596	1,320	588	234	722	934	598	2,184	5,571	2,252	1,711	2,375
TTM Cash Flow to Firm	2,148	2,444	1,561	1,529	1,280	716	555	1,675	1,692	1,404	3,016	4,115	2,875	2,388	2,868
TTM Free Cash Flow to Firm	2,396	2,967	2,385	3,338	3,749	2,927	1,028	2,097	2,096	1,713	3,540	4,577	4,599	2,909	3,819

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	3.16	3.32	4.45	3.26	2.02	2.09	3.96	4.56	4.9	4.97	4.23	3.85	3.35	5.52	3.39
EV/EBIT	2.93	3.13	5.07	8.45	9.85	23.26	65.29	21.46	17.12	23.18	8.8	3.63	8.37	11.47	7.21
Enterprise Value	8,091	9,202	11,892	13,480	13,001	13,676	15,277	15,498	15,985	13,861	19,224	20,247	18,839	19,631	17,128
Low Price	23.07	29.92	33.87	44.02	39.64	20.77	25.04	35.7	38.9	19.73	38.06	63.1	60.08	69.13	67.34
EV/Sales	1.33	1.51	2.17	2.84	3.02	3.71	3.7	3.5	3.48	3.36	2.94	1.81	2.84	3.31	2.42
EV/EBITDA	2.54	2.74	4.32	6.78	7.22	10.8	13.68	9.63	8.84	9.3	6.26	3.15	6.04	7.45	5.23
Price/Earnings	4.74	5.13	6.93	7.57	10.57	- -	23.23	30.03	18.85	24.1	15.6	4.94	9.82	12.64	8.62
Price/Earnings Average	4.79	4.86	5.96	6.91	14.43	-18.8	17.28	30.11	17.67	19.9	11.29	5.43	9.48	11.76	9.48
Price/Earnings High	8.69	7.88	9.63	10.69	23.64	-34.46	28.32	45.32	24.63	32.67	17.53	7.27	11.56	13.99	11.64
Price/Earnings Low	5.2	5.17	6.81	8.11	13.32	-17.48	16.33	28.63	17.37	13.38	8.92	3.83	7.62	10.24	7.5
Price/Book Value	2.57	2.74	2.72	3.31	2.42	2.5	3.4	3.53	4.74	3.96	6.85	4.28	3.3	3.84	3.23
Price/Book Value Average	2.6	2.59	2.34	3.02	3.3	2.2	2.53	3.54	4.44	3.27	4.95	4.7	3.19	3.57	3.56
Price/Book Value High	4.71	4.21	3.78	4.68	5.41	4.03	4.15	5.33	6.2	5.37	7.69	6.28	3.89	4.25	4.37
Price/Book Value Low	2.82	2.76	2.68	3.55	3.05	2.05	2.39	3.37	4.37	2.2	3.92	3.32	2.56	3.11	2.82
Price/Tangible Book Value	2.59	2.28	3.08	4.32	4.02	1.47	1.99	2.67	2.94	2.44	3.67	2.88	2.81	3.35	2.61
Price/Tangible Book Value Average	2.62	2.15	2.65	3.94	5.49	1.3	1.48	2.68	2.75	2.02	2.65	3.16	2.71	3.12	2.87
Price/Tangible Book Value High	4.75	3.5	4.28	6.1	8.99	2.38	2.42	4.03	3.84	3.31	4.12	4.23	3.3	3.71	3.52
Price/Tangible Book Value Low	2.84	2.29	3.03	4.62	5.07	1.2	1.4	2.54	2.71	1.36	2.1	2.23	2.17	2.72	2.27
Price/Sales	1.2	1.56	1.85	2.22	1.72	1.61	2.01	1.97	2.02	1.85	2.19	1.48	2.26	2.59	1.77
Price/Sales Average	1.21	1.47	1.6	2.03	2.35	1.41	1.5	1.97	1.9	1.53	1.58	1.63	2.18	2.41	1.95
Price/Sales High	2.19	2.39	2.58	3.13	3.84	2.59	2.45	2.97	2.65	2.51	2.46	2.17	2.66	2.87	2.39
Price/Sales Low	1.31	1.57	1.82	2.38	2.17	1.31	1.42	1.87	1.87	1.03	1.25	1.15	1.75	2.1	1.54
Price/Cash Flow	3.51	4	6.91	7.4	6.13	9.59	5.1	5.82	6.17	6.21	4.98	4.29	5.43	6.78	4.56
Price/Cash Flow Average	3.55	3.78	5.95	6.76	8.37	8.44	3.79	5.83	5.79	5.12	3.6	4.72	5.25	6.31	5.01
Price/Cash Flow High	6.43	6.13	9.61	10.46	13.71	15.47	6.22	8.78	8.07	8.41	5.6	6.31	6.4	7.5	6.15
Price/Cash Flow Low	3.85	4.02	6.8	7.93	7.73	7.85	3.58	5.55	5.69	3.44	2.85	3.33	4.21	5.49	3.97
Price/Free Cash Flow Average	3.2	3.13	3.83	2.98	2.76	1.84	2.94	4.57	4.59	4.1	3.06	4.23	3.24	5.14	3.73
Price/Free Cash Flow High	5.8	5.09	6.19	4.61	4.52	3.38	4.83	6.88	6.4	6.73	4.76	5.66	3.95	6.11	4.58
Price/Free Cash Flow Low	3.47	3.34	4.38	3.5	2.55	1.71	2.78	4.35	4.52	2.76	2.42	2.98	2.6	4.47	2.95
EV/Sales Average	1.34	1.42	1.91	2.65	3.65	3.52	3.18	3.5	3.36	3.04	2.34	1.96	2.76	3.13	2.59
EV/Sales High	2.32	2.34	2.9	3.76	5.14	4.7	4.14	4.5	4.1	4.02	3.21	2.5	3.24	3.58	3.04
EV/Sales Low	1.44	1.52	2.14	3	3.47	3.42	3.1	3.41	3.32	2.54	2	1.48	2.33	2.82	2.19
EV/EBITDA Average	2.57	2.59	3.81	6.32	8.73	10.24	11.77	9.64	8.51	8.41	4.97	3.41	5.87	7.04	5.62
EV/EBITDA High	4.45	4.25	5.76	8.96	12.31	13.67	15.31	12.38	10.41	11.13	6.83	4.36	6.89	8.07	6.58
EV/EBITDA Low	2.77	2.76	4.26	7.15	8.29	9.95	11.47	9.37	8.43	7.02	4.26	2.57	4.96	6.34	4.74
EV/EBIT Average	2.96	2.95	4.47	7.87	11.9	22.05	56.18	21.5	16.49	20.95	6.99	3.93	8.13	10.85	7.74
EV/EBIT High	5.12	4.86	6.76	11.17	16.78	29.43	73.08	27.61	20.17	27.72	9.61	5.03	9.54	12.44	9.06
EV/EBIT Low	3.18	3.15	5	8.91	11.31	21.43	54.74	20.9	16.34	17.49	6	2.97	6.87	9.77	6.53
Last Price	21.02	29.71	34.44	41.1	31.44	25.39	35.61	37.44	42.2	35.55	66.54	81.37	77.51	85.32	77.34
High Price	38.54	45.6	47.88	58.06	70.32	40.95	43.42	56.51	55.15	48.19	74.77	119.6	91.23	94.46	104.45
Enterprise Value Average	8,177	8,686	10,483	12,567	15,707	12,965	13,147	15,520	15,403	12,530	15,272	21,882	18,320	18,558	18,382
Enterprise Value High	14,170	14,279	15,850	17,822	22,149	17,303	17,101	19,933	18,837	16,577	20,994	28,019	21,491	21,280	21,522
Enterprise Value Low	8,802	9,270	11,724	14,228	14,930	12,599	12,809	15,093	15,259	10,461	13,101	16,532	15,469	16,710	15,507

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	327	315	279	242	233	233	233	223	216	214	208	196	188	170	154
Diluted Weighted Avg Shares	350	324	296	256	236	233	234	234	222	215	216	204	194	181	162
Basic Weighted Avg Shares	347	320	294	256	235	233	234	233	220	215	215	203	193	180	162
Revenue per Share	17.57	19.1	18.59	18.53	18.31	15.81	17.69	19.04	20.84	19.19	30.41	55.02	34.3	32.9	43.7
EBITDA per Share	9.17	10.51	9.35	7.77	7.65	5.43	4.78	6.92	8.22	6.93	14.29	31.58	16.15	14.61	20.19
Operating Income per Share	7.97	9.2	7.96	6.23	5.61	2.52	1	3.1	4.24	2.78	10.16	27.4	11.65	9.48	14.65
Basic EPS, GAAP	4.44	5.79	4.97	5.43	2.97	-1.19	1.53	1.25	2.24	1.48	4.27	16.46	7.89	6.75	8.98
Basic EPS from Cont Ops	5.07	6.02	5.2	5.61	3.12	-0.68	1.93	1.84	2.93	2.01	5.86	19.37	9.51	8.19	11.09
Diluted EPS, GAAP	4.4	5.71	4.95	5.42	2.96	-1.19	1.53	1.24	2.22	1.47	4.24	16.39	7.87	6.74	8.97
Diluted EPS from Cont Ops	5.03	5.95	5.18	5.6	3.11	-0.68	1.92	1.83	2.92	2.01	5.83	19.28	9.48	8.17	11.09
Dividend per Share	0.2	0.32	0.44	1	1.2	1.2	1.2	1.2	1.2	1.2	1.21	1.51	1.61	2.02	2.01
Cash Flow per Share	5.99	7.44	4.98	5.55	5.13	2.65	6.99	6.44	6.83	5.73	13.36	18.96	14.26	12.59	16.98
Free Cash Flow per Basic Share	5.28	5.8	2.18	-1.52	-5.36	-6.84	4.96	4.62	5	4.29	10.93	16.69	5.34	9.7	11.11
Cash & Equivalents per Share	3.48	7.12	5.81	7.8	1.22	4.99	3.58	2.93	1.3	3.18	7.57	11.43	10.51	8.95	12.23
Book Value per Share	8.19	10.83	12.65	12.41	13	10.15	10.47	10.6	8.9	8.98	9.72	19.03	23.47	22.23	23.91
Tangible Book Value per Share	8.11	13.05	11.19	9.52	7.82	17.24	17.92	14.03	14.36	14.54	18.14	28.28	27.63	25.46	29.67

CF Industries Holdings, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)