Nutrien Ltd.
- Open
- 74.74
- Day high
- 75.02
- Day low
- 74.60
- Prev close
- 73.51
- Volume
- 621K
- Mkt cap
- $36.0B
- P/E (TTM)
- 15.3
- EPS (TTM)
- $4.91
- P/B
- 1.4
- P/S
- 1.3
- Yield
- 2.90%
- Per share
- $2.19
Nutrien Ltd. (NTR) is a Basic Materials company listed on NYSE. The stock is up 30% over the past year. Drillr has 2 published research articles covering NTR.
Nutrien Ltd. (NTR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NTR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $2.70 | $2.61 | -3.3% | $10.5B | +0.3% |
| May 7, 2026 | $0.48 | $0.51 | +6.3% | $5.7B | +7.3% |
| Feb 18, 2026 | $0.87 | $0.83 | -4.6% | $5.4B | +6.8% |
| Nov 5, 2025 | $0.93 | $0.97 | +4.3% | $5.9B | +13.2% |
| May 7, 2025 | $0.33 | $0.11 | -66.7% | $5.1B | -0.9% |
| Feb 19, 2025 | $0.37 | $0.31 | -16.2% | $5.1B | -0.1% |
| Feb 21, 2024 | $0.65 | $0.37 | -43.1% | $5.7B | +6.0% |
| Nov 1, 2023 | $0.71 | $0.35 | -50.7% | $5.6B | -0.9% |
| Aug 2, 2023 | $2.83 | $2.53 | -10.6% | $11.7B | +98.6% |
| Feb 15, 2023 | $2.62 | $2.02 | -22.9% | $7.5B | +1.7% |
| Nov 2, 2022 | $3.97 | $2.51 | -36.8% | $8.2B | -4.0% |
| Aug 3, 2022 | $5.76 | $5.85 | +1.6% | $14.5B | -1.2% |
NTR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 11, 2007 | Sherman Jerome Fdirector | Buy | 1,687 | $1.04 |
| Sep 11, 2007 | Sherman Jerome Fdirector | Buy | 313 | $1.04 |
| Sep 4, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 100 | $1.10 |
| Sep 4, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 400 | $1.20 |
| Sep 4, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 500 | $1.10 |
| Aug 30, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 100 | $1.06 |
| Aug 30, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 300 | $1.16 |
| Aug 30, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 400 | $1.10 |
| Aug 30, 2007 | Akre David Adirector, officer: Vice Chairman/Co-CEO | Buy | 500 | $1.11 |
| Jul 30, 2007 | Norcutt Steven Gdirector | Grant | 7,500 | $1.90 |
| Jul 30, 2007 | Pembroke Mary Dwyerdirector | Grant | 7,500 | $1.90 |
| Jul 30, 2007 | Sherman Jerome Fdirector | Grant | 7,500 | $1.90 |
| Jul 30, 2007 | White Thomas Williamdirector | Grant | 7,500 | $1.90 |
| Apr 5, 2007 | Akre David Adirector, officer: Vice Chairman/Co-Chief Exe Ofr | Buy | 700 | $2.38 |
| Apr 5, 2007 | Akre David Adirector, officer: Vice Chairman/Co-Chief Exe Ofr | Buy | 200 | $2.39 |
Source: NTR SEC Form 4 filings, latest Sep 11, 2007. For informational purposes only — not investment advice.
See the full NTR insider & 13F page →NTR research & analysis
Fertilizer Price Surge: CF's 41% Margins Lead MOS and NTR as Trump Probe Looms
Trump's April 11 pledge to curb fertilizer gouging amid Iran tensions highlights producers like CF, MOS, and NTR as winners from sustained price surges, while ADM, DE, and AGCO face margin squeezes from cost-stressed farmers. Backed by FY2025 financials, CF tops conviction with 41% margins and cheap valuation.
CFMOSADMCF, MOS, NTR: Iran Supply Squeeze Drives Fertilizer Prices — Top 3 Ranked by Conviction
Trump's anti-gouging pledge amid Iran tensions spotlights US fertilizer producers' upside from West Asia supply squeezes. CF, MOS, and NTR lead with strong financials and exposure, ranked for conviction amid tightening markets.
CFMOSCTVA
Nutrien Ltd. company profile
Overview
Nutrien Ltd. (TSX:NTR) is a Canadian agricultural inputs company formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium. Headquartered in Saskatoon, Canada, the company has rapidly established itself as the world's largest provider of crop inputs and services, operating across the entire agricultural value chain from fertilizer production to direct-to-grower retail services. The company serves farmers globally through approximately 2,000 retail locations across North America, South America, and Australia, while also operating major fertilizer production facilities that supply potash, nitrogen, phosphate, and sulfate products to agricultural markets worldwide.
Business
Nutrien operates in the agricultural inputs industry, which encompasses the production and distribution of essential materials that farmers need to grow crops effectively. The company's business is organized around four main segments that collectively serve the global food production system. The Retail segment (Nutrien Ag Solutions) represents approximately 35% of total revenue and operates as a comprehensive agricultural services provider. This division distributes crop nutrients (fertilizers), crop protection products (pesticides and herbicides), seeds, and other agricultural merchandise through nearly 2,000 retail locations. Beyond product sales, the retail network provides agronomic services, precision agriculture solutions, and financial services directly to farmers. This segment acts as the critical link between agricultural inputs and end-users, offering everything from soil testing to custom application services. The Potash segment accounts for roughly 15% of revenue and involves mining and processing potassium chloride, a crucial fertilizer that helps plants regulate water usage, activate enzymes, and improve disease resistance. Potash is extracted from underground deposits through solution mining, where water is injected into salt formations to dissolve the potassium, which is then pumped to the surface and processed. Nutrien operates some of the world's lowest-cost potash mines, primarily in Saskatchewan, Canada, giving it significant competitive advantages in this commodity market. The Nitrogen segment represents approximately 20% of revenue and produces ammonia, urea, and other nitrogen-based fertilizers essential for plant protein synthesis and chlorophyll production. Nitrogen fertilizers are manufactured by combining atmospheric nitrogen with hydrogen derived from natural gas through the Haber-Bosch process. This segment benefits from North America's abundant and relatively low-cost natural gas supplies, providing a feedstock advantage over many international competitors. The Phosphate segment contributes about 5% of revenue and produces phosphoric acid and various phosphate fertilizers that promote root development and flowering in plants. Phosphate fertilizers are created by treating phosphate rock with sulfuric acid, and this segment has faced some operational challenges in recent years with lower production volumes.
Revenue model
Nutrien generates revenue through multiple complementary business models that capitalize on different aspects of the agricultural value chain. The company primarily makes money through direct product sales of fertilizers and agricultural inputs, with pricing typically following global commodity market dynamics for upstream products and local competitive dynamics for retail services. The upstream fertilizer segments (potash, nitrogen, phosphate) operate on a commodity sales model where products are sold at benchmark prices determined by global supply and demand dynamics. These segments benefit from economies of scale, low-cost production assets, and strategic geographic positioning. Revenue fluctuates significantly based on global agricultural demand, weather patterns, geopolitical events affecting competing suppliers, and input costs like natural gas for nitrogen production. The retail segment employs a more diversified revenue model combining product distribution margins, service fees, and value-added solutions. This segment purchases fertilizers (both from Nutrien's own production and third parties), crop protection products, and seeds, then sells them to farmers with markup margins. Additionally, it generates revenue from agronomic consulting, custom application services, precision agriculture solutions, and financial services. The retail business provides more stable cash flows and higher margins compared to commodity fertilizer production. Several factors significantly impact Nutrien's profitability. Commodity price cycles drive the majority of earnings volatility, with fertilizer prices influenced by global crop prices, weather events, and geopolitical disruptions. Natural gas costs directly affect nitrogen production margins, as gas represents roughly 70% of nitrogen production costs. Global agricultural demand depends on crop prices, which incentivize farmers to maximize yields through fertilizer application. Weather patterns affect both crop planting decisions and fertilizer application timing. Geopolitical events, particularly sanctions on major fertilizer exporters like Russia and Belarus, can create supply constraints that benefit North American producers like Nutrien. Currency fluctuations impact international competitiveness, as fertilizers are globally traded commodities typically priced in US dollars.
Competitive moat
Nutrien possesses a moderate but meaningful economic moat built primarily on strategic asset positioning, scale advantages, and integrated operations, though it faces significant commodity price volatility that limits pricing power. The company's strongest competitive advantage lies in its low-cost potash production assets in Saskatchewan, which benefit from high-grade ore deposits, established infrastructure, and proximity to major agricultural markets. These mines rank among the world's lowest-cost producers, providing sustainable cost advantages that persist across commodity cycles. The company has also invested heavily in mine automation, achieving 35% automated ore mining, which further reduces operating costs and improves reliability. Geographic and logistical advantages strengthen Nutrien's position, particularly in serving North American agricultural markets. The company's nitrogen production benefits from access to low-cost North American natural gas, while its extensive retail network creates barriers to entry through established customer relationships, local market knowledge, and distribution infrastructure that would be expensive and time-consuming for competitors to replicate. The integrated business model provides some defensive characteristics, as the retail segment offers more stable margins and cash flows that partially offset the volatility of upstream commodity production. This integration also creates operational synergies and customer insights that pure-play fertilizer producers lack. However, Nutrien's moat faces meaningful limitations. Commodity exposure means the company cannot control pricing for its core products, making it vulnerable to global supply-demand imbalances and economic cycles. Substitution risks exist as farmers can adjust fertilizer application rates based on crop prices and input costs. Regulatory and environmental pressures could impact operations, particularly around nitrogen production and potash mining. Technological disruption in agriculture, such as precision farming or alternative fertilizer technologies, could potentially reduce demand for traditional fertilizer products over time, though this threat appears more long-term than immediate.
Risks & safety
Nutrien demonstrates a solid margin of safety with strong financial fundamentals, though cyclical earnings create some valuation uncertainty. **Financial Strength:** - Debt-to-equity ratio of 0.52x indicates moderate leverage that appears manageable - Current ratio of 1.15x suggests adequate short-term liquidity, though relatively tight - Cash and short-term investments of $853 million provide reasonable liquidity buffer - Strong free cash flow generation of $1.5 billion in 2024 demonstrates cash-generating capability - No immediate solvency concerns given asset base of $52 billion and established operations **Valuation Metrics:** - EV/EBITDA of 6.9x for 2024 appears reasonable for a cyclical commodity business - Price-to-book ratio of 0.91x suggests trading below book value, indicating potential undervaluation - Price-to-earnings ratio of 32.9x appears elevated but reflects cyclically depressed earnings - Graham number calculation suggests potential undervaluation relative to intrinsic value metrics **Other Considerations:** - Cyclical nature of business creates earnings volatility that complicates valuation assessment - Strong asset base in strategic fertilizer production provides downside protection - Dividend sustainability supported by diversified cash flows from retail operations
Recent development
Over the past several years, Nutrien has focused on operational efficiency improvements, cost reduction initiatives, and strategic positioning for long-term growth. The company accelerated its cost savings program, achieving $200 million in annual cost reductions by 2025, ahead of the original 2026 target. This initiative included closing underperforming retail locations, particularly in Brazil where the company shut down 21 selling locations and curtailed 3 fertilizer blenders to improve profitability. Operational excellence initiatives have been a major focus, with significant investments in mine automation achieving 35% automated potash ore mining, which reduces costs and improves operational reliability. The company has also enhanced its midstream distribution capabilities and progressed nitrogen brownfield expansion projects to increase production capacity. These efforts resulted in record potash sales volumes and improved nitrogen production reliability. Portfolio optimization has included divesting non-core retail assets in Argentina, Chile, and Uruguay while focusing resources on higher-return markets. In Brazil, management has implemented a turnaround strategy focusing on proprietary products, inventory management, and cost structure optimization to address market challenges including high interest rates and competitive pressures. Technology and sustainability investments have expanded across the business, including precision agriculture solutions, aerial imagery services for farmers, and clean ammonia production capabilities. The company has also grown its proprietary products portfolio, targeting over 10% annual growth in proprietary products gross margin, and tripled acreage enrolled in carbon pilot programs to capitalize on emerging carbon credit opportunities. Capital allocation discipline has emphasized maintaining strong balance sheet flexibility while returning capital to shareholders through dividends and share repurchases, with $2.1 billion returned to shareholders in 2023 alone. The company has maintained focused capital expenditure programs of $2.0-$2.1 billion annually, targeting high-return projects while avoiding overexpansion during commodity cycle peaks.
NTR company profile · for informational purposes only — not investment advice.
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