CVR ENERGY INC
CVI · Petroleum Refining · 100.5M shares · +0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$22M (gross $12M, SBC $34M)
Reference price $21.41 · est. market cap ~$2.2B — last insider purchase, 2026-02-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C59Cyclical Icahn-controlled refiner in a margin trough with thin profitability and high leverage.
Strengths
- Scaled, integrated refining/fertilizer assets with crude logistics
- Strong liquidity — current ratio 1.79 (100th pct), quick ratio 1.13 (77th pct)
Risks
- Trough returns: ROE 3.7% (20th), net margin 0.38%, gross margin 20th pct
- High leverage — debt/equity 2.33 (100th pct) into a volatile cycle
- Controlled company (Icahn ~70%); commodity-margin and regulatory (RFS) volatility
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
4.8%
Operating margin
2.5%
Net margin
0.4%
Return on equity
3.7%
Return on assets
0.7%
ROIC
5.9%
Revenue growth (QoQ)
9.4%
Net-income growth
285.7%
Debt / equity
2.3×
Net debt / EBITDA
2.0×
Current ratio
1.8×
EBITDA
$585M
Tangible book value
$730M
Cash & investments
$511M
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-02-24 | ICAHN CARL C | Buy | 275K | $21.41 |
| 2026-02-23 | ICAHN CARL C | Buy | 245K | $20.75 |
| 2026-02-20 | ICAHN CARL C | Buy | 263K | $20.78 |
| 2025-12-10 | Wright Michael H. Jr. | Option exercise | 6.5K | — |
| 2025-12-10 | Wright Michael H. Jr. | Disposition | 6.5K | $33.98 |
| 2025-12-10 | Wright Michael H. Jr. | Option exercise | 11K | — |
| 2025-12-10 | Wright Michael H. Jr. | Disposition | 11K | $33.98 |
| 2025-12-10 | Neumann Dane J. | Option exercise | 5.1K | — |
| 2025-12-10 | Neumann Dane J. | Disposition | 5.1K | $33.98 |
| 2025-12-10 | Neumann Dane J. | Option exercise | 6.6K | — |
| 2025-12-10 | Neumann Dane J. | Disposition | 6.6K | $33.98 |
| 2025-12-10 | Neumann Dane J. | Option exercise | 11K | — |
| 2025-12-10 | Neumann Dane J. | Disposition | 11K | $33.98 |
| 2025-12-10 | Conaway Jeffrey D. | Option exercise | 1.5K | — |
| 2025-12-10 | Conaway Jeffrey D. | Disposition | 1.5K | $33.98 |
| 2025-12-10 | Conaway Jeffrey D. | Option exercise | 2.0K | — |
| 2025-12-10 | Conaway Jeffrey D. | Option exercise | 3.5K | — |
| 2025-12-10 | Conaway Jeffrey D. | Disposition | 3.5K | $33.98 |
| 2025-12-10 | Johnson Charles Douglas | Option exercise | 4.4K | — |
| 2025-12-10 | Johnson Charles Douglas | Disposition | 4.4K | $33.98 |
| 2025-12-10 | Johnson Charles Douglas | Option exercise | 5.7K | — |
| 2025-12-10 | Johnson Charles Douglas | Disposition | 5.7K | $33.98 |
| 2025-12-10 | Johnson Charles Douglas | Option exercise | 9.8K | — |
| 2025-12-10 | Johnson Charles Douglas | Disposition | 9.8K | $33.98 |
| 2025-12-10 | Buhrig Melissa M | Option exercise | 6.1K | — |
| 2025-12-10 | Buhrig Melissa M | Disposition | 6.1K | $33.98 |
| 2025-12-10 | Buhrig Melissa M | Option exercise | 8.0K | — |
| 2025-12-10 | Buhrig Melissa M | Disposition | 8.0K | $33.98 |
| 2025-12-10 | Buhrig Melissa M | Option exercise | 14K | — |
| 2025-12-10 | Buhrig Melissa M | Disposition | 14K | $33.98 |
| 2025-12-10 | PYTOSH MARK A | Option exercise | 4.1K | — |
| 2025-12-10 | PYTOSH MARK A | Disposition | 4.1K | $33.98 |
| 2025-12-10 | PYTOSH MARK A | Option exercise | 5.3K | — |
| 2025-12-10 | PYTOSH MARK A | Disposition | 5.3K | $33.98 |
| 2025-12-10 | PYTOSH MARK A | Option exercise | 9.1K | — |
| 2025-12-10 | PYTOSH MARK A | Disposition | 9.1K | $33.98 |
| 2025-12-10 | LAMP DAVID L | Option exercise | 14K | — |
| 2025-12-10 | LAMP DAVID L | Disposition | 14K | $33.98 |
| 2025-12-10 | LAMP DAVID L | Option exercise | 17K | — |
| 2025-12-10 | LAMP DAVID L | Disposition | 17K | $33.98 |
| 2025-12-10 | LAMP DAVID L | Option exercise | 29K | — |
| 2025-12-10 | LAMP DAVID L | Disposition | 29K | $33.98 |
| 2025-12-10 | Conaway Jeffrey D. | Disposition | 2.0K | $33.98 |
| 2025-12-10 | Wright Michael H. Jr. | Option exercise | 5.1K | — |
| 2025-12-10 | Wright Michael H. Jr. | Disposition | 5.1K | $33.98 |
| 2025-04-29 | ICAHN CARL C | Buy | 7.9K | $18.21 |
| 2025-04-25 | ICAHN CARL C | Buy | 41K | $18.16 |
| 2025-04-24 | ICAHN CARL C | Buy | 30K | $18.20 |
| 2025-04-23 | ICAHN CARL C | Buy | 99K | $17.84 |
| 2025-04-21 | ICAHN CARL C | Buy | 30K | $18.21 |
| 2025-04-17 | ICAHN CARL C | Buy | 15K | $18.18 |
| 2025-04-16 | ICAHN CARL C | Buy | 70K | $18.03 |
| 2025-04-15 | ICAHN CARL C | Buy | 82K | $17.85 |
| 2025-04-14 | ICAHN CARL C | Buy | 78K | $17.90 |
| 2025-04-11 | ICAHN CARL C | Buy | 193K | $17.31 |
| 2025-04-10 | ICAHN CARL C | Buy | 218K | $16.78 |
| 2025-04-09 | ICAHN CARL C | Buy | 203K | $16.62 |
| 2025-04-08 | ICAHN CARL C | Buy | 244K | $16.76 |
| 2025-04-07 | ICAHN CARL C | Buy | 244K | $16.11 |
| 2025-04-04 | ICAHN CARL C | Buy | 268K | $16.55 |
| 2025-04-03 | ICAHN CARL C | Buy | 61K | $18.12 |
| 2025-03-14 | ICAHN CARL C | Buy | 77 | $18.25 |
| 2025-03-13 | ICAHN CARL C | Buy | 88K | $18.14 |
| 2025-03-12 | ICAHN CARL C | Buy | 139K | $18.01 |
| 2025-03-11 | ICAHN CARL C | Buy | 89K | $18.11 |
| 2025-03-10 | ICAHN CARL C | Buy | 67K | $18.15 |
| 2025-03-07 | ICAHN CARL C | Buy | 76K | $18.20 |
| 2025-03-06 | ICAHN CARL C | Buy | 4.9K | $18.21 |
| 2025-03-05 | ICAHN CARL C | Buy | 122K | $17.84 |
| 2025-03-04 | ICAHN CARL C | Buy | 167K | $18.01 |
| 2025-03-03 | ICAHN CARL C | Buy | 207K | $17.79 |
| 2025-02-28 | ICAHN CARL C | Buy | 3.6K | $18.24 |
| 2025-02-19 | Wright Michael H. Jr. | Option exercise | 6.6K | — |
| 2025-02-19 | Wright Michael H. Jr. | Disposition | 6.6K | $18.80 |
| 2025-01-08 | ICAHN CARL C | Buy | 878K | $18.25 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Exec/director changeOtherExhibits | filing ↗ |
| 2026-06-05 | Shareholder vote | filing ↗ |
| 2026-05-12 | Reg FDExhibits | filing ↗ |
| 2026-04-29 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-24 | Reg FDExhibits | filing ↗ |
| 2026-02-18 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-12 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-01-29 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-18 | 0001376139-26-000034 ↗ |
| 8-K | 2026-06-05 | 2026-06-04 | 0001376139-26-000032 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001376139-26-000030 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001376139-26-000027 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001376139-26-000028 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001376139-26-000016 ↗ |
| 10-K | 2026-02-18 | 2025-12-31 | 0001376139-26-000014 ↗ |
| 8-K | 2026-02-18 | 2026-02-18 | 0001376139-26-000013 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001376139-26-000010 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0001376139-26-000007 ↗ |
| 8-K | 2026-01-26 | 2026-01-26 | 0001376139-26-000005 ↗ |
| 8-K | 2026-01-05 | 2025-12-31 | 0001376139-26-000003 ↗ |