CF Industries Holdings, Inc. (CF)

Agricultural Chemicals

Latest Price

$115.20

TTM P/E

8.56

Normalized P/E

10.54

Div Yield

1.30%

Book Value

37.41

P/B Ratio

3.08

Valuation metrics

EPS: $8.97

Book value / share: $31.51

Formula: √(22.5 × EPS × BVPS)

Graham Number

$79.74

31% downside

Norm. op. income: $1.7B (median of 7yr)

Tax rate: 18%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$84.94

26% downside

Base FCF: $2.3B (median of recent 5yr)

Growth: -6%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$104.55

9% downside

EPS: $8.97

Target P/E: 11×

Formula: EPS × P/E

P/E Fair Value

$98.67

14% downside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	13.03M	$1.41B	8.48%	+838.1K	2026-06-30
Vanguard Capital Management LLC	10.04M	$1.09B	6.54%	-11.5K	2026-06-30
Vanguard Portfolio Management LLC	8.53M	$923.0M	5.56%	+793.2K	2026-06-30
State Street Corp	8.53M	$923.0M	5.55%	+643.6K	2026-06-30
Price T Rowe Associates Inc	8.47M	$917.0M	5.52%	+946.0K	2026-06-30
Geode Capital Management, LLC	5.39M	$629.0M	3.51%	+207.8K	2026-06-30
Dimensional Fund Advisors LP	3.63M	$393.0M	2.36%	-826.9K	2026-06-30
Capital World Investors	3.32M	$359.0M	2.16%	+1.15M	2026-06-30
Invesco Ltd.	3.14M	$340.0M	2.05%	+152.3K	2026-06-30
Northern Trust Corp	3.08M	$333.0M	2.01%	-24.4K	2026-06-30