| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 78 | 15.9x | 17.8x | Top tier | |
Growth | 29 | 8.6% | 7.1% | Bottom tier | |
Quality | 52 | 8.8% | 4.5% | Around median | |
Safety | 65 | 1.9x | 2.6x | Around median | |
Capital Return | 78 | 2.78% | 2.12% | Top tier | |
Momentum | 74 | 14.2% | 2.9% | Top tier | |
Sentiment | 85 | 11 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Nutrien operates across the agricultural value chain, from fertilizer production to the distribution of inputs and services to farmers. The company generates earnings from six low-cost potash mines, nitrogen assets in North America, phosphate operations, and a retail network that sells crop nutrients, crop protection products, seeds, and proprietary products and provides agricultural services; in Australia, revenue also includes commissions from helping farmers sell sheep and cattle. The potash and nitrogen businesses benefit from prices and volumes, while proprietary products and retail margins provide the company with a more diversified source of earnings.
In Q2 of fiscal 2026, Nutrien reported net income of $1.22 billion and adjusted earnings before interest, taxes, depreciation, and amortization of approximately $2.4 billion. Potash adjusted earnings before interest, taxes, depreciation, and amortization were $658 million, and nitrogen generated $635 million, while phosphate earnings declined due to higher sulfur costs. For the first half of fiscal 2026, adjusted earnings before interest, taxes, depreciation, and amortization reached $3.5 billion, up 6%, and cash generated from operating activities increased 12%.
Retail generated adjusted earnings before interest, taxes, depreciation, and amortization of $1.24 billion in the first half of fiscal 2026, up 4%, despite weaker commodity fertilizer volumes. Total gross margin from proprietary crop nutrients increased 10% in the first half, while total gross margin from proprietary products increased 16% in Q2, supported by the launch of 26 new products and an increase in sales of certain agricultural nutrition products to nearly ten times their level a year earlier. For the annual comparison, fiscal 2025 revenue increased to $26.9 billion from $26.0 billion in fiscal 2024, and net income rose to $2.3 billion from $700 million, with earnings per share increasing to $4.66 from $1.36.
The average analyst price target is $79.13, below the 52-week range high of $85.36, while the target range extends from $63 to $100 compared with an annual share-price range of $53.03 to $85.36; this breadth reflects substantial disagreement about the sustainability of the fertilizer earnings cycle. The consensus rating is Buy, but the absence of an available price-to-earnings ratio and the fluctuation in net income from $7.7 billion in fiscal 2022 to $700 million in fiscal 2024 and then $2.3 billion in fiscal 2025 make NTR's valuation highly dependent on fertilizer prices, volumes, and margins.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
Nutrien reported net income of $1.22 billion and adjusted earnings before interest, taxes, depreciation, and amortization of approximately $2.4 billion in Q2 of fiscal 2026. Potash generated $658 million of adjusted earnings before interest, taxes, depreciation, and amortization, supported by higher benchmark prices, operational execution, and the supply chain. Nitrogen generated $635 million, while higher sulfur costs pressured phosphate. For the first half, adjusted earnings before interest, taxes, depreciation, and amortization increased 6% to $3.5 billion, and operating cash flow rose 12%.
Nutrien achieved record potash sales volumes in the first half of fiscal 2026, then raised the lower end of its full-year guidance to 14.2 million tonnes within a range of 14.2–14.8 million tonnes. Canpotex was fully committed for Q3 of fiscal 2026 volumes, and the company maintained its global shipment forecast at 74–77 million tonnes. The six-mine network is targeting controllable cash cost below $60 per tonne, and 53% of ore tonnes were mined using automation in the first half. Management sees the potential to increase capacity from approximately 15 million tonnes to 18 million tonnes at a cost of $200–300 per additional tonne and with approximately one year required to make the volumes available.
Automated analysis for informational purposes only — not investment advice.
Total gross margin from proprietary products increased 16% in Q2 of fiscal 2026, and total gross margin from proprietary crop nutrients increased 10% in the first half. The company launched 26 products during the year, and sales of certain agricultural nutrition products reached nearly ten times their level a year earlier. Management is targeting high-single-digit growth in total gross margin from proprietary products during fiscal 2026. However, this growth only partially offset volume weakness, as retail phosphate volumes declined approximately 10% and nitrogen volumes approximately 7% in Q2.
The company raised the lower end of its potash sales guidance to 14.2 million tonnes, bringing the range to 14.2–14.8 million tonnes, and maintained nitrogen sales guidance at 9.2–9.7 million tonnes. It also maintained retail adjusted earnings before interest, taxes, depreciation, and amortization guidance at $1.75–1.95 billion. The capital expenditure range was reduced by $50 million to $1.95–2.05 billion. In Q3 of fiscal 2026, the company increased the pace of share repurchases to approximately $75 million per month.
Retail is experiencing lower phosphate and nitrogen volumes, while management expects phosphate demand to remain below historical levels during the second half of fiscal 2026. Higher sulfur prices are pressuring phosphate margins, while nitrogen volumes were affected by production outages in Trinidad and New Madrid and maintenance at Carseland. Retail selling, general, and administrative expenses increased approximately 6% in the first half due to fuel and fleet costs. Reaching the upper end of the 77 million tonne global potash shipment estimate also requires sufficient capacity across the global supply chain.
Nutrien increased share repurchases by 26% in the first half of fiscal 2026 compared with the prior year, then raised the pace to approximately $75 million per month in Q3. Since Q4 of fiscal 2024, asset divestitures have generated approximately $1 billion in total proceeds, including agreements totaling approximately $90 million completed since June 2026. The company is reviewing strategic alternatives for its phosphate business, nitrogen operations in Trinidad, and components of its Brazilian retail business. Management stated that it is targeting a determination of the optimal path for these businesses during fiscal 2026.
