3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
CF Industries Holdings's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -236.68%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for CF Industries Holdings's 3-Year ROIIC % or its related term are showing as below:
CF's 3-Year ROIIC % is ranked worse than 96.4% of 250
companies
in the Agriculture industry
Industry Median: -2.945
vs CF: -236.68
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
CF Industries Holdings 3-Year ROIIC % Related Terms
CF Industries Holdings 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for CF Industries Holdings's 3-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Agricultural Inputs subindustry, CF Industries Holdings's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
CF Industries Holdings 3-Year ROIIC % vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, CF Industries Holdings's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where CF Industries Holdings's 3-Year ROIIC % falls into.
CF Industries Holdings's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 1907.125 (Dec. 2025) - 4304.7117 (Dec. 2022) )
/
( 11425 (Dec. 2025) - 10412 (Dec. 2022) )
=
-2397.5867
/
1013
=
-236.68%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
CF Industries Holdings (CF) has a 3-Year ROIIC % of -236.68 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on CF Industries Holdings and its competitors. According to the industry distribution chart, CF Industries Holdings ranks #241 out of 250 companies in the Agriculture industry, placing it in the top 96.4%.
Is CF Industries Holdings' 3-Year ROIIC % too high?
CF Industries Holdings' current 3-Year ROIIC % is -236.68. Based on the distribution chart, CF Industries Holdings ranks #241 out of 250 companies in the Agriculture industry, which is in the bottom quartile relative to peers. Overall, CF Industries Holdings has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CF Industries Holdings' 3-Year ROIIC % compare to MOS and SMG?
According to the Agriculture industry distribution chart, CF Industries Holdings ranks #241 out of 250 companies for 3-Year ROIIC %. This places CF Industries Holdings in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Agriculture company?
A good 3-Year ROIIC % depends on the Agriculture industry context. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on CF Industries Holdings and its competitors. CF Industries Holdings's current 3-Year ROIIC % is -236.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CF Industries Holdings stock overvalued right now?
Based on GuruFocus' analysis, CF Industries Holdings (CF) is currently considered Fairly Valued. The stock's GF Value™ is $114.85, compared to a current price of $105.70 — trading 8% below its estimated fair value. The current 3-Year ROIIC % is -236.68. CF Industries Holdings' overall GF Score™ is 76/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For CF Industries Holdings (CF), the current 3-Year ROIIC % is -236.68 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is CF Industries Holdings (CF) Overvalued in 2026?
Based on GuruFocus' analysis, CF Industries Holdings stock appears to be undervalued.
The current stock price of $105.70 is trading 8% below its estimated GF Value™ of $114.85.
GuruFocus considers CF Industries Holdings to be Fairly Valued.
Key valuation signals for CF:
3-Year ROIIC %: -236.68
GF Value™: $114.85 vs. price of $105.70 (8% below fair value)
No single metric tells the full story. See the CF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CF Industries is a leading producer and distributor of nitrogen, which is primarily used in fertilizers. The company operates nitrogen manufacturing plants primarily in North America. CF also produces nitrogen in the United Kingdom and holds a joint venture interest in a nitrogen production facility in Trinidad and Tobago. CF makes nitrogen primarily using low-cost US natural gas as its feedstock, making the company one of the lowest-cost nitrogen producers globally. It is also investing in carbon-free blue and green ammonia, which can be used as an alternative fuel to hydrogen or as a means to transport hydrogen.
76GF Score
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