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Intrepid Potash USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Fertilizers

Geography: United States

COMM_IPI

Price chart

36.15 USDDay 5.21%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
36.15 USD · 5.21%
Market cap
476 mln USD

Growth

Δ revenue y/y
4.4%
Δ EBITDA y/y
19.3%

Multiples

P/E (LTM)
34.0x
P/B (FY)
1.0x
P/E (ann.)
16.1x
EV/EBITDA (LTM)
7.0x
EV/EBITDA (ann.)
5.9x

Cash return

Dividend yield
—
FCF yield (LTM)
11.2%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
+41.3%
↓ details

Liquidity

Daily turnover (listing)
6.9 mln USD

Shares: yahoo_fundamentals_timeseries/IPI

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 1 / Warn: 8 / Err: 6 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1✓OK
2023-06-30 Q2✗Errors 1Warn 1
2023-09-30 Q3✗Errors 1Warn 6
2023-12-31 FY✗Errors 1Warn 2
2023-12-31 Q4✗Errors 1
2024-03-31 Q1✗Errors 2Warn 2
2024-06-30 Q2⚠Warn 1
2024-09-30 Q3⚠Warn 2
2024-12-31 FY⚠Warn 2
2024-12-31 Q4⚠Warn 2
2025-03-31 Q1✗Errors 2
2025-06-30 Q2⚠Warn 2
2025-09-30 Q3⚠Warn 2
2025-12-31 FY⚠Warn 1
2026-03-31 Q1⚠Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)PARTIAL98.7
y/y 4.4%
6.2
y/y 68.2%
10.0
y/y 1.0%
16.2
y/y 19.3%
7.4
y/y 61.1%
23.2-5.1641.5
y/y 6.7%
498.2
y/y 3.9%
6.0%-97.2Link
2025-12-31Q4 2025 (3M)OK79.1
y/y 41.8%
2.8
y/y 119.4%
10.9
y/y 17.5%
13.6
y/y 379.2%
-0.4
y/y 99.8%
8.9-10.7632.2
y/y 6.3%
491.4
y/y 3.6%
2.3%-81.5Link
2025-09-30Q3 2025 (3M)OK53.2
y/y -7.5%
0.9
y/y —
10.2
y/y 11.6%
11.1
y/y 60.9%
3.7
y/y —
-4.0-7.7616.5
y/y -23.5%
490.7
y/y -27.9%
1.0%-73.5—
2025-06-30Q2 2025 (3M)OK71.5
y/y 15.2%
3.3
y/y —
9.7
y/y 3.8%
12.9
y/y 54.8%
3.3
y/y —
39.9-4.1607.2
y/y -23.8%
483.8
y/y -29.1%
2.7%-81.6—
2025-03-31Q1 2025 (3M)OK94.5
y/y 19.2%
3.7
y/y —
9.9
y/y -1.5%
13.6
y/y 81.7%
4.6
y/y —
10.9-7.7601.3
y/y -25.1%
479.5
y/y -29.7%
3.9%-42.0Link
2024-12-31Q4 2024 (3M)PARTIAL55.8
y/y -1.5%
-14.2
y/y 70.2%
9.3
y/y -4.8%
-4.9
y/y 87.0%
-207.0
y/y -455.3%
7.6-6.3594.5
y/y -22.6%
474.4
y/y -30.7%
-36.9%-41.3—
2024-09-30Q3 2024 (3M)OK57.5
y/y 5.7%
-2.2
y/y —
9.1
y/y -10.7%
6.9
y/y 565.3%
-1.8
y/y —
-4.3-9.6806.2
y/y 1.7%
680.6
y/y -5.5%
-0.4%-35.1—
2024-06-30Q2 2024 (3M)OK62.1
y/y -23.4%
-0.9
y/y -112.9%
9.3
y/y 3.7%
8.4
y/y -48.5%
-0.8
y/y -119.3%
27.7-11.3797.0
y/y 0.1%
682.2
y/y -6.0%
-0.5%-49.9—
2024-03-31Q1 2024 (3M)OK79.3
y/y -8.8%
-2.5
y/y -147.4%
10.0
y/y -4.6%
7.5
y/y -53.0%
-3.1
y/y -169.5%
41.5-11.7802.6
y/y 0.2%
682.0
y/y -5.3%
-1.8%-32.0—
2023-12-31Q4 2023 (3M)PARTIAL56.7
y/y —
-47.4
y/y —
9.7
y/y —
-37.7
y/y —
-37.3
y/y —
4.6-6.6768.6
y/y —
684.4
y/y —
-5.1%-0.1—
2023-09-30Q3 2023 (3M)OK54.5
y/y —
-9.2
y/y —
10.2
y/y —
1.0
y/y —
-7.2
y/y —
-0.3-16.6792.8
y/y —
720.4
y/y —
-1.3%3.0—
2023-06-30Q2 2023 (3M)OK81.0
y/y —
7.3
y/y —
9.0
y/y —
16.2
y/y —
4.3
y/y —
30.5-20.9796.3
y/y —
726.1
y/y —
2.4%-13.2—
2023-03-31Q1 2023 (3M)OK86.9
y/y —
5.4
y/y —
10.5
y/y —
15.9
y/y —
4.5
y/y —
8.4-21.0801.0
y/y —
720.3
y/y —
—-2.4—
Data quality — review suggested

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Proved reserves
7.20 million tons
2025
Reserve life (R/P)
13.0 yrs
reserves ÷ annual output
Annual production
553 thousand tons
2025

Production, thousand tons

440202354620245532025

Proved reserves

YearReserves, million tons
20257.20
20247.60

Production

YearProduction, thousand tons
2025553
+1.3%
2024546
+24.1%
2023440

SEC 10-K (CIK 1421461) via DeepSeek; IPI primary-product production & reserves.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-500501002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-50-25025502023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-100-80-60-40-2002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Potash (US Gulf Nola)

Current 790spot vs LTM +8%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +41.3%

Main driver: Potash (US Gulf Nola) +8% vs LTM; revenue ×1.08 vs costs ×1.03; EBITDA 54→44; at 11.6× EV/EBITDA → +41%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Potash (US Gulf Nola) (rev)+100%789.73731.28657.79+8%-10%
Henry Hub Gas (cost)-5%3.153.533.09-11%-12%
Electricity Spot (cost)-5%57.8058.5652.39-1%-11%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue302
LTM EBITDA54
LTM cash costs (revenue − EBITDA)249
2 · Revenue projection
Revenue multiplier — spot×1.080 (+8%)
= Spot revenue327
Revenue multiplier — 3y price×0.899 (-10%)
= 3-year-price revenue272
3 · Costs projection
Cost multiplier — spot×1.030 (+3%)
= Spot cash costs256
Cost multiplier — 3y price×1.025 (+2%)
= 3-year-price cash costs255
4 · EBITDA projection (revenue − costs)
= Spot EBITDA71
= 3-year-price EBITDA17
Conservative EBITDA = min(spot, avg)44
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)11.6x
Target EV = EV/EBITDA × conservative EBITDA510
Net debt-99
Target market cap = EV − net debt610
Current market cap431

Upside = target market cap ÷ current − 1 = +41.3%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q28162+30.0%169+84.1%
2023 Q35455-1.2%1-2—
2023 Q45763-10.2%-373-1318.5%
2024 Q17960+31.9%7-11—
2024 Q26258+6.9%8-15—
2024 Q35861-5.1%7-9—
2024 Q45661-8.2%-1-9—
2025 Q19570+35.3%148+66.0%
2025 Q27183-13.9%1320-35.4%
2025 Q35386-38.1%1123-50.8%
2025 Q47979+0.7%1416-15.5%
2026 Q19984+17.1%1621-23.2%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 3.9x · target 3-yr avg 11.6x · LTM avg 8.5x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)