IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
CVR Partners, LP (UAN) is a variable-distribution master limited partnership (MLP) that produces nitrogen fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia.
Investment Thesis
UAN is a high-beta commodity play designed for one thing: generating massive, cyclical cash distributions. Their facilities utilize petroleum coke (a low-cost byproduct of refining) rather than expensive natural gas to produce nitrogen fertilizer, giving them a structural cost advantage over many global competitors. When grain prices are high and nitrogen supplies are tight, UAN's cash distributions can reach levels that imply a double-digit yield. It is not a buy-and-hold stock, but rather an aggressive vehicle for playing the agriculture cycle when global supply dynamics are favorable.
Key Growth Drivers
Feedstock Cost Advantage
The ability to use petroleum coke as a feedstock protects UAN from the natural gas price volatility that often cripples European fertilizer producers.
Agriculture Cycle Leverage
High corn and wheat prices drive intensive fertilizer application, allowing UAN to capture peak pricing and volume during agricultural booms.
Variable Distribution Model
The MLP structure ensures that nearly all excess cash flow is paid out to unitholders, providing massive immediate yield during favorable cycles.
Valuation & Financial Modeling
UAN should be valued based on its normalized distribution yield over a full cycle. The stock often trades at distressed levels during cycle troughs, providing asymmetric upside for contrarian commodity investors.
Risk Factors & Bear Case
As a pure-play commodity producer, UAN is highly sensitive to the price of nitrogen and grain. A collapse in agriculture prices or a surge in global fertilizer supply would instantly crater the distribution. Additionally, the partnership carries significant operational risk due to its reliance on two primary manufacturing facilities.
Conclusion
CVR Partners is a high-risk, maximum-yield commodity vehicle. It is a powerful tool for investors looking to express a bullish view on global agriculture. Rated 'Speculative Strong Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
Unlock Investment Thesis
Sign up for free access to institutional-quality research tools.
Relative valuation derived from Materials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 50GRADE C+
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
42.4%
Sector: 3.3%
Dividend Analysis audit
HIGH YIELD
10.09%
Trailing Yield
$10.09
Per $100 Invested
Attractive yield supported by strong profitability.
Est. Payout Ratio
124%HIGH
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, CVR PARTNERS, LP (UAN) receives a "Buy" rating with a composite score of 55.6/100, ranked #56 out of 4446 stocks. Key factor scores: Quality 50/100, Value 71/100, Momentum 67/100. This is quantitative analysis only — not investment advice.
CVR PARTNERS, LP (UAN) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does CVR PARTNERS, LP Do?
CVR Partners, LP, together with its subsidiaries, engages in the production and sale of nitrogen fertilizer products in the United States. The company offers ammonia products for agricultural and industrial customers; and urea and ammonium nitrate products to agricultural customers, as well as retailers and distributors. CVR GP, LLC serves as the general partner of the company. CVR Partners, LP was incorporated in 2007 and is headquartered in Sugar Land, Texas. CVR PARTNERS, LP (UAN) is classified as a small-cap stock in the Materials sector, specifically within the Chemicals industry. The company is led by CEO Mark A. Pytosh and employs approximately 300 people, headquartered in SUGAR LAND, Texas. With a market capitalization of $1.3B, UAN is one of the notable companies in the Materials sector.
As of April 2026, CVR PARTNERS, LP receives a Buy rating with a composite score of 55.6/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.UAN ranks #56 out of 4,446 stocks in our coverage universe. Within the Materials sector, CVR PARTNERS, LP ranks #3 of 284 stocks, placing it in the top 10% of its Materials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
UAN Stock Price and 52-Week Range
CVR PARTNERS, LP (UAN) currently trades at $119.50. The 52-week high for UAN is $139.50, which means the stock is currently trading -14.3% from its annual peak. The 52-week low is $63.45, putting the stock 88.3% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is UAN Overvalued or Undervalued? — Valuation Analysis
CVR PARTNERS, LP (UAN) carries a value factor score of 71/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 12.24x, compared to the Materials sector average of 26.50x — a discount of 54%. The price-to-book ratio stands at 5.19x, versus the sector average of 2.83x. The price-to-sales ratio is 2.30x, compared to 0.74x for the average Materials stock. On an enterprise value basis, UAN trades at 9.68x EV/EBITDA, versus 6.01x for the sector.
Based on these multiples, CVR PARTNERS, LP appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
CVR PARTNERS, LP Profitability — ROE, Margins, and Quality Score
CVR PARTNERS, LP (UAN) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 42.4%, compared to the Materials sector average of 3.3%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 11.6% versus the sector average of 0.6%.
On a margin basis, CVR PARTNERS, LP reports gross margins of 28.5%, compared to 29.8% for the sector. The operating margin is 22.9% (sector: 6.0%). Net profit margin stands at 17.8%, versus 3.0% for the average Materials stock. Revenue growth is running at 23.1% on a trailing basis, compared to 1.8% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
UAN Debt, Balance Sheet, and Financial Health
CVR PARTNERS, LP has a debt-to-equity ratio of 265.0%, compared to the Materials sector average of 41.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 2.21x, indicating strong short-term liquidity. Total debt on the balance sheet is $569M. Cash and equivalents stand at $156M.
UAN has a beta of 0.17, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for CVR PARTNERS, LP is 69/100, reflecting average volatility within the normal range for its sector.
CVR PARTNERS, LP Revenue and Earnings History — Quarterly Trend
In TTM 2026, CVR PARTNERS, LP reported revenue of $600M and earnings per share (EPS) of $9.33. Net income for the quarter was $113M. Gross margin was 28.5%. Operating income came in at $143M.
In FY 2025, CVR PARTNERS, LP reported revenue of $606M and earnings per share (EPS) of $9.33. Net income for the quarter was $99M. Gross margin was 27.0%. Revenue grew 15.4% year-over-year compared to FY 2024. Operating income came in at $129M.
In Q3 2025, CVR PARTNERS, LP reported revenue of $164M and earnings per share (EPS) of $4.08. Net income for the quarter was $43M. Gross margin was 37.0%. Revenue grew 30.6% year-over-year compared to Q3 2024. Operating income came in at $51M.
In Q2 2025, CVR PARTNERS, LP reported revenue of $169M and earnings per share (EPS) of $3.67. Net income for the quarter was $39M. Gross margin was 32.4%. Revenue grew 26.8% year-over-year compared to Q2 2024. Operating income came in at $46M.
Over the past 8 quarters, CVR PARTNERS, LP has demonstrated a growth trajectory, with revenue expanding from $133M to $600M. Investors analyzing UAN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
UAN Dividend Yield and Income Analysis
CVR PARTNERS, LP (UAN) currently pays a dividend yield of 10.1%. At this yield, a $10,000 investment in UAN stock would generate approximately $$1009.00 in annual dividend income. This compares to the Materials sector average dividend yield of 0.5%, meaning UAN offers above-average income for its sector. With a net margin of 17.8%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
UAN Momentum and Technical Analysis Profile
CVR PARTNERS, LP (UAN) has a momentum factor score of 67/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 38/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
UAN vs Competitors — Materials Sector Ranking and Peer Comparison
Comparing UAN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full UAN vs S&P 500 (SPY) comparison to assess how CVR PARTNERS, LP stacks up against the broader market across all factor dimensions.
UAN Next Earnings Date
No upcoming earnings date has been announced for CVR PARTNERS, LP (UAN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy UAN? — Investment Thesis Summary
The bull case for CVR PARTNERS, LP rests on several quantitative strengths. The value score of 71/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 67/100, suggesting the trend favors buyers. Low volatility (stability score 69/100) reduces downside risk.
In summary, CVR PARTNERS, LP (UAN) earns a Buy rating with a composite score of 55.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on UAN stock.
We'll email you when stocks you follow change their composite rating.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
23.1%
Sector: 1.8%
+1218% VS SCTR
Gross Margin
Core pricing power
28.5%
Sector: 29.8%
IN LINE
Operating Margin
Operating efficiency
22.9%
Sector: 6.0%
+282% VS SCTR
Net Margin
Bottom-line conversion
17.8%
Sector: 3.0%
+500% VS SCTR
Return on Equity
Equity capital efficiency
42.4%
Sector: 3.3%
+1174% VS SCTR
Return on Assets
Asset base utilization
11.6%
Sector: 0.6%
+1838% VS SCTR
Debt/Equity
Financial leverage load
265.0%
Sector: 41.0%
-546% VS SCTR
Dividend Yield
Direct cash return
10.1%
Sector: 0.5%
+1959% VS SCTR
+83%
Price / Sales
2.3x
+211%
CVR PARTNERS, LP exhibits a 75% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
11.6%
Sector: 0.6%
Gross Margin
Pricing power and cost efficiency
28.5%
Sector: 29.8%
Operating Margin
Core business profitability
22.9%
Sector: 6.0%
Net Margin
Bottom-line profitability
17.8%
Sector: 3.0%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.49%
Yield Delta+1959%
Income Projection audit
A $10,000 investment would generate approximately $1009 annually in dividends at the current trailing rate.