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Intrepid Potash, Inc. delivers potassium, magnesium, sulfur, salt, and water products. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as in agricultural market as a fertilizer input, in animal feed market as a nutrient supplement, in industrial market as a component in drilling and fracturing fluids, as well as input to other industrial processes. It also provides Trio, a specialty fertilizer that delivers potassium, sulfate, and magnesium in a single particle; salt for various markets, including animal feed, industrial applications, pool salt, and the treatment of roads and walkways for ice melting or to manage road conditions; magnesium chloride for use as a road treatment agent for deicing and dedusting; brines for use in oil and gas industry to support well workover and completion activities; and metal recovery salts. The company was founded in 2000 and is based in Denver, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $298M | $52M | $11M | $26M | 2.3% | 17.1% | -105.3% |
| 2024 | $255M | $19M | $-213M | $34M | -44.9% | -8.7% | 496.7% |
| 2023 | $279M | $-5M | $-36M | $-22M | -5.2% | -17.3% | -149.4% |
| 2022 | $338M | $131M | $72M | $20M | 10.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 337.57 | 279.08 | 254.69 | 298.33 |
| Operating Revenue | - | 329.08 | 271.40 | 247.82 | 291.38 |
| Cost Of Revenue | - | 196.16 | 242.24 | 225.61 | 243.51 |
| Gross Profit | - | 141.41 | 36.85 | 29.08 | 54.82 |
| Operating Expense | - | 38.50 | 36.72 | 36.28 | 43.46 |
| Selling General And Administration | - | 31.80 | 32.42 | 32.97 | 36.70 |
| Total Expenses | - | 234.66 | 278.96 | 261.89 | 286.97 |
| Operating Income | - | 102.91 | 0.13 | -7.20 | 11.36 |
| Total Operating Income As Reported | - | 95.44 | -43.97 | -19.86 | 10.66 |
| EBITDA | - | 131.22 | -5.19 | 18.76 | 52 |
| Normalized EBITDA | - | 138.69 | 38.91 | 31.42 | 52.69 |
| EBIT | - | 96.19 | -44.59 | -18.93 | 11.43 |
| Interest Income | - | 0.18 | 0.30 | 1.71 | 2.43 |
| Interest Expense | - | -0.32 | -0.53 | -0.42 | -0.30 |
| Net Interest Income | - | 0.08 | 0.30 | 1.60 | 2.20 |
| Other Non Operating Income Expenses | - | 0.30 | 0.10 | 0.04 | -0.76 |
| Other Income Expense | - | -6.48 | -44.49 | -12.91 | -1.83 |
| Interest Income Non Operating | - | 0.18 | 0.30 | 1.71 | 2.43 |
| Interest Expense Non Operating | - | -0.32 | -0.53 | -0.42 | -0.30 |
| Net Non Operating Interest Income Expense | - | 0.08 | 0.30 | 1.60 | 2.20 |
| Pretax Income | - | 96.51 | -44.06 | -18.51 | 11.73 |
| Tax Provision | - | 24.29 | -8.39 | 194.33 | 0.54 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.88 | -8.38 | -2.66 | -0.03 |
| Net Income Continuous Operations | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Net Income From Continuing And Discontinued Operation | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Net Income From Continuing Operation Net Minority Interest | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Net Income | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Net Income Common Stockholders | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Net Income Including Noncontrolling Interests | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Normalized Income | - | 77.81 | 0.04 | -202.84 | 11.84 |
| Diluted NI Availto Com Stockholders | - | 72.22 | -35.67 | -212.84 | 11.18 |
| Basic Average Shares | - | 13.15 | 12.76 | 12.88 | 13.01 |
| Diluted Average Shares | - | 13.45 | 12.76 | 12.88 | 13.17 |
| Reconciled Depreciation | - | 35.03 | 39.40 | 37.69 | 40.57 |
| Reconciled Cost Of Revenue | - | 196.16 | 242.24 | 225.61 | 243.51 |
| Total Unusual Items | - | -7.47 | -44.10 | -12.66 | -0.69 |
| Total Unusual Items Excluding Goodwill | - | -7.47 | -44.10 | -12.66 | -0.69 |
| Special Income Charges | - | -7.47 | -44.10 | -12.66 | -0.69 |
| Other Special Charges | -10.11 | - | - | - | - |
| Impairment Of Capital Assets | - | 0 | 43.29 | 10.71 | 1.87 |
| Gain On Sale Of Ppe | - | -7.47 | -0.81 | -1.95 | 1.18 |
| Total Other Finance Cost | - | 0.42 | 0.53 | 0.53 | 0.53 |
| Other Operating Expenses | - | 6.70 | 4.30 | 3.31 | 6.76 |
| Earnings From Equity Interest | - | 0.69 | -0.49 | -0.30 | -0.37 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Intrepid Potash, Inc.this co. | IPI | $499M | 44.65 | 1.02 | 2.3% | 8.06 |
| Idaho Strategic Resources, Inc. | IDR | $583M | 34.90 | 5.39 | 15.5% | 29.69 |
| Rayonier Advanced Materials Inc. | RYAM | $577M | -1.36 | 1.82 | -133.5% | 9.35 |
| Contango Silver & Gold Inc. | CTGO | $576M | -15.95 | 22.94 | -143.8% | -19.42 |
| Lifezone Metals Limited | LZM |
| - |
| - |
| - |
| - |
| - |
| $464M |
| -34.07 |
| 6.29 |
| -18.5% |
| -200.38 |
| Gevo, Inc. | GEVO | $431M | -12.73 | 0.92 | -7.3% | 42.14 |
| Mativ Holdings, Inc. | MATV | $423M | -1.25 | 0.85 | -67.7% | -5.67 |
| Caledonia Mining Corporation Plc | CMCL | $411M | 7.45 | 1.59 | 21.3% | 3.24 |
| Valhi, Inc. | VHI | $410M | -7.12 | 0.40 | -5.6% | 10.03 |
| Peer Median | - | -4.24 | 1.70 | -12.9% | 6.30 | |