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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% | - |
| 2024 | $255M | $19M | $-213M | $34M | -44.9% | -8.7% | - |
| 2023 | $279M | $-5M | $-36M | $-22M | -5.2% | -17.3% | -149.4% |
| 2022 | $338M | $131M | $72M | $20M | 10.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 337.57 | 279.08 | 254.69 | 298.33 |
| 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 |
| Operating Income | 102.91 | 0.13 | -7.20 | 11.36 |
| EBITDA | 131.22 | -5.19 | 18.76 | 52 |
| EBIT | 96.19 | -44.59 | -18.93 | 11.43 |
| Pretax Income | 96.51 | -44.06 | -18.51 | 11.73 |
| Tax Provision | 24.29 | -8.39 | 194.33 | 0.54 |
| Net Income | 72.22 | -35.67 | -212.84 | 11.19 |
| Net Income Common Stockholders | 72.22 | -35.67 | -212.84 | 11.19 |
| Total Expenses | 234.66 | 278.96 | 261.89 | 286.97 |
| Interest Expense | -0.32 | -0.53 | -0.42 | -0.30 |
| Interest Income | 0.18 | 0.30 | 1.71 | 2.43 |
| Selling General And Administration | 31.80 | 32.42 | 32.97 | 36.70 |
| Normalized EBITDA | 138.69 | 38.91 | 31.42 | 52.69 |
| Normalized Income | 77.81 | 0.04 | -202.84 | 11.84 |
| Basic EPS | 5.49 | -2.80 | -16.53 | 0.86 |
| Diluted EPS | 5.37 | -2.80 | -16.53 | 0.85 |
| Tax Effect Of Unusual Items | -1.88 | -8.38 | -2.66 | -0.03 |
| Tax Rate For Calcs | 0.25 | 0.19 | 0.21 | 0.05 |
| Total Unusual Items | -7.47 | -44.09 | -12.66 | -0.69 |
| Total Unusual Items Excluding Goodwill | -7.47 | -44.09 | -12.66 | -0.69 |
| Net Income From Continuing Operation Net Minority Interest | 72.22 | -35.67 | -212.84 | 11.19 |
| Reconciled Depreciation | 35.03 | 39.40 | 37.69 | 40.57 |
| Reconciled Cost Of Revenue | 196.16 | 242.24 | 225.61 | 243.51 |
| Net Interest Income | 0.07 | 0.30 | 1.60 | 2.20 |
| Net Income From Continuing And Discontinued Operation | 72.22 | -35.67 | -212.84 | 11.19 |
| Total Operating Income As Reported | 95.44 | -43.97 | -19.86 | 10.66 |
| Diluted Average Shares | 13.45 | 12.76 | 12.88 | 13.17 |
| Basic Average Shares | 13.15 | 12.76 | 12.88 | 13.01 |
| Diluted NI Availto Com Stockholders | 72.22 | -35.67 | -212.84 | 11.19 |
| Net Income Including Noncontrolling Interests | 72.22 | -35.67 | -212.84 | 11.19 |
| Net Income Continuous Operations | 72.22 | -35.67 | -212.84 | 11.19 |
| Other Income Expense | -6.48 | -44.49 | -12.91 | -1.83 |
| Other Non Operating Income Expenses | 0.30 | 0.10 | 0.04 | -0.76 |
| Special Income Charges | -7.47 | -44.09 | -12.66 | -0.69 |
| Gain On Sale Of Ppe | -7.47 | -0.81 | -1.95 | 1.18 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 43.29 | 10.71 | 1.87 |
| Earnings From Equity Interest | 0.69 | -0.49 | -0.30 | -0.37 |
| Net Non Operating Interest Income Expense | 0.07 | 0.30 | 1.60 | 2.20 |
| Total Other Finance Cost | 0.42 | 0.53 | 0.53 | 0.53 |
| Interest Expense Non Operating | -0.32 | -0.53 | -0.42 | -0.30 |
| Interest Income Non Operating | 0.18 | 0.30 | 1.71 | 2.43 |
| Other Operating Expenses | 6.70 | 4.30 | 3.31 | 6.75 |
| Operating Revenue | 329.08 | 271.40 | 247.81 | 291.38 |
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 | $517M | 45.31↑ premium | 1.03 | 2.3% | 6.92 |
| Rayonier Advanced Materials Inc. | RYAM | $633M | - | 1.99 | -128.8% | 9.78 |
| Idaho Strategic Resources, Inc. | IDR | $630M | 34.96 | 5.79 | 15.1% | 32.20 |
| ASP Isotopes Inc. | ASPI | $622M | - | 2.70 | -66.6% | -10.06 |
| SunCoke Energy, Inc. | SXC | $568M |
| - |
| 0.95 |
| -7.1% |
| 5.67 |
| Gevo, Inc. | GEVO | $461M | - | 0.96 | -7.2% | 83.72 |
| Lifezone Metals Limited | LZM | $441M | - | 5.49 | -18.7% | -27.33 |
| Caledonia Mining Corporation Plc | CMCL | $436M | 7.98 | 1.68 | 19.5% | 3.77 |
| Valhi, Inc. | VHI | $414M | - | 0.41 | -4.2% | 18.62 |
| Peer Median | - | 21.47 | 1.83 | -7.1% | 7.73 | |