IEP · CIK 0000813762
ICAHN ENTERPRISES L.P.
Annual figures as reported, FY2014–FY2025. Ratios and growth rates derived on-page.
Petroleum Refining
Company profile
Revenue
$9.7B
▼ −3.6% vs FY2024
Net income
−$299.0M
▲ +32.8% vs FY2024
Free cash flow
−$654.0M
▼ −218.5% vs FY2024
Total assets
$14.2B
▼ −12.7% vs FY2024
Revenue
Annual, as reported
Net income
Losses shown in terracotta
Recent quarters
momentum · last 12 quartersRevenue — Mar ’26 quarter
$2.2B
▲ +18.2% vs Mar ’25
Net income — Mar ’26 quarter
−$459.0M
▼ −8.8% vs Mar ’25
Revenue — trailing 12 months
$10.0B
▲ +6.2% vs Mar ’25
Quarterly revenue
Discrete quarters; Q4 derived from the annual figure
Quarterly net income
Losses shown in terracotta
| Quarter | Revenue | Rev. YoY | Gross margin | Net income | Net margin | Diluted EPS |
|---|---|---|---|---|---|---|
| Mar ’26 | $2.2B | 18.2% | — | −$459.0M | −20.8% | — |
| Dec ’25 | $2.7B | 5.4% | — | $1.0M | 0.0% | — |
| Sep ’25 | $2.7B | −2.4% | — | $287.0M | 10.5% | — |
| Jun ’25 | $2.4B | 7.6% | — | −$165.0M | −7.0% | — |
| Mar ’25 | $1.9B | −24.4% | — | −$422.0M | −22.6% | — |
| Dec ’24 | $2.6B | −5.0% | — | −$98.0M | −3.8% | — |
| Sep ’24 | $2.8B | −7.3% | — | $22.0M | 0.8% | — |
| Jun ’24 | $2.2B | −14.0% | — | −$331.0M | −15.0% | — |
Profitability & returns
quality of earningsMargins
Share of revenue kept at each line
Returns on capital
Net income vs year-end equity and assets
Cash flow
cash generationFree cash flow
Operating cash flow less capital expenditure
Operating cash flow
Net cash from operations
Growth rates
compounding, annualizedRevenue CAGR
−12.0%
3y
+9.5%
5y
−4.5%
10y
Key ratios
derived per fiscal year| Fiscal year | Net margin | FCF margin | ROA |
|---|---|---|---|
| FY2025 | −3.1% | −6.8% | −2.1% |
| FY2024 | −4.4% | 5.5% | −2.7% |
| FY2023 | −6.3% | 31.4% | −3.3% |
| FY2022 | −1.3% | 5.1% | −0.7% |
| FY2021 | −4.6% | 0.1% | −1.9% |
| FY2020 | −27.0% | −10.0% | −6.6% |
| FY2019 | −12.2% | −19.0% | −4.5% |
| FY2018 | 12.6% | 5.5% | 6.3% |
| FY2017 | 19.4% | −13.2% | 7.7% |
| FY2016 | −15.3% | 13.2% | −3.4% |
| FY2015 | −7.8% | −4.0% | −3.3% |
| FY2014 | −1.9% | −9.4% | −1.0% |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2025 | $9.7B | — | — | −$299.0M | — | −$313.0M | $341.0M | $14.2B | $10.8B | — | $1.4B | — |
| FY2024 | $10.0B | — | — | −$445.0M | — | $832.0M | $280.0M | $16.3B | $11.7B | — | $2.6B | — |
| FY2023 | $10.9B | — | — | −$684.0M | — | $3.7B | $303.0M | $20.9B | $14.8B | — | $3.0B | — |
| FY2022 | $14.2B | — | — | −$183.0M | — | $1.1B | $338.0M | $27.9B | $18.4B | — | $2.3B | — |
| FY2021 | $11.3B | — | — | −$518.0M | — | $321.0M | $305.0M | $27.7B | $18.4B | — | $2.3B | — |
| FY2020 | $6.1B | — | — | −$1.7B | — | −$416.0M | $199.0M | $25.0B | $15.7B | — | $1.7B | — |
| FY2019 | $9.0B | — | — | −$1.1B | — | −$1.5B | $250.0M | $24.6B | $13.7B | — | $3.8B | — |
| FY2018 | $11.8B | — | — | $1.5B | — | $923.0M | $272.0M | $23.5B | $10.5B | — | $2.7B | — |
| FY2017 | $12.6B | — | — | $2.5B | — | −$1.3B | $316.0M | $31.8B | $20.4B | — | $1.2B | — |
| FY2016 | $7.4B | — | — | −$1.1B | — | $1.2B | $247.0M | $33.4B | $25.4B | — | $1.8B | — |
| FY2015 | $15.3B | — | — | −$1.2B | — | $748.0M | $1.4B | $36.4B | $26.4B | — | $2.1B | — |
| FY2014 | $19.2B | — | — | −$373.0M | — | −$390.0M | $1.4B | $35.8B | $23.4B | — | $2.9B | — |
Latest filings
the most recent regulatory filingsSCHEDULE 13D/ASEC filing2026-06-29 ↗4Insider ownership filing2026-06-29 ↗8-KCurrent report — material event2026-05-11 ↗10-QQuarterly report2026-05-06 ↗8-KCurrent report — material event2026-05-06 ↗4Insider ownership filing2026-04-17 ↗SCHEDULE 13D/ASEC filing2026-04-17 ↗8-KCurrent report — material event2026-03-05 ↗10-KAnnual report2026-02-26 ↗8-KCurrent report — material event2026-02-25 ↗
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