Forensic Analysis · Energy / Oil & Gas · as of Jun 27, 2026
ICAHN ENTERPRISES L.P. (IEP)
A forensic read on ICAHN ENTERPRISES L.P. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Clean
Earnings quality
4
Forensic signals
-19.4%
ROE
$4.8B
Market cap
27.70%
Dividend yield
ICAHN ENTERPRISES L.P. earns a F (Poor — capital at risk) forensic quality grade. 4 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+7.8%/yrShare-count dilution. Diluted share count changed +24% over the last 3 years to FY2015 (+7.8%/yr). The count is GROWING — existing holders are being diluted. That's ~7.8% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2012 has been diluted ~24%.
6%Return on invested capital. Return on invested capital is 6% and steady — around its ~8% cost of capital, so growth is roughly value-neutral — watch the trend.
$3MGoodwill impairments. Took $3M of goodwill writedowns across 1 year(s) (FY2020 ($3M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
-21%Dividend — cut. The payout was CUT ~21% in FY2017 (from FY2016). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin-3.1%
Free Cash Flow$-654.0M
Latest Revenue$9.66B
Return on Equity-4.6%
Revenue Growth YoY-3.6%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on ICAHN ENTERPRISES L.P.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about IEP's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown
🔒Peer comparison + filing-change monitoring & alerts
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Data from SEC EDGAR public filings · metrics as of Jun 27, 2026. Forensic signals flag probability, not certainty.