Forensic Analysis · Chemicals · as of Nov 8, 2026

Cvr Partners, LP (UAN)

A forensic read on Cvr Partners, LP built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Grey Zone

Financial health

2.1

Distress distance (no retained-earnings input)

Clean

Earnings quality

Forensic signals

35.3%

ROE

15.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Cvr Partners, LP earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 2.1, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

127% of FCF

FY2025

Shareholder returns. Returned $126M to shareholders (buybacks + dividends) in FY2025 — 127% of free cash flow, but 84% of operating cash flow. Returns run ahead of free cash flow because the business is also funding heavy growth capex (usually debt-financed); the payout itself is covered by operating cash — sustainable as long as that spending is genuine expansion, not upkeep. Counting the $10M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 137%.

-75%

FY2023→FY2024

Dividend — cut. The payout was CUT ~75% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$606.0M

Revenue Growth YoY+15.4%

Revenue CAGR (2yr)-5.7%

Net Margin16.3%

Free Cash Flow$98.8M

Return on Equity35.3%

Debt / Equity2.14x

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Data from SEC EDGAR public filings · metrics as of Nov 8, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.