Morningstar Rating

Stock Research and Analysis

by Jeffrey Stafford, CFA

Bulls Say

High shipping and storage costs for importers of nitrogen fertilizer limit the amount of competition CF faces in North American markets from regions with low natural gas costs.
Using low-cost natural gas as a feedstock, CF's nitrogen operations currently sit at the low end of the global nitrogen cost curve.
Access to pipelines connecting the company's nitrogen facilities in Louisiana and Oklahoma to the Midwest gives CF a transportation cost advantage. Read more 

Bears Say

North American natural gas prices are highly volatile, and we expect an increase in gas costs for CF in the coming years.
In nitrogen and phosphate, CF competes with many companies that are state owned or government subsidized. Government controlled firms are more likely to produce quantities in excess of demand, disrupting supply/demand balances.
As the world's largest consumer of fertilizers, China is expected to expand its fertilizer production capacity, which could put downward pressure on fertilizer prices. Read more 


Tony Will replaced Steve Wilson as CEO in early 2014. Will was previously the firm's vice president of manufacturing and distribution, having joined CF in 2007 with a background in management consulting. He played a major role in the acquisition of   Read more 


CF Industries is a leading producer and distributor of nitrogen fertilizers. The company operates seven nitrogen facilities in North America and holds joint venture interests   Read more 

Friday Five: 2016 Looks More Likely for Rate Hike 
Watch more 

Premium Membership

View all of our analyst reports with a free trial to Premium.