IEP Icahn Enterprises L.P. - Depositary Units representing Limited Partner Interests
$6.65
Price · Aug 25, 2026
Fundamentals as of Aug 5, 2026
52W Range
$7–$9
5% of range
Analyst Rating
STRONG BUY
5 analysts
Price Target
$12
+80% upside
P/E (TTM)
—
ROE
—
Net Profit Margin
-3.1%
IEP Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$6.65
Market Cap
—
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$9.66B
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$7 – $9
IEP Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$9.66B
2016-12-31
→
2025-12-31
EPS
—
Free Cash Flow
$-654M
2016-12-31
→
2025-12-31
Margins
-3.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
IEP
Peer Median
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
IEP
Peer Median
Net Profit Margin
-3.1%
11.4%
ROA
-2.0%
5.9%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
IEP
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
IEP
Peer Median
Revenue YoY
-3.6%
—
Revenue CAGR 3Y
-12.0%
—
Revenue CAGR 5Y
9.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
IEP
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Aug. 17, 2026 | $0.5000 |
| May 18, 2026 | $0.5000 |
| March 9, 2026 | $0.5000 |
| Nov. 17, 2025 | $0.5000 |
| Aug. 18, 2025 | $0.5000 |
| May 19, 2025 | $0.5000 |
| March 10, 2025 | $0.5000 |
| Nov. 18, 2024 | $0.5000 |
| Aug. 19, 2024 | $1.0000 |
| May 17, 2024 | $1.0000 |
| March 8, 2024 | $1.0000 |
| Nov. 16, 2023 | $1.0000 |
| Aug. 17, 2023 | $1.0000 |
| May 19, 2023 | $2.0000 |
| March 10, 2023 | $2.0000 |
| Nov. 17, 2022 | $2.0000 |
| Aug. 18, 2022 | $2.0000 |
| May 19, 2022 | $2.0000 |
| March 17, 2022 | $2.0000 |
| Nov. 15, 2021 | $2.0000 |
IEP Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
5 analysts
- Strong Buy 2 40.0%
- Buy 2 40.0%
- Hold 1 20.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
1 analysts · 2026-07-24
Low
$12.00
High
$12.00
Median target
$12.00
+80.5%
Mean target
$12.00
+80.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.41%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.71 | $0.10 | -0.81% |
| Dec. 31, 2025 | $0.00 | $0.17 | -0.17% |
| Sept. 30, 2025 | $0.49 | $0.14 | 0.35% |
| June 30, 2025 | $-0.30 | $0.14 | -0.44% |
| March 31, 2025 | $-0.79 | $0.20 | -0.99% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IEP | — | — | -3.6% | -3.1% | — | — |
| MMM | $84.90B | 26.7 | 1.5% | 13.0% | 76.1% | — |
| HON | $123.94B | 26.5 | 7.8% | 12.6% | 29.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.66B | $10.02B | $10.93B | $14.20B | $11.34B | $6.12B | $8.99B | $11.78B | $12.62B | $7.38B | $15.27B | $19.16B | |
| Cost of Revenue | · | · | · | · | · | · | · | · | $15.01B | $13.41B | $12.74B | $16.48B | |
| SG&A Expense | $837M | $783M | $852M | $1.25B | $1.24B | $1.19B | $1.38B | $1.39B | $1.27B | $1.00B | $1.91B | $1.62B | |
| Operating Expenses | $10.00B | $10.59B | $11.86B | $14.19B | $11.92B | $8.71B | $10.73B | $11.55B | $10.75B | $9.75B | $17.33B | · | |
| Interest Expense | $504M | $523M | $554M | $568M | $666M | $688M | $605M | $524M | $655M | $692M | $1.15B | $847M | |
| Interest Income | $288M | $477M | $636M | $328M | $137M | $169M | $265M | $148M | $127M | $124M | $194M | $217M | |
| Other Non-op | · | · | $-69M | $-177M | $-84M | $-31M | $19M | $0 | $-22M | $42M | $35M | $182M | |
| Pretax Income | $-345M | $-567M | $-922M | $9M | $-578M | $-2.58B | $-1.74B | $223M | $1.87B | $-2.37B | $-2.06B | $-632M | |
| Income Tax | $-19M | $-25M | $90M | $34M | $-78M | $-116M | $20M | $-14M | $-532M | $-88M | $68M | $-103M | |
| Net Income | $-299M | $-445M | $-684M | $-183M | $-518M | $-1.65B | $-1.10B | $1.48B | $2.45B | $-1.13B | $-1.19B | $-373M | |
| Shares (Basic) | · | · | · | · | · | · | · | · | · | · | 126,000,000 | 119,000,000 | |
| Shares (Diluted) | · | · | · | · | · | · | · | · | · | · | 126,000,000 | 119,000,000 | |
| EBITDA | $603M | $511M | $518M | $509M | $517M | $510M | $519M | $447M | $1.00B | $1.01B | $849M | $787M |
Balance Sheet 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.45B | $2.60B | $2.95B | $2.34B | $2.32B | $1.68B | $3.79B | $2.66B | $1.16B | $1.83B | $2.08B | $2.91B | |
| Inventory | $845M | $897M | $1.05B | $1.53B | $1.48B | $1.58B | $1.79B | $1.78B | $1.73B | $2.98B | $2.26B | $1.88B | |
| PP&E (Net) | $3.67B | $3.84B | $3.97B | $4.04B | $4.08B | $4.23B | $4.45B | $4.69B | $5.19B | $10.12B | $9.54B | $8.81B | |
| PP&E (Gross) | $8.34B | $8.40B | $8.20B | $7.97B | $7.67B | $7.21B | $7.12B | $6.99B | $7.14B | $14.01B | $13.64B | $12.42B | |
| Accum. Depreciation | $4.67B | $4.55B | $4.23B | $3.93B | $3.58B | $2.98B | $2.67B | $2.30B | $1.95B | $3.89B | $4.11B | $3.61B | |
| Goodwill | $290M | $288M | $288M | $288M | $290M | $294M | $282M | $247M | $327M | $1.14B | $1.50B | $2.00B | |
| Intangibles | $349M | $409M | $466M | $533M | $595M | $660M | $431M | $501M | $544M | $1.12B | $1.11B | $1.09B | |
| Total Assets | $14.21B | $16.28B | $20.86B | $27.91B | $27.75B | $24.99B | $24.64B | $23.49B | $31.80B | $33.37B | $36.41B | $35.79B | |
| Deferred Tax | $314M | $331M | $399M | $338M | $390M | $568M | $639M | · | · | · | · | · | |
| Total Liabilities | $10.79B | $11.66B | $14.79B | $18.36B | $18.40B | $15.73B | $13.70B | $10.51B | $20.43B | $25.35B | $26.37B | $23.40B | |
| AOCI | · | $-61M | $-55M | $-70M | $-74M | $-80M | $-82M | $-85M | $-1.38B | $-1.58B | $-1.46B | $-1.29B | |
| Stockholders' Equity | · | · | · | · | · | · | · | $6.56B | $5.11B | $2.15B | $3.99B | $5.44B | |
| Liabilities + Equity | $14.21B | $16.28B | $20.86B | $27.91B | $27.75B | $24.99B | $24.64B | $23.49B | $31.80B | $33.37B | $36.41B | $35.79B |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $603M | $511M | $518M | $509M | $517M | $510M | $519M | $508M | $518M | $526M | $849M | $788M | |
| Deferred Tax | $-23M | $-36M | $-48M | $-148M | $-168M | $-49M | $-89M | $-29M | $-560M | $-134M | $-4M | $-183M | |
| Amort. of Intangibles | $58M | $57M | $58M | $61M | $62M | $62M | $44M | $44M | $47M | $32M | $92M | $83M | |
| Restructuring | $10M | $3M | $1M | $2M | $5M | $10M | $18M | $21M | $4M | $5M | $97M | $84M | |
| Other Non-cash | $-594M | $802M | $3.95B | $877M | $490M | $776M | $-792M | $-1.02B | $-4.36B | $1.88B | $1.06B | $-621M | |
| Operating Cash Flow | $-313M | $832M | $3.74B | $1.05B | $321M | $-416M | $-1.46B | $923M | $-1.35B | $1.22B | $748M | $-390M | |
| CapEx | $341M | $280M | $303M | $338M | $305M | $199M | $250M | $272M | $316M | $247M | $1.36B | $1.41B | |
| Investing Cash Flow | $-402M | $-215M | $-290M | $-260M | $528M | $-581M | $586M | $2.59B | $682M | $-1.84B | $-2.38B | $-1.96B | |
| Dividends Paid | · | · | · | · | · | $526M | $112M | $97M | $81M | $103M | · | · | |
| Financing Cash Flow | $-1.10B | $-1.32B | $-2.38B | $-344M | $293M | $-653M | $566M | $-157M | $369M | $58M | $826M | $2.01B | |
| Net Change in Cash | $-1.82B | $-707M | $1.06B | $450M | $1.15B | $-1.65B | $-393M | $3.43B | $27M | $-734M | $-830M | $-349M | |
| Taxes Paid | $-6M | $-66M | $-105M | $180M | $72M | $22M | $-64M | $-20M | $39M | $10M | $-1M | $115M | |
| Free Cash Flow | $-654M | $552M | $3.43B | $717M | $16M | $-615M | $-1.71B | $643M | $-2.43B | $829M | $-645M | $-1.80B | |
| Levered FCF | $-1.13B | $52M | $2.82B | $2.29B | $-560M | $-1.27B | $-2.32B | $111M | $-3.44B | $-63M | $-1.84B | $-2.51B |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -3.1% | -4.4% | -6.3% | -1.3% | -4.6% | -27.0% | -12.2% | 12.8% | 11.2% | -6.9% | -7.8% | -1.9% | |
| Pretax Margin | -3.6% | -5.7% | -8.5% | 0.06% | -5.1% | -42.2% | -19.3% | 2.4% | 9.9% | -13.4% | -13.5% | -3.3% | |
| EBITDA Margin | 6.2% | 5.1% | 4.8% | 3.6% | 4.6% | 8.3% | 5.8% | 3.8% | 4.6% | 6.2% | 5.6% | 4.1% | |
| ROA | -2.0% | -2.4% | -2.8% | -0.66% | -2.0% | -6.7% | -4.6% | 5.5% | 7.5% | -3.2% | -3.3% | -1.1% | |
| ROE | · | · | · | · | · | · | · | 25.9% | 66.9% | -36.7% | -25.3% | -6.5% |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.5 | 0.4 | 0.5 | 0.4 | 0.2 | 0.4 | 0.4 | 0.7 | 0.5 | 0.4 | 0.6 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | 4.8 | 5.1 | 6.2 | 8.7 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -3.6% | -8.4% | -23.0% | 25.2% | 85.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -12.0% | -4.0% | 21.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 9.5% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.66B | $10.02B | $10.93B | $14.20B | $11.34B | $6.12B | $8.99B | $11.78B | $12.62B | $7.38B | $15.27B | $19.16B | |
| Net Income TTM | $-299M | $-445M | $-684M | $-183M | $-518M | $-1.65B | $-1.10B | $1.48B | $2.45B | $-1.13B | $-1.19B | $-373M | |
| Payout Ratio | · | · | · | · | · | -31.8% | -10.2% | 6.4% | · | · | · | · | |
| Annual Payout | · | · | · | · | · | $526M | $112M | $97M | $81M | $103M | · | · |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.98B | $2.21B | $2.70B | $2.73B | $2.37B | $1.87B | $2.56B | $2.79B | $2.20B | $2.47B | $2.69B | $3.01B | $2.56B | $2.67B | $3.40B | $3.50B | |
| SG&A Expense | $203M | $209M | $211M | $218M | $207M | $201M | $205M | $202M | $183M | $193M | $199M | $209M | $215M | $229M | $305M | $315M | |
| Operating Expenses | $3.36B | $2.82B | $2.68B | $2.19B | $2.62B | $2.52B | $2.69B | $2.72B | $2.68B | $2.49B | $2.89B | $2.94B | $2.98B | $3.05B | $3.63B | $3.79B | |
| Interest Expense | $121M | $123M | $125M | $122M | $129M | $128M | $129M | $130M | $128M | $136M | $128M | $148M | $136M | $142M | $139M | $151M | |
| Interest Income | $49M | $47M | $66M | $70M | $69M | $83M | $97M | $115M | $122M | $143M | $155M | $143M | $167M | $171M | $88M | $50M | |
| Other Non-op | · | · | · | · | · | · | · | $-7M | $-4M | $-18M | · | $-3M | $-7M | $-32M | $-28M | $-98M | |
| Pretax Income | $-386M | $-612M | $17M | $538M | $-246M | $-654M | $-133M | $67M | $-482M | $-19M | $-197M | $66M | $-417M | $-374M | $-222M | $-285M | |
| Income Tax | $2M | $-49M | $-27M | $127M | $-45M | $-74M | $-23M | $-13M | $4M | $7M | $8M | $96M | $2M | $-16M | $-7M | $2M | |
| Net Income | $-355M | $-459M | $1M | $287M | $-165M | $-422M | $-98M | $22M | $-331M | $-38M | $-139M | $-6M | $-269M | $-270M | $-123M | $-128M | |
| EBITDA | $124M | $123M | · | $158M | $132M | $118M | · | $126M | $127M | $129M | · | $133M | $129M | $122M | $131M | $127M |
Balance Sheet 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.22B | $1.30B | $1.45B | $1.79B | $1.80B | $2.18B | $2.60B | $2.29B | $2.22B | $2.47B | · | $2.89B | $2.49B | $2.61B | $2.43B | $2.45B | |
| Inventory | $978M | $927M | $845M | $892M | $905M | $1.00B | $897M | $883M | $970M | $1.04B | · | $1.08B | $1.01B | $1.10B | $1.67B | $1.79B | |
| PP&E (Net) | $3.62B | $3.63B | $3.67B | $3.74B | $3.79B | $3.82B | $3.84B | $3.87B | $3.91B | $3.94B | · | $3.94B | $3.96B | $3.99B | $4.06B | $4.04B | |
| PP&E (Gross) | · | · | $8.34B | · | · | · | $8.40B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $4.67B | · | · | · | $4.55B | · | · | · | · | · | · | · | · | · | |
| Goodwill | $289M | $290M | $290M | $290M | $290M | $288M | $288M | $289M | $288M | $288M | · | $288M | $288M | $288M | $286M | $288M | |
| Intangibles | $330M | $340M | $349M | $368M | $381M | $395M | $409M | $423M | $437M | $452M | · | $487M | $502M | $517M | $547M | $563M | |
| Total Assets | $12.89B | $12.93B | $14.21B | $14.83B | $14.84B | $15.48B | $16.28B | $17.44B | $17.99B | $20.06B | · | $21.76B | $22.21B | $26.27B | $27.52B | $26.89B | |
| Deferred Tax | $282M | $276M | $314M | $317M | $233M | $278M | $331M | $369M | $341M | $390M | · | $354M | $354M | $336M | $344M | $374M | |
| Total Liabilities | $10.74B | $10.59B | $10.79B | $11.41B | $11.42B | $11.74B | $11.66B | $12.62B | $12.60B | $14.44B | · | $15.13B | $15.03B | $17.77B | $17.65B | $16.74B | |
| AOCI | · | · | · | · | $-50M | $-58M | · | $-55M | $-61M | $-57M | · | $-69M | $-63M | $-66M | $-86M | $-81M | |
| Liabilities + Equity | $12.89B | $12.93B | $14.21B | $14.83B | $14.84B | $15.48B | $16.28B | $17.44B | $17.99B | $20.06B | · | $21.76B | $22.21B | $26.27B | $27.52B | $26.89B |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $124M | $123M | $195M | $158M | $132M | $118M | $129M | $126M | $127M | $129M | $134M | $133M | $129M | $122M | $131M | $127M | |
| Amort. of Intangibles | $10M | $9M | $16M | $14M | $14M | $14M | $14M | $14M | $15M | $14M | $14M | $15M | $14M | $15M | $16M | $16M | |
| Restructuring | $2M | · | $3M | $2M | $-2M | $7M | $2M | $0 | $1M | · | $0 | $1M | · | · | · | · | |
| Other Non-cash | · | $733M | · | · | · | $122M | · | · | · | $-342M | · | · | · | $395M | · | · | |
| Operating Cash Flow | $116M | $397M | $-421M | $15M | $275M | $-182M | $244M | $-54M | $893M | $-251M | $115M | $1.64B | $1.75B | $265M | $711M | $709M | |
| CapEx | $80M | $114M | $75M | $82M | $96M | $88M | $88M | $58M | $66M | $68M | $102M | $70M | $73M | $58M | $100M | $99M | |
| Investing Cash Flow | $-76M | $-110M | $-65M | $-33M | $-186M | $-118M | $11M | $-59M | $-92M | $-75M | $-209M | $75M | $-128M | $-63M | $-102M | $-107M | |
| Financing Cash Flow | $-142M | $-412M | $-124M | $-431M | $-485M | $-65M | $250M | $-815M | $-171M | $-587M | $-71M | $-693M | $-1.62B | $1M | $-70M | $102M | |
| Net Change in Cash | $-102M | $-125M | $-606M | $-451M | $-399M | $-364M | $505M | $-926M | $627M | $-913M | $-166M | $1.03B | $-3M | $203M | $541M | $708M | |
| Taxes Paid | $4M | $1M | $-17M | $10M | $-1M | $2M | $-132M | $4M | $37M | $25M | $-200M | $138M | $48M | $5M | $199M | $-61M | |
| Free Cash Flow | · | $283M | · | · | · | $-270M | · | · | · | $-319M | · | · | · | $189M | · | · | |
| Levered FCF | · | $170M | · | · | · | $-384M | · | · | · | $-505M | · | · | · | $53M | · | · |
Profitability 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -11.9% | -20.8% | · | 10.5% | -7.0% | -22.6% | · | 0.79% | -15.0% | -1.5% | · | -0.20% | -10.6% | -10.2% | -3.6% | -3.6% | |
| Pretax Margin | -13.0% | -27.7% | · | 19.7% | -10.4% | -35.0% | · | 2.4% | -21.9% | -0.77% | · | 2.2% | -16.4% | -14.2% | -6.5% | -8.1% | |
| EBITDA Margin | 4.2% | 5.6% | · | 5.8% | 5.6% | 6.3% | · | 4.5% | 5.8% | 5.2% | · | 4.5% | 5.1% | 4.6% | 3.9% | 3.6% | |
| ROA | -2.6% | -3.2% | · | 1.8% | -1.0% | -2.4% | · | 0.11% | -1.7% | -0.16% | · | -0.02% | -1.1% | -1.0% | -0.44% | -0.47% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Valuation (TTM) 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $10.28B | $9.17B | · | $9.75B | $9.23B | $9.33B | · | $10.47B | $10.24B | $10.71B | · | $11.65B | $12.14B | $13.67B | $13.65B | $13.23B | |
| Net Income TTM | $-692M | $-759M | · | $-278M | $-896M | $-769M | · | $-353M | $-644M | $-583M | · | $-668M | $-790M | $-198M | $-76M | $-89M |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $9.66B | $10.02B | $10.93B | $14.20B | $11.34B |
| Net Income | $-299M | $-445M | $-684M | $-183M | $-518M |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-654M | $552M | $3.43B | $717M | $16M |
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Institutional owners (13F) 127 filers · $2.3B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 17 (+2 vs prior Q) | 13 (-4 vs prior Q) | 62 (+34 vs prior Q) | 14 (-22 vs prior Q) | +36.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ICAHN CARL C | $2,234,185,830 | 309,873,208 | 95.51% | Shares |
| MORGAN STANLEY | $33,475,633 | 4,642,945 | 1.43% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,488,414 | 1,593,400 | 0.49% | Put option |
| HBK INVESTMENTS L P | $6,809,845 | 944,500 | 0.29% | Put option |
| FIRST TRUST ADVISORS LP | $6,381,628 | 885,108 | 0.27% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,589,019 | 775,176 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,177,501 | 718,100 | 0.22% | Call option |
| Soviero Asset Management, LP | $5,047,000 | 700,000 | 0.22% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $3,989,840 | 553,376 | 0.17% | Shares |
| GROUP ONE TRADING LLC | $2,944,896 | 408,446 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $2,537,141 | 351,892 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $2,059,897 | 285,700 | 0.09% | Call option |
| SIMPLEX TRADING, LLC | $1,820,589 | 252,509 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $1,407,392 | 195,200 | 0.06% | Put option |
| Invesco Ltd. | $1,153,232 | 159,949 | 0.05% | Shares |
| LPL Financial LLC | $1,128,514 | 156,521 | 0.05% | Shares |
| CITIGROUP INC | $1,089,633 | 151,128 | 0.05% | Shares |
| GOLDMAN SACHS GROUP INC | $962,196 | 133,453 | 0.04% | Shares |
| OSAIC HOLDINGS, INC. | $775,166 | 107,510 | 0.03% | Shares |
| WOLVERINE TRADING, LLC | $710,633 | 83,900 | 0.03% | Call option |
| MGO ONE SEVEN LLC | $656,281 | 91,024 | 0.03% | Shares |
| WOLVERINE TRADING, LLC | $582,736 | 68,800 | 0.02% | Put option |
| Mariner, LLC | $490,422 | 68,020 | 0.02% | Shares |
| IMC-Chicago, LLC | $429,146 | 59,521 | 0.02% | Shares |
| Solutions 4 Wealth, Ltd | $347,840 | 48,244 | 0.01% | Shares |
| Moors & Cabot, Inc. | $347,405 | 48,184 | 0.01% | Shares |
| Focus Partners Wealth | $327,551 | 45,430 | 0.01% | Shares |
| RMR Wealth Builders | $290,851 | 40,340 | 0.01% | Shares |
| Next Level Private LLC | $288,616 | 40,030 | 0.01% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $288,000 | 40,000 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $261,000 | 36,195 | 0.01% | Shares |
| Koshinski Asset Management, Inc. | $245,140 | 34,000 | 0.01% | Shares |
| United Advisor Group, LLC | $235,853 | 32,712 | 0.01% | Shares |
| Kovack Advisors, Inc. | $218,161 | 30,278 | 0.01% | Shares |
| GAMCO INVESTORS, INC. ET AL | $216,300 | 30,000 | 0.01% | Shares |
| WOLVERINE TRADING, LLC | $210,598 | 24,864 | 0.01% | Shares |
| Stablepoint Partners, LLC | $209,746 | 29,091 | 0.01% | Shares |
| M&T Bank Corp | $204,634 | 28,382 | 0.01% | Shares |
| AZZAD ASSET MANAGEMENT INC /ADV | $195,573 | 27,125 | 0.01% | Shares |
| Meridian Wealth Management, LLC | $194,612 | 26,992 | 0.01% | Shares |
| Arrow Investment Advisors, LLC | $192,211 | 26,659 | 0.01% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $184,697 | 25,617 | 0.01% | Shares |
| Cetera Investment Advisers | $181,965 | 25,237 | 0.01% | Shares |
| UBS Group AG | $175,484 | 24,339 | 0.01% | Shares |
| OPPENHEIMER & CO INC | $166,681 | 23,118 | 0.01% | Shares |
| JANE STREET GROUP, LLC | $164,388 | 22,800 | 0.01% | Put option |
| BARCLAYS PLC | $157,899 | 21,900 | 0.01% | Shares |
| VIRTUS ADVISERS, LLC | $148,122 | 20,544 | 0.01% | Shares |
| Brookstone Capital Management | $147,567 | 20,467 | 0.01% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $142,535 | 19,030 | 0.01% | Shares |
| Key Client Fiduciary Advisors, LLC | $142,101 | 19,709 | 0.01% | Shares |
| Sankala Group LLC | $136,491 | 20,028 | 0.01% | Shares |
| Independent Advisor Alliance | $119,297 | 16,546 | 0.01% | Shares |
| Corps Capital Advisors, LLC | $118,633 | 16,454 | 0.01% | Shares |
| Triumph Capital Management | $118,496 | 16,435 | 0.01% | Shares |
| BANK OF AMERICA CORP /DE/ | $111,193 | 15,422 | 0.00% | Shares |
| INSIGNEO ADVISORY SERVICES, LLC | $108,611 | 15,064 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $108,532 | 15,053 | 0.00% | Shares |
| EagleClaw Capital Managment, LLC | $107,210 | 14,870 | 0.00% | Shares |
| CAZ INVESTMENTS LP | $104,350 | 14,473 | 0.00% | Shares |
| Cornerstone Wealth Management, LLC | $93,607 | 12,983 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $89,553 | 12,438 | 0.00% | Shares |
| Kestra Advisory Services, LLC | $89,087 | 12,356 | 0.00% | Shares |
| Beacon Harbor Wealth Advisors, Inc. | $88,417 | 11,350 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $87,832 | 12,182 | 0.00% | Shares |
| Hilton Head Capital Partners, LLC | $76,159 | 10,563 | 0.00% | Shares |
| Allworth Financial LP | $74,786 | 10,372 | 0.00% | Shares |
| Paragon Capital Management Ltd | $73,859 | 10,244 | 0.00% | Shares |
| RAYMOND JAMES FINANCIAL INC | $73,719 | 10,225 | 0.00% | Shares |
| Ancora Advisors LLC | $72,821 | 10,100 | 0.00% | Shares |
| Mountain Hill Investment Partners Corp. | $72,100 | 10,000 | 0.00% | Shares |
| CWM, LLC | $61,465 | 8,141 | 0.00% | Shares |
| Global Retirement Partners, LLC | $60,225 | 8,353 | 0.00% | Shares |
| SUMMIT SECURITIES GROUP LLC | $52,633 | 7,300 | 0.00% | Shares |
| Rockefeller Capital Management L.P. | $51,805 | 7,185 | 0.00% | Shares |
| Steward Partners Investment Advisory, LLC | $40,807 | 5,660 | 0.00% | Shares |
| Anfield Capital Management, LLC | $40,113 | 5,313 | 0.00% | Shares |
| Spire Wealth Management | $39,655 | 5,500 | 0.00% | Shares |
| UMB Bank, n.a. | $25,755 | 3,572 | 0.00% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $21,729 | 3,026 | 0.00% | Shares |
| Aventura Private Wealth, LLC | $18,755 | 2,601 | 0.00% | Shares |
| LANARK FINANCIAL, INC. | $17,478 | 2,424 | 0.00% | Shares |
| Lodestone Wealth Management LLC | $16,177 | 2,244 | 0.00% | Shares |
| IFP Advisors, Inc | $15,415 | 2,138 | 0.00% | Shares |
| Tower Research Capital LLC (TRC) | $12,654 | 1,755 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $12,639 | 1,753 | 0.00% | Shares |
| VIMA LLC | $10,828 | 1,502 | 0.00% | Shares |
| State of Wyoming | $8,594 | 1,192 | 0.00% | Shares |
| Axiom Investment Management LLC | $7,210 | 1,000 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $6,528 | 905 | 0.00% | Shares |
| TUCKER ASSET MANAGEMENT LLC | $6,280 | 832 | 0.00% | Shares |
| Bangor Savings Bank | $5,263 | 730 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $4,413 | 612 | 0.00% | Shares |
| HRT FINANCIAL LP | $3,742 | 519,074 | 0.00% | Shares |
| Bogart Wealth, LLC | $2,489 | 345 | 0.00% | Shares |
| TRUST CO OF TOLEDO NA /OH/ | $2,466 | 342 | 0.00% | Shares |
| Arax Advisory Partners | $2,445 | 339 | 0.00% | Shares |
| MPWM ADVISORY SOLUTIONS, LLC | $2,437 | 338 | 0.00% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $2,365 | 328 | 0.00% | Shares |
| Indiana Trust & Investment Management Co | $1,853 | 257 | 0.00% | Shares |
Company insiders 11 insiders · 6 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ted Papapostolou | President and CEO | Aug. 14, 2026 A | 0 | 0 | 0 | $0 |
| David Willetts | President and CEO | Dec. 9, 2021 A | — | 0 | 0 | $0 |
| Robert Flint | Chief Financial Officer | Aug. 14, 2026 A | 0 | 0 | 0 | $0 |
| Sunghwan Cho | Chief Financial Officer | March 1, 2013 P | 1,100 | 0 | 0 | $0 |
| Daniel A Ninivaggi | President | March 1, 2013 P | 1,500 | 0 | 0 | $0 |
| Keith Cozza | EXECUTIVE VICE PRESIDENT | March 1, 2013 P | 2,000 | 0 | 0 | $0 |
| ICAHN CARL C | Director | June 25, 2026 J | 618,393,343 | 0 | 0 | $0 |
| Brett Icahn | Director | Sept. 30, 2024 F | 345,761 | 0 | 0 | $0 |
| Jack Gumpert Wasserman | Director | Aug. 6, 2018 P | 1,062 | 0 | 0 | $0 |
| James Larry Nelson | Director | Feb. 22, 2017 P | 1,292 | 0 | 0 | $0 |
| Meister, Keith A. | — | June 29, 2005 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 11 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors LLC, Thornwood Associates Limited Partnership, Barberry Corp., Starfire Holding Corporation, Little Meadow Corp., Carl C. Icahn ×7 filings | June 29, 2026 | 87.28% | Amendment | — | SEC |
| CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors LLC, Thornwood Associates Limited Partnership, Barberry Corp., Starfire Holding Corporation, Little Meadow Corp., Carl C. Icahn | Aug. 15, 2025 | 87.09% | Amendment | — | SEC |
| CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors LLC, Thornwood Associates Limited Partnership, Barberry Corp., Starfire Holding Corporation, Little Meadow Corp., Carl C. Icahn ×37 filings | Sept. 27, 2024 | — | Initial filing | — | SEC |
| Aug. 19, 2024 | — | Initial filing | — | SEC | |
| July 5, 2024 | — | Initial filing | — | SEC | |
| July 10, 2023 | — | Initial filing | — | SEC | |
| Barberry Corp., CCI Offshore LLC, CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors LLC, Modal LLC, Thornwood Associates Limited Partnership, Starfire Holding Corporation, Little Meadow Corp., Tramore LLC, Carl C. Icahn ×6 filings | Dec. 29, 2015 | — | Initial filing | — | SEC |
| Arnos Sub Corp., Barberry Corp., Caboose Holding LLC, CCI Offshore LLC, CCI Onshore LLC, Gascon Partners, High Coast Limited Partnership, Highcrest Investors Corp., Icahn Management LP, Modal LLC, Thornwood Associates Limited Partnership, Arnos Corp., Unicorn Associates Corporation, ACF Industries Holding Corp., Buffalo Investors Corp., Starfire Holding Corporation, Odysseus Holding Corp., Little Meadow Corp., CCI Manager LLC, Carl C. Icahn ×3 filings | Aug. 10, 2010 | — | Initial filing | — | SEC |
| High Coast Limited Partnership S.S. OR, Little Meadow Corp. S.S. OR, Barberry Corp. S.S. OR, Gascon Partners S.S. OR, Astral Gas Corp. S.S. OR, Unicorn Associates Corporation S.S. OR, ACF Industries Holding Corp. S.S. OR, Highcrest Investors Corp. S.S. OR, Buffalo Investors Corp. S.S. OR, Starfire Holding Corporation S.S. OR, Icahn Management LP S.S. OR, CCI Manager LLC S.S. OR, CCI Offshore LLC S.S. OR, Odysseus Holding Corp. S.S. OR, CCI Onshore LLC S.S. OR, Thornwood Associates Limited Partnership S.S. OR, Carl C. Icahn S.S. OR ×2 filings | Dec. 3, 2008 | — | Initial filing | — | SEC |
| Sept. 8, 2006 | — | Initial filing | — | SEC | |
| High Coast Limited Partnership, Little Meadow Corp., Barberry Corp., Gascon Partners, Cigas Corp., Astral Gas Corp., Unicorn Associates Corporation, ACF Industries Holding Corp., Highcrest Investors Corp., Buffalo Investors Corp., Starfire Holding Corporation, Cyprus, LLC, Carl C. Icahn ×3 filings | July 1, 2005 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 5 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| BSJR · Invesco Exchange-Traded Self-Indexe… | 2.14% | 19,333,000 | Aug. 21, 2026 | Daily |
| MDIV · First Trust Exchange-Traded Fund VI | 1.53% | 885,108 NS | June 30, 2026 | N-PORT |
| CVY · Invesco Exchange-Traded Fund Trust | 0.90% | 168,169 | Aug. 21, 2026 | Daily |
| GYLD · ARROW ETF TRUST | 0.69% | 26,659 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 193,102 NS | May 31, 2026 | N-PORT |