Intrepid Potash, Inc.

Report azionario NYSE:IPI

Capitalizzazione di mercato: US$515.0m

Intrepid Potash Gestione

Criteri Gestione verificati 3/4

Intrepid Potash Il CEO è Kevin Crutchfield, nominato in Dec2024, e ha un mandato di 1.42 anni. la retribuzione annua totale è $ 3.89M, composta da 15.4% di stipendio e 84.6% di bonus, comprese azioni e opzioni aziendali. possiede direttamente 0.81% delle azioni della società, per un valore di $ 4.18M. La durata media del mandato del team dirigenziale e del consiglio di amministrazione è rispettivamente 2.1 anni e 4.4 anni.

Informazioni chiave

Kevin Crutchfield

Amministratore delegato

US$3.9m

Compenso totale

Percentuale dello stipendio del CEO15.43%
Mandato del CEO1.4yrs
Proprietà del CEO0.8%
Durata media del management2.1yrs
Durata media del Consiglio di amministrazione4.4yrs

Aggiornamenti recenti sulla gestione

Recent updates

Articolo di analisi • May 15

Intrepid Potash's (NYSE:IPI) Strong Earnings Are Of Good Quality

When companies post strong earnings, the stock generally performs well, just like Intrepid Potash, Inc.'s ( NYSE:IPI...
Seeking Alpha • Apr 04

Intrepid Potash: Iran-Driven Rally Looks Temporary (Rating Downgrade)

Summary Intrepid Potash is downgraded to Hold as the stock now trades around a fair value, reflecting its premium and increased near-term risks. IPI maintains an excellent financial position with virtually zero debt, strong cash reserves, and a robust balance sheet supporting long-term strategic initiatives. Trio production is set to increase by ~7% in 2026, and the Wendover lithium project adds significant long-term optionality to IPI’s commodity portfolio alongside the XTO Energy agreement. Recent price gains driven by Middle East conflict are likely short-lived, with macroeconomic and commodity-specific headwinds posing risks to demand and valuation. Read the full article on Seeking Alpha
Articolo di analisi • Jan 15

Subdued Growth No Barrier To Intrepid Potash, Inc. (NYSE:IPI) With Shares Advancing 28%

The Intrepid Potash, Inc. ( NYSE:IPI ) share price has done very well over the last month, posting an excellent gain of...
Articolo di analisi • Nov 07

There's Reason For Concern Over Intrepid Potash, Inc.'s (NYSE:IPI) Price

It's not a stretch to say that Intrepid Potash, Inc.'s ( NYSE:IPI ) price-to-sales (or "P/S") ratio of 1.3x right now...
Articolo di analisi • Jul 25

Intrepid Potash (NYSE:IPI) May Have Issues Allocating Its Capital

If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...
Articolo di analisi • May 04

Subdued Growth No Barrier To Intrepid Potash, Inc. (NYSE:IPI) With Shares Advancing 29%

The Intrepid Potash, Inc. ( NYSE:IPI ) share price has done very well over the last month, posting an excellent gain of...
Seeking Alpha • Mar 26

Intrepid Potash: The Recovery May Be Just Getting Started

Summary I maintain my "Buy" rating on Intrepid Potash stock due to recent strength, potential higher potash prices, and promising earnings outlook. IPI benefits from being the sole domestic potash producer in the U.S., with cost-effective production methods and potential gains from upcoming tariffs on Canadian imports. The company's production levels and EBITDA are improving, with significant cost savings and strategic initiatives under the new CEO driving future growth prospects. While risks exist, including potential market flooding by Canadian producers, IPI's solid balance sheet and operational improvements position it well for future shareholder returns. If the new tariffs are fully implemented, this should keep pushing the potash pricing higher, making IPI quite well-positioned to beat the currently depressed EPS consensus. Read the full article on Seeking Alpha
Articolo di analisi • Jan 30

Intrepid Potash, Inc. (NYSE:IPI) Stock Rockets 28% But Many Are Still Ignoring The Company

Intrepid Potash, Inc. ( NYSE:IPI ) shareholders would be excited to see that the share price has had a great month...
Seeking Alpha • Oct 06

Intrepid Potash: A Low-Risk, High-Uncertainty Value Opportunity

Summary Intrepid Potash offers a "low-risk, high uncertainty" value opportunity with a clean balance sheet, positive cash flow, and cheap valuation despite short-term uncertainties. The company faces headwinds such as declining potash prices and the sudden departure of its long-tenured CEO, who is also the largest shareholder. Upside potential includes improved production volumes and capital allocation changes under new leadership, especially if potash prices rebound. While facing indefinite headwinds, IPI is quietly setting up for long-term returns with a low risk of ruin and a high chance of a large payoff. Read the full article on Seeking Alpha
Articolo di analisi • Sep 18

A Look At The Fair Value Of Intrepid Potash, Inc. (NYSE:IPI)

Key Insights Intrepid Potash's estimated fair value is US$27.22 based on 2 Stage Free Cash Flow to Equity With US$25.28...
Seeking Alpha • Jul 25

Intrepid Potash's Lack Of Future Cash Flow Potential Offset By An Attractive Asset Valuation

Summary IPI is overvalued from a cash flow perspective but undervalued from an asset perspective. With CEO Bob Jornayvaz unlikely to return, there is potential for a new CEO to sell off parts of the business. IPI's business primarily sales decreased due to falling potash prices, which look to be improving. Read the full article on Seeking Alpha
Articolo di analisi • May 10

Some Confidence Is Lacking In Intrepid Potash, Inc.'s (NYSE:IPI) P/S

It's not a stretch to say that Intrepid Potash, Inc.'s ( NYSE:IPI ) price-to-sales (or "P/S") ratio of 1.3x right now...
Seeking Alpha • May 02

Intrepid Potash: Undervalued And Potentially Rewarding The Patient

Summary Intrepid Potash shares have been stagnant at around $20 per share, but the market is undervaluing the company compared to its tangible book value. The company is a producer of potash, an essential compound used in agriculture, animal feed, and the oil and gas industry. Despite current low potash prices, there is potential for a rebound due to future supply constraints and increasing demand. Shares are a buy with a price target of $35. Read the full article on Seeking Alpha
Articolo di analisi • Jan 06

Intrepid Potash, Inc.'s (NYSE:IPI) Shareholders Might Be Looking For Exit

With a median price-to-sales (or "P/S") ratio of close to 1.4x in the Chemicals industry in the United States, you...
Articolo di analisi • Dec 15

The Returns At Intrepid Potash (NYSE:IPI) Aren't Growing

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...
Seeking Alpha • Nov 08

The Bottom Fishing Club: Intrepid Potash

Summary Intrepid Potash's stock price has dropped significantly due to bearish potash commodity pricing and weak forecasts for 2024. The company has a strong balance sheet with no debt, and a market capitalization that is significantly below tangible book value. Shares are substantially undervalued and unloved today, holding the potential to double or triple in price over the next 2-3 years. Read the full article on Seeking Alpha
Seeking Alpha • Sep 13

Intrepid Potash: Stay Away As Market Conditions Worsen Significantly

Summary Intrepid Potash has shown short-term bullish momentum but is expected to face challenges due to the poor pricing environment for potash and I think the price will continue to go lower. The company's potash segment makes up a significant portion of its sales, but the average potash price per ton has decreased, impacting earnings, and creating a risky investment scenario. Comparing IPI to Nutrien shows that it has underperformed in terms of stock performance, valuation, and margins, making Nutrien a more favorable option. Read the full article on Seeking Alpha
Articolo di analisi • Sep 08

Intrepid Potash (NYSE:IPI) Is Experiencing Growth In Returns On Capital

If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...
Seeking Alpha • Jun 22

Intrepid Potash: Why I Called It A Day (Rating Downgrade)

Summary Intrepid Potash, Inc. hasn't performed as expected, leading to a cautious stance on the stock despite its current low price. Potash prices have continued to decline, debunking the belief that they would rebound after the Russian invasion and challenging the narrative of limited potash exports. Comparables with the previous year present challenges, and it remains uncertain whether 2024 will offer meaningfully better prospects for Intrepid Potash. Altogether, I'm neutral this name. Read the full article on Seeking Alpha
Articolo di analisi • May 05

Here's Why Intrepid Potash (NYSE:IPI) Can Manage Its Debt Responsibly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Seeking Alpha • Jan 13

Intrepid Potash: Promising But Not At This Price

Summary Lukewarm financial year, recovering from a price bubble. Production is projected to increase in 2023. The company has good fundamentals, but the valuation is still too high. Introduction Over the past year, Intrepid Potash Incorporated (IPI) stock has fallen by 25.19% due to high fertilizer costs and the popping of a bubble created by potash supply shock due to the War in Ukraine. While this wasn't its best year, the company continues to show growth in revenue and sales and benefits from secular growth. Still, not only are macroeconomic risks prevalent, the stock is not trading at an attractive valuation to warrant a sufficient margin of safety. As a result, we place a HOLD rating on the stock and recommend waiting for better buying opportunities. Company Financials Overview IPI is a diversified mineral company that produces potassium (potash), sulfur, salt, and water products that are essential in agriculture, animal feed, and the oil & gas industry. However, it's main two products, which accounted for 91% of total company revenue in Q3 2022, are Potash and its specialty fertilizer Trio. All extraction and production of products are conducted entirely within the United States, with IPI being the only American producer of potash. The locations of extraction and production, or its mines, are concentrated mostly in New Mexico, with the rest coming from Utah. From Q3 2021 to 2022 IPI's financials have been mixed. Over this period, revenue increased by 36% and net profit decreased by 5%. On top of that, net profit margins increased from 10% to 25%. While the company saw some success throughout 2022, it ultimately ended up having a lukewarm year as it saw a great spike in earnings in the middle of the year and later experienced a decline in earnings back to levels not inflated by a supply shock. As a result, the market rightly priced in the decline in earnings. However, the company is still on track to grow, as analysts are predicting earnings that are still above 2019 and 2020 levels before the artificial spike. Seeking Alpha Tailwinds Future Increased Production Through Expansions and Projects IPI has had an intense focus on increasing its Potash and Trio production. According to its Q3 2022 earnings call transcript, one focus is IPI's Moab Cavern Drilling Program, which is on track to have brine production from a new cavern in Moab, Utah by early Q1 of 2023. This brine will be available for the 2023 evaporation season, which in turn will increase Moab's potash production. At its Carlsbad, New Mexico HB Solar Solution mine, they remain on track to significantly increase brine injection rates into the mine in the first quarter of 2023. The more brine injected directly correlates to the future production of additional products. At the Wendover mine, for the first time in several years, they have recently completed their first new deep brine as well. IPI expects to drill more wells in 2023 to sustain the anticipated increased production for numerous years to come. All these projects are extremely promising during a time when the supply of fertilizer is low and demand and price is high. The Projected Strength of the United States Cattle Market in 2023 In Q3 2022, animal feed alongside industrial sales comprised up to 40% of IPI company sales. It is important to note that the war with Russia and Ukraine has also affected livestock feed supply and prices throughout 2022. Farmers in the Midwestern U.S. were financially strained by the war, which in turn disrupted feed exports (primarily corn). However, the initial storm has subsided and the feed market is in for a rebound. Decreasing supply of cattle resulting from the contraction in the cattle industry from 2022 should combine with resurgent demand to provide support for prices throughout the year. If demand for cattle rises, especially for beef production, for which the outlook is very positive, then demand for cattle or livestock feed will also increase. IPI can benefit from this in two ways. First, IPI could capitalize on the increased demand for animal feed with its line of products. Second, since increasing demand for corn or soybeans as an animal feed directly correlates to demand fertilizers in the United States, IPI could seriously profit moving forward through its potash and trio fertilizers. Risk Farmers Deviating from Potassium (Potash) Fertilizers With IPI's potash segment making 54% of its company's revenue throughout the three quarters in 2022, the potash market is both the greatest opportunity for growth and carries the most risk. In 2022, the potash market experienced a supply shock due to the rapid disappearance of Ukrainian and then Russian potash. This resulted in rapid spikes in price, which subsequently resulted in a significant drop in demand, precipitating a cutback in supply, followed by a fall in price. The inflated prices are predicted to drop between 25% to 30% in 2023. This has already been reflected in the poor earnings shown in Q3 2022. While the global shortage will exist soon, the shortage is not enough to counteract the price fluctuations which not only already have taken a big bite out of earnings but are projected to even more so. This anticipated trajectory in potash prices inherently brings uncertainty for IPI in the near future and greatly contributes to our recommendation against a purchase. Valuation Excel After performing a DCF analysis, we believe that IPI is overpriced. Using very optimistic assumptions: a 10% 5 YR growth rate, 7% terminal growth rate, and a 10% discount rate, our model still predicts a lower intrinsic value. Wall St isn't optimistic either, as UBS recently placed a sell rating on the stock, with a $29 price target. This valuation, corroborated by industry analysts shows that IPI is most likely overvalued. ESG IPI's potash is produced from solar solution mining, which is among the safest and most environmentally-friendly production methods. It does this through its Solar Evaporation Mines.
Seeking Alpha • Nov 10

Intrepid Potash: Why I'm Bullish On This Potash Company

Summary Intrepid Potash delivered results below my expectations. Despite everything slowing down, and prices coming down, EPS was very strong in the quarter. As I look at 2023, just around the corner, there's every indication that potash demand will return higher. Investment Thesis Intrepid Potash (IPI) was a stock that I had doubts about heading into the print. I had seen commentary throughout Q3 that fertilizer prices may have caused farmers to defer their potash purchases. And that's exactly what happened. Yet, despite farmers deferring their purchases, revenues were still up 26% y/y. So what's happened here is that as prices become too high and farmers didn't come to the market, potash prices trended lower throughout Q3. But farmers will not be able to defer their potash purchases for many more quarters. Farmers will have to return to the market to replenish their stock inventory. On the one hand, this has deferred that ''stellar'' quarter, I wanted to see. On the other hand, despite all this, earnings in Q3 were very strong. I continue to believe that next year, Intrepid Potash's free cash flow will reach approximately $120 million. That puts the stock priced at approximately 5x next year's free cash flow. Also, keep in mind that this business has no debt and is already sustainably profitable. Here's why I'm bullish on Intrepid Potash. What's Happening in Potash? Investors, myself included, got too interested in the potash shortage story. Prices for potash were going up and up. This saw farmers on mass push back against higher potash prices and delay their purchases. Farmers steadfastly refused to entertain the idea that potash prices will remain elevated. Nutrien Q3 2022 What you can see above is that earlier in 2022, the price of potash jumped higher. Hence, farmers didn't want to pay higher prices, so they deferred their fertilizer purchases. This led to inventory becoming tight. NTR Q3 2022 The graphic above shows how the past several years have fared in terms of the global grain stocks-to-use ratio. It's a proxy for supply-demand. And although it does not pertain directly to potash, it does reflect the overall environment where there's a very limited amount of fertilizer available. While the next graph shows the expected demand for potash over the coming few years. NTR Q3 2022 What you see here is that in 2022 demand is down relative to 2021. But you also see that demand is expected to be higher in 2023 compared with 2022. Yet, for now, investors are so accustomed to investments in potash companies being so disappointing, that investors simply struggle to get behind ''yet another'' lackluster quarter. Or perhaps, better said, it's not so much that the quarter was lackluster. It was that investors know that potash companies are in a favorable environment, that they could possibly be over-earning, and if this is as good as it's going to get, investors want nothing further to do with potash companies. The fear that this is a rerun of 2007 is palpable. Meanwhile, both Intrepid and Nutrien (NTR) contend that 2023 should remain tight leading to strong fundamentals. Revenue Growth Rates Decelerate IPI Stock Valuation The bearish case is that potash companies have already had their best days last year and early this year. However, I don't believe that's the case. In fact, I believe that even though Q3 was poor and Q4 2022 may also be poor, I'm reassured by the following. After everything that happened in Q3, with high inflation and farmers pushing back against the high prices, Intrepid still saw 26% y/y revenue growth. And that is against the tough comparisons of last year! That was the most challenging quarter to overcome, and even in this case, Intrepid still grew y/y. Despite the poor evaporation season, plus low volumes being sold. Earnings Per Share Figure Jumps +220% y/y As I've discussed throughout, despite all that's happened including lower volumes being sold, Intrepid's adjusted EPS was up 223% y/y. This compares with a 135% y/y increase for Nutrien. Or put another way, Intrepid's EPS was higher by more than 100% compared with Nutrien's. Yes, I admit, this still didn't live up to analysts' expectations of $1.74 for Intrepid. But when we look back at the $0.30 of EPS Intrepid reported last year, that's a dramatic improvement to $1.74, I'm confident you'll agree! If we assume that analysts' estimates for Q4 are also slightly too bullish, and EPS for Q4 reaches $2.00 rather than the $2.14 that analysts currently expect, that would mean that this year Intrepid would report $7.03 of EPS. That would put the stock priced at approximately 6x this year's EPS. IPI Stock Valuation -- 5x to 6x Free Cash Flow Note, Intrepid Potash's midpoint capex points to $70 million. Further, we know that for the first 9 months of 2022, Intrepid's EBITDA is up 177% y/y. If we assume that Q4 sees its EBITDA moderate significantly, and only grow by 75% y/y, that would see around $45 million of EBITDA. Hence, 2022 as a whole would report $164 million. Meaning that this year's free cash flow on a normalized basis would reach $94 million. Even if we round this down slightly to $90 million, that would still put Intrepid potash on a path to 7x this year's free cash flow.

Analisi delle retribuzioni degli amministratori delegati

Come è cambiata la remunerazione di Kevin Crutchfield rispetto agli utili di Intrepid Potash?
DataCompenso totaleStipendioUtili della società
Mar 31 2026n/an/a

US$15m

Dec 31 2025US$4mUS$600k

US$11m

Sep 30 2025n/an/a

-US$197m

Jun 30 2025n/an/a

-US$202m

Mar 31 2025n/an/a

-US$206m

Dec 31 2024US$4mUS$46k

-US$213m

Compensazione vs Mercato: La retribuzione totale di Kevin ($USD 3.89M ) è superiore alla media delle aziende di dimensioni simili nel mercato US ($USD 2.59M ).

Compensazione vs guadagni: La retribuzione di Kevin è stata coerente con le performance aziendali dell'ultimo anno.

AMMINISTRATORE DELEGATO

Kevin Crutchfield (64 yo)

1.4yrs
Mandato
US$3,887,607
Compensazione

Mr. Kevin S. Crutchfield was CEO & Director of Microtec Development & Holdings LLC until April 2026. He is CEO & Director of Intrepid Potash, Inc. from December 2, 2024. Mr. Crutchfield was President and D...

Gruppo dirigente

NomePosizioneMandatoCompensazioneProprietà
Kevin Crutchfield
CEO & Director1.4yrsUS$3.89m0.81%
$ 4.2m
Christina Sheehan
General Counsel & Corporate Secretary4yrsUS$997.74k0.21%
$ 1.1m
Cris Ingold
Chief Accounting Officer2.1yrsNessun dato0.098%
$ 503.8k
Richard Kim
Vice President of Operationsless than a yearNessun dato0.035%
$ 180.1k
John Richardson
Director of Investor Relationsno dataNessun datoNessun dato
Zachry Adams
Vice President of Sales & Marketing5.5yrsNessun datoNessun dato
2.1yrs
Durata media
52.5yo
Età media

Gestione esperta: Il team dirigenziale di IPI è considerato esperto (durata media dell'incarico 2.1 anni).

Membri del Consiglio di amministrazione

NomePosizioneMandatoCompensazioneProprietà
Kevin Crutchfield
CEO & Director1.4yrsUS$3.89m0.81%
$ 4.2m
Barth Whitham
Independent Chairman18.1yrsUS$256.98k0.37%
$ 1.9m
Chris Elliott
Independent Director15.8yrsUS$179.98k0.35%
$ 1.8m
Hugh Harvey
Independent Director2.1yrsUS$191.98k0.051%
$ 262.7k
Mary McBride
Independent Director6yrsUS$194.98k0.18%
$ 932.8k
William Zisch
Independent Director4yrsUS$184.31k0.098%
$ 505.4k
Lori Lancaster
Independent Director4.8yrsUS$189.98k0.080%
$ 411.8k
Gonzalo Avendano
Independent Director1.3yrsUS$204.90k0.025%
$ 130.0k
4.4yrs
Durata media
66yo
Età media

Consiglio di amministrazione esperto: I membri del consiglio di amministrazione di IPI sono considerati esperti (durata media dell'incarico 4.4 anni).

Analisi aziendale e situazione dei dati finanziari

DatiUltimo aggiornamento (ora UTC)
Analisi dell'azienda2026/05/31 11:40
Prezzo dell'azione a fine giornata2026/05/29 00:00
Utili2026/03/31
Utili annuali2025/12/31

Fonti dei dati

I dati utilizzati nella nostra analisi aziendale provengono da S&P Global Market Intelligence LLC. I seguenti dati sono utilizzati nel nostro modello di analisi per generare questo report. I dati sono normalizzati, il che può comportare un ritardo nella disponibilità della fonte.

PacchettoDatiTempisticaEsempio Fonte USA *
Dati finanziari della società10 anni
  • Conto economico
  • Rendiconto finanziario
  • Bilancio
Stime di consenso degli analisti+3 anni
  • Previsioni finanziarie
  • Obiettivi di prezzo degli analisti
Prezzi di mercato30 anni
  • Prezzi delle azioni
  • Dividendi, scissioni e azioni
Proprietà10 anni
  • Top azionisti
  • Insider trading
Gestione10 anni
  • Team di leadership
  • Consiglio di amministrazione
Sviluppi principali10 anni
  • Annunci aziendali

* Esempio per i titoli statunitensi, per i titoli non statunitensi si utilizzano forme e fonti normative equivalenti.

Se non specificato, tutti i dati finanziari si basano su un periodo annuale ma vengono aggiornati trimestralmente. Si tratta dei cosiddetti dati TTM (Trailing Twelve Month) o LTM (Last Twelve Month). Per saperne di più.

Modello di analisi e Snowflake

I dettagli del modello di analisi utilizzato per generare questo report sono disponibili sulla nostra pagina Github; abbiamo anche guide su come utilizzare i nostri report e tutorial su Youtube.

Scoprite il team di livello mondiale che ha progettato e realizzato il modello di analisi Simply Wall St.

Metriche di settore e industriali

Le nostre metriche di settore e di sezione sono calcolate ogni 6 ore da Simply Wall St; i dettagli del nostro processo sono disponibili su Github.

Fonti analitiche

Intrepid Potash, Inc. è coperta da 19 analisti. 2 di questi analisti ha fornito le stime di fatturato o di utile utilizzate come input per il nostro report. Le stime degli analisti vengono aggiornate nel corso della giornata.

AnalistaIstituzione
Peter WardBarclays
Farooq HamedBarclays
Edwin CheeBMO Capital Markets Equity Research