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Icahn Enterprises

Nasdaq:IEP
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IEP
Nasdaq
$14B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. The last earnings update was 53 days ago. More info.


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  • Icahn Enterprises is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
IEP Share Price and Events
7 Day Returns
-0.1%
NasdaqGS:IEP
2%
US Industrials
2.2%
US Market
1 Year Returns
-2.3%
NasdaqGS:IEP
-0.8%
US Industrials
3.8%
US Market
IEP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Icahn Enterprises (IEP) -0.1% -0.3% -4.7% -2.3% 36.6% -29.8%
US Industrials 2% 5.7% 1.2% -0.8% -21.2% -9.3%
US Market 2.2% 4.2% 4.4% 3.8% 43% 40.9%
1 Year Return vs Industry and Market
  • IEP underperformed the Industrials industry which returned -0.8% over the past year.
  • IEP underperformed the Market in United States of America which returned 3.8% over the past year.
Price Volatility
IEP
Industry
5yr Volatility vs Market

IEP Value

 Is Icahn Enterprises undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Icahn Enterprises to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Icahn Enterprises.

NasdaqGS:IEP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:IEP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.882 (1 + (1- 21%) (58.96%))
1.197
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.197 * 5.96%)
9.86%

Discounted Cash Flow Calculation for NasdaqGS:IEP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Icahn Enterprises is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:IEP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.86%)
2019 1,102.88 Est @ 28.06% 1,003.89
2020 1,328.55 Est @ 20.46% 1,100.74
2021 1,529.72 Est @ 15.14% 1,153.65
2022 1,704.38 Est @ 11.42% 1,169.99
2023 1,854.57 Est @ 8.81% 1,158.81
2024 1,984.16 Est @ 6.99% 1,128.50
2025 2,097.45 Est @ 5.71% 1,085.85
2026 2,198.47 Est @ 4.82% 1,035.98
2027 2,290.59 Est @ 4.19% 982.50
2028 2,376.54 Est @ 3.75% 927.86
Present value of next 10 years cash flows $10,747.78
NasdaqGS:IEP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $2,376.54 × (1 + 2.73%) ÷ (9.86% – 2.73%)
$34,233.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $34,233.69 ÷ (1 + 9.86%)10
$13,365.77
NasdaqGS:IEP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $10,747.78 + $13,365.77
$24,113.54
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $24,113.54 / 196.24
$122.88
NasdaqGS:IEP Discount to Share Price
Calculation Result
Value per share (USD) From above. $122.88
Current discount Discount to share price of $70.01
= -1 x ($70.01 - $122.88) / $122.88
43%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Icahn Enterprises is available for.
Intrinsic value
43%
Share price is $70.01 vs Future cash flow value of $122.88
Current Discount Checks
For Icahn Enterprises to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Icahn Enterprises's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Icahn Enterprises's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Icahn Enterprises's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Icahn Enterprises's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:IEP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.93
NasdaqGS:IEP Share Price ** NasdaqGS (2019-06-21) in USD $70.01
United States of America Industrials Industry PE Ratio Median Figure of 5 Publicly-Listed Industrials Companies 21.81x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Icahn Enterprises.

NasdaqGS:IEP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:IEP Share Price ÷ EPS (both in USD)

= 70.01 ÷ -0.93

-75.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Icahn Enterprises is loss making, we can't compare its value to the US Industrials industry average.
  • Icahn Enterprises is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Icahn Enterprises's expected growth come at a high price?
Raw Data
NasdaqGS:IEP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -75.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
90%per year
United States of America Industrials Industry PEG Ratio Median Figure of 5 Publicly-Listed Industrials Companies 1.86x
United States of America Market PEG Ratio Median Figure of 2,134 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Icahn Enterprises, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Icahn Enterprises's assets?
Raw Data
NasdaqGS:IEP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $34.71
NasdaqGS:IEP Share Price * NasdaqGS (2019-06-21) in USD $70.01
United States of America Industrials Industry PB Ratio Median Figure of 6 Publicly-Listed Industrials Companies 4.31x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.81x
NasdaqGS:IEP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:IEP Share Price ÷ Book Value per Share (both in USD)

= 70.01 ÷ 34.71

2.02x

* Primary Listing of Icahn Enterprises.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Icahn Enterprises is good value based on assets compared to the US Industrials industry average.
X
Value checks
We assess Icahn Enterprises's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Industrials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Industrials industry average (and greater than 0)? (1 check)
  5. Icahn Enterprises has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

IEP Future Performance

 How is Icahn Enterprises expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
90%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Icahn Enterprises expected to grow at an attractive rate?
  • Icahn Enterprises's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Icahn Enterprises's earnings growth is expected to exceed the United States of America market average.
  • Icahn Enterprises's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:IEP Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:IEP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 90%
NasdaqGS:IEP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 11.3%
United States of America Industrials Industry Earnings Growth Rate Market Cap Weighted Average 16.5%
United States of America Industrials Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:IEP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:IEP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 13,923 370 1
2020-12-31 12,412 303 1
2019-12-31 10,301 -176 1
NasdaqGS:IEP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 10,580 1,222 -171
2018-12-31 11,702 915 299
2018-09-30 20,441 -196 631
2018-06-30 20,845 -985 1,227
2018-03-31 10,917 -1,612 2,294
2017-12-31 10,433 -1,428 2,148
2017-09-30 12,425 -581 1,757
2017-06-30 14,308 -274 1,184
2017-03-31 15,717 634 -348
2016-12-31 7,385 1,218 -1,171
2016-09-30 14,911 1,560 -2,008
2016-06-30 13,209 1,587 -2,424

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Icahn Enterprises's earnings are expected to grow significantly at over 20% yearly.
  • Icahn Enterprises's revenue is expected to grow by 11.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:IEP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Icahn Enterprises Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IEP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.57 1.57 1.57 1.00
2020-12-31 1.40 1.40 1.40 1.00
2019-12-31 -0.90 -0.90 -0.90 1.00
NasdaqGS:IEP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.93
2018-12-31 1.66
2018-09-30 3.59
2018-06-30 7.14
2018-03-31 13.70
2017-12-31 13.34
2017-09-30 11.39
2017-06-30 8.03
2017-03-31 -2.47
2016-12-31 -8.55
2016-09-30 -15.04
2016-06-30 -18.57

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Icahn Enterprises is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Icahn Enterprises's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Icahn Enterprises has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

IEP Past Performance

  How has Icahn Enterprises performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Icahn Enterprises's growth in the last year to its industry (Industrials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Icahn Enterprises does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Icahn Enterprises's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Icahn Enterprises's 1-year growth to the US Industrials industry average as it is not currently profitable.
Earnings and Revenue History
Icahn Enterprises's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Icahn Enterprises Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:IEP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 10,580.00 -171.00 1,384.00
2018-12-31 11,702.00 299.00 1,386.00
2018-09-30 20,441.00 631.00 2,662.00
2018-06-30 20,845.00 1,227.00 2,645.00
2018-03-31 10,917.00 2,294.00 1,292.00
2017-12-31 10,433.00 2,148.00 1,269.00
2017-09-30 12,425.00 1,757.00 1,551.00
2017-06-30 14,308.00 1,184.00 1,831.00
2017-03-31 15,717.00 -348.00 2,139.00
2016-12-31 7,385.00 -1,171.00 1,001.00
2016-09-30 14,911.00 -2,008.00 2,221.00
2016-06-30 13,209.00 -2,424.00 2,036.00
2016-03-31 14,002.00 -2,148.00 1,949.00
2015-12-31 15,239.00 -1,170.00 1,908.00
2015-09-30 16,117.00 -535.00 1,801.00
2015-06-30 17,196.00 -451.00 1,814.00
2015-03-31 18,462.00 -180.00 1,742.00
2014-12-31 19,219.00 -366.00 1,625.00
2014-09-30 20,650.00 321.00 1,605.00
2014-06-30 22,138.00 1,132.00 1,545.00
2014-03-31 20,497.00 706.00 1,406.00
2013-12-31 20,773.00 1,005.00 1,417.00
2013-09-30 20,255.00 792.00 1,404.00
2013-06-30 18,998.00 406.00 1,318.00
2013-03-31 18,463.00 602.00 1,337.00
2012-12-31 15,816.00 379.00 1,275.00
2012-09-30 14,615.00 629.00 1,250.00
2012-06-30 12,548.00 514.00 1,250.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Icahn Enterprises has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Icahn Enterprises used its assets less efficiently than the US Industrials industry average last year based on Return on Assets.
  • It is difficult to establish if Icahn Enterprises improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Icahn Enterprises's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Industrials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Icahn Enterprises has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

IEP Health

 How is Icahn Enterprises's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Icahn Enterprises's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Icahn Enterprises is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Icahn Enterprises's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Icahn Enterprises's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Icahn Enterprises Company Filings, last reported 2 months ago.

NasdaqGS:IEP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 11,652.00 7,392.00 2,764.00
2018-12-31 12,905.00 7,326.00 2,656.00
2018-09-30 12,336.00 7,907.00 1,053.00
2018-06-30 12,448.00 7,880.00 875.00
2018-03-31 11,755.00 11,208.00 1,250.00
2017-12-31 11,368.00 7,372.00 1,164.00
2017-09-30 11,198.00 11,198.00 2,038.00
2017-06-30 10,530.00 11,285.00 2,389.00
2017-03-31 8,567.00 11,212.00 2,018.00
2016-12-31 8,017.00 11,119.00 1,833.00
2016-09-30 8,798.00 12,971.00 2,002.00
2016-06-30 8,598.00 12,969.00 1,920.00
2016-03-31 8,508.00 12,530.00 1,876.00
2015-12-31 10,033.00 12,594.00 2,078.00
2015-09-30 12,286.00 12,183.00 2,041.00
2015-06-30 13,442.00 12,121.00 2,154.00
2015-03-31 12,735.00 12,088.00 2,868.00
2014-12-31 12,390.00 11,588.00 2,908.00
2014-09-30 13,872.00 11,520.00 3,080.00
2014-06-30 14,727.00 11,345.00 3,333.00
2014-03-31 12,891.00 11,067.00 3,342.00
2013-12-31 13,309.00 9,295.00 3,262.00
2013-09-30 12,647.00 8,155.00 3,274.00
2013-06-30 11,446.00 8,248.00 3,340.00
2013-03-31 10,929.00 8,189.00 2,437.00
2012-12-31 9,816.00 9,873.00 3,108.00
2012-09-30 9,798.00 8,422.00 3,140.00
2012-06-30 9,702.00 8,205.00 3,209.00
  • Icahn Enterprises's level of debt (63.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (85.7% vs 63.4% today).
  • Debt is not well covered by operating cash flow (16.5%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Icahn Enterprises's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Icahn Enterprises's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Icahn Enterprises has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

IEP Dividends

 What is Icahn Enterprises's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
11.43%
Current annual income from Icahn Enterprises dividends. Estimated to be 11.43% next year.
If you bought $2,000 of Icahn Enterprises shares you are expected to receive $229 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Icahn Enterprises's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Icahn Enterprises's dividend is above the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:IEP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Industrials Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:IEP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 8.00 1.00
2020-12-31 8.00 1.00
2019-12-31 8.00 1.00
NasdaqGS:IEP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 8.000 11.169
2019-03-01 8.000 10.863
2019-02-28 8.000 10.613
2018-11-01 7.000 10.591
2018-08-02 7.000 9.804
2018-03-01 7.000 10.491
2017-08-03 6.000 11.025
2017-05-04 6.000 11.843
2017-03-01 6.000 11.690
2016-11-03 6.000 10.398
2016-05-02 6.000 11.460
2016-02-24 6.000 9.660
2015-11-09 6.000 10.001
2015-11-05 6.000 7.780
2015-08-06 6.000 8.203
2015-02-27 6.000 6.792
2014-11-04 6.000 6.117
2014-08-05 6.000 5.667
2014-05-07 6.000 5.916
2014-03-03 6.000 5.837
2013-08-07 5.000 5.123
2013-02-11 4.000 5.702
2012-11-05 0.398 0.867
2012-08-03 0.395 0.970
2012-04-30 0.395 0.965
2012-03-05 0.393 0.894
2011-11-02 0.390 1.046
2011-08-08 0.390 1.010
2011-05-04 0.390 0.939
2011-03-04 0.967 2.509
2010-11-03 0.967 2.676
2010-08-02 0.967 2.766
2010-05-05 0.967 2.654
2010-03-02 0.967 2.175
2009-11-03 0.967 2.347
2009-08-05 0.967 2.541

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Icahn Enterprises's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Icahn Enterprises's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Icahn Enterprises afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Icahn Enterprises has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IEP Management

 What is the CEO of Icahn Enterprises's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Keith Cozza
COMPENSATION $6,539,608
AGE 39
TENURE AS CEO 5.3 years
CEO Bio

Mr. Keith Cozza has been the Chief Executive Officer and President of Icahn Enterprises G.P. Inc. and Icahn Enterprises, L.P. since February 5, 2014. Mr. Cozza has been the Chief Financial Officer of Icahn Associates Holding LLC since 2006. Mr. Cozza serves as Secretary and Treasurer of Beckton Corp. Mr. Cozza served as an Executive Vice President of Icahn Enterprises G.P. Inc. from February 20, 2013 to February 05, 2014. He served as Chief Operating Officer of Icahn Capital LP since February 2013. He served as a Controller of Icahn Associates Holding LLC from 2004 to 2006. He served as Senior Assurance Associate of Grant Thornton LLP. Mr. Cozza was a Director at Tenneco Inc. from October 1, 2018 until April 01, 2019. He has been Chairman of Xerox Corp. since May 2018. He has been Director of Federal-Mogul Holdings Corporation since January 23, 2017. He served as a Director at Tropicana Entertainment Inc., from 18, 2014 to October 1, 2018. Mr. Cozza serves as a Director of certain wholly-owned subsidiaries of Icahn Enterprises, including: ederal-Mogul Holdings LLC, Icahn Automotive Group LLC since February 2016, IEH Auto Parts, LLC since June 2015 and PSC Metals Inc. since February 2014. He served as Director of FCX Oil & Gas Inc. from October 2015 to April 2016. He has been Director of Icahn Enterprises G.P. Inc. and Icahn Enterprises, L.P since September 28, 2012. He serves as a Director of Herbalife International of America, Inc. He has been a Independent Director of Caesars Entertainment Corporation since March 1, 2019. He served as a Director of Herbalife Ltd. since April 25, 2013 until April 25, 2018. He served as Director at MGM Holdings Inc. from April 2012 to August 2012. He served as a Director of CVR Refining GP LLC and CVR Refining, LP since January 2013 until February 18, 2014. He held non-controlling interest in MGM Holdings through the ownership of securities. He has been Member of the Executive Committee of XO Holdings since August 2011. He served as Director at nutrition company since April 2013 until April 2018. Mr. Cozza holds a B.S. in Accounting from the University of Dayton.

CEO Compensation
  • Keith's compensation has increased whilst company is loss making.
  • Keith's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Icahn Enterprises management team in years:

7.3
Average Tenure
43.5
Average Age
  • The average tenure for the Icahn Enterprises management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Keith Cozza

TITLE
President
COMPENSATION
$7M
AGE
39
TENURE
5.3 yrs

SungHwan Cho

TITLE
CFO & Director
COMPENSATION
$3M
AGE
44
TENURE
7.3 yrs

Peter Reck

TITLE
Chief Accounting Officer
COMPENSATION
$557K
AGE
51
TENURE
7.3 yrs

Michael Nevin

TITLE
MD & Director
AGE
34
TENURE
1 yrs

Angel Montalvo

TITLE
Investor Relations Contact

Andrew Langham

TITLE
General Counsel
AGE
45

Hunter Gary

TITLE
Senior Vice President
AGE
43
TENURE
8.6 yrs
Board of Directors Tenure

Average tenure and age of the Icahn Enterprises board of directors in years:

6.8
Average Tenure
72
Average Age
  • The tenure for the Icahn Enterprises board of directors is about average.
Board of Directors

Carl Icahn

TITLE
Chairman of Board
COMPENSATION
$66K
AGE
82
TENURE
28.6 yrs

Keith Cozza

TITLE
President
COMPENSATION
$7M
AGE
39
TENURE
6.8 yrs

SungHwan Cho

TITLE
CFO & Director
COMPENSATION
$3M
AGE
44
TENURE
6.8 yrs

Michael Nevin

TITLE
MD & Director
AGE
34
TENURE
0.5 yrs

Jack Wasserman

TITLE
Director
COMPENSATION
$40K
AGE
82
TENURE
25.5 yrs

William Leidesdorf

TITLE
Director
COMPENSATION
$35K
AGE
72
TENURE
28.3 yrs

Buzzy Krongard

TITLE
Director
AGE
81
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
05. Mar 19 Buy Jack Wasserman Individual 05. Mar 19 05. Mar 19 500 $77.81 $38,903
07. Aug 18 Buy Jack Wasserman Individual 06. Aug 18 06. Aug 18 200 $79.91 $15,982
X
Management checks
We assess Icahn Enterprises's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Icahn Enterprises has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

IEP News

Simply Wall St News

Should You Expect Icahn Enterprises LP (NASDAQ:IEP) To Continue Delivering An ROE Of 15.7%?

and want to learn about Return on Equity using a real-life example. … However, ROE only measures returns against equity, not debt. … View our latest analysis for Icahn Enterprises

Simply Wall St -

Is Icahn Enterprises LP (NASDAQ:IEP) A Great Dividend Stock?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Over the past 10 years, Icahn Enterprises LP (NASDAQ:IEP) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … Let's dig deeper into whether Icahn Enterprises should have a place in your portfolio.

Simply Wall St -

Is Icahn Enterprises LP (NASDAQ:IEP) Undervalued?

Let's talk about the popular Icahn Enterprises LP (NASDAQ:IEP). … As a large-cap stock, it seems odd Icahn Enterprises is not more well-covered by analysts. … Let’s take a look at Icahn Enterprises’s outlook and value based on the most recent financial data to see if the opportunity still exists?

Simply Wall St -

Should You Buy Icahn Enterprises LP. (NASDAQ:IEP) At $68.92?

So, could the stock still be trading at a low price relative to its actual value? … Great news for investors – Icahn Enterprises is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

What is Behind Icahn Enterprises LP.'s (NASDAQ:IEP) Superior ROE?

See our latest analysis for Icahn Enterprises Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) weighs Icahn Enterprises’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Icahn Enterprises’s equity capital deployed. … Since Icahn Enterprises’s return covers its cost in excess of 11.63%, its use of equity capital is efficient and likely to be sustainable.

Simply Wall St -

What Do Analysts Think About Icahn Enterprises LP.'s (NASDAQ:IEP) Profit Margin?

Margin Calculation for IEP Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 1.89 Billion ÷ 18.96 Billion = 9.96% There has been a contraction in Icahn Enterprises's margin over the past five years, as a result of 4.76% in average revenue growth and decline in net income of -26.70% on average, which means that although revenue has increased, a smaller portion falls in to the bottom line. … Using Icahn Enterprises's margin expectations as a way to understand projections for the future It is expected that margins will keep on contracting, with 7.45% in expected annual revenue growth and net income forecasted to decline annually at -59.35%. … Thus, it is essential to run your own analysis on Icahn Enterprises's future expectations whilst maintaining a watchful eye over cost behaviour, because if the business is able to maintain their revenue trajectory, there may be an opportunity to return to positive earnings growth and attractive returns.

Simply Wall St -

When Should You Buy Icahn Enterprises LP (IEP)?

A question to answer is whether IEP's current trading price of $52.89 reflective of the actual value of the mid-cap? … Great news for investors – IEP is still trading at a fairly cheap price. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

How Financially Strong Is Icahn Enterprises LP (IEP)?

View our latest analysis for Icahn Enterprises Is IEP’s level of debt at an acceptable level? … We can test if IEP’s debt levels are sustainable by measuring interest payments against earnings of a company. … IEP’s high debt levels are not met with high cash flow coverage.

Simply Wall St -

IEP Company Info

Description

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company’s Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services. Its Energy segment refines and markets transportation fuels; and manufactures ammonia and urea ammonium nitrate solution fertilizer products. The company’s Metals segment collects, processes, and sells ferrous and non-ferrous metals, as well as processes and distributes steel pipe and plate products. Its Mining segment produces and sells iron ore products to the steel industry. The company’s Food Packaging segment produces and sells cellulosic, fibrous, and plastic casings for the processed meat and poultry industry. Its Real Estate segment is involved in the rental of office and industrial properties; construction and sale of single-family and multi-family homes, lots in subdivisions and planned communities, and raw land for residential development; and operation of golf and club. The company’s Home Fashion segment manufactures, sources, markets, distributes, and sells home fashion consumer products. Icahn Enterprises L.P. was founded in 1987 and is headquartered in New York, New York.

Details
Name: Icahn Enterprises L.P.
IEP
Exchange: NasdaqGS
Founded: 1987
$13,738,497,342
196,236,214
Website: http://www.ielp.com
Address: Icahn Enterprises L.P.
767 Fifth Avenue,
Suite 4700,
New York,
New York, 10153,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS IEP Depositary Units Nasdaq Global Select US USD 23. Jul 1987
DB 2IN Depositary Units Deutsche Boerse AG DE EUR 23. Jul 1987
BST 2IN Depositary Units Boerse-Stuttgart DE EUR 23. Jul 1987
Number of employees
Current staff
Staff numbers
29,034
Icahn Enterprises employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 00:17
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/05/07
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.