TacticScaleWhat CVR Energy Does & How It Makes Money (CVI)
Updated October 2026 · reflects CVR Energy's latest reported financials
U.S. oil refiner that also makes renewable diesel and nitrogen fertilizer. It makes most of its money on the gap between what it pays for crude oil and what it gets for the gasoline, diesel and other fuels it sells to retailers, railroads, farm cooperatives and other marketers.
How CVR Energy makes money
It makes most of its money on the gap between what it pays for crude oil and what it gets for the gasoline, diesel and other fuels it sells to retailers, railroads, farm cooperatives and other marketers. It also sells renewable diesel, plus nitrogen fertilizers like UAN and ammonia to farm and industrial customers.
What CVR Energy does
CVR Energy is a U.S. company with three segments: Petroleum, Renewables and Nitrogen Fertilizer. The Petroleum segment is the core. It owns a coking refinery in Kansas that processes medium-sour crude and a second refinery in Oklahoma, and it runs crude gathering and logistics that supply them. It sells gasoline, diesel, jet fuel and distillates to retailers, railroads, farm cooperatives and other refiners. The Renewables segment turns soybean oil, corn oil and other feedstocks into renewable diesel and sells it. The Nitrogen Fertilizer segment runs a plant in Coffeyville, Kansas that makes fertilizer by gasifying pet coke, a byproduct of oil refining, and a facility in East Dubuque, Illinois that makes ammonia, UAN and nitric acid. It sells mainly to agricultural customers, and ammonia also goes to industrial buyers. The company was founded in 1906, has its headquarters in Sugar Land, Texas, and is a subsidiary of Icahn Enterprises Holdings L.P.
Products & services
- Gasoline
- Diesel and distillates
- Jet fuel
- Renewable diesel
- UAN (urea ammonium nitrate) fertilizer
- Ammonia
What is CVR Energy worth?
On an owner-earnings DCF, CVR Energy's most-likely value is about $37 versus a recent price near $58 (36% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$30) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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