Corteva Inc. (CTVA) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$2.23	$2.3	+3.1%	—	—	—
Q1 26	$1.18	$1.5	+27.1%	—	$4.9B	—
Q4 25	$0.22	$0.22	0.0%	—	$3.9B	—
Q3 25	-$0.47	-$0.23	+51.1%	—	$2.6B	—
Q2 25	$1.88	$2.2	+17.0%	—	$6.5B	—
Q1 25	$0.88	$1.13	+28.4%	—	$4.4B	—
Q4 24	$0.31	$0.32	+3.2%	—	$4B	—
Q3 24	-$0.3	-$0.49	-63.3%	—	$2.3B	—
Q2 24	$1.72	$1.83	+6.4%	—	$6.1B	—
Q1 24	$0.83	$0.89	+7.2%	—	$4.5B	—
Q4 23	$0.06	$0.15	+150.0%	—	$3.7B	—
Q3 23	-$0.23	-$0.23	0.0%	—	$2.6B	—
Q2 23	$1.58	$1.6	+1.3%	—	$6B	—
Q1 23	$0.93	$1.16	+24.7%	—	$4.9B	—
Q4 22	$0.05	$0.16	+220.0%	—	$3.8B	—
Q3 22	-$0.23	-$0.12	+47.8%	—	$2.8B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.6	—	—	$17.4B	—
FY24	—	$1.31	—	—	$16.9B	—
FY23	—	$1.04	—	—	$17.2B	—
FY22	—	$1.59	—	—	$17.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$14B	$14.2B	$14.3B	$13.8B	$14.2B	$15.7B	$17.5B	$17.2B	$16.9B	$17.4B
YoY change	—	+1.42%	+0.33%	-3.09%	+2.68%	+10.1%	+11.5%	-1.31%	-1.85%	+2.92%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	14B	14.2B	14.3B	13.8B	14.2B	15.7B	17.5B	17.2B	16.9B	17.4B
Cost of revenue	8.4B	8.4B	9.9B	8.6B	8.5B	9.2B	10.4B	9.9B	9.5B	9.2B
Gross profit	5.7B	5.8B	4.3B	5.3B	5.7B	6.4B	7B	7.3B	7.4B	8.2B
Gross margin	40.2%	41%	30.4%	38.1%	40.2%	41.1%	40.2%	42.4%	43.6%	47.3%
Research & development	1.5B	1.5B	1.4B	1.1B	1.1B	1.2B	1.2B	1.3B	1.4B	1.5B
Selling, general & administrative	2.9B	3B	3B	3.1B	3B	3.2B	3.2B	3.2B	3.2B	3.5B
Operating expenses	4.5B	5.4B	4.1B	4.2B	4.2B	4.4B	4.4B	4.5B	4.6B	5B
Operating income	886M	188M	-448M	584M	843M	1.3B	1.9B	2.1B	2.1B	2.6B
Operating margin	6.31%	1.32%	-3.14%	4.22%	5.93%	8.41%	11%	12.2%	12.4%	15.1%
Non-operating income, net	-527M	-488M	-6.1B	-823M	-179M	982M	-547M	-1.1B	-720M	-887M
Pretax income	258M	-374M	-6.8B	-316M	675M	2.3B	1.4B	1.1B	1.3B	1.7B
Income tax	-270M	-2.9B	-31M	-46M	-81M	524M	210M	152M	412M	484M
Net income	528M	2.6B	-5B	-941M	701M	1.8B	1.2B	747M	919M	1.1B
Net margin	3.76%	18%	-35.2%	-6.8%	4.93%	11.3%	6.63%	4.34%	5.44%	6.35%
EBITDA	1.1B	458M	2.7B	2.4B	2.4B	3.9B	3.3B	3.2B	3.3B	3.4B
EPS	0.67	3.38	-6.76	-1.28	0.91	2.39	1.59	1.04	1.31	1.6
Diluted EPS	0.67	3.38	-6.76	-1.28	0.91	2.37	1.58	1.03	1.3	1.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	2.6B	3.7B	4.5B	6.1B	2.3B	4B	4.4B	6.5B	2.6B	3.9B	4.9B	—
Cost of revenue	1.6B	2.4B	2.5B	2.9B	1.6B	2.5B	2.3B	2.9B	1.6B	2.3B	2.4B	—
Gross profit	944M	1.3B	1.9B	3.2B	761M	1.5B	2.1B	3.5B	974M	1.7B	2.5B	—
Gross margin	36.4%	36.2%	43.2%	52.3%	32.7%	37.3%	47%	54.6%	37.2%	42.4%	51.6%	—
Research & development	335M	357M	332M	357M	348M	365M	335M	375M	351M	413M	341M	—
Selling, general & administrative	700M	644M	772M	1.1B	708M	626M	751M	1.2B	731M	842M	877M	—
Operating expenses	1B	1B	1.1B	1.4B	1.1B	991M	1.1B	1.5B	1.1B	1.3B	1.2B	—
Operating income	-265M	165M	661M	1.6B	-465M	327M	827M	1.8B	-270M	242M	1.2B	—
Operating margin	-10.2%	4.45%	14.7%	25.7%	-20%	8.22%	18.7%	28.4%	-10.3%	6.19%	23.5%	—
Non-operating income, net	-180M	-556M	-173M	-194M	-135M	-218M	-39M	-7M	-83M	-770M	-295M	—
Pretax income	-444M	-323M	482M	1.3B	-633M	88M	784M	1.8B	-370M	-530M	858M	—
Income tax	-129M	-92M	106M	282M	-114M	138M	117M	422M	-62M	7M	133M	—
Net income	-318M	-251M	423M	1.1B	-521M	-39M	656M	1.3B	-318M	-549M	723M	—
Net margin	-12.3%	-6.77%	9.42%	17.3%	-22.4%	-0.98%	14.9%	20.4%	-12.1%	-14%	14.7%	—
EBITDA	14M	436M	960M	1.9B	-132M	589M	1.2B	2.2B	58M	-75M	1.4B	—
EPS	-0.45	-0.36	0.6	1.51	-0.76	-0.06	0.95	1.92	-0.47	-0.82	1.07	1.73
Diluted EPS	-0.45	-0.36	0.6	1.51	-0.76	-0.06	0.95	1.92	-0.47	-0.82	1.07	1.73

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	22.2B	29B	34.8B	42.4B	34B	39.5B	45.6B	51.3B
Enterprise value	—	—	—	20.5B	26.3B	31.4B	40.4B	33.7B	39B	43.6B	55.2B
Shares outstanding	749.4M	749.4M	749.4M	749.5M	748.7M	735.9M	720.8M	709M	693.7M	680M	680M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	41.4	19.7	36.6	45.5	43	41.2	47.4
P/S	—	—	—	1.6	2.04	2.22	2.43	1.97	2.34	2.62	2.95
P/B	—	—	—	0.9	1.16	1.36	1.66	1.34	1.64	1.87	2.09
EV/EBITDA	—	—	—	8.43	10.9	7.96	12.2	10.4	11.9	12.9	12.9
EV/Sales	—	—	—	1.48	1.85	2	2.31	1.96	2.31	2.51	3.1
Earnings yield	—	—	—	—	2.42%	5.08%	2.73%	2.2%	2.33%	2.42%	2.11%
FCF yield	—	—	—	-0.42%	5.48%	6.19%	0.63%	3.46%	3.92%	6.18%	4.71%
PEG	—	—	—	—	—	—	—	—	—	—	-4.79

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	40.2%	41%	30.4%	38.1%	40.2%	41.1%	40.2%	42.4%	43.6%	47.3%	48.6%
Operating margin	6.31%	1.32%	-3.14%	4.22%	5.93%	8.41%	11%	12.2%	12.4%	15.1%	30.1%
Net margin	3.76%	18%	-35.2%	-6.8%	4.93%	11.3%	6.63%	4.34%	5.44%	6.35%	5.66%
ROE	—	—	-6.69%	-3.83%	2.8%	6.9%	4.53%	2.96%	3.82%	4.53%	4.26%
ROA	—	—	-4.63%	-2.22%	1.64%	4.18%	2.72%	1.74%	2.25%	2.58%	4.55%
ROIC	—	—	-0.55%	2.55%	3.77%	4.61%	6.99%	7.26%	6.02%	8.33%	8.15%
Return on tangible assets	—	—	-7.83%	103.5%	113.6%	86.6%	28.8%	29.5%	40.7%	20.8%	20.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	1.73	1.64	1.73	1.63	1.56	1.56	1.45	1.43	1.52
Quick ratio	—	—	1.33	1.03	1.16	1.08	0.93	0.9	0.93	0.96	1.03
Debt / equity	—	—	0.11	0	0.04	0.04	0.05	0.1	0.11	0.11	0.19
Debt / assets	—	—	0.07	0	0.03	0.03	0.03	0.06	0.07	0.06	0.08
Net debt / EBITDA	—	—	2.13	-0.68	-1.12	-0.87	-0.61	-0.08	-0.14	-0.57	0.38
Interest coverage	3.55	-4.05	-19.2	-1.32	16	79.2	19.1	5.69	6.47	10.4	10.8
Effective tax rate	0%	0%	0%	0%	0%	22.3%	14.7%	13.9%	32.3%	28.7%	28.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	18.7	19	19.1	18.5	19	21.3	24.2	24.3	24.4	25.6	26.4
EPS (basic)	0.67	3.38	-6.76	-1.28	0.91	2.39	1.59	1.04	1.31	1.6	1.6
EPS (diluted)	0.67	3.38	-6.76	-1.28	0.91	2.37	1.58	1.03	1.3	1.6	1.66
Book value per share	—	—	100.3	32.8	33.5	34.8	35.4	35.7	34.6	35.9	37.7
FCF per share	—	—	-1.36	-0.12	2.12	2.93	0.37	1.66	2.23	4.14	3.04
Cash per share	—	—	3.04	2.36	5.07	6.18	4.6	3.87	4.57	6.66	3.54
Capex per share	—	—	0.09	0.33	0.11	0.1	0.1	0.08	0.01	0.87	0.07

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	0.48%	1.8%	0.58%	0.48%	0.42%	0.33%	0.03%	3.4%	0.26%
Capex / operating cash flow	—	—	-1.83%	90.9%	3.46%	1.84%	6.81%	3.37%	0.23%	17.4%	1.71%
Payout ratio	—	—	-55.8%	-54.3%	55.3%	22.4%	36.1%	58.8%	49.8%	43%	43.6%
Dividend yield	—	—	—	2.31%	1.34%	1.14%	0.99%	1.29%	1.16%	1.04%	0.94%

Yield

0.94%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.18

ex-dividend Sep 1, 2026

Payout ratio

44%

of earnings

Dividend growth

6 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 1, 2026	$0.18
Jun 1, 2026	$0.18
Mar 2, 2026	$0.18
Dec 1, 2025	$0.18
Sep 2, 2025	$0.18
Jun 2, 2025	$0.17
Mar 3, 2025	$0.17
Dec 2, 2024	$0.17

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$2.6B	$3.7B	$4.5B	$6.1B	$2.3B	$4B	$4.4B	$6.5B	$2.6B	$3.9B	$4.9B	—
YoY change	-6.73%	-3.08%	-8.03%	+1.11%	-10.2%	+7.31%	-1.67%	+5.63%	+12.6%	-1.71%	+11%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.3B	1.8B	3.8B	4.5B	3.3B	2.7B	3.2B	4.5B
Receivables	3.6B	4.2B	3.8B	3.4B	4.3B	4.3B	4.6B	5B
Inventory	5.3B	5B	4.9B	5.2B	6.8B	6.9B	5.4B	5.7B
Total current assets	23B	13.5B	14.8B	15.5B	16.8B	16.3B	15.1B	17.3B
Property, plant & equipment	3.1B	3B	2.9B	2.8B	2.7B	2.6B	2.4B	2.4B
Goodwill & intangibles	44.5B	43.3B	42B	40.3B	38.6B	40.5B	38.6B	37.5B
Total assets	108.7B	42.4B	42.6B	42.3B	42.6B	43B	40.8B	42.8B
Accounts payable	2.6B	3.7B	3.6B	4.1B	4.9B	4.3B	4B	4.4B
Short-term debt	2.2B	7M	3M	17M	24M	198M	750M	894M
Total current liabilities	13.3B	8.2B	8.5B	9.6B	10.7B	10.4B	10.4B	12.1B
Long-term debt	5.8B	115M	1.1B	1.1B	1.3B	2.3B	2B	1.7B
Total liabilities	33.5B	17.8B	17.6B	16.7B	17.1B	17.7B	16.8B	18.5B
Shareholders' equity	75.2B	24.6B	25.1B	25.6B	25.5B	25.3B	24B	24.4B
Total debt	7.9B	122M	1.1B	1.1B	1.3B	2.5B	2.7B	2.6B
Net debt	5.7B	-1.6B	-2.4B	-3.3B	-1.9B	-155M	-403M	-1.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	2.6B	2.4B	2.7B	1.7B	2B	2.5B	3.2B	2B	2.1B	2.6B	4.5B	2B
Receivables	5.2B	5.3B	4.3B	6.8B	6.4B	5.5B	4.6B	7.3B	7.4B	6.4B	5B	7.8B
Inventory	5.6B	6.3B	6.9B	6.2B	4.9B	5.7B	5.4B	5.1B	4.3B	5.3B	5.7B	5.2B
Total current assets	17.2B	16.3B	16.3B	17.2B	15.4B	15.6B	15.1B	16.6B	16B	16.4B	17.3B	17.4B
Property, plant & equipment	-4.5B	-4.6B	2.6B	-4.8B	-4.9B	-5B	2.4B	-5.1B	-5.3B	-5.4B	2.4B	-5.4B
Goodwill & intangibles	41B	40.5B	40.5B	40B	39.5B	39.4B	38.6B	38.1B	38.2B	37.9B	37.5B	37.1B
Total assets	44.2B	43.1B	43B	43.6B	41.5B	41.9B	40.8B	42.1B	41.8B	42.2B	42.8B	42.7B
Accounts payable	3.4B	3.7B	4.3B	3.6B	3.3B	3.8B	4B	3.9B	3.8B	4.3B	4.4B	4.2B
Short-term debt	3B	3.6B	198M	2.1B	2.3B	3.7B	750M	2.3B	1.9B	2.7B	894M	1.7B
Total current liabilities	10.3B	10.3B	10.4B	11.3B	9B	10.4B	10.4B	11.5B	9.5B	10.4B	12.1B	11.9B
Long-term debt	2.3B	2.3B	2.3B	2.5B	2.5B	2B	2B	1.8B	1.7B	1.7B	1.7B	1.7B
Total liabilities	17.7B	17.6B	17.7B	18.6B	16B	16.9B	16.8B	17.6B	15.6B	16.7B	18.5B	18.1B
Shareholders' equity	26.5B	25.5B	25.3B	25B	25.4B	25B	24B	24.5B	26.2B	25.5B	24.4B	24.6B
Total debt	5.3B	5.9B	2.5B	4.6B	4.7B	5.7B	2.7B	4.1B	3.6B	4.4B	2.6B	3.4B
Net debt	2.8B	3.6B	-155M	3.1B	2.9B	3.3B	-403M	2.1B	1.6B	1.9B	-1.9B	1.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-5B	-941M	701M	1.8B	1.2B	941M	863M	1.2B
Depreciation & amortization	2.8B	1.6B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B
Stock-based compensation	—	—	—	—	—	—	—	—
Change in working capital	-2.9B	-441M	497M	622M	-1.6B	-786M	-92M	541M
Operating cash flow	-3.8B	274M	2.4B	4.1B	1.1B	1.7B	2.2B	3.4B
Capital expenditure	69M	249M	83M	75M	73M	57M	5M	-591M
Investing cash flow	996M	259M	-199M	211M	-27M	-1.4B	8M	-597M
Dividends paid	-2.8B	-511M	-388M	-397M	-418M	-439M	-458M	-475M
Share repurchases	0	-25M	-275M	-950M	-1B	-756M	-1B	-1.1B
Financing cash flow	-2.7B	-3B	247M	-1.4B	-1.3B	-130M	-1.3B	-1.7B
Net change in cash	-5.5B	-2.4B	2.4B	2.9B	-223M	171M	902M	1.1B
Free cash flow	-1B	-93M	1.6B	2.2B	267M	1.2B	1.5B	2.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	865M	-317M	-40M	376M	1.1B	-490M	-50M	667M	1.4B	-308M	-537M	725M
Depreciation & amortization	306M	306M	312M	307M	312M	306M	302M	296M	301M	300M	306M	297M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	-518M	-81M	3.8B	-3.3B	-1.5B	-850M	3.8B	-3B	-873M	-57M	4.5B	-4.1B
Operating cash flow	772M	-111M	4.4B	-2.6B	-154M	-1B	4.1B	-2.1B	947M	193M	4.4B	-2.9B
Capital expenditure	13M	8M	15M	5M	15M	-18M	3M	8M	-118M	-157M	-222M	-81M
Investing cash flow	68M	-67M	-31M	-122M	79M	-7M	58M	60M	-181M	-151M	-216M	-77M
Dividends paid	-106M	—	—	-112M	—	—	-118M	-116M	-116M	534M	-121M	-121M
Share repurchases	-80M	—	—	-252M	—	—	-252M	-270M	-250M	-250M	-301M	-250M
Financing cash flow	-442M	216M	-2.5B	1.8B	100M	996M	-3.4B	960M	-843M	882M	-2.2B	372M
Net change in cash	398M	38M	1.8B	-1B	25M	-28M	820M	-1.1B	-77M	924M	1.9B	-2.6B
Free cash flow	696M	-261M	4.2B	-2.8B	-395M	-1.1B	4B	-2.2B	829M	36M	4.2B	-3B

Corteva Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement