NTR
Nutrien Ltd.
NTR's fundamentals are strong: its operating margin rose 4 points to 15% and earnings per share grew 77%. At 14x earnings, it's trading below its usual 19x. Analysts expect earnings growth, though they disagree widely on how much.
NTR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Healthy |
NTR's revenue, profitability, cash flow and balance sheet are all currently healthy.
NTR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.3x | $36.14 | -49% |
| Forward | 13x | $71.22 | — |
| Current | 14x | $71.22 | — |
| Fair | 19x | $92.91 | +30% |
| Expensive | 39x | $191 | +168% |
Historical ranges are pointers, not guarantees.
NTR's PE is in its fair range at 14x. If earnings grow as analysts expect, today's price would be 13x next year's earnings, in its cheap range.
NTR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| Low |
Analysts expect NTR's earnings to grow, with its revenue and profitability holding steady. However, they disagree widely on these estimates.
NTR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.38 | +8.9% |
| Q2 2026 | $4.94 | +77% |
| Q1 2026 | $4.91 | +359% |
| Q4 2025 | $4.66 | +240% |
| Q3 2025 | $3.69 | +146% |
| Q2 2025 | $2.79 | +73% |
| Q1 2025 | $1.07 | -38% |
| Q4 2024 | $1.37 | -46% |
| Q3 2024 | $1.50 | -65% |
NTR's earnings per share have fallen from their peak: $4.94 over the past year, against $14.08 in late 2022.
NTR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $10.8B | +3.6% |
| Q1 2026 | $6B | +19% |
| Q4 2025 | $5.3B | +5.1% |
| Q3 2025 | $6B | +12% |
| Q2 2025 | $10.4B | +2.8% |
| Q1 2025 | $5.1B | -5.4% |
| Q4 2024 | $5.1B | -10% |
| Q3 2024 | $5.3B | -5% |
NTR's revenue has grown year over year for five quarters in a row: $10.8B last quarter, up 3.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 18% | +1.3 points |
| Q1 2026 | 8.4% | +4 points |
| Q4 2025 | 14% | +5.2 points |
| Q3 2025 | 15% | +9.6 points |
| Q2 2025 | 17% | +8.8 points |
| Q1 2025 | 4.4% | -3.4 points |
| Q4 2024 | 9.3% | +1 points |
| Q3 2024 | 5% | +5 points |
NTR's operating margin was 18% last quarter, up 1.3 points from the same quarter a year ago.
NTR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $2B | -5.7% |
| Q1 2026 | -$1.1B | +$247.9M |
| Q4 2025 | $2.2B | -9.6% |
| Q3 2025 | -$933.8M | +$503.2M |
| Q2 2025 | $2.1B | +65% |
| Q1 2025 | -$1.4B | -$542M |
| Q4 2024 | $2.4B | -27% |
| Q3 2024 | -$1.4B | -$334M |
NTR still generates free cash flow, though less than at its 2022 peak: $2.1B over the past year.
NTR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -1.8M shares |
| 1 year | -1.6% | -7.8M shares |
| 3 years | -3.2% | -16.1M shares |
| 5 years | -16% | -92.1M shares |
| Available history | -16% | -93.9M shares |
NTR has 480M diluted shares, down 1.6% from a year ago, with $617M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $173M |
| Q1 2026 | $145M |
| Q4 2025 | $152.4M |
| Q3 2025 | $146.6M |
| Q2 2025 | $105M |
| Q1 2025 | $148M |
| Q4 2024 | $134M |
| Q3 2024 | $50M |
NTR spent $617M buying back its own shares over the past year, up 41% from the year before.
NTR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.0x | Healthy |
| Q3 2025 | 2.4x | Moderate |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 3.4x | Elevated |
| Q4 2024 | 2.8x | Moderate |
| Q3 2024 | 3.5x | Elevated |
NTR's net debt is about 1.9 years of its operating earnings (EBITDA), down from 2.5 years a year ago.
NTR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.3 | Neutral |
| Stochastic | 35.8 | Neutral |
NTR's weekly RSI is 51 (neutral) and its Stochastic is 36 (neutral).
NTR PE vs Basic Materials Sector
| Metric | NTR | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 19x | 23% below |
| PE % | 34 | 40 | 6 pts below |
NTR is trading at 14x earnings, a 23% discount to the Basic Materials sector's median of 19x.
NTR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $70.4 | 1.2% above |
| 20 week MA | $70.7 | 0.7% above |
| 50 week MA | $69.8 | 2% above |
| 100 week MA | $62.5 | 14% above |
| 200 week MA | $60.1 | 18% above |
NTR is in an uptrend: it's above all five of its weekly moving averages, and 18% above its 200-week average.
NTR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $48.1 | $47.3 | -1.7% |
| 2021 | $47.3 | $75.0 | +59% |
| 2022 | $75.0 | $74.1 | -1.3% |
| 2023 | $74.1 | $56.3 | -24% |
| 2024 | $56.3 | $44.3 | -21% |
| 2025 | $44.3 | $62.8 | +42% |
| 2026 YTD | $62.8 | $71.2 | +13% |
NTR has finished lower in four of the last six years. It's up 13% so far in 2026.