Intrepid Potash, Inc. (IPI) intrinsic value & 10-year financials
Intrepid Potash, Inc. (IPI) has a Graham intrinsic value of $17.97 per share. At $32.36 on Oct 17, 2026, the stock trades 80% above that value. Over the last 10 fiscal years revenue grew 3.9% a year to $298.3M, with an average return on invested capital of -0.2%.
- Graham intrinsic value
- $17.97
- Share price (Oct 17, 2026)
- $32.36
- Price vs Graham value
- 80% above
- Market cap
- $426.3M
- Revenue (FY2025)
- $298.3M
- Revenue growth (10-yr CAGR)
- 3.9%
- ROIC (10-yr avg)
- -0.2%
- Free cash flow (FY2025)
- $25.5M
IPI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $298.3M | $11.2M | $0.85 | $25.5M | 3.6% | 2.4% |
| FY2024 | $254.7M | -$212.8M | -$16.53 | $33.8M | -7.8% | -3.6% |
| FY2023 | $279.1M | -$35.7M | -$2.80 | -$21.8M | -15.8% | -5.2% |
| FY2022 | $658.0K | $72.2M | $5.37 | $20.1M | 14504.6% | 10.8% |
| FY2021 | $941.0K | $249.8M | $18.66 | $59.3M | 3429.5% | 6.2% |
| FY2020 | $3.9M | -$27.2M | -$2.09 | $14.7M | -603.7% | -5.2% |
| FY2019 | $6.1M | $13.6M | $0.10 | -$14.5M | 267.1% | 3.6% |
| FY2018 | -$5.9M | $11.8M | $0.09 | $47.3M | -263.5% | 3.4% |
| FY2017 | $157.6M | -$22.9M | -$0.20 | $3.2M | -9.1% | -2.7% |
| FY2016 | $210.9M | -$66.6M | -$0.88 | -$32.6M | -27.4% | -11.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Intrepid Potash, Inc. has demonstrated mature, steady growth, with revenue compounding at 3.9% annually over the past decade.
Intrepid Potash, Inc. has historically struggled to out-earn its cost of capital, averaging just -0.2% ROIC.
Over the decade, Intrepid Potash, Inc. shows that management has aggressively returned capital to shareholders by retiring 82.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Intrepid Potash, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $17.97 per share.