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Financials · IEP

Icahn Enterprises L.P. (IEP) financials

For the twelve months ended Sep 30, 2026, Icahn Enterprises L.P. reported $11.05B of revenue and -$1.18B of net income.

Revenue, TTM
$11.05B
Revenue growth, YoY
+16.1%
Net income, TTM
-$1.18B
Net margin
-10.6%
Free cash flow, TTM
-$61.00M
Cash
$2.29B
P/S
0.33
Market cap
$3.67B
Annual revenue$9.66B
FY2016FY2025
Annual net income-$299.00M
FY2016FY2025
Annual free cash flow-$654.00M
FY2016FY2025

IEP revenue and earnings growth

IEP revenueQ3 2026$3.17B

Quarter YoY
+16.4%
QoQ
+6.6%
FY YoY
-3.6%
5Y CAGR
+9.5%
10Y CAGR
-4.5%

IEP revenue was $3.17B in fiscal Q3 2026 (ended Sep 30, 2026), up 16.4% from a year earlier and up 6.6% from the prior quarter. For the full fiscal 2025 it was $9.66B, down 3.6% from fiscal 2024. Compound annual growth was +9.5% over 5 years and -4.5% over 10 years. It rose in 3 of the last 10 fiscal years.

IEP net incomeQ3 2026-$225.00M

IEP net income was -$225.00M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $287.00M a year earlier. For the full fiscal 2025 it was -$299.00M, compared with -$445.00M in fiscal 2024.

IEP free cash flowQ3 2026$116.00M

QoQ
+222.2%

IEP free cash flow was $116.00M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$67.00M a year earlier and up 222.2% from the prior quarter. For the full fiscal 2025 it was -$654.00M, compared with $552.00M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$9.66B$10.02B$10.93B$14.20B$11.34B$6.12B$8.99B$11.78B$12.62B$7.38B
Cost of revenue--------$15.01B$13.41B
Gross profit---------$2.39B-$6.03B
Selling, general and admin$837.00M$783.00M$852.00M$1.25B$1.24B$1.19B$1.38B$1.39B$1.27B$1.00B
Interest expense$504.00M$523.00M$554.00M$568.00M$666.00M$688.00M$605.00M$524.00M$655.00M$692.00M
Pre-tax income-$345.00M-$567.00M-$922.00M$9.00M-$578.00M-$2.58B-$1.74B$223.00M$1.87B-$2.37B
Income tax-$19.00M-$25.00M$90.00M$34.00M-$78.00M-$116.00M$20.00M-$14.00M-$532.00M-$88.00M
Net income-$299.00M-$445.00M-$684.00M-$183.00M-$518.00M-$1.65B-$1.10B$1.48B$2.45B-$1.13B

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.45B$5.24B$5.95B$4.89B$4.44B$3.29B$4.95B$5.34B$1.91B$1.88B
Inventory$845.00M$897.00M$1.05B$1.53B$1.48B$1.58B$1.79B$1.78B$1.73B$2.98B
Goodwill$290.00M$288.00M$288.00M$288.00M$290.00M$294.00M$282.00M$247.00M$327.00M$1.14B
Total assets$14.21B$16.28B$20.86B$27.91B$27.75B$24.99B$24.64B$23.49B$31.80B$33.37B
Total liabilities$10.79B$11.66B$14.79B$18.36B$18.40B$15.73B$13.70B$10.51B$20.43B$25.35B
Shareholders' equity-------$6.56B$11.49B$8.02B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$313.00M$832.00M$3.74B$1.05B$321.00M-$416.00M-$1.46B$923.00M-$1.35B$1.22B
Capital expenditures$341.00M$280.00M$303.00M$338.00M$305.00M$199.00M$250.00M$272.00M$316.00M$247.00M
Free cash flow-$654.00M$552.00M$3.43B$717.00M$16.00M-$615.00M-$1.71B$651.00M-$1.66B$971.00M
Investing cash flow-$402.00M-$215.00M-$290.00M-$260.00M$528.00M-$581.00M$586.00M$2.59B$682.00M-$1.84B
Financing cash flow-$1.10B-$1.32B-$2.38B-$344.00M$293.00M-$653.00M$566.00M-$157.00M$369.00M$58.00M
Dividends paid-----$526.00M$112.00M$97.00M$81.00M$103.00M
Depreciation and amortization$603.00M$511.00M$518.00M$509.00M$517.00M$510.00M$519.00M$508.00M$518.00M$526.00M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-3.6%-8.4%-23.0%25.2%85.2%-31.9%-23.6%-6.7%71.0%-51.7%
Net income growth, YoY--------39.6%--
Gross margin---------18.9%-81.8%
Net margin-3.1%-4.4%-6.3%-1.3%-4.6%-27.0%-12.2%12.6%19.4%-15.3%
Free cash flow margin-6.8%5.5%31.4%5.1%0.1%-10.0%-19.0%5.5%-13.2%13.2%
Return on equity-------22.6%21.4%-14.1%
Return on assets-2.1%-2.7%-3.3%-0.7%-1.9%-6.6%-4.5%6.3%7.7%-3.4%

Source: XBRL data Icahn Enterprises L.P. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

IEP peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
IEP$11.05B+16.1%-$1.18B-10.6%$3.67B
XOM$396.63B+19.0%$40.62B10.2%$671.97B
CVX$233.33B+20.0%$26.98B11.6%$414.27B
COP$67.75B+13.3%$11.56B17.1%$158.99B
BP$192.55B-1.1%$55.00M0.0%$116.72B
MPC$174.80B+31.2%$14.63B8.4%$106.16B
EQNR$106.46B+2.6%$5.04B4.7%$102.80B
VLO$153.33B+24.6%$12.95B8.4%$99.49B
PSX$168.19B+27.5%$12.58B7.5%$98.70B

IEP FAQ

7 questions
  • What is IEP revenue?
    Icahn Enterprises L.P. (IEP) reported $11.05B of revenue for the twelve months ended Sep 30, 2026. That is up 16.1% from the year before. Revenue for fiscal 2025 was $9.66B.
  • Is IEP profitable?
    No. Icahn Enterprises L.P. reported a net loss of $1.18B for the twelve months ended Sep 30, 2026.
  • How much cash and debt does IEP have?
    Icahn Enterprises L.P. reported $2.29B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is IEP revenue growing?
    Icahn Enterprises L.P.'s revenue changed -3.6% in fiscal 2025, to $9.66B. Its compound annual growth rate was +9.5% over 5 years and -4.5% over 10 years.
  • What is IEP free cash flow?
    Icahn Enterprises L.P. generated -$61.00M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $308.00M less capital expenditures.
  • When did IEP last report financial results?
    The latest statements here come from Icahn Enterprises L.P.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this IEP financial data come from?
    Quantisnow builds these statements from the structured XBRL data Icahn Enterprises L.P. files with the SEC. It is provided for information only and is not investment advice.