Intrepid Potash Inc (IPI)
NYSE:IPI
Want to see IPI full AI Analyst Report?
Top Page
Intrepid Potash
(NYSE:IPI)
Select Model
Select Model
Rating:73Outperform
Price Target:
$47.00
▲(33.56% Upside)
Action:Reiterated
Date:05/09/26
Overall score is driven primarily by strong financial stability (very low leverage and improved cash generation) and a positive earnings-call setup with clear guidance and boosted liquidity from the asset sale. Offsetting factors are only moderate valuation support (no dividend yield provided) and mixed technical momentum with price below key short-term moving averages and a negative MACD.
Positive Factors
Very strong balance sheet; minimal leverage
Extremely low leverage and a large equity base give Intrepid durable financial flexibility. That conservatism supports sustaining capex, funds project work without heavy refinancing risk, and cushions the business through commodity-driven cycles, preserving optionality for strategic investments.
Negative Factors
Cyclical, volatile earnings and modest margins
Profitability has swung materially year-to-year; mid-single-digit margins and past sharp losses signal exposure to commodity cycles. This volatility complicates multi-year planning, makes cash and return forecasts less reliable, and raises execution risk for growth projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet; minimal leverage
Extremely low leverage and a large equity base give Intrepid durable financial flexibility. That conservatism supports sustaining capex, funds project work without heavy refinancing risk, and cushions the business through commodity-driven cycles, preserving optionality for strategic investments.
Read all positive factors
Intrepid Potash (IPI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$553.31M
Dividend YieldN/A
Average Volume (3M)278.94K
Price to Earnings (P/E)18.9
Beta (1Y)0.40
Revenue Growth9.55%
EPS GrowthN/A
CountryUS
Employees468
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)1.07
Shares Outstanding13,433,030
10 Day Avg. Volume281,414
30 Day Avg. Volume278,943
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)0.73
Price to Sales (P/S)1.21
P/FCF Ratio14.13
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue1.53
Enterprise Value/Gross Profit8.33
Enterprise Value/Ebitda7.78
Forecast
1Y Price Target
$26.00Price Target Upside-26.12% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)1.19
Revenue Forecast (FY)$244.05M
Intrepid Potash Business Overview & Revenue Model
Company Description
Intrepid Potash, Inc., together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment of...
How the Company Makes Money
Intrepid Potash makes money primarily by selling fertilizer and related mineral products it produces from its mining and processing operations. Its key revenue streams include: (1) Potash (potassium chloride) sales to agricultural customers and di...
Intrepid Potash Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call communicated clear improvement in operational execution, pricing realization, and profitability, with notable increases in adjusted net income and EBITDA, stronger realized prices for potash and Trio, higher production, and a substantial $70 million asset sale that boosted liquidity. Management outlined ongoing operational projects and detailed 2026 guidance while flagging short-term COGS seasonality, fuel volatility, some mix-driven higher potash unit costs, and outstanding work required to de-risk lithium and other upside projects. Overall, positive operational momentum and a strengthened balance sheet outweigh the manageable near-term cost and execution risks.Positive Updates
Improved Profitability and EBITDA
Adjusted net income from continuing operations of $8.2 million in Q1 2026 versus $3.9 million in Q1 2025 (≈+110% YoY). Adjusted EBITDA of $19.0 million versus $14.6 million in Q1 2025 (≈+30% YoY).
Negative Updates
Higher Potash Unit Costs
Average potash segment cost of goods sold increased to $334/ton in Q1 2026 versus $313/ton in Q1 2025 (≈+6.7% YoY), attributed to higher production from higher-cost sites and mix effects.
Read all updates
Q1-2026 Updates
Positive
Negative
Improved Profitability and EBITDA
Adjusted net income from continuing operations of $8.2 million in Q1 2026 versus $3.9 million in Q1 2025 (≈+110% YoY). Adjusted EBITDA of $19.0 million versus $14.6 million in Q1 2025 (≈+30% YoY).
Read all positive updates
Company Guidance
The company provided specific near- and full‑year guidance: for Q2 it expects potash sales of 50,000–60,000 tonnes at an average net realized price of $380–$390/ton and Trio sales of 70,000–80,000 tonnes at $390–$400/ton; for full‑year 2026 it now expects potash production toward the upper end of its 270,000–285,000 tonne guidance and Trio production of 285,000–300,000 tonnes with Trio COGS around $230/ton. Capital spending for 2026 is expected to be $40–$50 million (primarily sustaining capex and the Wendover primary pond), and the company closed the sale of Intrepid South Ranch for $70 million (including an $8 million deposit), which has driven a post‑quarter cash balance of roughly $170 million (about $62 million incremental after quarter end) and will generate some interest income. Operationally, management highlighted recent quarter metrics that underpin the outlook — Q1 adjusted net income of $8.2 million and adjusted EBITDA of $19.0 million, Q1 combined sales of 211,000 tons (potash 105,000; Trio 106,000) with Q1 average realized prices of $353/ton for potash and $387/ton for Trio — and flagged an early‑summer FEL‑3 milestone on the lithium project that should provide greater precision on build and operating costs.Intrepid Potash Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 299.25M | 298.33M | 254.69M | 279.08M | 337.57M | 270.33M |
| Gross Profit | 55.16M | 52.21M | 29.08M | 36.85M | 141.41M | 55.76M |
| EBITDA | 59.02M | 58.68M | 18.76M | -5.19M | 133.60M | 77.50M |
| Net Income | 14.00M | 11.19M | -212.84M | -35.67M | 72.22M | 249.83M |
Balance Sheet | ||||||
| Total Assets | 641.54M | 632.18M | 594.52M | 768.57M | 794.20M | 766.89M |
| Cash, Cash Equivalents and Short-Term Investments | 99.26M | 83.54M | 42.30M | 7.04M | 24.47M | 36.45M |
| Total Debt | 3.68M | 3.29M | 4.25M | 6.19M | 2.21M | 1.88M |
| Total Liabilities | 143.34M | 140.75M | 120.13M | 84.14M | 79.13M | 103.49M |
| Stockholders Equity | 498.20M | 491.43M | 474.39M | 684.43M | 715.08M | 663.40M |
Cash Flow | ||||||
| Free Cash Flow | 40.93M | 25.54M | 33.59M | -21.83M | 20.13M | 59.28M |
| Operating Cash Flow | 68.03M | 55.78M | 72.50M | 43.23M | 88.82M | 79.07M |
| Investing Cash Flow | -12.75M | -13.27M | -29.53M | -59.55M | -79.18M | -14.82M |
| Financing Cash Flow | -1.68M | -276.00K | -5.72M | 1.89M | -27.70M | -47.28M |
Intrepid Potash Technical Analysis
Positive
35.19
Price Trends
40.57
Positive
36.81
Positive
32.34
Positive
Market Momentum
0.92
Negative
52.35
Neutral
42.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IPI, the sentiment is Positive. The current price of 35.19 is below the 20-day moving average (MA) of 40.08, below the 50-day MA of 40.57, and above the 200-day MA of 32.34, indicating a bullish trend. The MACD of 0.92 indicates Negative momentum. The RSI at 52.35 is Neutral, neither overbought nor oversold. The STOCH value of 42.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IPI.
Intrepid Potash Risk Analysis
Intrepid Potash disclosed 53 risk factors in its most recent earnings report. Intrepid Potash reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Intrepid Potash Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $553.31M | 18.94 | 2.85% | ― | 9.55% | ― | |
71 Outperform | $1.34B | 6.71 | 40.08% | 12.33% | 19.00% | 61.11% | |
66 Neutral | $3.35B | 3.69 | -33.72% | 4.52% | -1.89% | 216.52% | |
62 Neutral | $8.29B | 13.27 | 4.32% | 3.36% | 7.80% | -32.94% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | $6.81B | -7.86 | 5.92% | 3.70% | 12.34% | -87.77% | |
45 Neutral | $1.69B | -1.92 | -83.04% | 16.68% | -16.63% | -865.93% |
* Basic Materials Sector Average
IPI
Intrepid Potash
41.31
4.31
11.65%
UAN
CVR Partners
126.82
52.99
71.77%
FMC
FMC
12.76
-26.17
-67.22%
MOS
Mosaic Co
21.40
-13.07
-37.91%
SMG
Scotts Miracle-Gro Company
56.33
-3.83
-6.37%
ICL
Icl
6.50
0.13
2.06%
Intrepid Potash Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Intrepid Potash Divests Noncore Assets to Refocus Operations
Positive
Apr 2, 2026
On March 30, 2026, Intrepid Potash, Inc. amended its existing credit facility, appointing BMO Bank N.A. as successor administrative agent, extending the maturity date to March 30, 2031, and revising financial covenants and disposition-related prov...
Executive/Board ChangesRegulatory Filings and Compliance
Intrepid Potash CFO Departs; Interim Finance Leader Appointed
Neutral
Mar 16, 2026
Intrepid Potash, Inc. announced that Chief Financial Officer Matthew Preston departed his role effective March 11, 2026, after a tenure that began in 2008 and included a key leadership role during the company’s 2024 management transition. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.