← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Icahn Enterprises narrowed its loss 32.8% to $299M on revenue down 3.6% to $9.66B, but operating cash flow turned negative and free cash flow fell to -$654M while it kept paying $2.00 a unit, mostly in new units to Carl Icahn
The read at a glance✓ Audited against SEC data
- Growth — Revenue down 3.6% to $9.66B; Energy $7.19B of itWatch
- Profitability — Net loss narrowed 32.8% to $299M; Investment Funds returned 0.4%Watch
- Balance sheet — Total debt down 2.8% to $6.62B; holding company cash about $839 millionNote
- Accounting quality — Forensic scores not available; Grant Thornton auditor since 2004Note
- Capital allocation — $2.00 per unit declared, $282 million in cash; free cash flow -$654MWatch
- Control — Carl Icahn and affiliates own about 86% of units, rising with each distributionWatch
Business
Icahn Enterprises is a Delaware master limited partnership, controlled by Carl Icahn, that holds controlling stakes in operating companies and invests through private Investment Funds run by Icahn. Its businesses are Energy (about 70% of CVR Energy, a refiner and fertilizer producer), Automotive services, Food Packaging (Viskase), Real Estate, Home Fashion and Pharma. Energy brought in $7,188 million of 2025 revenue, so the group's results move largely with refining margins and fund performance.
Where the revenue comes from
Fiscal 2025, as ICAHN ENTERPRISES L.P. reports it. History and quarterly detail are in the app.
- Energy$7.2B
- Automotive$1.4B
- Food Packaging$362.0M
- Real Estate$336.0M
- Home Fashion$171.0M
Latest filings
- 8-K · Company announcement2026-08-20
- 8-K · Company announcement2026-08-07
- 10-Q · Quarterly report2026-08-05
- 8-K · Company announcement2026-08-05
- 8-K · Company announcement2026-07-21
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about ICAHN ENTERPRISES L.P., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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