Financials Nutrien Ltd.

Equities

NTR

CA67077M1086

Agricultural Chemicals

Market Closed - Toronto S.E. Other stock markets 16:50:12 2025-06-13 EDT			5-day change	1st Jan Change
85.42 ^CAD	+3.80%		+4.37%	+32.80%

05-29	PRESS DIGEST-Canada - May 29	RE
05-28	Canada's Nutrien plans major Pacific Northwest terminal to boost potash exports	RE

Projected Income Statement: Nutrien Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	20,053	26,861	37,012	28,082	25,016	26,229	26,488	26,754
Change	-	33.95%	37.79%	-24.13%	-10.92%	4.85%	0.99%	1.01%
EBITDA ¹	3,667	7,126	12,170	6,058	5,355	5,658	5,690	5,508
Change	-	94.33%	70.78%	-50.22%	-11.6%	5.66%	0.58%	-3.2%
EBIT ¹	902	4,781	10,809	2,745	1,856	3,243	3,349	3,141
Change	-	430.04%	126.08%	-74.6%	-32.39%	74.72%	3.27%	-6.21%
Interest Paid ¹	-520	-613	-563	-793	-720	-712.9	-717.2	-686.8
Earnings before Tax (EBT) ¹	382	4,168	10,246	1,952	1,136	2,449	2,400	2,216
Change	-	991.1%	145.83%	-80.95%	-41.8%	115.61%	-2.03%	-7.65%
Net income ¹	459	3,153	7,660	1,258	674	1,862	1,945	1,830
Change	-	586.93%	142.94%	-83.58%	-46.42%	176.28%	4.46%	-5.91%
Announcement Date	2/17/21	2/16/22	2/15/23	2/21/24	2/19/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	8,179	4,001	3,850	4,447	9,541	5,804	7,069	7,454	14,285	7,984	7,289	5,908	11,402	5,368	5,404	5,151	9,916	5,085	4,864	4,874	10,400	5,340	5,151	5,044	11,099	5,639	5,412	-
Change	-	-51.08%	-3.77%	15.51%	114.55%	-39.17%	21.8%	5.45%	91.64%	-44.11%	-8.7%	-18.95%	92.99%	-52.92%	0.67%	-4.68%	92.51%	-48.72%	-4.35%	0.21%	113.37%	-48.65%	-3.53%	-2.09%	120.04%	-49.19%	-4.03%	-
EBITDA ¹	1,721	670	768	806	2,215	1,642	2,463	2,615	4,993	2,467	2,095	1,421	2,478	1,084	1,075	1,055	2,235	1,010	1,055	852	2,278	1,238	1,211	999.7	2,278	1,147	1,235	1,157
Change	-	-61.07%	14.63%	4.95%	174.81%	-25.87%	50%	6.17%	90.94%	-50.59%	-15.08%	-32.17%	74.38%	-56.26%	-0.83%	-1.86%	111.85%	-54.81%	4.46%	-19.24%	167.38%	-45.66%	-2.18%	-17.45%	127.81%	-49.64%	7.69%	-6.34%
EBIT ¹	1,139	-722	403	278	1,619	1,057	1,827	1,999	4,945	2,206	1,659	939	1,128	385	293	419	844	196	397	226	1,668	556.5	531.5	322.3	-	-	-	-
Change	-	-163.39%	155.82%	-31.02%	482.37%	-34.71%	72.85%	9.41%	147.37%	-55.39%	-24.8%	-43.4%	20.13%	-65.87%	-23.9%	43%	101.43%	-76.78%	102.55%	-43.07%	638.01%	-66.64%	-4.49%	-39.36%	-	-	-	-
Charge d'intérêts ¹	-139	-129	-119	-120	-125	-122	-246	-109	-130	-136	-188	-170	-204	-206	-213	-179	-162	-184	-195	-179	-182.4	-179.3	-181.4	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,000	-851	284	158	1,494	935	1,581	1,890	4,815	2,070	1,471	769	924	179	80	240	682	12	202	47	1,478	339	303	-	-	-	-	-
Change	-	-185.1%	133.37%	-44.37%	845.57%	-37.42%	69.09%	19.54%	154.76%	-57.01%	-28.94%	-47.72%	20.16%	-80.63%	-55.31%	200%	184.17%	-98.24%	1,583.33%	-76.73%	3,044.68%	-77.06%	-10.62%	-	-	-	-	-
Net income ¹	765	-587	316	127	1,108	717	1,201	1,378	3,593	1,577	1,112	571	440	75	172	158	385	18	113	11	1,086	241.2	242.3	-	-	-	-	-
Change	-	-176.73%	153.83%	-59.81%	772.44%	-35.29%	67.5%	14.74%	160.74%	-56.11%	-29.49%	-48.65%	-22.94%	-82.95%	129.33%	-8.14%	143.67%	-95.32%	527.78%	-90.27%	9,771.77%	-77.79%	0.45%	-	-	-	-	-
Announcement Date	8/10/20	11/2/20	2/17/21	5/3/21	8/9/21	11/1/21	2/16/22	5/2/22	8/3/22	11/2/22	2/15/23	5/10/23	8/2/23	11/1/23	2/21/24	5/8/24	8/7/24	11/6/24	2/19/25	5/7/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Nutrien Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	8,766	10,347	11,027	11,625	11,954	10,904	10,386	10,070
Change	-	18.04%	6.57%	5.42%	2.83%	-8.78%	-4.75%	-3.04%
Announcement Date	2/17/21	2/16/22	2/15/23	2/21/24	2/19/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Nutrien Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	1,423	1,783	2,438	2,671	2,154	2,050	2,088	2,127
Change	-	25.3%	36.74%	9.56%	-19.36%	-4.84%	1.87%	1.88%
Free Cash Flow (FCF) ¹	1,900	2,103	5,672	2,395	1,381	2,090	2,250	2,341
Change	-	10.68%	169.71%	-57.78%	-42.34%	51.3%	7.67%	4.06%
Announcement Date	2/17/21	2/16/22	2/15/23	2/21/24	2/19/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Nutrien Ltd.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	18.29%	26.53%	32.88%	21.57%	21.41%	21.57%	21.48%	20.59%
EBIT Margin (%)	4.5%	17.8%	29.2%	9.77%	7.42%	12.36%	12.64%	11.74%
EBT Margin (%)	1.9%	15.52%	27.68%	6.95%	4.54%	9.34%	9.06%	8.28%
Net margin (%)	2.29%	11.74%	20.7%	4.48%	2.69%	7.1%	7.34%	6.84%
FCF margin (%)	9.47%	7.83%	15.32%	8.53%	5.52%	7.97%	8.49%	8.75%
FCF / Net Income (%)	413.94%	66.7%	74.05%	190.38%	204.9%	112.21%	115.65%	127.9%
Profitability
ROA	2.19%	6.49%	14.65%	4.11%	3.29%	3.23%	3.46%	3.02%
ROE	4.54%	13.7%	30.97%	8.66%	6.92%	7.94%	7.41%	6.79%
Financial Health
Leverage (Debt/EBITDA)	2.39x	1.45x	0.91x	1.92x	2.23x	1.93x	1.83x	1.83x
Debt / Free cash flow	4.61x	4.92x	1.94x	4.85x	8.66x	5.22x	4.62x	4.3x
Capital Intensity
CAPEX / Current Assets (%)	7.1%	6.64%	6.59%	9.51%	8.61%	7.82%	7.88%	7.95%
CAPEX / EBITDA (%)	38.81%	25.02%	20.03%	44.09%	40.22%	36.23%	36.7%	38.62%
CAPEX / FCF (%)	74.89%	84.78%	42.98%	111.52%	155.97%	98.1%	92.82%	90.88%
Items per share
Cash flow per share ¹	5.833	6.802	15.02	10.19	7.151	8.668	9.33	9.737
Change	-	16.62%	120.79%	-32.13%	-29.85%	21.21%	7.64%	4.36%
Dividend per Share ¹	1.86	1.84	1.92	2.12	2.16	2.168	2.212	2.261
Change	-	-1.08%	4.35%	10.42%	1.89%	0.36%	2.04%	2.2%
Book Value Per Share ¹	39.29	42.43	50.9	50.62	49.44	51.27	52.62	54.27
Change	-	7.99%	19.97%	-0.55%	-2.32%	3.7%	2.63%	3.14%
EPS ¹	0.81	5.52	14.18	2.53	1.36	3.851	3.914	3.448
Change	-	581.48%	156.88%	-82.16%	-46.25%	183.17%	1.62%	-11.9%
Nbr of stocks (in thousands)	569,146	570,786	520,184	494,547	493,910	487,487	487,487	487,487
Announcement Date	2/17/21	2/16/22	2/15/23	2/21/24	2/19/25	-	-	-