Icahn Enterprises L.P. (IEP)
UndervaluedFundamental
46
Price
$5.76
Market Cap
$4.37B
Part 1 · What the company is worth
Overview
Icahn Enterprises L.P., through its subsidiaries engages in the investment, energy, automotive, food packaging, real estate, home fashion and pharma in the United States and internationally. The Investment segment invests its proprietary capital through various private investment funds; and it provides investment advisory, administrative, and back-office services to the investment funds. The Energy segment engages in refining and marketing petroleum in the form of gasoline, diesel, jet fuel, and distillates; renewable fuels business refines renewable feedstocks, such as soybean oil, corn oil, and other related renewable feedstocks into renewable diesel and markets renewable products; and nitrogen fertilizer business produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia. The Automotive segment engages in repair and maintenance of automotive; sale of installed parts or materials related to automotive services; and sale of automotive aftermarket parts and retailed merchandise. The Food Packaging segment produces and sells cellulosic, fibrous, and plastic casings used to prepare and pack processed meat products. The Real Estate segment consists of investment properties, including land, retail, office, and industrial properties; and development and sale of single-family homes; and the operations of a resort and two country clubs. The Home Fashion segment manufactures, sources, markets, distributes, and sells home fashion consumer products. The Pharma segment offers pharmaceutical products and services; and develops approved therapies and product candidates. Icahn Enterprises L.P. was incorporated in 1987 and is headquartered in Sunny Isles Beach, Florida.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated with artificial intelligence on September 18, 2026, shared with all users
Its Ponca City refinery supplies refined products into the same Oklahoma and Kansas markets served by Icahn's Coffeyville and Wynnewood refineries.
Its Ardmore refinery competes head-on for the same mid-continent fuel buyers and for the same crude oil feedstock.
It is the closest structural peer: a family-controlled US holding company that buys and runs controlling stakes in energy and industrial businesses, bidding for the same deals and the same shareholders.
Its El Dorado and Tulsa refineries are named by Icahn's CVR Energy subsidiary as its closest rivals for the same mid-continent gasoline and diesel customers.
This farmer-owned cooperative runs the McPherson refinery in Kansas and sells both fuel and nitrogen fertilizer to the same farm-belt customers as Icahn's energy business.
Another US conglomerate built around permanent capital and wholly owned operating companies, competing with Icahn for control acquisitions and for the capital of investors seeking a diversified holding vehicle.
Balance Sheet & Liquidity
Revenue
$10.60B
Trailing 12 months (through 6/30/2026)
Net Income
$-526M
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$-654M
Total Equity
$2.17B
Total Liabilities
$10.79B
Current Ratio
2.79
Interest Coverage
-
Debt/EBITDA
13.00
Earnings Per Share
No EPS data available
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$123.65
Current Price
$5.76
Margin of Safety
+95.3%
Fair Value Range
$92.74 - $154.56
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
-
ROE
-34.1%
P/B Ratio
-
P/FCF
-
Gross Margin
-
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
6.7%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (4)
- Low reliance on intangibles
- DCF valuation (Undervalued)
- Revenue growth 5Y 8.7%
- Net margin trend -5.0% vs -6.9%
Failed (7)
- Price CAGR -20.88%
- Positive free cash flow
- Debt/EBITDA
- Return on tangible assets
- ROE -34.1%
- Earnings surprise, average -238.8%
- Piotroski F-Score 2/9
Unavailable (15)
- EPS data insufficient
- ROIC –
- Gross margin –
- P/FCF –
- P/B ratio –
- Dividend payout –
- Debt/equity ratio
- Operating margin –
- CapEx intensity
- Current ratio
- Interest coverage
- Price below Graham Number
- PEG ratio (needs P/E > 0 and growth > 0)
- Earnings quality (operating cash flow / net income)
- Share dilution (missing share count)
Piotroski F-Score
Serious financial concerns
Earnings Quality
Low quality: investigate accounting
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Well-known investors who own Icahn Enterprises L.P.
Latest 13F: quarter ended 06/30/2026
| Investor | Weight in their portfolio | Last quarter |
|---|---|---|
| Carl Icahn · Icahn Enterprises | 54.0% | +$497.4M |
Source: 13F filings with the SEC. Long positions in US stocks only, filed up to 45 days late.
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Ted Papapostolou | President, CEO, Secretary & Director of Icahn Enterprises GP Inc | 44 |
| Mr. Robert E. Flint | CFO & Director of Icahn Enterprises GP Inc | 47 |
| Ms. Rowella Asuncion-Gumabong | Chief Accounting Officer & PAO of Icahn Enterprises GP Inc | 46 |
| Mr. Angel Montalvo | Investor Relations Contact | - |
| Mr. Jesse A. Lynn J.D. | General Counsel | 54 |
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-05
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-20
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much IEP moves, measured on its daily prices.
More volatile than 20% of the tracked stocks (90-day volatility).
- Volatility 30d
- 25.9%
- Volatility 90d
- 24.8%
- Beta vs S&P 500 (1y)
- 0.44Correlation 0.20
- Max drawdown (12m)
- -36.9%
- ATR (14d, % of price)
- 2.82%
Earnings reactions
How IEP moved around its past quarterly results.
Next earnings release
Nov 4, 2026 · In 10 days · Before the open
What usually happens
- Over the last 12 releases the stock moved a median of 4.3% the next day, up or down.
- Next-day moves: up 4, down 8 (out of 12).
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026 | Before the open | n/a | n/a | n/a | -2.2% | -3.5% | -1.9% |
| May 6, 2026 | Before the open | 0.10 | -0.71 | -789.3% | -3.6% | -4.7% | -2.5% |
| Feb 25, 2026 | Before the open | 0.17 | 0.00 | -98.8% | -0.3% | +3.0% | +6.2% |
| Nov 5, 2025 | Before the open | 0.14 | 0.49 | +246.5% | +3.0% | +8.9% | +11.7% |
| Aug 4, 2025 | Before the open | 0.14 | -0.30 | -313.7% | +0.1% | -0.3% | +3.2% |
| May 7, 2025 | Before the open | n/a | n/a | n/a | -1.1% | -4.2% | +5.4% |
| Feb 26, 2025 | Before the open | n/a | n/a | n/a | +2.1% | -2.2% | -5.0% |
| Nov 8, 2024 | Before the open | n/a | n/a | n/a | -11.1% | -6.1% | -2.6% |
| Aug 7, 2024 | Before the open | n/a | n/a | n/a | -2.0% | -4.4% | -1.4% |
| May 8, 2024 | Before the open | n/a | n/a | n/a | +1.6% | +8.1% | +8.3% |
| Feb 28, 2024 | Before the open | n/a | n/a | n/a | -0.9% | -0.7% | 0.0% |
| Nov 3, 2023 | Before the open | n/a | n/a | n/a | +9.0% | +13.1% | +10.6% |
Release dates from SEC 8-K filings.
Updated 10/25/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Latest News
Recent headlines for IEP.
- 5/19/2026NEUTRALCarl Icahn Beat Berkshire Hathaway This Quarter — But The Long-Term Story Is Different
Hedge fund data reveals that Carl Icahn's investment firm, Icahn Enterprises L.P., achieved a higher return in Q1 2026 compared to Berkshire Hathaway. However, this short-term outperformance contrasts with Warren Buffett's Berkshire Hathaway, which maintains a significantly larger lead in cumulative returns over the past five years. This suggests a divergence in recent performance versus long-term strategic success, offering investors a nuanced view on the two investment giants.
- 2/27/2026POSITIVEIcahn Loads Up 30.5 Million IEP Shares Worth $245.6 Million
Carl Icahn, the renowned activist investor, has significantly bolstered his stake in Icahn Enterprises L.P. (IEP), acquiring an additional 30.5 million shares valued at $245.6 million. This strategic move, which sees Icahn increasing his holdings in the diversified conglomerate spanning energy, automotive, and real estate, serves as a clear vote of confidence in the company's future prospects. The transaction suggests a bullish outlook from one of the most influential investors, indicating that IEP shares, known for their notably high dividend yield and broad sector exposure, may be undervalued or possess substantial growth potential. Investors are likely to interpret this massive purchase as a positive catalyst for the stock.
- +1 day
- -0.1%
- +3 days
- +2.7%
- 2/25/2026NEUTRALIcahn Enterprises (IEP) Earnings Transcript
Markets Gazette turns its attention to Icahn Enterprises (IEP) following the release of its earnings transcript. While specific details of the content have not yet been disclosed or thoroughly analyzed, the availability of such a document marks a key moment for investors. Earnings call transcripts offer direct insight into discussions between management and analysts, often revealing the company's future outlook, operational challenges, and growth strategies. For a diversified conglomerate like Icahn Enterprises, led by renowned activist investor Carl Icahn, every word can carry significant weight. Investors will closely monitor for any indications regarding specific sector performance, capital allocation, or divestment/acquisition plans that might emerge from a future analysis of the full text. Currently, the focus is on the mere availability of the document, awaiting deeper analysis that could unveil the next moves of Icahn's giant.
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.