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Icahn Enterprises L.P. (IEP)

NEUTRAL
EnergyOil & Gas Refining & MarketingUnited States

Fundamental

43

Price

$6.61

Market Cap

$4.81B

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.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

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

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

Undervalued

Fair Value

$116.23

Current Price

$6.61

Margin of Safety

+94.3%

Fair Value Range

$110.41 - $122.04

Estimation Methods

Analyst Target:-
DCF:$116.23
PE-based:-
Graham Growth:-
EPV:-
Analyst Consensus:Strong Buy (4B / 1H / 0S)
Last Earnings Surprise:-789.32%

Valuation Metrics

P/E Ratio

-

ROE

-34.1%

P/B Ratio

-

P/FCF

-

Gross Margin

-

ROIC

-

Profitability Radar

Value Creation (Economic Moat)

ROIC

-

WACC

6.9%

ROIC − WACC

-

Fundamental Analysis Criteria

Passed (5)

  • Low reliance on intangibles
  • DCF valuation (Undervalued)
  • Revenue Growth 5Y 8.7%
  • Analyst Consensus 80% Buy
  • Net Margin Trend -5.0% vs -6.9%

Failed (7)

  • Price CAGR -19.57%
  • Positive Free Cash Flow
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE -34.1%
  • Earnings Surprise avg -238.8%
  • Piotroski F-Score 2/9

Unavailable (15)

  • EPS data insufficient
  • ROIC NaN%
  • Gross Margin NaN%
  • P/FCF NaN
  • P/B Ratio NaN
  • Dividend Payout NaN%
  • Debt/Equity ratio
  • Operating Margin NaN%
  • CapEx intensity
  • Current Ratio
  • Interest Coverage
  • Price below Graham Number
  • PEG Ratio (need PE > 0 and growth > 0)
  • Earnings Quality (OCF/Net Income)
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

Serious financial concerns

score
criteria

Earnings Quality

-

Low quality: investigate accounting

Share Dilution

-

Buying back shares. Shareholder friendly

Governance

Executive Team

NameTitleAge
Mr. Ted PapapostolouPresident, CEO, Director & Secretary44
Mr. Robert E. FlintCFO, Chief Accounting Officer, Principal Accounting Officer & Director47
Mr. Angel MontalvoInvestor Relations Contact-
Mr. Jesse A. Lynn J.D.General Counsel54

Part 2 · The price and when to enter

This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Latest News

Recent headlines for IEP, sourced from Markets Gazette.

  • 5/19/2026NEUTRAL
    Carl 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.

  • 2/27/2026POSITIVE
    Icahn 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.

  • 2/25/2026NEUTRAL
    Icahn 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.

via Markets Gazette