Growth & profitability
- Revenue has grown 9.5% per year over the past 5 years.
Financial health
- The company is unprofitable; at its current free-cash-flow burn it has roughly 2.2 years of cash runway.
IEP Financials Icahn Enterprises L.P.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $9.7B | -$299M | 0.0% | 0.0% | -$654M | — | $1.4B |
| 2024 | $10.0B | -$445M | 0.0% | 0.0% | $552M | — | $2.6B |
| 2023 | $10.9B | -$684M | 0.0% | 0.0% | $3.4B | — | $3.0B |
| 2022 | $14.2B | -$183M | 0.0% | 0.0% | $717M | — | $2.3B |
| 2021 | $11.3B | -$518M | 0.0% | 0.0% | $16M | — | $2.3B |
| 2020 | $6.1B | -$1.7B | 0.0% | 0.0% | -$615M | — | $1.7B |
| 2019 | $9.0B | -$1.1B | 0.0% | 0.0% | -$1.7B | — | $3.8B |
| 2018 | $11.8B | $1.5B | 0.0% | 0.0% | $651M | — | $2.7B |
| 2017 | $12.6B | $2.5B | -18.9% | 0.0% | -$1.7B | — | $1.2B |
| 2016 | $7.4B | -$1.1B | -81.8% | 0.0% | $971M | — | $1.8B |
| 2015 | $15.3B | -$1.2B | 16.6% | 0.0% | -$611M | — | $2.1B |
| 2014 | $19.2B | -$373M | 13.9% | 0.0% | -$1.8B | — | $2.9B |
| 2013 | $20.7B | $1.0B | 23.6% | 0.0% | -$444M | — | $3.3B |
| 2012 | $15.8B | $396M | 20.2% | 0.0% | $671M | — | $3.1B |
| 2011 | $12.0B | $750M | 34.5% | 0.0% | $1.6B | — | $2.3B |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $2.2B | -$459M | 0.0% | 0.0% | $283M | — | $1.3B |
| Dec '25 | $2.7B | $1M | 0.0% | 0.0% | -$496M | — | $1.4B |
| Sep '25 | $2.7B | $287M | 0.0% | 0.0% | -$67M | — | $1.8B |
| Jun '25 | $2.4B | -$165M | 0.0% | 0.0% | $179M | — | $1.8B |
| Mar '25 | $1.9B | -$422M | 0.0% | 0.0% | -$270M | — | $2.2B |
| Dec '24 | $2.6B | -$98M | 0.0% | 0.0% | $156M | — | $2.6B |
| Sep '24 | $2.8B | $22M | 0.0% | 0.0% | -$112M | — | $2.3B |
| Jun '24 | $2.2B | -$331M | 0.0% | 0.0% | $827M | — | $2.2B |
| Mar '24 | $2.5B | -$38M | 0.0% | 0.0% | -$319M | — | $2.5B |
| Dec '23 | $2.7B | -$139M | 0.0% | 0.0% | $13M | — | $3.0B |
| Sep '23 | $3.0B | -$6M | 0.0% | 0.0% | $1.6B | — | $2.9B |
| Jun '23 | $2.6B | -$269M | 0.0% | 0.0% | $1.7B | — | $2.5B |
| Mar '23 | $2.7B | -$270M | 0.0% | 0.0% | $207M | — | $2.6B |
| Dec '22 | $3.1B | -$255M | 0.0% | 0.0% | -$2.4B | — | $2.3B |
| Sep '22 | $3.4B | -$123M | 0.0% | 0.0% | $611M | — | $2.4B |
| Jun '22 | $3.5B | -$128M | 0.0% | 0.0% | $610M | — | $2.5B |
| Mar '22 | $4.1B | $323M | 0.0% | 0.0% | $1.9B | — | $2.2B |
| Dec '21 | $2.3B | -$396M | 0.0% | 0.0% | $189M | — | $2.3B |
| Sep '21 | $2.6B | -$148M | 0.0% | 0.0% | $349M | — | $1.9B |
| Jun '21 | $3.0B | -$136M | 0.0% | 0.0% | $76M | — | $2.2B |
Valuation over time
How the market has priced IEP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has fallen from 2.4× (Mar '23) to 0.5× (Jun '26).
P/S
Frequently asked questions
Is IEP growing its revenue and profit?
Over the past 5 years, Icahn Enterprises L.P.'s revenue has grown 9.5% per year. These are computed facts, not advice.
How much debt does IEP have?
As of FY2025, Icahn Enterprises L.P. reported — of total debt against $1.4B of cash.
What is IEP's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin -3.1%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.