Employees: 478
Size Intrepid Potash (IPI) is a United States Materials company (Other Metals/Minerals) with a market value of $443M, the 2783rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $32.90 on 6 Nov 2026.
Performance Over six months the shares fell 13.0%, against -37.7% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 5.0% over the last twelve months (peer median +19.9%); the operating margin is 5.5% (peer median 10.3%).
Valuation It trades at 11.8× forward earnings against a peer median of 9.9× (5th most expensive of 11).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.6 points below its cost of capital (10.1% WACC).
Short interest Short interest is 3.0% of the free float (15 Oct 2026).
Next results Next results expected around 8 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $292M | $298M | $255M | $279M | $338M |
| Revenue growth | — | +17% | -9% | -17% | — |
| Gross profit | $56.8M | $52.2M | $26.6M | $34.7M | $139M |
| EBITDA | $58.4M | $58.7M | $33.8M | $43.8M | $145M |
| Net income | $11.1M | $11.2M | -$213M | -$35.7M | $72.2M |
| Free cash flow | $26.8M | $25.5M | $33.8M | -$21.8M | $19.1M |
| Capital expenditure | $35.0M | $30.2M | $38.9M | $65.1M | $68.7M |
| Total debt | $2.79M | $5.31M | $4.25M | $8.54M | $3.81M |
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| Measure | IPI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.5% | -14.9% | 3rd highest of 21 |
| 6-month return | -13.0% | -37.7% | 4th highest of 21 |
| Distance from 52-week high | -34.6% | -56.5% | 3rd highest of 21 |
| Revenue growth (TTM) | +5.0% | +19.9% | 9th lowest of 18 |
| Operating margin | 5.5% | 10.3% | 7th lowest of 18 |
| Forward P/E | 11.8× | 9.9× | 5th most expensive of 11 |
| Growth the price implies (Req g, 7 yrs) | 9.9% | 11.0% | 4th least demanding of 8 |
| Growth delivered (Del g) | +8.7% | +5.7% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | +1.3 pp | +6.1 pp | 3rd least demanding of 7 |
| ROIC minus cost of capital | -6.6 pp | -5.0 pp | 9th lowest of 20 |
| EV / EBITDA | 4.9× | 8.0× | 2nd cheapest of 11 |
| Net debt / EBITDA | -2.7× | 1.4× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Intrepid Potash IPI | United States | $443M | -13% | +5% | 6% | 11.8× | 9.9% | +8.7% |
| Elevra Lithium ELV.AX | Australia | $445M | -74% | -8% | -34% | 29.4× | n/a | n/a |
| Xiamen Zhongchuang Environmental Technology 300056.SZ | China | $434M | -32% | -12% | -41% | n/a | n/a | n/a |
| Shanghai Re.fine Environment Sci-tech 001396.SZ | China | $433M | -42% | +4% | 12% | n/a | 27.1% | +10.6% |
| PMET Resources PMET.TO | Canada | $431M | -56% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Changjiang River Moulding Material (Group) 001296.SZ | China | $430M | -16% | -1% | 7% | n/a | 14.0% | +4.2% |
| Central Asia Metals CAML.L | United Kingdom | $430M | -17% | +23% | 39% | 4.3× | -9.5% | +6.9% |
| Xinjiang Xinxin Mining Industry 3833.HK | Hong Kong | $457M | -39% | +20% | 17% | n/a | n/a | n/a |
| Magna Mining NICU.TO | Canada | $429M | -15% | +299% | -34% | n/a | n/a | n/a |
| REalloys ALOY | United States | $427M | -38% | +21% | -4,460% | n/a | n/a | n/a |
| Ximei Resources 9936.HK | Hong Kong | $461M | -40% | +52% | 14% | 9.3× | n/a | n/a |
| Group 6 Metals G6M.AX | Australia | $424M | -9% | +508% | 50% | 6.2× | -9.7% | n/a |
| NioCorp Developments NB | United States | $423M | -52% | n/a | n/a | n/a | n/a | n/a |
| Luxfer LXFR | United States | $463M | +11% | -9% | 10% | 16.6× | 9.1% | +3.4% |
| United States Antimony UAMY | United States | $422M | -74% | +36% | -65% | 82.2× | n/a | n/a |
| Moil MOIL.NS | India | $465M | -32% | +3% | 19% | 10.6× | n/a | n/a |
| Ashapura Minechem ASHAPURMIN.NS | India | $421M | -37% | +63% | 8% | n/a | 13.3% | +35.5% |
| Ecora Royalties ECOR.L | United Kingdom | $475M | -4% | +168% | 48% | 12.1× | 11.0% | +4.5% |
| Ferroglobe GSM | United States | $477M | -37% | +4% | 0% | 4.5× | n/a | n/a |
| WA1 Resources WA1.AX | Australia | $410M | -51% | n/a | n/a | n/a | n/a | n/a |
| People & Technology 137400.KS | South Korea | $408M | -57% | -18% | 11% | 6.8× | n/a | n/a |