IPI on NYSE
Intrepid Potash
Fertilizer manufacturing company based in Denver, Colorado, United States
Intrepid Potash, Inc. (NYSE: IPI), based in Denver, Colorado, is a fertilizer manufacturer.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 18, 2026.
Overview
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- TickerIPI on NYSE1
- IndustryMining & Quarrying of Nonmetallic Minerals (No Fuels)1
- HeadquartersDenver1
- Websitewww.intrepidpotash.com
- Legal formDelaware corporation1
- Incorporated inDE4
- Business address707 17Th Street, Suite 4200, Denver, Co 802024
- Filer categoryAccelerated filer4
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Intrepid Potash, Inc. (NYSE: IPI), based in Denver, Colorado, is a fertilizer manufacturer. The company is the largest producer of potassium chloride, also known as muriate of potash, in the United States. It owns three mines, all in the Western U.S., near the cities of Carlsbad, New Mexico, Moab, Utah, and Wendover, Utah.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
18.4%Gross margin6
3.6%Operating margin6
3.7%Net margin6
17.1%Revenue growth, 20256
2.3%Return on equity6
$25.5MFree cash flow6
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Trio brought in 48% of the revenue Intrepid Potash broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Trio | $96.3M | $104.8M | $144.0M |
| Potash | $130.9M | $99.9M | $114.8M |
| Salt | $12.5M | $13.0M | $12.2M |
| Brines | $8.3M | $11.1M | $11.0M |
| Product and Service, Other | $7.7M | $6.9M | $7.0M |
| Magnesium Chloride | $8.2M | $5.3M | $6.2M |
| Water Product | $15.2M | $13.6M | $3.2M |
Business segments
Trio brought in 48% of the revenue Intrepid Potash broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Trio | $102.2M | $105.4M | $144.5M |
| Potash | $155.9M | $124.8M | $139.6M |
| Oil Field Services | $21.3M | $24.7M | $14.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Selling, general and admin12¢$36.7M
- Other costs84¢$249.7M
- Interest0¢$232.0K
- Income tax0¢$544.0K
- Profit4¢$11.2M
Out of $298.3M in revenue.6
Where each dollar of operating cash went, fiscal 2025
- Capital spending54¢$30.2M
- Kept or used elsewhere46¢$25.5M
Out of $55.8M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Sales | $298.3M | $254.7M | $279.1M |
| Lower of cost or net realizable value inventory adjustments | $4.4M | $4.0M | $6.5M |
| Gross Margin | $54.8M | $29.1M | $36.8M |
| Selling and administrative | $36.7M | $33.0M | $32.4M |
| Accretion of asset retirement obligation | $2.6M | $2.5M | $2.1M |
| Impairment of long-lived assets | $1.9M | $10.7M | $43.3M |
| (Gain) loss on sale or disposal of assets | -$1.2M | $2.0M | $807.0K |
| Other operating income | -$4.8M | -$5.2M | -$1.3M |
| Other operating expense | $9.0M | $6.0M | $3.5M |
| Operating Income (Loss) | $10.7M | -$19.9M | -$44.0M |
| Equity in loss of unconsolidated entities | -$374.0K | -$299.0K | -$486.0K |
| Interest expense, net | -$232.0K | -$112.0K | $0 |
| Interest income | $2.4M | $1.7M | $298.0K |
| Other (expense) income | -$762.0K | $45.0K | $95.0K |
| Income (Loss) Before Income Taxes | $11.7M | -$18.5M | -$44.1M |
| Income Tax (Expense) Benefit | -$544.0K | -$194.3M | $8.4M |
| Net Income (Loss) | $11.2M | -$212.8M | -$35.7M |
| Basic (in shares) | 13.0M shares | 12.9M shares | 12.8M shares |
| Diluted (in shares) | 13.2M shares | 12.9M shares | 12.8M shares |
| Basic (dollar per share) | $0.86 | -$16.53 | -$2.80 |
| Diluted (dollar per share) | $0.85 | -$16.53 | -$2.80 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $83.5M | $41.3M | $4.1M | |
| Short-term investments | $0 | $989.0K | ||
| Trade, net | $33.8M | $22.5M | ||
| Other receivables, net | $159.0K | $763.0K | ||
| Inventory, net | $112.3M | $113.0M | ||
| Other current assets | $5.4M | $5.3M | ||
| Total current assets | $235.1M | $183.8M | ||
| Property, plant, equipment, and mineral properties, net | $334.8M | $344.3M | ||
| Water rights | $19.2M | $19.2M | ||
| Long-term parts inventory, net | $31.5M | $33.8M | ||
| Long-Term Investments | $179.0K | $3.6M | ||
| Other assets, net | $11.4M | $9.9M | ||
| Total Assets | $632.2M | $594.5M | ||
| Accounts payable | $9.8M | $8.6M | ||
| Accrued liabilities | $10.6M | $9.5M | ||
| Accrued employee compensation and benefits | $12.7M | $9.8M | ||
| Other current liabilities | $20.6M | $10.1M | ||
| Total current liabilities | $53.7M | $38.0M | ||
| Asset retirement obligation | $38.8M | $32.4M | $30.1M | |
| Operating lease liabilities | $1.6M | $780.0K | ||
| Finance lease liabilities | $1.7M | $1.8M | ||
| Deferred other income, long-term | $43.2M | $45.5M | ||
| Other non-current liabilities | $1.7M | $1.7M | ||
| Total Liabilities | $140.8M | $120.1M | ||
| Common stock, $0.001 par value; 40,000,000 shares authorized; and 13,131,663 and 12,908,078 shares outstanding at December 31, 2025, and 2024, respectively | $14.0K | $14.0K | ||
| Additional paid-in capital | $674.3M | $668.4M | ||
| Accumulated deficit | -$160.9M | -$172.1M | ||
| Less treasury stock, at cost | -$22.0M | -$22.0M | ||
| Total Stockholders' Equity | $491.4M | $474.4M | $684.4M | $715.1M |
| Total Liabilities and Stockholders' Equity | $632.2M | $594.5M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 40.0M shares | 40.0M shares | ||
| Common stock, shares outstanding | 13.1M shares | 12.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $83.5M | $41.3M | $4.1M | |
| Short-term investments | $0 | $989.0K | ||
| Trade, net | $33.8M | $22.5M | ||
| Other receivables, net | $159.0K | $763.0K | ||
| Inventory, net | $112.3M | $113.0M | ||
| Other current assets | $5.4M | $5.3M | ||
| Total current assets | $235.1M | $183.8M | ||
| Property, plant, equipment, and mineral properties, net | $334.8M | $344.3M | ||
| Water rights | $19.2M | $19.2M | ||
| Long-term parts inventory, net | $31.5M | $33.8M | ||
| Long-Term Investments | $179.0K | $3.6M | ||
| Other assets, net | $11.4M | $9.9M | ||
| Total Assets | $632.2M | $594.5M | ||
| Accounts payable | $9.8M | $8.6M | ||
| Accrued liabilities | $10.6M | $9.5M | ||
| Accrued employee compensation and benefits | $12.7M | $9.8M | ||
| Other current liabilities | $20.6M | $10.1M | ||
| Total current liabilities | $53.7M | $38.0M | ||
| Asset retirement obligation | $38.8M | $32.4M | $30.1M | |
| Operating lease liabilities | $1.6M | $780.0K | ||
| Finance lease liabilities | $1.7M | $1.8M | ||
| Deferred other income, long-term | $43.2M | $45.5M | ||
| Other non-current liabilities | $1.7M | $1.7M | ||
| Total Liabilities | $140.8M | $120.1M | ||
| Common stock, $0.001 par value; 40,000,000 shares authorized; and 13,131,663 and 12,908,078 shares outstanding at December 31, 2025, and 2024, respectively | $14.0K | $14.0K | ||
| Additional paid-in capital | $674.3M | $668.4M | ||
| Accumulated deficit | -$160.9M | -$172.1M | ||
| Less treasury stock, at cost | -$22.0M | -$22.0M | ||
| Total Stockholders' Equity | $491.4M | $474.4M | $684.4M | $715.1M |
| Total Liabilities and Stockholders' Equity | $632.2M | $594.5M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 40.0M shares | 40.0M shares | ||
| Common stock, shares outstanding | 13.1M shares | 12.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | $11.2M | -$212.8M | -$35.7M |
| Depreciation, depletion, and amortization | $40.2M | $37.4M | $39.1M |
| Amortization of intangible assets | $328.0K | $328.0K | $322.0K |
| Accretion of asset retirement obligation | $2.6M | $2.5M | $2.1M |
| Amortization of deferred financing costs | $301.0K | $301.0K | $301.0K |
| Stock-based compensation | $5.1M | $3.6M | $6.5M |
| Reserve for obsolescence | $2.4M | $1.8M | $509.0K |
| Allowance for doubtful accounts | $62.0K | $120.0K | $110.0K |
| Impairment of long-lived assets | $1.9M | $10.7M | $43.3M |
| (Gain) loss on sale or disposal of assets | -$1.2M | $2.0M | $807.0K |
| Loss on equity investment | $888.0K | $266.0K | $0 |
| Equity in earnings of unconsolidated entities | $374.0K | $299.0K | $486.0K |
| Distribution of earnings from unconsolidated entities | $0 | $0 | $452.0K |
| Lower of cost or net realizable value inventory adjustments | $4.4M | $4.0M | $6.5M |
| Trade accounts receivable, net | -$11.4M | -$508.0K | $4.5M |
| Other receivables, net | $593.0K | $642.0K | -$701.0K |
| Inventory, net | -$3.9M | -$10.8M | -$11.9M |
| Other current assets | -$2.2M | -$362.0K | -$3.9M |
| Deferred tax assets, net | $0 | $194.2M | -$8.5M |
| Accounts payable, accrued liabilities and accrued employee compensation and benefits | $4.7M | -$3.5M | -$3.7M |
| Operating lease liabilities | -$1.1M | -$1.4M | -$1.7M |
| Deferred other income | -$2.3M | $42.7M | $5.0M |
| Other liabilities | $2.7M | $1.2M | -$826.0K |
| Net cash provided by operating activities | $55.8M | $72.5M | $43.2M |
| Additions to property, plant, equipment, mineral properties and other assets | -$30.2M | -$38.7M | -$65.1M |
| Deposit received | $8.0M | $0 | $0 |
| Additions to intangible Assets | $0 | -$200.0K | $0 |
| Proceeds from sale of property, plant, equipment, and mineral properties | $5.8M | $4.8M | $125.0K |
| Purchase of investments | $0 | $0 | -$1.4M |
| Proceeds from redemptions/maturities of investments | $1.0M | $3.0M | $6.0M |
| Other investing, net | $2.1M | $1.5M | $796.0K |
| Net cash used in investing activities | -$13.3M | -$29.5M | -$59.6M |
| Proceeds from borrowings on credit facility | $0 | $0 | $9.0M |
| Repayments of borrowings on credit facility | $0 | -$4.0M | -$5.0M |
| Payments of financing leases | -$1.0M | -$942.0K | -$597.0K |
| Employee tax withholding paid for restricted stock upon vesting | -$1.1M | -$775.0K | -$1.5M |
| Proceeds from exercise of stock options | $1.8M | $0 | $0 |
| Net cash (used in) provided by financing activities | -$276.0K | -$5.7M | $1.9M |
| Net Change in Cash, Cash Equivalents, and Restricted Cash | $42.2M | $37.2M | -$14.4M |
| Interest | $463.0K | $503.0K | $411.0K |
| Income taxes | $487.0K | $9.0K | $179.0K |
| Accrued purchases for property, plant, equipment, mineral properties, and development costs | $2.3M | $1.9M | $4.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Intrepid Potash, and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerKevin S. Crutchfield Dec 4, 2024 to now15
- Chief executive officerRobert P. Jornayvaz Iii. Apr 21, 2008 to Jul 2, 202416
- ChairRobert P. Jornayvaz Iii. Apr 21, 2008 to Jul 2, 202416
- PresidentEdward Brian Stone Dec 17, 2021 to Dec 19, 202217
- PresidentRobert P. Jornayvaz Iii. Feb 27, 2015 to Jun 9, 202118
- PresidentDavid Honeyfield Dec 23, 2010 to Feb 27, 201419
- PresidentPatrick L. Avery Apr 21, 2008 to Jan 7, 200920
- Chief financial officerJason Tremblay Jun 22, 2026 to now21
- Chief financial officerMatthew D. Preston Mar 15, 2022 to Jun 22, 202622
- Chief financial officerBrian D. Frantz Sep 4, 2014 to Feb 27, 201523
- Chief financial officerDavid Honeyfield Apr 21, 2008 to Feb 27, 201424
- Chief operating officerEdward Brian Stone Dec 18, 2019 to Dec 19, 202225
- Chief operating officerPatrick L. Avery Apr 21, 2008 to Jan 7, 200920
Board members and other officers (29)
- Chief Accounting OfficerCris Ingold Apr 16, 2024 to now26
- Vice President Human ResourcesStanley W. Wells Ii. May 10, 2021 to May 10, 202127
- Gen Cnsl Land,Minerals,WaterKyle R. Smith Jan 7, 2020 to Mar 15, 202128
- VP of FinanceMatthew D. Preston Nov 20, 2019 to Dec 17, 202129
- SVP - New MexicoRobert E. Baldridge Dec 18, 2019 to Mar 21, 202230
- Chief Human Resources OfficerErica Wyatt Dec 13, 2018 to Mar 15, 202131
- VP & Chief Accounting OfficerJoseph G. Montoya Apr 13, 2017 to Nov 13, 201932
- VP of Sales & MarketingJeffrey Blair May 10, 2016 to Nov 13, 201733
- V.P. Marketing & SalesKelvin G. Feist Feb 3, 2011 to Feb 29, 201634
- Controller & Chief Acctg. Off.Brian D. Frantz Jul 23, 2010 to Feb 28, 201735
- Vice President of OperationsJohn G. Mansanti Oct 19, 2009 to Jun 2, 201736
- EVP of TechnologyHugh E. Harvey Jr. Apr 21, 2008 to Mar 1, 201037
- EVP of HR & Risk MgmtJames N. Whyte Apr 21, 2008 to Nov 13, 201838
- Senior VP of Marketing & SalesR. L. Moore Apr 21, 2008 to Apr 27, 201139
- VP and ControllerRodney D. Gloss Apr 21, 2008 to Mar 1, 201040
- Board memberGonzalo M. Avendano Jan 23, 2025 to now41
- Board memberKevin S. Crutchfield Dec 4, 2024 to now15
- Board memberWilliam M. Zisch May 24, 2022 to now42
- Board memberLori A. Lancaster Jul 30, 2021 to now43
- Board memberMary E. McBride May 21, 2020 to now44
- Board memberChris A. Elliott Aug 31, 2010 to now45
- Board memberBarth E. Whitham Apr 21, 2008 to now46
- Board memberHugh E. Harvey Jr. Apr 21, 2008 to now37
- Board memberJ. Landis Martin Apr 21, 2008 to May 24, 201947
- Board memberTerry Considine Apr 21, 2008 to May 21, 202148
- General counselChristina Sheehan Mar 6, 2023 to now49
- General counselKyle R. Smith Dec 17, 2021 to Mar 21, 202250
- General counselMargaret McCandless Jan 8, 2015 to Nov 13, 201951
- General counselMartin D. Litt Jul 23, 2008 to Dec 22, 201452
Subsidiaries and ownership
Subsidiaries
- Intrepid Aviation
From Wikidata.1
Former names
- Intrepid Potash, Inc.Dec 20, 2007 to Sep 24, 20264
Timeline
Filings
311 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 44 major events, 148 insider forms, 26 large holders, 71 other. The latest 20:
- Sep 24, 2026SD EDGAR
- Aug 5, 202610-Q EDGAR
- Aug 4, 20268-K EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jul 9, 20264 EDGAR
- Jun 22, 20263 EDGAR
- Jun 15, 20268-K FROM 8-K EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 8, 20264 EDGAR
- Jun 3, 20268-K EDGAR
- Jun 1, 20264 EDGAR
- Jun 1, 20264 EDGAR
- Jun 1, 20264 EDGAR
- Jun 1, 20264 EDGAR
- Jun 1, 20264 EDGAR
- Jun 1, 20264 EDGAR
- May 18, 20264 EDGAR
The 311 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 26 such filings since October 2021, the latest 10:
- May 15, 2026SCHEDULE 13G/A
- Mar 27, 2026SCHEDULE 13G/A
- Mar 2, 2026SCHEDULE 13G/A
- Feb 4, 2026SCHEDULE 13D/A
- Jan 13, 2026SCHEDULE 13D/A
- Nov 10, 2025SCHEDULE 13D/A
- Oct 30, 2025SCHEDULE 13G
- Jun 6, 2025SCHEDULE 13D/A
- May 1, 2025SCHEDULE 13D/A
- Feb 14, 2025SCHEDULE 13D/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.intrepidpotash.com1
- WikipediaIntrepid Potash
- WikidataQ6058618
- SEC EDGARCIK 1421461
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataIntrepid Potash on Wikidata
- 2SEC EDGARIntrepid Potash filings on SEC EDGAR
- 3WikipediaIntrepid Potash on Wikipedia
- 4SEC EDGARIntrepid Potash filings on SEC EDGAR
- 5Wikimedia CommonsIntrepid Potash photo by Doc Searls, CC BY 2.0
- 6SEC EDGARIntrepid Potash 10-K for fiscal 2025
- 7SEC EDGARIntrepid Potash 10-K for fiscal 2019
- 8SEC EDGARIntrepid Potash 10-K for fiscal 2020
- 9SEC EDGARIntrepid Potash 10-K for fiscal 2021
- 10SEC EDGARIntrepid Potash 10-K for fiscal 2022
- 11SEC EDGARIntrepid Potash 10-Q for fiscal 2026
- 12SEC EDGARIntrepid Potash 10-Q for fiscal 2026
- 13SEC EDGARIntrepid Potash 10-K for fiscal 2019
- 14SEC EDGARIntrepid Potash 10-K for fiscal 2019
- 15
- 16
- 17SEC EDGAREdward Brian Stone, President
- 18SEC EDGARRobert P. Jornayvaz Iii., President
- 19SEC EDGARDavid Honeyfield, President
- 20SEC EDGARPatrick L. Avery, President
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29SEC EDGARMatthew D. Preston, VP of Finance
- 30
- 31
- 32
- 33
- 34
- 35
- 36
- 37
- 38
- 39
- 40SEC EDGARRodney D. Gloss, VP and Controller
- 41SEC EDGARGonzalo M. Avendano, Board member
- 42SEC EDGARWilliam M. Zisch, Board member
- 43SEC EDGARLori A. Lancaster, Board member
- 44SEC EDGARMary E. McBride, Board member
- 45SEC EDGARChris A. Elliott, Board member
- 46SEC EDGARBarth E. Whitham, Board member
- 47SEC EDGARJ. Landis Martin, Board member
- 48SEC EDGARTerry Considine, Board member
- 49SEC EDGARChristina Sheehan, General counsel
- 50SEC EDGARKyle R. Smith, General counsel
- 51SEC EDGARMargaret McCandless, General counsel
- 52SEC EDGARMartin D. Litt, General counsel