Feed / IEP

Icahn Enterprises L.P.

IEP

Energy · 6.87 +0.4% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Icahn Enterprises L.P.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Company+0.4% todayVolume comparison unavailable
Market group0 of 1 activeDiversified Holding Company · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • IEP's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if IEP's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Energy · Oil & Gas Refining & Marketing

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • IEP's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements199
Verified relationships10
Evidence supporting the case
  • Net margin changed +1.3 percentage points in the latest annual period.
Evidence challenging the case
  • Latest annual revenue changed -3.6% year over year.
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Demand and volume has repeated adverse evidence across 5 filings.
  • Foreign exchange has repeated adverse evidence across 5 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 10, 2026

6.87
6m-9.9%12m-17.2%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$11.3B+85.2%
2022-12-31$14.2B+25.2%
2023-12-31$10.9B-23.0%
2024-12-31$10.0B-8.4%
2025-12-31$9.7B-3.6%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
The decrease was primarily due to lower interest expense in our Energy segment of $8 million attributable to lower borrowing costs resulting from our Energy segment’s debt refinancing activities in the first quarter of 2026 and lower interest expense in our I…
10-Q · Aug 5, 2026
Demand and volumenegative · 5 filings
Gross margin as a percentage of net sales was 26% and 21% for the three months ended June 30, 2026 and 2025, respectively.
10-Q · Aug 5, 2026
Foreign exchangenegative · 5 filings
The decrease was primarily due to volume-related decreases of $23 million, offset in part by favorable effects of an increase in price and product mix of $4 million and favorable foreign exchange of $5 million.
10-Q · Aug 5, 2026
Pricing and mixmixed · 3 filings
The decrease was primarily due to the strategic closure of underperforming locations, which reduced revenues by $28 million in the current period, offset in part by price increases of $4 million.
10-Q · Aug 5, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales · EV/sales . Comparisons use only industry-matched filing peers.

Scenario scaffold

No usable price/earnings or price/sales multiple (need a fresh price).

Price action

How the market is pricing the story

6.87+0.4% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for IEP. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for IEP. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind IEP

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

CVICVR Energy, Inc.investeeMay 6, 2026

As of March 31, 2026 we own approximately 71% of the total outstanding common stock of CVR Energy and approximately 3% of the total outstanding common units of CVR Partners.

CVICVR Energy, Inc.partnerMay 6, 2026

Potential Strategic Transactions As previously disclosed, we are considering, with CVR Energy, potential strategic transactions available to CVR Energy and its subsidiaries, which may include the acquisition of additional entities, assets or businesses, inclu…

Depended on by

CVICVR Energy, Inc.investeeApr 29, 2026

Strategy and Initiatives Potential Strategic Transactions As previously disclosed, Icahn Enterprises L.P.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 8 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

IEP is currently a Leader in the organic co-movement group Diversified Holding Company. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for IEP; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.