# Icahn Enterprises L.P. share price today (Icahn Enterprises L.P., IEP)

> Icahn Enterprises L.P.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. IEP · Energy · Oil & Gas Refining & Marketing · data as of 3 November 2026. Page: https://www.sectoralpha.in/us/stocks/iep

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## Key numbers

- Price: $5.35 (−33.6% in a year)
- Revenue (Jun 2026): $3.0 B (+25.7% on a year ago)
- Profit (Jun 2026): −$388 M
- Operating margin: −8.6% (−3.9 points on a year ago)
- ROE: −10%, FY25
- ROIC: −1.3%, against a 6.5% cost of capital: −7.8 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Icahn Enterprises L.P. share price today? Icahn Enterprises L.P.'s share price was $5.35 at the close on 3 November 2026. It has been falling for 25 weeks. That is 27.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between $5 and $9, and at that close it sat 4% of the way up from that low. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 27 weeks running. Over the last 10 years the share price moved −90% while the S&P 500 moved +255%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 1 May 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Icahn Enterprises L.P. pay? Icahn Enterprises L.P. paid $2.00 per share over the last four reported quarters. The most recent declaration was $0.50 for Jun 2026. At today's price of $5.35 that is a yield of 37.38%, based on dividends already paid, not a forecast. ## Which stock lists is Icahn Enterprises L.P. on? Icahn Enterprises L.P. is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Icahn Enterprises L.P. profitable? Icahn Enterprises L.P. posted a net loss of $388 M in the Jun 2026 quarter. The full FY25 year was a loss of $326 M. That loss is 13.0% of the quarter's revenue. The same quarter a year earlier lost $201 M. 9 of the last 12 reported quarters were loss-making. ## How much revenue does Icahn Enterprises L.P. make, and is it growing? Icahn Enterprises L.P. reported $3.0 B of revenue in the Jun 2026 quarter, +25.7% on the same quarter a year earlier. That is the 3rd quarter in a row with growth on the year before. Over 4 years it has grown −4.3% a year on average. The last full year, FY25, came in at $9.4 B. The last four reported quarters add to $10.4 B. FY25 revenue was $9.4 B, −6.1% on the year before. Recent pace: the last four quarters grew +10.4% on average, against −4.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +8.9%, against +0.3% a year over the last 8 quarters (accelerating). ## How much of every $100 of sales does Icahn Enterprises L.P. keep? Icahn Enterprises L.P.'s operating margin was −8.6% in the Jun 2026 quarter, 3.9 percentage points lower than the same quarter a year ago. Across 5 years it has been between −0.3% and 5.3%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −3.9 percentage points on the year while gross margin changed −5.8 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Icahn Enterprises L.P.'s profit turning into cash? Icahn Enterprises L.P.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used $313 M of cash, against −$326 M of profit. After $341 M of spending on assets, free cash was −$654 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Icahn Enterprises L.P.'s cash go? Icahn Enterprises L.P. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $924 M on assets over the last 3 years. Averaged over those years that is 3.3% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $924 M over the last 3 years. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Icahn Enterprises L.P.'s P/E ratio, and how does it compare with its own history? Icahn Enterprises L.P. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Icahn Enterprises L.P. at 0.4× its FY25 revenue of $9.4 B. The P/E comes back here once profit turns positive. ## Is the Icahn Enterprises L.P. business getting better or worse? Icahn Enterprises L.P.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Icahn Enterprises L.P. earn on its capital? Icahn Enterprises L.P. earned a ROE of −10% in FY25. That is up from a low of −17% in FY23. Its return on capital used (ROIC) is 7.8 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −3.5% net margin and 0.66× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −3.5% net margin × 0.66× asset turnover × 4.15× leverage (assets divided by equity) ≈ −9.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: −1.3% − 6.5% = −7.8 percentage points. The 6.5% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The −1.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at −0.1%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Icahn Enterprises L.P. have too much debt? Icahn Enterprises L.P. has total debt of $6.8 B against shareholder equity of $2.1 B as of Jun 2026, so its debt is 3.19× its equity. Year by year, that ratio went from 0.87 in FY21 to 2.07 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Icahn Enterprises L.P. shareholding pattern? 35.0% of Icahn Enterprises L.P.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 20.9 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Icahn Enterprises L.P. from balance-sheet trouble? For Icahn Enterprises L.P., the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Icahn Enterprises L.P. rank in its industry? 28.2 out of 100, rank 17 of 17 in Oil & Gas Refining & Marketing, with 64% of the evidence available. Icahn Enterprises L.P. scores 28.2 out of 100 against the 17 companies it is compared with in Oil & Gas Refining & Marketing, ranking 17. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 12.6 + 3.8 + 11.5 + 0.3 = 28.2. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Icahn Enterprises L.P. compared with? Icahn Enterprises L.P. ranks 17 of 17 Oil & Gas Refining & Marketing companies on the 4-Factor Sector Score, with 28.2 out of 100. 1. [Valero Energy Corporation](https://www.sectoralpha.in/us/stocks/vlo) VLO · leader · Sector-leading setup · 85% evidence 81.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.1/35 · Revenue 27.1% · Profit 100% · Operating margin change 14.2 points · 95% evidence Capital efficiency 20.4/25 · ROCE 22.8% · Operating margin 19.7% · 76% evidence Valuation 13.9/20 · P/E 8.6× · PEG 0.19 · 65% evidence Relative strength 16.9/20 · Lead over its industry 26.7% · Lead over S&P 500 39.7% · 1 year 120.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.1 + 20.4 + 13.9 + 16.9 = 81.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Marathon Petroleum Corporation](https://www.sectoralpha.in/us/stocks/mpc) MPC · leader · Most evidence points up · 81% evidence 76.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 15.2% · Profit 100% · Operating margin change 7.8 points · 83% evidence Capital efficiency 17.7/25 · ROCE 18.1% · Operating margin 13.6% · 76% evidence Valuation 12.9/20 · P/E 8.7× · PEG 0.35 · 65% evidence Relative strength 19.7/20 · Lead over its industry 36.9% · Lead over S&P 500 50.8% · 1 year 120.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.1 + 17.7 + 12.9 + 19.7 = 76.4 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Par Pacific Holdings, Inc.](https://www.sectoralpha.in/us/stocks/parr) PARR · turning · Most evidence points up · 74% evidence 69.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 13.2% · Profit n/a · Operating margin change 16.4 points · 62% evidence Capital efficiency 20.2/25 · ROCE 35.6% · Operating margin 21.1% · 76% evidence Valuation 15.7/20 · P/E 3.3× · PEG 0.18 · 65% evidence Relative strength 9.2/20 · Lead over its industry 3.5% · Lead over S&P 500 14.5% · 1 year 73.2% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.5 + 20.2 + 15.7 + 9.2 = 69.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [HF Sinclair Corporation](https://www.sectoralpha.in/us/stocks/dino) DINO · leader · Most evidence points up · 74% evidence 66.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.5/35 · Revenue 16.3% · Profit n/a · Operating margin change 7.6 points · 62% evidence Capital efficiency 14.6/25 · ROCE 17.2% · Operating margin 11.7% · 76% evidence Valuation 11.1/20 · P/E 6.6× · PEG 0.96 · 65% evidence Relative strength 18.3/20 · Lead over its industry 33.9% · Lead over S&P 500 47.6% · 1 year 107.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.5 + 14.6 + 11.1 + 18.3 = 66.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Phillips 66](https://www.sectoralpha.in/us/stocks/psx) PSX · leader · Evidence leans up · 71% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 14.4% · Profit 100% · Operating margin change 4.1 points · 83% evidence Capital efficiency 12.4/25 · ROCE 11.1% · Operating margin 8.5% · 76% evidence Valuation 9.7/20 · P/E 9.6× · PEG n/a · 15% evidence Relative strength 16.8/20 · Lead over its industry 24.5% · Lead over S&P 500 38.2% · 1 year 97.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.8 + 12.4 + 9.7 + 16.8 = 63.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [CVR Energy, Inc.](https://www.sectoralpha.in/us/stocks/cvi) CVI · breaking out · Evidence leans up · 74% evidence 62.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.3/35 · Revenue 17.9% · Profit n/a · Operating margin change 8.6 points · 62% evidence Capital efficiency 9.8/25 · ROCE 12.4% · Operating margin 2.8% · 76% evidence Valuation 12.1/20 · P/E 22.1× · PEG 0.34 · 65% evidence Relative strength 16.4/20 · Lead over its industry 20.4% · Lead over S&P 500 33.6% · 1 year 33.3% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.3 + 9.8 + 12.1 + 16.4 = 62.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [PBF Energy Inc.](https://www.sectoralpha.in/us/stocks/pbf) PBF · leader · Evidence leans up · 74% evidence 61.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue 13.5% · Profit n/a · Operating margin change 10.1 points · 62% evidence Capital efficiency 7.0/25 · ROCE 6.8% · Operating margin 8.8% · 76% evidence Valuation 15.1/20 · P/E 4× · PEG 0.18 · 65% evidence Relative strength 16.6/20 · Lead over its industry 36.7% · Lead over S&P 500 49.9% · 1 year 110.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.8 + 7 + 15.1 + 16.6 = 61.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Delek US Holdings, Inc.](https://www.sectoralpha.in/us/stocks/dk) DK · leader · Evidence leans up · 64% evidence 56.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 11.4% · Profit n/a · Operating margin change 8 points · 62% evidence Capital efficiency 11.6/25 · ROCE 15.5% · Operating margin 7.6% · 76% evidence Valuation 9.5/20 · P/E 13.9× · PEG n/a · 15% evidence Relative strength 13.7/20 · Lead over its industry 24.4% · Lead over S&P 500 37% · 1 year 71% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.8 + 11.6 + 9.5 + 13.7 = 56.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Ultrapar Participações S.A.](https://www.sectoralpha.in/us/stocks/ugp) UGP · losing its lead · Evidence leans up · 81% evidence 53.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.1/35 · Revenue 10.9% · Profit 17% · Operating margin change 3.5 points · 83% evidence Capital efficiency 18.0/25 · ROCE 20.2% · Operating margin 7.6% · 76% evidence Valuation 12.9/20 · P/E 7.7× · PEG 0.38 · 65% evidence Relative strength 3.4/20 · Lead over its industry -11.7% · Lead over S&P 500 -1.5% · 1 year 36.7% · 100% evidence · 10 of 12 weeks ahead Exact sum: 19.1 + 18 + 12.9 + 3.4 = 53.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Star Group, L.P.](https://www.sectoralpha.in/us/stocks/sgu) SGU · turning · Evidence leans down · 74% evidence 47.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 7.6% · Profit 27.6% · Operating margin change -3.1 points · 62% evidence Capital efficiency 12.8/25 · ROCE 19.5% · Operating margin -10% · 76% evidence Valuation 15.7/20 · P/E 4.8× · PEG 0.11 · 65% evidence Relative strength 5.9/20 · Lead over its industry -13.4% · Lead over S&P 500 -1.5% · 1 year 11.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.9 + 12.8 + 15.7 + 5.9 = 47.3 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 11. [Sunoco LP](https://www.sectoralpha.in/us/stocks/sun) SUN · losing its lead · Evidence leans down · 81% evidence 47.0 out of 100 Growth Capital Valuation Relative
12. [World Kinect Corporation](https://www.sectoralpha.in/us/stocks/wkc) WKC · turning · Evidence leans down · 64% evidence 45.8 out of 100 Growth Capital Valuation Relative
13. [CrossAmerica Partners LP](https://www.sectoralpha.in/us/stocks/capl) CAPL · turning · Evidence leans down · 81% evidence 42.6 out of 100 Growth Capital Valuation Relative
14. [ARKO Petroleum Corp.](https://www.sectoralpha.in/us/stocks/apc) APC · quiet · Too little evidence to rank firmly · 51% evidence 38.7 out of 100 Growth Capital Valuation Relative
15. [Clean Energy Fuels Corp.](https://www.sectoralpha.in/us/stocks/clne) CLNE · turning · Most evidence points down · 61% evidence 32.3 out of 100 Growth Capital Valuation Relative
16. [Delek Logistics Partners, LP](https://www.sectoralpha.in/us/stocks/dkl) DKL · quiet · Most evidence points down · 81% evidence 32.1 out of 100 Growth Capital Valuation Relative
17. Icahn Enterprises L.P. this page IEP · quiet · Most evidence points down · 64% evidence 28.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.6/35 · Revenue 8.9% · Profit n/a · Operating margin change -3.9 points · 62% evidence Capital efficiency 3.8/25 · ROCE -0.6% · Operating margin -8.6% · 76% evidence Valuation 11.5/20 · P/E -15.5× · PEG n/a · 15% evidence Relative strength 0.3/20 · Lead over its industry -40.6% · Lead over S&P 500 -31.9% · 1 year -39.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.6 + 3.8 + 11.5 + 0.3 = 28.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led S&P 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Oil & Gas Refining & Marketing](https://www.sectoralpha.in/us/sectors/oil-gas-refining-marketing), all 17 compared on one page. ## Which companies are close to Icahn Enterprises L.P. in size? Icahn Enterprises L.P. is the 10th largest of 18 Oil & Gas Refining & Marketing companies on Sector Alpha by market value (scores of 3 November 2026). Just above it: Ultrapar Participações S.A., CVR Energy, Inc. and Delek US Holdings, Inc. Just below it: Par Pacific Holdings, Inc., Delek Logistics Partners, LP and Cosan S.A. ### Oil & Gas Refining & Marketing companies close in size

1. [Ultrapar Participações S.A.](https://www.sectoralpha.in/us/stocks/ugp) $6 billion
2. [CVR Energy, Inc.](https://www.sectoralpha.in/us/stocks/cvi) $4.9 billion
3. [Delek US Holdings, Inc.](https://www.sectoralpha.in/us/stocks/dk) $4.3 billion
4. Icahn Enterprises L.P. $3.8 billion
5. [Par Pacific Holdings, Inc.](https://www.sectoralpha.in/us/stocks/parr) $3.6 billion
6. [Delek Logistics Partners, LP](https://www.sectoralpha.in/us/stocks/dkl) $3.1 billion
7. [Cosan S.A.](https://www.sectoralpha.in/us/stocks/csan) $2.8 billion

[All 18 Oil & Gas Refining & Marketing companies, largest first](https://www.sectoralpha.in/us/sectors/oil-gas-refining-marketing#all-companies)

### Companies close in size in other industries

1. [Diodes Incorporated](https://www.sectoralpha.in/us/stocks/diod) $3.7 billion · Semiconductors
2. [Tango Therapeutics, Inc.](https://www.sectoralpha.in/us/stocks/tngx) $3.7 billion · Biotechnology
3. Icahn Enterprises L.P. $3.7 billion
4. [Renasant Corporation](https://www.sectoralpha.in/us/stocks/rnst) $3.7 billion · Banks - Regional
5. [Xenon Pharmaceuticals Inc.](https://www.sectoralpha.in/us/stocks/xene) $3.6 billion · Biotechnology

## What else do people ask about Icahn Enterprises L.P.? ### What were Icahn Enterprises L.P.'s latest quarterly results? Icahn Enterprises L.P. reported revenue of $3.0 B and a net loss of $388 M for the Jun 2026 quarter. Earnings per share were −$0.52. The operating margin was −8.6%, 3.9 percentage points lower than a year earlier (as of 3 November 2026). ### What is Icahn Enterprises L.P.'s market cap? Icahn Enterprises L.P.'s market capitalisation is $3.8 B at a stock price of $5.35. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Icahn Enterprises L.P. performing? Icahn Enterprises L.P.'s share price has been falling for 25 weeks. Over the past 13 weeks it has done worse than the S&P 500, for 27 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Icahn Enterprises L.P.'s stock price go up? This page does not forecast Icahn Enterprises L.P.'s stock price. What it shows instead: the stock price is $5.35, and it has been falling for 25 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 3 November 2026). ### Where is Icahn Enterprises L.P. in its business cycle? Icahn Enterprises L.P.'s FY25 operating margin was −0.1%, against a 5-year range of −0.3% to 5.3%: the low end of its own range, which is often where recoveries start. The latest quarter was −8.6%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Icahn Enterprises L.P. story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Icahn Enterprises L.P. a stock worth studying right now? What the numbers show: Icahn Enterprises L.P.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.