CF Industries: Shares Are Higher For Longer

CF Industries remains a strong buy, with durable cost advantages from U.S. natural gas and geopolitical disruptions supporting elevated margins. CF's forward GAAP P/E of 9.25 is 45.6% below the sector median, despite four years of superior earnings and a 56% YTD gain. Share buybacks and production growth have reduced share count by 57% since 2010 while increasing nitrogen output by 36%, compounding shareholder value.