C

CHS Inc.

CHSCO · CIK 0000823277

16 fiscal years · 0 SEC filings · every number carries its receipt

Revenue (FY)
$35.46B9.7%
FY2025
Net income (FY)
$597.9M45.8%
FY2025
Free cash flow (FY)
−$92.8M120.0%
FY2025
The story, charted

The shape of the business

FY2010–FY2025 · hover any year for its receipt
Revenue & net incomeRevenueNet income
$0$20B$40BFY2010 · Revenue $25.27B · Net income $502.2M · 0001445305-12-003500 · filed 2012-11-07FY10Revenue $25.27BNet income $502.2M0001445305-12-003500 · filed 2012-11-07FY2011 · Revenue $36.92B · Net income $961.4M · 0000823277-13-000037 · filed 2013-11-07FY11Revenue $36.92BNet income $961.4M0000823277-13-000037 · filed 2013-11-07FY2012 · Revenue $40.60B · Net income $1.26B · 0000823277-14-000032 · filed 2014-11-05FY12Revenue $40.60BNet income $1.26B0000823277-14-000032 · filed 2014-11-05FY2013 · Revenue $44.48B · Net income $992.4M · 0000823277-15-000024 · filed 2015-11-23FY13Revenue $44.48BNet income $992.4M0000823277-15-000024 · filed 2015-11-23FY2014 · Revenue $42.66B · Net income $1.08B · 0000823277-16-000065 · filed 2016-11-03FY14Revenue $42.66BNet income $1.08B0000823277-16-000065 · filed 2016-11-03FY2015 · Revenue $34.58B · Net income $781.0M · 0000823277-17-000053 · filed 2017-11-09FY15Revenue $34.58BNet income $781.0M0000823277-17-000053 · filed 2017-11-09FY2016 · Revenue $30.36B · Net income $383.2M · 0000823277-18-000065 · filed 2018-12-03FY16Revenue $30.36BNet income $383.2M0000823277-18-000065 · filed 2018-12-03FY2017 · Revenue $32.04B · Net income $71.6M · 0000823277-19-000036 · filed 2019-11-06FY17Revenue $32.04BNet income $71.6M0000823277-19-000036 · filed 2019-11-06FY2018 · Revenue $32.68B · Net income $775.9M · 0000823277-20-000034 · filed 2020-11-05FY18Revenue $32.68BNet income $775.9M0000823277-20-000034 · filed 2020-11-05FY2019 · Revenue $31.90B · Net income $829.9M · 0000823277-21-000044 · filed 2021-11-04FY19Revenue $31.90BNet income $829.9M0000823277-21-000044 · filed 2021-11-04FY2020 · Revenue $28.41B · Net income $422.4M · 0000823277-22-000050 · filed 2022-11-02FY20Revenue $28.41BNet income $422.4M0000823277-22-000050 · filed 2022-11-02FY2021 · Revenue $38.45B · Net income $554.0M · 0000823277-23-000053 · filed 2023-11-08FY21Revenue $38.45BNet income $554.0M0000823277-23-000053 · filed 2023-11-08FY2022 · Revenue $47.79B · Net income $1.68B · 0000823277-24-000046 · filed 2024-11-06FY22Revenue $47.79BNet income $1.68B0000823277-24-000046 · filed 2024-11-06FY2023 · Revenue $45.59B · Net income $1.90B · 0000823277-25-000038 · filed 2025-11-05FY23Revenue $45.59BNet income $1.90B0000823277-25-000038 · filed 2025-11-05FY2024 · Revenue $39.26B · Net income $1.10B · 0000823277-25-000038 · filed 2025-11-05FY24Revenue $39.26BNet income $1.10B0000823277-25-000038 · filed 2025-11-05FY2025 · Revenue $35.46B · Net income $597.9M · 0000823277-25-000038 · filed 2025-11-05FY25Revenue $35.46BNet income $597.9M0000823277-25-000038 · filed 2025-11-05FY25Revenue $35.46BNet income $597.9M0000823277-25-000038 · filed 2025-11-05FY11FY13FY15FY17FY19FY21FY23FY25

revenue 1.4× since FY2010 · net margin 2.0% → 1.7%

MarginsNet marginFCF margin
0%5%FY2010 · Net margin 2.0% · FCF margin -0.7%FY10Net margin 2.0%FCF margin -0.7%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2011 · Net margin 2.6% · FCF margin -0.0%FY11Net margin 2.6%FCF margin -0.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2012 · Net margin 3.1% · FCF margin 0.6%FY12Net margin 3.1%FCF margin 0.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2013 · Net margin 2.2% · FCF margin 4.2%FY13Net margin 2.2%FCF margin 4.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2014 · Net margin 2.5% · FCF margin 1.2%FY14Net margin 2.5%FCF margin 1.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2015 · Net margin 2.3% · FCF margin -1.8%FY15Net margin 2.3%FCF margin -1.8%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2016 · Net margin 1.3% · FCF margin 1.9%FY16Net margin 1.3%FCF margin 1.9%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2017 · Net margin 0.2% · FCF margin 1.6%FY17Net margin 0.2%FCF margin 1.6%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2018 · Net margin 2.4% · FCF margin 2.2%FY18Net margin 2.4%FCF margin 2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2019 · Net margin 2.6% · FCF margin 2.2%FY19Net margin 2.6%FCF margin 2.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2020 · Net margin 1.5% · FCF margin 2.4%FY20Net margin 1.5%FCF margin 2.4%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2021 · Net margin 1.4% · FCF margin 1.1%FY21Net margin 1.4%FCF margin 1.1%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2022 · Net margin 3.5% · FCF margin 3.3%FY22Net margin 3.5%FCF margin 3.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2023 · Net margin 4.2% · FCF margin 6.0%FY23Net margin 4.2%FCF margin 6.0%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2024 · Net margin 2.8% · FCF margin 1.2%FY24Net margin 2.8%FCF margin 1.2%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY2025 · Net margin 1.7% · FCF margin -0.3%FY25Net margin 1.7%FCF margin -0.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenueFY25Net margin 1.7%FCF margin -0.3%derived: net income ÷ revenue · derived: (ocf − capex) ÷ revenue’13’17’21’25

FY2025: net 1.7% · free cash flow -0.3% of revenue

Cash engineOperating cash flowFree cash flow
$0$2BFY2010 · OCF $150.0M · FCF −$174.3M · 0001445305-12-003500 · filed 2012-11-07FY10OCF $150.0MFCF −$174.3M0001445305-12-003500 · filed 2012-11-07FY2011 · OCF $301.3M · FCF −$9.3M · 0000823277-13-000037 · filed 2013-11-07FY11OCF $301.3MFCF −$9.3M0000823277-13-000037 · filed 2013-11-07FY2012 · OCF $718.6M · FCF $250.0M · 0000823277-14-000032 · filed 2014-11-05FY12OCF $718.6MFCF $250.0M0000823277-14-000032 · filed 2014-11-05FY2013 · OCF $2.47B · FCF $1.85B · 0000823277-15-000024 · filed 2015-11-23FY13OCF $2.47BFCF $1.85B0000823277-15-000024 · filed 2015-11-23FY2014 · OCF $1.44B · FCF $522.2M · 0000823277-16-000065 · filed 2016-11-03FY14OCF $1.44BFCF $522.2M0000823277-16-000065 · filed 2016-11-03FY2015 · OCF $570.0M · FCF −$616.8M · 0000823277-17-000053 · filed 2017-11-09FY15OCF $570.0MFCF −$616.8M0000823277-17-000053 · filed 2017-11-09FY2016 · OCF $1.26B · FCF $567.8M · 0000823277-18-000065 · filed 2018-12-03FY16OCF $1.26BFCF $567.8M0000823277-18-000065 · filed 2018-12-03FY2017 · OCF $954.7M · FCF $510.3M · 0000823277-19-000036 · filed 2019-11-06FY17OCF $954.7MFCF $510.3M0000823277-19-000036 · filed 2019-11-06FY2018 · OCF $1.07B · FCF $719.1M · 0000823277-20-000034 · filed 2020-11-05FY18OCF $1.07BFCF $719.1M0000823277-20-000034 · filed 2020-11-05FY2019 · OCF $1.14B · FCF $696.7M · 0000823277-21-000044 · filed 2021-11-04FY19OCF $1.14BFCF $696.7M0000823277-21-000044 · filed 2021-11-04FY2020 · OCF $1.09B · FCF $668.9M · 0000823277-22-000050 · filed 2022-11-02FY20OCF $1.09BFCF $668.9M0000823277-22-000050 · filed 2022-11-02FY2021 · OCF $757.8M · FCF $440.0M · 0000823277-23-000053 · filed 2023-11-08FY21OCF $757.8MFCF $440.0M0000823277-23-000053 · filed 2023-11-08FY2022 · OCF $1.95B · FCF $1.59B · 0000823277-24-000046 · filed 2024-11-06FY22OCF $1.95BFCF $1.59B0000823277-24-000046 · filed 2024-11-06FY2023 · OCF $3.28B · FCF $2.72B · 0000823277-25-000038 · filed 2025-11-05FY23OCF $3.28BFCF $2.72B0000823277-25-000038 · filed 2025-11-05FY2024 · OCF $1.27B · FCF $464.1M · 0000823277-25-000038 · filed 2025-11-05FY24OCF $1.27BFCF $464.1M0000823277-25-000038 · filed 2025-11-05FY2025 · OCF $635.8M · FCF −$92.8M · 0000823277-25-000038 · filed 2025-11-05FY25OCF $635.8MFCF −$92.8M0000823277-25-000038 · filed 2025-11-05FY25OCF $635.8MFCF −$92.8M0000823277-25-000038 · filed 2025-11-05’13’17’21’25

FY2025: $635.8M operating cash − $728.6M capex = −$92.8M free cash flow

Returns on capitalReturn on equityReturn on assets
0%10%20%30%FY2011 · ROE 24.6% · ROA 7.9%FY11ROE 24.6%ROA 7.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2012 · ROE 28.3% · ROA 9.2%FY12ROE 28.3%ROA 9.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2013 · ROE 19.3% · ROA 7.3%FY13ROE 19.3%ROA 7.3%derived: net income ÷ equity · derived: net income ÷ assetsFY2014 · ROE 16.8% · ROA 7.1%FY14ROE 16.8%ROA 7.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2015 · ROE 10.2% · ROA 5.1%FY15ROE 10.2%ROA 5.1%derived: net income ÷ equity · derived: net income ÷ assetsFY2016 · ROE 4.9% · ROA 2.2%FY16ROE 4.9%ROA 2.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2017 · ROE 0.9% · ROA 0.5%FY17ROE 0.9%ROA 0.5%derived: net income ÷ equity · derived: net income ÷ assetsFY2018 · ROE 9.5% · ROA 4.7%FY18ROE 9.5%ROA 4.7%derived: net income ÷ equity · derived: net income ÷ assetsFY2019 · ROE 9.6% · ROA 5.0%FY19ROE 9.6%ROA 5.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2020 · ROE 4.8% · ROA 2.6%FY20ROE 4.8%ROA 2.6%derived: net income ÷ equity · derived: net income ÷ assetsFY2021 · ROE 6.1% · ROA 3.2%FY21ROE 6.1%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY2022 · ROE 17.8% · ROA 8.9%FY22ROE 17.8%ROA 8.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2023 · ROE 18.2% · ROA 10.0%FY23ROE 18.2%ROA 10.0%derived: net income ÷ equity · derived: net income ÷ assetsFY2024 · ROE 10.2% · ROA 5.9%FY24ROE 10.2%ROA 5.9%derived: net income ÷ equity · derived: net income ÷ assetsFY2025 · ROE 5.4% · ROA 3.2%FY25ROE 5.4%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assetsFY25ROE 5.4%ROA 3.2%derived: net income ÷ equity · derived: net income ÷ assets’13’16’19’22’25

return on equity 25% (FY2011) → 5% (FY2025) · on assets 3.2%

The receipts