Corteva, Inc.CTVA

Corteva, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Corteva drove a massive 46% increase in Operating EBITDA over a four-year stretch where top-line revenue grew by just 11%. This stark divergence highlights a successful core strategy of prioritizing aggressive price execution and cost restructuring over sheer volume. This disciplined approach establishes a highly profitable foundation ahead of the agricultural giant's planned split into two independent Seed and Crop Protection businesses in 2026. Anchoring the broader timeline, overall revenue grew from $15.7 billion in FY2021 to $17.4 billion in FY2025.

Operating profitability metrics accelerated consistently throughout this period. Operating EBITDA climbed from $2.6 billion in FY2021 to $3.8 billion in FY2025, fueled by sustained price hikes and a sweeping crop protection restructuring program designed to generate $180 million in annual savings by 2027. The company also maintained a strict capital return strategy, distributing $1.5 billion to shareholders through dividends and buybacks during FY2025. Investors heavily rewarded this margin expansion and the upcoming spin-off catalyst. At the close of FY2025, the market valued Corteva at a $45.1 billion market cap, with the stock ending the period at $67.03 and a premium 41.9x earnings multiple.

Recent Developments (Q4 2025 and Q1 2026)

Corteva accelerated growth in Q1 2026, generating $4.9 billion in net sales for an 11% year-over-year expansion. Operating EBITDA jumped 21% to $1.4 billion, reflecting volume increases across both segments. Management formally named Chuck Magro to lead the standalone Seed business, Vylor, Inc., while Luther Kissam will direct the Crop Protection enterprise. To optimize this separation, the company expanded its restructuring footprint by slating a Spain facility for closure, pushing total expected pre-tax charges up to a range of $750 million to $815 million.

Bulls argue the simultaneous double-digit revenue and earnings growth validates underlying business health ahead of the spin-off. Conversely, bears caution that trading at 51.1x earnings as of the Q1 2026 report demands flawless execution, particularly after operations recently recorded a negative $2.9 billion in cash flow.

What to watch: finalized restructuring cash outlays; operational transitions for the newly appointed executive teams

Rev

$17.40B

+2.9% YoY

FY2025

NI

$1.10B

+20.2% YoY

FY2025

EPS

$1.60

+22.1% YoY

FY2025

OCF

$3.41B

+58.8% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All CTVA Financial Metrics(59)

Recent SEC Filings

Corteva, Inc. 8-K Report, Executive Changes (Jun 29, 2026)

Corteva, Inc. has filed an 8-K report detailing significant changes related to its anticipated spin-off of the seed business into a new independent entity, Vylor, Inc. Key leadership transitions are underway, with four directors – Karen Grimes, Marcos Lutz, Charles Magro, and Kerry Preete – set to resign from Corteva's board. These resignations are effective upon the consummation of the spin-off and are a direct result of these individuals being slated to join the board of directors for Vylor. Importantly, the company states these departures are not due to any disagreements regarding Corteva's operations or policies, signaling a planned and strategic board reconfiguration for both entities post-separation. Furthermore, Corteva announced the formation of the post-separation boards for both Corteva and Vylor through separate press releases. This filing also confirms that Vylor has publicly filed its Form 10 registration statement with the SEC, providing detailed information about its business, strategy, and historical financials, which is now accessible to investors. These actions represent critical steps in Corteva's strategic plan to create two distinct, publicly traded companies, with the management and board structures being actively shaped to support their future independent operations.

Corteva, Inc. 8-K/A Report, Exit or Disposal Costs (Jun 12, 2026)

Corteva, Inc. (CTVA) has announced an expanded scope for its multi-year footprint optimization and productivity initiative, referred to as the Crop Protection Operations Strategy Restructuring Program. The company has committed to the next phase of this program, which includes the intended cessation of production activities at its Asturias, Spain site, subject to consultation processes. Additionally, management has revised its previous estimates related to the exit of its Pittsburg, California production activities. These actions are expected to result in an aggregate pre-tax restructuring and asset-related charge of $750 million to $815 million, an increase of $100 million to $115 million from prior estimates. The charges are comprised of severance, asset-related impairments, and costs associated with exiting production and ceasing operations. Cash payments for these charges are projected to be between $400 million and $443 million, with the overall restructuring substantially complete by the end of 2028. Investors should monitor the outcomes of consultation processes and potential adjustments to these estimates.

Corteva, Inc. 8-K Report, Financial Results (May 5, 2026)

Corteva, Inc. (CTVA) has filed its Form 8-K on May 5, 2026, to report its consolidated financial results for the first quarter ended March 31, 2026. While the filing itself primarily serves to furnish these results and related schedules, it indicates that the company has officially announced its performance for the period. Investors should refer to the press release (Exhibit 99.1) and financial statement schedules (Exhibit 99.2) for detailed insights into revenue, profitability, and other key financial metrics. The filing emphasizes that the information furnished is not deemed "filed" for the purposes of Section 18 of the Exchange Act, meaning it does not carry the same liabilities as a formally filed document. However, it remains a crucial source of information for understanding the company's recent operational and financial standing. Investors are encouraged to examine the exhibits to gain a comprehensive understanding of Corteva's Q1 2026 performance and its implications for future strategic direction.

Corteva, Inc. 8-K Report, Shareholder Vote Results (May 1, 2026)

Corteva, Inc. (CTVA) filed an 8-K on May 1, 2026, reporting the results of its Annual Meeting of Stockholders held on April 28, 2026. The meeting saw a strong turnout, with 89.16% of outstanding shares represented. Key outcomes include the overwhelming election of all 12 nominated directors to the Board, the advisory approval of executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026. The advisory vote on the frequency of executive compensation votes also resulted in a strong preference for an annual vote.

Corteva, Inc. 8-K Report, Executive Changes (Apr 14, 2026)

Corteva, Inc. (CTVA) announced on April 14, 2026, significant leadership appointments and transitions related to its previously announced tax-free spin-off of its seed business (SpinCo) and crop protection business (New Corteva). The filing details the executive leadership teams for both newly formed independent companies, effective at the spin-off. Notably, current CEO Charles V. Magro will lead SpinCo, while Luther ("Luke") Kissam, an experienced executive with a background at Albemarle Corporation, has been appointed CEO of New Corteva, effective at the spin-off. Mr. Kissam will join Corteva as CEO of the Crop Protection Business Unit on June 1, 2026, to oversee the transition. This leadership realignments marks a critical step towards the completion of the spin-off, aiming to create two distinct, publicly traded entities. Investors should pay close attention to the compensation packages for the new leadership, particularly Mr. Kissam's, which include a substantial base salary, incentive opportunities, and equity awards. The company also confirmed other key executive appointments for both SpinCo and New Corteva, and outlined a transitional role for Robert D. King, Executive Vice President of the Crop Protection Business Unit.

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