IEP

Industrials

Icahn Enterprises L.P. · Conglomerates · $5B

UQS Score — Balanced Preset
30.1
Poor

Icahn Enterprises L.P. scores 30.1/100 using the Balanced preset.

UQS vs Industrials Sector
IEP
30.1
Sector avg
42.4
Quality
Weak
Moat
Weak
Growth
Neutral
Risk
Weak
Valuation
Good

What is Icahn Enterprises L.P.?

Icahn Enterprises L.P. is a diversified holding company controlled by activist investor Carl Icahn, operating across a wide range of industries in the United States and internationally. Its structure spans everything from energy refining to home fashion retail.

Icahn Enterprises generates revenue through a collection of operating subsidiaries and a proprietary investment fund. Its Energy segment refines transportation fuels and produces nitrogen fertilizers. The Automotive segment distributes parts and provides repair services. Other segments cover food packaging casings for processed meats, real estate rentals and home construction, home fashion consumer goods, and pharmaceutical products and services. The Investment segment deploys the partnership's own capital through private funds.

Incorporated in 1987 and headquartered in Sunny Isles Beach, Florida.

  • Transportation fuel refining and nitrogen fertilizer production
  • Automotive parts distribution and repair services
  • Cellulosic and fibrous food packaging casings
  • Real estate rentals, homebuilding, and hospitality operations
  • Proprietary capital investment through private funds

Is IEP a Good Stock to Buy?

UQS Score rates IEP as Below Average overall.

The Valuation pillar stands out as Attractive relative to peers, suggesting the market may be pricing in significant pessimism. The Growth pillar registers as Neutral, meaning the business is not in outright decline across all segments.

Quality, Moat, and Risk all score as Weak — the three pillars that typically underpin durable long-term returns. The conglomerate structure makes consistent earnings power difficult to assess, and the Risk profile reflects meaningful balance-sheet and operational concerns.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does IEP pay dividends?

Yes — Icahn Enterprises L.P. pays a dividend.

Icahn Enterprises pays a regular distribution to unitholders, which has historically been a central part of its appeal as a master limited partnership. However, given the Weak Quality and Risk pillar ratings, investors should weigh whether the distribution is supported by durable cash generation. The full dividend sustainability analysis is available to Pro members.

When does IEP report earnings?

Icahn Enterprises reports earnings on a quarterly cadence, typical for US-listed partnerships.

Given the conglomerate's breadth of segments, quarterly results can vary significantly depending on commodity prices in Energy, automotive demand cycles, and investment fund performance. No single segment consistently dominates the top line.

For the most recent quarter's results, visit Icahn Enterprises' investor relations page directly.

IEP Price History

-64.5% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Icahn Enterprises L.P.?

$
Today it would be worth
$3,624
That's a -63.8% total return, or -18.4% annualized.

Based on Icahn Enterprises L.P.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

IEP Long-term Outlook

The fundamental outlook for IEP is mixed. A Neutral Growth pillar suggests the business is not in freefall, but the Weak Quality and Risk pillars indicate structural headwinds that could limit upside. The Attractive Valuation label reflects a discounted market price, though a discount alone does not guarantee improvement in underlying business performance.

Growth drivers

  • Potential recovery in energy margins and fertilizer demand
  • Activist-driven value creation within portfolio companies
  • Real estate and hospitality segment stabilization

Key risks

  • Concentrated governance risk tied to a single controlling figure
  • Weak balance-sheet profile flagged by the Risk pillar
  • Conglomerate discount limiting re-rating potential despite Attractive Valuation

IEP vs Peers

IEP operates in a diversified industrials space alongside other multi-segment companies, though each competitor has a distinct business mix.

SEBIEP scores lower
Seaboard Corporation

Seaboard focuses primarily on pork processing and ocean shipping, offering a more concentrated revenue profile than IEP's sprawling conglomerate structure.

MDUSimilar UQS
MDU Resources Group, Inc.

MDU combines regulated utility operations with construction services, giving it more predictable cash flows compared to IEP's investment-driven model.

GFFIEP scores lower
Griffon Corporation

Griffon operates in home and building products with a tighter segment focus, contrasting with IEP's exposure across energy, automotive, real estate, and more.

Frequently Asked Questions

What does Icahn Enterprises do?

Icahn Enterprises is a diversified holding company that operates across energy refining, automotive parts distribution, food packaging, real estate, home fashion, pharmaceuticals, and a proprietary investment fund. Revenue comes from a broad mix of operating subsidiaries rather than a single core business.

Does IEP pay dividends?

Yes, Icahn Enterprises pays a regular distribution to unitholders as a master limited partnership. The sustainability of that distribution is a key question given the Weak Quality and Risk pillar ratings — Pro members can access the full analysis.

When does IEP report earnings?

Icahn Enterprises reports on a quarterly cadence, standard for US-listed entities. Because results span many segments — from energy to real estate — quarterly swings can be significant. Check the company's investor relations page for the latest schedule.

Is IEP a good stock to buy?

UQS Score rates IEP as Below Average, driven by Weak Quality, Moat, and Risk pillars. The Valuation pillar is Attractive, which may interest contrarian investors, but a low price alone does not offset structural concerns. The complete analysis is available to Pro members.

Is IEP overvalued?

The UQS Valuation pillar rates IEP as Attractive, suggesting the market has priced in considerable risk. Whether that discount is an opportunity or a warning depends heavily on the Quality and Risk pillars — both of which are currently rated Weak.

How does IEP compare to its competitors?

Compared to peers like Seaboard, MDU Resources, and Griffon Corporation, IEP has a far broader and more complex operating structure. That breadth can dilute returns and makes consistent quality harder to achieve, which is reflected in the Below Average overall UQS Score.

What is IEP's market cap bracket?

Icahn Enterprises is classified as a mid-cap company. Despite the scale of its operations across multiple industries, its market valuation places it in the mid-cap range rather than large- or mega-cap territory.

Who founded Icahn Enterprises?

Icahn Enterprises is associated with Carl Icahn, one of the most prominent activist investors in US history. The partnership was incorporated in 1987 and has been shaped by Icahn's investment philosophy of acquiring and restructuring undervalued businesses.

Is IEP a long-term quality investment?

As a long-term quality indicator, IEP's Below Average UQS Score — with Weak readings across Quality, Moat, and Risk — suggests the business lacks the durable competitive advantages typically associated with compounding long-term returns. The Neutral Growth pillar provides some offset but is not sufficient on its own.

What is the main competitive advantage of Icahn Enterprises?

IEP's primary differentiator is its access to Carl Icahn's activist investment strategy and the ability to acquire distressed or undervalued businesses. However, the UQS Moat pillar rates this advantage as Weak, indicating it has not translated into a durable structural edge at the portfolio level.

What sector does IEP belong to?

Icahn Enterprises is classified under the Industrials sector, though its operations span energy, automotive, food packaging, real estate, home fashion, and pharmaceuticals. This makes it one of the more diversified entities within the sector.

Is IEP a growth stock or value stock?

Based on UQS pillar labels, IEP leans toward value territory — the Valuation pillar is Attractive while Growth is only Neutral. It does not exhibit the high-growth characteristics of a growth stock, and the Weak Quality profile complicates a straightforward value thesis.

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Pro Analysis

IEP — Score History

2025303540Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 12 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 18, 202629.63.315.050.323.576.2-3.0
May 10, 202632.60.015.050.336.988.30.0
May 8, 202632.60.015.050.336.988.5-0.6
May 7, 202633.27.915.050.328.087.9+0.3
May 3, 202632.97.915.050.328.086.3-0.2
Apr 26, 202633.17.915.050.328.087.1-0.2
Apr 23, 202633.37.915.050.328.088.70.0
Apr 19, 202633.37.915.050.328.088.9-0.1
Apr 18, 202633.47.915.050.328.089.1-0.2
Apr 12, 202633.67.915.050.328.090.5+0.1

IEP — Pillar Breakdown

Quality

3.3/100 (25%)

Icahn Enterprises L.P. currently shows below-average quality metrics, suggesting challenges with profitability.

Capital Efficiency (ROIC)Weak

How effectively capital is deployed to generate returns.

Return on EquityWeak

Profitability relative to shareholders' equity.

Operating ProfitabilityWeak

Ability to convert revenue into operating profit.

Net ProfitabilityWeak

Bottom-line profit as a share of revenue.

Gross Profit / AssetsWeak

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationWeak

Free cash flow relative to market value.

Growth

50.3/100 (20%)

Icahn Enterprises L.P. shows steady but unspectacular growth, typical for mature companies.

Recent Revenue TrendWeak

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthStrong

Year-over-year earnings per share growth.

Forward Revenue OutlookModerate

Analyst consensus for future revenue growth.

Forward EPS GrowthStrong

Analyst consensus for future earnings growth.

Risk

23.5/100 (15%)

Icahn Enterprises L.P. presents elevated risk with concerns around leverage or financial stability.

Financial LeverageWeak

Debt levels relative to earnings capacity.

Debt/EquityWeak

Total debt relative to shareholder equity.

Current RatioStrong

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

79.3/100 (15%)

Icahn Enterprises L.P. appears attractively valued relative to its earnings, cash flows, and sector peers.

Earnings YieldStrong

Inverse of forward P/E — higher yield means cheaper stock.

PEG RatioStrong

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorModerate

Enterprise value multiple relative to sector median.

Moat

15/100 (25%)

Icahn Enterprises L.P. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for IEP.

Score Composition

Quality
3.3×25%0.8
Growth
50.3×20%10.1
Risk
23.5×15%3.5
Valuation
79.3×15%11.9
Moat
15.0×25%3.8
Total
30.1Poor

Financial Data

More Stock Analysis

How is the IEP UQS Score Calculated?

The UQS (Unified Quality Score) for Icahn Enterprises L.P. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Icahn Enterprises L.P.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Icahn Enterprises L.P. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.