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CHS (CHSCP) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Nov 4, 2026 · CHS (CHSCP) Q4 FY26 earnings results →

Q4 FY26 Revenue up 21% year over year to $10.4B · 7¢ of every $1 of revenue kept as net profit · operating margin 5.8%

CHS made $10.4B in Q4 FY26 (+21% Y/Y): Grains $5.5B, Energy $3.6B, Agronomy $1.3B. Operating margin 5.8%, net earnings $715M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Nov 4, 2026.

Revenue$10.4B
Year over year+21%
Operating margin5.8%
Net earnings$715M
Operating cash flow$1.4B

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CHS Q4 FY26 revenue breakdown: Sankey diagram of revenue (Grains, Energy, Agronomy), costs, profit and cash flow
CHS Q4 FY26 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $10.4B in Q4 FY26, up 21% year over year and down 10% from the previous quarter. Grains was the largest line at 53% of revenue.

Gross margin was 9.2%, up 5.4 points from Q4 FY25. Operating profit was $0.60B, a 5.8% margin (up 5.2 points year over year). Of the extra revenue versus Q4 FY25, 30% reached operating profit, above the 1% margin then. Operating expenses grew 30% against revenue growth of 21%. Net earnings were $0.72B, up 264% year over year. The effective tax rate was 3.3%.

Operating cash flow was $1.4B (up 9% year over year), 193% of net earnings. Non-cash charges added back $0.17B of depreciation and amortization. Working capital and other items added $0.50B. Capital expenditures of $0.12B left free cash flow of $1.3B.

Quarterly history

CHS revenue by quarterCHS revenue by quarter$7.8BQ2 FY25$9.8BQ3 FY25$8.6BQ4 FY25$8.9BQ1 FY26$8.4BQ2 FY26$11.6BQ3 FY26$10.4BQ4 FY26
CHS net earnings by quarterCHS net earnings by quarter−$76.0MQ2 FY25$232MQ3 FY25$197MQ4 FY25$260MQ1 FY26−$147MQ2 FY26$267MQ3 FY26$715MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KNov 4, 2026$10.4B+21%5.8%$715M$1.4B
Q3 FY2610-QJul 8, 2026$11.6B+19%0.9%$267M$1.1B
Q2 FY2610-QApr 8, 2026$8.4B+7%-2.9%−$147M−$569M
Q1 FY2610-QJan 7, 2026$8.9B-5%1.4%$260M−$338M
Q4 FY2510-KNov 5, 2025$8.6B-6%0.6%$197M$1.3B
Q3 FY2510-QJul 9, 2025$9.8B+2%0.7%$232M$697M
Q2 FY2510-QApr 2, 2025$7.8B-14%-2.2%−$76.0M−$1.0B

Charts

CHS: revenue growth, year over year and quarter over quarterCHS: revenue growth, year over year and quarter over quarterY/YQ/Q-14%Q2 FY25+2%+25%Q3 FY25-6%-12%Q4 FY25-5%+3%Q1 FY26+7%-6%Q2 FY26+19%+39%Q3 FY26+21%-10%Q4 FY26
Latest (Q4 FY26): Y/Y +21%, Q/Q -10%.
CHS: where the cash came from (+) and went (−), FY26CHS: where the cash came from (+) and went (−), FY26Operating cash flow$1.6BOther financing−$704MCapital spending−$463MOther investing−$370MNet borrowing (+) / repaid (−)−$92.7MAsset & business sales$31.1MCash drawn (+) / kept (−)$12.4MExchange rates$2.8M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
CHS: profit against cash, quarter by quarterCHS: profit against cash, quarter by quarterNet incomeOperating cash flow$246M−$294MQ1 FY25−$76.0M−$1.0BQ2 FY25$232M$697MQ3 FY25$197M$1.3BQ4 FY25$260M−$338MQ1 FY26−$147M−$569MQ2 FY26$267M$1.1BQ3 FY26$715M$1.4BQ4 FY26
Latest (Q4 FY26): Net income $715M, Operating cash flow $1.4B.
CHS: long-term debt falling due (FY26)CHS: long-term debt falling due (FY26)$58.6M2027$191M2028$150K2029$450M2030$200M2031$1.1BLater
Cash $264M, short-term investments —, long-term debt $2.0B at 2026-08-31.
CHS in its industry: growth against margin (5 companies, SIC 5150)CHS in its industry: growth against margin (5 companies, SIC 5150)revenue growth, year over year →↑ operating marginmedian +6%median 6%ANDESEBUVVPYYXCHSCP (+21%, 6%)
Wholesale-Farm Product Raw Materials; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About CHS

CHS Inc. (referred to herein as "CHS," "company," "we," "us" or "our") is the nation’s leading integrated agricultural cooperative, providing grain, food, agronomy and energy resources to businesses and consumers on a global basis. As a cooperative, we are owned by farmers, ranchers and member cooperatives (referred to herein as "members") across the United States. We also have preferred shareholders who own shares of our five series of preferred stock, which are listed and traded on the Global Select Market of The Nasdaq Stock Market LLC (“Nasdaq”). We buy grain and oilseeds from and provide products and services to our members (individual agricultural producers and local cooperatives) and other companies (nonmember customers) domestically and internationally.

In its own words, from its 10-K, filed Nov 4, 2026.

CHS against its Wholesale-Farm Product Raw Materials peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +21% against the peers' median +6%. Operating margin: 5.8% against the peers' median 5.8%.

CompanyQuarterRevenueY/YOp. margin
CHSCP CHSQ4 FY26$10.4B+21%5.8%
ANDE AndersonsQ3 2026$2.8B+6%1.8%
SEB SeaboardQ3 2026$2.8B+9%0.5%
UVV UniversalQ2 FY27$617M-18%6.9%
PYYX Pyxus InternationalQ2 FY27$534M-6%7.5%

Source: CHS 10-K on SEC EDGAR · CIK 823277 · Wholesale-Farm Product Raw Materials

Guidance and outlook

CHS: what its forward-looking statements are about (10-K filed 2026-11-04)CHS: what its forward-looking statements are about (10-K filed 2026-11-04)Costs5Other3Capital spending2Demand1Supply chain1Buybacks & dividends1Financing1Legal & regulation1The economy1
16 statements; tone -0.06 (−1 all cautious, +1 all confident); 6 hedged.
CHS: outlook statements against the filing beforeCHS: outlook statements against the filing beforeNew6Updated8Dropped2Confident2Cautious3

More on CHSCP

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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