CF vs. PPG: CF Industries vs. PPG Industries Stock Comparison

November 11, 2026

How do CF Industries (CF) and PPG Industries (PPG) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

CF Industries (CF) and PPG Industries (PPG) both belong to the Chemicals industry, though CF is classified under Fertilizers & Agricultural Chemicals while PPG falls under Specialty Chemicals.

Company profile comparison for CF Industries (CF) and PPG Industries (PPG)
Profile Item	CF	PPG
Name	CF Industries Holdings, Inc.	PPG Industries, Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Chemicals
GICS Sub-Industry	Fertilizers & Agricultural Chemicals	Specialty Chemicals
Market Capitalization	17.46 billion USD	27.03 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	August 11, 2005	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

PPG

GSPC

CF Industries (CF) vs. PPG Industries (PPG), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for CF Industries (CF) and PPG Industries (PPG). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for CF Industries (CF) and PPG Industries (PPG). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Total Return (1Y)	49.36%	33.84%
Total Return (3Y, Annualized)	17.00%	1.70%
Total Return (5Y, Annualized)	16.09%	-2.93%

Risk Profile

Drawdown History

PPG

GSPC

CF Industries (CF) vs. PPG Industries (PPG), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for CF Industries (CF) and PPG Industries (PPG). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Volatility (1Y, Annualized)	43.66%	31.28%
Beta (5Y)	0.56	0.97
Max Drawdown (5Y)	-48.36%	-43.55%
Avg. Volume (3M)	2.49M	1.73M

Risk-Adjusted Performance

Risk-Return Positioning

CF and PPG are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Sharpe Ratio (1Y)	1.03	0.95
Sortino Ratio (1Y)	1.59	1.45

Profitability

ROE (TTM)

CF Industries (CF) at 30.86% sits in the top ROE quartile, while PPG Industries (PPG) at 19.49% is closer to the peer norm — stronger capital efficiency for CF.

CF

Materials industry group

30.86%

Max: 52.88%
CF: 30.86%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

PPG

Materials industry group

19.49%

Max: 52.88%
PPG: 19.49%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

CF Industries (CF) at 27.48% retains a top-quartile share of revenue as profit, ahead of PPG Industries (PPG) at 9.41%, which keeps about the industry-typical share.

CF

Materials industry group

27.48%

Max: 38.66%
CF: 27.48%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

PPG

Materials industry group

9.41%

Max: 38.66%
Q3: 15.98%
PPG: 9.41%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

CF Industries (CF) at 34.36% operates in the top operating margin quartile, ahead of PPG Industries (PPG) at 14.66%, which runs around its industry’s norm.

CF

Materials industry group

34.36%

Max: 66.70%
CF: 34.36%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

PPG

Materials industry group

14.66%

Max: 66.70%
Q3: 28.92%
PPG: 14.66%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
ROE (TTM)	30.86%	19.49%
ROA (TTM)	12.61%	6.22%
Net Margin (TTM)	27.48%	9.41%
Operating Margin (TTM)	34.36%	14.66%
Gross Margin (TTM)	42.52%	41.18%

Growth

Revenue Growth

Both CF Industries (CF) at 19.34% and PPG Industries (PPG) at 0.19% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both CF Industries (CF) at 33.09% and PPG Industries (PPG) at 46.11% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Revenue Growth (YoY)	19.34%	0.19%
Revenue Growth (3Y CAGR)	-14.12%	0.55%
EPS Growth (YoY)	33.09%	46.11%
EPS Growth (3Y CAGR)	-18.19%	17.12%

Financial Strength

Current Ratio (MRQ)

Both CF Industries (CF) at 2.98 and PPG Industries (PPG) at 1.58 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

CF

Materials industry group

2.98

Max: 5.96
Q3: 3.30
CF: 2.98
Median: 2.24
Q1: 1.45
Min: 0.16

PPG

Materials industry group

1.58

Max: 5.96
Q3: 3.30
Median: 2.24
PPG: 1.58
Q1: 1.45
Min: 0.16

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both CF Industries (CF) at 0.41 and PPG Industries (PPG) at 0.87 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

CF

Materials industry group

0.41

Max: 1.98
Q3: 0.89
Median: 0.47
CF: 0.41
Q1: 0.13
Min: 0.00

PPG

Materials industry group

0.87

Max: 1.98
Q3: 0.89
PPG: 0.87
Median: 0.47
Q1: 0.13
Min: 0.00

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Current Ratio (MRQ)	2.98	1.58
Debt / Equity (MRQ)	0.41	0.87
Net Debt / EBITDA	0.21	2.11

Dividends

Dividend Yield (TTM)

PPG Industries (PPG) at 2.33% delivers top-quartile income for its industry, while CF Industries (CF) at 1.77% pays a more typical yield — both are credible income propositions, PPG the richer one.

CF

Materials industry group

1.77%

Max: 4.52%
Q3: 1.85%
CF: 1.77%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

PPG

Materials industry group

2.33%

Max: 4.52%
PPG: 2.33%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both CF Industries (CF) at 14.81% and PPG Industries (PPG) at 40.31% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

CF

Materials industry group

14.81%

Max: 83.62%
Q3: 41.37%
CF: 14.81%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

PPG

Materials industry group

40.31%

Max: 83.62%
Q3: 41.37%
PPG: 40.31%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
Dividend Yield (TTM)	1.77%	2.33%
Dividend Payout Ratio (TTM)	14.81%	40.31%

Valuation

P/E Ratio (TTM)

CF Industries (CF) at 8.42 sits in the cheaper P/E ratio quartile, while PPG Industries (PPG) at 17.19 is closer to its industry’s usual earnings multiple — a discount for CF, though growth and earnings durability still matter.

CF

Materials industry group

8.42

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
CF: 8.42
Min: 3.93

PPG

Materials industry group

17.19

Max: 59.00
Q3: 32.93
Median: 18.82
PPG: 17.19
Q1: 11.96
Min: 3.93

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both CF Industries (CF) at 2.20 and PPG Industries (PPG) at 1.62 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

CF

Materials industry group

2.20

Max: 9.62
Q3: 4.34
CF: 2.20
Median: 1.87
Q1: 0.73
Min: 0.00

PPG

Materials industry group

1.62

Max: 9.62
Q3: 4.34
Median: 1.87
PPG: 1.62
Q1: 0.73
Min: 0.00

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both CF Industries (CF) at 3.10 and PPG Industries (PPG) at 3.19 are valued close to their industries’ norm against book — neither stands out from peers.

CF

Materials industry group

3.10

Max: 6.59
Q3: 3.55
CF: 3.10
Median: 2.08
Q1: 1.26
Min: -0.17

PPG

Materials industry group

3.19

Max: 6.59
Q3: 3.55
PPG: 3.19
Median: 2.08
Q1: 1.26
Min: -0.17

CF Industries (CF) vs. PPG Industries (PPG): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for CF Industries (CF) and PPG Industries (PPG)
Metric	CF	PPG
P/E Ratio (TTM)	8.42	17.19
P/S Ratio (TTM)	2.20	1.62
P/B Ratio (MRQ)	3.10	3.19
Free Cash Flow Yield (TTM)	9.10%	4.06%