<div id="readability-page-1"><div><ul> <li>If you have been wondering whether Nutrien's current share price really reflects its underlying value, you are not alone. This article is designed to help you frame that question clearly.</li> <li>Nutrien's share price, which last closed at C$113.79, sits against a return profile of 9.9% over 7 days, 14.8% over 30 days, 31.1% year to date, 62.1% over 1 year, 28.1% over 3 years and 88.7% over 5 years. This naturally raises questions about how much of that performance is already priced in.</li> <li>Recent coverage has focused on Nutrien's position in the materials sector and how investors are reacting to changes in sentiment toward fertilizer and agricultural input suppliers. This context around sector attention and shifting risk appetite helps explain why the recent price moves are drawing more interest to what the shares might be worth today.</li> <li>On our framework, Nutrien scores 4 out of 6 on valuation checks. You can see the breakdown of that valuation score before we walk through the usual multiples and cash flow approaches, then finish with a more complete way to think about what the market is really pricing in.</li> </ul> <p>Find out why Nutrien's 62.1% return over the last year is lagging behind its peers.</p> <h3>Approach 1: Nutrien Discounted Cash Flow (DCF) Analysis</h3> <p>A Discounted Cash Flow model estimates what a company might be worth today by projecting future cash flows and discounting them back to a present value. For Nutrien, the model used is a 2 Stage Free Cash Flow to Equity approach based on cash flow projections.</p> <p>Nutrien's latest twelve month Free Cash Flow stands at about $1.79b. The DCF model uses analyst projections for the next few years, then extends those estimates further out, including a projected Free Cash Flow of $2.30b in 2030. Beyond the explicit analyst horizon, Simply Wall St extrapolates the ten year path of cash flows using the data you see in the forecast table.</p> <p>When all those projected cash flows are discounted back, the model arrives at an estimated intrinsic value of CA$134.68 per share, compared with the recent share price of CA$113.79. On this basis, the DCF implies Nutrien trades at about a 15.5% discount to that estimate, which points to the shares looking undervalued on this model alone.</p> <p><strong>Result: UNDERVALUED</strong></p> <p>Our Discounted Cash Flow (DCF) analysis suggests Nutrien is undervalued by 15.5%. Track this in your watchlist or portfolio, or discover 7 more high quality undervalued stocks.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/dcf/query-ZGF0ZT0yMDI2LTAzLTE0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/dcf/query-ZGF0ZT0yMDI2LTAzLTE0"/><figcaption>NTR Discounted Cash Flow as at Mar 2026</figcaption></figure> <p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Nutrien.</p> <h3>Approach 2: Nutrien Price vs Earnings</h3> <p>For a profitable company like Nutrien, the P/E ratio is a straightforward way to think about what you are paying for each dollar of earnings. Investors usually expect higher P/E ratios when they see stronger growth potential or lower risk, and lower P/E ratios when they see slower growth or higher risk.</p> <p>Nutrien currently trades on a P/E of 17.59x. That sits below the Chemicals industry average P/E of 22.13x and also below the peer group average of 21.88x. On simple comparisons, the shares trade on a lower multiple than many similar companies in the sector.</p> <p>Simply Wall St's Fair Ratio for Nutrien is 18.20x. This is its view of a suitable P/E once factors like earnings growth, profit margins, industry, market cap and company specific risks are brought together. This company specific Fair Ratio can be more useful than a blunt peer or industry comparison because it adjusts for differences in quality, size and risk profile. With the current P/E of 17.59x sitting a little below the 18.20x Fair Ratio, the shares appear slightly undervalued on this metric.</p> <p><strong>Result: UNDERVALUED</strong></p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTAzLTE0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTAzLTE0"/><figcaption>TSX:NTR P/E Ratio as at Mar 2026</figcaption></figure> <p>P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 3 top founder-led companies.</p> <h3>Upgrade Your Decision Making: Choose your Nutrien Narrative</h3> <p>Earlier we mentioned that there is an even better way to understand valuation. Let us introduce you to Narratives, a simple way for you to spell out your story about Nutrien, connect that story to concrete assumptions for future revenue, earnings and margins, and translate it into a Fair Value that you can compare with the current share price. All of this happens within the Simply Wall St Community page, where millions of investors share views. Each Narrative updates automatically as new news or earnings arrive, so you can see how one Nutrien Narrative might lean towards the more bullish fair value assumptions around CA$112.49, while another anchors closer to the more cautious CA$64.38 view. You can then decide which story feels closer to your own expectations before you act.</p> <p>Do you think there's more to the story for Nutrien? Head over to our Community to see what others are saying!</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/quote-price/query-ZGF0ZT0yMDI2LTAzLTE0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/f919ec91-d38a-4923-913c-742589ed7ea9/chart/quote-price/query-ZGF0ZT0yMDI2LTAzLTE0"/><figcaption>TSX:NTR 1-Year Stock Price Chart</figcaption></figure> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3>Valuation is complex, but we're here to simplify it.</h3><p>Discover if Nutrien might be undervalued or overvalued with our detailed analysis, featuring <strong>fair value estimates, potential risks, dividends, insider trades, and its financial condition.</strong></p><p>Access Free Analysis</p></div></div></div>

VEGI

FTAG

<p>Nutrien's share price closed at C$113.79, reflecting a 62.1% return over the past year. A Discounted Cash Flow (DCF) analysis suggests the stock is undervalued by 15.5%, with an estimated intrinsic value of C$134.68 per share. Additionally, Nutrien's P/E ratio of 17.59x is below the industry average of 22.13x, indicating it is slightly undervalued. Investors are encouraged to consider various narratives and assumptions about future performance to assess the stock's value.</p>

Simplywall

VanEck Agribusiness ETF

Is It Too Late To Consider Nutrien (TSX:NTR) After Its Strong 1-Year Share Price Run?