Nutrien Ltd. (NTR): Business Model Canvas

In der dynamischen Welt der globalen Landwirtschaft erweist sich Nutrien Ltd. (NTR) als transformatives Kraftpaket und revolutioniert die Art und Weise, wie Landwirte mit Pflanzenernährung und nachhaltigen landwirtschaftlichen Praktiken umgehen. Durch die nahtlose Integration modernster Technologien, umfassender Produktangebote und strategischer Partnerschaften hat Nutrien ein anspruchsvolles Geschäftsmodell entwickelt, das den komplexen Herausforderungen der modernen Landwirtschaft gerecht wird. Ihr innovativer Ansatz reicht von Präzisionslandwirtschaftslösungen bis hin zu globalen Vertriebsnetzen und positioniert sie als zentralen Akteur bei der Ernährung der wachsenden Weltbevölkerung, während sie sich gleichzeitig für Umweltschutz und technologischen Fortschritt einsetzen.

Nutrien Ltd. (NTR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit landwirtschaftlichen Einzelhändlern weltweit

Nutrien unterhält strategische Partnerschaften mit über 2.000 Agrareinzelhändlern weltweit, darunter:

Partnertyp	Anzahl der Partnerschaften	Geografische Reichweite
Nordamerikanische Einzelhändler	1,200	Kanada und Vereinigte Staaten
Internationale Einzelhändler	800	Lateinamerika, Europa, Asien

Joint Ventures mit globalen Düngemittel- und Pflanzenernährungsherstellern

Nutrien hat Joint Ventures mit wichtigen Herstellern gegründet:

• Canpotex Limited – Kali-Export-Joint-Venture
• Profertil S.A. – Argentinische Düngemittelproduktionspartnerschaft
• Sinofert Holdings Limited – Zusammenarbeit im chinesischen Düngemittelvertrieb

Technologiepartnerschaften mit Präzisionslandwirtschaftsunternehmen

Technologiepartner	Fokusbereich	Investition
Farmers Business Network	Digitale Landwirtschaftsplattform	250 Millionen Dollar
Planetarisch	Satellitenbildtechnologie	75 Millionen Dollar

Forschungskooperationsvereinbarungen mit Agraruniversitäten

• Universität von Saskatchewan – Pflanzenforschungszentrum
• Iowa State University – Programm für nachhaltige Landwirtschaft
• University of California Davis – Innovation in der Präzisionslandwirtschaft

Lieferkettenpartnerschaften mit Transport- und Logistikanbietern

Logistikpartner	Servicetyp	Jährliches Transportvolumen
Canadian Pacific Railway	Schienengüterverkehr	4,2 Millionen Tonnen
Maersk-Linie	Seefracht	1,8 Millionen Tonnen
J.B. Hunt Transport Services	LKW-Transport	2,5 Millionen Tonnen

Nutrien Ltd. (NTR) – Geschäftsmodell: Hauptaktivitäten

Herstellung von Kali-, Stickstoff- und Phosphatdüngern

Nutrien betreibt 16 Kalibergwerke in Saskatchewan, Kanada, mit einer jährlichen Produktionskapazität von 23 Millionen Tonnen. Zu den Stickstoffproduktionsanlagen des Unternehmens gehören vier große Produktionsstandorte mit einer Jahreskapazität von 6,5 Millionen Tonnen. Die Phosphatproduktion erfolgt in drei Anlagen mit einer Jahreskapazität von 2,3 Millionen Tonnen.

Düngemitteltyp	Produktionsanlagen	Jahreskapazität (Tonnen)
Kali	16	23,000,000
Stickstoff	4	6,500,000
Phosphat	3	2,300,000

Pflanzenernährung und landwirtschaftliche Einzelhandelsdienstleistungen

Nutrien betreibt 2.000 Einzelhandelsstandorte in ganz Nordamerika und beliefert rund 500.000 Landwirte. Das Einzelhandelsnetzwerk bietet:

• Pflanzeneinsatz und Agrarbedarf
• Bodenuntersuchungsdienste
• Agrarberatung
• Empfehlungen zum Pflanzenschutz

Vertrieb und Marketing landwirtschaftlicher Produkte

Das Unternehmen verwaltet ein globales Vertriebsnetz, das sich über 14 Länder erstreckt und im Jahr 2022 einen Jahresumsatz mit Agrarprodukten von 27,4 Milliarden US-Dollar erzielt. Zu den Vertriebskanälen gehören:

• Direkter Bauernverkauf
• Großhandelsvertrieb
• Internationale Exportmärkte

Entwicklung präziser Agrartechnologie

Nutrien investiert jährlich 150 Millionen US-Dollar in digitale Agrartechnologien. Zu den wichtigsten Technologieplattformen gehören:

• Digitale Plattform von Nutrien Ag Solutions
• Fortschrittliche Software für das Pflanzenmanagement
• Satellitenbild- und Pflanzenüberwachungssysteme

Forschung und Umsetzung nachhaltiger Landwirtschaftslösungen

Das Unternehmen hat 500 Millionen US-Dollar für Nachhaltigkeitsinitiativen bereitgestellt, die sich auf Folgendes konzentrieren:

• Programme zur Kohlenstoffbindung
• Emissionsreduzierte Düngemitteltechnologien
• Forschung zur regenerativen Landwirtschaft

Schwerpunktbereich Nachhaltigkeit	Investition
Totale Nachhaltigkeitsinvestition	$500,000,000
CO2-Reduktionsziel	20 % bis 2030

Nutrien Ltd. (NTR) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Mineralreserven und Produktionsanlagen

Nutrien betreibt 20 Kalibergwerke in Saskatchewan, Kanada, mit einer jährlichen Gesamtproduktionskapazität von 23 Millionen Tonnen. Das Unternehmen besitzt vier Stickstoffproduktionsanlagen und sechs Phosphatanlagen in ganz Nordamerika.

Ressourcentyp	Menge	Standort
Kalibergwerke	20	Saskatchewan, Kanada
Stickstoffproduktionsanlagen	4	Nordamerika
Phosphatanlagen	6	Nordamerika

Fortschrittliche Agrartechnologie und digitale Plattformen

Zu den digitalen Plattformen von Nutrien gehören:

• Digitaler Marktplatz von Nutrien
• Integration des Farmers Business Network
• Digitale Lösungen von WinField United

Globales Vertriebs- und Logistiknetzwerk

Nutrien unterhält ein globales Vertriebsnetz mit:

• Über 2.000 Einzelhandelsstandorte weltweit
• Transportinfrastruktur in ganz Nordamerika
• Globale Lieferkette, die über 40 Länder verbindet

Qualifizierte Arbeitskräfte mit landwirtschaftlicher Fachkenntnis

Im Jahr 2023 beschäftigt Nutrien rund 22.500 Mitarbeiter in mehreren Ländern, die über umfangreiche Fachkenntnisse in Agrarwissenschaften und -technologie verfügen.

Starkes Finanzkapital und Investitionsmöglichkeiten

Finanzkennzahl	Wert 2023
Gesamtvermögen	37,8 Milliarden US-Dollar
Jahresumsatz	30,7 Milliarden US-Dollar
Marktkapitalisierung	24,5 Milliarden US-Dollar

Nutrien Ltd. (NTR) – Geschäftsmodell: Wertversprechen

Umfassende landwirtschaftliche Lösungen für Landwirte

Nutrien bietet integrierte landwirtschaftliche Lösungen mit dem folgenden Produktportfolio:

Produktkategorie	Jahresumsatz (2023)	Marktanteil
Pflanzennährstoffe	16,4 Milliarden US-Dollar	20 % Weltmarkt
Pflanzenschutz	3,2 Milliarden US-Dollar	15 % Weltmarkt
Saatgutlösungen	1,8 Milliarden US-Dollar	10 % Weltmarkt

Hochwertige Pflanzenernährungs- und Düngemittelprodukte

Die Produktpalette umfasst:

• Stickstoffdünger: 23,1 Millionen Tonnen Jahresproduktion
• Phosphatdünger: 8,7 Millionen Tonnen Jahresproduktion
• Kalidünger: 22,5 Millionen Tonnen Jahresproduktion

Fortschrittliche Präzisionslandwirtschaftstechnologien

Technologie	Investition (2023)	Benutzer digitaler Plattformen
Digitale Landwirtschaftsplattform	287 Millionen Dollar	Über 500.000 Landwirte
Werkzeuge für die Präzisionslandwirtschaft	132 Millionen Dollar	250.000 aktive Benutzer

Nachhaltige landwirtschaftliche Praktiken und Umweltschutz

Nachhaltigkeitskennzahlen:

• CO2-Reduktionsziel: 30 % bis 2030
• Nachhaltiges Produktportfolio: 42 % des gesamten Produktsortiments
• Wasserschutzinitiativen: 78 Millionen US-Dollar investiert

Integrierte landwirtschaftliche Lieferkettendienste

Service	Jährliches Transaktionsvolumen	Geografische Reichweite
Einzelhandelsvertrieb	14,6 Milliarden US-Dollar	Nordamerika, Australien, Südamerika
Logistiknetzwerk	85 Millionen Tonnen	16 Länder

Nutrien Ltd. (NTR) – Geschäftsmodell: Kundenbeziehungen

Personalisierte landwirtschaftliche Beratungsdienste

Nutrien bietet über sein Netzwerk von über 2.000 Agronomen in ganz Nordamerika direkte landwirtschaftliche Beratungsdienste an. Im Jahr 2023 führte das Unternehmen landwirtschaftliche Beratungen für rund 500.000 Landwirte durch und bot personalisierte Empfehlungen für den Pflanzenbau an.

Servicekategorie	Anzahl der betreuten Landwirte	Beratende Interaktionen
Beratung zur Pflanzenernährung	350,000	1,2 Millionen Interaktionen
Präzisionslandwirtschaft	150,000	480.000 Beratungen

Digitale Plattformen für Produktauswahl und Farmmanagement

Die digitale Plattform von Nutrien, Nutrien Digital Agriculture, bedient ab 2023 über 125.000 aktive Benutzer. Die Plattform bietet Echtzeit-Datenanalyse- und Farmmanagement-Tools.

• Downloads mobiler Apps: 87.000
• Verfolgte Hektar im digitalen Pflanzenbau: 22 Millionen
• Durchschnittliches Benutzerengagement: 45 Minuten pro Woche

Langfristige Kundenbetreuung und -beratung

Nutrien pflegt langfristige Beziehungen durch ein spezielles Account-Management, wobei 85 % der Top-Landwirtschaftskunden Beziehungen haben, die länger als 5 Jahre dauern.

Kundensegment	Durchschnittliche Beziehungsdauer	Jährliche Bindungsrate
Große kommerzielle Farmen	7,2 Jahre	92%
Mittelgroße Bauernhöfe	5,5 Jahre	88%

Schulungs- und Bildungsressourcen für Landwirte

Nutrien führt umfassende Schulungsprogramme für Landwirte durch und bietet im Jahr 2023 12.000 Schulungssitzungen zu den Themen Pflanzenmanagement, Technologieintegration und nachhaltige landwirtschaftliche Praktiken an.

• Online-Webinar-Teilnehmer: 48.000
• Präsenzschulungen: 1.200
• Digitale Trainingsmodule: 76 einzigartige Kurse

Treueprogramme und volumenbasierte Anreize

Das Treueprogramm von Nutrien deckt 68 % seines Kundenstamms ab, wobei volumenbasierte Anreize die Kundenbindung und den Kaufanstieg fördern.

Stufe des Treueprogramms	Kundenabdeckung	Durchschnittlicher jährlicher Anreizwert
Platin-Stufe	12%	$45,000
Goldstufe	26%	$22,500
Silberne Stufe	30%	$11,250

Nutrien Ltd. (NTR) – Geschäftsmodell: Kanäle

Direkte landwirtschaftliche Einzelhandelsgeschäfte

Nutrien betreibt über 2.000 Einzelhandelsstandorte in ganz Nordamerika, mit:

Region	Anzahl der Geschäfte	Jährliches Verkaufsvolumen
Kanada	700	4,2 Milliarden US-Dollar
Vereinigte Staaten	1,300	7,8 Milliarden US-Dollar

Online-E-Commerce-Plattformen

Digitale Nutrien-Plattformen im Jahr 2024:

• Jährlicher Online-Umsatz: 1,5 Milliarden US-Dollar
• Nutzer der digitalen Plattform: 250.000 Landwirte
• Transaktionsabschlussrate: 87 %

Mobile Anwendungen für das Farmmanagement

Die Funktionen der mobilen Anwendung von Nutrien:

App-Funktion	Benutzermetriken
Gesamtzahl der App-Downloads	425,000
Monatlich aktive Benutzer	187,000
Durchschnittliche Sitzungsdauer	14,3 Minuten

Agrarmessen und Ausstellungen

Nutriens Ausstellungsbeteiligung:

• Jährliche Messeveranstaltungen: 42
• Gesamtinvestition in die Ausstellung: 3,6 Millionen US-Dollar
• Lead-Generierung pro Veranstaltung: Durchschnittlich 650 potenzielle Kunden

Tools für digitales Marketing und Kundenbindung

Leistungskennzahlen für digitales Marketing:

Kanal	Reichweite	Engagement-Rate
LinkedIn	185.000 Follower	4.2%
Twitter	95.000 Follower	3.7%
YouTube	65.000 Abonnenten	2.9%

Nutrien Ltd. (NTR) – Geschäftsmodell: Kundensegmente

Großgewerbliche Landwirte

Nutrien beliefert weltweit etwa 500.000 große kommerzielle Landwirtschaftsbetriebe. Diese Kunden machen 65 % des gesamten landwirtschaftlichen Umsatzes des Unternehmens aus, mit einem durchschnittlichen jährlichen Einkaufswert von 1,2 Millionen US-Dollar pro Kunde.

Segmentmerkmale	Statistische Daten
Total Großkunden	500,000
Durchschnittlicher jährlicher Einkaufswert	$1,200,000
Umsatzbeitrag	65%

Kleine bis mittlere landwirtschaftliche Betriebe

Nutrien richtet sich an etwa 1,2 Millionen kleine und mittlere landwirtschaftliche Betriebe, was 25 % ihres Kundenstamms ausmacht.

• Durchschnittlicher jährlicher Kaufwert: 250.000 $
• Geografische Abdeckung: Nordamerika, Südamerika, Australien
• Umsatzbeitrag des Segments: 3,4 Milliarden US-Dollar pro Jahr

Globale landwirtschaftliche Genossenschaften

Nutrien bedient weltweit 2.300 landwirtschaftliche Genossenschaften mit einem Gesamteinkaufsvolumen von 5,6 Milliarden US-Dollar im Jahr 2023.

Einzelheiten zum Genossenschaftssegment	Metriken
Gesamtzahl der betreuten Genossenschaften	2,300
Jährliches Einkaufsvolumen	$5,600,000,000

Aufstrebende Agrarunternehmen in Märkten

Nutrien hat seine Kundensegmente auf 18.000 aufstrebende Agrarunternehmen in 12 Ländern ausgeweitet.

• Wachstumsrate des Kundenstamms in Schwellenländern: 12 % jährlich
• Gesamtinvestition in Schwellenmarktsegmente: 780 Millionen US-Dollar
• Zielländer: Brasilien, Indien, Argentinien, China

Nachhaltige und ökologische Landwirtschaftsunternehmen

Nutrien unterstützt 45.000 nachhaltige und biologische Landwirtschaftsbetriebe mit speziellen Produktlinien und Dienstleistungen.

Segment Nachhaltige Landwirtschaft	Datenpunkte
Total nachhaltige Landwirtschaftskunden	45,000
Spezielle nachhaltige Produktlinien	37
Jahresumsatz aus dem nachhaltigen Segment	$1,200,000,000

Nutrien Ltd. (NTR) – Geschäftsmodell: Kostenstruktur

Kosten für die Beschaffung von Rohstoffen

Im Geschäftsjahr 2022 beliefen sich die Rohstoffbeschaffungskosten von Nutrien für die Kali-, Stickstoff- und Phosphatproduktion auf 4,8 Milliarden US-Dollar. Das Unternehmen bezieht wichtige Rohstoffe von globalen Lieferanten in mehreren Regionen.

Rohstoffkategorie	Jährliche Beschaffungskosten
Kalibeschaffung	1,9 Milliarden US-Dollar
Stickstoffrohstoffe	1,6 Milliarden US-Dollar
Phosphatbeschaffung	1,3 Milliarden US-Dollar

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten von Nutrien beliefen sich im Jahr 2022 auf 5,2 Milliarden US-Dollar und deckten die Produktion in mehreren Anlagen ab.

• Kosten der Kaliproduktion: 2,1 Milliarden US-Dollar
• Kosten der Stickstoffproduktion: 1,8 Milliarden US-Dollar
• Kosten der Phosphatproduktion: 1,3 Milliarden US-Dollar

Forschungs- und Entwicklungsinvestitionen

Nutrien stellte im Jahr 2022 312 Millionen US-Dollar für Forschung und Entwicklung bereit und konzentrierte sich dabei auf Agrartechnologie und nachhaltige Landwirtschaftslösungen.

Vertriebs- und Logistikausgaben

Die gesamten Vertriebs- und Logistikkosten beliefen sich im Jahr 2022 auf 1,5 Milliarden US-Dollar, einschließlich Transport, Lagerverwaltung und globaler Lieferkettenabläufe.

Logistikkostenkategorie	Jährliche Kosten
Transport	875 Millionen Dollar
Lagerhaltung	425 Millionen Dollar
Globales Supply Chain Management	200 Millionen Dollar

Betriebskosten für Marketing und Vertrieb

Die Marketing- und Vertriebsausgaben für Nutrien beliefen sich im Jahr 2022 auf insgesamt 687 Millionen US-Dollar und deckten globale Agrarmarktstrategien und Kundenbindung ab.

• Investitionen in digitales Marketing: 142 Millionen US-Dollar
• Sales Force Operations: 365 Millionen US-Dollar
• Kundenbeziehungsmanagement: 180 Millionen US-Dollar

Nutrien Ltd. (NTR) – Geschäftsmodell: Einnahmequellen

Verkauf von Düngemitteln

Gesamterlös aus dem Düngemittelverkauf für 2022: 13,5 Milliarden US-Dollar

Düngemittelsegment	Umsatz (2022)
Kali	4,2 Milliarden US-Dollar
Stickstoff	3,8 Milliarden US-Dollar
Phosphat	2,5 Milliarden US-Dollar

Lösungen für die Pflanzenernährung

Jährlicher Umsatz mit Pflanzenernährungslösungen: 5,7 Milliarden US-Dollar

• Lösungen für die Präzisionslandwirtschaft: 780 Millionen US-Dollar
• Individuelle Düngemittelmischung: 1,2 Milliarden US-Dollar
• Pflanzenschutzmittel: 1,6 Milliarden US-Dollar

Agrareinzelhandelsdienstleistungen

Gesamtumsatz mit Einzelhandelsdienstleistungen im Jahr 2022: 7,3 Milliarden US-Dollar

Kategorie Einzelhandelsdienstleistungen	Einnahmen
Verkauf von Agrarbedarf	4,5 Milliarden US-Dollar
Saatgut- und Pflanzenschutz	2,1 Milliarden US-Dollar
Verkauf von Geräten	700 Millionen Dollar

Abonnements für Technologie und digitale Plattformen

Einnahmen aus der digitalen Plattform: 245 Millionen US-Dollar

• Abonnements für die digitale Farmer-Plattform: 120 Millionen US-Dollar
• Agrardatendienste: 85 Millionen US-Dollar
• Präzisionslandwirtschaftssoftware: 40 Millionen US-Dollar

Gebühren für Beratung und Beratung

Gesamter Beratungsumsatz: 312 Millionen US-Dollar

Beratungsdiensttyp	Einnahmen
Beratung im Pflanzenbau	165 Millionen Dollar
Beratung zur Bodengesundheit	87 Millionen Dollar
Dienstleistungen zur Technologieimplementierung	60 Millionen Dollar

Nutrien Ltd. (NTR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why growers and the global market choose Nutrien Ltd. for their essential inputs, and the numbers back up the scale of that commitment.

Integrated supply chain: Producer-to-farmer model for efficiency and reliability.

Nutrien Ltd. operates as the world's largest soft rock miner and potash producer, which means the control over the product starts right at the source. This integration is visible in the operational scale; for instance, the company has 6 low-cost potash mines located in Saskatchewan. To move this product, the network includes approximately 5,800 owned or leased railcars in its North American transportation and distribution system. This producer-to-farmer pipeline supports the Retail segment, which is a major value delivery point; the guidance for Retail adjusted EBITDA for the full year 2025 is set between $1.65 billion and $1.85 billion.

The efficiency of this model is reflected in the segment performance data. For the first nine months of 2025, the Retail segment contributed an adjusted EBITDA of $1,425 million. The company's focus on high-value investments, like proprietary products, is key here, as the proprietary products gross margin for Q3 2025 rose to $268 million.

Metric	Value (2025 Data)	Source Context
Potash Sales Volume Guidance (2025)	14.0 - 14.5 million tonnes	Company's updated annual operational guidance
Retail Adjusted EBITDA Guidance (2025)	$1.65 - $1.85 billion	Full-year financial outlook
Q3 2025 Potash Adjusted EBITDA	$733 million	Quarterly financial performance
North American Railcars Owned/Leased	~5,800	Key component of the distribution network

Global supply security: Ramping up potash capacity to stabilize global markets.

Nutrien Ltd.'s scale is a direct value proposition for global supply stability, especially given market disruptions. The company had previously announced plans to ramp up its annual potash production capacity to 18 million tonnes per year by 2025. While the 2025 sales volume guidance is set between 13.9 and 14.5 million tonnes, the company is also maintaining its global shipment forecast for 2025 at 73 million to 75 million tonnes. This commitment to high-volume output helps anchor global availability. For context on pricing power derived from this supply position, the average net selling price for potash in Q3 2025 reached $277 per tonne.

Agronomic expertise: Local advice and digital tools for maximizing crop yield.

The value extends beyond just moving tons of fertilizer; it's about applying it right. This is where the Retail segment's focus on grower solutions comes in. The company supports this with programs like the Carbon Program, which has already seen strong adoption, exceeding its initial targets with more than 200,000 pilot acres across Canada and the US. This demonstrates the real-world application of their science and technology advice. The focus on proprietary products within the Retail segment is also a key differentiator for yield maximization.

Here are some key metrics showing the segment's financial contribution tied to these services:

• Proprietary products gross margin in Q3 2025 was $268 million.
• Crop nutrients gross margin per tonne saw a 7% improvement in Q3 2025 year-over-year.
• The company achieved a 98% ammonia operating rate in Q1 2025, showing production reliability that feeds the advice chain.

Sustainable solutions: Advancing clean ammonia and environmental stewardship.

Nutrien Ltd. is positioning itself as a leader in decarbonization, which is a critical value proposition for future-focused agriculture and industry. The company is the third-largest ammonia producer globally, with existing low-carbon capability around 1 million tonnes. A major step is the planned clean ammonia facility in Geismar, Louisiana, which is a roughly US$2 billion project. This plant is designed to produce 1.2 million metric tonnes of low-carbon ammonia annually, utilizing technology aimed at achieving a minimum 90% reduction in Carbon Dioxide emissions. Furthermore, the company has a commitment to reduce its Scope 1 and 2 GHG emissions intensity by 30% by 2030 as part of its Feeding the Future Plan.

Financial services: Nutrien Financial offerings to help growers manage working capital.

To help growers manage the capital needed for high-input farming, Nutrien Financial provides tailored credit. Their model emphasizes fixed payment structures, low rates, and flexible cash management. The company's overall financial backing is substantial; as of June 30, 2025, Nutrien utilized $1,934 million of its total $4,500 million unsecured revolving term credit facility. The performance of the financing arm is closely watched, with metrics like the Retail Cash Operating Coverage Ratio used by rating agencies to evaluate its financial health. For example, the Retail segment's proprietary products gross margin in Q1 2025 was $153 million, which is directly supported by these financing options.

You can see the scale of the financing support through these figures:

• The company is exploring ways to simplify its portfolio to enhance free cash flow, which supports the capital available for grower financing.
• Early Season Seed Financing offers rates as low as 1% to 1.9% APR.
• The portfolio of receivables is monitored and serviced by Nutrien Financial across rolling quarters, such as the four quarters ended March 31, 2025.

Finance: draft 13-week cash view by Friday.

Nutrien Ltd. (NTR) - Canvas Business Model: Customer Relationships

You're looking at how Nutrien Ltd. (NTR) keeps its massive customer base engaged and buying, especially when markets are swinging around. It's a mix of boots-on-the-ground expertise and digital tools.

The foundation of their relationship strategy rests on their sheer scale in the field. Nutrien Ltd.'s retail network supports over 600,000 customer accounts worldwide. This scale allows for dedicated, high-touch service through local retail agronomists and sales staff who are right there with the growers.

Also, the digital side is clearly a focus area, with capital expenditures including investment earmarked for digital capabilities in Retail. While specific 2025 adoption rates aren't given, the company is noted as gaining from the growing adoption of its digital platform. Historically, the Nutrien online digital portal saw more than $1 billion in sales in the first three quarters of 2020, showing a proven track record for digital self-service and data-driven recommendations.

For the big international moves, strategic relationships are key. The settlement of contracts with major offshore customers, specifically mentioning India and China in June, supported demand expectations for the second half of 2025. This is reflected in the reported higher offshore sales volumes in the third quarter and first nine months of 2025, which contributed to Potash adjusted EBITDA increasing to $1.8 billion in the first nine months of 2025.

Financial support is a direct relationship builder. Nutrien Financial offers customized financial services, including special promotional offers like early-season seed financing ranging from 1% to 1.9% APR. This pairing of agronomic and financial expertise helps growers manage cash flow objectives throughout the cycle.

Building trust means showing up with product when needed, which is where operational reliability comes in. The company delivered structural earnings growth in the first nine months of 2025 through record upstream fertilizer sales volumes and improved reliability. You can see this commitment in the performance metrics:

Metric	Value (First Nine Months 2025)	Context
Retail Adjusted EBITDA	$1.4 billion	Driven by cost savings and higher proprietary product margins
Potash Sales Volume Guidance (2025 Full Year)	14.0-14.5 million tonnes	Raised guidance due to strong demand
Record Ammonia Operating Rate	94 percent	Achieved through improved reliability at sites

The focus on operational excellence helps Nutrien Ltd. be a defintely reliable supplier even when markets are volatile. They are using their world-class asset base to efficiently supply customers with the products they need.

Here are some of the key relationship touchpoints:

• Supporting over 600,000 customer accounts.
• Retail adjusted EBITDA reached $1.4 billion in the first nine months of 2025.
• Financing offers as low as 1% APR for seed products.
• Potash sales volume guidance increased to 14.0-14.5 million tonnes for 2025.
• Investments in digital capabilities for the Retail segment.

Finance: draft 13-week cash view by Friday.

Nutrien Ltd. (NTR) - Canvas Business Model: Channels

The distribution of Nutrien Ltd.'s crop inputs and services relies on a vast, multi-faceted physical and digital network designed to reach growers globally.

Global Retail Network: Nutrien Ag Solutions® provides full-acre solutions through a network of trusted crop consultants at more than 1,700 global locations. This network spans North America, South America, and Australia. As of late October 2025, the United States segment alone accounted for 1,016 Nutrien Ag Solutions locations, with Illinois having the highest concentration at 113 locations. In Canada, there were 293 locations as of the same date, with Saskatchewan hosting 142 of those. This physical footprint is a core channel for product delivery and service consultation.

Geographic Area	Number of Locations (as of late 2025)	Top Province/State Concentration	Concentration Count
Global Retail Network	More than 1,700	N/A	N/A
United States	1,016	Illinois	113
Canada	293	Saskatchewan	142

Canpotex: The exclusive offshore export channel for potash operates at a massive scale, with Nutrien Ltd. maintaining its 2025 full-year global potash shipment forecast between 73 to 75 million tonnes as of the third quarter of 2025. This scale is expected to grow, with a forecast of 74 to 77 million tonnes for 2026.

Wholesale distribution to industrial customers and other fertilizer blenders: While the retail segment is highly visible, the wholesale channel supports the upstream production. The Retail segment generated an adjusted EBITDA of $1.4 billion in the first nine months of 2025, reflecting the overall strength and reach of the downstream distribution system, which includes wholesale activities.

Digital platforms and mobile apps for e-commerce and agronomic data: Nutrien Ltd. is actively investing in this channel. Capital expenditures in the first quarter of 2025 included approximately $400 to $500 million focused on proprietary products, network optimization, and digital capabilities in Retail.

Extensive rail, port, and warehouse infrastructure for product movement: The physical logistics backbone is undergoing significant strategic shifts. Nutrien Ltd. announced plans to invest US$1 billion to build a new export terminal in Longview, Washington, with finalization expected in 2027. This move is a direct response to issues like supply chain congestion and infrastructure problems cited at the Port of Vancouver.

You can see the scale of the retail operation through these numbers:

• 1,016 Nutrien Ag Solutions locations in the US as of October 29, 2025.
• 293 Nutrien Ag Solutions locations in Canada as of October 29, 2025.
• Illinois accounts for about 11% of the total US locations.
• Saskatchewan accounts for about 48% of the total Canadian locations.

Nutrien Ltd. (NTR) - Canvas Business Model: Customer Segments

You're looking at the core groups Nutrien Ltd. (NTR) serves to generate its revenue, which was reported at $26.624B for the twelve months ending September 30, 2025.

The company's retail network supports over 600,000 customer accounts worldwide. The overall business serves agricultural, industrial, and feed customers.

North American Farmers/Growers: Core retail customer base.

This segment experienced strong application activity and higher sales of crop nutrient and crop protection products in 2025. For context on the underlying demand drivers, US corn planted area was expected to reach approximately 95 million acres in 2025. For the first nine months of 2025, North American sales were reported at $1.449 billion. Retail adjusted EBITDA guidance for the full year 2025 was set between $1.68 billion and $1.82 billion.

International Farmers/Growers: Served by retail in Australia and South America.

Retail performance in these regions showed mixed results through 2025. In Australia, dry weather impacted crop input sales in the first half of the year. In South America, the first half of 2025 sales were impacted by strategic actions related to a margin improvement plan. Retail adjusted EBITDA for the first half of 2025 was $1.2 billion.

Offshore Commodity Buyers: Governments and large distributors in Asia and Brazil.

This group drives significant upstream sales, particularly for potash. Offshore sales for the first nine months of 2025 rose to $1.75 billion, up from $1.316 billion the prior year. The company increased its 2025 global potash shipment forecast to a range of 73 to 75 million tonnes. Potash sales volume guidance was specifically raised to a range of 14.0-14.5 million tonnes.

Here's a look at the geographic sales distribution for 2024, which informs the current customer base focus:

Geography	2024 Sales Percentage
United States	61%
Australia	14%
Canada	11%
Brazil	Included in Other South America
Other South America	11%

The 2024 geographical breakdown of revenue shows the United States as the dominant market.

Industrial Users: Buyers of nitrogen products like ammonia and urea.

This segment benefits from a rebound in industrial nitrogen use. The company achieved a record ammonia operating rate of 94% through the first nine months of 2025, signaling strong production to meet industrial demand. Nitrogen adjusted EBITDA reached $1.6 billion in the first nine months of 2025.

Emerging Energy Markets: Future buyers of clean ammonia and hydrogen.

While specific 2025 financial figures tied directly to clean energy sales aren't explicitly detailed, the company's focus on operational reliability and efficiency is key to future positioning. The company generated year-to-date adjusted EBITDA of $4.8 billion in the first nine months of 2025.

You should track the strategic review of the Phosphate business, as this could alter the industrial/commodity mix going forward.

Nutrien Ltd. (NTR) - Canvas Business Model: Cost Structure

When you look at Nutrien Ltd.'s cost base, you see a company heavily invested in physical assets, which drives significant fixed costs, balanced by major commodity-linked variable expenses.

High fixed costs from mining and manufacturing assets (Potash, Nitrogen).

The sheer scale of the production facilities means a large portion of costs don't change much, regardless of immediate sales volume. As of the end of fiscal year 2024, the Property, Plant, and Equipment on the balance sheet stood at $22.60B. This asset base underpins the fixed cost structure inherent in mining and large-scale chemical processing.

Significant variable costs for natural gas, a key input for nitrogen production.

Natural gas is a massive lever in the Nitrogen segment's cost of goods sold. For instance, in the first nine months of 2025, the Cost of Goods Sold per tonne for Manufactured Product was $220. The company noted that Cost of goods sold per tonne increased in the first nine months of 2025 due to higher natural gas costs, driven by a higher Henry Hub benchmark. To put that sensitivity in perspective, a $1 change in gas prices can swing the input cost for nitrogen production by $30 - $35 per tonne. The benchmark gas price had risen from $2.35/MMbtu to $3.93/MMbtu since the prior year.

Capital expenditures for 2025 expected between $2.0 and $2.1 billion.

Nutrien Ltd. has been disciplined with its spending. The total capital expenditures guidance for the full year 2025 is expected to be between $2.0 and $2.1 billion. This spending is targeted, with approximately $400 to $500 million allocated for investing capital expenditures.

Logistics and distribution costs (freight, rail, port operations).

While specific logistics costs aren't broken out separately in the high-level results, the scale of movement is evident in the production volumes. For example, Potash sales volumes guidance for 2025 was raised to 14-14.5 million tons. Moving that volume requires significant outlay for freight, rail, and port access, which is embedded within the overall cost structure.

Operating expenses for the vast global retail network.

The Retail segment has a substantial operating cost base, though the company is actively working to reduce it. Operating expenses for Nutrien Ltd. for the twelve months ending September 30, 2025, totaled $23.412B. The Retail segment specifically benefited from cost control, as Retail adjusted EBITDA increased in the first nine months of 2025 due to lower operating expenses from cost savings initiatives. Nutrien anticipates achieving around $200 million of total savings in 2025, and they are ahead of schedule on this goal.

Here's a quick look at some key financial figures relevant to the cost base as of the nine months ended September 30, 2025, or the latest available full-year 2024 data:

Cost Component/Metric	Value (9M 2025 or Latest)	Context/Period
Total Operating Expenses	$23.412B	Twelve Months Ended September 30, 2025
Total Capital Expenditures Guidance	$2.0 to $2.1 billion	Full Year 2025 Guidance
Investing CapEx Allocation	$400 to $500 million	Within 2025 CapEx, focused on growth/optimization
Property, Plant, and Equipment (Fixed Assets Proxy)	$22.60B	As of December 31, 2024
Estimated Total Cost Savings Target	$200 million	Anticipated for Full Year 2025
Nitrogen COGS per Tonne	$220	Nine Months Ended September 30, 2025

You should definitely track the relationship between the fixed asset base and the depreciation/amortization line item, which for Nitrogen alone was $56 million per quarter in the third quarter of 2025. That's a clear fixed overhead you have to cover.

The Retail segment is showing cost discipline, with lower operating expenses contributing to higher adjusted EBITDA in the first nine months of 2025, reaching $1.4 billion. Finance: draft 13-week cash view by Friday.

Nutrien Ltd. (NTR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Nutrien Ltd. brings in cash, which is heavily weighted toward the three primary crop nutrients they produce and the massive retail network they operate. Honestly, the structure shows a clear split between upstream production and downstream distribution.

The revenue streams are segmented by product and service, with the upstream fertilizer segments-Potash and Nitrogen-driving significant earnings, while the Retail segment provides a broad, diversified base.

Here's a breakdown of the key components driving Nutrien Ltd.'s revenue as of late 2025:

• - Sales of Potash: Driven by high volumes and offshore demand, this segment delivered an Adjusted EBITDA of $1.8 billion for the first nine months of 2025.
• - Sales of Nitrogen: This includes ammonia, urea, and solutions, contributing an Adjusted EBITDA of $1.6 billion for the first nine months of 2025.
• - Retail Sales: Covering crop nutrients, crop protection, seed, and services, the 2025 Adjusted EBITDA guidance is set between $1.68 to $1.82 billion.
• - Sales of Phosphate: This division is currently under a strategic review for potential divestiture, with a final decision on its path expected in 2026.
• - Financial and service fees from Nutrien Financial and agronomic services: These internal charges, such as interest and service fees charged by Nutrien Financial to Retail branches, are eliminated for consolidated reporting purposes.

The upstream performance in the first nine months of 2025 was particularly strong, showing how critical global fertilizer dynamics are to Nutrien Ltd.'s bottom line. Offshore demand is definitely taking the lead here.

Revenue Stream Component	Period/Status	Financial Metric/Value
Potash Adjusted EBITDA	First Nine Months 2025	$1.8 billion
Nitrogen Adjusted EBITDA	First Nine Months 2025	$1.6 billion
Retail Adjusted EBITDA	2025 Guidance Range	$1.68 to $1.82 billion
Retail Adjusted EBITDA	First Nine Months 2025	$1.4 billion
Phosphate Segment Reported Value	Reported (2024 context)	Approximately $2.4 billion

Looking closer at the Potash segment for the first nine months of 2025, the shift in sales focus is clear. Offshore sales climbed to $1.75 billion, while North American sales were relatively flat at $1.449 billion. That means international movement now forms the majority of the potash total sales.

For the Retail segment, the third quarter of 2025 showed a strong rebound in segment profitability, with Adjusted EBITDA reaching $230 million, marking a 52% year-over-year increase. This growth was supported by lower operating expenses and higher gross margins on proprietary products.

The Phosphate business, despite being under review, still contributed revenue, with net sales in the third quarter of 2025 rising 20 per cent to US$495 million. For that same quarter, the segment generated $122 million in EBITDA.

The structure also includes internal financial mechanisms. For instance, the reported segment earnings exclude the elimination of interest and service fees charged by Nutrien Financial to the Retail branches, which is a key accounting detail to note when analyzing segment performance.

• Potash Q3 2025 Adjusted EBITDA: $733 million.
• Nitrogen Q3 2025 Adjusted EBITDA: $556 million.
• Retail Q3 2025 Adjusted EBITDA: $230 million.
• Phosphate Q3 YTD 2025 EBITDA: $275 million.

Finance: draft 13-week cash view by Friday.