Nutrien Ltd. (NTR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da agricultura global, a Nutrien Ltd. (NTR) surge como uma potência transformadora, revolucionando como os agricultores abordam a nutrição das culturas e as práticas agrícolas sustentáveis. Ao integrar perfeitamente tecnologias de ponta, ofertas abrangentes de produtos e parcerias estratégicas, a Nutrien criou um modelo de negócios sofisticado que aborda os complexos desafios da agricultura moderna. Sua abordagem inovadora abrange as soluções de agricultura de precisão às redes de distribuição global, posicionando -as como um participante fundamental na alimentação da crescente população do mundo enquanto defende a administração ambiental e o avanço tecnológico.

Nutrien Ltd. (NTR) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com varejistas agrícolas em todo o mundo

Nutrien mantém parcerias estratégicas com mais de 2.000 varejistas agrícolas em todo o mundo, incluindo:

Tipo de parceiro	Número de parcerias	Alcance geográfico
Varejistas norte -americanos	1,200	Canadá e Estados Unidos
Varejistas internacionais	800	América Latina, Europa, Ásia

Joint ventures com fabricantes globais de fertilizantes e nutrição de culturas

A Nutrien estabeleceu joint ventures com os principais fabricantes:

• CANPOTEX LIMITED - Venture de exportação de potássio
• Profetil S.A. - Parceria de produção de fertilizantes argentinos
• Sinofert Holdings Limited - Colaboração de distribuição de fertilizantes chineses

Parcerias de tecnologia com empresas de agricultura de precisão

Parceiro de tecnologia	Área de foco	Investimento
Rede de negócios de agricultores	Plataforma de agricultura digital	US $ 250 milhões
Planetário	Tecnologia de imagem por satélite	US $ 75 milhões

Acordos de pesquisa colaborativa com universidades agrícolas

• Universidade de Saskatchewan - Centro de Pesquisa de Culturas
• Universidade Estadual de Iowa - Programa de Agricultura Sustentável
• Universidade da Califórnia Davis - Inovação da Agricultura de Precisão

Parcerias da cadeia de suprimentos com provedores de transporte e logística

Parceiro de logística	Tipo de serviço	Volume anual de transporte
Ferrovia Canadense do Pacífico	Frete ferroviário	4,2 milhões de toneladas métricas
Linha Maersk	Frete oceano	1,8 milhão de toneladas métricas
J.B. Hunt Transport Services	Transporte de caminhão	2,5 milhões de toneladas métricas

Nutrien Ltd. (NTR) - Modelo de negócios: Atividades -chave

Produção de fertilizantes de potássio, nitrogênio e fosfato

A Nutrien opera 16 minas de potássio em Saskatchewan, Canadá, com uma capacidade de produção anual de 23 milhões de toneladas. As instalações de produção de nitrogênio da empresa incluem 4 principais locais de fabricação com capacidade anual de 6,5 milhões de toneladas. A produção de fosfato ocorre em 3 instalações com uma capacidade anual de 2,3 milhões de toneladas.

Tipo de fertilizante	Instalações de produção	Capacidade anual (toneladas)
Potassa	16	23,000,000
Azoto	4	6,500,000
Fosfato	3	2,300,000

Serviços de nutrição e varejo agrícola de culturas

A Nutrien opera 2.000 locais de varejo na América do Norte, atendendo a aproximadamente 500.000 agricultores. A rede de varejo fornece:

• Insumos de colheita e suprimentos agrícolas
• Serviços de teste de solo
• Consultoria agronômica
• Recomendações de proteção contra culturas

Distribuição e marketing de produtos agrícolas

A empresa gerencia uma rede de distribuição global que abrange 14 países, com vendas anuais de produtos agrícolas de US $ 27,4 bilhões em 2022. Os canais de distribuição incluem:

• Vendas diretas de agricultores
• Distribuição por atacado
• Mercados de exportação internacionais

Desenvolvimento de tecnologia agrícola de precisão

A Nutrien investe US $ 150 milhões anualmente em tecnologias de agricultura digital. As principais plataformas de tecnologia incluem:

• Nutrien AG Solutions Digital Platform
• Software avançado de gerenciamento de culturas
• Sistemas de imagens de satélite e monitoramento de culturas

Pesquisa e implementação de soluções agrícolas sustentáveis

A empresa comprometeu US $ 500 milhões a iniciativas de sustentabilidade, com foco em:

• Programas de seqüestro de carbono
• Tecnologias de fertilizantes em emissão reduzida
• Pesquisa em agricultura regenerativa

Área de foco em sustentabilidade	Investimento
Investimento total de sustentabilidade	$500,000,000
Alvo de redução de carbono	20% até 2030

Nutrien Ltd. (NTR) - Modelo de negócios: Recursos -chave

Extensas reservas minerais e instalações de produção

A Nutrien opera 20 minas de potássio em Saskatchewan, Canadá, com uma capacidade total de produção anual de 23 milhões de toneladas. A empresa possui 4 instalações de produção de nitrogênio e 6 instalações de fosfato em toda a América do Norte.

Tipo de recurso	Quantidade	Localização
Minas de potássio	20	Saskatchewan, Canadá
Instalações de produção de nitrogênio	4	América do Norte
Instalações de fosfato	6	América do Norte

Tecnologia agrícola avançada e plataformas digitais

As plataformas digitais da Nutrien incluem:

• Nutrien Digital Marketplace
• Integração de redes de negócios de agricultores
• Winfield United Digital Solutions

Rede Global de Distribuição e Logística

Nutrien mantém uma rede de distribuição global com:

• Mais de 2.000 locais de varejo em todo o mundo
• Infraestrutura de transporte em toda a América do Norte
• Cadeia de suprimentos global conectando mais de 40 países

Força de trabalho qualificada com experiência agrícola

A partir de 2023, a Nutrien emprega aproximadamente 22.500 trabalhadores em vários países, com experiência significativa em ciências agrícolas e tecnologia.

Fortes capital financeiro e capacidades de investimento

Métrica financeira	2023 valor
Total de ativos	US $ 37,8 bilhões
Receita anual	US $ 30,7 bilhões
Capitalização de mercado	US $ 24,5 bilhões

Nutrien Ltd. (NTR) - Modelo de Negócios: Proposições de Valor

Soluções agrícolas abrangentes para agricultores

Nutrien fornece soluções agrícolas integradas com o seguinte portfólio de produtos:

Categoria de produto	Receita anual (2023)	Quota de mercado
Nutrientes da colheita	US $ 16,4 bilhões	20% de mercado global
Proteção contra culturas	US $ 3,2 bilhões	15% de mercado global
Soluções de sementes	US $ 1,8 bilhão	10% de mercado global

Produtos de nutrição de culturas e fertilizantes de alta qualidade

A gama de produtos inclui:

• Fertilizantes nitrogenados: 23,1 milhões de toneladas de produção anual de toneladas
• Fertilizantes de fosfato: 8,7 milhões de toneladas métricas de produção anual
• Fertilizantes de potássio: 22,5 milhões de toneladas de produção anual

Tecnologias de agricultura de precisão avançada

Tecnologia	Investimento (2023)	Usuários da plataforma digital
Plataforma de agricultura digital	US $ 287 milhões	500.000 mais agricultores
Ferramentas agrícolas de precisão	US $ 132 milhões	250.000 usuários ativos

Práticas agrícolas sustentáveis ​​e mordomia ambiental

Métricas de sustentabilidade:

• Alvo de redução de carbono: 30% até 2030
• Portfólio de produtos sustentáveis: 42% da linha total de produtos
• Iniciativas de conservação de água: US $ 78 milhões investidos

Serviços integrados da cadeia de suprimentos agrícolas

Serviço	Volume anual de transações	Alcance geográfico
Distribuição de varejo	US $ 14,6 bilhões	América do Norte, Austrália, América do Sul
Rede de logística	85 milhões de toneladas métricas	16 países

Nutrien Ltd. (NTR) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de Consultoria Agrícola Personalizada

A Nutrien fornece serviços de consultoria agrícola direta por meio de sua rede de mais de 2.000 agronistas em toda a América do Norte. Em 2023, a empresa gerenciava consultas agrícolas para aproximadamente 500.000 agricultores, oferecendo recomendações personalizadas de gerenciamento de culturas.

Categoria de serviço	Número de agricultores servidos	Interações consultivas
Consultoria em nutrição de culturas	350,000	1,2 milhão de interações
Agricultura de precisão	150,000	480.000 consultas

Plataformas digitais para seleção de produtos e gerenciamento agrícola

A plataforma digital da Nutrien, Nutrien Digital Agriculture, atende mais de 125.000 usuários ativos a partir de 2023. A plataforma fornece análises de dados em tempo real e ferramentas de gerenciamento agrícola.

• Downloads de aplicativos móveis: 87.000
• Acres de gerenciamento de culturas digitais rastreadas: 22 milhões
• Engajamento médio do usuário: 45 minutos por semana

Suporte e consulta ao cliente de longo prazo

A Nutrien mantém relacionamentos de longo prazo por meio de gerenciamento de contas dedicado, com 85% dos clientes agrícolas de primeira linha tendo relacionamentos superiores a 5 anos.

Segmento de clientes	Duração média do relacionamento	Taxa de retenção anual
Grandes fazendas comerciais	7,2 anos	92%
Fazendas de médio porte	5,5 anos	88%

Recursos de treinamento e educação para os agricultores

A Nutrien conduz programas abrangentes de treinamento de agricultores, oferecendo 12.000 sessões educacionais em 2023, cobrindo o gerenciamento de culturas, a integração de tecnologia e as práticas agrícolas sustentáveis.

• Participantes on -line de webinar: 48.000
• Eventos de treinamento pessoal: 1.200
• Módulos de treinamento digital: 76 cursos exclusivos

Programas de fidelidade e incentivos baseados em volume

O programa de fidelidade da Nutrien cobre 68% de sua base de clientes, com incentivos baseados em volume impulsionando a retenção de clientes e o aumento da compra.

Nível do Programa de Fidelidade	Cobertura do cliente	Valor médio de incentivo anual
Nível de platina	12%	$45,000
Nível de ouro	26%	$22,500
Camada de prata	30%	$11,250

Nutrien Ltd. (NTR) - Modelo de Negócios: Canais

Lojas de varejo agrícolas diretas

A Nutrien opera mais de 2.000 locais de varejo em toda a América do Norte, com:

Região	Número de lojas	Volume anual de vendas
Canadá	700	US $ 4,2 bilhões
Estados Unidos	1,300	US $ 7,8 bilhões

Plataformas online de comércio eletrônico

Nutrien Digital Platforms em 2024:

• Vendas on -line anuais: US $ 1,5 bilhão
• Usuários da plataforma digital: 250.000 agricultores
• Taxa de conclusão da transação: 87%

Aplicativos móveis para gerenciamento agrícola

Recursos de aplicativos móveis da Nutrien:

Recurso do aplicativo	Métricas de usuário
Downloads de aplicativos totais	425,000
Usuários ativos mensais	187,000
Duração média da sessão	14,3 minutos

Feiras agrícolas e exposições

Participação da exposição de Nutrien:

• Eventos anuais de feira de comércio: 42
• Investimento total da exposição: US $ 3,6 milhões
• Geração de leads por evento: média 650 clientes em potencial

Ferramentas de marketing digital e de engajamento do cliente

Métricas de desempenho de marketing digital:

Canal	Alcançar	Taxa de engajamento
LinkedIn	185.000 seguidores	4.2%
Twitter	95.000 seguidores	3.7%
YouTube	65.000 assinantes	2.9%

Nutrien Ltd. (NTR) - Modelo de negócios: segmentos de clientes

Agricultores comerciais em larga escala

A Nutrien atende a aproximadamente 500.000 operações agrícolas comerciais em larga escala globalmente. Esses clientes representam 65% da receita agrícola total da empresa, com um valor médio de compra anual de US $ 1,2 milhão por cliente.

Características do segmento	Dados estatísticos
Clientes totais em larga escala	500,000
Valor médio de compra anual	$1,200,000
Contribuição da receita	65%

Operações agrícolas pequenas a médias

A Nutrien tem como alvo aproximadamente 1,2 milhão de operações agrícolas pequenas e médias, representando 25% de sua base de clientes.

• Valor médio de compra anual: US $ 250.000
• Cobertura geográfica: América do Norte, América do Sul, Austrália
• Contribuição da receita do segmento: US $ 3,4 bilhões anualmente

Cooperativas Agrícolas Globais

A Nutrien atende 2.300 cooperativas agrícolas em todo o mundo, com um volume total de compra de US $ 5,6 bilhões em 2023.

Detalhes do segmento cooperativo	Métricas
Cooperativas totais serviram	2,300
Volume anual de compra	$5,600,000,000

Empresas agrícolas emergentes do mercado

A Nutrien expandiu seus segmentos de clientes para incluir 18.000 empresas agrícolas emergentes do mercado em 12 países.

• Taxa de crescimento da base de clientes emergentes do mercado: 12% anualmente
• Investimento total em segmentos de mercado emergentes: US $ 780 milhões
• Países -alvo: Brasil, Índia, Argentina, China

Empresas agrícolas sustentáveis ​​e orgânicas

A Nutrien suporta 45.000 empresas agrícolas sustentáveis ​​e orgânicas, com linhas e serviços de produtos dedicados.

Segmento agrícola sustentável	Pontos de dados
Total de clientes agrícolas sustentáveis	45,000
Linhas de produtos sustentáveis ​​dedicados	37
Receita anual de segmento sustentável	$1,200,000,000

Nutrien Ltd. (NTR) - Modelo de negócios: estrutura de custos

Despesas de aquisição de matéria -prima

No ano fiscal de 2022, as despesas de aquisição de matéria -prima da Nutrien para a produção de potássio, nitrogênio e fosfato foram de US $ 4,8 bilhões. A empresa obtém as principais matérias -primas de fornecedores globais em várias regiões.

Categoria de matéria -prima	Custo anual de compras
Compras de potássio	US $ 1,9 bilhão
Matérias -primas de nitrogênio	US $ 1,6 bilhão
Fornecimento de fosfato	US $ 1,3 bilhão

Custos de fabricação e produção

As despesas totais de fabricação da Nutrien em 2022 atingiram US $ 5,2 bilhões, cobrindo a produção em várias instalações.

• Custos de produção de potássio: US $ 2,1 bilhões
• Custos de produção de nitrogênio: US $ 1,8 bilhão
• Custos de produção de fosfato: US $ 1,3 bilhão

Investimentos de pesquisa e desenvolvimento

Nutrien alocou US $ 312 milhões para pesquisa e desenvolvimento em 2022, com foco em tecnologia agrícola e soluções agrícolas sustentáveis.

Despesas de distribuição e logística

Os custos totais de distribuição e logística para 2022 foram de US $ 1,5 bilhão, incluindo transporte, gerenciamento de armazém e operações globais da cadeia de suprimentos.

Categoria de despesa de logística	Custo anual
Transporte	US $ 875 milhões
Armazenamento	US $ 425 milhões
Gerenciamento global da cadeia de suprimentos	US $ 200 milhões

Custos operacionais de marketing e vendas

As despesas de marketing e vendas da Nutrien totalizaram US $ 687 milhões em 2022, cobrindo estratégias globais de mercado agrícola e envolvimento do cliente.

• Investimentos de marketing digital: US $ 142 milhões
• Operações da força de vendas: US $ 365 milhões
• Gerenciamento de relacionamento com o cliente: US $ 180 milhões

Nutrien Ltd. (NTR) - Modelo de negócios: fluxos de receita

Vendas de produtos de fertilizantes

Receita total de vendas de fertilizantes para 2022: US $ 13,5 bilhões

Segmento de fertilizantes	Receita (2022)
Potassa	US $ 4,2 bilhões
Azoto	US $ 3,8 bilhões
Fosfato	US $ 2,5 bilhões

Soluções de nutrição de colheita

Receita anual da solução nutricional: US $ 5,7 bilhões

• Soluções de Agricultura de Precisão: US $ 780 milhões
• Mistura de fertilizantes personalizados: US $ 1,2 bilhão
• Produtos de proteção contra culturas: US $ 1,6 bilhão

Serviços de varejo agrícola

Receita total de serviços de varejo em 2022: US $ 7,3 bilhões

Categoria de serviço de varejo	Receita
Vendas de suprimentos agrícolas	US $ 4,5 bilhões
Proteção de sementes e culturas	US $ 2,1 bilhões
Vendas de equipamentos	US $ 700 milhões

Assinaturas de tecnologia e plataforma digital

Receita da plataforma digital: US $ 245 milhões

• Assinaturas de plataforma digital do agricultor: US $ 120 milhões
• Serviços de dados agronômicos: US $ 85 milhões
• Software de agricultura de precisão: US $ 40 milhões

Taxas de serviço de consultoria e consultoria

Receita total de consultoria: US $ 312 milhões

Tipo de serviço de consultoria	Receita
Consultoria de gerenciamento de culturas	US $ 165 milhões
Consultor de saúde do solo	US $ 87 milhões
Serviços de implementação de tecnologia	US $ 60 milhões

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.