Icahn Enterprises
Icahn Enterprises L.P. (NASDAQ: IEP) is a Carl Icahn-controlled diversified holding company operating seven segments — Investment activist funds, Energy (CVR Energy, CVR Partners), Automotive (AAMCO, Precision Tune), Food Packaging (Viskase), Real Estate, Home Fashion (WestPoint Home), and Pharma (Vivus) — generating revenue through operating subsidiaries and activist investment gains.
- Company typePublic
- Founded1987
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Icahn Enterprises does
Icahn Enterprises L.P. is a Delaware master limited partnership (NASDAQ: IEP) founded in 1987 by Carl C. Icahn, who controls approximately 87.28% of outstanding depositary units. The company operates as a diversified holding company across seven primary segments: Investment (activist funds Icahn Partners LP and Icahn Partners Master Fund LP), Energy (CVR Energy refining ~115,000 barrels per day of crude oil and CVR Partners nitrogen fertilizers), Automotive (AAMCO Transmissions and Precision Tune Auto Care following the July 2026 sale of Pep Boys to Mavis Tire for ~$700 million), Food Packaging (Viskase Companies), Real Estate (including retained Pep Boys-owned property), Home Fashion (WestPoint Home textiles), and Pharma (Vivus LLC). Revenue is generated through a mix of operating-subsidiary product sales (energy, automotive services, food casings, home textiles, pharmaceuticals) and episodic activist-investment gains and dividend income from the Investment segment. The parent functions as a capital allocator and strategic overseer, deploying roughly $4.1 billion in combined liquidity across its portfolio.
The company's FY 2025 revenue was approximately $9.7 billion against a net loss of $299 million (improved from a $445 million loss in FY 2024), and Q1 2026 revenue reached $2.2 billion (+18.1% year-over-year) with an indicative NAV of ~$3.4 billion. IEP distributes a quarterly cash/unit payout to unitholders, which was cut from $2.00 to $0.50 in November 2024 to preserve capital. Go-to-market is conducted through the operating subsidiaries' own channels: wholesale and industrial buyers for CVR Energy and CVR Partners; food processors globally for Viskase; retail consumers and fleet customers through AAMCO and Precision Tune service centers; and institutional capital partners for the Investment segment's activist campaigns. The company itself does not employ a core technology platform, and its competitive differentiation rests on Carl Icahn's brand, capital scale, and governance influence rather than on technology assets.
Recent strategic activity has centered on portfolio rationalization and opportunistic activist bets: divesting Pep Boys, pursuing a competing $6 billion bid for Caesars Entertainment against Fertitta, building a 17% stake in Monro, Inc., and deepening control of CVR Energy via a tender offer. Leadership transitioned in May 2026 with Ted Papapostolou moving from CFO to CEO and Robert Flint from CAO to CFO, marking the first non-Carl Icahn-led operating era at the parent. The August 2024 SEC $2 million fine for undisclosed margin loans and a dismissed Hindenburg-related class action are notable governance overhangs but have not impaired operating continuity.
Icahn Enterprises firmographics
Firmographics- Name
- Icahn Enterprises
- Legal name
- Icahn Enterprises L.P.
- Website
- https://ielp.com
- Company type
- Public
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Icahn Enterprises L.P. (NASDAQ: IEP) is a Carl Icahn-controlled diversified holding company operating seven segments — Investment activist funds, Energy (CVR Energy, CVR Partners), Automotive (AAMCO, Precision Tune), Food Packaging (Viskase), Real Estate, Home Fashion (WestPoint Home), and Pharma (Vivus) — generating revenue through operating subsidiaries and activist investment gains.
- Ownership category
- akta.pro rank
Icahn Enterprises industry classification
Industry- Product category
- Diversified Holding Company Operations
- NAICS
- Corporate, Subsidiary, and Regional Managing Offices (551114), Offices of Other Holding Companies (551112), Miscellaneous Intermediation (52391)
- SIC
- Investors, Nec (6799), Non-Operating Establishments (9995)
- akta.pro primary industry
- Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)
- akta.pro secondary industry
- Strategic Partnerships, Alliances & JVs Advisory (BPAHADAI)
Keywords
Where Icahn Enterprises is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Icahn Enterprises business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales
Revenue model
- Investment Returns: Returns from activist investment activities through private investment funds, generating net gain/loss from investment activities, interest and dividend income.
- Energy Segment: Revenue from petroleum refining and nitrogen fertilizer manufacturing through CVR Energy and CVR Partners. Includes net sales from refined products, crude oil processing, and agricultural fertilizers.
- Automotive Segment: Revenue from automotive services including tire sales, repairs, oil changes, and maintenance through Pep Boys (until 2026 sale), AAMCO Transmissions, and Precision Tune Auto Care.
- Food Packaging: Revenue from Viskase Companies, Inc. providing food packaging casings and solutions.
- Real Estate: Revenue from commercial and residential real estate operations and property holdings.
- Home Fashion: Revenue from WestPoint Home, a textile manufacturer for home fashion products.
- Pharma: Revenue from Vivus LLC pharmaceutical products and treatments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Quarterly | Quarterly Distribution: $0.50 per depositary unit |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Icahn Enterprises product offering
Product offeringCore offering
Icahn Enterprises L.P. is a diversified holding company operating through seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma. The partnership manages a portfolio of operating subsidiaries and investment activities, generating revenue from automotive parts remanufacturing and distribution, energy services, food and packaging manufacturing, real estate operations, home fashion products, and pharmaceutical services. As a Delaware master limited partnership, it combines operating company management with investment activities under a single corporate umbrella.
Product overview
Icahn Enterprises L.P. is a diversified holding company organized as a Delaware master limited partnership. The company operates through seven primary business segments: Investment (activist investment funds), Energy (petroleum refining and nitrogen fertilizer through CVR Energy and CVR Partners), Automotive (automotive services including AAMCO Transmissions and Precision Tune Auto Care), Food Packaging (through Viskase), Real Estate, Home Fashion (through WestPoint Home), and Pharma (through Vivus). Each segment operates as a semi-autonomous subsidiary with its own management, while the parent company provides capital allocation and strategic direction.
Differentiator
Problem solved
Functional benefit
Brands
- Pep Boys: Automotive service chain offering tires, repairs, oil changes, and maintenance services from nearly 800 locations nationwide. Founded in 1921.
- AAMCO Transmissions
- Precision Tune Auto Care
Products and services
- Investment Segment
Quantifiable outcome
- Q1 2026 NAV increased $201 million to approximately $3.4 billion, driven primarily by $605 million gain in CVR Energy position
- +3 more outcomes
Companies that use Icahn Enterprises
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles2 records
Icahn Enterprises technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Icahn Enterprises partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered major and minor.
- Mavis Tire Express Services Corp.majorMavis Tire acquired Pep Boys automotive service chain from Icahn Enterprises for approximately $700 million in cash. The transaction expands Mavis's network to over 4,400 service centers while Icahn Enterprises retains owned real estate from Pep Boys along with AAMCO Transmissions and Precision Tune Auto Care businesses.
- Caesars EntertainmentminorCarl Icahn and Icahn Enterprises submitted a competing acquisition offer of approximately $33 per share (equity value ~$6 billion) to acquire Caesars Entertainment, competing against Tilman Fertitta's $34 per share offer. Icahn had built a 9.78% stake since 2019 and advocated for selling the company.
- Centuri HoldingsminorIcahn Enterprises holds a significant investment in Centuri Holdings, a North American utility infrastructure services company. Dustin DeMaria, an analyst from Icahn Enterprises, was appointed to Centuri's Board of Directors under a cooperation agreement. Centuri reported record revenue of $3 billion for fiscal year 2025.
- Covington & Burling LLPminorLegal counsel serving Icahn Enterprises in the Pep Boys sale transaction to Mavis Tire.
- Brown Rudnick LLPminorLegal counsel serving Icahn Enterprises in the Pep Boys sale transaction to Mavis Tire.
- GE AerospaceminorIndustrial machinery peer company. Q1 2026 earnings comparison showed GE Aerospace revenue of $11.61 billion (up 29% YoY) vs Icahn Enterprises missing revenue estimates by 4.1%.
- Grupo MéxicominorFinancial comparison peer. Grupo México ranks higher on 5 of 9 comparison factors including lower beta and stronger analyst ratings. Icahn Enterprises reports $9.30 billion revenue but posted $299 million net loss with negative margins.
- MitsubishiminorFinancial comparison peer. Mitsubishi outperforms Icahn Enterprises in most categories including revenue, earnings, and profitability, though Icahn Enterprises has significant institutional ownership.
Scale indicators14 records
Recent moves6 records
Expansion highlights6 records
Icahn Enterprises competitors and assessment
Company assessmentMarket position
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Icahn Enterprises social profiles
Digital presenceIcahn Enterprises financial estimates
Financial estimateRevenue estimate
Valuation estimate
Icahn Enterprises leadership team
Management profileNumber of profiles
Profiles7 records
Icahn Enterprises subsidiaries and ownership
Company hierarchySubsidiaries10 records
Icahn Enterprises funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Icahn Enterprises M&A and investment
M&A and investmentM&A8 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Icahn Enterprises
What does Icahn Enterprises do?
Icahn Enterprises L.P. is a diversified holding company operating through seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma. The partnership manages a portfolio of operating subsidiaries and investment activities, generating revenue from automotive parts remanufacturing and distribution, energy services, food and packaging manufacturing, real estate operations, home fashion products, and pharmaceutical services. As a Delaware master limited partnership, it combines operating company management with investment activities under a single corporate umbrella.
Is Icahn Enterprises a public or private company?
Icahn Enterprises is a public company. It is classified as public and is currently operating.
When was Icahn Enterprises founded?
Icahn Enterprises was founded in 1987. It employs 51 to 100 people.
Where is Icahn Enterprises based?
Icahn Enterprises is headquartered in New York, United States, in the North America region.
How does Icahn Enterprises make money?
Seven revenue lines are on record. Investment Returns are the primary driver. The others are energy Segment, automotive Segment, food Packaging, real Estate, home Fashion and pharma.
Does Icahn Enterprises have an API?
No public API is recorded for Icahn Enterprises.
What industry is Icahn Enterprises in?
Icahn Enterprises's product category is Diversified Holding Company Operations. Its primary akta.pro industry code is FSANAHAF, Corporate Strategic Partnership & Ecosystem Investment Arms, with a secondary code of BPAHADAI, Strategic Partnerships, Alliances & JVs Advisory. Its NAICS code is 551114 and its SIC code is 6799.