CLMT

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Calumet, Inc

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Key Metrics

Previous Close: $49.19
52-Week Range: $13.71 – $51.50
Market Cap: $4.24B
P/E (TTM): —
EPS (TTM): -1.51
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: 0.65
Return on Equity: —
Return on Assets: -1.32%
Gross Margin: 6.92%
Operating Margin: -4.57%
Profit Margin: -2.98%
Current Ratio: 0.84
Debt/Equity: —
Total Debt: $2.37B
Free Cash Flow: $172.56M
Revenue Growth: 40.80%
Earnings Growth: —
Enterprise Value: $6.75B

CLMT Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$4.69B	$4.18B	$4.19B	$4.14B
Cost of Revenue	$4.33B	$3.73B	$3.96B	$3.89B
Gross Profit	$351.70M	$451.70M	$230.80M	$245.70M
Selling, General & Admin	$197.30M	$187.90M	$201.20M	$171.70M
Operating Expenses	$219.10M	$181.00M	$220.70M	$191.50M
Operating Income	$132.60M	$270.70M	$10.10M	$54.20M
EBITDA	$104.30M	$418.20M	$164.50M	$238.20M
Pretax Income	-$169.90M	$49.70M	-$221.20M	-$126.40M
Income Tax	$3.40M	$1.60M	$800.00K	-$92.60M
Net Income	-$173.30M	$48.10M	-$222.00M	-$33.80M
Diluted EPS	-2.04	0.59	-2.67	-0.39
Diluted Shares	79.34M	80.08M	83.15M	86.76M

CLMT Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$35.20M	$7.90M	$38.10M	$125.10M
Receivables	$267.10M	$286.20M	$278.10M	$232.50M
Inventory	$497.70M	$439.40M	$416.30M	$385.20M
Current Assets	$819.60M	$794.70M	$766.00M	$857.80M
Total Assets	$2.74B	$2.75B	$2.76B	$2.69B
Current Liabilities	$1.35B	$1.11B	$863.60M	$840.70M
Long-Term Debt	$1.54B	$1.83B	$2.06B	$2.08B
Total Debt	$1.67B	$2.00B	$2.34B	$2.46B
Total Liabilities	$3.03B	$3.00B	$3.22B	$3.18B
Retained Earnings	—	$0.00	-$1.54B	-$1.57B
Shareholders' Equity	$0.00	$0.00	-$711.90M	-$732.70M
Working Capital	-$531.30M	-$318.00M	-$97.60M	$17.10M
Net Debt	$1.52B	$1.88B	$2.06B	$2.11B

CLMT Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$100.60M	-$14.90M	-$46.40M	$108.90M
Capital Expenditure	-$536.20M	-$271.80M	-$76.70M	-$52.30M
Free Cash Flow	-$435.60M	-$286.70M	-$123.10M	$56.60M
Depreciation & Amortisation	$98.30M	$146.80M	$149.00M	$148.80M
Stock-Based Compensation	$17.30M	$14.70M	$14.60M	-$4.50M
Investing Cash Flow	-$536.00M	-$271.80M	-$76.70M	$44.10M
Financing Cash Flow	$348.70M	$266.20M	$154.30M	$6.20M
Share Repurchases	-$4.40M	$0.00	$0.00	—
Net Change in Cash	-$86.70M	-$20.50M	$31.20M	$159.20M

CLMT Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$993.90M	$1.03B	$1.08B	$1.04B	$1.03B
Cost of Revenue	$1.08B	$1.07B	$704.30M	$1.04B	$1.12B
Gross Profit	-$81.40M	-$43.60M	$373.70M	-$3.00M	-$87.50M
Selling, General & Admin	$24.40M	$53.30M	$42.30M	$51.70M	$78.30M
Operating Expenses	$29.50M	$57.40M	$44.40M	$60.20M	$83.80M
Operating Income	-$110.90M	-$101.00M	$329.30M	-$63.20M	-$171.30M
EBITDA	-$66.10M	-$94.80M	$325.60M	-$38.30M	-$253.70M
Pretax Income	-$161.60M	-$147.70M	$272.00M	-$89.10M	-$337.80M
Income Tax	$400.00K	$200.00K	-$41.40M	-$51.80M	-$20.80M
Net Income	-$162.00M	-$147.90M	$313.40M	-$37.30M	-$317.00M
Diluted EPS	-1.87	-1.70	3.61	-0.43	-3.64
Diluted Shares	86.43M	86.80M	86.90M	86.91M	87.00M

CLMT Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$123.40M	$110.60M	$94.60M	$125.10M	$138.60M
Receivables	$303.20M	$305.90M	$278.70M	$232.50M	$358.40M
Inventory	$389.40M	$370.50M	$400.10M	$385.20M	$369.50M
Current Assets	$917.90M	$895.80M	$880.10M	$857.80M	$927.90M
Total Assets	$2.82B	$2.78B	$2.73B	$2.69B	$2.75B
Current Liabilities	$869.10M	$1.18B	$776.30M	$840.70M	$963.10M
Long-Term Debt	$2.30B	$2.11B	$2.15B	$2.08B	$2.30B
Total Debt	$2.33B	$2.34B	$2.30B	$2.46B	$2.33B
Total Liabilities	$3.44B	$3.54B	$3.18B	$3.18B	$3.55B
Retained Earnings	-$1.70B	-$1.85B	-$1.54B	-$1.57B	-$1.89B
Shareholders' Equity	-$862.30M	-$1.01B	-$695.30M	-$732.70M	-$1.04B
Working Capital	$48.80M	-$280.20M	$103.80M	$17.10M	-$35.20M
Net Debt	$2.20B	$2.23B	$2.21B	$2.11B	$2.19B

CLMT Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$29.30M	-$1.80M	$23.50M	$116.50M	-$86.20M
Capital Expenditure	-$17.60M	-$13.60M	-$8.40M	-$12.70M	-$13.20M
Free Cash Flow	-$46.90M	-$15.40M	$15.10M	$103.80M	-$99.40M
Depreciation & Amortisation	$37.00M	—	—	—	$33.00M
Stock-Based Compensation	-$21.50M	—	—	—	$37.40M
Investing Cash Flow	$77.80M	-$13.60M	-$8.40M	-$11.70M	-$13.70M
Financing Cash Flow	$109.00M	$2.60M	-$31.10M	-$74.30M	$73.40M
Net Change in Cash	$157.50M	-$12.80M	-$16.00M	$30.50M	-$26.50M

Market Snapshot

About

Calumet, Inc. is a diversified producer of specialty hydrocarbon products including specialty solvents, waxes, lubricants, and fuels. Headquartered in Indianapolis, Indiana, the company operates refineries and production facilities across North America processing crude oil and renewable feedstocks into high-margin specialty products. Calumet serves customers in industries ranging from personal care and pharmaceuticals to industrial manufacturing and transportation. The company has expanded into renewable fuels production including sustainable aviation fuel and renewable diesel to meet evolving market demand.