Saturday 17 October 2026 Export CLMT’s income statement to Excel — free account

Calumet, Inc.

CLMT Basic Materials Specialty Chemicals

Calumet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.1 billion, down 1.25% from fiscal 2024. In the quarter to June 2026, revenue grew 40.8%, EPS grew 35.9%, free cash flow grew 450.7% and total debt fell 1.98%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

57.75 0.49 −0.84%

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Market cap: $5.1B
P/E: 0.0×
Fwd P/E: −9.0×
Dividend yield: —
F-score: 5/9
Altman Z: 1.16
Beneish M: −2.96
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 20.67

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	2	—	—	—	1	1	—	1	—	1	—

Insider Ownership 21.16%

Capital & Financial Ratios $m

Market Cap 5,120.00

Revenue 4,591.40

Net Income (136.80)

Free Cash Flow 73.50

Net Debt 2,589.10

Current Ratio 0.84

Debt/Equity (2.41)

P/E ratio 0.00

Fwd P/E (8.96)

P/S ratio 1.10

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth (483.34%)

Next Y EPS Growth 195.14%

Next Y revenue growth 19.26%

Next 5Y EPS Growth 56.05%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 99.78%

10-year low 10-year high

EV/Sales against its own 10 years 99.78%

10-year low 10-year high

EV/FCF against its own 10 years 91.77%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2016	0.69	0.69

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	8	46	205	150
Receivables	286	278	233	417
Inventory	439	416	385	421
Other	10	—	7	—
	795	766	858	1,023

	2023	2024	2025	Q'26
Payables	322	321	282	372
ST’ Debt	333	281	326	514
Other	233	51	21	174
	1,113	864	841	1,217

Compound Annual Growth %

	10y	5y	3y
Sales	0.51%	12.77%	(4.07%)
Cash Flow	(11.66%)	11.64%	2.68%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	0.00%	0.00%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,030	1,445	—	—	—
’25	994	1,027	1,078	1,039	4,137
’24	1,006	1,134	1,100	950	4,189
’23	1,037	1,018	1,149	977	4,181
’22	1,098	1,424	1,165	999	4,686
’21	600	807	875	866	3,148
’20	693	454	568	554	2,268

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(86)	92	—	—	—
’25	(29)	(2)	24	117	109
’24	(94)	67	(15)	(3)	(46)
’23	(27)	(26)	45	(7)	(15)
’22	(3)	90	64	(50)	101
’21	(50)	(39)	59	(14)	(44)
’20	(20)	70	15	(2)	63

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(99)	54	—	—	—
’25	(47)	(15)	15	104	57
’24	(114)	52	(32)	(28)	(123)
’23	(157)	(104)	13	(39)	(287)
’22	(70)	(22)	(134)	(210)	(435)
’21	(56)	(49)	42	20	(44)
’20	(35)	57	8	(11)	19

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(3.64)	(1.09)	—	—	—
’25	(1.87)	(1.70)	3.61	(0.43)	(0.39)
’24	(0.51)	(0.48)	(1.18)	(0.47)	(2.67)
’23	0.23	(0.23)	1.26	(0.59)	0.59
’22	(1.18)	(0.19)	0.19	(0.86)	(2.04)
’21	(1.82)	(0.97)	0.64	(1.08)	(3.23)
’20	(0.18)	0.05	(0.70)	(1.03)	(1.86)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	2.79	3.40	1.99	2.12	0.82	2.96	8.40	11.91	9.97	7.68	Analyst estimates 2026–2028 Powerpack
	High	20.27	9.95	8.75	5.00	4.70	17.43	20.50	20.25	25.29	23.75
People
People	Employees	2,000	1,600	1,700	1,500	1,400	1,450	1,530	1,580	1,620	1,540
	Revenue/emp, $m	1.74	2.35	2.06	2.30	1.62	2.17	3.06	2.65	2.59	2.69
Income, $m
Income, $m	Revenue	3,474	3,764	3,498	3,453	2,268	3,148	4,686	4,181	4,189	4,137
	Gross margin, %	11.12	13.24	12.49	13.08	4.37	4.54	7.50	10.80	5.51	5.94
	EBT	(297)	(31)	(50)	(43)	(148)	(259)	(170)	50	(221)	(126)
	EBT margin, %	(8.54)	(0.83)	(1.44)	(1.25)	(6.52)	(8.21)	(3.63)	1.19	(5.28)	(3.06)
	Net income	(329)	(104)	(55)	(44)	(149)	(260)	(173)	48	(222)	(34)
	Depreciation	185	179	131	129	120	125	121	183	187	190
Per share, $
Per share, $	Revenue	45.10	48.50	44.87	44.14	28.94	39.86	59.07	52.21	50.39	47.68
	Earnings	(4.18)	(1.07)	(0.69)	(0.55)	(1.86)	(3.23)	(2.04)	0.59	(2.67)	(0.39)
	Cash flow	0.05	(0.34)	0.96	2.45	0.80	(0.56)	1.27	(0.19)	(0.56)	1.26
	Capex	(1.78)	(0.90)	(0.63)	(0.65)	(0.56)	0.00	(6.76)	(3.39)	(0.92)	(0.60)
	Free cash flow	(1.73)	(1.24)	0.33	1.80	0.24	(0.56)	(5.49)	(3.58)	(1.48)	0.65
	Book value	2.84	1.55	0.84	0.28	(1.64)	(4.88)	(6.72)	(6.12)	(8.56)	(8.44)
	Shares, m	77	78	78	78	78	79	79	80	83	87
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	26.08	0.00	0.00
	P/S	0.09	0.15	0.05	0.08	0.11	0.33	0.28	0.34	0.44	0.42
	P/B	1.52	5.38	3.26	29.74	0.00	0.00	0.00	0.00	0.00	0.00
	EV/Sales	0.66	0.54	0.46	0.43	0.70	0.86	0.70	0.85	0.99	0.95
	EV/FCF	(17.25)	(21.29)	62.83	10.50	84.00	(61.72)	(7.57)	(12.42)	(33.55)	69.29
Cash, $m
Cash, $m	Operating cash flow	4	(26)	75	192	63	(44)	101	(15)	(46)	109
	Capex	(137)	(70)	(49)	(51)	(44)	0	(536)	(272)	(77)	(52)
	Free cash flow	(133)	(96)	26	141	19	(44)	(435)	(287)	(123)	57
Balance, $m
Balance, $m	Working capital	143	266	255	(53)	(10)	(267)	(531)	(318)	(98)	17
	Total debt	1,997	1,992	1,605	1,211	1,452	1,705	2,036	2,163	2,346	2,403
	Net debt	1,993	1,478	1,449	1,192	1,342	1,667	2,001	2,155	2,300	2,198
	Shareholders’ equity	219	120	66	22	(129)	(385)	(533)	(490)	(712)	(733)
Returns, %
Returns, %	ROA	(11.36)	(3.76)	(2.26)	(2.16)	(7.96)	(12.95)	(6.97)	1.72	(8.06)	(1.24)
	ROIC	(0.01)	6.18	5.07	3.93	(3.70)	(4.17)	5.62	10.03	0.32	4.64
	ROE	(82.64)	(65.83)	(67.92)	(136.64)	228.13	96.83	36.81	(9.19)	36.89	4.68

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
EMN Eastman Chemical Company	$7.3B	16.1×	11.5×	+9.88% (above 0%: growing)	+31.15% (above 0%: growing)	+49.40% (above 0%: growing)	22.28%	12.38%	Compare
AXTA Axalta Coating Systems Ltd.	$7.2B	20.5×	13.6×	+3.14% (above 0%: growing)	−16.00% (below 0%: shrinking)	+7.22% (above 0%: growing)	34.55%	12.41%	Compare
SXT Sensient Technologies Corporation	$5.7B	36.0×	28.5×	+11.55% (above 0%: growing)	+35.96% (above 0%: growing)	−64.25% (below 0%: shrinking)	37.40%	16.60%	Compare
BCPC Balchem Corporation	$5.4B	33.5×	30.5×	+11.17% (above 0%: growing)	+18.80% (above 0%: growing)	−11.98% (below 0%: shrinking)	36.51%	20.85%	Compare
CLMT Calumet, Inc.	$5.1B	— (loss-making)	— (loss-making)	+40.77% (above 0%: growing)	n/m	+450.65% (above 0%: growing)	1.27%	(2.77%)
PRM Perimeter Solutions, SA	$4.5B	— (loss-making)	14.0×	+31.46% (above 0%: growing)	n/m	+56.62% (above 0%: growing)	55.13%	(94.95%)	Compare
CBT Cabot Corporation	$3.9B	20.9×	8.6×	+6.39% (above 0%: growing)	−93.58% (below 0%: shrinking)	−77.02% (below 0%: shrinking)	18.74%	9.98%	Compare
AVNT Avient Corporation	$3.6B	21.0×	14.0×	+5.83% (above 0%: growing)	+24.56% (above 0%: growing)	−16.67% (below 0%: shrinking)	33.54%	12.26%	Compare
ASH Ashland Inc.	$3.3B	62.4×	24.9×	+7.34% (above 0%: growing)	n/m	+5.26% (above 0%: growing)	34.21%	8.65%	Compare
Median of peers	$5.0B	21.0×	14.0×	+8.61%	+21.68%	−3.36%	34.38%	12.32%

All 60 Specialty Chemicals stocks →

Calumet, Inc. (CLMT) key facts

Concern: Calumet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.1 billion, down 1.25% from fiscal 2024.
Calumet, Inc. (CLMT) is a Specialty Chemicals company in the Basic Materials sector, listed on Nasdaq.
As of October 16, 2026, CLMT traded at $57.75, a market capitalization of $5.1 billion.
Return on equity was 4.68% and debt-to-equity -2.41.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.16 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.