Balchem Corporation (BCPC) vs Calumet, Inc. (CLMT)

Balchem Corporation and Calumet, Inc. are both Specialty Chemicals companies. Balchem Corporation is the larger, with a market value of $5.4B against $4.7B — 1.1× the size. Calumet, Inc. has negative trailing earnings, so its P/E is not meaningful; Balchem Corporation trades at 33.0×. Calumet, Inc. grew revenue faster over the last twelve months: 12.8% against 10.1%. Balchem Corporation has the higher net margin (15.1% vs −2.98%) and the higher return on invested capital (9.79% vs 2.03%). Across the 19 metrics below, Balchem Corporation leads on 12 and Calumet, Inc. on 7.

Valuation

Metric BCPC CLMT Specialty Chemicals median
P/E 32.98 n/m 24.83
P/S 4.93 1.02 1.46
P/B 4.11 n/m 1.76
Price to free cash flow n/m 63.93 19.84
EV/EBITDA 20.29 54.43 13.18
EV/Sales 5.04 1.59 1.84
Earnings yield 3.03% (2.89%) 2.11%
Free cash flow yield (2.33%) 1.56% 2.29%

Profitability

Metric BCPC CLMT Specialty Chemicals median
Gross margin 36.29% 6.57% 29.23%
Operating margin 20.42% 1.03% 3.63%
Net margin 15.14% (2.98%) 2.89%
Free cash flow margin 15.78% 1.60% 3.78%
Return on equity 12.79% 12.74% 3.62%
Return on assets 9.77% (4.90%) 0.35%
Return on invested capital 9.79% 2.03% 2.75%

Growth

Metric BCPC CLMT Specialty Chemicals median
Revenue growth (TTM) 10.14% 12.80% 4.51%
EPS growth (last fiscal year) 20.87% 85.39% —
Revenue growth, 5-year CAGR 8.07% 12.77% 6.30%
Net income growth, 5-year CAGR 12.84% 0.00% 0.00%

Health

Metric BCPC CLMT Specialty Chemicals median
Debt to equity 0.14 (2.41) 0.54
Current ratio 2.66 0.84 1.94
Net debt to EBITDA 0.44 7.36 2.03

Dividend

Metric BCPC CLMT Specialty Chemicals median
Dividend yield 0.55% — 1.69%
Payout ratio 0.23 — 0.25

Size

Metric BCPC CLMT Specialty Chemicals median
Market cap 5.35b 4.69b 2.43b

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