NASDAQ : CLMT
Calumet, Inc. — Financial statements
Materials · Specialty Chemicals · United States
Last price 49.65 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.36B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Calumet, Inc. (CLMT) reported revenue of 4.59B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.59B | 4.14B | 4.19B | 4.18B | 4.69B | 3.15B |
| Cost of Revenue | 4.27B | 3.88B | 3.90B | 3.65B | 4.30B | 3.05B |
| Gross Profit | 317.80M | 261.90M | 289.10M | 535.50M | 384.10M | 98.20M |
| Selling, General & Admin | 225.20M | 171.70M | 201.20M | 187.90M | 197.30M | 203.90M |
| Other Operating Expenses | 151.40M | 11.10M | 10.20M | -16.80M | 103.50M | 43.80M |
| Operating Expenses | 376.60M | 182.80M | 211.40M | 171.10M | 300.80M | 247.70M |
| Operating Income | -58.80M | 79.10M | 77.70M | 364.40M | 83.30M | -149.50M |
| Interest Expense | -207.50M | -215.80M | -236.70M | -221.70M | -175.90M | -149.50M |
| Other Non Operating Income (Expenses) | 19.50M | 19.40M | -1.50M | 200.00K | -2.80M | 300.00K |
| EBT Excluding Unusual Items | -246.80M | -117.30M | -160.50M | 142.90M | -95.40M | -298.70M |
| Gain (Loss) on Sale of Assets | -6.40M | 55.80M | ||||
| Asset Writedown | -17.50M | -17.50M | -9.00M | -36.70M | -20.10M | 40.60M |
| Other Unusual Items | -1.40M | -47.40M | -51.70M | -56.50M | -54.40M | -500.00K |
| Pretax Income | -272.10M | -126.40M | -221.20M | 49.70M | -169.90M | -258.60M |
| Income Tax Expense | -135.30M | -92.60M | 800.00K | 1.60M | 3.40M | 1.50M |
| Earnings From Continuing Operations | -136.80M | -33.80M | -222.00M | 48.10M | -173.30M | -260.10M |
| Net Income to Company | -136.80M | -33.80M | -222.00M | 48.10M | -173.30M | -260.10M |
| Minority Interest in Earnings | -1.00M | 3.50M | 5.20M | |||
| Net Income | -136.80M | -33.80M | -222.00M | 47.10M | -169.80M | -254.90M |
| Net Income to Common | -136.80M | -33.80M | -222.00M | 47.10M | -169.80M | -254.90M |
| Shares Outstanding (Basic) | 87.10M | 86.76M | 83.15M | 80.08M | 79.34M | 78.98M |
| Shares Outstanding (Diluted) | 87.10M | 86.76M | 83.15M | 80.08M | 79.34M | 78.98M |
| EPS (Basic) | -1.57 | -0.39 | -2.67 | 0.59 | -2.14 | -3.23 |
| EPS (Diluted) | -1.57 | -0.39 | -2.67 | 0.59 | -2.14 | -3.23 |
| Free Cash Flow | 73.50M | 56.60M | -123.10M | -286.70M | -435.60M | -126.90M |
| Free Cash Flow Per Share | 0.84 | 0.65 | -1.48 | -3.58 | -5.49 | -1.61 |
| Gross Margin | 6.92% | 6.33% | 6.90% | 12.81% | 8.20% | 3.12% |
| Operating Margin | -1.28% | 1.91% | 1.85% | 8.72% | 1.78% | -4.75% |
| Profit Margin | -2.98% | -0.82% | -5.30% | 1.13% | -3.62% | -8.10% |
| Free Cash Flow Margin | 1.60% | 1.37% | -2.94% | -6.86% | -9.29% | -4.03% |
| EBITDA | 83.30M | 227.30M | 226.10M | 510.50M | 176.20M | -49.60M |
| EBITDA Margin | 1.81% | 5.49% | 5.40% | 12.21% | 3.76% | -1.58% |
| D&A For EBITDA | 142.10M | 148.20M | 148.40M | 146.10M | 92.90M | 99.90M |
| EBIT | -58.80M | 79.10M | 77.70M | 364.40M | 83.30M | -149.50M |
| EBIT Margin | -1.28% | 1.91% | 1.85% | 8.72% | 1.78% | -4.75% |
| Effective Tax Rate | 3.22% | |||||
| Advertising Expenses | 6.20M | 10.70M | 10.60M | 9.10M | 7.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 109.80M | 125.10M | 38.10M | 7.90M | 35.20M | 38.10M |
| Cash & Short-Term Investments | 109.80M | 125.10M | 38.10M | 7.90M | 35.20M | 38.10M |
| Accounts Receivable | 417.00M | 224.40M | 241.70M | 252.40M | 244.70M | 216.80M |
| Other Receivables | 8.10M | 36.40M | 33.80M | 22.40M | 36.20M | |
| Receivables | 417.00M | 232.50M | 278.10M | 286.20M | 267.10M | 253.00M |
| Inventory | 421.00M | 385.20M | 416.30M | 439.40M | 497.70M | 326.60M |
| Prepaid Expenses | 35.00M | 28.30M | 25.70M | 51.60M | 19.60M | 14.90M |
| Restricted Cash | 40.00M | 80.00M | 7.80M | |||
| Other Current Assets | 6.70M | 9.60M | ||||
| Total Current Assets | 1.02B | 857.80M | 766.00M | 794.70M | 819.60M | 632.60M |
| Property, Plant & Equipment | 1.32B | 1.58B | 1.68B | 1.62B | 1.59B | 1.10B |
| Goodwill | 140.50M | 173.00M | 173.00M | 173.00M | 173.00M | |
| Other Intangible Assets | 9.10M | 22.80M | 29.90M | 38.40M | 52.60M | |
| Long-Term Deferred Charges | 93.40M | 109.50M | 129.30M | 119.70M | 82.30M | |
| Other Long-Term Assets | 458.80M | 11.30M | 8.70M | 5.10M | 2.90M | 86.80M |
| Total Assets | 2.80B | 2.69B | 2.76B | 2.75B | 2.74B | 2.13B |
| Accounts Payable | 372.10M | 281.50M | 320.80M | 322.00M | 442.00M | 301.00M |
| Accrued Expenses | 156.90M | 130.70M | 140.10M | 135.80M | 127.60M | 121.40M |
| Short-Term Debt | 32.00M | 190.40M | 221.80M | 173.00M | ||
| Current Portion of Long-Term Debt | 33.50M | 155.30M | 34.50M | 54.60M | 18.70M | 6.60M |
| Current Portion of Leases | 65.10M | 59.80M | 76.70M | 71.60M | 65.90M | |
| Current Income Taxes Payable | 17.70M | 11.90M | 13.50M | 9.50M | 11.60M | |
| Other Current Liabilities | 654.30M | 190.40M | 264.50M | 319.70M | 459.70M | 220.30M |
| Total Current Liabilities | 1.22B | 840.70M | 863.60M | 1.11B | 1.35B | 899.80M |
| Long-Term Debt | 2.33B | 2.08B | 2.06B | 1.83B | 1.54B | 1.42B |
| Long-Term Leases | 1.00M | 162.40M | 184.10M | 40.90M | 39.60M | 96.30M |
| Pension & Post-Retirement Benefits | 3.80M | 4.00M | 4.20M | 4.80M | 6.70M | |
| Other Long-Term Liabilities | 138.10M | 92.80M | 110.00M | 10.40M | 95.80M | 94.60M |
| Total Liabilities | 3.69B | 3.18B | 3.22B | 3.00B | 3.03B | 2.51B |
| Common Stock | 900.00K | 900.00K | 900.00K | -484.40M | -525.30M | -378.80M |
| Additional Paid-In Capital | 854.50M | 838.80M | 825.40M | |||
| Retained Earnings | -1.99B | -1.57B | -1.54B | |||
| Comprehensive Income & Other | -6.20M | 1.00M | 800.00K | -7.20M | -8.30M | -10.10M |
| Total Common Equity | -1.14B | -732.70M | -711.90M | -491.60M | -533.60M | -388.90M |
| Minority Interest | 250.60M | 245.60M | 245.60M | 246.90M | 245.90M | 3.80M |
| Shareholders' Equity | -886.50M | -487.10M | -466.30M | -244.70M | -287.70M | -385.10M |
| Total Liabilities & Equity | 2.80B | 2.69B | 2.76B | 2.75B | 2.74B | 2.13B |
| Total Debt | 2.37B | 2.46B | 2.37B | 2.19B | 1.89B | 1.76B |
| Net Cash (Debt) | -2.26B | -2.33B | -2.34B | -2.18B | -1.85B | -1.72B |
| Net Cash Per Share | -25.93 | -26.90 | -28.08 | -27.26 | -23.37 | -21.77 |
| Filing Date Shares Outstanding | 87.90M | 86.78M | 86.21M | 80.22M | 79.84M | 78.68M |
| Total Common Shares Outstanding | 87.84M | 86.78M | 85.95M | 79.97M | 79.19M | 78.68M |
| Working Capital | -194.00M | 17.10M | -97.60M | -318.00M | -531.30M | -267.20M |
| Book Value Per Share | -12.94 | -8.44 | -8.28 | -6.15 | -6.74 | -4.94 |
| Tangible Book Value | -1.14B | -882.30M | -907.70M | -694.50M | -745.00M | -614.50M |
| Tangible Book Value Per Share | -12.94 | -10.17 | -10.56 | -8.68 | -9.41 | -7.81 |
| Land | 10.40M | 10.20M | 8.90M | 8.90M | 8.70M | |
| Buildings | 41.60M | 41.60M | 40.40M | 35.60M | 35.50M | |
| Machinery | 2.51B | 2.50B | 2.47B | 2.15B | 1.65B | |
| Construction In Progress | 76.60M | 42.00M | 39.50M | 222.50M | 116.30M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -136.80M | -33.80M | -222.00M | 47.10M | -169.80M | -254.90M |
| Depreciation & Amortization | 142.10M | 148.20M | 148.40M | 146.10M | 92.90M | 99.90M |
| Other Amortization | 40.00M | 41.60M | 38.60M | 36.80M | 28.50M | 24.80M |
| Loss (Gain) From Sale of Assets | 6.50M | -55.80M | ||||
| Asset Writedown & Restructuring Costs | 17.50M | 17.50M | 9.00M | 36.70M | 20.10M | -40.60M |
| Stock-Based Compensation | 57.40M | -4.50M | 14.60M | 14.70M | 17.30M | 50.70M |
| Other Operating Activities | 135.20M | -1.20M | -24.60M | -223.30M | 301.10M | 182.20M |
| Change in Accounts Receivable | -120.40M | 47.00M | 8.00M | -19.20M | -14.10M | -91.40M |
| Change in Inventory | -46.90M | 14.90M | 16.10M | 25.10M | -190.50M | -27.00M |
| Change in Accounts Payable | 97.30M | -52.20M | 1.70M | -12.40M | 56.90M | 71.00M |
| Change in Other Net Operating Assets | -45.80M | -12.80M | -36.20M | -66.50M | -41.80M | -58.70M |
| Operating Cash Flow | 146.10M | 108.90M | -46.40M | -14.90M | 100.60M | -44.00M |
| Capital Expenditures | -72.60M | -52.30M | -76.70M | -271.80M | -536.20M | -82.90M |
| Sale of Property, Plant & Equipment | 200.00K | 100.00K | ||||
| Divestitures | 1.50M | 96.90M | ||||
| Investment in Securities | -500.00K | -500.00K | ||||
| Other Investing Activities | -1.50M | |||||
| Investing Cash Flow | -73.10M | 44.10M | -76.70M | -271.80M | -536.00M | -82.80M |
| Short-Term Debt Issued | 2.17B | 1.05B | ||||
| Long-Term Debt Issued | 3.74B | 3.66B | 4.42B | 2.02B | 1.42B | |
| Total Debt Issued | 2.85B | 3.74B | 3.66B | 4.42B | 4.19B | 2.47B |
| Short-Term Debt Repaid | -2.13B | -999.20M | ||||
| Long-Term Debt Repaid | -3.70B | -3.45B | -4.11B | -2.30B | -1.38B | |
| Total Debt Repaid | -2.95B | -3.70B | -3.45B | -4.11B | -4.43B | -2.38B |
| Net Debt Issued (Repaid) | -92.60M | 40.10M | 205.20M | 308.80M | -248.90M | 88.90M |
| Other Financing Activities | -21.20M | -33.90M | -50.90M | -42.60M | 597.60M | 50.40M |
| Financing Cash Flow | -113.80M | 6.20M | 154.30M | 266.20M | 348.70M | 139.30M |
| Net Cash Flow | -40.80M | 159.20M | 31.20M | -20.50M | -86.70M | 12.50M |
| Free Cash Flow | 73.50M | 56.60M | -123.10M | -286.70M | -435.60M | -126.90M |
| Free Cash Flow Margin | 1.60% | 1.37% | -2.94% | -6.86% | -9.29% | -4.03% |
| Free Cash Flow Per Share | 0.84 | 0.65 | -1.48 | -3.58 | -5.49 | -1.61 |
| Levered Free Cash Flow | 172.56M | -74.24M | 30.73M | -235.21M | -260.77M | -10.47M |
| Unlevered Free Cash Flow | 302.25M | 60.64M | 178.66M | -96.65M | -150.84M | 82.96M |
| Cash Interest Paid | 151.60M | 172.40M | 232.00M | 201.90M | 151.40M | |
| Change in Working Capital | -115.80M | -3.10M | -10.40M | -73.00M | -189.50M | -106.10M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.32B | 1.72B | 1.89B | 1.43B | 1.34B | 1.04B |
| Enterprise Value | 6.58B | 4.18B | 4.29B | 3.80B | 3.26B | 2.51B |
| Last Close Price | 49.65 | 19.87 | 22.02 | 17.87 | 16.88 | 13.20 |
| PE Ratio | 30.34 | |||||
| Forward PE | 10.89 | 39.87 | 78.64 | 19.64 | 7.76 | 111.20 |
| PS Ratio | 0.95 | 0.42 | 0.45 | 0.34 | 0.28 | 0.33 |
| PB Ratio | -3.54 | -4.06 | -5.84 | -4.65 | -2.70 | |
| P/FCF Ratio | 59.38 | 30.46 | ||||
| P/OCF Ratio | 29.87 | 15.83 | 13.29 | |||
| PEG Ratio | 0.17 | 0.17 | 0.26 | 0.56 | 1.57 | |
| EV/Sales Ratio | 1.44 | 1.01 | 1.02 | 0.91 | 0.69 | 0.80 |
| EV/EBITDA Ratio | 79.50 | 18.38 | 18.95 | 7.43 | 18.48 | |
| EV/EBIT Ratio | 52.81 | 55.16 | 10.41 | 39.09 | ||
| EV/FCF Ratio | 90.10 | 73.81 | ||||
| Debt / Equity Ratio | -2.67 | -5.05 | -5.09 | -8.95 | -6.57 | -4.56 |
| Debt / EBITDA Ratio | 28.43 | 7.39 | 7.35 | 3.66 | 6.77 | 74.78 |
| Debt / FCF Ratio | 32.22 | 43.45 | ||||
| Net Debt / Equity Ratio | -2.55 | -4.79 | -5.01 | -8.92 | -6.45 | -4.46 |
| Net Debt / EBITDA Ratio | 27.11 | 10.27 | 10.33 | 4.28 | 10.52 | -34.66 |
| Net Debt / FCF Ratio | 30.72 | 41.24 | -18.97 | -7.61 | -4.26 | -13.55 |
| Asset Turnover | 1.65 | 1.52 | 1.52 | 1.52 | 1.93 | 1.60 |
| Inventory Turnover | 10.80 | 9.67 | 9.12 | 7.78 | 10.44 | 10.49 |
| Quick Ratio | 0.43 | 0.42 | 0.37 | 0.26 | 0.22 | 0.32 |
| Current Ratio | 0.84 | 1.02 | 0.89 | 0.71 | 0.61 | 0.70 |
| Return on Assets (ROA) | -1.32% | 1.81% | 1.76% | 8.29% | 2.14% | -4.75% |
| Return on Invested Capital (ROIC) | -3.48% | 4.23% | 4.40% | 23.29% | 6.36% | -12.00% |
| Return on Capital Employed (ROCE) | -3.70% | 4.30% | 4.10% | 22.20% | 6.00% | -12.20% |
| Earnings Yield | -3.19% | -1.96% | -11.74% | 3.30% | -12.70% | -24.54% |
| FCF Yield | 1.68% | 3.28% | -6.51% | -20.06% | -32.59% | -12.22% |
| Buyback Yield / Dilution | -1.02% | -4.35% | -3.84% | -0.93% | -0.45% | -0.78% |
| Total Shareholder Return | -1.02% | -4.35% | -3.84% | -0.93% | -0.45% | -0.78% |