A Business at a Glance
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Items 1 and 2. Business and Properties We manufacture, formulate and market a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. We are headquartered in Indianapolis, Indiana and operate twelve facilities throughout North America. Our operations are managed using the following reportable segments: Specialty Products and Solutions; Performance Brands; Montana/Renewables; and Corporate. In our Specialty Products and Solutions segment, we manufacture and market a wide variety of solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. Our specialty products are sold to domestic and international customers who purchase them primarily as raw material components for consumer-facing and industrial products. In our Performance Brands segment, we blend, package and market high performance products through our Royal Purple, Bel-Ray, and TruFuel brands.
| Metric | TTM | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | 4.1B | 4.1B | 4.2B | 4.2B |
| Net Income | -34M | -34M | -222M | -1.0M |
| EPS | $-0.39 | $-0.39 | $-2.67 | $-0.01 |
| Free Cash Flow | 57M | 57M | -123M | -287M |
| ROIC | 4.9% | 7.3% | 1.0% | 16.7% |
| Gross Margin | 5.9% | 5.9% | 5.5% | 10.8% |
| Debt/Equity | 0.00 | -3.57 | -3.34 | -4.19 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | 109M | 109M | 16M | 267M |
| Operating Margin | 2.6% | 2.6% | 0.4% | 6.4% |
| ROE | 0.0% | - | - | - |
| Shares Outstanding | 87M | 87M | 83M | 86M |
| Metric | 2023 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 4.2B | 4.2B | 4.1B | 4.1B |
| Gross Margin | 10.8% | 5.5% | 5.9% | 5.9% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | 133M | 146M | 124M | 124M |
| EBIT | 267M | 16M | 109M | 109M |
| Op. Margin | 6.4% | 0.4% | 2.6% | 2.6% |
| Net Income | -1.0M | -222M | -34M | -34M |
| Net Margin | -0.0% | -5.3% | -0.8% | -0.8% |
| Non-Recurring | 3.5M | 2.0M | 57M | 57M |
| Returns on Capital | ||||
| ROIC | 16.7% | 1.0% | 7.3% | 4.9% |
| ROE | N/A | N/A | N/A | 0.0% |
| ROA | -0.0% | -8.0% | -1.2% | -1.3% |
| Cash Flow | ||||
| Op. Cash Flow | -15M | -46M | 109M | 109M |
| Free Cash Flow | -287M | -123M | 57M | 57M |
| Owner Earnings | -176M | -210M | -44M | -44M |
| CapEx | 272M | 77M | 52M | 52M |
| Maint. CapEx | 147M | 149M | 149M | 149M |
| Growth CapEx | 125M | 0 | 0 | 0 |
| D&A | 147M | 149M | 149M | 149M |
| CapEx/OCF | N/A | N/A | 48.0% | 48.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 15M | 15M | 4.5M | 4.5M |
| Debt Repayment | 13M | 2.0B | 2.5B | 2.5B |
| Balance Sheet | ||||
| Net Debt | 2.0B | 2.3B | 2.4B | 2.5B |
| Cash & Equiv. | 7.9M | 38M | 125M | 125M |
| Long-Term Debt | 1.8B | 2.1B | 2.1B | 2.1B |
| Debt/Equity | -4.19 | -3.34 | -3.57 | 0.00 |
| Interest Coverage | 1.2 | 0.1 | 0.5 | 0.5 |
| Equity | -490M | -712M | -733M | -733M |
| Total Assets | 2.8B | 2.8B | 2.7B | 2.7B |
| Total Liabilities | 3.0B | 3.2B | 3.2B | 3.2B |
| Intangibles | 29M | 22M | 8.7M | 8.7M |
| Retained Earnings | N/A | -1.5B | -1.6B | -1.6B |
| Working Capital | -318M | -98M | 17M | 17M |
| Current Assets | 795M | 766M | 858M | 858M |
| Current Liabilities | 1.1B | 864M | 841M | 841M |
| Per Share Data | ||||
| EPS | -0.01 | -2.67 | -0.39 | -0.39 |
| Owner EPS | -2.05 | -2.53 | -0.51 | -0.51 |
| Book Value | -5.69 | -8.56 | -8.45 | -8.45 |
| Cash Flow/Share | -0.17 | -0.56 | 1.26 | 1.33 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 86.2M | 83.1M | 86.7M | 86.7M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -84.4 |
| P/FCF | N/A | N/A | 30.1 | 50.4 |
| EV/EBIT | 13.0 | 246.4 | 35.4 | 49.1 |
| Price/Book | N/A | N/A | N/A | N/A |
| Price/Sales | 0.3 | 0.3 | 0.3 | 0.7 |
| FCF Yield | -18.6% | -7.0% | 3.3% | 2.0% |
| Market Cap | 1.5B | 1.8B | 1.7B | 2.9B |
| Avg. Price | 16.92 | 17.18 | 16.06 | 32.90 |
| Year-End Price | 17.86 | 21.17 | 19.69 | 32.90 |
Calumet, Inc. /DE passes 0 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 50.4x vs a median of 30.1x. The company's 5-year average ROIC is 8.3% with a gross margin of 7.4%.
Calumet, Inc. /DE (CLMT) has a 5-year average return on invested capital (ROIC) of 8.3%. This is below average and may indicate limited pricing power.
Calumet, Inc. /DE (CLMT) has a market capitalization of $2.9B. It is classified as a mid-cap stock.
Calumet, Inc. /DE (CLMT) does not currently pay a regular dividend.
Calumet, Inc. /DE (CLMT) operates in the Petroleum Refining industry, within the Energy sector.
Calumet, Inc. /DE (CLMT) reported annual revenue of $4.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Calumet, Inc. /DE (CLMT) has a net profit margin of -0.8%. The company is currently unprofitable.
Calumet, Inc. /DE (CLMT) generated $57 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Calumet, Inc. /DE (CLMT) reported earnings per share (EPS) of $-0.39 in its most recent fiscal year.
Calumet, Inc. /DE (CLMT) has a 5-year average gross margin of 7.4%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 3 years of financial data for Calumet, Inc. /DE (CLMT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Calumet, Inc. /DE (CLMT) has a book value per share of $-8.45, based on its most recent annual SEC filing.
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