Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026
Basics
Sector
Basic Materials
Industry
Specialty Chemicals
Country
United States
Market cap
4.2B USD
Enterprise value
7.2B USD
Full-time employees
1,540
Overall health
Drawback:less profitable than most peersless profitable than peers
Drawback:its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback:higher risk than most peers: less short-term liquidity (current ratio 0.84 vs a peer median of 1.76)higher risk: less liquidity (current ratio 0.84 vs peers 1.76)
About average: growth
Ranks #1,072 of 1,217 basic materials companies (bottom 12%)
Profit lifted by an asset sale. 2025 operating profit includes a $56M gain on selling assets; without it the operating margin was about 1.3%.
Calumet's 2025 operating profit of $109M includes a one-off $56M gain on selling assets or businesses. Without it, operations would have earned $53M, an operating margin of about 1.3%.
Negative shareholders' equity. Liabilities exceed assets on the balance sheet.
Calumet's liabilities exceed its assets on the balance sheet. Large share buybacks can cause this in healthy companies, but so can accumulated losses; either way, debt-based ratios need care.
Valuation signals disagree. Cheaper than 45% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Calumet looks cheaper than 45% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Calumet reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 22 → 23
Peer companies moved+1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-3.3%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364
EBITDA yield3.0%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -1.07Sector median: 0.0854 · MAD: 0.0520
Free cash flow yield1.8%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.32Sector median: 0.0261 · MAD: 0.0261
Revenue and earnings-per-share growth over one year, and revenue growth over three years.
Earnings per share growthUnavailable
Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.0941 · MAD: 0.3300
3-year revenue growth-4.1%
Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported value33% base weight · Z-score -0.55Sector median: -0.0005 · MAD: 0.0725
Revenue growth12.8%
SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.99Sector median: 0.0335 · MAD: 0.0952
Shareholders' equity is negative, so debt/equity counts as among the highest in its peer group33% base weight · Z-score -4.82Sector median: 0.3578 · MAD: 0.2929
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Calumet
Is Calumet getting weaker?
Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is 25/100, up 1 since Oct 28, 2026.
How is Calumet valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 1,371 basic materials peers.Earnings yield -3.3% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -3.3% vs peers 3.6% (weaker than 100% of peers).
Is Calumet growing?
At about the same pace as its peers. Growth scores 57/100 against 1,371 basic materials peers.Revenue growth 12.8% vs a peer median of 3.4% (stronger than 73% of peers).Revenue growth 12.8% vs peers 3.4% (stronger than 73% of peers).3-year revenue growth -4.1% vs a peer median of -0.0% (weaker than 66% of peers).3-year revenue growth -4.1% vs peers -0.0% (weaker than 66% of peers).
How profitable is Calumet?
Less profitable than most of its peers. Profitability scores 15/100 against 1,371 basic materials peers.Return on assets -4.9% vs a peer median of 2.5% (weaker than 92% of peers).Return on assets -4.9% vs peers 2.5% (weaker than 92% of peers).
How risky is Calumet?
Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings.Current ratio 0.84× vs a peer median of 1.76× (weaker than 89% of peers).Current ratio 0.84× vs peers 1.76× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Worth watching: Calumet is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
4.2B USD
4.6B USD
+10.0%
Net income (12 months)
−188.8M USD
−136.8M USD
−27.5%
Operating margin
-0.3%
1.0%
+1.4 pts
Free cash flow (12 months)
4.1M USD
73.5M USD
+1692.7%
Debt
2.3B USD
2.3B USD
−3.1%
Cash
138.6M USD
109.8M USD
−20.8%
Shares outstanding
87.1M
87.9M
+0.9%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Specialty Chemicals · 32 companies
Valuations in Specialty Chemicals are above their usual range since 2016.
74% of months since 2016 were valued lower than now.
17% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +13% (medians): earnings grew faster than prices.
Median price-to-sales is −36% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
7.5%
10.8%
5.5%
5.9%
▲ 0.4 pts
Operating margin
2.8%
6.4%
0.2%
2.6%
▲ 2.4 pts
Net margin
-3.7%
1.2%
-5.3%
-0.8%
▲ 4.5 pts
Return on assets (ROA)
—
1.7%
-8.0%
-1.3%
▲ 6.8 pts
Free cash flow margin
-9.3%
-6.9%
-2.9%
1.4%
▲ 4.3 pts
Current ratio
—
0.71×
0.89×
1.02×
▲ 15%
Quick ratio
—
0.32×
0.40×
0.56×
▲ 39%
Interest coverage
0.75×
1.21×
0.03×
0.50×
▲ >999%
CLMT price history
Price history is added with the daily price update and will appear after the next one.