Calumet (CLMT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Calumet

NasdaqGS•Basic Materials•Specialty Chemicals

$58.01+0.46(0.01%)Pre-market

Market Cap

$5.17B

P/S

1.1x

Calumet, Inc. manufactures, formulates, and markets a slate of specialty branded products and renewable fuels in North America and internationally. It operates through Specialty Products and Solutions; Performance Brands; and Montana/Renewables segments. The Specialty Products and Solutions segment manufactures and markets various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. The Montana/Renewables segment processes geographically advantaged renewable feedstocks into renewable diesel, aviation fuel, and renewable naphtha. This segment also engages in the process of Canadian crude oil into conventional gasoline, diesel, jet fuel, and specialty grades of asphalt. The Performance Brands segment blends, packages, and markets high performance products through Royal Purple, Bel-Ray, and TruFuel brands. It serves wholesale distributors and retail chains. Calumet, Inc. was founded in 1919 and is headquartered in Indianapolis, Indiana.

How this company scores

WeakMetricSide Score: 44/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Profitability (13/25); weakest: Balance Sheet & Red Flags (8/25).

Profitability13/25

Growth11/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality12/25

Strengths

Profit converts from growthImproving margins

Grade capped at D

Negative equity — the balance sheet is insolvent.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 1.1x5y range 0.2x – 1.1x

Currently above its 6-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $5.17B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $4.59B
Q. Revenue: $1.45B
TTM EBITDA: $179.80M
TTM Op. Income: $47.10M
Q. Op. Income: $-40.00M
TTM Net Income: $-136.80M
Q. Net Income: $-95.90M
EPS: $-1.09
Shares Out.: $87.59M

$4.59B in TTM revenue declined 9.6% YoY, reaching $1.45B last quarter. TTM EBITDA of $179.80M and TTM operating income of $47.10M show growth is flowing through to the bottom line. However, net income is negative at $136.80M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 1.3%
EBITDA Margin: 0.4%
Op. Margin: -2.8%
Net Margin: -6.6%

Op. margin of -2.8% is up 7.1% YoY — cost efficiency is improving. Net margin at -6.6% and gross margin of 1.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 72% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.1x
P/B Ratio: N/A

P/S of 1.1x and P/B of 0.0x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.80B
Cash: $109.80M
Long-Term Debt: $2.23B
Book Value: $-1.14B
D/E Ratio: N/A
Debt/EBITDA: 404.6

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $92.30M
TTM Free Cash Flow: $150.40M
FCF Margin: 3.3%
FCF / Net Income: -1.1

TTM FCF of $150.40M on $92.30M in operating cash flow. The FCF / Net Income ratio of -1.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 5 consecutive quarters — an improving trend.