📊 CLMT Key Takeaways
Is Calumet, Inc. /DE (CLMT) a Good Investment?
Calumet exhibits severe financial distress with negative stockholders' equity of -$732.7M, indicating liabilities exceed assets. Despite positive operating cash flow, the company is unprofitable with negative net margin (-0.8%), razor-thin gross margins (5.9%), and deteriorating fundamentals characteristic of a highly leveraged refiner in a cyclical industry.
Calumet's fundamentals show a fragile improvement story: operating income and free cash flow are positive, and diluted EPS improved materially year over year, but profitability remains thin and net income is still negative. The balance sheet is the main concern, with negative stockholders' equity, heavy long-term debt, and only modest liquidity, which limits resilience if refining margins weaken or capital needs rise.
Why Buy Calumet, Inc. /DE Stock? CLMT Key Strengths
- Positive operating cash flow of $108.9M demonstrates ability to generate cash from operations
- Free cash flow of $56.6M provides some financial flexibility despite profitability challenges
- Current ratio of 1.02x indicates minimal near-term liquidity pressure despite weak quick ratio
- Positive operating cash flow and free cash flow indicate the business is currently generating cash
- Operating income remained positive despite a slight year-over-year revenue decline
- EPS improved significantly year over year, suggesting some earnings recovery
CLMT Stock Risks: Calumet, Inc. /DE Investment Risks
- Negative stockholders' equity of -$732.7M represents critical solvency risk and potential equity wipeout
- High debt burden of $2.2B long-term debt with inability to calculate meaningful interest coverage or debt ratios
- Unprofitable with net loss of $33.8M and negative net margin (-0.8%), combined with declining revenue (-1.2% YoY) suggests structural profitability challenges
- Extremely thin operating margins (2.6%) and gross margins (5.9%) leave minimal buffer for operational disruptions
- Heavy insider trading activity (16 Form 4 filings in 90 days) may reflect distress or uncertain outlook
- Negative stockholders' equity and high long-term debt point to a stressed capital structure
- Very thin gross and operating margins leave little buffer against margin compression or volume weakness
- Quick ratio below 1.0 and near-break-even current ratio indicate tight liquidity
Key Metrics to Watch
- Stockholders' equity trajectory and covenant compliance with lenders
- Operating margin recovery and gross margin sustainability
- Debt refinancing ability and liquidity runway with current leverage levels
- Free cash flow consistency relative to debt obligations
- Operating margin and net income trend across future filings
Calumet, Inc. /DE (CLMT) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The relatively thin 1.4% FCF margin may limit capital allocation flexibility.
CLMT Profit Margin, ROE & Profitability Analysis
CLMT vs Energy Sector: How Calumet, Inc. /DE Compares
How Calumet, Inc. /DE compares to Energy sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Calumet, Inc. /DE Stock Overvalued? CLMT Valuation Analysis 2026
Based on fundamental analysis, Calumet, Inc. /DE has mixed fundamental signals relative to the Energy sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Calumet, Inc. /DE Balance Sheet: CLMT Debt, Cash & Liquidity
CLMT Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Calumet, Inc. /DE's revenue has declined by 11% over the 5-year period, indicating business contraction. The most recent EPS of $-2.67 indicates the company is currently unprofitable.
CLMT Revenue Growth, EPS Growth & YoY Performance
CLMT Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $1.1B | $3.5M | $0.04 |
| Q2 2025 | $1.0B | -$39.1M | $-0.48 |
| Q1 2025 | $993.9M | -$41.6M | $-0.51 |
| Q3 2024 | $1.1B | $96.1M | $-1.18 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Calumet, Inc. /DE Dividends, Buybacks & Capital Allocation
CLMT SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Calumet, Inc. /DE (CIK: 0002013745)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Apr 2, 2026 | 4 | xslF345X06/form4-04022026_080423.xml | View → |
| Apr 2, 2026 | 4 | xslF345X06/form4-04022026_080421.xml | View → |
| Apr 2, 2026 | 4 | xslF345X06/form4-04022026_080445.xml | View → |
| Apr 2, 2026 | 4 | xslF345X06/form4-04022026_080412.xml | View → |
| Apr 2, 2026 | 4 | xslF345X06/form4-04022026_080439.xml | View → |
❓ Frequently Asked Questions about CLMT
What is the AI rating for CLMT?
Calumet, Inc. /DE (CLMT) has a Combined AI Rating of SELL from Claude (SELL) and ChatGPT (SELL) with 84% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are CLMT's key strengths?
Claude: Positive operating cash flow of $108.9M demonstrates ability to generate cash from operations. Free cash flow of $56.6M provides some financial flexibility despite profitability challenges. ChatGPT: Positive operating cash flow and free cash flow indicate the business is currently generating cash. Operating income remained positive despite a slight year-over-year revenue decline.
What are the risks of investing in CLMT?
Claude: Negative stockholders' equity of -$732.7M represents critical solvency risk and potential equity wipeout. High debt burden of $2.2B long-term debt with inability to calculate meaningful interest coverage or debt ratios. ChatGPT: Negative stockholders' equity and high long-term debt point to a stressed capital structure. Very thin gross and operating margins leave little buffer against margin compression or volume weakness.
What is CLMT's revenue and growth?
Calumet, Inc. /DE reported revenue of $4.1B.
Does CLMT pay dividends?
Calumet, Inc. /DE does not currently pay dividends.
Where can I find CLMT SEC filings?
Official SEC filings for Calumet, Inc. /DE (CIK: 0002013745) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is CLMT's EPS?
Calumet, Inc. /DE has a diluted EPS of $-0.39.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is CLMT a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Calumet, Inc. /DE has a SELL rating with 84% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is CLMT stock overvalued or undervalued?
Valuation metrics for CLMT: ROE of N/A (sector avg: 14%), net margin of -0.8% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy CLMT stock in 2026?
Our dual AI analysis gives Calumet, Inc. /DE a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is CLMT's free cash flow?
Calumet, Inc. /DE's operating cash flow is $108.9M, with capital expenditures of $52.3M. FCF margin is 1.4%.
How does CLMT compare to other Energy stocks?
Vs Energy sector averages: Net margin -0.8% (avg: 12%), ROE N/A (avg: 14%), current ratio 1.02 (avg: 1.3).