📊 CLMT Key Takeaways
Investment Thesis
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.
CLMT 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
CLMT 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
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
CLMT Financial Metrics
💡 AI Analyst Insight
The relatively thin 1.4% FCF margin may limit capital allocation flexibility.
CLMT Profitability Ratios
CLMT vs Energy Sector
How Calumet, Inc. /DE compares to Energy sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
CLMT Balance Sheet & Liquidity
CLMT 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 Growth Metrics (YoY)
CLMT Quarterly 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.
CLMT Capital Allocation
CLMT SEC Filings
Access official SEC EDGAR filings for Calumet, Inc. /DE (CIK: 0002013745)
📋 Recent SEC Filings
❓ Frequently Asked Questions about CLMT
What is the AI rating for CLMT?
Calumet, Inc. /DE (CLMT) has an AI rating of SELL with 85% confidence, based on fundamental analysis of SEC EDGAR filings.
What are CLMT's 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.
What are the risks of investing in CLMT?
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.
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?
Our AI (Claude) analyzes publicly available SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports to evaluate financial health, profitability ratios, balance sheet strength, and growth metrics.