CLMT
Calumet, Inc.
CLMT lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
CLMT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Healthy | |
| Weak |
CLMT's revenue and cash flow are currently healthy, but its profitability and balance sheet are under pressure.
CLMT PE Valuation
CLMT has no meaningful PE right now: it lost money over the past year.
CLMT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CLMT, with profitability improving. However, they disagree widely on these estimates.
CLMT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.59 | — |
| Q3 2026 | -$2.25 | -$1.81 |
| Q2 2026 | -$1.55 | +$3.68 |
| Q1 2026 | -$2.16 | +$1.85 |
| Q4 2025 | -$0.39 | +$2.26 |
| Q3 2025 | -$0.44 | +$2.32 |
| Q2 2025 | -$5.23 | -$4.91 |
| Q1 2025 | -$4.01 | -$3.94 |
| Q4 2024 | -$2.65 | -435% |
CLMT is still losing money, but far less than before: $2.25 per share over the past year, against $5.23 at its worst in mid-2025.
CLMT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +56% |
| Q2 2026 | $1.4B | +41% |
| Q1 2026 | $1B | +3.6% |
| Q4 2025 | $1B | +9.4% |
| Q3 2025 | $1.1B | -2% |
| Q2 2025 | $1B | -9.4% |
| Q1 2025 | $993.9M | -1.2% |
| Q4 2024 | $949.5M | -2.8% |
CLMT's revenue has grown year over year for four quarters in a row: $1.7B last quarter, up 56% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 27% | -3 points |
| Q2 2026 | -2.8% | +7.1 points |
| Q1 2026 | -17% | -12 points |
| Q4 2025 | -6.2% | -8.6 points |
| Q3 2025 | 30% | +35 points |
| Q2 2025 | -9.8% | -10 points |
| Q1 2025 | -4.9% | -8.5 points |
| Q4 2024 | 2.4% | +3.8 points |
CLMT's operating margin was 27% last quarter, down 3 points from the same quarter a year ago, near the top of its range since 2019.
CLMT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $206.7M | +$206.7M |
| Q2 2026 | $54M | +$74.8M |
| Q1 2026 | -$99.4M | -$52.5M |
| Q4 2025 | $103.8M | +$132.2M |
| Q2 2025 | -$20.8M | -140% |
| Q1 2025 | -$46.9M | +$67.1M |
| Q4 2024 | -$28.4M | +$10.6M |
| Q2 2024 | $51.5M | +$161.1M |
CLMT's free cash flow has turned positive after five years mostly in the red: $265M over the past year.
CLMT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +438K shares |
| 1 year | +1.3% | +1.1M shares |
| 3 years | +9.7% | +7.7M shares |
| 5 years | +11% | +9.1M shares |
| Available history | +12% | +9.7M shares |
CLMT has 88M diluted shares, up 1.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2024 | — |
CLMT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.6x | High |
| Q2 2026 | 9.7x | High |
| Q1 2026 | 13.5x | High |
| Q4 2025 | 7.1x | High |
| Q3 2025 | 5.6x | High |
| Q2 2025 | 359.2x | High |
| Q1 2025 | 17.9x | High |
| Q4 2024 | 10.0x | High |
CLMT's net debt is about 5.6 years of its operating earnings (EBITDA), about the same as a year ago.
CLMT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.8 | Neutral |
| Stochastic | 22.3 | Neutral |
CLMT's weekly RSI is 41 (neutral) and its Stochastic is 22 (neutral).
CLMT PE vs Energy Sector
| Metric | CLMT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
CLMT has no meaningful PE right now: it lost money over the past year.
CLMT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $49.8 | 27% below |
| 20 week MA | $47.8 | 24% below |
| 50 week MA | $36.1 | 1.1% above |
| 100 week MA | $26.1 | 40% above |
| 200 week MA | $21.6 | 69% above |
CLMT has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 69% above its 200-week average.
CLMT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.78 | $3.48 | -7.9% |
| 2021 | $3.48 | $12.9 | +272% |
| 2022 | $12.9 | $13.0 | +0.3% |
| 2023 | $13.0 | $17.9 | +38% |
| 2024 | $17.9 | $21.2 | +18% |
| 2025 | $21.2 | $19.7 | -7% |
| 2026 YTD | $19.7 | $36.5 | +85% |
CLMT has finished higher in four of the last six years. It's up 85% so far in 2026.