Calumet, Inc. (CLMT) Stock

Calumet, Inc. (CLMT) is a Energy stock trading at $48.33 (as of 2026-08-20), with a market capitalization of $4.25B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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Understand Calumet, Inc.: how it makes money

Calumet, Inc. manufactures and markets specialty branded products (including solvents, waxes, and lubricating oils) and processes renewable feedstocks into renewable hydrogen, renewable natural gas, renewable fuels, and related products, with revenue driven by selling those products to consumer-facing and industrial markets.

Calumet’s profit model combines two very different operating engines, specialty branded product manufacturing and renewable feedstock processing, so earnings depend on how each segment’s production and marketing economics perform.

Business quality (Weak): The provided facts include a total revenue figure and multiple segment-level operating metric candidates, but do not provide a clean, mutually exclusive segment revenue breakdown that can be verified to sum to the reported total revenue. Segments are therefore omitted.

Bull case

  • Diverse product mix across specialty products and renewables: The company manufactures and markets specialty branded products (solvents, waxes, customized lubricating oils, and other products) and also processes renewable feedstocks into multiple renewable outputs.
  • Montana Renewables is the dominant segment on the provided operating metric: In the provided dataset, the Montana Renewables segment has the largest adjusted earnings before interest, taxes, depreciation and amortization with tax attributes line item.

Bear case

  • Currently unprofitable at the company level: For the latest quarter provided (period ended 2026-03-31), gross margin is -8.5% and operating margin is -16.6%.
  • Segment-level support outside Montana Renewables appears limited in the provided dataset: The provided adjusted EBITDA and adjusted earnings metric figures for Specialty Products and Solutions and Performance Brands are much smaller than the Montana Renewables adjusted earnings metric.
Valuation — source: SEC EDGAR (first-party)
Price$48.33
Market Cap$4.25B
EV / EBITDA35.2
Price / Sales0.93
FCF Yield2.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$4.14B
Net Margin-0.8%
Revenue Growth (YoY)40.8%
EPS Growth (YoY)-35.9%
FCF Growth (YoY)-207.8%
Financial Health — source: SEC EDGAR
Altman Z-Score1.60 (distress)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Energy)16.8
Industry P/E (Petroleum & Natural Gas)16.7
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderTwo Seas Capital LP ($213.97M)
Institutional Holders Tracked10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEOLouis Todd Borgmann
Employees1,620
CountryUS
IPO Date2006-01-26

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CLMT earnings history · CLMT institutional & insider holders · CLMT KPIs & operating metrics · CLMT financials · CLMT investor presentations & press releases · CLMT SEC filings · CLMT peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.