Valuation, from the filing
| Public float | $1.40B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $16.13 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 0.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
How this compares in its industry
Percentile among the Petroleum Refining filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| CapEx / revenue | 1.3% | 0th | |
| SBC / revenue | -0.1% | 0th | |
| Net margin | -0.8% | 8th | |
| Current ratio | 1.02x | 8th | |
| Revenue YoY growth | -1.2% | 77th | |
| FCF margin | 1.4% | 60th | |
| Gross margin | 5.9% | 40th | |
| Operating margin | 2.6% | 43th |
Calumet, Inc. /DE (CLMT) reported revenue of $4.14B and net income of -$33.80M for the fiscal year ended 2025-12-31. This page shows 4 annual periods of income statement, balance sheet and cash flow figures normalized from Calumet, Inc. /DE’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Petroleum Refining.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Revenue | $4.14B | $4.19B | $4.18B | $4.69B |
| Cost of revenue | $3.89B | $3.96B | $3.73B | $4.33B |
| Gross profit | $245.70M | $230.80M | $451.70M | $351.70M |
| Operating income | $108.70M | $8.10M | $267.20M | $131.90M |
| Net income | -$33.80M | -$222.00M | $48.10M | -$173.30M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 86.76M | shares 83.15M | shares 80.08M | shares 79.34M |
| Pretax income | -$126.40M | -$221.20M | $49.70M | -$169.90M |
| Income tax expense | -$92.60M | $800.00K | $1.60M | $3.40M |
| Diluted EPS | $-0.39 | $-2.67 | Unavailable | Unavailable |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $123.80M | $145.50M | $133.00M | $143.40M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash & equivalents | $125.10M | $38.10M | $7.90M | $35.20M |
| Total assets | $2.69B | $2.76B | $2.75B | Unavailable |
| Current assets | $857.80M | $766.00M | $794.70M | Unavailable |
| Total liabilities | $3.18B | $3.22B | $3.00B | Unavailable |
| Current liabilities | $840.70M | $863.60M | $1.11B | Unavailable |
| Total equity incl. NCI | -$732.70M | -$711.90M | -$490.30M | -$533.30M |
| Temporary (mezzanine) equity | $245.60M | $245.60M | $245.60M | Unavailable |
| Inventory | $385.20M | $416.30M | $439.40M | Unavailable |
| Accounts receivable | $232.50M | $278.10M | $252.40M | $244.70M |
| Goodwill | $140.50M | $173.00M | $173.00M | $173.00M |
| Long-term debt | $2.08B | $2.06B | $1.83B | Unavailable |
| Accounts payable | $281.50M | $320.80M | $322.00M | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Operating cash flow | $108.90M | -$46.40M | -$14.90M | $100.60M |
| Capital expenditures | $52.30M | $76.70M | $271.80M | $536.20M |
| Investing cash flow | $44.10M | -$76.70M | -$271.80M | -$536.00M |
| Financing cash flow | $6.20M | $154.30M | $266.20M | $348.70M |
| Net change in cash | $159.20M | $31.20M | -$20.50M | -$86.70M |
| Stock-based compensation | -$4.50M | $14.60M | $14.70M | $17.30M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $148.80M | $149.00M | $146.80M | $98.30M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Free cash flow | $56.60M | -$123.10M | -$286.70M | -$435.60M |
| Gross margin | 5.9% | 5.5% | 10.8% | 7.5% |
| Operating margin | 2.6% | 0.2% | 6.4% | 2.8% |
| FCF margin | 1.4% | -2.9% | -6.9% | -9.3% |
| SBC / revenue | -0.1% | 0.3% | 0.4% | 0.4% |
| Current ratio | 1.02x | 0.89x | 0.71x | Unavailable |
| Revenue YoY growth | -1.2% | 0.2% | -10.8% | Unavailable |
| Net margin | -0.8% | -5.3% | 1.2% | -3.7% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 1.3% | 1.8% | 6.5% | 11.4% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | 3.2% | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open CLMT in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.