Is the business good?
How good a business is CLMT?
Calumet, Inc. earns −0.95% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−0.95%
Return on invested capital · cost of capital 9.0% · 10.0 points below what the capital costs: growth destroys value
- Operating margin
- −0.33%
Operating margin · Specialty Chemicals median 9.1% · 12 months to Q1 2026
- Share count, year on year
- +0.66%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 5.7%
Gross margin
| Year | Operating margin |
|---|---|
| FY2022 | 2.8% |
| FY2023 | 6.4% |
| FY2024 | 0.19% |
| FY2025 | 2.6% |
Details›
- Gross margin12 months to Q1 2026
- 5.7%
- Operating margin12 months to Q1 2026
- −0.33%
- Net margin12 months to Q1 2026
- −4.5%
- Free cash flow margin
- −0.39%
- Revenue, trailing twelve months
- $4.17B
- Free cash flow, trailing twelve months
- −$16M
- Net income, trailing twelve months
- −$189M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −0.95%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Specialty Chemicals
Ranks #32 of 36 by Smart Score