CLMTCalumet, Inc.
Is it safe?
Elevated bankruptcy risk: a balance sheet under strain, heavy debt (CCC), and big price swings. Everything else is secondary until this clears.
Elevated financial-distress risk Altman Z-score, a bankruptcy-risk model from five balance-sheet ratios.
Reported earnings show no manipulation flags Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
No notable insider trading in the 90 days ending 2026-10-08. SEC Form 4 filings: officers and directors must report their own trades within two business days.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -90% · now 4% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CLMT take a bad year?
Calumet, Inc. carries $2.15B of net debt at 9.37× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 9.37×
Net debt / EBITDA · 359× a year ago · the load is coming down
- Altman Z-score
- 1.38
Altman Z-score · distress zone, below 1.8
- Interest cover
- 0.23×
Interest cover · operating profit does not cover the interest bill
Details›
- Total debtQ2 2026
- $2.26B
- Cash and short-term investments
- $110M
- Net debt
- $2.15B
- EBITDA, trailing twelve months
- $229M
- Operating profit, trailing twelve months
- $47M
- Total debt / EBITDA
- 9.85×
- Annualised volatilitytwo years of daily moves
- 56%
- Worst drawdown on file
- −90%
- Below its 52-week high
- 4.4%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Specialty Chemicals
Ranks #31 of 33 by RyuScore