CLMT
Calumet, Inc. /de Energy Petroleum Refining Russell 3000
$49.65Close
$4.3BMarket cap
$18.22 – $59.0552-week range
Nov 6, 2026Next report · before the open
Highlights
Strengths
- Leading the market RS 96 · stronger than 96% of stocks over 12 months
Cautions
- Trend not confirmed 7 of 8 conditions · under the 50-day
- Results soon Nov 6, 2026, in 5 days
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
16%
1wk
up 0.7%
price change
1mo
down 5.2%
price change
12-month return
up 156%
market up 11% ·
its own up 144%
F-score
5 / 9
Mixed
Altman Z
1.67
Elevated risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
—
price / book
Earnings yield
up 1.7%
EBIT / enterprise value
Cheaper than
32%
of the market · expensive
Revenue growth
down 1%
year on year
EPS growth
—
latest quarter
Sales growth
up 41%
latest quarter · +37 pts
ROE
—
return on equity
Free cash margin
up 1%
$56.6M FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
7.6×
Interest cover
—EBIT / interest
Piotroski tests
- not yet profitable on its assets
- took on more long-term debt
- issued more shares
- assets working less efficiently
- generating cash from operations
- profitability improving
- profits backed by cash
- short-term liquidity improved
- gross margin widened
Repair signals
- FCF turned positive ($-123M → $57M)
Trade setup
ATR%
5.3%
$2.61 a day · 2×ATR $44.42
RS
96 / 99
vs the universe
Trend
7 / 8
under the 50-day
Relative volume
0.9×
vs 50-day average
Up/down volume
1.06
50 sessions
Implied move
—
no option chain · report Nov 6, 2026
Trend template · 7 of 8
- Price above the 50-day average: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- Accounts declared unreliable The company told the SEC that previously issued financial statements should no longer be relied upon. Every figure on this page that predates that filing is drawn from statements the company itself has withdrawn.
- Liabilities exceed assets Shareholders' equity is negative at -$732.7M as of Dec 31, 2025. What is left for shareholders after creditors is, on the balance sheet, less than nothing.
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Heavily indebted Net debt is 7.6 times EBITDA — roughly 8 years of earnings before interest, tax and depreciation to repay borrowings in full.
- Revenue shrinking Revenue fell 1.2% over the year, from $4.2B to $4.1B.
Last reported
Aug 7, 2026
Results reaction
Aug 7, 2026+8% vs market2 sessions after results
Financials
- Gross 6%
- Net -1%
- Free cash 1%
- Cash
- Long-term debt
| FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|
| Revenue | $4.7B | $4.2B | $4.2B | $4.1B |
| Gross margin | 8% | 11% | 6% | 6% |
| Operating income | $131.9M | $267.2M | $8.1M | $108.7M |
| Net income | -$173.3M | $48.1M | -$222.0M | -$33.8M |
| Net margin | -4% | 1% | -5% | -1% |
| Earnings per share | -$2.18 | $0.60 | -$2.67 | -$0.39 |
| Free cash flow | -$435.6M | -$286.7M | -$123.1M | $56.6M |
| Free cash margin | -9% | -7% | -3% | 1% |
| Cash | $35.2M | $7.9M | $38.1M | $125.1M |
| Long-term debt | — | $1.8B | $2.1B | $2.1B |
| Shareholders' equity | -$533.3M | -$490.3M | -$711.9M | -$732.7M |
| Shares outstanding | — | 79.97m | 85.95m | 86.78m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Aug 7, 2026 | Quarterly ↗ | Jun 30, 2026 | 38d |
| May 8, 2026 | Quarterly ↗ | Mar 31, 2026 | 38d |
| Feb 27, 2026 | Annual ↗ | Dec 31, 2025 | 58d |
| Nov 10, 2025 | Quarterly ↗ | Sep 30, 2025 | 41d |
| Aug 8, 2025 | Quarterly ↗ | Jun 30, 2025 | 39d |
| May 12, 2025 | Quarterly ↗ | Mar 31, 2025 | 42d |
| Mar 3, 2025 | Annual ↗ | Dec 31, 2024 | 62d |
| Nov 12, 2024 | Quarterly ↗ | Sep 30, 2024 | 43d |
| Aug 9, 2024 | Quarterly ↗ | Jun 30, 2024 | 40d |
Current reports
| Filed | Disclosed |
|---|---|
| Sep 15, 2026 | Material agreement · New obligation ↗ |
| Sep 1, 2026 | Material agreement · Regulation FD ↗ |
| Aug 7, 2026 | Results ↗ |
| Jun 3, 2026 | Shareholder vote ↗ |
| May 8, 2026 | Results ↗ |
| Mar 25, 2026 | Director or officer change · Regulation FD ↗ |
| Mar 17, 2026 | Material agreement · New obligation · Regulation FD ↗ |
| Mar 13, 2026 | Material agreement · Other events ↗ |
| Mar 12, 2026 | Regulation FD · Other events ↗ |
| Feb 27, 2026 | Results ↗ |
| Jan 29, 2026 | Material agreement · New obligation ↗ |
| Jan 12, 2026 | Material agreement · New obligation · Regulation FD ↗ |