Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Calumet, Inc. /DE files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2024
FY2024
FY2025
Revenue
4,686
4,181
4,189
4,137
Cost of revenue
4,335
3,729
3,959
3,891
Gross profit
352
452
231
246
General and administrative
143
133
146
124
Operating income
132
267
8.1
109
Interest expense
176
222
237
216
Other non-operating income
-302
-218
-229
-235
Pre-tax income
-170
49.7
-221
-126
Income tax
3.4
1.6
0.8
-92.6
Income from continuing operations
-173
48.1
-222
-33.8
Net income
-173
48.1
-222
-33.8
EBITDA
230
414
157
258
EPS, basic
-2.67
-0.39
EPS, diluted
-2.67
-0.39
Shares, basic (weighted)
79.3
80.1
83.1
86.8
Shares, diluted (weighted)
79.3
80.1
83.1
86.8
Balance sheet
FY2022
FY2024
FY2024
FY2025
Cash and equivalents
35.2
7.9
38.1
125
Receivables
286
278
233
Inventory
439
416
385
Other current assets
51.6
25.7
28.3
Total current assets
795
766
858
Property, plant and equipment
1,482
1,506
1,439
1,353
Lease right-of-use assets
114
240
224
Goodwill
173
173
173
141
Intangible assets
28.5
22
8.7
Other non-current assets
134
118
478
Total assets
2,751
2,758
2,689
Accounts payable
322
321
282
Accrued liabilities
87.1
94.7
84.6
Short-term debt
55.7
35.5
156
Total current liabilities
1,113
864
841
Long-term debt
1,830
2,065
2,077
Lease liabilities
39
182
161
Other non-current liabilities
10.4
110
258
Total liabilities
2,996
3,225
3,176
Total debt
1,885
2,118
2,234
Paid-in capital
1,499
825
839
Retained earnings
-1,983
-1,539
-1,573
Other comprehensive income
-7.2
-7
-6.8
Shareholders' equity
-533
-490
-712
-733
Total equity
-533
-490
-712
-733
Total liabilities and equity
2,751
2,758
2,689
Shares outstanding
80
86
86.8
Cash flow statement
FY2022
FY2024
FY2024
FY2025
Net income
-173
48.1
-222
-33.8
Depreciation and amortization
98.3
147
149
149
Stock-based compensation
17.3
14.7
14.6
-4.5
Deferred income tax
0.5
-0.1
-0.4
-7.9
Change in receivables
-14.1
-19.2
8
47
Change in inventory
-191
25.1
16.1
14.9
Change in payables
56.9
-12.4
1.7
-52.2
Cash from operations
101
-14.9
-46.4
109
Capital expenditures
-536
-272
-76.7
-52.3
Purchases of investments
0
0
-0.5
Cash from investing
-536
-272
-76.7
44.1
Debt issued
325
325
554
100
Cash from financing
349
266
154
6.2
Net change in cash
-86.7
-20.5
31.2
159
Free cash flow
-436
-287
-123
56.6
Interest paid
151
202
232
172
Income taxes paid
0.5
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $34.73 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
9.1%
Gross profit / revenue.
Operating margin
3.4%
Operating income / revenue.
EBITDA margin
6.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-5.7%
Pre-tax income / revenue.
Net margin
-3.7%
Net income / revenue.
FCF margin
5.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
6.6%
Cash from operations / revenue.
Return on assets (ROA)
-6.5%
Net income / average total assets.
Stock-based pay / revenue
1.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.5%
Capital expenditures / revenue.
D&A / revenue
3.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-1.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-4.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
6.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-11.3%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y
1,242.0%
Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y
-6.2%
Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y
63.9%
EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y
3.8%
Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 3y
2.7%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-2.5%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
4.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
3.0%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.06x
Current assets / current liabilities.
Quick ratio
0.59x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.19x
(Cash + short-term investments) / current liabilities.
Debt / assets
72.5%
Total debt / total assets.
Liabilities / assets
120.1%
Total liabilities / total assets.
Net debt
$1.95B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
5.78x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage
0.87x
Operating income / interest expense.
Working capital
$73.9M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
1.74x
Revenue / average total assets.
Fixed asset turnover
4.00x
Revenue / average property, plant and equipment.
Inventory turnover
10.00x
Cost of revenue / average inventory.
Days inventory
37 days
365 x average inventory / cost of revenue.
Receivables turnover
11.2x
Revenue / average receivables.
Days sales outstanding
33 days
365 x average receivables / revenue.
Days payables
33 days
365 x average accounts payable / cost of revenue.
Cash conversion cycle
36 days
Days inventory + days sales outstanding - days payables.
Capex / operating cash flow
22.3%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.20
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Market cap + total debt - cash - short-term investments.
P/S
0.59x
Market cap / revenue.
P/FCF
11.5x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
8.95x
Market cap / cash from operations, when positive.
EV/Sales
0.96x
Enterprise value / revenue.
EV/EBIT
28.1x
Enterprise value / operating income, when both are positive.
EV/EBITDA
14.8x
Enterprise value / EBITDA, when both are positive.
EV/FCF
18.9x
Enterprise value / free cash flow, when both are positive.
FCF yield
8.7%
Free cash flow / market cap.
Earnings yield
-6.3%
Net income / market cap (the inverse of P/E).
What was Calumet, Inc. /DE's revenue in fiscal 2025?
Calumet, Inc. /DE reported revenue of $4.14B for fiscal 2025, 1.2% lower than the year before.
Was Calumet, Inc. /DE profitable in fiscal 2025?
No. It reported a net loss of $33.8M.
How much free cash flow did Calumet, Inc. /DE generate in fiscal 2025?
Cash from operations of $108.9M minus capital expenditures of $52.3M left free cash flow of $56.6M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.