Calumet, Inc.
$37.37
+0.13%Calumet, Inc. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products. The company's Montana/Renewables segment focuses on processing renewable feedstocks into renewable hydrogen, renewable natural gas, renewable propane, renewable naphtha, renewable kerosene/aviation fuel, and renewable diesel. This segment also processes Canadian crude oil into conventional gasoline, diesel, jet fuel, and specialty grades of asphalt. Its Performance Brands segment blends, packages, and markets high performance products through Royal Purple, Bel-Ray, and TruFuel brands. Calumet GP, LLC serves as the general partner for Calumet Specialty Products Partners, L.P. The company was founded in 1916 and is headquartered in Indianapolis, Indiana.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -95.8).
Valuation inputs: P/E -95.8, earnings yield N/A, momentum +0.1%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +4.6%, ROIC +0.7%).
Profitability stack: net margin -0.8%, ROE +4.6%, ROIC +0.7%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +118.1%, momentum +0.1%, net margin -0.8%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Calumet, Inc. Market vs Earnings Trajectory
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Calumet, Inc. Fair Value Envelope
Calumet, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Thin margins leave little room for error. Cost management and pricing strategy are critical.
Operating Margin
Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Non-operating losses: Core business is profitable but other expenses (interest, taxes, one-time items) are driving net losses. Review capital structure and non-operating items.
Calumet, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Capital-intensive operations require significant reinvestment. Monitor whether CapEx is maintenance or growth-oriented.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Calumet, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Warning: Liquidity concerns. Current assets may not be sufficient to cover short-term obligations.
Working Capital
Negative working capital indicates short-term liabilities exceed short-term assets—potential liquidity stress.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Calumet, Inc. Street Expectations Map
Wall Street analysts project that CLMT stock may decline over the coming 12 months. The consensus 1-year price target stands at 31.00, with estimates ranging from a low of 26.00 to a high of 36.00.
The consensus 1-year price target stands at 31.00, with estimates ranging from a low of 26.00 to a high of 36.00.
Analyst Consensus Analysis
Upside Potential
Significant downside risk. Stock trading well above analyst consensus suggests elevated valuation concerns and potential correction.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Risk-Reward Profile
Unfavorable risk-reward. Downside risk exceeds upside potential. Consider defensive positioning or alternative opportunities.
Analyst Conviction
Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
Calumet, Inc. Insider Positioning
During the last 12 months, insiders have sold $24.66M worth of CLMT shares, with no buying activity reported.
3 Months
0
0.00
630.3K
20.51M
-20.5M
-$20.51M
3-6 Months
0
0.00
0
0.00
+0
+$0
6-9 Months
0
0.00
0
0.00
+0
+$0
9-12 Months
0
0.00
277.1K
4.14M
-4.1M
-$4.14M
Top Buyers
No buying activity
Top Sellers
Heritage Group
10 Percent Owner, Other: 13(D) 10% Group Member
$20.40M
Straumins Jennifer
Director
$3.69M
Morical Gregory J
Officer: Svp, General Counsel
$419K
Sajkowski Daniel J
Director
$146K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $24.66M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
4 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
clmt Dividend History
Learning Layer
Related Guides
Build conviction on CLMT by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.