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Calumet, Inc. key statistics and ratios

In fiscal 2025, Calumet, Inc. had an operating margin of 2.6% and a current ratio of 1.02. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin7.5%10.8%5.5%5.9%6.6%
Operating margin2.8%6.4%0.2%2.6%1.0%
Net margin−3.7%1.2%−5.3%−0.8%−3.0%
Free-cash-flow margin−9.3%−6.9%−2.9%1.4%1.3%
Return on assets—1.7%−8.1%−1.2%−5.0%
Asset turnover—1.521.521.521.67
Current ratio—0.710.891.020.84
Interest cover (operating income ÷ interest)0.7x1.2x0.0x0.5x0.2x
Effective tax rate—3.2%———
Capital spending as % of revenue11.4%6.5%1.8%1.3%1.9%
Free cash flow ÷ net income—−596.0%———

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 5 checks passed · June 30, 2026
What it owns · $2.8bn
Short-term assets $1.0bnLonger-term assets $1.8bn
What it owes, and who funded it · $3.7bn
Short-term liabilities $1.2bnLonger-term liabilities $2.5bnShareholders' equity $-1.1bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $1.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $2.5bn of longer-dated liabilities.
  • More cash than debt $110m of cash against $2.2bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $146m of operating cash flow against $2.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of $47m against $208m of interest.

From Calumet, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Calumet, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Calumet, Inc.