(CLMT) Calumet Specialty Products - Overview
Stock: Solvents, Waxes, Lubricants, Renewable Diesel, Aviation Fuel
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 33.7% |
| Relative Tail Risk | -10.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.72 |
| Alpha | 27.96 |
| Character TTM | |
|---|---|
| Beta | 1.419 |
| Beta Downside | 2.475 |
| Drawdowns 3y | |
|---|---|
| Max DD | 61.87% |
| CAGR/Max DD | 0.16 |
Description: CLMT Calumet Specialty Products January 15, 2026
Calumet Specialty Products Partners (NASDAQ: CLMT) is a century-old refiners’ and specialty chemicals company that produces branded specialty chemicals and renewable fuels for North American and international markets.
The business is organized into three segments: Specialty Products & Solutions (solvents, waxes, custom lubricants, white oils, gels, esters, etc.), Montana/Renewables (renewable diesel, sustainable aviation fuel, renewable hydrogen, renewable natural gas, propane, naphtha, plus conventional fuels from Canadian crude), and Performance Brands (high-performance aftermarket products sold under Royal Purple, Bel-Ray, and TruFuel). The company sells primarily through wholesale distributors and retail chains.
Key recent data points: Q4 2023 revenue was $2.1 billion, with adjusted EBITDA margin of ~14%; the Montana/Renewables segment now runs ~300 k bpd of renewable-fuel capacity, positioning it to capture growth from the U.S. Renewable Fuel Standard and the emerging Sustainable Aviation Fuel mandate. A primary sector driver is the accelerating policy-backed demand for low-carbon fuels, which is expected to raise renewable-fuel utilization rates by 6-8 percentage points annually through 2028.
For a deeper quantitative view, you might explore ValueRay’s analyst toolkit to model CLMT’s exposure to these renewable-fuel trends.
Piotroski VR‑10 (Strict, 0-10) 0.0
| Net Income: -37.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA -3.97 > 1.0 |
| NWC/Revenue: 2.56% < 20% (prev -10.69%; Δ 13.26% < -1%) |
| CFO/TA -0.00 > 3% & CFO -11.0m > Net Income -37.2m |
| Net Debt (2.21b) to EBITDA (208.1m): 10.61 < 3 |
| Current Ratio: 1.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (86.7m) vs 12m ago 1.38% < -2% |
| Gross Margin: 8.21% > 18% (prev 0.04%; Δ 817.3% > 0.5%) |
| Asset Turnover: 150.7% > 50% (prev 164.6%; Δ -13.91% > 0%) |
| Interest Coverage Ratio: 0.65 > 6 (EBITDA TTM 208.1m / Interest Expense TTM 226.4m) |
Altman Z'' -1.72
| A: 0.04 (Total Current Assets 880.1m - Total Current Liabilities 776.3m) / Total Assets 2.73b |
| B: -0.56 (Retained Earnings -1.54b / Total Assets 2.73b) |
| C: 0.06 (EBIT TTM 147.8m / Avg Total Assets 2.69b) |
| D: -0.48 (Book Value of Equity -1.53b / Total Liabilities 3.18b) |
| Altman-Z'' Score: -1.72 = D |
Beneish M -3.50
| DSRI: 0.98 (Receivables 278.7m/305.6m, Revenue 4.05b/4.34b) |
| GMI: 0.43 (GM 8.21% / 3.56%) |
| AQI: 1.20 (AQ_t 0.18 / AQ_t-1 0.15) |
| SGI: 0.93 (Revenue 4.05b / 4.34b) |
| TATA: -0.01 (NI -37.2m - CFO -11.0m) / TA 2.73b) |
| Beneish M-Score: -3.50 (Cap -4..+1) = AA |
What is the price of CLMT shares?
Over the past week, the price has changed by +7.39%, over one month by +13.20%, over three months by +14.76% and over the past year by +33.04%.
Is CLMT a buy, sell or hold?
- StrongBuy: 2
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CLMT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 21.5 | -4.2% |
| Analysts Target Price | 21.5 | -4.2% |
| ValueRay Target Price | 24.7 | 10.2% |
CLMT Fundamental Data Overview January 27, 2026
P/S = 0.4527
P/B = 19.3228
P/EG = 2.71
Revenue TTM = 4.05b USD
EBIT TTM = 147.8m USD
EBITDA TTM = 208.1m USD
Long Term Debt = 2.15b USD (from longTermDebt, last quarter)
Short Term Debt = 155.2m USD (from shortTermDebt, last quarter)
Debt = 2.30b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.21b USD (from netDebt column, last quarter)
Enterprise Value = 4.04b USD (1.83b + Debt 2.30b - CCE 94.6m)
Interest Coverage Ratio = 0.65 (Ebit TTM 147.8m / Interest Expense TTM 226.4m)
EV/FCF = -53.45x (Enterprise Value 4.04b / FCF TTM -75.6m)
FCF Yield = -1.87% (FCF TTM -75.6m / Enterprise Value 4.04b)
FCF Margin = -1.87% (FCF TTM -75.6m / Revenue TTM 4.05b)
Net Margin = -0.92% (Net Income TTM -37.2m / Revenue TTM 4.05b)
Gross Margin = 8.21% ((Revenue TTM 4.05b - Cost of Revenue TTM 3.72b) / Revenue TTM)
Gross Margin QoQ = 34.67% (prev -4.25%)
Tobins Q-Ratio = 1.48 (Enterprise Value 4.04b / Total Assets 2.73b)
Interest Expense / Debt = 2.33% (Interest Expense 53.6m / Debt 2.30b)
Taxrate = 21.0% (US default 21%)
NOPAT = 116.8m (EBIT 147.8m * (1 - 21.00%))
Current Ratio = 1.13 (Total Current Assets 880.1m / Total Current Liabilities 776.3m)
Debt / Equity = -3.31 (negative equity) (Debt 2.30b / totalStockholderEquity, last quarter -695.3m)
Debt / EBITDA = 10.61 (Net Debt 2.21b / EBITDA 208.1m)
Debt / FCF = -29.21 (negative FCF - burning cash) (Net Debt 2.21b / FCF TTM -75.6m)
Total Stockholder Equity = -820.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -1.38% (Net Income -37.2m / Total Assets 2.73b)
RoE = 4.54% (negative equity) (Net Income TTM -37.2m / Total Stockholder Equity -820.0m)
RoCE = 11.13% (EBIT 147.8m / Capital Employed (Equity -820.0m + L.T.Debt 2.15b))
RoIC = 8.06% (NOPAT 116.8m / Invested Capital 1.45b)
WACC = 5.96% (E(1.83b)/V(4.14b) * Re(11.14%) + D(2.30b)/V(4.14b) * Rd(2.33%) * (1-Tc(0.21)))
Discount Rate = 11.14% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 4.00%
Fair Price DCF = unknown (Cash Flow -75.6m)
EPS Correlation: 7.76 | EPS CAGR: 28.81% | SUE: 0.16 | # QB: 0
Revenue Correlation: -43.48 | Revenue CAGR: -0.52% | SUE: 0.40 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.07 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=0.03 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+120.0% | Growth Revenue=+1.4%