{ "ok": true, "cik": "2013745", "ticker": "CLMT", "name": "Calumet, Inc. /DE", "filings": [ { "form": "8-K", "filed": "2026-09-15", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000119312526390825/0001193125-26-390825-index.htm" }, { "form": "8-K", "filed": "2026-09-01", "items": [ "1.01 Entry into a Material Definitive Agreement", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374526000029/0002013745-26-000029-index.htm" }, { "form": "10-Q", "filed": "2026-08-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374526000024/0002013745-26-000024-index.htm" }, { "form": "8-K", "filed": "2026-08-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374526000022/0002013745-26-000022-index.htm" }, { "form": "8-K", "filed": "2026-06-03", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000119312526255570/0001193125-26-255570-index.htm" }, { "form": "10-Q", "filed": "2026-05-08", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374526000016/0002013745-26-000016-index.htm" } ], "events12m": 17, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0002013745.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2013745" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets, no buy or sell views.", "edgar": "🫧 Edgar looked up Calumet, Inc. /DE ($CLMT). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-09-15. 17 event filings (8-K) in the past twelve months. Non-reliance (8-K Item 4.02) filed 2025-11-07.", "auditor": { "changes": [], "nonReliance": [ { "filed": "2025-11-07", "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374525000015/0002013745-25-000015-index.htm" } ], "restatedSince": true }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 4137100000, "revenueGrowth1y": -0.012483887907576263, "revenueGrowthPerYear": -0.04068899523282132, "yearsOfData": 4, "operatingMargin": 0.026274443450726354, "operatingMarginPrior": 0.0019334510908483316, "netMargin": -0.008169974136472408, "operatingCashFlow": 108900000, "capitalSpending": 52300000, "freeCashFlow": 56600000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 125100000, "longTermDebt": 2233500000, "longTermDebtChange": 0.05438323183685023, "revenueHistory": [ { "fiscalYearEnd": "2022-12-31", "revenue": 4686300000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 4181000000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 4189400000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 4137100000 } ], "totalEquity": -732700000, "totalAssets": 2688900000, "equityRatio": -0.27249060954293575, "returnOnEquity": null, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "range80": { "low": 3202745015.5180035, "high": 4746731484.711518, "baseline": 4027090425.648187, "n": 4599, "band": "b1" }, "ifPaceHeld": { "low": 3202745015.5180035, "high": 4746731484.711518 } }, "edgarette": "🔖 Exposure: revenue $4.1B (FY2025), total debt $2.2B. Experience: revenue down 1.2% on the year, down 4.1% a year over 3 years; operating margin 2.6%, up from 0.2%. Soundness: equity -27.2% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $3.2B and $4.7B next year (method v3, set from 4,599 SEC company-years; on a year the method never saw, 83% landed inside). A range, not a forecast. Against peers (8 filers, $50M+ revenue, petroleum refining): operating margin 2.6% against a 2.7% median; growth -1.2% against -5.0%.", "peers": { "sic": 2911, "sicDescription": "Petroleum Refining", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2911", "growth": [ -0.0496, 13 ], "opMargin": [ 0.0272, 8 ], "equityRatio": [ 0.4066, 9 ], "returnOnEquity": [ 0.0886, 8 ] }, "summary": "Calumet (CLMT) saw revenue fall 1.2% in FY2025 to $4.1 billion, operating margin 2.6%, in line with the 2.7% median for petroleum refining, equity -27.2% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Calumet, Inc. /DE against its own record and its peers
Operating marginPeer median 2.7%2.6%Revenue, on the yearPeer median -5.0%-1.2%Equity of assetsPeer median 40.7%-27.2%Gold tick: the median of 9–9 peers with $50M+ revenue in petroleum refining
", "chartHorizon": null, "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T14:27:04.711Z", "hash": "a00dd6c676479c22", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Calumet (CLMT) saw revenue fall 1.2% in FY2025 to $4.1 billion, operating margin 2.6%, in line with the 2.7% median for petroleum refining, equity -27.2% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 4137100000, "totalDebt": 2233500000, "cash": 125100000 }, "experience": { "revenueGrowth1y": -0.012483887907576263, "revenueGrowthPerYear": -0.04068899523282132, "operatingMargin": 0.026274443450726354, "operatingMarginPrior": 0.0019334510908483316, "netMargin": -0.008169974136472408, "freeCashFlow": 56600000 }, "soundness": { "equityRatio": -0.27249060954293575, "returnOnEquity": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 2911, "sicDescription": "Petroleum Refining", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2911", "growth": [ -0.0496, 13 ], "opMargin": [ 0.0272, 8 ], "equityRatio": [ 0.4066, 9 ], "returnOnEquity": [ 0.0886, 8 ] }, "credibility": { "auditedYears": 4, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": { "filed": "2025-11-07", "url": "https://www.sec.gov/Archives/edgar/data/2013745/000201374525000015/0002013745-25-000015-index.htm", "restatedSince": true, "markedDown": false }, "auditorChange": null }, "range": { "low": 3202745015.5180035, "high": 4746731484.711518, "baseline": 4027090425.648187, "coverage": 0.8, "method": "v3", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); range = 10th to 90th percentile of how SEC company-years of the same size band actually turned out", "calibratedOn": { "companyYears": 4599, "sizeBand": "b1" }, "kind": "a calibrated range, not a forecast; no view on the share price", "track": { "backtest": { "tests": 0, "hits": 0, "rate": null, "method": "v3", "note": "hindsight: past years, same calibrated range. The range was calibrated on 2022-2024 SEC data, so years in that window are partly in-sample." }, "registry": { "logged": "2026-09-20T14:27:04.711Z", "hash": "a00dd6c676479c22", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0002013745.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2013745" } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same if-the-pace-held arithmetic applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so." } }