Calumet Specialty Products Partners (CLMT)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $4.9B, Calumet Specialty Products Partners's free cash flow of $57M (fiscal 2025) would need to grow about 24% a year for the stock to be worth today's price.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Calumet Specialty Products Partners's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from CLMT's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Calumet Specialty Products Partners's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $4.7B | $4.2B | $4.2B | $4.1B |
| Net income | -$173M | $48M | -$222M | -$34M |
| Free cash flow | -$436M | -$287M | -$123M | $57M |
| EPS (diluted) | — | — | -$2.67 | -$0.39 |
| Operating margin | 2.8% | 6.4% | 0.19% | 2.6% |
Where the revenue comes from
Revenue by segments, fiscal 2025. Every breakdown, year by year.
Superinvestors who own CLMT
From each investor's latest 13F filing (what a 13F shows). 2 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
New position | $2M | 0.00% | Q2 2026 |
| Jay Petschek Corsair Capital Management |
New position | $432,240 | 0.05% | Q2 2026 |
Insider buying
Open-market purchases by Calumet Specialty Products Partners's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
What growth does Calumet Specialty Products Partners's stock price imply?
At a market value of $4.9B, Calumet Specialty Products Partners would need its free cash flow to grow about 24% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price.
Are Calumet Specialty Products Partners insiders buying the stock?
No open-market insider purchases of CLMT in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Calumet Specialty Products Partners?
2 of the superinvestors Investingly tracks hold CLMT in their latest 13F, including Cliff Asness, Jay Petschek.
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Prices and ratios as of Oct 8, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.