What is Calumet, Inc.'s invested capital?

Calumet, Inc. (CLMT) reported invested capital of $1.15B in Q1 2026.

How has Calumet, Inc.'s invested capital changed year-over-year?

Calumet, Inc.'s invested capital decreased by 27.0% year-over-year, from $1.58B to $1.15B.

What is the long-term trend for Calumet, Inc.'s invested capital?

Over 2 years (2023 to 2025), Calumet, Inc.'s invested capital has grown at a 3.2% compound annual growth rate (CAGR), from $1.5B to $1.6B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Calumet, Inc. CLMT Invested capital

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$1.0B+3.6%

Gross profit-$87.5M-7.5%

Operating income-$171.3M-252%

Net income-$317.0M-95.7%

EPS (diluted)-$3.64-94.7%

Balance sheet

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Cash & equivalents$138.6M+12.3%

Total debt$2.3B-9.0%

Total equity-$1.0B-21.0%

Total assets$2.8B-2.4%

Cash flow

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Operating cash flow-$86.2M-194%

CapEx$13.2M-25.0%

Free cash flow-$99.4M-112%

Valuation

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Market cap$2.86B+185%

Enterprise value$5.06B+50.3%

P/S0.7×+0.4×

Profitability

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Gross margin5.8%+4.1pp

Operating margin4.8%—

Net margin-4.5%-1.4pp

FCF margin0.1%—

Returns & leverage

See full

Return on equity19.8%—

Debt / equity-2.2×—

Current ratio1×-0.1×

Where this comes from

Calculated from Calumet, Inc.’s reported figures.

$2.3Btotal debt−$1.0Btotal stockholders equity−$138.6Mcash and equivalents=$1.15B

The official record: Calumet, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Calumet, Inc.'s invested capital?: Calumet, Inc. (CLMT) reported invested capital of $1.15B in Q1 2026.
How has Calumet, Inc.'s invested capital changed year-over-year?: Calumet, Inc.'s invested capital decreased by 27.0% year-over-year, from $1.58B to $1.15B.
What is the long-term trend for Calumet, Inc.'s invested capital?: Over 2 years (2023 to 2025), Calumet, Inc.'s invested capital has grown at a 3.2% compound annual growth rate (CAGR), from $1.5B to $1.6B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).