What is Calumet, Inc.'s operating margin?

Calumet, Inc. (CLMT) reported operating margin of 4.8% in Q3 2025.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Calumet, Inc. CLMT Operating margin

Operating margin at other companies

Valero EnergyVLO

4.7%+3.7pp

HF SinclairDINO

6.1%—

Par Pacific Holdings, Inc.PARR

8.2%—

CVR EnergyCVI

4.1%+2.1pp

AVT

AvantorAVTR

4%-5.2pp

WestlakeWLK

-15.7%-20.8pp

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

Net margin-4.5%-1.4pp

FCF margin0.1%—

Returns & leverage

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Return on equity19.8%—

Debt / equity-2.2×—

Current ratio1×-0.1×

Where this comes from

Calculated from Calumet, Inc.’s reported figures.

operating income/total revenue=4.8%

Based on trailing twelve months.

The official record: Calumet, Inc.’s 10-Q, filed November 10, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Calumet, Inc.'s operating margin?: Calumet, Inc. (CLMT) reported operating margin of 4.8% in Q3 2025.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.