Calumet, Inc. /DE (CLMT) FY2025 10-K Annual Report

Filed: Feb 27, 2026
Energy
Petroleum RefiningSEC EDGAR

Calumet, Inc. /DE (CLMT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 27, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Calumet, Inc. /DE FY2025 10-K Analysis

Management Discussion & Analysis

  • No revenue or profitability figures disclosed in this text
  • Capital expenditures funded partially by $1.44B DOE Loan to expand renewable fuels facility; $781.8M first tranche received Feb 18, 2025
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Risk Factors

  • Regulatory risk: EPA Renewable Fuel Standard compliance with potential narrowing of Small Refinery Exemption increasing RINs purchase costs
  • Macroeconomic risk: RINs prices significantly increased, causing $114.1 million gain from RINs in FY 2025 vs $31.9 million in FY 2024
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Calumet, Inc. /DE FY2025 Key Financial Metrics
XBRL

Revenue

$4.1B

-1.2% YoY

Net Income

-$34M

+84.8% YoY

Gross Margin

5.9%

+43bp YoY

Operating Margin

2.6%

+243bp YoY

Net Margin

-0.8%

+448bp YoY

ROE

4.6%

-2657bp YoY

Total Assets

$2.7B

-2.5% YoY

EPS (Diluted)

$-0.39

+85.4% YoY

Operating Cash Flow

$109M

+334.7% YoY

Source: XBRL data from Calumet, Inc. /DE FY2025 10-K filing on SEC EDGAR. All figures in USD.

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