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Calumet Valuation Multiples

Discover revenue and EBITDA valuation multiples for Calumet and similar public comparables like Civitas Resources, TerraVest Industries, Par Pacific Holdings, Zeon and more.

Calumet Overview

About Calumet

Calumet Inc is a producer of specialty products, including base oils, specialty oils, solvents, esters, and waxes, as well as a variety of fuel and fuel-related products, including asphalt and heavy fuel oils. The company manufactures, formulates, and markets a variety of specialty branded products to customers in various consumer-facing and industrial markets. Its segments include: Specialty Products and Solutions; Montana/Renewables; Performance Brands; and Corporate. The company generates maximum revenue from Fuels, asphalt and other by-products.


Founded

2005

HQ

United States

Employees

1.6K

Financials (LTM)

Revenue: $4B
EBITDA: $311M

EV

$5B

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Calumet Financials

Calumet reported last 12-month revenue of $4B and EBITDA of $311M.

In the same LTM period, Calumet generated $296M in gross profit, $311M in EBITDA, and had net loss of ($32M).

Revenue (LTM)


Calumet P&L

In the most recent fiscal year, Calumet reported revenue of $4B and EBITDA of $291M.

Calumet expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Calumet forward-looking valuation multiples
LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue$4BXXX$4BXXXXXXXXX
Gross Profit$296MXXX$246MXXXXXXXXX
Gross Margin7%XXX6%XXXXXXXXX
EBITDA$311MXXX$291MXXXXXXXXX
EBITDA Margin7%XXX7%XXXXXXXXX
EBIT Margin3%XXX3%XXXXXXXXX
Net Profit($32M)XXX($34M)XXXXXXXXX
Net Margin(1%)XXX(1%)XXXXXXXXX
Net Debt——$2BXXXXXXXXX

Financial data powered by Morningstar, Inc.

Calumet Stock Performance

Calumet has current market cap of $2B, and enterprise value of $5B.

Market Cap Evolution


Calumet's stock price is $26.95.

See Calumet trading valuation data
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$5B$2B0.0%XXXXXXXXX$-0.39

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Calumet Valuation Multiples

Calumet trades at 1.1x EV/Revenue multiple, and 14.6x EV/EBITDA.

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EV / Revenue (LTM)


Calumet Financial Valuation Multiples

As of March 18, 2026, Calumet has market cap of $2B and EV of $5B.

Equity research analysts estimate Calumet's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Calumet has a P/E ratio of (73.8x).

LTMNTMLast FYFY 2026FY 2027FY 2028
Market cap (current)$2BXXX$2BXXXXXXXXX
EV (current)$5BXXX$5BXXXXXXXXX
EV/Revenue1.1xXXX1.1xXXXXXXXXX
EV/EBITDA14.6xXXX15.6xXXXXXXXXX
EV/EBIT38.0xXXX41.8xXXXXXXXXX
EV/Gross Profit15.4xXXX18.5xXXXXXXXXX
P/E(73.8x)XXX(69.2x)XXXXXXXXX
EV/FCF—XXX80.3xXXXXXXXXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Calumet Valuation Multiples

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Calumet Margins & Growth Rates

Calumet's revenue in the last 12 month grew by 5%.

Calumet's revenue per employee in the last FY averaged $2.6M.

Calumet's rule of 40 is 13% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Calumet's rule of X is 20% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Calumet Operational Valuation Multiples

LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue Growth5%XXX5%XXXXXXXXX
EBITDA Margin7%XXX7%XXXXXXXXX
EBITDA Growth32%XXX32%XXXXXXXXX
Rule of 40—XXX13%XXXXXXXXX
Bessemer Rule of X—XXX20%XXXXXXXXX
Revenue per Employee—XXX$2.6MXXXXXXXXX
S&M Expenses to Revenue1%XXX1%XXXXXXXXX
G&A Expenses to Revenue3%XXX3%XXXXXXXXX
Opex to Revenue—XXX5%XXXXXXXXX

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Calumet Public Comps

See public comps and valuation multiples for other Energy Production and Oil & Gas comps.

EV/RevenueEV/EBITDA
LTM2026E2027ELTM2026E2027E
Civitas ResourcesXXXXXXXXXXXXXXXXXX
TerraVest IndustriesXXXXXXXXXXXXXXXXXX
Par Pacific HoldingsXXXXXXXXXXXXXXXXXX
ZeonXXXXXXXXXXXXXXXXXX
Auren EnergiaXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX

Valuation data powered by FactSet, Inc.

Calumet M&A Activity

Calumet acquired XXX companies to date.

Last acquisition by Calumet was on XXXXXXXX, XXXXX. Calumet acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Acquisitions by Calumet

Acquired CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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Calumet Investment Activity

Calumet invested in XXX companies to date.

Calumet made its latest investment on XXXXXXXX, XXXXX. Calumet invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Investments by Calumet

CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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About Calumet

When was Calumet founded?Calumet was founded in 2005.
Where is Calumet headquartered?Calumet is headquartered in United States.
How many employees does Calumet have?As of today, Calumet has over 1K employees.
Who is the CEO of Calumet?Calumet's CEO is Louis Todd Borgmann.
Is Calumet publicly listed?Yes, Calumet is a public company listed on Nasdaq.
What is the stock symbol of Calumet?Calumet trades under CLMT ticker.
When did Calumet go public?Calumet went public in 2006.
Who are competitors of Calumet?Calumet main competitors are Civitas Resources, TerraVest Industries, Par Pacific Holdings, Zeon.
What is the current market cap of Calumet?Calumet's current market cap is $2B.
What is the current revenue of Calumet?Calumet's last 12 months revenue is $4B.
What is the current revenue growth of Calumet?Calumet revenue growth (NTM/LTM) is 5%.
What is the current EV/Revenue multiple of Calumet?Current revenue multiple of Calumet is 1.1x.
Is Calumet profitable?Yes, Calumet is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of Calumet?Calumet's last 12 months EBITDA is $311M.
What is Calumet's EBITDA margin?Calumet's last 12 months EBITDA margin is 7%.
What is the current EV/EBITDA multiple of Calumet?Current EBITDA multiple of Calumet is 14.6x.

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