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Side-by-side financial comparison of Allegiant Travel CO (ALGT) and Calumet, Inc. (CLMT). Click either name above to swap in a different company.
Calumet, Inc. is the larger business by last-quarter revenue ($1.0B vs $732.4M, roughly 1.4× Allegiant Travel CO). Allegiant Travel CO runs the higher net margin — 5.8% vs -3.6%, a 9.4% gap on every dollar of revenue.
Allegiant Air, styled as allegiant, is an American low-cost airline headquartered in Las Vegas, Nevada. The airline focuses on serving leisure traffic from small and medium-sized cities which it considers to be underserved, using an ultra low-cost business model with minimal inclusions in fares and a greater number of add-on fees.
Calumet, Inc. is a U.S.-headquartered specialty products firm that manufactures and distributes high-value hydrocarbon and specialty chemical products. Its offerings include specialty oils, lubricants, waxes, and renewable fuel solutions, serving industrial, consumer, and transportation segments across North America.
ALGT vs CLMT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $732.4M | $1.0B |
| Net Profit | $42.5M | $-37.3M |
| Gross Margin | — | -0.3% |
| Operating Margin | 11.1% | -6.2% |
| Net Margin | 5.8% | -3.6% |
| Revenue YoY | 4.8% | — |
| Net Profit YoY | 32.4% | — |
| EPS (diluted) | $2.30 | $-0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $732.4M | — | ||
| Q4 25 | $595.5M | $1.0B | ||
| Q3 25 | $494.1M | $1.1B | ||
| Q2 25 | $617.9M | $1.0B | ||
| Q1 25 | $616.8M | $993.9M | ||
| Q4 24 | $553.6M | — | ||
| Q3 24 | $489.0M | $1.1B | ||
| Q2 24 | $594.5M | $1.1B |
| Q1 26 | $42.5M | — | ||
| Q4 25 | $31.9M | $-37.3M | ||
| Q3 25 | $-43.6M | $313.4M | ||
| Q2 25 | $-65.2M | $-147.9M | ||
| Q1 25 | $32.1M | $-162.0M | ||
| Q4 24 | $-216.2M | — | ||
| Q3 24 | $-36.8M | $-100.6M | ||
| Q2 24 | $13.7M | $-39.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.3% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | -4.2% | ||
| Q1 25 | — | -8.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 5.6% |
| Q1 26 | 11.1% | — | ||
| Q4 25 | 11.2% | -6.2% | ||
| Q3 25 | -5.5% | 30.0% | ||
| Q2 25 | -10.9% | -9.8% | ||
| Q1 25 | 10.5% | -4.9% | ||
| Q4 24 | -47.7% | — | ||
| Q3 24 | -5.4% | -5.2% | ||
| Q2 24 | 5.9% | 0.5% |
| Q1 26 | 5.8% | — | ||
| Q4 25 | 5.4% | -3.6% | ||
| Q3 25 | -8.8% | 29.1% | ||
| Q2 25 | -10.5% | -14.4% | ||
| Q1 25 | 5.2% | -16.3% | ||
| Q4 24 | -39.1% | — | ||
| Q3 24 | -7.5% | -9.1% | ||
| Q2 24 | 2.3% | -3.4% |
| Q1 26 | $2.30 | — | ||
| Q4 25 | $1.82 | $-0.43 | ||
| Q3 25 | $-2.41 | $3.61 | ||
| Q2 25 | $-3.62 | $-1.70 | ||
| Q1 25 | $1.73 | $-1.87 | ||
| Q4 24 | $-12.12 | — | ||
| Q3 24 | $-2.05 | $-1.18 | ||
| Q2 24 | $0.75 | $-0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $902.1M | $125.1M |
| Total DebtLower is stronger | — | $2.1B |
| Stockholders' EquityBook value | — | $-732.7M |
| Total Assets | — | $2.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $902.1M | — | ||
| Q4 25 | $805.7M | $125.1M | ||
| Q3 25 | $956.7M | $94.6M | ||
| Q2 25 | $842.8M | $110.6M | ||
| Q1 25 | $878.6M | $123.4M | ||
| Q4 24 | $781.1M | — | ||
| Q3 24 | $759.3M | $34.6M | ||
| Q2 24 | $791.9M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $2.1B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.1B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $1.6B | — | ||
| Q3 24 | $1.8B | $1.7B | ||
| Q2 24 | $1.7B | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $-732.7M | ||
| Q3 25 | $1.0B | $-695.3M | ||
| Q2 25 | $1.1B | $-1.0B | ||
| Q1 25 | $1.1B | $-862.3M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | $-672.2M | ||
| Q2 24 | $1.3B | $-566.4M |
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | $2.7B | ||
| Q3 25 | $4.4B | $2.7B | ||
| Q2 25 | $4.4B | $2.8B | ||
| Q1 25 | $4.5B | $2.8B | ||
| Q4 24 | $4.4B | — | ||
| Q3 24 | $4.8B | $2.6B | ||
| Q2 24 | $4.9B | $100 |
| Q1 26 | — | — | ||
| Q4 25 | 1.60× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | 1.57× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 1.30× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $116.5M |
| Free Cash FlowOCF − Capex | — | $103.8M |
| FCF MarginFCF / Revenue | — | 10.0% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $112.2M | $116.5M | ||
| Q3 25 | $-6.1M | $23.5M | ||
| Q2 25 | $92.2M | $-1.8M | ||
| Q1 25 | $191.4M | $-29.3M | ||
| Q4 24 | $84.4M | — | ||
| Q3 24 | $17.3M | $-15.5M | ||
| Q2 24 | $68.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | $90.4M | $103.8M | ||
| Q3 25 | $-121.7M | $15.1M | ||
| Q2 25 | $-10.5M | $-15.4M | ||
| Q1 25 | $116.9M | $-46.9M | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $-28.7M | $-32.2M | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 15.2% | 10.0% | ||
| Q3 25 | -24.6% | 1.4% | ||
| Q2 25 | -1.7% | -1.5% | ||
| Q1 25 | 19.0% | -4.7% | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | -5.9% | -2.9% | ||
| Q2 24 | 1.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | 1.2% | ||
| Q3 25 | 23.4% | 0.8% | ||
| Q2 25 | 16.6% | 1.3% | ||
| Q1 25 | 12.1% | 1.8% | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 9.4% | 1.5% | ||
| Q2 24 | 10.4% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 3.51× | — | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALGT
| Passenger | $671.8M | 92% |
| Third party products | $42.3M | 6% |
| Fixed fee contracts | $18.1M | 2% |
| Resort and other | $175.0K | 0% |
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
