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Side-by-side financial comparison of Ardent Health, Inc. (ARDT) and Calumet, Inc. (CLMT). Click either name above to swap in a different company.
Ardent Health, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.0B, roughly 1.5× Calumet, Inc.). Ardent Health, Inc. runs the higher net margin — 2.8% vs -3.6%, a 6.4% gap on every dollar of revenue.
Goodlife Health Clubs is a chain of health clubs, with more than 80 locations in Australia.
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.
ARDT vs CLMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.0B |
| Net Profit | $45.0M | $-37.3M |
| Gross Margin | — | -0.3% |
| Operating Margin | 5.8% | -6.2% |
| Net Margin | 2.8% | -3.6% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.32 | $-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.
| Q4 25 | $1.6B | $1.0B | ||
| Q3 25 | $1.6B | $1.1B | ||
| Q2 25 | $1.6B | $1.0B | ||
| Q1 25 | $1.5B | $993.9M | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.5B | $1.1B |
| Q4 25 | $45.0M | $-37.3M | ||
| Q3 25 | $-23.5M | $313.4M | ||
| Q2 25 | $73.0M | $-147.9M | ||
| Q1 25 | $41.4M | $-162.0M | ||
| Q3 24 | $26.3M | $-100.6M | ||
| Q2 24 | $42.8M | $-39.1M |
| Q4 25 | — | -0.3% | ||
| Q3 25 | — | 34.7% | ||
| Q2 25 | — | -4.2% | ||
| Q1 25 | — | -8.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 5.6% |
| Q4 25 | 5.8% | -6.2% | ||
| Q3 25 | -0.1% | 30.0% | ||
| Q2 25 | 7.4% | -9.8% | ||
| Q1 25 | 5.0% | -4.9% | ||
| Q3 24 | 3.9% | -5.2% | ||
| Q2 24 | 5.6% | 0.5% |
| Q4 25 | 2.8% | -3.6% | ||
| Q3 25 | -1.5% | 29.1% | ||
| Q2 25 | 4.4% | -14.4% | ||
| Q1 25 | 2.8% | -16.3% | ||
| Q3 24 | 1.8% | -9.1% | ||
| Q2 24 | 2.9% | -3.4% |
| Q4 25 | $0.32 | $-0.43 | ||
| Q3 25 | $-0.17 | $3.61 | ||
| Q2 25 | $0.52 | $-1.70 | ||
| Q1 25 | $0.29 | $-1.87 | ||
| Q3 24 | $0.19 | $-1.18 | ||
| Q2 24 | $0.34 | $-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 | $709.6M | $125.1M |
| Total DebtLower is stronger | $1.1B | $2.1B |
| Stockholders' EquityBook value | $1.3B | $-732.7M |
| Total Assets | $5.3B | $2.7B |
| Debt / EquityLower = less leverage | 0.84× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $709.6M | $125.1M | ||
| Q3 25 | $609.4M | $94.6M | ||
| Q2 25 | $540.6M | $110.6M | ||
| Q1 25 | $495.0M | $123.4M | ||
| Q3 24 | $563.1M | $34.6M | ||
| Q2 24 | $334.5M | $7.0M |
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | $1.1B | $2.3B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.1B | — |
| Q4 25 | $1.3B | $-732.7M | ||
| Q3 25 | $1.2B | $-695.3M | ||
| Q2 25 | $1.3B | $-1.0B | ||
| Q1 25 | $1.2B | $-862.3M | ||
| Q3 24 | $1.0B | $-672.2M | ||
| Q2 24 | $739.9M | $-566.4M |
| Q4 25 | $5.3B | $2.7B | ||
| Q3 25 | $5.2B | $2.7B | ||
| Q2 25 | $5.0B | $2.8B | ||
| Q1 25 | $4.9B | $2.8B | ||
| Q3 24 | $4.8B | $2.6B | ||
| Q2 24 | $4.6B | $100 |
| Q4 25 | 0.84× | — | ||
| Q3 25 | 0.88× | — | ||
| Q2 25 | 0.87× | — | ||
| Q1 25 | 0.93× | — | ||
| Q3 24 | 1.08× | — | ||
| Q2 24 | 1.46× | — |
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 | $223.4M | $116.5M |
| Free Cash FlowOCF − Capex | — | $103.8M |
| FCF MarginFCF / Revenue | — | 10.0% |
| Capex IntensityCapex / Revenue | — | 1.2% |
| Cash ConversionOCF / Net Profit | 4.97× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $223.4M | $116.5M | ||
| Q3 25 | $154.4M | $23.5M | ||
| Q2 25 | $117.5M | $-1.8M | ||
| Q1 25 | $-24.8M | $-29.3M | ||
| Q3 24 | $89.7M | $-15.5M | ||
| Q2 24 | — | — |
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $15.1M | ||
| Q2 25 | — | $-15.4M | ||
| Q1 25 | — | $-46.9M | ||
| Q3 24 | — | $-32.2M | ||
| Q2 24 | — | — |
| Q4 25 | — | 10.0% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | -1.5% | ||
| Q1 25 | — | -4.7% | ||
| Q3 24 | — | -2.9% | ||
| Q2 24 | — | — |
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | 1.8% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 2.2% |
| Q4 25 | 4.97× | — | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | -0.60× | — | ||
| Q3 24 | 3.41× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARDT
Segment breakdown not available.
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
