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Side-by-side financial comparison of Calumet, Inc. (CLMT) and Fabrinet (FN). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $1.0B, roughly 1.1× Calumet, Inc.). Fabrinet runs the higher net margin — 9.9% vs -3.6%, a 13.5% gap on every dollar of revenue. Calumet, Inc. produced more free cash flow last quarter ($103.8M vs $-5.3M).
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.
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
CLMT vs FN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.1B |
| Net Profit | $-37.3M | $112.6M |
| Gross Margin | -0.3% | 12.2% |
| Operating Margin | -6.2% | 10.1% |
| Net Margin | -3.6% | 9.9% |
| Revenue YoY | — | 35.9% |
| Net Profit YoY | — | 30.0% |
| EPS (diluted) | $-0.43 | $3.11 |
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 | $1.0B | $1.1B | ||
| Q3 25 | $1.1B | $978.1M | ||
| Q2 25 | $1.0B | $909.7M | ||
| Q1 25 | $993.9M | $871.8M | ||
| Q4 24 | — | $833.6M | ||
| Q3 24 | $1.1B | $804.2M | ||
| Q2 24 | $1.1B | $753.3M | ||
| Q1 24 | — | $731.5M |
| Q4 25 | $-37.3M | $112.6M | ||
| Q3 25 | $313.4M | $95.9M | ||
| Q2 25 | $-147.9M | $87.2M | ||
| Q1 25 | $-162.0M | $81.3M | ||
| Q4 24 | — | $86.6M | ||
| Q3 24 | $-100.6M | $77.4M | ||
| Q2 24 | $-39.1M | $81.1M | ||
| Q1 24 | — | $80.9M |
| Q4 25 | -0.3% | 12.2% | ||
| Q3 25 | 34.7% | 11.9% | ||
| Q2 25 | -4.2% | 12.2% | ||
| Q1 25 | -8.2% | 11.7% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | 0.4% | 12.3% | ||
| Q2 24 | 5.6% | 12.3% | ||
| Q1 24 | — | 12.4% |
| Q4 25 | -6.2% | 10.1% | ||
| Q3 25 | 30.0% | 9.6% | ||
| Q2 25 | -9.8% | 9.8% | ||
| Q1 25 | -4.9% | 9.0% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | -5.2% | 9.6% | ||
| Q2 24 | 0.5% | 9.7% | ||
| Q1 24 | — | 9.7% |
| Q4 25 | -3.6% | 9.9% | ||
| Q3 25 | 29.1% | 9.8% | ||
| Q2 25 | -14.4% | 9.6% | ||
| Q1 25 | -16.3% | 9.3% | ||
| Q4 24 | — | 10.4% | ||
| Q3 24 | -9.1% | 9.6% | ||
| Q2 24 | -3.4% | 10.8% | ||
| Q1 24 | — | 11.1% |
| Q4 25 | $-0.43 | $3.11 | ||
| Q3 25 | $3.61 | $2.66 | ||
| Q2 25 | $-1.70 | $2.41 | ||
| Q1 25 | $-1.87 | $2.25 | ||
| Q4 24 | — | $2.38 | ||
| Q3 24 | $-1.18 | $2.13 | ||
| Q2 24 | $-0.48 | $2.22 | ||
| Q1 24 | — | $2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $125.1M | $960.8M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $-732.7M | $2.2B |
| Total Assets | $2.7B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $960.8M | ||
| Q3 25 | $94.6M | $968.8M | ||
| Q2 25 | $110.6M | $934.2M | ||
| Q1 25 | $123.4M | $950.7M | ||
| Q4 24 | — | $934.6M | ||
| Q3 24 | $34.6M | $908.9M | ||
| Q2 24 | $7.0M | $858.6M | ||
| Q1 24 | — | $794.0M |
| Q4 25 | $2.1B | — | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-732.7M | $2.2B | ||
| Q3 25 | $-695.3M | $2.1B | ||
| Q2 25 | $-1.0B | $2.0B | ||
| Q1 25 | $-862.3M | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $-672.2M | $1.8B | ||
| Q2 24 | $-566.4M | $1.7B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | $2.7B | $3.3B | ||
| Q3 25 | $2.7B | $3.0B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $2.8B | $2.6B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | $2.6B | $2.4B | ||
| Q2 24 | $100 | $2.3B | ||
| Q1 24 | — | $2.2B |
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 | $46.3M |
| Free Cash FlowOCF − Capex | $103.8M | $-5.3M |
| FCF MarginFCF / Revenue | 10.0% | -0.5% |
| Capex IntensityCapex / Revenue | 1.2% | 4.6% |
| Cash ConversionOCF / Net Profit | — | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $116.5M | $46.3M | ||
| Q3 25 | $23.5M | $102.6M | ||
| Q2 25 | $-1.8M | $55.1M | ||
| Q1 25 | $-29.3M | $74.2M | ||
| Q4 24 | — | $115.9M | ||
| Q3 24 | $-15.5M | $83.2M | ||
| Q2 24 | — | $83.1M | ||
| Q1 24 | — | $100.9M |
| Q4 25 | $103.8M | $-5.3M | ||
| Q3 25 | $15.1M | $57.3M | ||
| Q2 25 | $-15.4M | $4.7M | ||
| Q1 25 | $-46.9M | $45.7M | ||
| Q4 24 | — | $94.0M | ||
| Q3 24 | $-32.2M | $62.9M | ||
| Q2 24 | — | $70.4M | ||
| Q1 24 | — | $87.3M |
| Q4 25 | 10.0% | -0.5% | ||
| Q3 25 | 1.4% | 5.9% | ||
| Q2 25 | -1.5% | 0.5% | ||
| Q1 25 | -4.7% | 5.2% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | -2.9% | 7.8% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | 1.2% | 4.6% | ||
| Q3 25 | 0.8% | 4.6% | ||
| Q2 25 | 1.3% | 5.5% | ||
| Q1 25 | 1.8% | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 1.5% | 2.5% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | — | 1.9% |
| Q4 25 | — | 0.41× | ||
| Q3 25 | 0.07× | 1.07× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | — | 1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLMT
| Specialty Products And Solutions | $675.9M | 65% |
| Montana Renewables | $294.2M | 28% |
| Performance Brands | $68.5M | 7% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
