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Side-by-side financial comparison of Calumet, Inc. (CLMT) and IMPERIAL OIL LTD (IMO). Click either name above to swap in a different company.
IMPERIAL OIL LTD is the larger business by last-quarter revenue ($8.2B vs $1.0B, roughly 7.9× Calumet, Inc.). IMPERIAL OIL LTD runs the higher net margin — 4.4% vs -3.6%, a 8.0% gap on every dollar of revenue. IMPERIAL OIL LTD produced more free cash flow last quarter ($938.8M vs $103.8M).
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.
Imperial Oil Limited is a Canadian petroleum company. It is Canada's second-largest integrated oil company that is also occasionally known as Imperial Esso. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company. It is a producer of crude oil, diluted bitumen, and natural gas. Imperial Oil is one of Canada's major petroleum refiners and petrochemical producers. It supplies Esso-brand service stations.
CLMT vs IMO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $8.2B |
| Net Profit | $-37.3M | $359.2M |
| Gross Margin | -0.3% | — |
| Operating Margin | -6.2% | 5.6% |
| Net Margin | -3.6% | 4.4% |
| Revenue YoY | — | -10.5% |
| Net Profit YoY | — | -59.8% |
| EPS (diluted) | $-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 | $1.0B | $8.2B | ||
| Q3 25 | $1.1B | $8.8B | ||
| Q2 25 | $1.0B | $8.2B | ||
| Q1 25 | $993.9M | $9.1B | ||
| Q4 24 | — | $9.2B | ||
| Q3 24 | $1.1B | $9.7B | ||
| Q2 24 | $1.1B | $9.8B | ||
| Q1 24 | — | $9.0B |
| Q4 25 | $-37.3M | $359.2M | ||
| Q3 25 | $313.4M | $393.5M | ||
| Q2 25 | $-147.9M | $692.8M | ||
| Q1 25 | $-162.0M | $940.2M | ||
| Q4 24 | — | $894.3M | ||
| Q3 24 | $-100.6M | $903.0M | ||
| Q2 24 | $-39.1M | $827.1M | ||
| Q1 24 | — | $872.4M |
| 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 24 | — | — |
| Q4 25 | -6.2% | 5.6% | ||
| Q3 25 | 30.0% | 5.8% | ||
| Q2 25 | -9.8% | 11.1% | ||
| Q1 25 | -4.9% | 13.5% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | -5.2% | 12.1% | ||
| Q2 24 | 0.5% | 11.1% | ||
| Q1 24 | — | 12.8% |
| Q4 25 | -3.6% | 4.4% | ||
| Q3 25 | 29.1% | 4.5% | ||
| Q2 25 | -14.4% | 8.4% | ||
| Q1 25 | -16.3% | 10.3% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | -9.1% | 9.3% | ||
| Q2 24 | -3.4% | 8.5% | ||
| Q1 24 | — | 9.7% |
| Q4 25 | $-0.43 | — | ||
| Q3 25 | $3.61 | — | ||
| Q2 25 | $-1.70 | — | ||
| Q1 25 | $-1.87 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.18 | — | ||
| Q2 24 | $-0.48 | — | ||
| Q1 24 | — | — |
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 | $833.7M |
| Total DebtLower is stronger | $2.1B | $2.9B |
| Stockholders' EquityBook value | $-732.7M | $16.2B |
| Total Assets | $2.7B | $30.9B |
| Debt / EquityLower = less leverage | — | 0.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $833.7M | ||
| Q3 25 | $94.6M | $1.4B | ||
| Q2 25 | $110.6M | $1.7B | ||
| Q1 25 | $123.4M | $1.3B | ||
| Q4 24 | — | $714.7M | ||
| Q3 24 | $34.6M | $1.1B | ||
| Q2 24 | $7.0M | $1.5B | ||
| Q1 24 | — | $858.5M |
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $2.1B | $2.9B | ||
| Q2 25 | $2.1B | $2.9B | ||
| Q1 25 | $2.3B | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $1.7B | $2.9B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | — | $2.9B |
| Q4 25 | $-732.7M | $16.2B | ||
| Q3 25 | $-695.3M | $17.3B | ||
| Q2 25 | $-1.0B | $18.2B | ||
| Q1 25 | $-862.3M | $17.8B | ||
| Q4 24 | — | $17.1B | ||
| Q3 24 | $-672.2M | $17.3B | ||
| Q2 24 | $-566.4M | $17.5B | ||
| Q1 24 | — | $16.9B |
| Q4 25 | $2.7B | $30.9B | ||
| Q3 25 | $2.7B | $31.4B | ||
| Q2 25 | $2.8B | $32.2B | ||
| Q1 25 | $2.8B | $32.0B | ||
| Q4 24 | — | $31.3B | ||
| Q3 24 | $2.6B | $31.0B | ||
| Q2 24 | $100 | $32.2B | ||
| Q1 24 | — | $31.0B |
| Q4 25 | — | 0.18× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | 0.16× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.17× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.17× |
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 | $1.4B |
| Free Cash FlowOCF − Capex | $103.8M | $938.8M |
| FCF MarginFCF / Revenue | 10.0% | 11.4% |
| Capex IntensityCapex / Revenue | 1.2% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 3.90× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | $3.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $116.5M | $1.4B | ||
| Q3 25 | $23.5M | $1.3B | ||
| Q2 25 | $-1.8M | $1.1B | ||
| Q1 25 | $-29.3M | $1.1B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $-15.5M | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $785.5M |
| Q4 25 | $103.8M | $938.8M | ||
| Q3 25 | $15.1M | $944.6M | ||
| Q2 25 | $-15.4M | $725.6M | ||
| Q1 25 | $-46.9M | $824.2M | ||
| Q4 24 | — | $997.2M | ||
| Q3 24 | $-32.2M | $730.7M | ||
| Q2 24 | — | $852.6M | ||
| Q1 24 | — | $422.7M |
| Q4 25 | 10.0% | 11.4% | ||
| Q3 25 | 1.4% | 10.7% | ||
| Q2 25 | -1.5% | 8.8% | ||
| Q1 25 | -4.7% | 9.0% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | -2.9% | 7.5% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | 4.7% |
| Q4 25 | 1.2% | 5.6% | ||
| Q3 25 | 0.8% | 4.2% | ||
| Q2 25 | 1.3% | 4.2% | ||
| Q1 25 | 1.8% | 3.2% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 1.5% | 3.7% | ||
| Q2 24 | 2.2% | 3.4% | ||
| Q1 24 | — | 4.0% |
| Q4 25 | — | 3.90× | ||
| Q3 25 | 0.07× | 3.34× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.44× | ||
| Q1 24 | — | 0.90× |
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% |
IMO
Segment breakdown not available.
