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Side-by-side financial comparison of Calumet, Inc. (CLMT) and KeyCorp (KEY). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($2.0B vs $1.0B, roughly 1.9× Calumet, Inc.). KeyCorp runs the higher net margin — 25.4% vs -3.6%, a 29.0% gap on every dollar of revenue. KeyCorp produced more free cash flow last quarter ($2.1B 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.
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
CLMT vs KEY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $2.0B |
| Net Profit | $-37.3M | $510.0M |
| Gross Margin | -0.3% | — |
| Operating Margin | -6.2% | 32.3% |
| Net Margin | -3.6% | 25.4% |
| Revenue YoY | — | 131.8% |
| Net Profit YoY | — | 309.0% |
| EPS (diluted) | $-0.43 | $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 | $2.0B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $1.0B | $1.8B | ||
| Q1 25 | $993.9M | $1.8B | ||
| Q4 24 | — | $865.0M | ||
| Q3 24 | $1.1B | $695.0M | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | $-37.3M | $510.0M | ||
| Q3 25 | $313.4M | $489.0M | ||
| Q2 25 | $-147.9M | $425.0M | ||
| Q1 25 | $-162.0M | $405.0M | ||
| Q4 24 | — | $-244.0M | ||
| Q3 24 | $-100.6M | $-410.0M | ||
| Q2 24 | $-39.1M | $274.0M | ||
| Q1 24 | — | $219.0M |
| 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% | 32.3% | ||
| Q3 25 | 30.0% | 31.8% | ||
| Q2 25 | -9.8% | 29.3% | ||
| Q1 25 | -4.9% | 29.0% | ||
| Q4 24 | — | -92.6% | ||
| Q3 24 | -5.2% | -72.8% | ||
| Q2 24 | 0.5% | 22.0% | ||
| Q1 24 | — | 18.1% |
| Q4 25 | -3.6% | 25.4% | ||
| Q3 25 | 29.1% | 25.8% | ||
| Q2 25 | -14.4% | 23.1% | ||
| Q1 25 | -16.3% | 22.8% | ||
| Q4 24 | — | -54.7% | ||
| Q3 24 | -9.1% | -59.0% | ||
| Q2 24 | -3.4% | 18.0% | ||
| Q1 24 | — | 14.3% |
| Q4 25 | $-0.43 | $0.43 | ||
| Q3 25 | $3.61 | $0.41 | ||
| Q2 25 | $-1.70 | $0.35 | ||
| Q1 25 | $-1.87 | $0.33 | ||
| Q4 24 | — | $-0.30 | ||
| Q3 24 | $-1.18 | $-0.47 | ||
| Q2 24 | $-0.48 | $0.25 | ||
| Q1 24 | — | $0.20 |
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 | $10.2B |
| Total DebtLower is stronger | $2.1B | $9.9B |
| Stockholders' EquityBook value | $-732.7M | $20.4B |
| Total Assets | $2.7B | $184.4B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $10.2B | ||
| Q3 25 | $94.6M | $13.3B | ||
| Q2 25 | $110.6M | $11.6B | ||
| Q1 25 | $123.4M | $15.3B | ||
| Q4 24 | — | $17.5B | ||
| Q3 24 | $34.6M | $22.8B | ||
| Q2 24 | $7.0M | $15.5B | ||
| Q1 24 | — | $13.2B |
| Q4 25 | $2.1B | $9.9B | ||
| Q3 25 | $2.1B | $10.9B | ||
| Q2 25 | $2.1B | $12.1B | ||
| Q1 25 | $2.3B | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | $1.7B | $15.7B | ||
| Q2 24 | — | $16.9B | ||
| Q1 24 | — | $20.8B |
| Q4 25 | $-732.7M | $20.4B | ||
| Q3 25 | $-695.3M | $20.1B | ||
| Q2 25 | $-1.0B | $19.5B | ||
| Q1 25 | $-862.3M | $19.0B | ||
| Q4 24 | — | $18.2B | ||
| Q3 24 | $-672.2M | $16.9B | ||
| Q2 24 | $-566.4M | $14.8B | ||
| Q1 24 | — | $14.5B |
| Q4 25 | $2.7B | $184.4B | ||
| Q3 25 | $2.7B | $187.4B | ||
| Q2 25 | $2.8B | $185.5B | ||
| Q1 25 | $2.8B | $188.7B | ||
| Q4 24 | — | $187.2B | ||
| Q3 24 | $2.6B | $189.8B | ||
| Q2 24 | $100 | $187.4B | ||
| Q1 24 | — | $187.5B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 1.43× |
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 | $2.2B |
| Free Cash FlowOCF − Capex | $103.8M | $2.1B |
| FCF MarginFCF / Revenue | 10.0% | 104.8% |
| Capex IntensityCapex / Revenue | 1.2% | 5.3% |
| Cash ConversionOCF / Net Profit | — | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $116.5M | $2.2B | ||
| Q3 25 | $23.5M | $396.0M | ||
| Q2 25 | $-1.8M | $1.2B | ||
| Q1 25 | $-29.3M | $-140.0M | ||
| Q4 24 | — | $664.0M | ||
| Q3 24 | $-15.5M | $-1.2B | ||
| Q2 24 | — | $-217.0M | ||
| Q1 24 | — | $359.0M |
| Q4 25 | $103.8M | $2.1B | ||
| Q3 25 | $15.1M | $367.0M | ||
| Q2 25 | $-15.4M | $1.2B | ||
| Q1 25 | $-46.9M | $-150.0M | ||
| Q4 24 | — | $599.0M | ||
| Q3 24 | $-32.2M | $-1.2B | ||
| Q2 24 | — | $-230.0M | ||
| Q1 24 | — | $347.0M |
| Q4 25 | 10.0% | 104.8% | ||
| Q3 25 | 1.4% | 19.4% | ||
| Q2 25 | -1.5% | 65.8% | ||
| Q1 25 | -4.7% | -8.5% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | -2.9% | -175.8% | ||
| Q2 24 | — | -15.1% | ||
| Q1 24 | — | 22.6% |
| Q4 25 | 1.2% | 5.3% | ||
| Q3 25 | 0.8% | 1.5% | ||
| Q2 25 | 1.3% | 1.3% | ||
| Q1 25 | 1.8% | 0.6% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | 1.5% | 2.4% | ||
| Q2 24 | 2.2% | 0.9% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | — | 4.33× | ||
| Q3 25 | 0.07× | 0.81× | ||
| Q2 25 | — | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.64× |
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% |
KEY
Segment breakdown not available.
