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Side-by-side financial comparison of Calumet, Inc. (CLMT) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
Calumet, Inc. is the larger business by last-quarter revenue ($1.0B vs $909.4M, roughly 1.1× Nextpower Inc.). Nextpower Inc. runs the higher net margin — 14.4% vs -3.6%, a 18.0% gap on every dollar of revenue. Nextpower Inc. produced more free cash flow last quarter ($118.5M 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.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
CLMT vs NXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $909.4M |
| Net Profit | $-37.3M | $131.2M |
| Gross Margin | -0.3% | 31.7% |
| Operating Margin | -6.2% | 19.4% |
| Net Margin | -3.6% | 14.4% |
| Revenue YoY | — | 33.9% |
| Net Profit YoY | — | 13.8% |
| EPS (diluted) | $-0.43 | $0.85 |
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 | $909.4M | ||
| Q3 25 | $1.1B | $905.3M | ||
| Q2 25 | $1.0B | $864.3M | ||
| Q1 25 | $993.9M | $924.3M | ||
| Q4 24 | — | $679.4M | ||
| Q3 24 | $1.1B | $635.6M | ||
| Q2 24 | $1.1B | $719.9M | ||
| Q1 24 | — | $736.5M |
| Q4 25 | $-37.3M | $131.2M | ||
| Q3 25 | $313.4M | $146.9M | ||
| Q2 25 | $-147.9M | $157.2M | ||
| Q1 25 | $-162.0M | $156.8M | ||
| Q4 24 | — | $115.3M | ||
| Q3 24 | $-100.6M | $115.4M | ||
| Q2 24 | $-39.1M | $121.7M | ||
| Q1 24 | — | $205.2M |
| Q4 25 | -0.3% | 31.7% | ||
| Q3 25 | 34.7% | 32.4% | ||
| Q2 25 | -4.2% | 32.6% | ||
| Q1 25 | -8.2% | 33.1% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | 0.4% | 35.4% | ||
| Q2 24 | 5.6% | 33.0% | ||
| Q1 24 | — | 46.2% |
| Q4 25 | -6.2% | 19.4% | ||
| Q3 25 | 30.0% | 20.0% | ||
| Q2 25 | -9.8% | 21.5% | ||
| Q1 25 | -4.9% | 21.1% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | -5.2% | 21.0% | ||
| Q2 24 | 0.5% | 22.2% | ||
| Q1 24 | — | 36.8% |
| Q4 25 | -3.6% | 14.4% | ||
| Q3 25 | 29.1% | 16.2% | ||
| Q2 25 | -14.4% | 18.2% | ||
| Q1 25 | -16.3% | 17.0% | ||
| Q4 24 | — | 17.0% | ||
| Q3 24 | -9.1% | 18.2% | ||
| Q2 24 | -3.4% | 16.9% | ||
| Q1 24 | — | 27.9% |
| Q4 25 | $-0.43 | $0.85 | ||
| Q3 25 | $3.61 | $0.97 | ||
| Q2 25 | $-1.70 | $1.04 | ||
| Q1 25 | $-1.87 | $1.05 | ||
| Q4 24 | — | $0.79 | ||
| Q3 24 | $-1.18 | $0.79 | ||
| Q2 24 | $-0.48 | $0.84 | ||
| Q1 24 | — | $1.52 |
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 | $952.6M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $-732.7M | $2.2B |
| Total Assets | $2.7B | $3.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $952.6M | ||
| Q3 25 | $94.6M | $845.3M | ||
| Q2 25 | $110.6M | $743.4M | ||
| Q1 25 | $123.4M | $766.1M | ||
| Q4 24 | — | $693.5M | ||
| Q3 24 | $34.6M | $561.9M | ||
| Q2 24 | $7.0M | $471.9M | ||
| Q1 24 | — | $474.1M |
| 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 | $2.0B | ||
| Q2 25 | $-1.0B | $1.8B | ||
| Q1 25 | $-862.3M | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $-672.2M | $1.3B | ||
| Q2 24 | $-566.4M | $1.1B | ||
| Q1 24 | — | $961.0M |
| Q4 25 | $2.7B | $3.8B | ||
| Q3 25 | $2.7B | $3.7B | ||
| Q2 25 | $2.8B | $3.4B | ||
| Q1 25 | $2.8B | $3.2B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | $2.6B | $2.8B | ||
| Q2 24 | $100 | $2.6B | ||
| Q1 24 | — | $2.5B |
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 | $123.3M |
| Free Cash FlowOCF − Capex | $103.8M | $118.5M |
| FCF MarginFCF / Revenue | 10.0% | 13.0% |
| Capex IntensityCapex / Revenue | 1.2% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $116.5M | $123.3M | ||
| Q3 25 | $23.5M | $186.9M | ||
| Q2 25 | $-1.8M | $81.3M | ||
| Q1 25 | $-29.3M | $237.3M | ||
| Q4 24 | — | $143.8M | ||
| Q3 24 | $-15.5M | $153.8M | ||
| Q2 24 | — | $120.8M | ||
| Q1 24 | — | $111.5M |
| Q4 25 | $103.8M | $118.5M | ||
| Q3 25 | $15.1M | $171.4M | ||
| Q2 25 | $-15.4M | $70.1M | ||
| Q1 25 | $-46.9M | $227.2M | ||
| Q4 24 | — | $134.9M | ||
| Q3 24 | $-32.2M | $141.8M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $109.2M |
| Q4 25 | 10.0% | 13.0% | ||
| Q3 25 | 1.4% | 18.9% | ||
| Q2 25 | -1.5% | 8.1% | ||
| Q1 25 | -4.7% | 24.6% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | -2.9% | 22.3% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 0.8% | 1.7% | ||
| Q2 25 | 1.3% | 1.3% | ||
| Q1 25 | 1.8% | 1.1% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | 1.5% | 1.9% | ||
| Q2 24 | 2.2% | 0.4% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | 0.94× | ||
| Q3 25 | 0.07× | 1.27× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | 1.25× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | — | 0.54× |
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% |
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
