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Side-by-side financial comparison of Calumet, Inc. (CLMT) and PACS Group, Inc. (PACS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.0B, roughly 1.3× Calumet, Inc.). PACS Group, Inc. runs the higher net margin — 4.4% vs -3.6%, a 8.0% gap on every dollar of revenue.
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.
CLMT vs PACS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.4B |
| Net Profit | $-37.3M | $59.7M |
| Gross Margin | -0.3% | — |
| Operating Margin | -6.2% | 7.0% |
| Net Margin | -3.6% | 4.4% |
| Revenue YoY | — | 18.4% |
| Net Profit YoY | — | 3022.5% |
| EPS (diluted) | $-0.43 | $0.42 |
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 | $1.4B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $993.9M | $1.3B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $981.4M | ||
| Q1 24 | — | $934.3M |
| Q4 25 | $-37.3M | $59.7M | ||
| Q3 25 | $313.4M | $52.4M | ||
| Q2 25 | $-147.9M | $51.0M | ||
| Q1 25 | $-162.0M | $28.5M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | $-100.6M | $15.6M | ||
| Q2 24 | $-39.1M | $-10.9M | ||
| Q1 24 | — | $49.1M |
| Q4 25 | -0.3% | — | ||
| Q3 25 | 34.7% | — | ||
| Q2 25 | -4.2% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.4% | 17.1% | ||
| Q2 24 | 5.6% | 22.3% | ||
| Q1 24 | — | 21.2% |
| Q4 25 | -6.2% | 7.0% | ||
| Q3 25 | 30.0% | 6.4% | ||
| Q2 25 | -9.8% | 6.2% | ||
| Q1 25 | -4.9% | 3.8% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | -5.2% | 2.2% | ||
| Q2 24 | 0.5% | 0.1% | ||
| Q1 24 | — | 8.6% |
| Q4 25 | -3.6% | 4.4% | ||
| Q3 25 | 29.1% | 3.9% | ||
| Q2 25 | -14.4% | 3.9% | ||
| Q1 25 | -16.3% | 2.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | -9.1% | 1.5% | ||
| Q2 24 | -3.4% | -1.1% | ||
| Q1 24 | — | 5.3% |
| Q4 25 | $-0.43 | $0.42 | ||
| Q3 25 | $3.61 | $0.32 | ||
| Q2 25 | $-1.70 | $0.31 | ||
| Q1 25 | $-1.87 | $0.17 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | $-1.18 | $0.10 | ||
| Q2 24 | $-0.48 | $-0.07 | ||
| Q1 24 | — | $0.38 |
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 | $197.0M |
| Total DebtLower is stronger | $2.1B | $353.2M |
| Stockholders' EquityBook value | $-732.7M | $946.8M |
| Total Assets | $2.7B | $5.6B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.1M | $197.0M | ||
| Q3 25 | $94.6M | $355.7M | ||
| Q2 25 | $110.6M | $294.2M | ||
| Q1 25 | $123.4M | $287.5M | ||
| Q4 24 | — | $157.7M | ||
| Q3 24 | $34.6M | $49.5M | ||
| Q2 24 | $7.0M | $73.4M | ||
| Q1 24 | — | $81.2M |
| Q4 25 | $2.1B | $353.2M | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | $411.9M | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-732.7M | $946.8M | ||
| Q3 25 | $-695.3M | $871.3M | ||
| Q2 25 | $-1.0B | $806.8M | ||
| Q1 25 | $-862.3M | $750.2M | ||
| Q4 24 | — | $709.6M | ||
| Q3 24 | $-672.2M | $660.0M | ||
| Q2 24 | $-566.4M | $572.1M | ||
| Q1 24 | — | $128.0M |
| Q4 25 | $2.7B | $5.6B | ||
| Q3 25 | $2.7B | $5.6B | ||
| Q2 25 | $2.8B | $5.5B | ||
| Q1 25 | $2.8B | $5.5B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $2.6B | $4.5B | ||
| Q2 24 | $100 | $3.9B | ||
| Q1 24 | — | $3.9B |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-3.4M |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | — | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $116.5M | $-3.4M | ||
| Q3 25 | $23.5M | $204.8M | ||
| Q2 25 | $-1.8M | $52.6M | ||
| Q1 25 | $-29.3M | $150.2M | ||
| Q4 24 | — | $64.6M | ||
| Q3 24 | $-15.5M | $209.2M | ||
| Q2 24 | — | $34.8M | ||
| Q1 24 | — | $58.8M |
| Q4 25 | $103.8M | — | ||
| Q3 25 | $15.1M | — | ||
| Q2 25 | $-15.4M | — | ||
| Q1 25 | $-46.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-32.2M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 10.0% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | -1.5% | — | ||
| Q1 25 | -4.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -2.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 1.2% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -0.06× | ||
| Q3 25 | 0.07× | 3.91× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 5.28× | ||
| Q4 24 | — | 33.78× | ||
| Q3 24 | — | 13.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.20× |
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% |
PACS
Segment breakdown not available.
