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Side-by-side financial comparison of Calumet, Inc. (CLMT) and Insulet Corporation (PODD). Click either name above to swap in a different company.
Calumet, Inc. is the larger business by last-quarter revenue ($1.0B vs $761.7M, roughly 1.4× Insulet Corporation). Insulet Corporation runs the higher net margin — 12.0% vs -3.6%, a 15.6% gap on every dollar of revenue. Calumet, Inc. produced more free cash flow last quarter ($103.8M vs $89.5M).
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.
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
CLMT vs PODD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $761.7M |
| Net Profit | $-37.3M | $91.1M |
| Gross Margin | -0.3% | 69.5% |
| Operating Margin | -6.2% | 16.0% |
| Net Margin | -3.6% | 12.0% |
| Revenue YoY | — | 33.9% |
| Net Profit YoY | — | 157.3% |
| EPS (diluted) | $-0.43 | $1.30 |
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.
| Q1 26 | — | $761.7M | ||
| Q4 25 | $1.0B | $783.7M | ||
| Q3 25 | $1.1B | $706.3M | ||
| Q2 25 | $1.0B | $649.1M | ||
| Q1 25 | $993.9M | $569.0M | ||
| Q4 24 | — | $597.5M | ||
| Q3 24 | $1.1B | $543.9M | ||
| Q2 24 | $1.1B | $488.5M |
| Q1 26 | — | $91.1M | ||
| Q4 25 | $-37.3M | $101.6M | ||
| Q3 25 | $313.4M | $87.6M | ||
| Q2 25 | $-147.9M | $22.5M | ||
| Q1 25 | $-162.0M | $35.4M | ||
| Q4 24 | — | $100.7M | ||
| Q3 24 | $-100.6M | $77.5M | ||
| Q2 24 | $-39.1M | $188.6M |
| Q1 26 | — | 69.5% | ||
| Q4 25 | -0.3% | 72.6% | ||
| Q3 25 | 34.7% | 72.2% | ||
| Q2 25 | -4.2% | 69.7% | ||
| Q1 25 | -8.2% | 71.9% | ||
| Q4 24 | — | 72.1% | ||
| Q3 24 | 0.4% | 69.3% | ||
| Q2 24 | 5.6% | 67.7% |
| Q1 26 | — | 16.0% | ||
| Q4 25 | -6.2% | 18.7% | ||
| Q3 25 | 30.0% | 16.7% | ||
| Q2 25 | -9.8% | 18.7% | ||
| Q1 25 | -4.9% | 15.6% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | -5.2% | 16.2% | ||
| Q2 24 | 0.5% | 11.2% |
| Q1 26 | — | 12.0% | ||
| Q4 25 | -3.6% | 13.0% | ||
| Q3 25 | 29.1% | 12.4% | ||
| Q2 25 | -14.4% | 3.5% | ||
| Q1 25 | -16.3% | 6.2% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | -9.1% | 14.2% | ||
| Q2 24 | -3.4% | 38.6% |
| Q1 26 | — | $1.30 | ||
| Q4 25 | $-0.43 | $1.42 | ||
| Q3 25 | $3.61 | $1.24 | ||
| Q2 25 | $-1.70 | $0.32 | ||
| Q1 25 | $-1.87 | $0.50 | ||
| Q4 24 | — | $1.38 | ||
| Q3 24 | $-1.18 | $1.08 | ||
| Q2 24 | $-0.48 | $2.59 |
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 | $480.4M |
| Total DebtLower is stronger | $2.1B | $18.6M |
| Stockholders' EquityBook value | $-732.7M | $1.3B |
| Total Assets | $2.7B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $480.4M | ||
| Q4 25 | $125.1M | — | ||
| Q3 25 | $94.6M | — | ||
| Q2 25 | $110.6M | — | ||
| Q1 25 | $123.4M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $34.6M | — | ||
| Q2 24 | $7.0M | — |
| Q1 26 | — | $18.6M | ||
| Q4 25 | $2.1B | $930.8M | ||
| Q3 25 | $2.1B | $934.9M | ||
| Q2 25 | $2.1B | $939.0M | ||
| Q1 25 | $2.3B | $1.6B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.7B | $1.4B | ||
| Q2 24 | — | $1.4B |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $-732.7M | $1.5B | ||
| Q3 25 | $-695.3M | $1.4B | ||
| Q2 25 | $-1.0B | $1.5B | ||
| Q1 25 | $-862.3M | $1.3B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $-672.2M | $1.1B | ||
| Q2 24 | $-566.4M | $998.4M |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.7B | $3.2B | ||
| Q3 25 | $2.7B | $3.0B | ||
| Q2 25 | $2.8B | $3.5B | ||
| Q1 25 | $2.8B | $3.5B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $2.6B | $3.0B | ||
| Q2 24 | $100 | $2.9B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.68× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | 1.07× | ||
| Q3 24 | — | 1.21× | ||
| Q2 24 | — | 1.36× |
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 | $113.8M |
| Free Cash FlowOCF − Capex | $103.8M | $89.5M |
| FCF MarginFCF / Revenue | 10.0% | 11.8% |
| Capex IntensityCapex / Revenue | 1.2% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 1.25× |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | $415.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $113.8M | ||
| Q4 25 | $116.5M | $183.3M | ||
| Q3 25 | $23.5M | $125.7M | ||
| Q2 25 | $-1.8M | $196.5M | ||
| Q1 25 | $-29.3M | $63.8M | ||
| Q4 24 | — | $147.7M | ||
| Q3 24 | $-15.5M | $98.5M | ||
| Q2 24 | — | $96.5M |
| Q1 26 | — | $89.5M | ||
| Q4 25 | $103.8M | $48.2M | ||
| Q3 25 | $15.1M | $100.1M | ||
| Q2 25 | $-15.4M | $177.9M | ||
| Q1 25 | $-46.9M | $51.5M | ||
| Q4 24 | — | $94.1M | ||
| Q3 24 | $-32.2M | $71.8M | ||
| Q2 24 | — | $74.0M |
| Q1 26 | — | 11.8% | ||
| Q4 25 | 10.0% | 6.2% | ||
| Q3 25 | 1.4% | 14.2% | ||
| Q2 25 | -1.5% | 27.4% | ||
| Q1 25 | -4.7% | 9.1% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | -2.9% | 13.2% | ||
| Q2 24 | — | 15.1% |
| Q1 26 | — | 3.2% | ||
| Q4 25 | 1.2% | 17.2% | ||
| Q3 25 | 0.8% | 3.6% | ||
| Q2 25 | 1.3% | 2.9% | ||
| Q1 25 | 1.8% | 2.2% | ||
| Q4 24 | — | 9.0% | ||
| Q3 24 | 1.5% | 4.9% | ||
| Q2 24 | 2.2% | 4.6% |
| Q1 26 | — | 1.25× | ||
| Q4 25 | — | 1.80× | ||
| Q3 25 | 0.07× | 1.43× | ||
| Q2 25 | — | 8.73× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 1.47× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 0.51× |
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% |
PODD
| Omnipod | $515.6M | 68% |
| International Omnipod | $242.9M | 32% |
| Drug Delivery | $3.3M | 0% |
