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Side-by-side financial comparison of Calumet, Inc. (CLMT) and VALMONT INDUSTRIES INC (VMI). Click either name above to swap in a different company.
Calumet, Inc. is the larger business by last-quarter revenue ($1.0B vs $1.0B, roughly 1.0× VALMONT INDUSTRIES INC). VALMONT INDUSTRIES INC runs the higher net margin — 10.5% vs -3.6%, a 14.1% 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.
Valmont Industries, Inc. is a large, publicly held American manufacturer of Valley center pivot and linear irrigation equipment, windmill support structures, lighting and traffic poles and steel utility poles.
CLMT vs VMI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $1.0B |
| Net Profit | $-37.3M | $108.0M |
| Gross Margin | -0.3% | 30.8% |
| Operating Margin | -6.2% | 15.1% |
| Net Margin | -3.6% | 10.5% |
| Revenue YoY | — | 6.2% |
| Net Profit YoY | — | 23.8% |
| EPS (diluted) | $-0.43 | $5.51 |
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 | — | $1.0B | ||
| Q4 25 | $1.0B | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $993.9M | $969.3M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.1B | $1.0B |
| Q1 26 | — | $108.0M | ||
| Q4 25 | $-37.3M | $168.0M | ||
| Q3 25 | $313.4M | $99.0M | ||
| Q2 25 | $-147.9M | $-4.0M | ||
| Q1 25 | $-162.0M | $87.3M | ||
| Q4 24 | — | $77.7M | ||
| Q3 24 | $-100.6M | $83.1M | ||
| Q2 24 | $-39.1M | $99.7M |
| Q1 26 | — | 30.8% | ||
| Q4 25 | -0.3% | 29.8% | ||
| Q3 25 | 34.7% | 30.4% | ||
| Q2 25 | -4.2% | 30.6% | ||
| Q1 25 | -8.2% | 30.0% | ||
| Q4 24 | — | 30.2% | ||
| Q3 24 | 0.4% | 29.6% | ||
| Q2 24 | 5.6% | 30.8% |
| Q1 26 | — | 15.1% | ||
| Q4 25 | -6.2% | 11.2% | ||
| Q3 25 | 30.0% | 13.5% | ||
| Q2 25 | -9.8% | 2.8% | ||
| Q1 25 | -4.9% | 13.2% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | -5.2% | 12.3% | ||
| Q2 24 | 0.5% | 14.2% |
| Q1 26 | — | 10.5% | ||
| Q4 25 | -3.6% | 16.2% | ||
| Q3 25 | 29.1% | 9.5% | ||
| Q2 25 | -14.4% | -0.4% | ||
| Q1 25 | -16.3% | 9.0% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | -9.1% | 8.1% | ||
| Q2 24 | -3.4% | 9.6% |
| Q1 26 | — | $5.51 | ||
| Q4 25 | $-0.43 | $9.02 | ||
| Q3 25 | $3.61 | $4.98 | ||
| Q2 25 | $-1.70 | $-1.53 | ||
| Q1 25 | $-1.87 | $4.32 | ||
| Q4 24 | — | $3.85 | ||
| Q3 24 | $-1.18 | $4.11 | ||
| Q2 24 | $-0.48 | $4.91 |
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 | $160.2M |
| Total DebtLower is stronger | $2.1B | — |
| Stockholders' EquityBook value | $-732.7M | $1.7B |
| Total Assets | $2.7B | $3.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $160.2M | ||
| Q4 25 | $125.1M | $187.1M | ||
| Q3 25 | $94.6M | $226.1M | ||
| Q2 25 | $110.6M | $208.5M | ||
| Q1 25 | $123.4M | $184.4M | ||
| Q4 24 | — | $164.3M | ||
| Q3 24 | $34.6M | $200.5M | ||
| Q2 24 | $7.0M | $163.1M |
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $795.7M | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | — | $730.6M | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $-732.7M | $1.6B | ||
| Q3 25 | $-695.3M | $1.6B | ||
| Q2 25 | $-1.0B | $1.5B | ||
| Q1 25 | $-862.3M | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $-672.2M | $1.5B | ||
| Q2 24 | $-566.4M | $1.5B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $2.7B | $3.4B | ||
| Q3 25 | $2.7B | $3.4B | ||
| Q2 25 | $2.8B | $3.3B | ||
| Q1 25 | $2.8B | $3.4B | ||
| Q4 24 | — | $3.3B | ||
| Q3 24 | $2.6B | $3.5B | ||
| Q2 24 | $100 | $3.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $103.8M | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $56.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $116.5M | $111.2M | ||
| Q3 25 | $23.5M | $112.5M | ||
| Q2 25 | $-1.8M | $167.6M | ||
| Q1 25 | $-29.3M | $65.1M | ||
| Q4 24 | — | $193.4M | ||
| Q3 24 | $-15.5M | $225.1M | ||
| Q2 24 | — | $130.8M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $70.4M | ||
| Q3 25 | $15.1M | $70.6M | ||
| Q2 25 | $-15.4M | $135.6M | ||
| Q1 25 | $-46.9M | $34.8M | ||
| Q4 24 | — | $167.8M | ||
| Q3 24 | $-32.2M | $204.6M | ||
| Q2 24 | — | $112.5M |
| Q1 26 | — | — | ||
| Q4 25 | 10.0% | 6.8% | ||
| Q3 25 | 1.4% | 6.7% | ||
| Q2 25 | -1.5% | 12.9% | ||
| Q1 25 | -4.7% | 3.6% | ||
| Q4 24 | — | 16.2% | ||
| Q3 24 | -2.9% | 20.1% | ||
| Q2 24 | — | 10.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 3.9% | ||
| Q3 25 | 0.8% | 4.0% | ||
| Q2 25 | 1.3% | 3.0% | ||
| Q1 25 | 1.8% | 3.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 2.2% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | 0.07× | 1.14× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | 2.49× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | 1.31× |
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% |
VMI
| Infrastructure | $803.2M | 78% |
| Agriculture | $226.0M | 22% |
