Calumet Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Calumet Inc (CLMT) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Calumet Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 4,600M vs 1,611,730M combined for its competitors (0.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+26.4% annualized vs trailing 12 months), vs accelerating (+20.3%) for its tracked peer group.
- Growth: Calumet Inc generated 41.7% revenue growth year over year in Q2 2026, vs 45.9% for its competitors combined.
- Profitability: Its -6.6% net margin compares with 15.0% for the peer group.
- Scale: Calumet Inc ranks #15 of 13 companies by market capitalization in the Oil & Gas Integrated Operations industry, holding 0.2% of industry market cap.
- Peer revenue share: Calumet Inc accounted for 0.3% of combined revenue among its tracked peer group, down from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $2.99M compares with $4.90M for the peer group (0.6x).
- Structure: Calumet Inc operates in the following segments: Revenue, Segment Benchmark, Performance Brands, Intersubsegment Eliminations; and reports the following subsidiaries: Calumet Specialty Products Partners, L.P..
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
CLMT Sales vs. its Competitors, Q2 2026
Calumet Inc reported revenue growth of 41.67 % year on year in Q2 2026, below its competitors' combined revenue growth of 45.88 %.
With a net margin of -6.60 %, Calumet Inc reported lower profitability than its competitors (14.99 %).
Calumet Inc generated 0.30 % of the combined sales of its peer group, down from 0.31 % a year earlier.
API endpoints for this dataset
Calumet Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Calumet Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Calumet Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Calumet Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Calumet Inc's competitor groups requires a Commercial License.
For context: the Oil & Gas Integrated Operations industry grew revenue 19.9% year over year, combined, vs 41.7% for Calumet Inc. Calumet Inc's share of combined industry revenue moved from 0.10% to 0.11%, a gain of 0.02 percentage points.
Calumet Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Calumet Inc | No | Yes | No | No |
| Competitors combined (83) | ||||
| High-Confidence Competitors (8) | ||||
| Similar-Size Competitors (3) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 87.50 % (7 of 8) | 62.50 % (5 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
CLMT Stock Performance relative to its Competitors
CLMT Stock Performance relative to High-Confidence Competitors
CLMT Stock Performance relative to Similar-Size Competitors
CLMT Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Sharkninja Inc | 282.9% | Outperformed |
| 2 | Gran Tierra Energy Inc | 282.9% | Outperformed |
| 3 | Valero Energy Corp | 282.9% | Outperformed |
| 4 | Marathon Petroleum Corporation | 282.9% | Outperformed |
| 5 | Apa Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Calumet Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Calumet Inc's Comment on Competition and Industry Peers
Competition in our markets is from a combination of large, integrated petroleum
companies, independent refiners, wax production companies and oilfield services
companies. Many of our competitors are substantially larger than us and are
engaged on a national or international basis in many segments of the petroleum
products business, including exploration and production, refining, transportation
and marketing. These competitors may have greater flexibility in responding
to or absorbing market changes occurring in one or more of these business segments.
We distinguish our competitors according to the products that they produce.
Set forth below is a description of our significant competitors according to
product category.
Naphthenic Lubricating Oils. Our primary competitors in producing naphthenic
lubricating oils include Ergon Refining, Inc., Cross Oil Refining and Marketing,
Inc., San Joaquin Refining Co., Inc. and Martin Midstream Partners L.P.
Paraffinic Lubricating Oils. Our primary competitors in producing paraffinic
lubricating oils include ExxonMobil Corporation, Motiva Enterprises, LLC, Phillips
66, Petro-Canada, HollyFrontier Corporation, Chevron Corporation, Sonneborn
Refined Products and Royal Dutch Shell plc.
Paraffin Waxes. Our primary competitors in producing paraffin waxes include
ExxonMobil, HollyFrontier Corporation, The International Group Inc. and Sonneborn
Refined Products.
Solvents. Our primary competitors in producing solvents include CITGO Petroleum
Corporation, ExxonMobil Chemical, Phillips 66 and Royal Dutch Shell plc.
Polyolester-Based Specialty Products. Our primary competitors in producing polyolester-based
specialty products include Chemtura Corporation, BASF Corporation and JX Nippon
Oil and Energy.
Packaged and Synthetic Specialty Products. Our primary competitors in retail and commercial packaged and synthetic specialty products include ExxonMobil (Mobil 1), Valvoline, Inc. and BP Lubricants USA (Castrol). Our primary competitors in industrial packaged and synthetic specialty products include ExxonMobil Corporation, Royal Dutch Shell plc and Chevron.
Fuel Products and By-Products. Our primary competitors in producing fuel products
in the local markets in which we operate include Delek US Holdings, Flint Hills
Resources, Northern Tier Energy LP, ExxonMobil, Valero Energy Corporation, Phillips
66, Cenex, Alon USA and Marathon Petroleum Corporation.
Oilfield Services. Our primary competitors in servicing oilfields in the local
markets in which we operate include Schlumberger, Halliburton, Newpark Resources
and other regional competition.
Our ability to compete effectively depends on our responsiveness to customer needs and our ability to maintain competitive prices and product and service offerings. We believe that our flexibility and customer responsiveness differentiate us from many of our larger competitors. However, it is possible that new or existing competitors could enter the markets in which we operate, which could negatively affect our financial performance.
Publicly Traded Peers of Calumet Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Calumet Inc |
3,471.92 | 4,600.30 |
 Exxon Mobil Corporation |
686,784.60 | 396,627.00 |
 Chevron Corp |
420,022.00 | 215,261.00 |
 Conocophillips |
165,466.53 | 63,345.00 |
 Marathon Petroleum Corporation |
104,367.20 | 174,800.00 |
 Valero Energy Corp |
98,738.25 | 153,327.00 |
| SUBTOTAL | 2,490,416.17 | 1,869,147.24 |
Sign in to see all competitors of Calumet Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Calumet Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Calumet Inc's Competitors Named by the Company
Competitive relationships identified from Calumet Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Synthetic Specialty Products | Company report | 85% |
| Chevron Corporation | Company report | 85% |
| Chemtura Corporation | Company report | 85% |
| Valero Energy Corporation | Company report | 85% |
| ExxonMobil Corporation | Company report | 85% |
| CITGO Petroleum Corporation | Company report | 85% |
| Delek US Holdings | Company report | 85% |
| Sonneborn Refined Products | Company report | 85% |
| BASF Corporation | Company report | 85% |
| Marathon Petroleum Corporation | Company report | 85% |
| HollyFrontier Corporation | Company report | 85% |
| Polyolester-Based Specialty Products | Company report | 85% |
| Northern Tier Energy | Company report | 85% |
| San Joaquin Refining Co | Company report | 85% |
| Royal Dutch Shell plc | Company report | 85% |
| Pbf Energy Inc | Company report | 85% |
| Sunoco Lp | Company report | 85% |
| Cvr Energy Inc | Company report | 85% |
| Par Pacific Holdings Inc | Company report | 85% |
| Phillips 66 | Company report | 85% |
| Valvoline Inc | Company report | 85% |
| Ashland Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Calumet Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Calumet Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Calumet Inc | Revenue, Segment Benchmark 22.63 % |
| Chevron Corp | Reportable Segment, Aggregation before Other Operating 99.73 % |
| Marathon Petroleum Corporation | Refining and Marketing 94.77 % |
| Valero Energy Corp | Refining 96.26 % |
| Phillips 66 | Refining 70.79 % |
| Williams companies inc | Transmission, Power & Gulf 47.62 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Calumet Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Calumet Inc | 3,472 | 2,987,208 | -88,831 |
| Exxon Mobil Corporation | 686,785 | 6,838,397 | 707,224 |
| Chevron Corp | 420,022 | 5,001,533 | 487,116 |
| Conocophillips | 165,467 | 6,398,485 | 936,263 |
| Marathon Petroleum Corporation | 104,367 | 9,448,649 | 854,865 |
| Valero Energy Corp | 98,738 | 15,628,071 | 1,364,998 |
| PEERS TOTAL | 2,486,944 | 4,904,779 | 480,432 |
Calumet Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Phillips 66 | United States 81.30 % |
| Occidental Petroleum Corporation | Non-US 20.75 % |
| Sharkninja Inc | North America 66.47 % |
| Sm Energy Co | Permian Basin 50.83 % |
| Ingevity Corporation | North America 58.96 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Calumet Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 13 companies in Calumet Inc's industry classification, broader than the peer set above. Market cap in millions of $.Calumet Inc ranks #15 of 13 companies by market capitalization in its industry, holding 0.17 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,848, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Exxon Mobil Corporation | 692,425 | 34.31 % |
| 2 | Chevron Corp | 420,022 | 20.81 % |
| 3 | Conocophillips | 165,467 | 8.20 % |
| 4 | Bp Plc | 131,740 | 6.53 % |
| 5 | Equinor Asa | 1,234 | 5.2% |
| 6 | Marathon Petroleum Corporation | 1,234 | 5.2% |
| 7 | Valero Energy Corp | 1,234 | 5.2% |
| 8 | Phillips 66 | 1,234 | 5.2% |
| 9 | Suncor Energy inc | 1,234 | 5.2% |
| 11 | Ypf Sociedad An nima | 1,234 | 5.2% |
| 15 | Calumet Inc | 3,472 | 0.17 % |
Market cap and industry share for the rest of Calumet Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Calumet Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 11 | Ypf Sociedad An nima | 15,141 | 5.35 % |
| 13 | Pbf Energy Inc | 8,111 | 94.28 % |
| 14 | Delek Us Holdings Inc | 1,234 | 12.3% |
| 15 | Calumet Inc | 3,472 | 123.04 % |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Calumet Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Calumet Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Oil & Gas Integrated Operations industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (25 companies). See the full Oil & Gas Integrated Operations industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 6.75 % | 21.37 % (avg) | -14.6 pp |
| Operating Margin | 1.02 % | industry median | +0.9 pp |
| EBITDA Margin | 2.11 % | 16.66 % (avg) | -14.6 pp |
| Capital Intensity (Capex / Revenue) | 1.58 % | 4.43 % (avg) | -2.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Calumet Inc's Valuation vs Competitive Position
Valuation multiples vs the Oil & Gas Integrated Operations industry average (25 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Oil & Gas Integrated Operations industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 14.1x | - |
| EV / EBITDA | 58.5x | 9.6x | +49.0x |
| P/B | -3.3x | 2.6x | -5.9x |
| Return on Equity | - | industry aggregate | - |
| Return on Invested Capital | 3.26 % | 9.58 % (avg) | -6.32 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Calumet Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2014 | 2015 | 2017 | 2018 | 2019 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -21.13 % | 0.00 % | 3.51 % | -10.34 % | -1.28 % | -10.82 % | 0.22 % | -1.24 % |
| Operating Margin | 1.71 % | 1.71 % | 4.05 % | 3.51 % | 2.21 % | 6.39 % | 0.19 % | 2.63 % |
| Return on Invested Capital | 1.69 % | 1.83 % | 6.35 % | 6.72 % | 4.69 % | - | 1.23 % | 10.30 % |
| P/E | - | - | - | - | - | 27.0x | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Calumet Inc's Strategic Group Map
Calumet Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Calumet Inc's trailing-12-month revenue growth of 13.0% and operating margin of 1.0% compares with an average of 13.9% growth and 5.2% margin across its 8 closest peers by combined growth, margin and ROIC -- Calumet Inc sits below that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Calumet Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Calumet Inc falls in the Question Mark quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 14.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Calumet Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,848 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.58 % vs industry average 4.43 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Calumet Inc's dedicated Suppliers and Customers pages, not here.
Calumet Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Calumet Inc falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Calumet Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+26.4% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.01x).
Opportunities
- Industry revenue growing at a healthy 14.7% median pace.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Calumet Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Calumet Inc | 0.12 | 1.06 | - |
| Exxon Mobil Corporation | 0.12 | 1.13 | 0.16 |
| Chevron Corp | 0.01 | 1.16 | 0.21 |
| Conocophillips | 0.49 | 1.36 | 0.45 |
| Marathon Petroleum Corporation | 0.26 | 1.29 | 1.92 |
| Valero Energy Corp | 0.40 | 1.65 | 0.31 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Calumet Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Calumet Inc | Q2 2026 | +41.7 % | - |
| Exxon Mobil Corporation | Q3 2026 | +32.7 % | +98.4 % |
| Chevron Corp | Q2 2026 | +56.3 % | +385.6 % |
| Conocophillips | Q2 2026 | +36.8 % | +98.8 % |
| Marathon Petroleum Corporation | Q3 2026 | +61.0 % | +283.3 % |
| Valero Energy Corp | Q3 2026 | +43.3 % | +540.5 % |
| PEERS TOTAL | +23.7 % | +142.4 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Calumet Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Calumet Inc | Q2 2026 | +33.3 % | +181.6 % |
| Exxon Mobil Corporation | Q3 2026 | - | -17.7 % |
| Chevron Corp | Q2 2026 | +36.3 % | +22.3 % |
| Conocophillips | Q2 2026 | +32.0 % | - |
| Marathon Petroleum Corporation | Q3 2026 | +40.4 % | +19.0 % |
| Valero Energy Corp | Q3 2026 | +20.7 % | - |
Calumet Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Calumet Inc | - | - | - |
| Exxon Mobil Corporation | 8.87% | 9.71% | 15.39% |
| Chevron Corp | 6.40% | 6.49% | 10.85% |
| Conocophillips | 7.55% | 8.36% | 14.30% |
| Marathon Petroleum Corporation | 17.15% | 17.01% | 61.37% |
| Valero Energy Corp | 21.19% | 26.74% | 47.45% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Calumet Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Calumet Inc | - | 0.75 |
| Exxon Mobil Corporation | 17.12 | 1.73 |
| Chevron Corp | 20.27 | 1.95 |
| Conocophillips | 18.07 | 2.61 |
| Marathon Petroleum Corporation | 7.30 | 0.60 |
| Valero Energy Corp | 7.80 | 0.64 |
| PEERS AVERAGE | 13.65 | 1.33 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.