NasdaqGS:CLMT

Stock Analysis Report

Calumet Specialty Products Partners

Executive Summary

Calumet Specialty Products Partners, L.P.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Calumet Specialty Products Partners's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CLMT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-19.7%

CLMT

-0.8%

US Oil and Gas

-1.1%

US Market


1 Year Return

-72.8%

CLMT

-56.3%

US Oil and Gas

-13.6%

US Market

Return vs Industry: CLMT underperformed the US Oil and Gas industry which returned -56.1% over the past year.

Return vs Market: CLMT underperformed the US Market which returned -10.7% over the past year.


Shareholder returns

CLMTIndustryMarket
7 Day-19.7%-0.8%-1.1%
30 Day-72.9%-37.3%-17.8%
90 Day-73.5%-52.2%-22.5%
1 Year-72.8%-72.8%-54.5%-56.3%-11.9%-13.6%
3 Year-73.9%-73.9%-52.0%-56.7%12.1%4.9%
5 Year-95.9%-96.3%-54.6%-61.7%30.5%16.3%

Price Volatility Vs. Market

How volatile is Calumet Specialty Products Partners's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Calumet Specialty Products Partners undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CLMT ($1.05) is trading below our estimate of fair value ($3)

Significantly Below Fair Value: CLMT is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CLMT is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: CLMT is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CLMT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CLMT is overvalued based on its PB Ratio (8.5x) compared to the US Oil and Gas industry average (0.5x).

Future Growth

How is Calumet Specialty Products Partners forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

72.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLMT is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: CLMT is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CLMT's is expected to become profitable in the next 3 years.

Revenue vs Market: CLMT's revenue is expected to decline over the next 3 years (-13.2% per year).

High Growth Revenue: CLMT's revenue is forecast to decline over the next 3 years (-13.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CLMT's Return on Equity is forecast to be very high in 3 years time (49.4%).

Past Performance

How has Calumet Specialty Products Partners performed over the past 5 years?

27.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CLMT is currently unprofitable.

Growing Profit Margin: CLMT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CLMT is unprofitable, but has reduced losses over the past 5 years at a rate of 27.7% per year.

Accelerating Growth: Unable to compare CLMT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CLMT is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-11.4%).


Return on Equity

High ROE: CLMT has a negative Return on Equity (-201.85%), as it is currently unprofitable.

Financial Health

How is Calumet Specialty Products Partners's financial position?


Financial Position Analysis

Short Term Liabilities: CLMT's short term assets ($512.1M) do not cover its short term liabilities ($565.0M).

Long Term Liabilities: CLMT's short term assets ($512.1M) do not cover its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: CLMT's debt to equity ratio (6217.1%) is considered high.

Reducing Debt: CLMT's debt to equity ratio has increased from 201.7% to 6217.1% over the past 5 years.


Balance Sheet

Inventory Level: CLMT has a high level of physical assets or inventory.

Debt Coverage by Assets: CLMT's debt is not covered by short term assets (assets are 0.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CLMT has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CLMT is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 30.9% per year.

Dividend

What is Calumet Specialty Products Partners's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CLMT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CLMT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CLMT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CLMT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: CLMT is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CLMT's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Tim Go (52yo)

4.25s

Tenure

US$1,486,139

Compensation

Mr. Timothy Go, also known as Tim, has been the Chief Executive Officer of Calumet GP LLC, the General Partner of Calumet Specialty Products Partners LP since January 1, 2016. Mr. Go is responsible for Cal ...


CEO Compensation Analysis

Compensation vs Market: Tim's total compensation ($USD1.49M) is above average for companies of similar size in the US market ($USD605.16K).

Compensation vs Earnings: Tim's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Timothy Go
Chief Executive Officer of Calumet GP4.25yrsUS$1.49m0.32% $247.2k
F. Grube
Executive Vice Chairman of Calumet GP9.25yrsUS$697.55k1.3% $1.0m
Bruce Fleming
Executive Vice President of Strategy & Growth - Calumet GP4.08yrsUS$1.22m0.37% $286.1k
H. Jennings
Executive VP & CFO of Calumet GP0.25yrno data0.14% $105.3k
Chris Hodges
Alpha IRno datano datano data
Scott Obermeier
Executive Vice President of Commercial0.25yrno datano data

2.2yrs

Average Tenure

52yo

Average Age

Experienced Management: CLMT's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
F. Grube
Executive Vice Chairman of Calumet GP9.25yrsUS$697.55k1.3% $1.0m
Fred Fehsenfeld
Chairman of the Board of Calumet GP14.58yrsUS$179.00k3.4% $2.6m
Robert Funk
Independent Director of Calumet GP14.25yrsUS$183.57k0.17% $132.8k
Stephen Mawer
CEO of Calumet GP4.08yrsUS$195.50k0.12% $90.7k
James Carter
Independent Director of Calumet GP14.25yrsUS$194.00k0.23% $182.7k
Daniel Sheets
Independent Director of Calumet GP1.5yrsUS$182.50k0.023% $18.1k
Amy Schumacher
Director of Calumet GP5.58yrsUS$179.00k0.11% $88.7k
Daniel Sajkowski
Director of Calumet GP5.58yrsUS$177.50k0.10% $79.0k

7.4yrs

Average Tenure

64.5yo

Average Age

Experienced Board: CLMT's board of directors are considered experienced (7.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Calumet Specialty Products Partners, L.P.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Calumet Specialty Products Partners, L.P.
  • Ticker: CLMT
  • Exchange: NasdaqGS
  • Founded: 1916
  • Industry: Oil and Gas Refining and Marketing
  • Sector: Energy
  • Implied Market Cap: US$77.832m
  • Market Cap: US$76.275m
  • Shares outstanding: 79.42m
  • Website: https://www.calumetspecialty.com

Number of Employees


Location

  • Calumet Specialty Products Partners, L.P.
  • 2780 Waterfront Parkway East Drive
  • Suite 200
  • Indianapolis
  • Indiana
  • 46214
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CLMTNasdaqGS (Nasdaq Global Select)YesCommon UnitsUSUSDJan 2006
C1ADB (Deutsche Boerse AG)YesCommon UnitsDEEURJan 2006

Biography

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products, which are used primarily as raw material components for basic industrial, consumer, and automotive goods. The Fuel Products segment provides fuel and fuel-related products, including gasoline, diesel, jet fuel, asphalt, and heavy fuel oils, as well as resells purchased crude oil to third party customers. Calumet GP, LLC serves as the general partner for Calumet Specialty Products Partners, L.P. The company was founded in 1916 and is headquartered in Indianapolis, Indiana. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 09:57
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.