CLMT
Calumet, Inc.
Oil & Gas Exploration & Production
Market Cap$2.78B
5Y Perf.+1148.2%
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Stock Comparison
CLMT vs GLP vs CAPL vs DKL
Revenue, margins, valuation, and 5-year total return — side by side.
GLP
Global Partners LP
Oil & Gas Midstream
Market Cap$1.65B
5Y Perf.+377.9%
CAPL
CrossAmerica Partners LP
Oil & Gas Refining & Marketing
Market Cap$827M
5Y Perf.+43.6%
DKL
Delek Logistics Partners, LP
Oil & Gas Midstream
Market Cap$2.71B
5Y Perf.+114.4%
CLMT vs GLP vs CAPL vs DKL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CLMT | GLP | CAPL | DKL |
|---|---|---|---|---|
| Industry | Oil & Gas Exploration & Production | Oil & Gas Midstream | Oil & Gas Refining & Marketing | Oil & Gas Midstream |
| Market Cap | $2.78B | $1.65B | $827M | $2.71B |
| Revenue (TTM) | $4.17B | $19.29B | $2.80B | $1.06B |
| Net Income (TTM) | $-189M | $128M | $57M | $170M |
| Gross Margin | 5.7% | 5.0% | 14.7% | 19.2% |
| Operating Margin | -0.2% | 1.3% | 4.1% | 16.5% |
| Forward P/E | 419.3x | 15.3x | 20.5x | 14.6x |
| Total Debt | $382M | $1.62B | $908M | $35M |
| Cash & Equiv. | $125M | $12M | $3M | $11M |
CLMT vs GLP vs CAPL vs DKL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CLMT
GLP
CAPL
DKL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Calumet, Inc. (CLMT) | 100 | 1248.2 | +1148.2% |
| Global Partners LP (GLP) | 100 | 477.9 | +377.9% |
| CrossAmerica Partne… (CAPL) | 100 | 143.6 | +43.6% |
| Delek Logistics Par… (DKL) | 100 | 214.4 | +114.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CLMT vs GLP vs CAPL vs DKL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: DKL leads in 3 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. CrossAmerica Partners LP is the stronger pick specifically for capital preservation and lower volatility and dividend income and shareholder returns. CLMT and GLP also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
CLMT
Calumet, Inc.
The Long-Run Compounder
CLMT is the clearest fit if your priority is long-term compounding.
- 7.6% 10Y total return vs GLP's 463.7%
- +170.3% vs CAPL's +6.8%
Best for: long-term compounding
GLP
Global Partners LP
The Growth Play
GLP is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth 8.1%, EPS growth -12.4%, 3Y rev CAGR -0.6%
- Lower volatility, beta 0.26, current ratio 1.14x
- 8.1% revenue growth vs CAPL's -10.6%
Best for: growth exposure and sleep-well-at-night
CAPL
CrossAmerica Partners LP
The Income Pick
CAPL is the #2 pick in this set and the best alternative if income & stability and defensive is your priority.
- Dividend streak 2 yrs, beta 0.03, yield 9.7%
- Beta 0.03, yield 9.7%, current ratio 0.72x
- Beta 0.03 vs DKL's 0.34
- 9.7% yield, 2-year raise streak, vs DKL's 8.7%, (1 stock pays no dividend)
Best for: income & stability and defensive
DKL
Delek Logistics Partners, LP
The Value Play
DKL carries the broadest edge in this set and is the clearest fit for value and quality.
- Lower P/E (14.6x vs 20.5x)
- 16.0% margin vs CLMT's -4.5%
- 6.1% ROA vs CLMT's -6.9%, ROIC 14.1% vs 5.0%
Best for: value and quality
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | GLP | 8.1% revenue growth vs CAPL's -10.6% |
| Value | DKL | Lower P/E (14.6x vs 20.5x) |
| Quality / Margins | DKL | 16.0% margin vs CLMT's -4.5% |
| Stability / Safety | CAPL | Beta 0.03 vs DKL's 0.34 |
| Dividends | CAPL | 9.7% yield, 2-year raise streak, vs DKL's 8.7%, (1 stock pays no dividend) |
| Momentum (1Y) | CLMT | +170.3% vs CAPL's +6.8% |
| Efficiency (ROA) | DKL | 6.1% ROA vs CLMT's -6.9%, ROIC 14.1% vs 5.0% |
CLMT vs GLP vs CAPL vs DKL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2023
CLMT vs GLP vs CAPL vs DKL — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLDKLLAGGINGCAPL
Who Leads Where
DKL leads in 2 of 6 categories
GLP leads 1 • CLMT leads 1 • CAPL leads 1 • 1 tied
Explore the data ↓CAPLCrossAmerica Partners…
1leads
GLPGlobal Partners LP
1leads
CLMTCalumet, Inc.
1leads
DKLDelek Logistics Partn…
2leads
6 Total Categories
CATEGORYLEADERvs CLMTvs GLPMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
DKL5/6
Valuation MetricsMultiples, price ratios, and targets
GLP3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
DKL4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
CLMT4/6
Risk & VolatilityBeta, volatility, and downside exposure
CAPL2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
DKL leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
GLP is the larger business by revenue, generating $19.3B annually — 18.2x DKL's $1.1B. DKL is the more profitable business, keeping 16.0% of every revenue dollar as net income compared to CLMT's -4.5%. On growth, DKL holds the edge at +19.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $4.2B | $19.3B | $2.8B | $1.1B |
| EBITDAEarnings before interest/tax | $33M | $349M | $211M | $310M |
| Net IncomeAfter-tax profit | -$189M | $128M | $57M | $170M |
| Free Cash FlowCash after capex | $85M | $132M | $75M | $112M |
| Gross MarginGross profit ÷ Revenue | +5.7% | +5.0% | +14.7% | +19.2% |
| Operating MarginEBIT ÷ Revenue | -0.2% | +1.3% | +4.1% | +16.5% |
| Net MarginNet income ÷ Revenue | -4.5% | +0.7% | +2.0% | +16.0% |
| FCF MarginFCF ÷ Revenue | +2.0% | +0.7% | +2.7% | +10.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +3.6% | +15.9% | -100.0% | +19.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -94.7% | +4.1% | +2.4% | -17.8% |
DKL leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
GLP leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 15.5x trailing earnings, DKL trades at a 33% valuation discount to GLP's 23.1x P/E. On an enterprise value basis, CAPL's 5.9x EV/EBITDA is more attractive than CLMT's 15.0x.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| Market CapShares × price | $2.8B | $1.6B | $827M | $2.7B |
| Enterprise ValueMkt cap + debt − cash | $3.0B | $3.3B | $1.7B | $2.7B |
| Trailing P/EPrice ÷ TTM EPS | -82.26x | 23.10x | 19.89x | 15.47x |
| Forward P/EPrice ÷ next-FY EPS est. | 419.35x | 15.28x | 20.45x | 14.60x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 14.98x | 9.75x | 5.85x | 8.81x |
| Price / SalesMarket cap ÷ Revenue | 0.67x | 0.09x | 0.23x | 2.68x |
| Price / BookPrice ÷ Book value/share | — | 2.47x | — | 447.14x |
| Price / FCFMarket cap ÷ FCF | 49.18x | 8.53x | 14.83x | — |
GLP leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
DKL leads this category, winning 4 of 9 comparable metrics.
Profitability & Efficiency
DKL delivers a 19.2% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $19 for GLP. GLP carries lower financial leverage with a 2.40x debt-to-equity ratio, signaling a more conservative balance sheet compared to DKL's 5.75x. On the Piotroski fundamental quality scale (0–9), CLMT scores 7/9 vs DKL's 4/9, reflecting strong financial health.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | — | +18.6% | — | +19.2% |
| ROA (TTM)Return on assets | -6.9% | +3.3% | +5.7% | +6.1% |
| ROICReturn on invested capital | +5.0% | +5.7% | +18.1% | +14.1% |
| ROCEReturn on capital employed | +2.9% | +6.9% | +23.4% | +8.3% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 | 5 | 4 |
| Debt / EquityFinancial leverage | — | 2.40x | — | 5.75x |
| Net DebtTotal debt minus cash | $257M | $1.6B | $905M | $24M |
| Cash & Equiv.Liquid assets | $125M | $12M | $3M | $11M |
| Total DebtShort + long-term debt | $382M | $1.6B | $908M | $35M |
| Interest CoverageEBIT ÷ Interest expense | 1.81x | 2.75x | 3.67x | 1.66x |
DKL leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
CLMT leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in CLMT five years ago would be worth $57,388 today (with dividends reinvested), compared to $15,644 for CAPL. Over the past 12 months, CLMT leads with a +170.3% total return vs CAPL's +6.8%. The 3-year compound annual growth rate (CAGR) favors GLP at 23.8% vs CAPL's 10.9% — a key indicator of consistent wealth creation.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +64.1% | +17.2% | +10.2% | +13.4% |
| 1-Year ReturnPast 12 months | +170.3% | +7.7% | +6.8% | +47.9% |
| 3-Year ReturnCumulative with dividends | +84.2% | +89.7% | +36.5% | +45.6% |
| 5-Year ReturnCumulative with dividends | +473.9% | +168.6% | +56.4% | +85.3% |
| 10-Year ReturnCumulative with dividends | +762.4% | +463.7% | +89.1% | +207.4% |
| CAGR (3Y)Annualised 3-year return | +22.6% | +23.8% | +10.9% | +13.3% |
CLMT leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
CAPL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
CAPL is the less volatile stock with a 0.03 beta — it tends to amplify market swings less than DKL's 0.34 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. CAPL currently trades 91.8% from its 52-week high vs GLP's 86.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.28x | 0.26x | 0.03x | 0.34x |
| 52-Week HighHighest price in past year | $36.94 | $56.51 | $23.62 | $55.89 |
| 52-Week LowLowest price in past year | $11.38 | $39.58 | $19.61 | $37.50 |
| % of 52W HighCurrent price vs 52-week peak | +86.8% | +86.3% | +91.8% | +91.3% |
| RSI (14)Momentum oscillator 0–100 | 59.6 | 55.3 | 53.1 | 49.1 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 43K | 45K | 63K |
CAPL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — CAPL and DKL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: CLMT as "Hold", GLP as "Sell", CAPL as "Hold", DKL as "Hold". Consensus price targets imply 9.7% upside for DKL (target: $56) vs -5.6% for GLP (target: $46). For income investors, CAPL offers the higher dividend yield at 9.68% vs GLP's 7.59%.
| Metric | CLMTCalumet, Inc. | GLPGlobal Partners LP | CAPLCrossAmerica Part… | DKLDelek Logistics P… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Sell | Hold | Hold |
| Price TargetConsensus 12-month target | $31.00 | $46.00 | — | $56.00 |
| # AnalystsCovering analysts | 23 | 9 | 15 | 10 |
| Dividend YieldAnnual dividend ÷ price | — | +7.6% | +9.7% | +8.7% |
| Dividend StreakConsecutive years of raises | 0 | 1 | 2 | 5 |
| Dividend / ShareAnnual DPS | — | $3.70 | $2.10 | $4.45 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.6% | 0.0% | +0.4% |
Evenly matched — CAPL and DKL each lead in 1 of 2 comparable metrics.
Key Takeaway
DKL leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). GLP leads in 1 (Valuation Metrics). 1 tied.
Best OverallDelek Logistics Partners, LP (DKL)Leads 2 of 6 categories
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CLMT vs GLP vs CAPL vs DKL: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is CLMT or GLP or CAPL or DKL a better buy right now?
For growth investors, Global Partners LP (GLP) is the stronger pick with 8.
1% revenue growth year-over-year, versus -10. 6% for CrossAmerica Partners LP (CAPL). Delek Logistics Partners, LP (DKL) offers the better valuation at 15. 5x trailing P/E (14. 6x forward), making it the more compelling value choice. Analysts rate Calumet, Inc. (CLMT) a "Hold" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — CLMT or GLP or CAPL or DKL?
On trailing P/E, Delek Logistics Partners, LP (DKL) is the cheapest at 15.
5x versus Global Partners LP at 23. 1x. On forward P/E, Delek Logistics Partners, LP is actually cheaper at 14. 6x.
03Which is the better long-term investment — CLMT or GLP or CAPL or DKL?
Over the past 5 years, Calumet, Inc.
(CLMT) delivered a total return of +473. 9%, compared to +56. 4% for CrossAmerica Partners LP (CAPL). Over 10 years, the gap is even starker: CLMT returned +762. 4% versus CAPL's +89. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — CLMT or GLP or CAPL or DKL?
By beta (market sensitivity over 5 years), CrossAmerica Partners LP (CAPL) is the lower-risk stock at 0.
03β versus Delek Logistics Partners, LP's 0. 34β — meaning DKL is approximately 1144% more volatile than CAPL relative to the S&P 500. On balance sheet safety, Global Partners LP (GLP) carries a lower debt/equity ratio of 2% versus 6% for Delek Logistics Partners, LP — giving it more financial flexibility in a downturn.
05Which is growing faster — CLMT or GLP or CAPL or DKL?
By revenue growth (latest reported year), Global Partners LP (GLP) is pulling ahead at 8.
1% versus -10. 6% for CrossAmerica Partners LP (CAPL). On earnings-per-share growth, the picture is similar: CrossAmerica Partners LP grew EPS 109. 6% year-over-year, compared to -12. 4% for Global Partners LP. Over a 3-year CAGR, GLP leads at -0. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — CLMT or GLP or CAPL or DKL?
Delek Logistics Partners, LP (DKL) is the more profitable company, earning 17.
4% net margin versus -0. 8% for Calumet, Inc. — meaning it keeps 17. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: DKL leads at 18. 0% versus 1. 0% for GLP. At the gross margin level — before operating expenses — DKL leads at 20. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is CLMT or GLP or CAPL or DKL more undervalued right now?
On forward earnings alone, Delek Logistics Partners, LP (DKL) trades at 14.
6x forward P/E versus 419. 3x for Calumet, Inc. — 404. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DKL: 9. 7% to $56. 00.
08Which pays a better dividend — CLMT or GLP or CAPL or DKL?
In this comparison, CAPL (9.
7% yield), DKL (8. 7% yield), GLP (7. 6% yield) pay a dividend. CLMT does not pay a meaningful dividend and should not be held primarily for income.
09Is CLMT or GLP or CAPL or DKL better for a retirement portfolio?
For long-horizon retirement investors, Global Partners LP (GLP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
26), 7. 6% yield, +463. 7% 10Y return). Both have compounded well over 10 years (GLP: +463. 7%, CLMT: +762. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between CLMT and GLP and CAPL and DKL?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: CLMT is a small-cap quality compounder stock; GLP is a small-cap income-oriented stock; CAPL is a small-cap income-oriented stock; DKL is a small-cap deep-value stock. GLP, CAPL, DKL pay a dividend while CLMT does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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