CLMT
Calumet, Inc.
Oil & Gas Exploration & Production
Market Cap$2.78B
5Y Perf.+1148.2%
Compare Stocks
5 / 10Try these comparisons:
Stock Comparison
CLMT vs MMLP vs CAPL vs DKL vs NGL
Revenue, margins, valuation, and 5-year total return — side by side.
MMLP
Martin Midstream Partners L.P.
Oil & Gas Midstream
Market Cap$102M
5Y Perf.+4.0%
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%
NGL
NGL Energy Partners LP
Oil & Gas Midstream
Market Cap$2.02B
5Y Perf.+220.2%
CLMT vs MMLP vs CAPL vs DKL vs NGL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | CLMT | MMLP | CAPL | DKL | NGL |
|---|---|---|---|---|---|
| Industry | Oil & Gas Exploration & Production | Oil & Gas Midstream | Oil & Gas Refining & Marketing | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $2.78B | $102M | $827M | $2.71B | $2.02B |
| Revenue (TTM) | $4.17B | $711M | $2.80B | $1.06B | $3.03B |
| Net Income (TTM) | $-189M | $-20M | $57M | $170M | $159M |
| Gross Margin | 5.7% | 22.3% | 14.7% | 19.2% | 46.8% |
| Operating Margin | -0.2% | 5.8% | 4.1% | 16.5% | 13.3% |
| Forward P/E | 419.3x | — | 20.5x | 14.6x | 48.0x |
| Total Debt | $382M | $525M | $908M | $35M | $3.08B |
| Cash & Equiv. | $125M | $49K | $3M | $11M | $6M |
CLMT vs MMLP vs CAPL vs DKL vs NGL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
CLMT
MMLP
CAPL
DKL
NGL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Calumet, Inc. (CLMT) | 100 | 1248.2 | +1148.2% |
| Martin Midstream Pa… (MMLP) | 100 | 104.0 | +4.0% |
| CrossAmerica Partne… (CAPL) | 100 | 143.6 | +43.6% |
| Delek Logistics Par… (DKL) | 100 | 214.4 | +114.4% |
| NGL Energy Partners… (NGL) | 100 | 320.2 | +220.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: CLMT vs MMLP vs CAPL vs DKL vs NGL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: DKL leads in 5 of 7 categories (5-stock set), making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. CrossAmerica Partners LP is the stronger pick specifically for capital preservation and lower volatility. NGL also leads in specific categories worth noting. 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 DKL's 207.4%
Best for: long-term compounding
MMLP
Martin Midstream Partners L.P.
The Lower-Volatility Pick
Among these 5 stocks, MMLP doesn't own a clear edge in any measured category.
Best for: energy exposure
CAPL
CrossAmerica Partners LP
The Income Pick
CAPL is the #2 pick in this set and the best alternative if income & stability is your priority.
- Dividend streak 2 yrs, beta 0.03, yield 9.7%
- Beta 0.03 vs NGL's 0.65
Best for: income & stability
DKL
Delek Logistics Partners, LP
The Growth Play
DKL carries the broadest edge in this set and is the clearest fit for growth exposure.
- Rev growth 7.7%, EPS growth 10.4%, 3Y rev CAGR -0.7%
- 7.7% revenue growth vs NGL's -16.5%
- Lower P/E (14.6x vs 48.0x)
- 16.0% margin vs CLMT's -4.5%
Best for: growth exposure
NGL
NGL Energy Partners LP
The Defensive Pick
NGL ranks third and is worth considering specifically for sleep-well-at-night and defensive.
- Lower volatility, beta 0.65, current ratio 1.30x
- Beta 0.65, yield 14.2%, current ratio 1.30x
- +400.9% vs MMLP's -14.8%
Best for: sleep-well-at-night and defensive
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | DKL | 7.7% revenue growth vs NGL's -16.5% |
| Value | DKL | Lower P/E (14.6x vs 48.0x) |
| Quality / Margins | DKL | 16.0% margin vs CLMT's -4.5% |
| Stability / Safety | CAPL | Beta 0.03 vs NGL's 0.65 |
| Dividends | DKL | 8.7% yield, 5-year raise streak, vs NGL's 14.2%, (1 stock pays no dividend) |
| Momentum (1Y) | NGL | +400.9% vs MMLP's -14.8% |
| Efficiency (ROA) | DKL | 6.1% ROA vs CLMT's -6.9%, ROIC 14.1% vs 5.0% |
CLMT vs MMLP vs CAPL vs DKL vs NGL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2023
FY 2025
CLMT vs MMLP vs CAPL vs DKL vs NGL — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLDKLLAGGINGCAPL
Who Leads Where
DKL leads in 2 of 6 categories
MMLP leads 1 • NGL leads 1 • CLMT leads 0 • CAPL leads 0 • 2 tied
Explore the data ↓CAPLCrossAmerica Partners…
0leads
CLMTCalumet, Inc.
0leads
NGLNGL Energy Partners LP
1leads
MMLPMartin Midstream Part…
1leads
DKLDelek Logistics Partn…
2leads
6 Total Categories
CATEGORYLEADERvs MMLPvs NGLMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
DKL4/6
Valuation MetricsMultiples, price ratios, and targets
MMLP2/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
DKL4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
NGL5/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
DKL leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
CLMT is the larger business by revenue, generating $4.2B annually — 5.9x MMLP's $711M. 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. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $4.2B | $711M | $2.8B | $1.1B | $3.0B |
| EBITDAEarnings before interest/tax | $33M | $91M | $211M | $310M | $672M |
| Net IncomeAfter-tax profit | -$189M | -$20M | $57M | $170M | $159M |
| Free Cash FlowCash after capex | $85M | $15M | $75M | $112M | $291M |
| Gross MarginGross profit ÷ Revenue | +5.7% | +22.3% | +14.7% | +19.2% | +46.8% |
| Operating MarginEBIT ÷ Revenue | -0.2% | +5.8% | +4.1% | +16.5% | +13.3% |
| Net MarginNet income ÷ Revenue | -4.5% | -2.8% | +2.0% | +16.0% | +5.3% |
| FCF MarginFCF ÷ Revenue | +2.0% | +2.2% | +2.7% | +10.6% | +9.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +3.6% | -2.5% | -100.0% | +19.0% | -41.3% |
| EPS Growth (YoY)Latest quarter vs prior year | -94.7% | -5.6% | +2.4% | -17.8% | +4.2% |
DKL leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
MMLP leads this category, winning 2 of 6 comparable metrics.
Valuation Metrics
At 15.5x trailing earnings, DKL trades at a 22% valuation discount to CAPL's 19.9x P/E. On an enterprise value basis, CAPL's 5.9x EV/EBITDA is more attractive than CLMT's 15.0x.
| Metric | CLMTCalumet, Inc. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| Market CapShares × price | $2.8B | $102M | $827M | $2.7B | $2.0B |
| Enterprise ValueMkt cap + debt − cash | $3.0B | $626M | $1.7B | $2.7B | $5.1B |
| Trailing P/EPrice ÷ TTM EPS | -82.26x | -7.03x | 19.89x | 15.47x | -27.22x |
| Forward P/EPrice ÷ next-FY EPS est. | 419.35x | — | 20.45x | 14.60x | 48.03x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 14.98x | 6.45x | 5.85x | 8.81x | 8.55x |
| Price / SalesMarket cap ÷ Revenue | 0.67x | 0.14x | 0.23x | 2.68x | 0.58x |
| Price / BookPrice ÷ Book value/share | — | — | — | 447.14x | 3.09x |
| Price / FCFMarket cap ÷ FCF | 49.18x | 7.26x | 14.83x | — | 39.15x |
MMLP leads this category, winning 2 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 $133 for NGL. NGL carries lower financial leverage with a 4.42x 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 MMLP's 3/9, reflecting strong financial health.
| Metric | CLMTCalumet, Inc. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | — | — | — | +19.2% | +132.6% |
| ROA (TTM)Return on assets | -6.9% | -3.9% | +5.7% | +6.1% | +3.6% |
| ROICReturn on invested capital | +5.0% | +8.0% | +18.1% | +14.1% | +6.4% |
| ROCEReturn on capital employed | +2.9% | +11.4% | +23.4% | +8.3% | +8.3% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 3 | 5 | 4 | 7 |
| Debt / EquityFinancial leverage | — | — | — | 5.75x | 4.42x |
| Net DebtTotal debt minus cash | $257M | $525M | $905M | $24M | $3.1B |
| Cash & Equiv.Liquid assets | $125M | $49,000 | $3M | $11M | $6M |
| Total DebtShort + long-term debt | $382M | $525M | $908M | $35M | $3.1B |
| Interest CoverageEBIT ÷ Interest expense | 1.81x | 0.72x | 3.67x | 1.66x | 2.15x |
DKL leads this category, winning 4 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
NGL leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in NGL five years ago would be worth $72,578 today (with dividends reinvested), compared to $11,489 for MMLP. Over the past 12 months, NGL leads with a +400.9% total return vs MMLP's -14.8%. The 3-year compound annual growth rate (CAGR) favors NGL at 81.3% vs MMLP's 2.1% — a key indicator of consistent wealth creation.
| Metric | CLMTCalumet, Inc. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +64.1% | -3.3% | +10.2% | +13.4% | +64.9% |
| 1-Year ReturnPast 12 months | +170.3% | -14.8% | +6.8% | +47.9% | +400.9% |
| 3-Year ReturnCumulative with dividends | +84.2% | +6.4% | +36.5% | +45.6% | +496.0% |
| 5-Year ReturnCumulative with dividends | +473.9% | +14.9% | +56.4% | +85.3% | +625.8% |
| 10-Year ReturnCumulative with dividends | +762.4% | -57.5% | +89.1% | +207.4% | +80.4% |
| CAGR (3Y)Annualised 3-year return | +22.6% | +2.1% | +10.9% | +13.3% | +81.3% |
NGL leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
Evenly matched — CAPL and NGL each lead in 1 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 NGL's 0.65 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. NGL currently trades 97.8% from its 52-week high vs MMLP's 73.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | CLMTCalumet, Inc. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.28x | 0.31x | 0.03x | 0.34x | 0.65x |
| 52-Week HighHighest price in past year | $36.94 | $3.54 | $23.62 | $55.89 | $16.69 |
| 52-Week LowLowest price in past year | $11.38 | $2.21 | $19.61 | $37.50 | $3.01 |
| % of 52W HighCurrent price vs 52-week peak | +86.8% | +73.4% | +91.8% | +91.3% | +97.8% |
| RSI (14)Momentum oscillator 0–100 | 59.6 | 48.2 | 53.1 | 49.1 | 66.4 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 20K | 45K | 63K | 237K |
Evenly matched — CAPL and NGL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — DKL and NGL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: CLMT as "Hold", MMLP as "Buy", CAPL as "Hold", DKL as "Hold", NGL as "Hold". Consensus price targets imply 9.7% upside for DKL (target: $56) vs -87.8% for NGL (target: $2). For income investors, NGL offers the higher dividend yield at 14.16% vs MMLP's 0.79%.
| Metric | CLMTCalumet, Inc. | MMLPMartin Midstream … | CAPLCrossAmerica Part… | DKLDelek Logistics P… | NGLNGL Energy Partne… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Hold | Hold | Hold |
| Price TargetConsensus 12-month target | $31.00 | — | — | $56.00 | $2.00 |
| # AnalystsCovering analysts | 23 | 11 | 15 | 10 | 17 |
| Dividend YieldAnnual dividend ÷ price | — | +0.8% | +9.7% | +8.7% | +14.2% |
| Dividend StreakConsecutive years of raises | 0 | 2 | 2 | 5 | 2 |
| Dividend / ShareAnnual DPS | — | $0.02 | $2.10 | $4.45 | $2.31 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | 0.0% | +0.4% | +0.1% |
Evenly matched — DKL and NGL each lead in 1 of 2 comparable metrics.
Key Takeaway
DKL leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). MMLP leads in 1 (Valuation Metrics). 2 tied.
Best OverallDelek Logistics Partners, LP (DKL)Leads 2 of 6 categories
Loading custom metrics...
CLMT vs MMLP vs CAPL vs DKL vs NGL: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is CLMT or MMLP or CAPL or DKL or NGL a better buy right now?
For growth investors, Delek Logistics Partners, LP (DKL) is the stronger pick with 7.
7% revenue growth year-over-year, versus -16. 5% for NGL Energy Partners LP (NGL). 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 Martin Midstream Partners L. P. (MMLP) a "Buy" — based on 11 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 MMLP or CAPL or DKL or NGL?
On trailing P/E, Delek Logistics Partners, LP (DKL) is the cheapest at 15.
5x versus CrossAmerica Partners LP at 19. 9x. On forward P/E, Delek Logistics Partners, LP is actually cheaper at 14. 6x.
03Which is the better long-term investment — CLMT or MMLP or CAPL or DKL or NGL?
Over the past 5 years, NGL Energy Partners LP (NGL) delivered a total return of +625.
8%, compared to +14. 9% for Martin Midstream Partners L. P. (MMLP). Over 10 years, the gap is even starker: CLMT returned +762. 4% versus MMLP's -57. 5%. 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 MMLP or CAPL or DKL or NGL?
By beta (market sensitivity over 5 years), CrossAmerica Partners LP (CAPL) is the lower-risk stock at 0.
03β versus NGL Energy Partners LP's 0. 65β — meaning NGL is approximately 2264% more volatile than CAPL relative to the S&P 500. On balance sheet safety, NGL Energy Partners LP (NGL) carries a lower debt/equity ratio of 4% versus 6% for Delek Logistics Partners, LP — giving it more financial flexibility in a downturn.
05Which is growing faster — CLMT or MMLP or CAPL or DKL or NGL?
By revenue growth (latest reported year), Delek Logistics Partners, LP (DKL) is pulling ahead at 7.
7% versus -16. 5% for NGL Energy Partners LP (NGL). On earnings-per-share growth, the picture is similar: CrossAmerica Partners LP grew EPS 109. 6% year-over-year, compared to -184. 6% for Martin Midstream Partners L. P.. Over a 3-year CAGR, DKL leads at -0. 7% 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 MMLP or CAPL or DKL or NGL?
Delek Logistics Partners, LP (DKL) is the more profitable company, earning 17.
4% net margin versus -2. 0% for Martin Midstream Partners L. P. — 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. 3% for CLMT. 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 MMLP or CAPL or DKL or NGL 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 MMLP or CAPL or DKL or NGL?
In this comparison, NGL (14.
2% yield), CAPL (9. 7% yield), DKL (8. 7% yield), MMLP (0. 8% yield) pay a dividend. CLMT does not pay a meaningful dividend and should not be held primarily for income.
09Is CLMT or MMLP or CAPL or DKL or NGL better for a retirement portfolio?
For long-horizon retirement investors, CrossAmerica Partners LP (CAPL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
03), 9. 7% yield). Both have compounded well over 10 years (CAPL: +89. 1%, NGL: +80. 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 MMLP and CAPL and DKL and NGL?
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; MMLP is a small-cap quality compounder stock; CAPL is a small-cap income-oriented stock; DKL is a small-cap deep-value stock; NGL is a small-cap income-oriented stock. MMLP, CAPL, DKL, NGL 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.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform all of them.
Revenue Growth>
%
(CLMT: 3.6% · MMLP: -2.5%)You Might Also Compare
Based on how these companies actually compete and overlap — not just which sector they're filed under.