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World Kinect

WKC NYSE Oil & Gas Refining & Marketing Financials FY2016–FY2025

World Kinect's revenue fell 12.4% to $36.9 billion in fiscal 2025. Its operating margin was −1.5%, down from 0.5% a year earlier. Free cash flow was $227 million, up 18.6%. It paid out $126 million in dividends and buybacks, 56% of free cash flow. The diluted share count fell 6.0%.

Last close · Oct 23, 2026

$36.54

0.1%
Value it Compare
Revenue Total sales reported in the income statement.
$36.9B
12.5% vs prior year
Operating margin Operating income as a share of revenue.
−1.5%
2.0 pts
Net income Profit after all expenses, interest and tax.
−$614M
1,011.6%
Free cash flow Cash from operations minus capital spending.
$227M
18.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−20.9%
26.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. Net debt to EBITDA for fiscal 2025 is blank: the 10-K's structured data doesn't include every figure it needs.

What World Kinect does

No business description yet.

Legal name
WORLD KINECT CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000789460-26-000015
0000789460

Revenue and margins

World Kinect had $36.9B of revenue in fiscal 2025, down 12.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $227M in fiscal 2025, 0.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

World Kinect returned $126M to shareholders in fiscal 2025, 56% of free cash flow. The diluted share count fell 6.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value World Kinect yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$504M and divides by 55.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably World Kinect can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $652M$298M$304M$383M$194M
Debt incl. finance leases $509M$846M$888M$881M$697M
Net debt / EBITDA −0.6x1.4x1.9x1.6x—
Debt / equity 0.3x0.4x0.5x0.5x0.5x
Interest coverage 3.0x2.3x1.5x1.8x−5.0x
Current ratio 1.3x1.1x1.1x1.2x1.1x
Quick ratio 1.1x1.0x1.0x1.0x0.9x
Total assets $5.9B$8.2B$7.4B$6.7B$5.9B
Total liabilities $4.0B$6.2B$5.4B$4.8B$4.6B
Shareholders' equity $1.9B$2.0B$1.9B$1.9B$1.3B
Net debt (− = net cash) −$144M$547M$584M$498M$504M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$5.7M

5 insiders

Of sales under plans

50%

$2.9M

DateInsiderTradeSharesPriceValueFiling
Sep 2, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 10,000 $35.40 $0.4M Form 4
Aug 13, 2026 Jose-Miguel TejadaEVP, Chief Financial Officer Sold 6,000 $37.16 $0.2M Form 4
Aug 3, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 10,000 $39.41 $0.4M Form 4
Jul 29, 2026 John L ManleyDirector Sold 10,000 $39.88 $0.4M Form 4
Jul 29, 2026 Paul H StebbinsDirector Sold 33,445 $39.93 $1.3M Form 4
Jul 10, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 25,000 $35.04 $0.9M Form 4
Jul 2, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 10,000 $33.38 $0.3M Form 4
Jun 8, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 19,300 $30.17 $0.6M Form 4
Jun 5, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 700 $30.00 $0.0M Form 4
Jun 2, 2026 Michael J KasbarExecutive Chairman, Director Sold plan 10,000 $29.15 $0.3M Form 4
May 11, 2026 Richard A KassarDirector Sold 10,000 $26.97 $0.3M Form 4
May 5, 2026 Paul H StebbinsDirector Sold 20,828 $27.69 $0.6M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✕
F-score 6 / 97 / 95 / 9
Accruals ratio −2.8%−2.7%−14.4%
Altman Z'' 1.842.120.60

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
World Kinect WKC $1.9B −12.5% −1.5% 0.6% −20.9% — 5
PBF Energy PBF $9.2B −11.4% −0.2% −2.7% −0.6% 6.7x 4 Compare →
HF Sinclair DINO $21.8B −6.0% 3.5% 3.2% 6.6% 11.6x 8 Compare →
Valero Energy VLO $123.3B −5.5% 2.6% — 7.2% 17.4x 6 Compare →
Phillips 66 PSX $114.0B −7.5% — — 11.2% 16.2x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $27.0B $33.7B $39.8B $36.8B $20.4B $31.3B $59.0B $47.7B $42.2B $36.9B
Gross profit $899M $932M $1.0B $1.1B $852M $788M $1.1B $1.1B $1.0B $948M
Operating income $189M $45.6M $260M $300M $138M $143M $273M $198M $211M −$565M
Interest expense $43.7M $66.3M $74.8M $80.0M $48.6M $47.2M $117M $136M $116M $112M
Pretax income $142M −$21.1M $185M $237M $162M $100M $145M $66.7M $95.5M −$740M
Income tax $15.7M $149M $55.9M $56.2M $52.1M $25.8M $29.2M $13.0M $27.6M −$128M
Net income $127M −$170M $128M $179M $110M $73.7M $114M $52.9M $67.4M −$614M
Diluted EPS $1.81 −$2.50 $1.89 $2.69 $1.71 $1.16 $1.82 $0.86 $1.13 −$10.99
Diluted shares 0.07B 0.07B 0.07B 0.07B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $50.7M −$134M −$183M $229M $604M $173M $139M $271M $260M $293M
Capital expenditure $36.1M $54.0M $72.3M $80.9M $51.3M $39.2M $78.6M $87.6M $68.2M $65.6M
Free cash flow $14.6M −$188M −$255M $148M $553M $134M $59.9M $184M $192M $227M
Depreciation and amortization $82.3M $86.0M $81.5M $87.4M $85.8M $81.0M $108M $105M $106M $98.2M
Stock-based compensation $19.2M $21.2M $8.3M $23.6M −$0.9M $19.6M $17.6M $24.2M $28.1M $25.5M
Acquisitions $431M $121M $21.3M $0.0M $129M $37.1M $644M $13.7M $40.0M $154M
Share buybacks $41.2M $61.9M $20.0M $65.4M $68.3M $50.5M $48.7M $60.1M $100M $85.0M
Dividends paid $16.6M $16.3M $16.2M $21.1M $25.6M $28.7M $31.0M $34.0M $38.5M $41.3M
Dividends and buybacks $57.8M $78.2M $36.2M $86.5M $93.9M $79.2M $79.7M $94.1M $139M $126M
Balance sheet
Cash and short-term investments $699M $372M $212M $186M $659M $652M $298M $304M $383M $194M
Total debt $1.2B $910M $701M $629M $525M $509M $846M $888M $881M $697M
Finance lease liabilities $0.0M $0.0M $0.0M $18.7M $18.2M $21.2M $15.4M $15.7M $30.0M $4.4M
Current assets $3.8B $3.9B $4.0B $4.2B $2.6B $4.0B $5.2B $4.5B $4.0B $3.5B
Current liabilities $2.2B $2.7B $2.9B $3.2B $1.7B $3.1B $4.6B $4.0B $3.4B $3.3B
Inventory $458M $505M $523M $593M $344M $478M $780M $665M $514M $454M
Property and equipment, net $311M $330M $350M $361M $343M $349M $484M $515M $513M $348M
Total assets $5.4B $5.6B $5.7B $6.0B $4.5B $5.9B $8.2B $7.4B $6.7B $5.9B
Total liabilities $3.5B $3.8B $3.8B $4.1B $2.6B $4.0B $6.2B $5.4B $4.8B $4.6B
Shareholders' equity $1.9B $1.7B $1.8B $1.9B $1.9B $1.9B $2.0B $1.9B $1.9B $1.3B
Margins
Gross margin 3.3% 2.8% 2.6% 3.0% 4.2% 2.5% 1.8% 2.2% 2.4% 2.6%
Operating margin 0.7% 0.1% 0.7% 0.8% 0.7% 0.5% 0.5% 0.4% 0.5% −1.5%
EBITDA margin 1.0% 0.4% 0.9% 1.1% 1.1% 0.7% 0.7% 0.6% 0.8% −1.3%
Net margin 0.5% −0.5% 0.3% 0.5% 0.5% 0.2% 0.2% 0.1% 0.2% −1.7%
FCF margin 0.1% −0.6% −0.6% 0.4% 2.7% 0.4% 0.1% 0.4% 0.5% 0.6%
Returns
Return on capital 7.5% 1.5% 7.9% 9.8% 4.5% 6.0% 10.1% 6.3% 6.0% −20.9%
Return on capital employed 6.3% 1.5% 9.3% 10.8% 4.9% 5.0% 8.5% 5.8% 6.4% −19.3%
Return on equity 6.6% −9.3% 7.2% 9.7% 5.8% 3.9% 5.9% 2.7% 3.5% −37.8%
Return on assets 2.6% −3.1% 2.3% 3.1% 2.1% 1.4% 1.6% 0.7% 1.0% −9.8%
Growth
Revenue growth −11.1% 24.7% 18.0% −7.4% −44.7% 53.9% 88.4% −19.2% −11.6% −12.5%
Net income growth −27.5% −234.6% — 40.1% −38.7% −32.8% 54.8% −53.6% 27.4% −1,011.6%
EPS growth −26.7% −238.1% — 42.3% −36.4% −32.2% 56.9% −52.8% 31.4% −1,072.6%
FCF growth −96.3% −1,384.9% — — 273.8% −75.8% −55.3% 206.7% 4.4% 18.6%
Share count change −1.3% −2.4% −0.6% −1.8% −3.8% −1.1% −1.0% −1.6% −3.6% −6.1%
Financial health
Net debt / EBITDA 1.8x 4.1x 1.4x 1.1x −0.6x −0.6x 1.4x 1.9x 1.6x —
Debt / equity 0.6x 0.5x 0.4x 0.3x 0.3x 0.3x 0.4x 0.5x 0.5x 0.5x
Interest coverage 4.3x 0.7x 3.5x 3.8x 2.8x 3.0x 2.3x 1.5x 1.8x −5.0x
Current ratio 1.8x 1.5x 1.4x 1.3x 1.6x 1.3x 1.1x 1.1x 1.2x 1.1x
Quick ratio 1.6x 1.3x 1.2x 1.1x 1.4x 1.1x 1.0x 1.0x 1.0x 0.9x
Capital allocation
Capex / revenue 0.1% 0.2% 0.2% 0.2% 0.3% 0.1% 0.1% 0.2% 0.2% 0.2%
Stock comp / revenue 0.1% 0.1% 0.0% 0.1% 0.0% 0.1% 0.0% 0.1% 0.1% 0.1%
Payouts / FCF 395.9% — — 58.5% 17.0% 59.1% 133.1% 51.2% 72.3% 55.6%
Quality scores
Piotroski F-score 4.0 4.0 5.0 7.0 7.0 6.0 6.0 6.0 7.0 5.0
Altman Z'' 3.8 2.8 2.9 2.9 3.7 2.7 1.9 1.8 2.1 0.6
Accruals ratio 1.5% −0.7% 5.5% −0.9% −9.4% −1.9% −0.4% −2.8% −2.7% −14.4%

Source: SEC EDGAR XBRL filings (CIK 0000789460). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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