CVR Energy vs World Kinect
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The short version
- World Kinect is the larger business, with $36.9B of revenue in fiscal 2025 against $7.2B for CVR Energy, about 5.2 times as much.
- CVR Energy grew revenue faster (−5.9%, against −12.5%).
- CVR Energy kept more of each dollar of sales as operating profit (2.5% operating margin, against −1.5%).
- World Kinect turned more of its sales into free cash flow (0.6% FCF margin, against −0.6%).
- CVR Energy earned a higher return on the capital invested in it (9.1%, against −20.9%).
| Latest fiscal year | CVI · FY25 | WKC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.8B | $1.9B |
| Revenue | $7.2B | $36.9B |
| Free cash flow | −$41.0M | $227M |
| Net income | $27.0M | −$614M |
| Growth | ||
| Revenue growth | −5.9% | −12.5% |
| 5-year growth | 12.8% | 12.6% |
| Share count change | 0.0% | −6.1% |
| Profitability | ||
| Gross margin | 4.8% | 2.6% |
| Operating margin | 2.5% | −1.5% |
| Net margin | 0.4% | −1.7% |
| FCF margin | −0.6% | 0.6% |
| Return on capital | 9.1% | −20.9% |
| Return on equity | 3.8% | −37.8% |
| Balance sheet | ||
| Net debt | $1.3B | $504M |
| Net debt / EBITDA | 2.2x | — |
| Dividends and buybacks | $0.0M | $126M |
| Valuation & quality | ||
| P/E | 85.5x | — |
| Piotroski F-score | 8 | 5 |
Revenue
FY16
CVI $4.8B
WKC $27.0B
FY17
CVI $6.0B
WKC $33.7B
FY18
CVI $7.1B
WKC $39.8B
FY19
CVI $6.4B
WKC $36.8B
FY20
CVI $3.9B
WKC $20.4B
FY21
CVI $7.2B
WKC $31.3B
FY22
CVI $10.9B
WKC $59.0B
FY23
CVI $9.2B
WKC $47.7B
FY24
CVI $7.6B
WKC $42.2B
FY25
CVI $7.2B
WKC $36.9B
CVI
WKC
Operating margin
FY16
CVI 1.5%
WKC 0.7%
FY17
CVI 2.4%
WKC 0.1%
FY18
CVI 7.5%
WKC 0.7%
FY19
CVI 9.1%
WKC 0.8%
FY20
CVI −8.5%
WKC 0.7%
FY21
CVI 1.2%
WKC 0.5%
FY22
CVI 8.8%
WKC 0.5%
FY23
CVI 12.1%
WKC 0.4%
FY24
CVI 0.8%
WKC 0.5%
FY25
CVI 2.5%
WKC −1.5%
CVI
WKC
Free cash flow
FY16
CVI $134M
WKC $14.6M
FY17
CVI $128M
WKC −$188M
FY18
CVI $526M
WKC −$255M
FY19
CVI $626M
WKC $148M
FY20
CVI −$34.0M
WKC $553M
FY21
CVI $172M
WKC $134M
FY22
CVI $776M
WKC $59.9M
FY23
CVI $743M
WKC $184M
FY24
CVI $225M
WKC $192M
FY25
CVI −$41.0M
WKC $227M
CVI
WKC
Return on capital
FY16
CVI 3.0%
WKC 7.5%
FY17
CVI 6.1%
WKC 1.5%
FY18
CVI 17.6%
WKC 7.9%
FY19
CVI 18.4%
WKC 9.8%
FY20
CVI −11.8%
WKC 4.5%
FY21
CVI 4.2%
WKC 6.0%
FY22
CVI 41.3%
WKC 10.1%
FY23
CVI 41.0%
WKC 6.3%
FY24
CVI 2.6%
WKC 6.0%
FY25
CVI 9.1%
WKC −20.9%
CVI
WKC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.