WKC NYSE Oil & Gas Refining & Marketing Financials FY2016βFY2025
World Kinect had $36.9B of revenue in fiscal 2025, down 12.5% on the year before. Over five years, revenue changed +12.6% a year on average.
Hi! I read World Kinectβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β12.5%
No. Sales fell 12.5% last year.
Does it make a profit?
β1.7%
No. It lost money last year.
Does profit turn into cash?
0.6%
Partly. 0.6% of sales ends up as free cash.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
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.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days World Kinect did it, and the next one. Share prices often move a lot on those days.
Next results
October 29, 2026
Thursday Β· in 3 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 23, 2026 | Q2 '26 | After the market closes | 8-K β |
| Apr 23, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 19, 2026 | Q4 '25 | After the market closes | 8-K β |
| Oct 23, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 31, 2025 | Q2 '25 | After the market closes | 8-K β |
| Apr 24, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 20, 2025 | Q4 '24 | After the market closes | 8-K β |
| Oct 24, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· World Kinect had $36.9B of revenue in fiscal 2025, down 12.5% on the year before. Over five years, revenue changed +12.6% a year on average. Its operating margin was β1.5%, down 2.0Β pts: of every 100 in sales, about β2 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· World Kinect lost $614M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $227M in fiscal 2025, 0.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· World Kinect returned $126M to shareholders in fiscal 2025, 56% of free cash flow. The diluted share count fell 6.1%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $5.7M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$5.7M
5 insiders
Of sales under plans
50%
$2.9M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 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 |
Can it carry its debts, and how well does it use its money?
KIRA Β· World Kinect owes $504M more than it holds in cash.
Cash, debt and the ratios that show how comfortably World Kinect can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $652M | $298M | $304M | $383M | $194M |
| Debt incl. finance leases | $509M | $846M | $888M | $881M | $697M |
| Net debt / EBITDA | β0.6x | 1.4x | 1.9x | 1.6x | β |
| Debt / equity | 0.3x | 0.4x | 0.5x | 0.5x | 0.5x |
| Interest coverage | 3.0x | 2.3x | 1.5x | 1.8x | β5.0x |
| Current ratio | 1.3x | 1.1x | 1.1x | 1.2x | 1.1x |
| Quick ratio | 1.1x | 1.0x | 1.0x | 1.0x | 0.9x |
| 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 (β = net cash) | β$144M | $547M | $584M | $498M | $504M |
KIRA Β· Its return on capital was β20.9%: every 100 invested in the business earned about β21 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· World Kinect passes 5 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | β | β | β |
| Cash from operations is positive | β | β | β |
| Return on assets rose | β | β | β |
| Cash from operations exceeds net income | β | β | β |
| Debt fell relative to assets | β | β | β |
| Current ratio rose | β | β | β |
| Share count didn't rise | β | β | β |
| Gross margin rose | β | β | β |
| Revenue rose relative to assets | β | β | β |
| F-score | 6 / 9 | 7 / 9 | 5 / 9 |
| Accruals ratio | β2.8% | β2.7% | β14.4% |
| Altman Z'' | 1.84 | 2.12 | 0.60 |
What does the share cost, and how does it compare?
KIRA Β· At $36.54 a share, the company is worth $1.9B.
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β the answer depends entirely on what you put in.
In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.
Value per share
β
Adds net cash of β$504M and divides by 55.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
KIRA Β· World Kinect grew sales faster than 0 of its 4 similar companies.
Each companyβs latest fiscal year. Fiscal years end in different months, so periods donβt line up exactly.
In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| World Kinect WKC | $1.9B | β12.5% | β1.5% | 0.6% | β20.9% | β | 5 | |
| PBF Energy PBF | $9.2B | β11.4% | β0.2% | β2.7% | β0.6% | 6.7x | 4 | Compare β |
| HF Sinclair DINO | $21.8B | β6.0% | 3.5% | 3.2% | 6.6% | 11.6x | 8 | Compare β |
| Valero Energy VLO | $123.3B | β5.5% | 2.6% | β | 7.2% | 17.4x | 6 | Compare β |
| Phillips 66 PSX | $114.0B | β7.5% | β | β | 11.2% | 16.2x | 8 | Compare β |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | β$565M |
| Interest expense | $43.7M | $66.3M | $74.8M | $80.0M | $48.6M | $47.2M | $117M | $136M | $116M | $112M |
| Pretax income | $142M | β$21.1M | $185M | $237M | $162M | $100M | $145M | $66.7M | $95.5M | β$740M |
| Income tax | $15.7M | $149M | $55.9M | $56.2M | $52.1M | $25.8M | $29.2M | $13.0M | $27.6M | β$128M |
| Net income | $127M | β$170M | $128M | $179M | $110M | $73.7M | $114M | $52.9M | $67.4M | β$614M |
| Diluted EPS | $1.81 | β$2.50 | $1.89 | $2.69 | $1.71 | $1.16 | $1.82 | $0.86 | $1.13 | β$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 | β$134M | β$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 | β$188M | β$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 | β$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% | β1.5% |
| EBITDA margin | 1.0% | 0.4% | 0.9% | 1.1% | 1.1% | 0.7% | 0.7% | 0.6% | 0.8% | β1.3% |
| Net margin | 0.5% | β0.5% | 0.3% | 0.5% | 0.5% | 0.2% | 0.2% | 0.1% | 0.2% | β1.7% |
| FCF margin | 0.1% | β0.6% | β0.6% | 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% | β20.9% |
| Return on capital employed | 6.3% | 1.5% | 9.3% | 10.8% | 4.9% | 5.0% | 8.5% | 5.8% | 6.4% | β19.3% |
| Return on equity | 6.6% | β9.3% | 7.2% | 9.7% | 5.8% | 3.9% | 5.9% | 2.7% | 3.5% | β37.8% |
| Return on assets | 2.6% | β3.1% | 2.3% | 3.1% | 2.1% | 1.4% | 1.6% | 0.7% | 1.0% | β9.8% |
| Growth | ||||||||||
| Revenue growth | β11.1% | 24.7% | 18.0% | β7.4% | β44.7% | 53.9% | 88.4% | β19.2% | β11.6% | β12.5% |
| Net income growth | β27.5% | β234.6% | β | 40.1% | β38.7% | β32.8% | 54.8% | β53.6% | 27.4% | β1,011.6% |
| EPS growth | β26.7% | β238.1% | β | 42.3% | β36.4% | β32.2% | 56.9% | β52.8% | 31.4% | β1,072.6% |
| FCF growth | β96.3% | β1,384.9% | β | β | 273.8% | β75.8% | β55.3% | 206.7% | 4.4% | 18.6% |
| Share count change | β1.3% | β2.4% | β0.6% | β1.8% | β3.8% | β1.1% | β1.0% | β1.6% | β3.6% | β6.1% |
| Financial health | ||||||||||
| Net debt / EBITDA | 1.8x | 4.1x | 1.4x | 1.1x | β0.6x | β0.6x | 1.4x | 1.9x | 1.6x | β |
| 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 | β5.0x |
| 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% | β | β | 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% | β0.7% | 5.5% | β0.9% | β9.4% | β1.9% | β0.4% | β2.8% | β2.7% | β14.4% |
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 β not investment advice. Check the original filings before relying on any figure.
