Par Pacific vs World Kinect
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KIRA’s take AI analyst
I put Par Pacific and World Kinect side by side, using each one’s latest annual report. Here is what stands out:
- World Kinect is the larger business, with $36.9B of revenue in fiscal 2025 against $7.5B for Par Pacific, about 4.9 times as much.
- Par Pacific grew revenue faster (−6.4%, against −12.5%).
- Par Pacific kept more of each dollar of sales as operating profit (7.2% operating margin, against −1.5%).
- Par Pacific turned more of its sales into free cash flow (4.0% FCF margin, against 0.6%).
- Par Pacific earned a higher return on the capital invested in it (19.3%, against −20.9%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Par Pacific
PARR
9/9
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
World Kinect
WKC
0/9
Side by side
Best in the row
| Latest fiscal year | PARR FY25 | WKC FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.1B | $1.9B |
| Revenue | $7.5B | $36.9B |
| Free cash flow | $296M | $227M |
| Net income | $369M | −$614M |
| Growth | ||
| Revenue growth | −6.4% | −12.5% |
| 5-year growth | 19.0% | 12.6% |
| Share count change | −9.1% | −6.1% |
| Profitability | ||
| Gross margin | — | 2.6% |
| Operating margin | 7.2% | −1.5% |
| Net margin | 5.0% | −1.7% |
| FCF margin | 4.0% | 0.6% |
| Return on capital | 19.3% | −20.9% |
| Return on equity | 27.3% | −37.8% |
| Balance sheet | ||
| Net debt | $653M | $504M |
| Net debt / EBITDA | 1.0x | — |
| Dividends and buybacks | $125M | $126M |
| Valuation & quality | ||
| P/E | 4.8x | — |
| Piotroski F-score | 6 | 5 |
Ten years
Revenue
FY16
PARR $1.9B
WKC $27.0B
FY17
PARR $2.4B
WKC $33.7B
FY18
PARR $3.4B
WKC $39.8B
FY19
PARR $5.4B
WKC $36.8B
FY20
PARR $3.1B
WKC $20.4B
FY21
PARR $4.7B
WKC $31.3B
FY22
PARR $7.3B
WKC $59.0B
FY23
PARR $8.2B
WKC $47.7B
FY24
PARR $8.0B
WKC $42.2B
FY25
PARR $7.5B
WKC $36.9B
PARR
WKC
Operating margin
FY16
PARR −1.1%
WKC 0.7%
FY17
PARR 3.9%
WKC 0.1%
FY18
PARR 2.4%
WKC 0.7%
FY19
PARR 2.7%
WKC 0.8%
FY20
PARR −10.2%
WKC 0.7%
FY21
PARR −0.2%
WKC 0.5%
FY22
PARR 6.0%
WKC 0.5%
FY23
PARR 8.3%
WKC 0.4%
FY24
PARR 0.6%
WKC 0.5%
FY25
PARR 7.2%
WKC −1.5%
PARR
WKC
Free cash flow
FY16
PARR −$48.2M
WKC $14.6M
FY17
PARR $74.8M
WKC −$188M
FY18
PARR $42.2M
WKC −$255M
FY19
PARR $21.7M
WKC $148M
FY20
PARR −$101M
WKC $553M
FY21
PARR −$57.2M
WKC $134M
FY22
PARR $400M
WKC $59.9M
FY23
PARR $497M
WKC $184M
FY24
PARR −$51.8M
WKC $192M
FY25
PARR $296M
WKC $227M
PARR
WKC
Return on capital
FY16
PARR −3.0%
WKC 7.5%
FY17
PARR 13.4%
WKC 1.5%
FY18
PARR 10.5%
WKC 7.9%
FY19
PARR 11.9%
WKC 9.8%
FY20
PARR −24.7%
WKC 4.5%
FY21
PARR −0.7%
WKC 6.0%
FY22
PARR 62.7%
WKC 10.1%
FY23
PARR 56.9%
WKC 6.3%
FY24
PARR 2.0%
WKC 6.0%
FY25
PARR 19.3%
WKC −20.9%
PARR
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.