What is World Kinect's operating income?

World Kinect's total operating income in 2025 was -$564.70 million, based on the following breakdown: Total Gross Profit: $947.80 million Total Operating Expenses: $1.51 billion

World Kinect (WKC) Financials

$37.29 -1.17 (-3.04%)

Closing price 03:59 PM Eastern

Extended Trading

$37.24 -0.05 (-0.14%)

As of 04:10 PM Eastern

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Annual Income Statements for World Kinect

This table shows World Kinect's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	225	175	127	-170	179	110	74	114	53	67	-614
Consolidated Net Income / (Loss)	221	171	126	-170	181	110	74	116	54	68	-612
Net Income / (Loss) Continuing Operations	221	171	126	-170	181	110	74	116	54	68	-612
Total Pre-Tax Income	275	218	142	-21	237	162	100	145	67	96	-740
Total Operating Income	277	246	189	46	300	138	143	273	198	211	-565
Total Gross Profit	496	495	486	504	1,112	485	788	1,089	1,058	1,026	948
Total Revenue	43,392	30,381	27,016	33,696	36,819	20,358	31,337	59,043	47,711	42,168	36,917
Operating Revenue	43,392	30,381	27,016	33,696	36,819	20,358	31,337	59,043	47,711	42,168	36,917
Total Cost of Revenue	42,896	29,886	26,530	33,192	35,707	19,873	30,549	57,954	46,652	41,142	35,969
Operating Cost of Revenue	42,893	29,886	26,530	33,192	35,707	19,873	30,549	57,954	46,652	41,142	35,969
Total Operating Expenses	219	250	297	458	812	347	646	816	860	816	1,513
Selling, General & Admin Expense	219	250	297	307	322	311	248	309	308	297	283
Other Operating Expenses / (Income)	-	-	-	-	470	-	387	507	512	483	437
Impairment Charge	-	0.00	0.00	92	-	26	4.70	0.60	33	29	690
Restructuring Charge	-	0.00	0.00	60	20	10	6.60	-0.80	7.20	7.10	103
Total Other Income / (Expense), net	-1.90	-28	-47	-67	-62	24	-43	-128	-131	-115	-175
Interest & Investment Income	-	-	-	-	-	-	-	-111	-128	-102	-101
Other Income / (Expense), net	-1.90	-28	-47	-67	-62	24	-43	-18	-3.60	-13	-74
Income Tax Expense	54	47	16	149	56	52	26	29	13	28	-128
Net Income / (Loss) Attributable to Noncontrolling Interest	-3.30	-3.90	0.00	-0.10	2.20	0.10	0.50	1.70	0.80	0.50	2.70
Basic Earnings per Share	$3.17	$2.49	$1.82	($2.50)	$2.71	$1.72	$1.17	$1.83	$0.86	$1.14	($10.99)
Weighted Average Basic Shares Outstanding	70.80M	70.20M	69.30M	68.10M	66.10M	63.70M	62.90M	62.30M	61.40M	59M	55.90M
Diluted Earnings per Share	$3.15	$2.47	$1.81	($2.50)	$2.69	$1.71	$1.16	$1.82	$0.86	$1.13	($10.99)
Weighted Average Diluted Shares Outstanding	71.30M	70.70M	69.80M	68.10M	66.50M	64M	63.30M	62.70M	61.70M	59.50M	55.90M
Weighted Average Basic & Diluted Shares Outstanding	70.80M	65.60M	69.50M	68.10M	65.41M	63.12M	63.44M	62.04M	59.85M	56.75M	51.28M
Cash Dividends to Common per Share	$0.15	$0.24	$0.24	$0.24	$0.36	$0.40	$0.48	$0.52	$0.56	$0.68	$0.77

This table shows World Kinect's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-35	27	108	34	-102	-21	-339	26	-280	26	48
Consolidated Net Income / (Loss)	-35	27	107	35	-101	-21	-339	28	-279	26	50
Net Income / (Loss) Continuing Operations	-35	27	107	35	-101	-21	-339	28	-280	26	50
Total Pre-Tax Income	-47	31	117	50	-101	-28	-449	39	-302	32	66
Total Operating Income	-15	63	45	72	30	-6.60	-345	63	-276	56	96
Total Gross Profit	232	254	245	268	259	230	232	250	235	271	365
Total Revenue	12,003	10,951	10,965	10,491	9,761	9,453	9,043	9,392	9,029	9,685	13,591
Operating Revenue	12,003	10,951	10,965	10,491	9,761	9,453	9,043	9,392	9,029	9,685	13,591
Total Cost of Revenue	11,771	10,697	10,720	10,223	9,502	9,222	8,811	9,142	8,794	9,414	13,226
Operating Cost of Revenue	11,771	10,697	10,720	10,223	9,502	9,222	8,811	9,142	8,794	9,414	13,226
Total Operating Expenses	248	191	200	196	229	237	577	187	511	215	269
Selling, General & Admin Expense	72	75	73	72	77	72	67	70	73	77	118
Other Operating Expenses / (Income)	136	116	119	123	125	105	106	112	114	131	145
Impairment Charge	33	0.00	2.40	1.20	25	45	399	0.00	247	0.00	-2.70
Restructuring Charge	7.20	0.20	5.60	0.00	1.30	15	6.00	4.90	77	6.70	8.90
Total Other Income / (Expense), net	-31	-33	71	-23	-131	-22	-104	-24	-26	-24	-30
Interest & Investment Income	-32	-29	-28	-24	-22	-23	-26	-26	-26	-26	-31
Other Income / (Expense), net	1.10	-3.90	99	1.30	-109	1.30	-78	1.80	0.60	2.20	0.80
Income Tax Expense	-12	3.30	9.70	15	-	-6.80	-110	11	-22	6.60	17
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.10	-0.20	-1.40	1.50	0.60	-0.20	0.30	2.40	0.20	-0.70	1.40
Basic Earnings per Share	($0.57)	$0.46	$1.81	$0.57	($1.70)	($0.37)	($6.06)	$0.46	($5.02)	$0.51	$0.94
Weighted Average Basic Shares Outstanding	61.40M	59.90M	59.80M	58.80M	59M	56.80M	56M	55.60M	55.90M	51.70M	51.30M
Diluted Earnings per Share	($0.56)	$0.45	$1.81	$0.57	($1.70)	($0.37)	($6.06)	$0.46	($5.02)	$0.50	$0.94
Weighted Average Diluted Shares Outstanding	61.70M	60.30M	60M	59.20M	59.50M	56.80M	56M	55.90M	55.90M	52M	51.60M
Weighted Average Basic & Diluted Shares Outstanding	59.85M	59.94M	59.09M	58.08M	56.75M	56.63M	55.54M	55.56M	51.28M	51.36M	51.15M

This table details how cash moves in and out of World Kinect's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	280	116	-337	-154	-26	473	-6.60	-354	5.90	79	-189
Net Cash From Operating Activities	448	51	-134	-183	229	604	173	139	271	260	293
Net Cash From Continuing Operating Activities	448	51	-134	-183	229	604	173	139	271	260	293
Net Income / (Loss) Continuing Operations	171	126	-170	129	181	110	74	116	54	68	-612
Consolidated Net Income / (Loss)	171	126	-170	129	181	110	74	116	54	68	-612
Depreciation Expense	66	82	86	82	87	86	81	108	105	106	98
Non-Cash Adjustments To Reconcile Net Income	12	15	146	51	57	8.70	74	114	103	168	897
Changes in Operating Assets and Liabilities, net	200	-173	-196	-444	-97	400	-55	-199	10	-82	-91
Net Cash From Investing Activities	-145	-274	159	286	-51	73	-58	-725	-101	65	-170
Net Cash From Continuing Investing Activities	-145	-274	159	286	-51	73	-58	-725	-101	65	-170
Purchase of Property, Plant & Equipment	-51	-36	-54	-72	-81	-51	-39	-79	-88	-68	-66
Acquisitions	-97	-431	-121	-21	0.00	-129	-37	-644	-14	-40	-154
Divestitures	-	-	0.00	0.00	31	260	25	0.00	9.30	209	23
Other Investing Activities, net	3.20	193	333	380	-0.40	-6.90	-7.10	-2.50	-9.10	-36	26
Net Cash From Financing Activities	-17	341	-362	-257	-205	-213	-114	237	-152	-231	-315
Net Cash From Continuing Financing Activities	-17	341	-362	-257	-205	-213	-114	237	-152	-231	-316
Repayment of Debt	-4,763	-4,289	-4,756	-6,409	-5,120	-2,215	-25	-6,616	-6,237	-3,884	-3,784
Repurchase of Common Equity	-71	-41	-62	-20	-65	-68	-51	-49	-60	-100	-85
Payment of Dividends	-15	-17	-16	-16	-21	-26	-29	-31	-34	-39	-41
Issuance of Debt	4,831	4,688	4,473	6,188	5,002	2,095	0.30	6,945	6,272	3,844	3,602
Issuance of Common Equity	-	-	-	-	-	-	0.00	0.00	40	0.00	0.00
Other Financing Activities, net	-	-	-	-	-	-	-9.70	-12	-133	-52	-7.80
Effect of Exchange Rate Changes	-5.50	-1.50	-	-	1.00	8.80	-7.80	-4.70	-12	-15	3.40

This table details how cash moves in and out of World Kinect's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-31	29	191	-151	9.20	74	-53	70	-280	-42	-16
Net Cash From Operating Activities	4.50	110	68	-39	120	114	28	116	34	-46	-21
Net Cash From Continuing Operating Activities	4.70	110	68	-38	120	114	28	116	34	-46	-21
Net Income / (Loss) Continuing Operations	-35	27	107	35	-101	-21	-339	28	-280	26	50
Consolidated Net Income / (Loss)	-35	27	107	35	-101	-21	-339	28	-280	26	50
Depreciation Expense	27	25	25	26	31	26	24	24	25	20	20
Non-Cash Adjustments To Reconcile Net Income	48	38	-74	28	176	75	496	33	292	14	59
Changes in Operating Assets and Liabilities, net	-35	20	11	-126	14	35	-153	31	-3.70	-106	-150
Net Cash From Investing Activities	-24	-17	181	-65	-34	-5.80	1.00	-	-165	-12	76
Net Cash From Continuing Investing Activities	-24	-17	181	-65	-34	-5.80	1.00	-	-165	-12	76
Purchase of Property, Plant & Equipment	-20	-18	-15	-18	-18	-15	-15	-14	-21	-14	-14
Other Investing Activities, net	0.40	0.60	-5.10	-46	15	9.40	-7.50	14	9.90	2.20	5.60
Net Cash From Financing Activities	-12	-64	-50	-48	-68	-32	-99	-33	-151	15	-73
Net Cash From Continuing Financing Activities	-12	-64	-50	-48	-68	-33	-99	-33	-152	16	-73
Repayment of Debt	-1,864	-944	-957	-871	-1,112	-824	-867	-599	-1,495	-1,414	-1,554
Repurchase of Common Equity	-10	0.00	-	-28	-43	-10	-35	-	-40	-75	-14
Payment of Dividends	-8.30	-8.40	-10	-10	-9.90	-9.70	-9.50	-11	-11	-11	-10
Issuance of Debt	1,871	939	946	862	1,097	811	813	577	1,401	1,515	1,505
Effect of Exchange Rate Changes	-0.20	-	-	0.60	-8.80	-2.70	16	-13	2.90	0.50	1.80

This table presents World Kinect's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	4,525	5,413	5,588	5,677	5,992	4,500	5,942	8,165	7,375	6,732	5,864
Total Current Assets	3,246	3,837	3,940	3,975	4,170	2,639	4,020	5,238	4,504	3,959	3,501
Cash & Equivalents	583	699	372	212	186	659	652	298	304	383	194
Accounts Receivable	1,800	2,344	2,706	2,740	2,892	1,238	2,355	3,294	2,736	2,433	2,209
Inventories, net	359	458	505	523	593	344	478	780	665	514	454
Prepaid Expenses	58	47	64	66	81	51	59	84	78	71	87
Other Current Assets	428	290	293	435	418	347	475	782	722	559	558
Plant, Property, & Equipment, net	226	311	330	350	0.00	0.00	0.00	0.00	515	513	348
Total Noncurrent Assets	1,054	1,265	1,318	1,352	1,822	1,861	1,923	2,927	2,356	2,259	2,015
Goodwill	676	836	846	853	844	859	862	1,233	1,238	1,182	738
Intangible Assets	-	-	-	-	-	-	189	336	300	261	312
Other Noncurrent Operating Assets	341	429	472	499	979	1,002	872	1,357	819	816	966
Total Liabilities & Shareholders' Equity	4,525	5,413	5,588	5,677	5,992	4,500	5,942	8,165	7,375	6,732	5,864
Total Liabilities	2,619	3,473	3,850	3,845	4,099	2,587	4,026	6,174	5,426	4,776	4,556
Total Current Liabilities	1,754	2,183	2,719	2,936	3,162	1,684	3,097	4,609	4,050	3,438	3,310
Short-Term Debt	26	15	26	41	54	23	31	16	79	84	12
Accounts Payable	1,350	1,770	2,240	2,400	2,603	1,215	2,400	3,530	3,098	2,727	2,587
Accrued Expenses	255	306	345	377	379	240	293	738	745	536	659
Other Current Liabilities	-	-	-	-	-	51	168	325	128	92	53
Total Noncurrent Liabilities	865	1,290	1,131	909	936	903	929	1,565	1,376	1,338	1,246
Long-Term Debt	747	1,171	885	660	575	502	478	830	809	797	685
Other Noncurrent Operating Liabilities	-	35	44	55	151	186	237	735	567	541	560
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,906	1,940	1,738	1,832	1,894	1,913	1,917	1,991	1,950	1,956	1,308
Total Preferred & Common Equity	1,896	1,925	1,722	1,815	1,890	1,909	1,913	1,985	1,943	1,949	1,299
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,896	1,925	1,722	1,816	1,890	1,909	1,913	1,985	1,943	1,949	1,299
Common Stock	436	401	356	341	275	205	169	183	110	31	0.50
Retained Earnings	1,569	1,679	1,493	1,606	1,761	1,837	1,881	1,963	1,982	2,009	1,316
Accumulated Other Comprehensive Income / (Loss)	-110	-155	-127	-132	-146	-133	-137	-161	-149	-91	-17
Noncontrolling Interest	10	15	16	16	3.50	3.60	4.10	5.90	6.70	7.20	8.80

This table presents World Kinect's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	7,486	6,962	7,483	7,174	7,189	6,985	6,589	6,054	6,060	6,803	6,599
Total Current Assets	4,614	4,045	4,591	4,393	4,396	4,171	3,830	3,571	3,638	4,391	4,216
Cash & Equivalents	217	294	336	321	525	374	456	403	474	151	135
Accounts Receivable	2,997	2,473	2,882	2,679	2,592	2,476	2,246	2,143	2,079	2,843	2,942
Inventories, net	619	553	654	655	647	620	504	475	501	739	579
Prepaid Expenses	81	85	93	74	83	90	71	76	80	101	76
Other Current Assets	700	641	627	664	549	611	553	474	504	557	483
Plant, Property, & Equipment, net	497	0.00	0.00	496	495	506	480	451	448	347	349
Total Noncurrent Assets	2,375	2,917	2,892	2,286	2,298	2,308	2,279	2,032	1,975	2,065	2,034
Goodwill	1,234	1,237	1,232	1,175	1,175	1,182	1,186	826	826	740	740
Intangible Assets	327	318	309	284	276	266	249	248	239	305	297
Other Noncurrent Operating Assets	814	1,362	1,351	826	848	860	844	958	910	1,020	997
Total Liabilities & Shareholders' Equity	7,486	6,962	7,483	7,174	7,189	6,985	6,589	6,054	6,060	6,803	6,599
Total Liabilities	5,472	4,997	5,508	5,216	5,152	4,934	4,661	4,449	4,434	5,591	5,332
Total Current Liabilities	4,154	3,572	4,114	3,862	3,819	3,583	3,342	3,149	3,153	4,201	3,985
Short-Term Debt	-	62	63	81	81	85	87	43	29	9.10	8.70
Accounts Payable	3,213	2,709	3,293	2,966	2,976	2,751	2,530	2,536	2,523	3,413	3,252
Accrued Expenses	669	590	608	681	660	657	617	496	540	703	660
Other Current Liabilities	253	212	151	135	101	90	109	74	62	75	64
Total Noncurrent Liabilities	1,318	1,425	1,394	1,354	1,333	1,350	1,319	1,300	1,281	1,390	1,347
Long-Term Debt	708	816	812	803	798	798	792	775	767	790	737
Other Noncurrent Operating Liabilities	610	608	582	551	535	552	526	525	514	601	610
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,014	1,965	1,975	1,959	2,037	2,051	1,928	1,605	1,627	1,212	1,267
Total Preferred & Common Equity	2,008	1,959	1,968	1,952	2,032	2,044	1,921	1,599	1,618	1,204	1,258
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,008	1,959	1,968	1,952	2,032	2,044	1,921	1,599	1,618	1,204	1,258
Common Stock	189	108	114	115	88	65	24	0.60	5.80	0.50	0.50
Retained Earnings	1,977	1,998	2,025	1,999	2,097	2,121	1,979	1,616	1,631	1,263	1,290
Accumulated Other Comprehensive Income / (Loss)	-157	-147	-170	-162	-152	-141	-81	-18	-19	-60	-33
Noncontrolling Interest	5.70	6.20	6.70	6.50	5.10	6.60	7.00	6.20	8.60	8.10	9.50

This table displays calculated financial ratios and metrics derived from World Kinect's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-29.98%	-11.08%	24.73%	0.00%	0.00%	-44.71%	53.93%	88.41%	-19.19%	-11.62%	-12.45%
EBITDA Growth	-14.69%	-20.76%	-71.09%	310.48%	21.88%	-23.75%	-26.86%	100.72%	-17.77%	1.74%	-277.84%
EBIT Growth	-20.74%	-34.71%	-114.84%	976.30%	28.34%	-31.82%	-38.13%	155.44%	-23.97%	1.70%	-423.22%
NOPAT Growth	-13.60%	-12.68%	-81.00%	-50.77%	26.24%	-59.13%	13.20%	106.24%	-26.95%	-6.07%	-363.99%
Net Income Growth	-22.89%	-25.87%	-234.73%	175.75%	40.39%	-39.48%	-32.30%	56.20%	-53.67%	26.44%	-1,000.88%
EPS Growth	-21.59%	-26.72%	-238.12%	175.60%	42.33%	-36.43%	-32.16%	56.90%	-52.75%	31.40%	-1,072.57%
Operating Cash Flow Growth	217.15%	-88.67%	-363.51%	-36.60%	225.37%	164.03%	-71.33%	-20.03%	95.88%	-4.20%	12.70%
Free Cash Flow Firm Growth	319.46%	-152.93%	188.30%	-73.79%	56.16%	206.06%	-82.91%	-590.96%	130.01%	39.83%	7.66%
Invested Capital Growth	-8.92%	18.34%	-6.26%	1.97%	0.69%	-23.88%	-0.31%	43.12%	-0.18%	-3.14%	-26.17%
Revenue Q/Q Growth	-9.13%	4.08%	3.31%	0.00%	0.00%	-18.61%	20.08%	7.14%	-3.78%	-5.05%	-1.94%
EBITDA Q/Q Growth	-8.44%	-18.72%	-68.43%	209.05%	4.95%	-19.97%	15.13%	54.75%	-13.91%	28.26%	-59.53%
EBIT Q/Q Growth	-11.82%	-28.65%	-117.94%	3,388.68%	6.56%	-26.42%	28.99%	90.82%	-19.57%	46.34%	-44.21%
NOPAT Q/Q Growth	-6.06%	-14.07%	-20.61%	112.83%	9.38%	-33.61%	19.74%	20.45%	-29.90%	1.18%	-118.03%
Net Income Q/Q Growth	-13.01%	-25.03%	-767.84%	236.36%	17.52%	-35.57%	34.91%	4.89%	-50.96%	-49.40%	-41.11%
EPS Q/Q Growth	-12.10%	-25.21%	-814.29%	236.96%	17.98%	-34.73%	33.33%	5.81%	-51.14%	-50.22%	-43.29%
Operating Cash Flow Q/Q Growth	32.71%	-85.20%	62.96%	29.40%	-24.29%	9.70%	-48.57%	-22.71%	54.15%	80.36%	-22.72%
Free Cash Flow Firm Q/Q Growth	41.80%	-397.67%	171.28%	110.88%	-19.11%	9.57%	-65.19%	0.86%	87.64%	124.20%	-42.70%
Invested Capital Q/Q Growth	-3.13%	8.21%	-10.45%	-2.54%	0.40%	-5.06%	7.98%	6.88%	0.75%	-4.16%	-7.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	1.63%	1.80%	1.50%	0.00%	3.02%	2.38%	2.52%	1.84%	2.22%	2.43%	2.57%
EBITDA Margin	0.93%	0.83%	0.19%	0.00%	0.88%	1.22%	0.58%	0.62%	0.63%	0.72%	-1.46%
Operating Margin	0.81%	0.70%	0.14%	0.00%	0.81%	0.68%	0.46%	0.46%	0.42%	0.50%	-1.53%
EBIT Margin	0.72%	0.53%	-0.06%	0.00%	0.64%	0.79%	0.32%	0.43%	0.41%	0.47%	-1.73%
Profit (Net Income) Margin	0.56%	0.47%	-0.51%	0.00%	0.49%	0.54%	0.24%	0.20%	0.11%	0.16%	-1.66%
Tax Burden Percent	78.32%	88.95%	807.11%	69.77%	76.32%	67.78%	74.20%	79.88%	80.51%	71.10%	82.70%
Interest Burden Percent	99.95%	99.93%	100.00%	100.00%	100.00%	99.94%	99.90%	56.75%	34.31%	48.31%	115.76%
Effective Tax Rate	21.68%	11.05%	0.00%	30.23%	23.68%	32.22%	25.80%	20.12%	19.49%	28.90%	0.00%
Return on Invested Capital (ROIC)	8.94%	7.50%	1.36%	0.00%	9.82%	4.54%	5.96%	10.12%	6.29%	6.00%	-18.53%
ROIC Less NNEP Spread (ROIC-NNEP)	0.72%	-5.64%	-38.07%	0.00%	-0.40%	14.99%	28.73%	-40.56%	-12.40%	-9.13%	-61.75%
Return on Net Nonoperating Assets (RNNOA)	0.10%	-0.93%	-10.62%	0.00%	-0.10%	1.22%	-2.08%	-4.19%	-3.56%	-2.53%	-18.95%
Return on Equity (ROE)	9.04%	6.57%	-9.26%	7.23%	9.72%	5.76%	3.88%	5.93%	2.73%	3.48%	-37.48%
Cash Return on Invested Capital (CROIC)	18.28%	-9.29%	7.82%	5.93%	9.14%	31.65%	6.27%	-25.35%	6.47%	9.20%	11.58%
Operating Return on Assets (OROA)	4.63%	2.86%	-0.38%	0.00%	4.07%	3.08%	1.92%	3.63%	2.50%	2.80%	-10.15%
Return on Assets (ROA)	3.63%	2.54%	-3.10%	0.00%	3.10%	2.09%	1.42%	1.64%	0.69%	0.96%	-9.71%
Return on Common Equity (ROCE)	9.00%	6.53%	-9.18%	7.16%	9.67%	5.75%	3.87%	5.92%	2.72%	3.46%	-37.30%
Return on Equity Simple (ROE_SIMPLE)	8.99%	6.57%	-9.89%	7.11%	9.58%	5.74%	3.88%	5.84%	2.76%	3.48%	0.00%
Net Operating Profit after Tax (NOPAT)	192	168	32	181	229	93	106	218	159	150	-395
NOPAT Margin	0.63%	0.62%	0.09%	0.00%	0.62%	0.46%	0.34%	0.37%	0.33%	0.36%	-1.07%
Net Nonoperating Expense Percent (NNEP)	8.22%	13.14%	39.43%	10.16%	10.22%	-10.45%	-22.77%	50.68%	18.69%	15.13%	43.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	7.69%	5.62%	5.28%	-19.72%
Cost of Revenue to Revenue	98.37%	98.20%	98.50%	0.00%	96.98%	97.62%	97.48%	98.16%	97.78%	97.57%	97.43%
SG&A Expenses to Revenue	0.82%	1.10%	0.91%	0.00%	0.88%	1.53%	0.79%	0.52%	0.65%	0.70%	0.77%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	0.82%	1.10%	1.36%	0.00%	2.21%	1.70%	2.06%	1.38%	1.80%	1.93%	4.10%
Earnings before Interest and Taxes (EBIT)	218	142	-21	185	237	162	100	256	194	198	-639
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	283	225	65	266	325	248	181	364	299	304	-541
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.50	0.99	0.78	1.37	0.96	0.83	0.81	0.69	0.82	1.00
Price to Tangible Book Value (P/TBV)	1.98	2.65	1.95	1.47	2.48	1.75	1.83	3.87	3.30	3.16	5.21
Price to Revenue (P/Rev)	0.08	0.11	0.05	0.00	0.07	0.09	0.05	0.03	0.03	0.04	0.04
Price to Earnings (P/E)	13.83	22.78	0.00	0.00	14.53	16.79	21.42	14.12	25.28	23.70	0.00
Dividend Yield	0.70%	0.59%	0.95%	1.15%	0.91%	1.73%	1.92%	2.00%	2.52%	2.47%	4.01%
Earnings Yield	7.23%	4.39%	0.00%	0.00%	6.88%	5.96%	4.67%	7.08%	3.96%	4.22%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.27	1.39	0.99	0.83	1.30	0.96	0.81	0.85	0.76	0.86	1.00
Enterprise Value to Revenue (EV/Rev)	0.09	0.13	0.07	0.00	0.08	0.08	0.05	0.04	0.04	0.05	0.05
Enterprise Value to EBITDA (EV/EBITDA)	9.22	15.08	34.84	7.20	9.38	6.91	7.95	5.95	6.45	6.91	0.00
Enterprise Value to EBIT (EV/EBIT)	11.99	23.80	0.00	10.38	12.83	10.57	14.38	8.46	9.92	10.64	0.00
Enterprise Value to NOPAT (EV/NOPAT)	13.58	20.14	70.84	10.59	13.31	18.29	13.61	9.92	12.09	14.04	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	5.84	66.75	0.00	0.00	13.31	2.83	8.31	15.62	7.11	8.09	6.19
Enterprise Value to Free Cash Flow (EV/FCFF)	6.64	0.00	12.30	14.08	14.31	2.62	12.93	0.00	11.75	9.17	7.35
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	0.61	0.52	0.38	0.33	0.27	0.27	0.42	0.46	0.45	0.53
Long-Term Debt to Equity	0.39	0.60	0.51	0.36	0.30	0.26	0.25	0.42	0.42	0.41	0.52
Financial Leverage	0.14	0.16	0.28	0.29	0.25	0.08	-0.07	0.10	0.29	0.28	0.31
Leverage Ratio	2.49	2.58	2.99	3.16	3.13	2.76	2.73	3.61	3.94	3.61	3.86
Compound Leverage Factor	2.49	2.58	2.99	3.16	3.13	2.75	2.72	2.05	1.35	1.74	4.47
Debt to Total Capital	28.83%	37.94%	34.37%	27.68%	24.93%	21.53%	20.97%	29.82%	31.29%	31.05%	34.77%
Short-Term Debt to Total Capital	0.95%	0.49%	0.97%	1.62%	2.14%	0.94%	1.26%	0.56%	2.78%	2.96%	0.59%
Long-Term Debt to Total Capital	27.88%	37.45%	33.40%	26.06%	22.78%	20.59%	19.71%	29.26%	28.51%	28.09%	34.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.37%	0.48%	0.60%	0.64%	0.14%	0.15%	0.17%	0.21%	0.24%	0.25%	0.44%
Common Equity to Total Capital	70.79%	61.58%	65.02%	71.69%	74.94%	78.33%	78.85%	69.98%	68.47%	68.70%	64.79%
Debt to EBITDA	2.73	5.28	14.02	2.63	1.94	2.12	2.81	2.33	2.97	2.90	-1.29
Net Debt to EBITDA	0.67	2.17	8.29	1.84	1.36	-0.54	-0.79	1.51	1.95	1.64	-0.93
Long-Term Debt to EBITDA	2.64	5.22	13.63	2.48	1.77	2.03	2.64	2.28	2.71	2.62	-1.27
Debt to NOPAT	4.01	7.06	28.52	3.87	2.75	5.61	4.81	3.88	5.57	5.88	-1.76
Net Debt to NOPAT	0.99	2.90	16.85	2.70	1.94	-1.43	-1.36	2.51	3.66	3.33	-1.27
Long-Term Debt to NOPAT	3.88	6.97	27.71	3.64	2.51	5.37	4.52	3.80	5.08	5.32	-1.73
Altman Z-Score	8.31	6.38	6.92	0.94	7.27	5.90	6.19	7.92	7.15	7.07	6.46
Noncontrolling Interest Sharing Ratio	0.52%	0.65%	0.84%	0.90%	0.53%	0.19%	0.20%	0.26%	0.32%	0.35%	0.49%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.85	1.76	1.45	1.35	1.32	1.57	1.30	1.14	1.11	1.15	1.06
Quick Ratio	1.36	1.39	1.13	1.01	0.97	1.13	0.97	0.78	0.75	0.82	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	393	-208	184	136	213	651	111	-546	164	229	247
Operating Cash Flow to CapEx	877.45%	140.44%	-247.41%	-252.42%	282.82%	1,177.58%	441.84%	176.21%	309.70%	381.09%	446.49%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	6.46	5.44	6.13	0.00	6.31	3.88	6.00	8.37	6.14	5.98	5.86
Accounts Receivable Turnover	14.80	13.04	13.35	0.00	13.08	9.86	17.44	20.90	15.83	16.32	15.91
Inventory Turnover	75.03	64.94	68.93	0.00	63.97	42.39	74.31	92.15	64.59	69.84	74.34
Fixed Asset Turnover	141.64	100.66	105.13	0.00	0.00	0.00	0.00	0.00	0.00	81.99	85.68
Accounts Payable Turnover	18.68	17.01	16.55	0.00	14.28	10.41	16.90	19.55	14.08	14.13	13.54
Days Sales Outstanding (DSO)	24.67	27.99	27.35	0.00	27.91	37.03	20.93	17.46	23.06	22.37	22.94
Days Inventory Outstanding (DIO)	4.87	5.62	5.30	0.00	5.71	8.61	4.91	3.96	5.65	5.23	4.91
Days Payable Outstanding (DPO)	19.54	21.46	22.05	0.00	25.57	35.06	21.59	18.67	25.92	25.84	26.96
Cash Conversion Cycle (CCC)	9.99	12.15	10.60	0.00	8.05	10.58	4.25	2.75	2.79	1.76	0.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,052	2,428	2,276	2,321	2,337	1,779	1,773	2,538	2,533	2,454	1,812
Invested Capital Turnover	14.12	12.06	14.33	0.00	15.81	9.89	17.64	27.39	18.82	16.91	17.31
Increase / (Decrease) in Invested Capital	-201	376	-152	45	16	-558	-5.50	765	-4.60	-80	-642
Enterprise Value (EV)	2,612	3,384	2,261	1,919	3,045	1,710	1,440	2,164	1,928	2,103	1,814
Market Capitalization	2,413	2,882	1,707	1,413	2,599	1,840	1,579	1,611	1,337	1,598	1,302
Book Value per Share	$26.79	$27.32	$25.46	$26.82	$28.91	$30.07	$30.28	$32.06	$32.27	$33.56	$23.38
Tangible Book Value per Share	$17.24	$15.46	$12.96	$14.22	$16.01	$16.55	$13.64	$6.71	$6.73	$8.71	$4.50
Total Capital	2,678	3,126	2,648	2,533	2,523	2,438	2,426	2,836	2,838	2,837	2,005
Total Debt	772	1,186	910	701	629	525	509	846	888	881	697
Total Long-Term Debt	747	1,171	885	660	575	502	478	830	809	797	685
Net Debt	190	488	538	489	443	-134	-144	547	584	498	504
Capital Expenditures (CapEx)	51	36	54	72	81	51	39	79	88	68	66
Debt-free, Cash-free Net Working Capital (DFCFNWC)	935	971	875	868	876	319	301	347	229	223	8.50
Debt-free Net Working Capital (DFNWC)	1,517	1,669	1,247	1,080	1,062	978	954	645	533	605	202
Net Working Capital (NWC)	1,492	1,654	1,222	1,039	1,008	955	923	630	454	521	190
Net Nonoperating Expense (NNE)	22	42	202	52	48	-16	32	102	106	82	216
Net Nonoperating Obligations (NNO)	146	488	538	489	443	-134	-144	547	584	498	504
Total Depreciation and Amortization (D&A)	66	82	86	82	87	86	81	108	105	106	98
Debt-free, Cash-free Net Working Capital to Revenue	3.08%	3.59%	2.60%	0.00%	2.38%	1.57%	0.96%	0.59%	0.48%	0.53%	0.02%
Debt-free Net Working Capital to Revenue	4.99%	6.18%	3.70%	0.00%	2.88%	4.80%	3.04%	1.09%	1.12%	1.44%	0.55%
Net Working Capital to Revenue	4.91%	6.12%	3.63%	0.00%	2.74%	4.69%	2.95%	1.07%	0.95%	1.24%	0.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.66	$1.82	($2.50)	$1.89	$2.71	$1.72	$1.17	$1.83	$0.86	$1.14	($10.99)
Adjusted Weighted Average Basic Shares Outstanding	70.20M	69.30M	68.10M	67.40M	66.10M	63.70M	62.90M	62.30M	61.40M	59M	55.90M
Adjusted Diluted Earnings per Share	$2.64	$1.81	($2.50)	$1.89	$2.69	$1.71	$1.16	$1.82	$0.86	$1.13	($10.99)
Adjusted Weighted Average Diluted Shares Outstanding	70.70M	69.80M	68.10M	67.70M	66.50M	64M	63.30M	62.70M	61.70M	59.50M	55.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	70.80M	69.93M	67.64M	0.00	65.41M	63.12M	63.44M	62.04M	59.85M	56.75M	51.28M
Normalized Net Operating Profit after Tax (NOPAT)	192	168	138	181	244	118	114	218	192	175	160
Normalized NOPAT Margin	0.63%	0.62%	0.41%	0.00%	0.66%	0.58%	0.36%	0.37%	0.40%	0.42%	0.43%
Pre Tax Income Margin	0.72%	0.53%	-0.06%	0.00%	0.64%	0.79%	0.32%	0.25%	0.14%	0.23%	-2.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	8.97%	13.13%	-9.57%	12.56%	11.65%	23.36%	38.68%	26.75%	63.31%	56.70%	-6.75%
Augmented Payout Ratio	50.32%	45.73%	-45.92%	28.06%	47.76%	85.68%	106.74%	68.77%	175.23%	203.98%	-20.65%

This table displays calculated financial ratios and metrics derived from World Kinect's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	51,278,990.00	51,355,451.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	51,278,990.00	51,355,451.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.51	0.94
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-13.51%	-12.26%	-0.14%	-14.33%	-18.68%	-13.69%	-17.53%	-10.48%	-7.49%	2.46%	50.29%
EBITDA Growth	-92.76%	-2.53%	70.99%	-1.88%	-489.52%	-76.03%	-336.77%	-11.00%	-417.81%	286.70%	129.33%
EBIT Growth	-109.96%	-2.78%	98.21%	-1.74%	-455.24%	-108.92%	-393.62%	-12.09%	-246.73%	1,203.77%	122.90%
NOPAT Growth	-117.85%	3.70%	-27.48%	-9.22%	293.51%	-108.18%	-682.94%	-10.71%	-1,025.84%	1,068.84%	129.82%
Net Income Growth	-266.99%	20.35%	250.49%	-1.41%	-189.97%	-178.31%	-417.21%	-19.71%	-176.09%	220.19%	114.69%
EPS Growth	-264.71%	25.00%	277.08%	-1.72%	-203.57%	-182.22%	-434.81%	-19.30%	-195.29%	235.14%	115.51%
Operating Cash Flow Growth	104.96%	-22.94%	56.09%	-147.95%	2,573.33%	3.81%	-58.47%	401.56%	-71.57%	-140.56%	-175.53%
Free Cash Flow Firm Growth	99.12%	-36.50%	139.67%	106.35%	1,725.57%	176.91%	-34.31%	12,268.11%	347.01%	224.59%	64.64%
Invested Capital Growth	-0.18%	-0.13%	-6.16%	1.82%	-3.14%	-6.74%	-15.55%	-23.91%	-26.17%	-20.90%	-7.06%
Revenue Q/Q Growth	-1.98%	-8.76%	0.13%	-4.33%	-6.96%	-3.16%	-4.33%	3.85%	-3.86%	7.27%	40.33%
EBITDA Q/Q Growth	-87.72%	197.69%	99.06%	-41.22%	-148.74%	142.03%	-2,066.50%	122.09%	-383.56%	131.39%	49.17%
EBIT Q/Q Growth	-119.09%	152.38%	142.59%	-48.92%	-207.88%	93.32%	-7,883.02%	115.29%	-525.50%	121.25%	65.64%
NOPAT Q/Q Growth	-119.18%	623.67%	-26.59%	23.11%	-59.11%	-122.15%	-5,128.79%	118.86%	-523.96%	123.18%	60.94%
Net Income Q/Q Growth	-198.31%	177.94%	293.01%	-67.26%	-389.14%	78.95%	-1,492.02%	108.29%	-1,094.31%	109.16%	94.53%
EPS Q/Q Growth	-196.55%	180.36%	302.22%	-68.51%	-398.25%	78.24%	-1,537.84%	107.59%	-1,191.30%	109.96%	88.00%
Operating Cash Flow Q/Q Growth	-94.40%	2,348.89%	-38.38%	-156.70%	412.47%	-4.90%	-75.35%	311.70%	-70.54%	-235.67%	54.09%
Free Cash Flow Firm Q/Q Growth	92.63%	1,065.23%	232.83%	-97.32%	1,789.00%	64.42%	-21.04%	404.30%	-31.73%	19.39%	-59.95%
Invested Capital Q/Q Growth	0.75%	-0.50%	-5.11%	7.04%	-4.16%	-4.19%	-14.08%	-3.56%	-7.01%	2.64%	0.96%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	1.94%	2.32%	2.24%	2.56%	2.65%	2.44%	2.57%	2.66%	2.61%	2.80%	2.69%
EBITDA Margin	0.10%	0.77%	1.54%	0.94%	-0.49%	0.21%	-4.41%	0.94%	-2.77%	0.81%	0.86%
Operating Margin	-0.13%	0.58%	0.41%	0.69%	0.31%	-0.07%	-3.82%	0.67%	-3.06%	0.58%	0.71%
EBIT Margin	-0.12%	0.54%	1.31%	0.70%	-0.81%	-0.06%	-4.68%	0.69%	-3.05%	0.60%	0.71%
Profit (Net Income) Margin	-0.29%	0.25%	0.97%	0.33%	-1.04%	-0.23%	-3.75%	0.30%	-3.09%	0.26%	0.37%
Tax Burden Percent	74.89%	89.18%	91.68%	70.56%	100.00%	75.80%	75.57%	72.42%	92.61%	79.50%	75.11%
Interest Burden Percent	325.87%	51.35%	80.92%	67.39%	127.46%	530.19%	106.05%	59.97%	109.59%	55.04%	68.42%
Effective Tax Rate	0.00%	10.82%	8.32%	29.44%	0.00%	0.00%	0.00%	27.58%	0.00%	20.50%	25.04%
Return on Invested Capital (ROIC)	-1.69%	9.44%	7.06%	8.51%	3.61%	-0.82%	-46.92%	8.10%	-37.03%	8.16%	11.34%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.95%	3.98%	21.01%	5.46%	-18.95%	-4.20%	-72.26%	3.90%	-54.25%	4.58%	7.00%
Return on Net Nonoperating Assets (RNNOA)	-1.71%	1.07%	4.93%	1.42%	-5.25%	-1.07%	-15.27%	0.88%	-16.65%	1.56%	2.50%
Return on Equity (ROE)	-3.40%	10.51%	11.99%	9.93%	-1.64%	-1.88%	-62.19%	8.98%	-53.67%	9.71%	13.84%
Cash Return on Invested Capital (CROIC)	6.47%	6.59%	12.54%	4.03%	9.20%	10.01%	8.94%	19.12%	11.58%	6.66%	5.15%
Operating Return on Assets (OROA)	-0.73%	3.42%	8.57%	4.31%	-4.86%	-0.33%	-27.38%	3.98%	-17.87%	3.35%	4.70%
Return on Assets (ROA)	-1.79%	1.56%	6.36%	2.05%	-6.20%	-1.33%	-21.94%	1.73%	-18.14%	1.47%	2.42%
Return on Common Equity (ROCE)	-3.39%	10.48%	11.96%	9.90%	-1.63%	-1.87%	-62.00%	8.94%	-53.41%	9.67%	13.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	2.99%	6.63%	6.56%	0.00%	1.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-11	56	41	51	21	-4.62	-242	46	-193	45	72
NOPAT Margin	-0.09%	0.52%	0.38%	0.49%	0.21%	-0.05%	-2.67%	0.49%	-2.14%	0.46%	0.53%
Net Nonoperating Expense Percent (NNEP)	4.26%	5.46%	-13.95%	3.05%	22.57%	3.39%	25.34%	4.20%	17.23%	3.58%	4.34%
Return On Investment Capital (ROIC_SIMPLE)	-0.38%	-	-	-	0.74%	-0.16%	-9.97%	1.88%	-9.63%	2.23%	3.58%
Cost of Revenue to Revenue	98.06%	97.68%	97.76%	97.44%	97.35%	97.56%	97.43%	97.34%	97.39%	97.20%	97.31%
SG&A Expenses to Revenue	0.60%	0.69%	0.66%	0.68%	0.79%	0.77%	0.74%	0.74%	0.81%	0.80%	0.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	2.06%	1.74%	1.82%	1.87%	2.35%	2.51%	6.38%	1.99%	5.66%	2.22%	1.98%
Earnings before Interest and Taxes (EBIT)	-14	59	144	74	-79	-5.30	-423	65	-275	59	97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	85	169	99	-48	20	-399	88	-250	79	117
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.69	0.81	0.76	0.89	0.82	0.84	1.00	0.89	1.00	0.98	1.35
Price to Tangible Book Value (P/TBV)	3.30	3.21	2.66	3.06	3.16	3.31	3.06	2.60	5.21	7.44	7.65
Price to Revenue (P/Rev)	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.04
Price to Earnings (P/E)	25.28	27.51	11.38	13.58	23.70	85.15	0.00	0.00	0.00	0.00	0.00
Dividend Yield	2.52%	2.78%	2.40%	2.10%	2.47%	2.40%	2.50%	2.85%	4.01%	3.47%	2.52%
Earnings Yield	3.96%	3.64%	8.79%	7.36%	4.22%	1.17%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.76	0.85	0.80	0.91	0.86	0.87	1.00	0.91	1.00	0.99	1.23
Enterprise Value to Revenue (EV/Rev)	0.04	0.05	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.06
Enterprise Value to EBITDA (EV/EBITDA)	6.45	12.73	7.98	9.88	6.91	8.51	0.00	0.00	0.00	0.00	68.58
Enterprise Value to EBIT (EV/EBIT)	9.92	33.09	13.97	17.34	10.64	15.33	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	12.09	13.20	12.47	15.83	14.04	27.57	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	7.11	9.02	7.25	16.26	8.09	7.72	9.03	4.67	6.19	13.92	27.98
Enterprise Value to Free Cash Flow (EV/FCFF)	11.75	12.94	6.15	22.90	9.17	8.36	10.27	4.11	7.35	13.12	23.05
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.45	0.43	0.43	0.45	0.46	0.51	0.49	0.53	0.66	0.59
Long-Term Debt to Equity	0.42	0.41	0.39	0.39	0.41	0.41	0.48	0.47	0.52	0.65	0.58
Financial Leverage	0.29	0.27	0.23	0.26	0.28	0.25	0.21	0.23	0.31	0.34	0.36
Leverage Ratio	3.94	3.69	3.54	3.59	3.61	3.54	3.64	3.55	3.86	4.26	4.41
Compound Leverage Factor	12.85	1.89	2.86	2.42	4.60	18.77	3.86	2.13	4.23	2.35	3.01
Debt to Total Capital	31.29%	31.09%	30.14%	30.10%	31.05%	31.31%	33.77%	32.84%	34.77%	39.73%	37.04%
Short-Term Debt to Total Capital	2.78%	2.85%	2.79%	2.90%	2.96%	3.09%	1.78%	1.19%	0.59%	0.45%	0.43%
Long-Term Debt to Total Capital	28.51%	28.24%	27.35%	27.20%	28.09%	28.22%	31.99%	31.65%	34.17%	39.27%	36.60%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.24%	0.23%	0.17%	0.22%	0.25%	0.25%	0.26%	0.36%	0.44%	0.40%	0.47%
Common Equity to Total Capital	68.47%	68.68%	69.68%	69.68%	68.70%	68.43%	65.97%	66.80%	64.79%	59.87%	62.49%
Debt to EBITDA	2.97	5.23	3.68	3.72	2.90	3.67	-2.49	-2.35	-1.29	-1.66	22.12
Net Debt to EBITDA	1.95	3.33	1.48	2.15	1.64	1.76	-1.27	-0.95	-0.93	-1.34	18.10
Long-Term Debt to EBITDA	2.71	4.75	3.34	3.37	2.62	3.31	-2.36	-2.26	-1.27	-1.64	21.86
Debt to NOPAT	5.57	5.42	5.75	5.97	5.88	11.88	-4.68	-4.39	-1.76	-2.27	-17.57
Net Debt to NOPAT	3.66	3.45	2.32	3.44	3.33	5.71	-2.38	-1.78	-1.27	-1.84	-14.38
Long-Term Debt to NOPAT	5.08	4.93	5.22	5.39	5.32	10.71	-4.44	-4.23	-1.73	-2.25	-17.36
Altman Z-Score	7.06	7.12	7.17	7.14	6.94	6.89	6.84	6.92	6.67	5.91	6.87
Noncontrolling Interest Sharing Ratio	0.32%	0.30%	0.28%	0.33%	0.35%	0.35%	0.31%	0.41%	0.49%	0.48%	0.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.11	1.14	1.15	1.16	1.15	1.15	1.13	1.15	1.06	1.05	1.06
Quick Ratio	0.75	0.78	0.82	0.80	0.82	0.81	0.81	0.81	0.73	0.71	0.77
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6.18	60	199	5.32	100	165	130	658	449	536	215
Operating Cash Flow to CapEx	22.84%	629.71%	465.07%	-211.54%	672.07%	752.63%	189.26%	823.40%	159.81%	-336.23%	-154.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	6.14	6.30	6.52	6.14	5.98	5.91	5.85	5.77	5.86	5.55	6.59
Accounts Receivable Turnover	15.83	16.27	18.23	16.58	16.32	16.52	16.37	16.53	15.91	14.60	16.40
Inventory Turnover	64.59	70.89	75.30	68.14	69.84	68.49	67.33	65.42	74.34	58.19	76.98
Fixed Asset Turnover	0.00	93.00	0.00	0.00	81.99	83.32	81.87	78.96	85.68	89.79	104.15
Accounts Payable Turnover	14.08	14.61	15.89	14.36	14.13	14.44	13.70	13.91	13.54	12.17	14.02
Days Sales Outstanding (DSO)	23.06	22.43	20.02	22.02	22.37	22.10	22.30	22.08	22.94	25.00	22.26
Days Inventory Outstanding (DIO)	5.65	5.15	4.85	5.36	5.23	5.33	5.42	5.58	4.91	6.27	4.74
Days Payable Outstanding (DPO)	25.92	24.99	22.98	25.41	25.84	25.28	26.64	26.24	26.96	29.99	26.04
Cash Conversion Cycle (CCC)	2.79	2.59	1.90	1.97	1.76	2.15	1.08	1.41	0.89	1.28	0.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,533	2,521	2,392	2,560	2,454	2,351	2,020	1,948	1,812	1,860	1,877
Invested Capital Turnover	18.82	18.31	18.69	17.50	16.91	16.70	17.56	16.70	17.31	17.65	21.40
Increase / (Decrease) in Invested Capital	-4.60	-3.20	-157	46	-80	-170	-372	-612	-642	-491	-143
Enterprise Value (EV)	1,928	2,151	1,906	2,342	2,103	2,039	2,027	1,772	1,814	1,839	2,311
Market Capitalization	1,337	1,582	1,546	1,827	1,598	1,609	1,605	1,441	1,302	1,183	1,692
Book Value per Share	$32.27	$32.59	$33.91	$34.60	$33.56	$33.85	$28.23	$29.13	$23.38	$23.47	$24.49
Tangible Book Value per Share	$6.73	$8.23	$9.70	$10.09	$8.71	$8.57	$9.27	$9.97	$4.50	$3.10	$4.31
Total Capital	2,838	2,842	2,917	2,934	2,837	2,807	2,423	2,422	2,005	2,011	2,012
Total Debt	888	884	879	883	881	879	818	795	697	799	745
Total Long-Term Debt	809	803	798	798	797	792	775	767	685	790	737
Net Debt	584	562	355	509	498	423	415	322	504	648	610
Capital Expenditures (CapEx)	20	18	15	18	18	15	15	14	21	14	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	229	290	134	299	223	118	62	39	8.50	48	104
Debt-free Net Working Capital (DFNWC)	533	611	658	673	605	574	465	513	202	199	240
Net Working Capital (NWC)	454	530	577	588	521	488	422	484	190	190	231
Net Nonoperating Expense (NNE)	24	29	-65	16	122	17	98	17	86	19	22
Net Nonoperating Obligations (NNO)	584	562	355	509	498	423	415	322	504	648	610
Total Depreciation and Amortization (D&A)	27	25	25	26	31	26	24	24	25	20	20
Debt-free, Cash-free Net Working Capital to Revenue	0.48%	0.63%	0.29%	0.67%	0.53%	0.29%	0.16%	0.10%	0.02%	0.13%	0.25%
Debt-free Net Working Capital to Revenue	1.12%	1.32%	1.43%	1.51%	1.44%	1.41%	1.20%	1.36%	0.55%	0.54%	0.57%
Net Working Capital to Revenue	0.95%	1.15%	1.25%	1.32%	1.24%	1.20%	1.09%	1.29%	0.51%	0.51%	0.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.57)	$0.46	$1.81	$0.57	($1.70)	($0.37)	($6.06)	$0.46	($5.02)	$0.51	$0.94
Adjusted Weighted Average Basic Shares Outstanding	61.40M	59.90M	59.80M	58.80M	59M	56.80M	56M	55.60M	55.90M	51.70M	51.30M
Adjusted Diluted Earnings per Share	($0.56)	$0.45	$1.81	$0.57	($1.70)	($0.37)	($6.06)	$0.46	($5.02)	$0.50	$0.94
Adjusted Weighted Average Diluted Shares Outstanding	61.70M	60.30M	60M	59.20M	59.50M	56.80M	56M	55.90M	55.90M	52M	51.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.85M	59.94M	59.09M	58.08M	56.75M	56.63M	55.54M	55.56M	51.28M	51.36M	51.15M
Normalized Net Operating Profit after Tax (NOPAT)	17	57	49	52	40	37	42	49	33	50	77
Normalized NOPAT Margin	0.14%	0.52%	0.44%	0.49%	0.41%	0.39%	0.46%	0.52%	0.37%	0.52%	0.56%
Pre Tax Income Margin	-0.39%	0.28%	1.06%	0.47%	-1.04%	-0.30%	-4.96%	0.41%	-3.34%	0.33%	0.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	63.31%	57.98%	26.13%	27.50%	56.70%	205.15%	-9.19%	-9.27%	-6.75%	-7.49%	-24.45%
Augmented Payout Ratio	175.23%	57.98%	55.23%	77.79%	203.98%	772.16%	-36.36%	-29.48%	-20.65%	-34.05%	-97.95%

Financials Breakdown Chart

Key Financial Trends

World Kinect’s latest quarter shows a mixed picture: revenue was essentially flat to slightly higher year over year, but profitability and cash generation weakened sharply. The company also leaned on debt issuance to offset a very large debt repayment, and working capital absorbed a meaningful amount of cash. On the balance sheet, liabilities remain high relative to equity, which keeps leverage and liquidity in focus for investors.

Revenue was stable year over year in Q1 2026, rising to $9.69 billion from $9.03 billion in Q4 2025 and staying above the prior-year quarter’s range, suggesting demand remains intact.
Gross profit improved modestly, with Q1 2026 gross profit of $271.2 million versus $235.4 million in Q4 2025.
Operating income rebounded sharply from the prior quarter, improving to $56.3 million in Q1 2026 from a loss of $275.9 million in Q4 2025, helped by lower impairment and restructuring costs.
Net income turned positive again, reaching $25.6 million in Q1 2026 after a large Q4 2025 loss of $279.5 million.
Cash and equivalents increased from the prior quarter, rising to $151.1 million from $473.6 million in Q3 2025? actually Q1 2026 ended below earlier 2025 levels, but still provided some liquidity alongside the company’s broader working-capital base.
EPS improved materially versus Q4 2025, with basic EPS of $0.51 in Q1 2026 compared with a loss of $5.02 in the prior quarter.
Depreciation and non-cash adjustments continue to be a meaningful part of cash flow, which is common for an asset-heavy fuel and logistics business.
Dividend payments remain modest, at $0.20 per share in Q1 2026, suggesting the payout is being maintained but not aggressively increased.
Accounts receivable and inventories remain large, reflecting the scale of operations but also tying up working capital.
Operating cash flow was negative in Q1 2026, at $(46.4) million, compared with positive $34.2 million in Q4 2025 and $116.1 million in Q3 2025.
Working capital consumed cash, with changes in operating assets and liabilities reducing cash flow by $106.1 million in the quarter.
The company reported a very large debt repayment and refinancing activity, repaying $1.413 billion while issuing $1.515 billion in new debt, signaling ongoing balance-sheet management pressure.
Total liabilities remain elevated at $5.59 billion versus $1.21 billion in equity, leaving the balance sheet highly leveraged.
Interest expense appears to be a drag, with interest and investment income showing a negative $26.3 million in Q1 2026.
The company’s profitability remains volatile year to year, with Q4 2025 showing a steep loss and earlier periods also affected by impairment and restructuring charges.

Bottom line: World Kinect is showing some operational stabilization after a rough prior quarter, but investors should keep a close eye on cash flow, leverage, and working-capital volatility. The business can still generate profits in better quarters, yet the balance sheet and financing needs suggest the turnaround is not fully complete.

08/06/26 04:10 PM ETAI Generated. May Contain Errors.

World Kinect Financials - Frequently Asked Questions

According to the most recent income statement we have on file, World Kinect's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

World Kinect's net income appears to be on a downward trend, with a most recent value of -$611.70 million in 2025, falling from $221.10 million in 2014. The previous period was $67.90 million in 2024. See where experts think World Kinect is headed by visiting World Kinect's forecast page.

World Kinect's total operating income in 2025 was -$564.70 million, based on the following breakdown:

Total Gross Profit: $947.80 million
Total Operating Expenses: $1.51 billion

Over the last 10 years, World Kinect's total revenue changed from $43.39 billion in 2014 to $36.92 billion in 2025, a change of -14.9%.

World Kinect's total liabilities were at $4.56 billion at the end of 2025, a 4.6% decrease from 2024, and a 73.9% increase since 2015.

In the past 10 years, World Kinect's cash and equivalents has ranged from $186.10 million in 2019 to $698.60 million in 2016, and is currently $193.50 million as of their latest financial filing in 2025.

Over the last 10 years, World Kinect's book value per share changed from 26.79 in 2015 to 23.38 in 2025, a change of -12.7%.

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Financial statements for NYSE:WKC last updated on 7/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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World Kinect (WKC) Financials

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