World Kinect Corporation

WKC

Oil & Gas Refining & Marketing · Energy

Price

$36.50

-0.45 (-1.22%)

Market Cap

$1.87B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count falling — buybacks

−13.4% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 63.3M (2021) → 54.8M (2025)

World Kinect Corporation is a fuel logistics and energy management company. It buys and resells fuel — including aviation fuel, marine fuel, and land-based fuel — to airlines, shipping companies, trucking fleets, and militaries around the world. The company does not refine or produce fuel itself; instead, it acts as a middleman that connects fuel suppliers with large customers who need reliable delivery across many locations.

World Kinect earns money on the small margin between what it pays for fuel and what it charges customers, which explains its very thin gross margin of around 1.5%. The company operates globally, with a presence in over 200 countries and territories, giving it broad geographic reach that is difficult for smaller competitors to match. Its main competitive advantage is its logistics network and long-standing customer relationships, but because margins are so thin, any drop in fuel volumes or a rise in credit risk from customers can quickly pressure profits.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+237.8% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

3.7%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~8 months

$151M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

World Kinect Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

1.4%

Thin — 1.4% gross margin

Operating Margin

0.7%

Thin — 0.7% operating margin

ROCE

3.1%

Weak — 3.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-8.7%

Shrinking sales (-8.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

0.2%

Thin free cash flow (0.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.66

Moderate — manageable debt (0.66)

Interest Cover

2.48x

Tight — interest eats into profit (2.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

2.52%

Moderate income — 2.52% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+16.9%

Dividend growing fast (16.9% YoY)

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