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WKC

World Kinect Corporation

WKC

World Kinect Corporation • NYSE
$23.18 ▼ -2.15% (-0.51)
Market Cap $1.29 B
52w High $31.54
52w Low $22.71
Dividend Yield 0.74%
P/E -3.03
Volume 314.92K
Outstanding Shares 55.56M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.403B ▲ $69.5M ▲ $25.7M ▲ 0.273% ▲ $0.46 ▲ $90.7M ▲
Q2-2025 $9.059B ▼ $67.3M ▼ $-339.3M ▼ -3.746% ▼ $-6.01 ▼ $-396.5M ▼
Q1-2025 $9.438B ▼ $72.4M ▼ $-21.1M ▲ -0.224% ▲ $-0.37 ▲ $27M ▲
Q4-2024 $9.729B ▼ $77.4M ▲ $-101.8M ▼ -1.046% ▼ $-2.87 ▼ $-39.8M ▼
Q3-2024 $10.526B $71.8M $33.5M 0.318% $0.57 $107.9M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $473.6M ▲ $6.06B ▲ $4.434B ▼ $1.618B ▲
Q2-2025 $403.2M ▼ $6.054B ▼ $4.449B ▼ $1.599B ▼
Q1-2025 $456.4M ▲ $6.589B ▼ $4.661B ▼ $1.921B ▼
Q4-2024 $382.9M ▲ $6.732B ▼ $4.776B ▼ $1.949B ▼
Q3-2024 $373.8M $6.985B $4.934B $2.044B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $28.2M ▲ $116.1M ▲ $0 ▼ $-32.6M ▲ $70.4M ▲ $102M ▲
Q2-2025 $-339.1M ▼ $28.3M ▼ $1M ▲ $-98.6M ▼ $-53.2M ▼ $13.3M ▼
Q1-2025 $-21.3M ▲ $114.4M ▼ $-5.8M ▲ $-32.4M ▲ $73.5M ▲ $99.2M ▼
Q4-2024 $-101.2M ▼ $120.3M ▲ $-34.4M ▲ $-68M ▼ $9.1M ▲ $102.5M ▲
Q3-2024 $33.4M $-38.5M $-64.9M $-47.9M $-150.8M $-56.7M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Aviation Segment
Aviation Segment
 $9.88Bn ▲$4.65Bn ▼$4.73Bn ▲$4.87Bn ▲
Land Segment
Land Segment
 $6.37Bn ▲$2.87Bn ▼$2.42Bn ▼$2.54Bn ▲
Marine Segment
Marine Segment
 $4.46Bn ▲$1.93Bn ▼$1.89Bn ▼$1.99Bn ▲

Five-Year Company Overview

Income Statement

Income Statement World Kinect’s income statement shows a business with very high sales but structurally thin margins, which is typical for fuel distribution and energy logistics. Revenue surged coming out of 2020, peaked a couple of years ago, and has eased back more recently as energy prices and volumes normalized, but still sits well above pre‑pandemic levels. Profitability has been positive and reasonably consistent, with operating profits holding up even as revenue stepped down, suggesting better cost control and pricing discipline. Net income and earnings per share move around with energy cycles but remain solidly in the black, pointing to a resilient business model that can absorb volatility, though not without some swing in results year to year.

Balance Sheet

Balance Sheet The balance sheet looks steady rather than flashy. Total assets and shareholders’ equity have been broadly stable over the past few years, indicating a mature, established platform rather than a highly levered growth story. Debt is meaningful but not extreme for this kind of asset‑light, working‑capital‑intensive business, and it has ticked up compared with the early pandemic period. Cash on hand is adequate but not abundant, implying the company relies on its banking lines and ongoing cash generation to manage daily operations. Overall, the financial position appears balanced, but the company does not have an oversized cash cushion and must continue to manage leverage and liquidity carefully in a cyclical sector.

Cash Flow

Cash Flow Cash flow is a relative strength. The company has produced positive operating cash flow every year, even when profits were under some pressure, which is a good sign for the underlying health of the business model. Free cash flow has also stayed positive, though it varies with working capital swings and energy price movements. Investment spending has been moderate and manageable, suggesting management is selective with capital projects and acquisitions. The combination of dependable cash generation and controlled investment needs provides flexibility, but the business remains exposed to short‑term cash swings when fuel prices or customer volumes move sharply.

Competitive Edge

Competitive Edge World Kinect benefits from a wide and deep global network, with long‑standing relationships across aviation, marine, and land transportation customers in many countries. Its core edge lies in logistics expertise, the ability to source and deliver fuel reliably almost anywhere, and the know‑how to navigate complex regulations and supply chains. Serving large airlines, shipping companies, and government agencies builds credibility and creates switching costs, as these customers value reliability and global coverage. The company also differentiates itself by layering services on top of fuel—such as risk management, payment and trip support, and energy advisory—which helps reduce pure commodity exposure. The main competitive risks are intense price competition in fuel, the bargaining power of large customers, and the need to keep pace with both traditional oil majors and newer energy service providers as the market evolves.

Innovation and R&D

Innovation and R&D World Kinect is leaning heavily on digitalization and sustainability rather than classic lab‑based R&D. Moving its core systems to the cloud and building platforms like the myWorld portal and World Kinect Online have improved speed, reliability, and customer experience, and should help scale higher‑margin services. The company is also investing in analytics, carbon reporting tools, and solutions that help clients manage emissions, including access to renewable power, energy certificates, and sustainable aviation fuel. Strategic acquisitions have added technology, payments capabilities, and expanded energy offerings. The opportunity is to shift more of the business mix toward these value‑added, lower‑carbon services, but success will depend on execution, customer adoption, and how quickly regulation and demand for sustainable solutions develop.

Summary

Overall, World Kinect looks like a mature energy logistics and services provider that has weathered recent market swings reasonably well. The business generates large volumes of revenue on thin margins, but has maintained consistent profitability and solid cash flow, supported by a broad global network and strong customer relationships. Its financial position is stable, though not overly conservative, with manageable leverage and modest cash reserves that require ongoing discipline in a cyclical environment. Strategically, the company is working to evolve from a traditional fuel distributor into a more integrated energy solutions and sustainability partner, using digital platforms and carbon‑related services to deepen customer ties. Key things to monitor include its ability to grow higher‑margin service and sustainability offerings, maintain resilience through commodity cycles, and balance investment in new initiatives with careful stewardship of the balance sheet and cash flow.

NEWS

November 11, 2025 · 4:15 PM UTC

World Kinect Corporation Extends $2 Billion Credit Facility to 2030

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November 5, 2025 · 4:15 PM UTC

World Kinect Corporation Completes Acquisition of Universal Weather and Aviation's Trip Support Services Business

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October 23, 2025 · 4:15 PM UTC

World Kinect Corporation Reports Third Quarter 2025 Results

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October 23, 2025 · 8:20 AM UTC

World Kinect Corporation Appoints Ira M. Birns as Chief Executive Officer and Member of the Board of Directors

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October 22, 2025 · 4:15 PM UTC

World Kinect Corporation Names Andrea Smith to the Board of Directors

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