World Kinect Corp

Energy
Oil Refining/Marketing
www.world-kinect.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.64B
PE 11
Debt $968.00M
Cash $373.80M
EV $2.24B
FCF -$1.70M

Earnings

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Sales & Net Margins

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Earnings	$143.40M
EBIT	$62.00M
ROE	7%
ROA	1%
FCF	-$1.70M
Equity	$2.05B
Growth Stability	-98%
PE	11.46
PEG	-1.84
PB	0.8
P/FCF	-966.51
P/S	-0.38
Price/Cash	0.23
Debt/Equity	0.47
Debt/FCF	-569.41
Net Margins	1%
Gross Margins	1%
Op. Margins	-1%
Earnings CAGR	-4%
Sales CAGR	4%
FCF CAGR	-2%
Equity CAGR	1%
Earnings Stability	0.06
Earnings CAGR 5Y	-6%
Sales CAGR 5Y	14%

FCF CAGR 5Y	-11%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	0%
Sales CAGR 3Y	0%
FCF CAGR 3Y	9%
Equity CAGR 3Y	2%
Market Cap	$1.64B
Revenue	-$4.35B
Dividend Yield	0%
Payout Ratio	2%
Assets	$6.98B
Total Debt	$968.00M
Cash	$373.80M
Shares Outstanding	58.1M
EV	2.24B
Earnings Score	6%
Moat Score	47%
Safety Score	40%
Final Score	31%
Working Capital	587.6M
Current Ratio	1.16
Gross Profit	-$36.60M
Shares Growth 3y	-3%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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World Fuel Services Corp is a global fuel logistics, transaction management, and payment-processing company that provides management solutions to companies in the aviation, marine, and land transportation industries. Through its three segments, the company offers fuel, lubricants, and crude oil to a diverse customer base. To aid customers with price-management, the company may enter into derivative contracts to mitigate the risk of market price fluctuations. World Fuel Services also offers fuel management, procurement of fuel, card payment solutions, and a host of other services in each of its segments. Through a global supplier network of third-party suppliers, the company is able to harvest a significant portion of its revenue from participants in the aviation industry.

SEC Filings

Direct access to World Kinect Corp (WKC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does World Kinect Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of World Kinect Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -4%

Stability 6%

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World Kinect Corp Discounted Cash Flow

Fully customizable DCF calculator online for World Kinect Corp.

Years

Calculation mode

= -$15M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$1.7M	-$1.7M	-$1.6M	-$1.6M	-$1.6M	-$1.5M	-$1.5M	-$1.4M	-$1.4M	-$1.4M	-$1.4M	-$14M
DCF		-$1.5M	-$1.3M	-$1.2M	-$1.1M	-$942K	-$837K	-$744K	-$661K	-$587K	-$522K	-$5.2M
Value	-$15M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	07/2024	TTM
Net Margins	1%	1%	0%	-1%	0%	0%	1%	0%	0%	0%	-	1%
ROA	-	6%	3%	1%	5%	5%	5%	2%	3%	3%	-	1%
ROE	-	9%	7%	-10%	7%	9%	6%	4%	6%	3%	-	7%

Bad Net Margins (0.52%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	07/2024	TTM
Debt over FCF	-	1.95	7.01	6.02	-2.91	4.62	0.99	4.02	14.38	5.26	-	-569.41
Debt over Equity	0.37	0.4	0.61	0.52	0.41	0.36	0.29	0.28	0.43	0.5	-	0.47
Growth Stability	-	-	-	-98%	100%	100%	100%	53%	95%	53%	-	-98%

Good Debt/FCF ratio (-569.41)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.47)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-98%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	07/2024	CAGR 5Y
Revenue YoY growth	-	-30%	-11%	25%	18%	-7%	-45%	54%	88%	-19%	-	14%
Earnings YoY growth	-	-20%	-28%	-235%	-175%	40%	-39%	-33%	55%	-54%	-	-6%
Equity YoY growth	-	3%	1%	-10%	5%	3%	1%	0%	4%	-2%	-	2%
FCF YoY growth	-	336%	-57%	-11%	-269%	-158%	274%	-76%	-55%	207%	-	-11%