WORLD KINECT CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WORLD KINECT CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	27,016	33,696	39,750	36,819	20,358	31,337	59,043	47,711	42,168	36,917
Cost of revenue	26,117	32,763	38,732	35,707	19,507	30,549	57,954	46,652	41,142	35,969
Gross profit	899	932	1,019	1,112	852	788	1,089	1,058	1,026	948
General and administrative	297	307	300	322	311	248	309	308	297	283
Operating expenses	710	887	759	812	714	646	816	860	816	1,513
Operating income	189	45.6	260	300	138	143	273	198	211	-565
Interest expense	43.7	66.3	74.8	80	48.6	47.2	117	136	116	112
Interest income	4.5	6	3.9	6.2	3.6	7	6.8	7.8	13.8	11.4
Other non-operating income	-46.7	-66.7	-74.8	-62.4	23.9	-42.5	-128	-131	-115	-175
Pre-tax income	142	-21.1	185	237	162	100	145	66.7	95.5	-740
Income tax	15.7	149	55.9	56.2	52.1	25.8	29.2	13	27.6	-128
Net income to minority interests	0	-0.1	1.3	2.2	0.1	0.5	1.7	0.8	0.5	2.7
Net income	127	-170	128	179	110	73.7	114	52.9	67.4	-614
EBITDA	271	132	341	387	224	224	381	303	317	-467
EPS, basic	1.82	-2.50	1.89	2.71	1.72	1.17	1.83	0.86	1.14	-10.99
EPS, diluted	1.81	-2.50	1.89	2.69	1.71	1.16	1.82	0.86	1.13	-10.99
Shares, basic (weighted)	69.3	68.1	67.4	66.1	63.7	62.9	62.3	61.4	59	55.9
Shares, diluted (weighted)	69.8	68.1	67.7	66.5	64	63.3	62.7	61.7	59.5	55.9
Dividend per share	0.24	0.24	0.24	0.36	0.40	0.48	0.52	0.56	0.68	0.77

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	699	372	212	186	659	652	298	304	383	194
Receivables	2,344	2,706	2,740	2,892	1,238	2,355	3,294	2,736	2,433	2,209
Inventory	458	505	523	593	344	478	780	665	514	454
Other current assets	231	242	280	359	280	306	480	446	382	457
Total current assets	3,837	3,940	3,975	4,170	2,639	4,020	5,238	4,504	3,959	3,501
Property, plant and equipment	311	330	350	361	343	349	484	515	513	348
Lease right-of-use assets				154	141	151	189	181	173	156
Goodwill	836	846	853	844	859	862	1,233	1,238	1,182	738
Intangible assets	282	280	245	222	203	189	336	300	261	312
Other non-current assets						523	873	819	816	966
Total assets	5,413	5,588	5,677	5,992	4,500	5,942	8,165	7,375	6,732	5,864
Accounts payable	1,770	2,240	2,400	2,603	1,215	2,400	3,530	3,098	2,727	2,587
Accrued liabilities	306	345	377	379	240	293	738	745	536	659
Short-term debt	15.4	25.6	41.1	54.1	22.9	30.6	15.8	78.8	84	11.9
Total current liabilities	2,183	2,719	2,936	3,162	1,684	3,097	4,609	4,050	3,438	3,310
Long-term debt	1,171	885	660	575	502	478	830	809	797	685
Lease liabilities				125	124	134	164	158	144	133
Other non-current liabilities	34.5	44.2	54.9	151	186	237	735	567	541	560
Total liabilities	3,473	3,850	3,845	4,099	2,587	4,026	6,174	5,426	4,776	4,556
Total debt	1,186	910	701	629	525	509	846	888	881	697
Paid-in capital	400	355	340	275	205	168	182	110	30	0
Retained earnings	1,679	1,493	1,606	1,761	1,837	1,881	1,963	1,982	2,009	1,316
Other comprehensive income	-155	-127	-132	-146	-133	-137	-161	-149	-91	-17.3
Shareholders' equity	1,925	1,722	1,815	1,890	1,909	1,913	1,985	1,943	1,949	1,299
Minority interests	15	16	16.1	3.5	3.6	4.1	5.9	6.7	7.2	8.8
Total equity	1,940	1,738	1,832	1,894	1,913	1,917	1,991	1,950	1,956	1,308
Total liabilities and equity	5,413	5,588	5,677	5,992	4,500	5,942	8,165	7,375	6,732	5,864
Shares outstanding	69.9	67.7	67	65.2	62.9	61.7	62	59.8	56.7	54.1

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	126	-170	129	181	110	74.2	116	53.7	67.9	-612
Depreciation and amortization	82.3	86	81.5	87.4	85.8	81	108	105	106	98.2
Stock-based compensation	19.2	21.2	8.3	23.6	-0.9	19.6	17.6	24.2	28.1	25.5
Deferred income tax	-36	13.9	-3.2	3.4	-14.4	-7.6	-18.5	-30.7	-15.3	-176
Change in receivables	-661	-705	-445	-164	1,300	-1,133	-871	569	259	106
Change in inventory	-49.5	-43.9	-11.8	-61.3	251	-135	-252	187	133	1
Change in payables	423	451	171	144	-1,224	1,189	1,108	-442	-356	-32.6
Cash from operations	50.7	-134	-183	229	604	173	139	271	260	293
Capital expenditures	-36.1	-54	-72.3	-80.9	-51.3	-39.2	-78.6	-87.6	-68.2	-65.6
Acquisitions	-431	-121	-21.3	0	-129	-37.1	-644	-13.7	-40	-154
Purchases of investments	-1
Cash from investing	-274	159	286	-50.5	72.8	-58.3	-725	-101	64.5	-170
Debt issued	4,688	4,473	6,188	5,002	2,095	0.3	6,945	5,922	3,844	3,602
Debt repaid	-4,280	-4,750	-6,407	-5,080	-2,207	-24.2	-6,611	-6,224	-3,876	-3,774
Share buybacks	-41.2	-61.9	-20	-65.4	-68.3	-50.5	-48.7	-60.1	-100	-85
Dividends paid	-16.6	-16.3	-16.2	-21.1	-25.6	-28.7	-31	-34	-38.5	-41.3
Cash from financing	341	-362	-257	-205	-213	-114	237	-152	-231	-315
Exchange rate effect		10.3	-7	1	8.8	-7.8	-4.7	-12	-15.2
Net change in cash	116	-326	-161	-25.6	473	-6.6	-354	5.9	78.7	-189
Free cash flow	14.6	-188	-255	148	553	134	59.9	184	192	227
Interest paid	40.7	64.9	73.8	77	45.1	44.4	113	130	114	106
Income taxes paid	37.5	50.8	85.3	82.9	68.5	39	66.6	42	51.6	97

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $35.65 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	2.7%	Gross profit / revenue.
Operating margin	-0.1%	Operating income / revenue.
EBITDA margin	0.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.4%	Pre-tax income / revenue.
Net margin	-0.4%	Net income / revenue.
FCF margin	0.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	0.2%	Cash from operations / revenue.
Return on equity (ROE)	-14.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.7%	Net income / average total assets.
Return on invested capital (ROIC)	-2.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-12.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-14.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-7.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-4.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-368.1%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-247.2%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-1,012.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-1,073.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	12.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	28.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-13.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	18.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	56.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-16.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	13.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	14.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	14.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-33.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-13.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-7.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-10.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-6.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.06x	Current assets / current liabilities.
Quick ratio	0.77x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.59x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	11.3%	Total debt / total assets.
Liabilities / assets	80.8%	Total liabilities / total assets.
Net debt	$610.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	21.6x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.51x	Operating income / interest expense.
Working capital	$230.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	15.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$221.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	6.32x	Revenue / average total assets.
Fixed asset turnover	119x	Revenue / average property, plant and equipment.
Inventory turnover	70.0x	Cost of revenue / average inventory.
Days inventory	5 days	365 x average inventory / cost of revenue.
Receivables turnover	14.2x	Revenue / average receivables.
Days sales outstanding	26 days	365 x average receivables / revenue.
Days payables	29 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	2 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	76.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.47	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$808.08	Revenue / diluted weighted shares.
FCF per share	$0.38	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.60	Cash from operations / diluted weighted shares.
Book value per share	$24.56	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.32	Tangible book value / shares outstanding.
Cash per share	$2.64	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	220.5%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	663.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.82B	Share price x shares outstanding.
Enterprise value	$2.43B	Market cap + total debt - cash - short-term investments.
P/S	0.04x	Market cap / revenue.
P/B	1.45x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	8.24x	Market cap / tangible book value, when positive.
P/FCF	93.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	22.1x	Market cap / cash from operations, when positive.
EV/Sales	0.06x	Enterprise value / revenue.
EV/EBITDA	86.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	125x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.1%	Free cash flow / market cap.
Earnings yield	-9.8%	Net income / market cap (the inverse of P/E).
Dividend yield	2.4%	Dividends paid over the period / market cap.
Shareholder yield	9.4%	(Dividends paid + share buybacks) / market cap.

What was WORLD KINECT CORP's revenue in fiscal 2025?

WORLD KINECT CORP reported revenue of $36.92B for fiscal 2025, 12.5% lower than the year before.

Was WORLD KINECT CORP profitable in fiscal 2025?

No. It reported a net loss of $614.4M.

How much free cash flow did WORLD KINECT CORP generate in fiscal 2025?

Cash from operations of $292.9M minus capital expenditures of $65.6M left free cash flow of $227.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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