WKC

MKT CAP:$1B

World Kinect Corporation

Market Cap

$1B

Energy·Oil & Gas Refining & Marketing·🇺🇸 United States·NYSE

Energy·Oil & Gas Refining & Marketing·🇺🇸·NYSE

Stock Price

$23.18-$0.94 (-3.90%)

Apr 22, 2026

Company Details

World Kinect Corporation engages in the distribution of fuel and related products and services in the aviation, marine and land transportation industries worldwide. Its Aviation segment supplies fuel and related products and services to com...

CEO

Ira Birns

IPO Date

Aug 28, 1986

Website

worldkinect.com

Key Metrics TTM

Revenue

$37.3B

-16.2% YoY

Net Income

-$742M

EPS (Diluted)

-$14.33

Free Cash Flow

$228M

Revenue / Share

$679.82

Gross Margin

1.4%

Operating Margin

0.7%

Net Margin

-2.0%

FCF Margin

0.6%

P/S

0.0x

P/E

—

Earnings Reports

Q4 2025

Feb 23, 2026

$9.0B-7.2%EPS -$5.11

Q2 2025

Aug 1, 2025

$9.1B-17.7%EPS -$6.01

Q1 2025

Apr 25, 2025

$9.4B-13.2%EPS -$0.37

Q4 2024

Feb 25, 2025

$9.7B-19.1%EPS -$2.84

Q3 2024

Oct 25, 2024

$10.5BEPS $0.57

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$7.9B	$53M	-$31M
Q3 20	$4.4B	$170M	$89M
Q1 21	$6.3B	$77M	$17M
Q2 21	$7.1B	$22M	-$36M
Q4 21	$9.6B	$15M	-$55M
Q1 22	$12.3B	$67M	-$8M
Q4 22	$13.9B	$162M	$92M
Q1 23	$12.6B	$242M	$163M
Q4 23	$12.0B	$125M	$53M
Q1 24	$10.9B	$63M	-$13M
Q2 24	$11.0B	$173M	$100M
Q3 24	$10.5B	$176M	$104M
Q4 24	$9.7B	$151M	$74M
Q1 25	$9.4B	$118M	$46M
Q2 25	$9.1B	$141M	$74M
Q4 25	$9.0B	$121M	$50M

Valuation

Quarter	P/S	P/E
Q1 20	0.0x	9.3x
Q3 20	0.0x	7.1x
Q1 21	0.1x	7.4x
Q2 21	0.1x	9.3x
Q4 21	0.1x	11.1x
Q1 22	0.0x	18.9x
Q4 22	0.0x	18.4x
Q1 23	0.0x	17.3x
Q4 23	0.0x	42.0x
Q1 24	0.0x	40.8x
Q2 24	0.0x	12.0x
Q3 24	0.0x	11.0x
Q4 24	0.0x	22.0x
Q1 25	0.0x	78.3x
Q2 25	0.0x	—
Q4 25	0.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$10M	-$8M
Q3 20	$246M	$233M
Q1 21	$103M	$101M
Q2 21	$37M	$25M
Q4 21	-$50M	-$61M
Q1 22	-$72M	-$89M
Q4 22	-$91M	-$113M
Q1 23	$143M	$124M
Q4 23	$5M	-$15M
Q1 24	-$13M	-$30M
Q2 24	$115M	$101M
Q3 24	-$39M	-$57M
Q4 24	$120M	$103M
Q1 25	$114M	$99M
Q2 25	$28M	$13M
Q4 25	$34M	$13M

Capital Expenditures

Quarter	CapEx
Q1 20	$17M
Q3 20	$13M
Q1 21	$2M
Q2 21	$12M
Q4 21	$11M
Q1 22	$17M
Q4 22	$22M
Q1 23	$19M
Q4 23	$20M
Q1 24	$18M
Q2 24	$15M
Q3 24	$18M
Q4 24	$18M
Q1 25	$15M
Q2 25	$15M
Q4 25	$21M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 20	-11.5%	-10.8%
Q3 20	-51.4%	-52.2%
Q1 21	-36.6%	-36.6%
Q2 21	-23.7%	-22.8%
Q4 21	+21.0%	+21.2%
Q1 22	+178.1%	+183.9%
Q4 22	+121.2%	+120.4%
Q1 23	+77.7%	+74.6%
Q4 23	+25.5%	+24.2%
Q1 24	-11.9%	-11.8%
Q2 24	-20.6%	-20.8%
Q3 24	-16.3%	-16.0%
Q4 24	-19.1%	-19.4%
Q1 25	-13.2%	-13.7%
Q2 25	-17.7%	-17.7%
Q4 25	-14.2%	-13.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	-$2M	-0.0%
Q3 20	$2M	0.0%
Q1 21	$9M	0.1%
Q2 21	$3M	0.0%
Q4 21	$4M	0.0%
Q1 22	$4M	0.0%
Q4 22	$4M	0.0%
Q1 23	$6M	0.0%
Q4 23	$8M	0.1%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$6M	0.1%
Q4 24	$10M	0.1%
Q1 25	$7M	0.1%
Q2 25	$2M	0.0%
Q4 25	$12M	0.1%

OpEx Breakdown

Quarter	SG&A
Q1 20	$84M
Q3 20	$81M
Q1 21	$59M
Q2 21	$57M
Q4 21	$70M
Q1 22	$75M
Q4 22	$70M
Q1 23	$79M
Q4 23	$72M
Q1 24	$75M
Q2 24	$73M
Q3 24	$72M
Q4 24	$77M
Q1 25	$72M
Q2 25	$67M
Q4 25	$73M

Revenue Segments

Quarter	Aviation Segment	Land Segment	Marine Segment
Q2 24	$5.4B	$3.3B	$2.3B
Q3 24	$5.2B	$3.2B	$2.1B
Q1 25	$4.7B	$2.9B	$1.9B
Q2 25	$4.7B	$2.4B	$1.9B
Q4 25	$4.7B	$2.4B	$1.9B

Revenue by Geography

Quarter	Asia Pacific	Emea	Latin America	North America
Q2 24	$1.4B	$2.6B	$1.3B	$5.7B
Q3 24	$1.3B	$2.6B	$1.3B	$5.3B
Q1 25	$1.1B	$2.0B	$1.3B	$5.0B
Q2 25	$1.1B	$1.9B	$979M	$5.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$386M	$0	$386M
Q3 22	$280M	$0	$280M
Q4 22	$298M	$0	$298M
Q1 23	$217M	$0	$217M
Q2 23	$294M	$0	$294M
Q3 23	$336M	$0	$336M
Q4 23	$304M	$0	$304M
Q1 24	$321M	$0	$321M
Q2 24	$525M	$0	$525M
Q3 24	$374M	$0	$374M
Q4 24	$383M	$0	$383M
Q1 25	$456M	$0	$456M
Q2 25	$403M	$0	$403M
Q3 25	$474M	$0	$474M
Q4 25	$194M	$0	$194M
Q1 26	$151M	$0	$151M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	65M	-0.8%	-3.0%
Q3 20	64M	-2.8%	-6.3%
Q1 21	64M	0.0%	-5.6%
Q2 21	64M	+0.3%	-3.2%
Q4 21	62M	-2.2%	-4.6%
Q1 22	64M	+2.1%	+0.2%
Q4 22	63M	-1.9%	-1.7%
Q1 23	63M	+0.5%	-1.6%
Q4 23	60M	-4.3%	-3.7%
Q1 24	60M	+0.3%	-5.3%
Q2 24	60M	-0.5%	-4.0%
Q3 24	59M	-1.3%	-5.7%
Q4 24	60M	+0.5%	-1.0%
Q1 25	57M	-4.5%	-5.8%
Q2 25	57M	-0.5%	-5.8%
Q4 25	55M	-3.0%	-7.4%

Shares Outstanding