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World Kinect Corporation, together with its subsidiaries, operates as an energy management company in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in three segments: Aviation, Land, and Marine. The Aviation segment supplies jet fuel, sustainable aviation fuel, aviation gasoline, and aviation fuel to commercial and international airlines, regional airlines, cargo carriers, airports, fixed-based operators, corporate fleets, charter and fractional operators, the U.S. and foreign governments, and military customers. This segment also provides fuel management; ground handling; dispatch services; and trip support services, such as flight planning and scheduling. The Land segment engages in the sale of liquid fuels, natural gas, and related products and services to commercial, industrial, residential, and government customers; and the transportation, manufacturing, mining, and construction industries, as well as retail fuel outlets under long-term contracts. The Marine segment markets fuel, lubricants, and related products and services to international container, dry bulk and tanker fleets, commercial cruise lines, yachts and time charter operators, the U.S. and foreign governments, and other fuel suppliers. This segment also provides marine fuel-related services, such as management services for the procurement of fuel, cost control, quality control, and claims management, as well as engages in the fueling of vessels in ports and at sea, and transportation and delivery of fuel and fuel-related products. The company was formerly known as World Fuel Services Corporation and changed its name to World Kinect Corporation in June 2023. World Kinect Corporation was incorporated in 1984 and is headquartered in Miami, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $36.9B | $-530M | $-614M | $227M | -47.3% | -12.5% | -1011.6% |
| 2024 | $42.2B | $318M | $67M | $192M | 3.5% | -11.6% | 27.4% |
| 2023 | $47.7B | $307M | $53M | $184M | 2.7% | -19.2% | -53.6% |
| 2022 | $59.0B | $370M | $114M | $60M | 5.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 59,043.10 | 47,710.60 | 42,168 | 36,916.60 |
| Operating Revenue | - | 59,043.10 | 47,710.60 | 42,168 | 36,916.60 |
| Cost Of Revenue | - | 57,954.10 | 46,652.40 | 41,141.60 | 35,968.80 |
| Gross Profit | - | 1,089.10 | 1,058.20 | 1,026.40 | 947.80 |
| Operating Expense | - | 816.10 | 820.30 | 779.60 | 719.90 |
| Selling General And Administration | - | 816.10 | 820.30 | 779.60 | 719.90 |
| Total Expenses | - | 58,770.20 | 47,472.70 | 41,921.20 | 36,688.70 |
| Operating Income | - | 273 | 237.90 | 246.80 | 227.90 |
| Total Operating Income As Reported | - | 273.20 | 198 | 210.60 | -564.70 |
| EBITDA | - | 370.30 | 306.70 | 317.90 | -529.50 |
| Normalized EBITDA | - | 370.10 | 346.70 | 354 | 263.20 |
| EBIT | - | 262.50 | 202.20 | 211.50 | -627.70 |
| Interest Income | - | 6.80 | 7.80 | 13.80 | 11.40 |
| Interest Expense | - | 117.40 | 135.50 | 116 | 112 |
| Net Interest Income | - | -110.60 | -127.70 | -102.20 | -100.60 |
| Other Non Operating Income Expenses | - | -17.50 | -3.60 | -12.90 | -74.30 |
| Other Income Expense | - | -17.30 | -43.60 | -49 | -867 |
| Interest Income Non Operating | - | 6.80 | 7.80 | 13.80 | 11.40 |
| Interest Expense Non Operating | - | 117.40 | 135.50 | 116 | 112 |
| Net Non Operating Interest Income Expense | - | -110.60 | -127.70 | -102.20 | -100.60 |
| Pretax Income | - | 145.10 | 66.70 | 95.50 | -739.70 |
| Tax Provision | - | 29.20 | 13 | 27.60 | -127.90 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.04 | -7.80 | -10.43 | -137.14 |
| Net Income Continuous Operations | - | 115.90 | 53.70 | 67.90 | -611.70 |
| Net Income From Continuing And Discontinued Operation | - | 114.10 | 52.90 | 67.40 | -614.40 |
| Net Income From Continuing Operation Net Minority Interest | - | 114.10 | 52.90 | 67.40 | -614.40 |
| Net Income | - | 114.10 | 52.90 | 67.40 | -614.40 |
| Net Income Common Stockholders | - | 114.10 | 52.90 | 67.40 | -614.40 |
| Net Income Including Noncontrolling Interests | - | 115.90 | 53.70 | 67.90 | -611.70 |
| Normalized Income | - | 113.94 | 85.10 | 93.07 | 41.16 |
| Diluted NI Availto Com Stockholders | - | 114.10 | 52.90 | 67.40 | -614.40 |
| Basic Average Shares | - | 62.30 | 61.40 | 59 | 55.90 |
| Diluted Average Shares | - | 62.70 | 61.70 | 59.50 | 55.90 |
| Reconciled Depreciation | - | 107.80 | 104.50 | 106.40 | 98.20 |
| Reconciled Cost Of Revenue | - | 57,954.10 | 46,652.40 | 41,141.60 | 35,968.80 |
| Total Unusual Items | - | 0.20 | -40 | -36.10 | -792.70 |
| Total Unusual Items Excluding Goodwill | - | 0.20 | -40 | -36.10 | -792.70 |
| Minority Interests | - | -1.70 | -0.80 | -0.50 | -2.70 |
| Special Income Charges | - | 0.20 | -40 | -36.10 | -792.70 |
| Write Off | 4.70 | 0.60 | 32.80 | 29 | - |
| Impairment Of Capital Assets | 4.70 | - | 32.80 | 29 | 689.60 |
| Restructuring And Mergern Acquisition | - | -0.80 | 7.20 | 7.10 | 103.10 |
| General And Administrative Expense | - | 816.10 | 820.30 | 779.60 | 719.90 |
| Other Gand A | - | 308.70 | 308 | 297.10 | 282.50 |
| Salaries And Wages | - | 507.40 | 512.30 | 482.50 | 437.40 |
Energy sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| World Kinect Corporationthis co. | WKC | $1.5B | -2.49 | 1.18 | -47.3% | -3.83 |
| Dorian LPG Ltd. | LPG | $1.7B | 8.95 | 1.52 | 17.0% | 7.24 |
| RPC, Inc. | RES | $1.6B | 50.16 | 1.46 | 2.9% | 6.69 |
| FLEX LNG Ltd. | FLNG | $1.6B | 21.41 | 2.23 | 10.4% | 12.30 |
| Borr Drilling Limited | BORR | $1.6B | 34.64 | 1.28 |
| - |
| - |
| - |
| - |
| - |
| - |
| 3.7% |
| 7.37 |
| Nabors Industries Ltd. | NBR | $1.5B | 5.22 | 2.53 | 48.5% | 2.18 |
| ProFrac Holding Corp. | ACDC | $1.5B | -3.95 | 2.03 | -51.4% | 14.04 |
| Helix Energy Solutions Group, Inc. | HLX | $1.4B | 46.49 | 0.91 | 2.0% | 7.70 |
| Navigator Holdings Ltd. | NVGS | $1.3B | 13.40 | 1.09 | 8.2% | 6.95 |
| Peer Median | - | 17.41 | 1.49 | 5.9% | 7.31 | |