World Kinect Corporation (WKC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-122.9%

-$8.57

vs $37.41 price

Levered DCF

$25.87

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.98

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-2.12×	24.13×	26.71×	14.93×	22.62×	18.12×	16.02×	11.33×
P/B	0.99×	0.83×	0.73×	0.86×	0.87×	1.04×	1.52×	0.79×
P/S	0.03×	0.04×	0.03×	0.03×	0.05×	0.1×	0.08×	0.04×
EV / EBITDA	-3.36×	6.91×	6.75×	6.69×	7.44×	6.79×	8.58×	5.66×
Gross margin	1.4%	1.7%	1.6%	0.9%	0.2%	2.6%	1.5%	1.3%
Operating margin	0.7%	1.0%	1.0%	0.4%	-0.6%	1.1%	0.7%	0.6%
Net margin	-1.7%	0.2%	0.1%	0.2%	0.2%	0.5%	0.5%	0.3%
Current ratio	1.06×	1.15×	1.11×	1.14×	1.3×	1.57×	1.32×	1.35×
Debt / equity	0.54×	0.54×	0.55×	0.53×	0.35×	0.36×	0.42×	0.39×
Interest coverage	2.32×	3.6×	3.52×	1.82×	-3.85×	4.35×	3.02×	3.03×
Dividend yield	3.2%	2.4%	2.4%	1.8%	1.7%	1.3%	0.7%	1.1%
Payout ratio	-6.7%	57.1%	64.3%	27.2%	38.9%	23.4%	11.8%	12.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-47.3%	3.5%	2.7%	5.7%	3.9%	5.7%	9.5%	7.0%
Return on invested capital	8.2%	8.7%	11.2%	4.7%	-4.6%	5.0%	6.3%	5.7%
Return on assets	-10.5%	1.0%	0.7%	1.4%	1.2%	2.4%	3.0%	2.2%
Free cash flow yield	17.7%	11.8%	1.0%	3.5%	6.7%	27.9%	5.2%	-17.5%
Earnings yield	-47.8%	4.2%	3.8%	6.7%	4.4%	5.5%	6.2%	8.8%
Enterprise value	$1.8B	$2.3B	$2.2B	$2.5B	$1.7B	$2B	$3.5B	$1.9B
Net debt / EBITDA	-0.95×	2.03×	2.39×	2.04×	0.09×	0.08×	1.49×	1.43×
Cash conversion cycle (days)	0	2	2	3	5	6	8	8