Forensic Analysis · Energy / Oil & Gas · as of Nov 9, 2026
World Kinect Corp (WKC)
A forensic read on World Kinect Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.6
Distress distance
Clean
Earnings quality
2
Forensic signals
-37.8%
ROE
-12.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
World Kinect Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.6, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-16.6%
FY2025
Return on invested capital.Return on invested capital is -16.6% in the latest fiscal year and slipping across FY2023–FY2025 from 5.1%. After-tax operating profit was $159M in FY2023 and ($446M) in FY2025, with operating income at 0.4% of revenue in FY2023, 0.5% in FY2024 and -1.5% in FY2025. The capital base behind it came down -13% across FY2023–FY2025, from $3.1B to $2.7B, so this return is struck on a smaller base than it started on. FY2023's operating profit carried a $33M asset write-down and a $7M restructuring charge that took about 1.0 points off that year's return, and FY2025's carried a $690M asset write-down, a $528M goodwill write-off and a $103M restructuring charge that took about 38.9 points off the latest; so, net of each other, the two charges take about 37.9 points off the -21.7-point change across FY2023–FY2025. FY2024's operating profit carried a $29M asset write-down and a $7M restructuring charge that alone took about 0.8 points off that year's return; FY2024 sits between the two ends of FY2023–FY2025, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$528M
FY2025
Goodwill impairments.Took $528M of goodwill writedowns across 1 year (FY2025 ($528M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$36.92B
Revenue Growth YoY-12.5%
Revenue CAGR (2yr)-12.0%
Net Margin-1.7%
Free Cash Flow$227.3M
Return on Equity-37.8%
Debt / Equity0.54x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from World Kinect Corp's actual 10-K/10-Q/8-K filings?