World Kinect Corporation — Earnings Quality Grade F
WKC · Energy
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 22 days, change +1 days YoY
AR outpaced revenue for 2 consecutive years
Revenue -12.5%, CFFO 12.7%. Cash follows revenue
Expense Quality
Inventory -11.5% vs COGS -12.6%. Normal
CapEx growth -3.8% vs revenue -12.5%. Normal
SG&A/Gross Profit = 76.0%, exceeds 70%
Gross margin 2.6%, change +0.1pp. Stable
Cash Flow Quality
CFFO/NI = -0.48. Below 1.0
FCF $0.2B, FCF/NI = -0.37
Accruals ratio = -15.5%. Low accruals
Cash $0.2B covers only 28% of debt $0.7B
Balance Sheet Health
Goodwill+Intangibles $1.0B = 81% of equity. Over 50%
Debt/EBITDA = -1.3x. Healthy
Other assets 18.3% vs revenue -12.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -27% YoY. Normal
Manipulation Score
M-Score = -3.36 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25