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World Kinect cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$164M in Q3 2026 · $81.9M over twelve months

Operating cash flow$175M
Capital spending−$10.8M
Free cash flow+$164M
Cash / net income4.6×
Cash conversion cycle1 days

Analysis

In Q3 2026, World Kinect generated $175M of operating cash flow and spent $10.8M on capital projects, leaving free cash flow of $164M. That is $62.4M more than in Q3 2025 ($102M).

Over the twelve months to Sep 30, 2026, operating cash flow was $142M; the largest uses were other investing ($151M), buybacks ($129M), net borrowing (+) / repaid (−) ($99.2M); besides operations, cash came from asset & business sales ($93.2M); the cash balance fell by $256M.

Operating cash flow was $175M against net income of $37.9M — 4.6× profit, cash ran ahead of reported earnings. The largest differences: payables +$511M, receivables −$243M, inventory −$164M.

Its cash conversion cycle was 1 days (receivables 21 + inventory 5 − payables 25).

Free cash flow

World Kinect: free cash flow by quarterWorld Kinect: free cash flow by quarter$102MQ4 2024$99.2MQ1 2025$13.2MQ2 2025$102MQ3 2025$12.8MQ4 2025−$60.2MQ1 2026−$35.1MQ2 2026$164MQ3 2026
Operating cash flow less capital spending.
World Kinect: operating cash flow against capital spendingWorld Kinect: operating cash flow against capital spendingOperating cash flowCapital spending$120M$17.9MQ4 2024$114M$15.2MQ1 2025$28.2M$15.0MQ2 2025$116M$14.1MQ3 2025$34.2M$21.4MQ4 2025−$46.4M$13.8MQ1 2026−$21.3M$13.8MQ2 2026$175M$10.8MQ3 2026
Latest (Q3 2026): Operating cash flow $175M, Capital spending $10.8M.

Capital allocation, year by year

World Kinect: where the cash came from (up) and went (down), by fiscal yearWorld Kinect: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $173MFY2021: Net borrowing $86.4MFY2021: Asset sales $25.0MFY2021: Capital spending −$39.2MFY2021: Acquisitions −$37.1MFY2021: Buybacks −$50.5MFY2021: Dividends −$28.7M$285MFY2021FY2022: Operating cash flow $138MFY2022: Net borrowing $700MFY2022: Capital spending −$78.6MFY2022: Acquisitions −$644MFY2022: Buybacks −$48.7MFY2022: Dividends −$31.0M$838MFY2022FY2023: Operating cash flow $271MFY2023: Net borrowing −$307MFY2023: Asset sales $9.3MFY2023: Capital spending −$87.6MFY2023: Acquisitions −$13.7MFY2023: Buybacks −$60.1MFY2023: Dividends −$34.0M$281MFY2023FY2024: Operating cash flow $260MFY2024: Net borrowing −$42.2MFY2024: Asset sales $209MFY2024: Capital spending −$68.2MFY2024: Acquisitions −$40.0MFY2024: Buybacks −$100MFY2024: Dividends −$38.5M$469MFY2024FY2025: Operating cash flow $293MFY2025: Net borrowing −$178MFY2025: Asset sales $23.4MFY2025: Capital spending −$65.6MFY2025: Acquisitions −$154MFY2025: Buybacks −$85.0MFY2025: Dividends −$41.3M$316MFY2025
Over these 5 years operating cash flow totalled $1.1B; the largest uses were acquisitions ($888M) and net borrowing ($527M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$218M
Debt$694M
Net debt$476M
Due within a year$9.9M

World Kinect funds itself: free cash flow was $81.9M over the last twelve months, and $218M of cash and investments stands against $694M of debt ($9.9M due within a year, 22.0× covered by cash).

Where the cash came from and went

World Kinect: sources (+) and uses (−) of cash, Q3 2026World Kinect: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$175MCash drawn (+) / kept (−)−$82.6MNet borrowing (+) / repaid (−)−$57.9MOther investing−$15.2MDividends−$11.7MCapital spending−$10.8MAsset & business sales$8.7MExchange rates−$5.6MOther financing−$100K
World Kinect: sources (+) and uses (−) of cash, TTM to Q3 2026World Kinect: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$256MOther investing−$151MOperating cash flow$142MBuybacks−$129MNet borrowing (+) / repaid (−)−$99.2MAsset & business sales$93.2MCapital spending−$59.8MDividends−$43.6MOther financing−$6.5MNot reconciled−$1.0M

From profit to cash

World Kinect: net income to operating cash flow, Q3 2026World Kinect: net income to operating cash flow, Q3 2026Net income$37.9MDepreciation & amortization$21.8MStock-based pay$9.8MDeferred taxes−$2.0MImpairments$900KOther non-cash−$1.8MReceivables−$243MInventory−$164MPayables$511MAccrued liabilities$5.3MPrepaid and other assets$4.0MOther liabilities−$4.7MOperating cash flow$175M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026215251
Q2 2026195231
Q1 2026236290
Q4 2025225270
Q3 2025215250
Q2 2025225261
Q1 2025225262
Q4 2024235272

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$175M−$10.8M—−$11.7M−$57.9M−$82.6M$164M
Q2 2026−$21.3M−$13.8M−$14.3M−$10.2M−$52.4M$15.8M−$35.1M
Q1 2026−$46.4M−$13.8M−$75.0M−$10.7M$102M$42.4M−$60.2M
Q4 2025$34.2M−$21.4M−$40.0M−$11.0M−$91.0M$280M$12.8M
Q3 2025$116M−$14.1M—−$11.1M−$21.9M−$70.4M$102M
Q2 2025$28.2M−$15.0M−$35.0M−$9.5M−$50.4M$53.2M$13.2M
Q1 2025$114M−$15.2M−$10.0M−$9.7M−$8.4M−$73.5M$99.2M
Q4 2024$120M−$17.9M−$42.6M−$9.9M−$13.1M−$9.2M$102M

World Kinect: income statement and cash flow

World Kinect, Q3 2026: revenue $13.3B (+41% year over year), operating margin 0.6%. The chart follows the revenue to costs, profit and cash.

World Kinect: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.