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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for World Kinect's Beneish M-Score or its related term are showing as below:
WKC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.65 Med: -2.48 Max: -0.93
Current: -2.21
During the past 13 years, the highest Beneish M-Score of World Kinect was -0.93. The lowest was -3.65. And the median was -2.48.
The historical data trend for World Kinect's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Refining & Marketing subindustry, World Kinect's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
World Kinect Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, World Kinect's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where World Kinect's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of World Kinect for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.2756
+
0.528 * 0.9499
+
0.404 * 0.9182
+
0.892 * 1.0761
+
0.115 * 0.9385
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0454
+
4.679 * 0.011244
-
0.327 * 1.1039
=
-2.21
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(106.1 / (106.1 + 451.3))
/
(88.9 / (88.9 + 349.4))
=
0.190348
/
0.202829
=
0.9385
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(-179.4 - -336.2
-
82.6)
/
6598.9
=
0.011244
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
World Kinect has a M-score of -2.21 suggests that the company is unlikely to be a manipulator.
World Kinect (WKC) has a Beneish M-Score of -2.21 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on World Kinect and its competitors. According to the industry distribution chart, World Kinect ranks #617 out of 832 companies in the Oil & Gas industry, placing it in the top 74.2%.
Is World Kinect's Beneish M-Score too high?
World Kinect's current Beneish M-Score is -2.21. Based on the distribution chart, World Kinect ranks #617 out of 832 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, World Kinect has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does World Kinect's Beneish M-Score compare to APC and DKL?
According to the Oil & Gas industry distribution chart, World Kinect ranks #617 out of 832 companies for Beneish M-Score. This places World Kinect in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on World Kinect and its competitors. World Kinect's current Beneish M-Score is -2.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is World Kinect stock overvalued right now?
Based on GuruFocus' analysis, World Kinect (WKC) is currently considered Modestly Overvalued. The stock's GF Value™ is $28.23, compared to a current price of $36.84 — trading 30.5% above its estimated fair value. The current Beneish M-Score is -2.21. World Kinect's overall GF Score™ is 71/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For World Kinect (WKC), the current Beneish M-Score is -2.21 as of Aug. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is World Kinect (WKC) Overvalued in 2026?
Based on GuruFocus' analysis, World Kinect stock appears to be overvalued.
The current stock price of $36.84 is trading 30.5% above its estimated GF Value™ of $28.23.
GuruFocus considers World Kinect to be Modestly Overvalued.
Key valuation signals for WKC:
Beneish M-Score: -2.21
GF Value™: $28.23 vs. price of $36.84 (30.5% above fair value)
No single metric tells the full story. See the WKC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
World Kinect Corp is an energy management company involved in providing supply fulfillment, energy procurement advisory services, and transaction and payment management solutions to commercial and industrial customers. It sells and delivers liquid fuels, natural gas, electricity, renewable energy, and other sustainability solutions. The company operates in three reportable segments consisting of aviation, land, and marine. It earns the majority of its revenue from the Aviation segment.
71GF Score
Get the complete analysis for WKC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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