Intrinsic value of World Fuel Services - INT

Previous Close

$27.87

  Intrinsic Value

$97.50

stock screener

  Rating & Target

str. buy

+250%

Previous close

$27.87

 
Intrinsic value

$97.50

 
Up/down potential

+250%

 
Rating

str. buy

We calculate the intrinsic value of INT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  25.50
  23.45
  21.61
  19.94
  18.45
  17.11
  15.89
  14.81
  13.82
  12.94
  12.15
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.64
  6.47
  6.32
  6.19
  6.07
  5.97
Revenue, $m
  42,288
  52,204
  63,483
  76,144
  90,193
  105,621
  122,409
  140,531
  159,959
  180,661
  202,608
  225,772
  250,133
  275,673
  302,386
  330,268
  359,327
  389,578
  421,044
  453,756
  487,753
  523,081
  559,795
  597,956
  637,632
  678,897
  721,834
  766,531
  813,081
  861,586
Variable operating expenses, $m
  41,958
  51,767
  62,922
  75,445
  89,341
  104,600
  121,205
  139,130
  158,346
  178,822
  200,397
  223,309
  247,404
  272,666
  299,086
  326,664
  355,407
  385,328
  416,450
  448,805
  482,431
  517,374
  553,688
  591,432
  630,675
  671,490
  713,959
  758,167
  804,210
  852,186
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  41,958
  51,767
  62,922
  75,445
  89,341
  104,600
  121,205
  139,130
  158,346
  178,822
  200,397
  223,309
  247,404
  272,666
  299,086
  326,664
  355,407
  385,328
  416,450
  448,805
  482,431
  517,374
  553,688
  591,432
  630,675
  671,490
  713,959
  758,167
  804,210
  852,186
Operating income, $m
  330
  438
  561
  699
  852
  1,021
  1,204
  1,401
  1,613
  1,839
  2,211
  2,463
  2,729
  3,008
  3,299
  3,603
  3,920
  4,250
  4,594
  4,951
  5,322
  5,707
  6,108
  6,524
  6,957
  7,407
  7,875
  8,363
  8,871
  9,400
EBITDA, $m
  527
  651
  791
  949
  1,124
  1,316
  1,525
  1,751
  1,993
  2,251
  2,525
  2,813
  3,117
  3,435
  3,768
  4,116
  4,478
  4,855
  5,247
  5,654
  6,078
  6,518
  6,976
  7,451
  7,946
  8,460
  8,995
  9,552
  10,132
  10,736
Interest expense (income), $m
  41
  53
  110
  176
  251
  335
  429
  532
  643
  764
  893
  1,031
  1,177
  1,331
  1,493
  1,663
  1,841
  2,027
  2,220
  2,422
  2,631
  2,849
  3,075
  3,310
  3,555
  3,809
  4,073
  4,347
  4,633
  4,931
  5,240
Earnings before tax, $m
  277
  328
  385
  448
  517
  592
  672
  758
  849
  946
  1,179
  1,286
  1,398
  1,514
  1,636
  1,762
  1,894
  2,030
  2,172
  2,320
  2,473
  2,632
  2,797
  2,969
  3,148
  3,334
  3,528
  3,730
  3,940
  4,160
Tax expense, $m
  75
  88
  104
  121
  140
  160
  181
  205
  229
  255
  318
  347
  377
  409
  442
  476
  511
  548
  586
  626
  668
  711
  755
  802
  850
  900
  953
  1,007
  1,064
  1,123
Net income, $m
  202
  239
  281
  327
  377
  432
  491
  553
  620
  691
  861
  939
  1,020
  1,105
  1,194
  1,286
  1,382
  1,482
  1,586
  1,693
  1,805
  1,921
  2,042
  2,168
  2,298
  2,434
  2,576
  2,723
  2,876
  3,037

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,013
  8,657
  10,528
  12,628
  14,957
  17,516
  20,300
  23,305
  26,527
  29,960
  33,600
  37,442
  41,481
  45,717
  50,147
  54,771
  59,590
  64,607
  69,825
  75,250
  80,888
  86,746
  92,835
  99,164
  105,743
  112,587
  119,707
  127,119
  134,839
  142,883
Adjusted assets (=assets-cash), $m
  7,013
  8,657
  10,528
  12,628
  14,957
  17,516
  20,300
  23,305
  26,527
  29,960
  33,600
  37,442
  41,481
  45,717
  50,147
  54,771
  59,590
  64,607
  69,825
  75,250
  80,888
  86,746
  92,835
  99,164
  105,743
  112,587
  119,707
  127,119
  134,839
  142,883
Revenue / Adjusted assets
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
  6.030
Average production assets, $m
  1,226
  1,514
  1,841
  2,208
  2,616
  3,063
  3,550
  4,075
  4,639
  5,239
  5,876
  6,547
  7,254
  7,995
  8,769
  9,578
  10,420
  11,298
  12,210
  13,159
  14,145
  15,169
  16,234
  17,341
  18,491
  19,688
  20,933
  22,229
  23,579
  24,986
Working capital, $m
  1,099
  1,357
  1,651
  1,980
  2,345
  2,746
  3,183
  3,654
  4,159
  4,697
  5,268
  5,870
  6,503
  7,168
  7,862
  8,587
  9,343
  10,129
  10,947
  11,798
  12,682
  13,600
  14,555
  15,547
  16,578
  17,651
  18,768
  19,930
  21,140
  22,401
Total debt, $m
  1,897
  3,035
  4,330
  5,783
  7,395
  9,165
  11,092
  13,172
  15,401
  17,777
  20,296
  22,954
  25,749
  28,680
  31,746
  34,946
  38,281
  41,752
  45,363
  49,117
  53,019
  57,073
  61,286
  65,665
  70,219
  74,954
  79,882
  85,011
  90,353
  95,919
Total liabilities, $m
  4,853
  5,991
  7,285
  8,738
  10,351
  12,121
  14,048
  16,127
  18,357
  20,733
  23,251
  25,910
  28,705
  31,636
  34,702
  37,901
  41,236
  44,708
  48,319
  52,073
  55,974
  60,029
  64,242
  68,621
  73,174
  77,910
  82,837
  87,967
  93,309
  98,875
Total equity, $m
  2,160
  2,666
  3,243
  3,889
  4,607
  5,395
  6,252
  7,178
  8,170
  9,228
  10,349
  11,532
  12,776
  14,081
  15,445
  16,869
  18,354
  19,899
  21,506
  23,177
  24,913
  26,718
  28,593
  30,542
  32,569
  34,677
  36,870
  39,153
  41,531
  44,008
Total liabilities and equity, $m
  7,013
  8,657
  10,528
  12,627
  14,958
  17,516
  20,300
  23,305
  26,527
  29,961
  33,600
  37,442
  41,481
  45,717
  50,147
  54,770
  59,590
  64,607
  69,825
  75,250
  80,887
  86,747
  92,835
  99,163
  105,743
  112,587
  119,707
  127,120
  134,840
  142,883
Debt-to-equity ratio
  0.880
  1.140
  1.340
  1.490
  1.610
  1.700
  1.770
  1.830
  1.880
  1.930
  1.960
  1.990
  2.020
  2.040
  2.060
  2.070
  2.090
  2.100
  2.110
  2.120
  2.130
  2.140
  2.140
  2.150
  2.160
  2.160
  2.170
  2.170
  2.180
  2.180
Adjusted equity ratio
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308
  0.308

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  202
  239
  281
  327
  377
  432
  491
  553
  620
  691
  861
  939
  1,020
  1,105
  1,194
  1,286
  1,382
  1,482
  1,586
  1,693
  1,805
  1,921
  2,042
  2,168
  2,298
  2,434
  2,576
  2,723
  2,876
  3,037
Depreciation, amort., depletion, $m
  197
  213
  230
  250
  272
  296
  322
  350
  380
  412
  314
  350
  388
  428
  469
  512
  557
  604
  653
  704
  756
  811
  868
  927
  989
  1,053
  1,119
  1,189
  1,261
  1,336
Funds from operations, $m
  399
  452
  511
  577
  649
  727
  812
  903
  1,000
  1,103
  1,175
  1,289
  1,408
  1,533
  1,663
  1,798
  1,940
  2,086
  2,239
  2,397
  2,562
  2,732
  2,910
  3,095
  3,287
  3,487
  3,695
  3,912
  4,137
  4,373
Change in working capital, $m
  223
  258
  293
  329
  365
  401
  436
  471
  505
  538
  571
  602
  633
  664
  695
  725
  756
  787
  818
  851
  884
  919
  955
  992
  1,032
  1,073
  1,116
  1,162
  1,210
  1,261
Cash from operations, $m
  176
  194
  218
  248
  284
  326
  376
  432
  495
  564
  605
  687
  775
  869
  968
  1,074
  1,184
  1,300
  1,420
  1,546
  1,678
  1,814
  1,956
  2,103
  2,255
  2,414
  2,579
  2,749
  2,927
  3,112
Maintenance CAPEX, $m
  -52
  -66
  -81
  -98
  -118
  -140
  -164
  -190
  -218
  -248
  -280
  -314
  -350
  -388
  -428
  -469
  -512
  -557
  -604
  -653
  -704
  -756
  -811
  -868
  -927
  -989
  -1,053
  -1,119
  -1,189
  -1,261
New CAPEX, $m
  -260
  -288
  -327
  -367
  -407
  -447
  -487
  -526
  -563
  -600
  -636
  -672
  -706
  -741
  -775
  -809
  -843
  -877
  -913
  -949
  -986
  -1,025
  -1,065
  -1,107
  -1,151
  -1,197
  -1,245
  -1,296
  -1,350
  -1,407
Cash from investing activities, $m
  -312
  -354
  -408
  -465
  -525
  -587
  -651
  -716
  -781
  -848
  -916
  -986
  -1,056
  -1,129
  -1,203
  -1,278
  -1,355
  -1,434
  -1,517
  -1,602
  -1,690
  -1,781
  -1,876
  -1,975
  -2,078
  -2,186
  -2,298
  -2,415
  -2,539
  -2,668
Free cash flow, $m
  -136
  -159
  -190
  -218
  -242
  -261
  -275
  -283
  -287
  -284
  -312
  -299
  -282
  -260
  -234
  -204
  -171
  -135
  -96
  -55
  -12
  33
  80
  128
  178
  228
  281
  334
  388
  444
Issuance/(repayment) of debt, $m
  987
  1,138
  1,294
  1,453
  1,612
  1,770
  1,927
  2,080
  2,230
  2,376
  2,519
  2,658
  2,796
  2,931
  3,065
  3,200
  3,335
  3,472
  3,611
  3,754
  3,901
  4,054
  4,213
  4,379
  4,553
  4,736
  4,927
  5,129
  5,342
  5,566
Issuance/(repurchase) of shares, $m
  236
  267
  295
  320
  340
  356
  367
  372
  372
  367
  260
  244
  224
  199
  170
  138
  102
  63
  22
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,223
  1,405
  1,589
  1,773
  1,952
  2,126
  2,294
  2,452
  2,602
  2,743
  2,779
  2,902
  3,020
  3,130
  3,235
  3,338
  3,437
  3,535
  3,633
  3,754
  3,901
  4,054
  4,213
  4,379
  4,553
  4,736
  4,927
  5,129
  5,342
  5,566
Total cash flow (excl. dividends), $m
  1,087
  1,246
  1,399
  1,555
  1,711
  1,866
  2,019
  2,169
  2,315
  2,458
  2,467
  2,603
  2,738
  2,870
  3,002
  3,134
  3,266
  3,400
  3,536
  3,699
  3,889
  4,087
  4,293
  4,507
  4,731
  4,964
  5,208
  5,463
  5,730
  6,010
Retained Cash Flow (-), $m
  -438
  -507
  -576
  -647
  -718
  -788
  -857
  -926
  -992
  -1,057
  -1,121
  -1,183
  -1,244
  -1,305
  -1,364
  -1,424
  -1,484
  -1,545
  -1,607
  -1,671
  -1,736
  -1,805
  -1,875
  -1,949
  -2,027
  -2,108
  -2,193
  -2,283
  -2,378
  -2,478
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  649
  740
  823
  908
  993
  1,078
  1,161
  1,243
  1,323
  1,401
  1,346
  1,420
  1,494
  1,566
  1,638
  1,709
  1,782
  1,855
  1,929
  2,028
  2,153
  2,283
  2,418
  2,558
  2,704
  2,856
  3,015
  3,180
  3,353
  3,533
Discount rate, %
  4.70
  4.94
  5.18
  5.44
  5.71
  6.00
  6.30
  6.61
  6.94
  7.29
  7.66
  8.04
  8.44
  8.86
  9.31
  9.77
  10.26
  10.77
  11.31
  11.88
  12.47
  13.09
  13.75
  14.44
  15.16
  15.92
  16.71
  17.55
  18.42
  19.35
PV of cash for distribution, $m
  620
  672
  707
  735
  752
  760
  757
  745
  723
  693
  598
  562
  521
  477
  431
  385
  339
  294
  252
  215
  182
  152
  125
  101
  79
  61
  46
  34
  25
  18
Current shareholders' claim on cash, %
  88.9
  79.9
  72.6
  66.6
  61.7
  57.7
  54.3
  51.5
  49.2
  47.3
  46.1
  45.1
  44.3
  43.7
  43.2
  42.9
  42.7
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5
  42.5

World Fuel Services Corporation is engaged in providing aviation, marine and land energy, logistics and technology solutions to customers and suppliers around the world. The Company operates through three segments: Aviation, Marine and Land. In its Aviation segment, the Company offers fuel and related products and services. In its land segment, it offers fuel, crude oil, lubricants, power solutions through its global energy management service offerings, natural gas and related products and services to customers. Under marine segment, it offers fuel, lubricants and related products and services to customers, including international container and tanker fleets, commercial cruise lines, yachts and time charter operators, offshore rig owners and operators, the United States and foreign Governments, as well as other fuel suppliers. It offers solutions, such as oil and energy procurement, distribution and storage, financial solutions and consulting services.

FINANCIAL RATIOS  of  World Fuel Services (INT)

Valuation Ratios
P/E Ratio 15.5
Price to Sales 0.1
Price to Book 1
Price to Tangible Book
Price to Cash Flow 9.5
Price to Free Cash Flow 11.5
Growth Rates
Sales Growth Rate -11.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -29.4%
Cap. Spend. - 3 Yr. Gr. Rate -15.4%
Financial Strength
Quick Ratio 47
Current Ratio 0.1
LT Debt to Equity 60.8%
Total Debt to Equity 61.6%
Interest Coverage 4
Management Effectiveness
Return On Assets 3.3%
Ret/ On Assets - 3 Yr. Avg. 4.2%
Return On Total Capital 4.4%
Ret/ On T. Cap. - 3 Yr. Avg. 6.9%
Return On Equity 6.6%
Return On Equity - 3 Yr. Avg. 9.5%
Asset Turnover 5.4
Profitability Ratios
Gross Margin 3.3%
Gross Margin - 3 Yr. Avg. 2.7%
EBITDA Margin 1%
EBITDA Margin - 3 Yr. Avg. 1%
Operating Margin 0.7%
Oper. Margin - 3 Yr. Avg. 0.7%
Pre-Tax Margin 0.5%
Pre-Tax Margin - 3 Yr. Avg. 0.6%
Net Profit Margin 0.5%
Net Profit Margin - 3 Yr. Avg. 0.5%
Effective Tax Rate 11.3%
Eff/ Tax Rate - 3 Yr. Avg. 17.5%
Payout Ratio 13.5%

INT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the INT stock intrinsic value calculation we used $33695.5 million for the last fiscal year's total revenue generated by World Fuel Services. The default revenue input number comes from 0001 income statement of World Fuel Services. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our INT stock valuation model: a) initial revenue growth rate of 25.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.7%, whose default value for INT is calculated based on our internal credit rating of World Fuel Services, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of World Fuel Services.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of INT stock the variable cost ratio is equal to 99.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for INT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.8% for World Fuel Services.

Corporate tax rate of 27% is the nominal tax rate for World Fuel Services. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the INT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for INT are equal to 2.9%.

Life of production assets of 18.7 years is the average useful life of capital assets used in World Fuel Services operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for INT is equal to 2.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1721.9 million for World Fuel Services - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 67.944 million for World Fuel Services is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of World Fuel Services at the current share price and the inputted number of shares is $1.9 billion.

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COMPANY NEWS

▶ World Fuel Services: 3Q Earnings Snapshot   [07:01PM  Associated Press]
▶ 7 Low Price-to-Sales Stocks With Favorable Growth Dynamics   [Aug-30-18 10:07AM  InvestorPlace]
▶ Top Sectors of July & Their Top Stocks   [Jul-30-18 09:13AM  Zacks]
▶ Why Internity SA (WSE:INT) Is An Attractive Investment   [Jun-27-18 02:20AM  Simply Wall St.]
▶ Why World Fuel Services Corp Stock Is Plunging Today   [Apr-27-18 03:27PM  Motley Fool]
▶ World Fuel Services: 1Q Earnings Snapshot   [Apr-26-18 07:26PM  Associated Press]
▶ Should You Buy Internity SA. (WSE:INT) At This PE Ratio?   [Apr-12-18 04:27AM  Simply Wall St.]
▶ World Fuel Services reports 4Q loss   [Feb-22-18 05:55PM  Associated Press]
▶ What Wall Street Analysts Recommend for DK, INT, PBR, and BP   [Jan-22-18 07:34AM  Market Realist]
▶ Which Refining and Marketing Energy Stocks Fell This Week?   [Jan-19-18 09:30AM  Market Realist]
▶ New Strong Sell Stocks for January 8th   [Jan-08-18 08:30AM  Zacks]
▶ PARR, INT, GPRE: Refining and Marketing Losers This Week   [Nov-10-17 09:03AM  Market Realist]
▶ World Fuel Services reports 3Q loss   [Oct-26-17 07:13PM  Associated Press]
▶ Former IBM CIO Jeff Smith Named COO at World Fuel Services   [Oct-17-17 02:08PM  The Wall Street Journal]
▶ Stocks That Fell to 3-Year Lows in the Week of Sept. 29   [Sep-30-17 09:35PM  GuruFocus.com]
▶ New Strong Sell Stocks for August 24th   [Aug-24-17 08:57AM  Zacks]
▶ World Fuel Services posts 2Q profit   [Jul-27-17 11:37PM  Associated Press]

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