World Fuel Services Corporation

Texas (12/23/2013) – World Fuel Services Corporation (NYSE: INT) – No Immediate Investment Interest based on a recent price of $42.55 and a fair value estimate of $49-$55.

The company is a global fuel logistics company involved in the marketing and sale of marine, aviation and land fuel products and related services.

The stock appears fairly valued at this time. Items of note are y-o-y debt growth of 31%, y-o-y earnings growth of (-6%), y-o-y free cash flow growth of (-7%). Debt also exceeds net fixed assets by more than 3-to-1, which could making borrowing more difficult and more expensive. Investigate the company’s ability to increase debt.


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