GLOBAL PARTNERS LP GLP

Industrials SIC 5171 - Wholesale-Petroleum Bulk Stations & Terminals NAICS Wholesale Trade › Merchant Wholesalers, Nondurable Goods › Petroleum and Petroleum Products Merchant Wholesalers › Petroleum Bulk Stations and Terminals derived NYSE

and 2. Business and Properties.

We are a master limited partnership formed in March 2005. We own, control or have access to a large terminal network of refined petroleum products and renewable fuels—with connectivity to strategic rail, pipeline and marine assets—spanning from Maine to Florida and into the U.S. Gulf States. We are one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores, primarily in Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey and Pennsylvania (collectively, the "Northeast") and Maryland and Virginia. As of December 31, 2025, we had a portfolio of 1,524 owned, leased and/or supplied gasoline stations, including 290 directly operated convenience stores, primarily in the Northeast, as well as 67 gasoline stations located in Texas that are operated or supplied by our joint venture, Spring Partners Retail LLC ("SPR"). We are also one of the largest distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in the New England states and New York. We engage in the purchasing, selling, gathering, blending, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks (such as ethanol), distillates (such as home heating oil, diesel and kerosene), residual oil, renewable fuels, crude oil and propane and in the transportation of petroleum products and renewable fuels by rail from the mid-continent region of the United States and Canada.

Last close 48.44 2026-10-23
Market cap $1.65B 2026-06-30 share count
52-week range 39.58 - 54.29

Valuation FY2025 figures against the last close

P/S0.2x
P/E—
P/FCF8.5x
EV/EBITDA7.0x
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $8.71B$8.69B$9.75B$11.15B$7.58B$4.54B$6.58B$6.79B$8.92B$8.24B
Cost of revenue $17.50B$16.11B$15.52B$17.78B$12.53B$7.60B$12.42B$12.02B$8.34B$7.69B
Gross profit $1.06B$1.06B$973.6M$1.10B$719.3M$721.1M$662.8M$650.4M$583.1M$546.5M
SG&A $305.7M$292.1M$273.7M$263.1M$212.9M$192.5M$170.9M$171.0M$155.0M$149.7M
Total operating expenses $827.4M$806.7M$729.9M$637.4M$577.0M$528.9M$523.5M$453.2M$463.3M$698.7M
Operating income $234.7M$251.2M$243.8M$460.3M$142.2M$192.3M$139.2M$197.2M$119.8M-$152.3M
Pre-tax income $99.0M$114.9M$160.6M$379.0M$62.1M$101.6M$36.3M$108.0M$33.6M-$238.6M
Income tax $1.1M$4.6M$8.1M$16.8M$1.3M$119.0K$1.1M$5.6M$23.6M$53.0K
Net income $98.0M$110.3M$152.5M$362.2M$60.8M$102.2M$35.9M$103.9M$58.8M-$199.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $12.2M$8.2M$19.6M$4.0M$10.8M$9.7M$12.0M$8.1M$14.9M$10.0M
Receivables $530.1M$472.6M$551.8M$478.8M$411.2M$227.3M$413.2M$334.8M$417.3M$421.4M
Inventory $549.1M$594.1M$397.3M$566.7M$509.5M$384.4M$450.5M$386.4M$350.7M$521.9M
Total current assets $1.23B$1.21B$1.10B$1.17B$1.07B$781.4M$1.00B$874.9M$878.1M$1.08B
Property, plant and equipment $1.66B$1.71B$1.51B$1.22B$1.10B$1.08B$1.10B$1.13B$1.04B$1.10B
Goodwill $421.9M$421.9M$429.2M$427.8M$328.1M$323.6M$324.5M$327.4M$312.4M$294.8M
Other intangibles $13.3M$18.7M$20.7M$26.9M$26.0M$35.9M$46.8M$58.5M$56.5M$65.0M
Total assets $3.85B$3.79B$3.45B$3.16B$2.83B$2.54B$2.81B$2.42B$2.32B$2.56B
Accounts payable $573.2M$510.0M$648.7M$530.9M$353.3M$207.9M$373.4M$309.0M$313.4M$320.3M
Total current liabilities $1.08B$1.00B$982.8M$971.5M$839.6M$497.5M$753.9M$582.8M$668.7M$799.2M
Total liabilities $3.18B$3.07B$2.65B$2.37B$2.30B$2.05B$2.35B$1.93B$1.93B$2.17B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $284.8M$31.6M$512.4M$480.0M$50.2M$312.5M$94.4M$168.9M$348.4M-$119.9M
Stock-based compensation $13.4M$15.5M$10.6M$2.7M$707.0K$1.1M$2.0M$2.7M$2.8M$4.1M
Capital expenditure $91.5M$103.3M$88.8M$106.8M$101.7M$76.3M$82.9M$69.2M$49.9M$71.3M
Investing cash flow -$101.0M-$276.9M-$492.4M-$236.2M-$115.0M-$69.7M-$67.2M-$225.7M-$61.6M$6.4M
Financing cash flow -$179.8M$233.8M-$4.5M-$250.6M$66.0M-$245.1M-$23.3M$50.1M-$282.0M$122.4M
Buybacks $10.0M$14.2M$3.5M$2.9M$3.8M$291.0K————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-021381.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 8.2B Gross profit, FY2016: 546.5M Net income, FY2016: -199.4M Revenue, FY2017: 8.9B Gross profit, FY2017: 583.1M Net income, FY2017: 58.8M Revenue, FY2018: 6.8B Gross profit, FY2018: 650.4M Net income, FY2018: 103.9M Revenue, FY2019: 6.6B Gross profit, FY2019: 662.8M Net income, FY2019: 35.9M Revenue, FY2020: 4.5B Gross profit, FY2020: 721.1M Net income, FY2020: 102.2M Revenue, FY2021: 7.6B Gross profit, FY2021: 719.3M Net income, FY2021: 60.8M Revenue, FY2022: 11.1B Gross profit, FY2022: 1.1B Net income, FY2022: 362.2M Revenue, FY2023: 9.8B Gross profit, FY2023: 973.6M Net income, FY2023: 152.5M Revenue, FY2024: 8.7B Gross profit, FY2024: 1.1B Net income, FY2024: 110.3M Revenue, FY2025: 8.7B Gross profit, FY2025: 1.1B Net income, FY2025: 98M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $8.24B $8.92B $6.79B $6.58B $4.54B $7.58B $11.15B $9.75B $8.69B $8.71B
Gross profit $546.5M $583.1M $650.4M $662.8M $721.1M $719.3M $1.10B $973.6M $1.06B $1.06B
Net income -$199.4M $58.8M $103.9M $35.9M $102.2M $60.8M $362.2M $152.5M $110.3M $98.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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