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Global Partners (GLP) Financials

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$50.28 -0.29 (-0.57%)
As of 08/21/2026 03:58 PM Eastern
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Annual Income Statements for Global Partners

Annual Income Statements for Global Partners

This table shows Global Partners' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 44 -199 59 104 36 102 61 362 153 110 98
Consolidated Net Income / (Loss)		 43 -239 57 102 35 102 61 362 153 110 98
Net Income / (Loss) Continuing Operations		 43 -239 57 102 35 102 61 362 153 110 98
Total Pre-Tax Income 		41 -239 34 108 36 102 62 379 161 115 99
Total Operating Income		 115 -152 120 197 139 192 142 460 244 251 235
Total Gross Profit		 598 546 583 650 663 721 719 1,098 974 1,058 1,062
Total Revenue		 10,315 8,240 8,921 12,673 13,082 8,322 13,248 18,878 16,492 17,164 18,561
Operating Revenue		 10,315 8,240 8,921 12,673 13,082 8,322 13,248 18,878 16,492 17,164 18,561
Total Cost of Revenue		 9,717 7,693 8,338 12,022 12,419 7,600 12,529 17,780 15,519 16,106 17,499
Operating Cost of Revenue		 9,717 7,693 8,338 12,022 12,419 7,600 12,529 17,780 15,519 16,106 17,499
Total Operating Expenses		 483 699 463 453 524 529 577 637 730 807 827
Selling, General & Admin Expense		 467 438 439 492 513 516 566 708 724 807 825
Amortization Expense		 13 9.39 9.20 11 11 11 11 8.85 8.14 8.28 5.33
Impairment Charge		 - 150 0.81 0.41 2.02 1.93 0.38 0.00 0.00 0.49 0.23
Other Special Charges / (Income)		 2.10 101 -1.62 2.37 -3.22 0.28 -0.51 -80 -2.63 -9.49 -3.33
Total Other Income / (Expense), net		 -73 -86 -86 -89 -103 -91 -80 -81 -83 -136 -136
Interest Expense		 - - - 0.00 13 7.16 - - 0.00 0.00 2.97
Interest & Investment Income		 -73 -86 -86 -89 -90 -84 -80 -81 -83 -136 -133
Income Tax Expense		 -1.87 0.05 -24 5.62 1.09 -0.12 1.34 17 8.14 4.61 1.06
Basic Earnings per Share		 $1.12 - $1.74 $2.97 $0.82 $2.77 $1.33 $10.06 $3.77 $2.45 $2.13
Weighted Average Basic Shares Outstanding		 32.18M 33.53M 33.59M 33.70M 33.81M 33.91M 33.94M 33.94M 33.97M 33.84M 33.87M
Diluted Earnings per Share		 $1.11 - $1.74 $2.95 $0.81 $2.74 $1.31 $10.02 $3.76 $2.41 $2.11
Weighted Average Diluted Shares Outstanding		 32.32M 33.53M 33.63M 33.97M 34.34M 34.31M 34.28M 34.04M 34.04M 34.34M 34.22M
Weighted Average Basic & Diluted Shares Outstanding		 32.18M 33.53M 33.63M 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Income Statements for Global Partners

This table shows Global Partners' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 55 -5.60 49 46 24 19 25 29 25 70 71
Consolidated Net Income / (Loss)		 55 -5.60 46 46 24 19 25 29 25 70 71
Net Income / (Loss) Continuing Operations		 55 -5.60 46 46 24 19 25 29 25 70 71
Total Pre-Tax Income 		61 -5.24 48 48 24 20 25 29 25 71 76
Total Operating Income		 82 26 84 83 58 56 60 61 57 106 107
Total Gross Profit		 280 215 288 286 269 255 272 271 263 332 329
Total Revenue		 4,409 4,145 4,410 4,422 4,186 4,592 4,627 4,694 4,648 5,322 6,792
Operating Revenue		 4,409 4,145 4,410 4,422 4,186 4,592 4,627 4,694 4,648 5,322 6,792
Total Cost of Revenue		 4,129 3,930 4,122 4,136 3,917 4,337 4,355 4,423 4,385 4,990 6,463
Operating Cost of Revenue		 4,129 3,930 4,122 4,136 3,917 4,337 4,355 4,423 4,385 4,990 6,463
Total Operating Expenses		 199 189 204 203 211 199 212 210 206 226 222
Selling, General & Admin Expense		 197 190 202 208 208 200 210 209 205 229 220
Amortization Expense		 2.02 1.87 1.99 2.29 2.13 1.41 1.38 1.28 1.27 1.27 1.27
Impairment Charge		 - - 0.00 0.49 - - 0.21 0.02 - - 0.00
Other Special Charges / (Income)		 -0.49 -2.50 -0.30 -7.81 1.12 -2.49 0.27 -0.14 -0.97 -3.43 0.44
Total Other Income / (Expense), net		 -21 -31 -36 -35 -34 -36 -35 -33 -32 -35 -31
Interest Expense		 - - 0.00 0.00 - - 2.80 0.18 - - 0.00
Interest & Investment Income		 -21 -31 -36 -35 -34 -36 -32 -33 -32 -35 -31
Income Tax Expense		 5.79 0.36 1.84 2.26 0.15 1.23 -0.11 -0.45 0.39 0.84 5.28
Basic Earnings per Share		 $1.42 ($0.37) $1.11 $1.18 $0.53 $0.37 $0.55 $0.66 $0.55 $1.86 $1.87
Weighted Average Basic Shares Outstanding		 33.97M 33.96M 33.91M 33.78M 33.84M 33.89M 33.92M 33.87M 33.87M 33.89M 33.93M
Diluted Earnings per Share		 $1.41 ($0.37) $1.10 $1.17 $0.51 $0.36 $0.55 $0.66 $0.54 $1.85 $1.86
Weighted Average Diluted Shares Outstanding		 34.04M 33.96M 34.28M 34.19M 34.34M 34.30M 34.10M 34.16M 34.22M 34.05M 34.12M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Annual Cash Flow Statements for Global Partners

This table details how cash moves in and out of Global Partners' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -4.12 8.91 4.83 -6.74 3.92 -2.33 1.14 -6.81 16 -11 4.04
Net Cash From Operating Activities		 63 -120 348 169 94 313 50 480 512 32 285
Net Cash From Continuing Operating Activities		 63 -120 366 169 94 313 50 480 512 32 285
Net Income / (Loss) Continuing Operations		 43 -239 57 102 35 102 61 362 153 110 98
Consolidated Net Income / (Loss)		 43 -239 57 102 35 102 61 362 153 110 98
Depreciation Expense		 116 112 106 107 108 100 102 105 110 140 143
Amortization Expense		 7.78 8.66 -6.45 7.20 5.94 5.24 5.03 5.43 5.65 7.45 7.45
Non-Cash Adjustments To Reconcile Net Income		 7.48 177 -18 -43 15 12 0.90 -77 8.19 9.63 10
Changes in Operating Assets and Liabilities, net		 -112 -179 210 -4.58 -70 94 -119 85 236 -235 26
Net Cash From Investing Activities		 -650 6.45 -62 -226 -67 -70 -115 -236 -492 -277 -101
Net Cash From Continuing Investing Activities		 -650 6.45 -62 -226 -67 -70 -115 -236 -492 -277 -101
Purchase of Property, Plant & Equipment		 -93 -71 -50 -69 -83 -76 -102 -107 -89 -103 -91
Acquisitions		 -561 - -38 -172 0.00 0.00 -18 -256 -410 -234 -30
Sale of Property, Plant & Equipment		 4.33 78 33 18 17 8.21 6.39 129 13 49 6.58
Sale and/or Maturity of Investments		 - - - - - - 0.00 0.00 2.08 19 13
Other Investing Activities, net		 - - -6.09 -3.34 -1.41 -1.61 -1.69 -1.66 -8.50 -7.05 0.94
Net Cash From Financing Activities		 583 122 -282 50 -23 -245 66 -251 -4.46 234 -180
Net Cash From Continuing Financing Activities		 866 122 -282 50 -23 -245 66 -251 -4.46 234 -180
Repayment of Debt		 -1.40 -52 -219 0.00 -339 -517 92 -146 144 -0.30 -467
Repurchase of Preferred Equity		 - - - - - - - 0.00 0.00 -69 0.00
Repurchase of Common Equity		 -3.89 - - 0.00 0.00 -0.29 -3.77 -2.90 -3.52 -14 -10.00
Payment of Dividends		 -103 -64 -63 -66 -77 -73 -92 -100 -145 -122 -131
Issuance of Debt		 862 177 - 51 393 345 - 0.00 0.00 441 441
Other Financing Activities, net		 - 62 -0.52 -0.84 -0.66 -0.28 -2.21 -1.56 -0.47 -1.82 -13
Cash Interest Paid		 60 64 63 67 67 59 55 61 65 95 129
Cash Income Taxes Paid		 2.77 17 7.40 0.65 -5.21 -1.46 -15 8.05 2.90 9.30 5.71

Quarterly Cash Flow Statements for Global Partners

This table details how cash moves in and out of Global Partners' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 8.34 53 -59 6.45 -12 -0.73 8.62 1.84 -5.69 6.13 5.54
Net Cash From Operating Activities		 169 -183 24 123 67 -52 216 19 101 -105 309
Net Cash From Continuing Operating Activities		 169 -183 24 123 67 -52 216 19 101 -105 309
Net Income / (Loss) Continuing Operations		 55 -5.60 46 46 24 19 25 29 25 70 71
Consolidated Net Income / (Loss)		 55 -5.60 46 46 24 19 25 29 25 70 71
Depreciation Expense		 29 32 35 36 36 36 36 35 35 36 37
Amortization Expense		 1.52 1.83 1.87 1.87 1.87 1.87 1.79 1.94 1.86 1.87 2.08
Non-Cash Adjustments To Reconcile Net Income		 5.08 2.95 4.26 -2.36 4.78 1.39 4.55 3.54 1.01 4.06 4.93
Changes in Operating Assets and Liabilities, net		 78 -214 -63 42 0.56 -109 149 -51 38 -216 195
Net Cash From Investing Activities		 -371 -1.51 -231 1.81 -47 -28 -16 -20 -36 -28 -31
Net Cash From Continuing Investing Activities		 -371 -1.51 -231 1.81 -47 -28 -16 -20 -36 -28 -31
Purchase of Property, Plant & Equipment		 -34 -17 -16 -24 -47 -18 -15 -20 -39 -32 -35
Acquisitions		 -339 -9.66 -215 -3.82 -5.33 -17 -3.59 -4.65 -4.60 -4.52 -2.54
Sale of Property, Plant & Equipment		 0.79 14 4.41 28 2.56 3.60 0.37 0.52 2.08 5.17 0.59
Sale and/or Maturity of Investments		 2.08 14 0.40 2.17 2.17 2.66 2.02 3.07 4.76 3.09 2.54
Other Investing Activities, net		 -0.34 -3.47 -4.47 - 0.89 -0.19 0.33 0.39 0.41 -0.01 3.24
Net Cash From Financing Activities		 210 237 148 -118 -33 79 -192 3.18 -71 139 -273
Net Cash From Continuing Financing Activities		 210 237 148 -118 -33 79 -192 3.18 -71 139 -273
Repurchase of Common Equity		 -2.85 0.00 - -3.26 -3.01 -0.53 -3.03 -3.81 -2.63 0.00 -6.04
Payment of Dividends		 -30 -31 -31 -30 -30 -35 -32 -32 -32 -36 -33
Issuance of Debt		 - 441 - - - 125 441 -0.17 -0.02 182 -182
Other Financing Activities, net		 - -1.82 - - - -11 -2.63 - - -7.52 -0.08
Cash Interest Paid		 2.43 30 5.77 52 7.04 54 16 37 22 36 22

Annual Balance Sheets for Global Partners

This table presents Global Partners' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,664 2,564 2,320 2,424 2,808 2,541 2,831 3,161 3,446 3,788 3,851
Total Current Assets		 867 1,075 878 875 1,005 781 1,065 1,169 1,098 1,207 1,227
Cash & Equivalents		 1.12 10 15 8.12 12 9.71 11 4.04 20 8.21 12
Accounts Receivable		 314 425 421 340 421 230 412 481 560 479 533
Inventories, net		 389 522 351 386 450 384 510 567 397 594 549
Prepaid Expenses		 66 70 78 99 82 119 87 74 91 92 98
Other Current Assets		 97 49 14 41 39 38 45 43 30 34 35
Plant, Property, & Equipment, net		 1,243 1,100 1,037 1,133 1,105 1,082 1,099 1,218 1,514 1,707 1,657
Total Noncurrent Assets		 554 389 405 417 699 677 667 773 835 874 966
Long-Term Investments		 - - - - - - - 0.00 94 93 114
Goodwill		 435 295 312 327 324 324 328 428 429 422 422
Intangible Assets		 76 65 57 59 47 36 26 27 21 19 13
Other Noncurrent Operating Assets		 43 29 36 31 328 317 313 319 290 341 417
Total Liabilities & Shareholders' Equity		 2,664 2,564 2,320 2,424 2,808 2,541 2,831 3,161 3,446 3,788 3,851
Total Liabilities		 1,970 2,166 1,926 1,925 2,349 2,045 2,303 2,372 2,645 3,072 3,175
Total Current Liabilities		 595 799 669 583 754 498 840 971 983 1,000 1,076
Short-Term Debt		 - 275 127 103 149 34 205 153 17 130 126
Accounts Payable		 304 320 313 309 373 208 353 531 649 510 573
Accrued Expenses		 66 76 105 123 108 131 143 162 185 231 215
Current Deferred & Payable Income Tax Liabilities		 95 101 110 43 43 37 44 43 67 67 84
Other Current Liabilities		 130 27 14 4.49 81 87 94 83 65 63 78
Total Noncurrent Liabilities		 1,375 1,367 1,257 1,342 1,595 1,547 1,464 1,401 1,663 2,071 2,099
Long-Term Debt		 657 659 662 664 691 738 739 741 743 1,187 1,233
Asset Retirement Reserve & Litigation Obligation		 68 58 53 57 54 49 48 64 71 91 89
Noncurrent Deferred & Payable Income Tax Liabilities		 85 66 40 43 43 56 57 66 69 64 65
Other Noncurrent Operating Liabilities		 476 432 352 428 808 704 620 530 780 730 713
Total Equity & Noncontrolling Interests		 694 398 394 499 459 495 528 788 801 717 676
Total Preferred & Common Equity		 648 393 391 497 458 495 528 788 801 717 676
Total Common Equity		 648 393 391 497 458 495 528 788 801 717 676
Common Stock		 656 398 -2.98 503 463 494 530 789 800 717 676

Quarterly Balance Sheets for Global Partners

This table presents Global Partners' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 2,925 2,937 3,051 3,466 3,829 3,665 3,819 3,784 3,700 4,312 4,022
Total Current Assets		 951 901 1,042 1,155 1,300 1,125 1,243 1,215 1,134 1,708 1,426
Cash & Equivalents		 7.07 11 11 73 14 21 7.48 16 18 18 24
Accounts Receivable		 442 442 525 568 612 478 583 571 527 778 710
Inventories, net		 385 344 391 404 567 499 517 496 479 736 578
Prepaid Expenses		 79 72 81 88 79 83 101 90 82 92 85
Other Current Assets		 38 32 34 23 27 44 34 42 29 83 29
Plant, Property, & Equipment, net		 1,204 1,200 1,188 1,490 1,687 1,661 1,689 1,668 1,654 1,653 1,652
Total Noncurrent Assets		 770 836 820 820 842 879 886 901 912 951 944
Long-Term Investments		 - 71 71 88 88 89 107 111 112 116 117
Goodwill		 428 428 429 427 426 422 422 422 422 422 422
Intangible Assets		 25 23 21 19 22 19 17 16 15 12 11
Other Noncurrent Operating Assets		 317 315 299 287 307 348 340 352 363 401 393
Total Liabilities & Shareholders' Equity		 2,925 2,937 3,051 3,466 3,829 3,665 3,819 3,784 3,700 4,312 4,022
Total Liabilities		 2,165 2,161 2,276 2,702 3,123 2,942 3,123 3,098 3,018 3,601 3,273
Total Current Liabilities		 773 754 917 986 1,183 983 1,067 1,027 934 1,523 1,196
Short-Term Debt		 247 89 66 226 281 219 255 99 141 308 75
Accounts Payable		 285 399 558 475 558 454 520 590 486 750 714
Accrued Expenses		 120 145 136 154 205 188 153 187 175 197 212
Current Deferred & Payable Income Tax Liabilities		 48 56 61 68 78 70 75 83 63 75 79
Other Current Liabilities		 72 65 96 63 62 52 64 68 69 193 116
Total Noncurrent Liabilities		 1,392 1,407 1,360 1,716 1,940 1,959 2,056 2,071 2,084 2,077 2,077
Long-Term Debt		 741 742 742 1,185 1,185 1,186 1,187 1,271 1,232 1,233 1,234
Asset Retirement Reserve & Litigation Obligation		 63 62 62 69 75 73 90 89 89 87 86
Noncurrent Deferred & Payable Income Tax Liabilities		 66 66 66 68 66 64 61 60 65 65 68
Other Noncurrent Operating Liabilities		 522 537 490 394 614 636 718 650 698 692 689
Total Equity & Noncontrolling Interests		 759 776 774 764 706 723 695 686 682 712 749
Total Preferred & Common Equity		 759 776 774 764 706 723 695 686 682 712 749
Total Common Equity		 759 776 774 764 706 723 695 686 682 712 749
Common Stock		 759 775 774 764 706 723 695 686 682 712 749

Annual Metrics And Ratios for Global Partners

This table displays calculated financial ratios and metrics derived from Global Partners' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -40.27% -20.12% 8.26% 42.06% 3.23% -36.39% 59.20% 42.49% -12.64% 4.07% 8.14%
EBITDA Growth		 -7.71% -113.28% 792.02% 42.11% -18.59% 17.49% -16.18% 128.67% -36.98% 10.81% -3.43%
EBIT Growth		 -30.77% -232.71% 178.68% 64.61% -29.40% 38.11% -26.03% 223.65% -47.04% 3.06% -6.59%
NOPAT Growth		 -27.04% -188.88% 291.32% -8.33% -27.77% 42.58% -27.71% 216.08% -47.39% 4.20% -3.73%
Net Income Growth		 -63.02% -651.55% 123.94% 79.29% -65.65% 189.05% -40.21% 495.77% -57.90% -27.66% -11.19%
EPS Growth		 -71.90% 0.00% 0.00% 69.54% -72.54% 238.27% -52.19% 664.89% -62.48% -35.90% -12.45%
Operating Cash Flow Growth		 -43.66% -291.80% 390.64% -51.54% -44.09% 231.06% -83.93% 855.82% 6.76% -93.83% 801.28%
Free Cash Flow Firm Growth		 -47.95% 56.85% 354.41% -73.21% 166.95% -13.95% -128.91% 446.94% 109.07% -152.71% 204.54%
Invested Capital Growth		 45.12% 2.42% -10.57% 6.87% -8.67% -2.24% 16.15% 14.91% -13.86% 33.59% -1.22%
Revenue Q/Q Growth		 -11.68% 1.77% 1.00% 23.15% -9.88% -12.17% 16.71% 1.81% -0.11% -1.28% 2.55%
EBITDA Q/Q Growth		 -6.87% -189.68% 27.50% 36.17% -19.87% 3.53% 3.38% 7.48% 1.60% -3.90% -0.43%
EBIT Q/Q Growth		 -17.51% -69.97% 104.01% 51.80% -30.65% 6.66% 5.12% 9.37% 1.07% -8.57% -0.33%
NOPAT Q/Q Growth		 -12.30% -69.97% 396.11% -7.72% -26.80% 6.36% 4.82% 9.51% -1.43% -5.89% -0.56%
Net Income Q/Q Growth		 -42.05% -35.68% 313.87% 49.73% -60.13% 5.52% 32.39% 11.78% -1.42% -22.17% 1.24%
EPS Q/Q Growth		 -48.37% 0.00% 0.00% 298.65% -80.20% 4.98% 39.36% 12.46% -3.09% -27.19% 1.44%
Operating Cash Flow Q/Q Growth		 587.41% -168.74% 52.56% 381.89% -70.89% 32.90% -68.87% -9.10% 108.21% -76.38% 13.47%
Free Cash Flow Firm Q/Q Growth		 30.95% -204.43% 199.62% 153.95% -47.63% -9.25% -195.76% -22.81% 121.84% 6.75% -21.92%
Invested Capital Q/Q Growth		 -2.19% 15.75% 10.36% -10.59% 1.39% 4.29% 7.38% 13.85% -3.60% -4.30% -0.85%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 5.79% 6.63% 6.54% 5.13% 5.07% 8.67% 5.43% 5.81% 5.90% 6.16% 5.72%
EBITDA Margin		 2.31% -0.38% 2.45% 2.46% 1.94% 3.58% 1.88% 3.02% 2.18% 2.32% 2.07%
Operating Margin		 1.11% -1.85% 1.34% 1.56% 1.06% 2.31% 1.07% 2.44% 1.48% 1.46% 1.26%
EBIT Margin		 1.11% -1.85% 1.34% 1.56% 1.06% 2.31% 1.07% 2.44% 1.48% 1.46% 1.26%
Profit (Net Income) Margin		 0.42% -2.90% 0.64% 0.81% 0.27% 1.22% 0.46% 1.92% 0.92% 0.64% 0.53%
Tax Burden Percent		 104.53% 100.02% 170.22% 94.79% 96.98% 100.12% 97.85% 95.56% 94.94% 95.99% 98.93%
Interest Burden Percent		 36.08% 156.70% 28.01% 54.79% 26.06% 52.82% 43.69% 82.35% 65.90% 45.75% 42.21%
Effective Tax Rate		 -4.53% 0.00% -70.22% 5.21% 3.02% -0.12% 2.15% 4.44% 5.06% 4.01% 1.07%
Return on Invested Capital (ROIC)		 9.87% -7.32% 14.60% 13.71% 10.02% 15.13% 10.24% 28.02% 14.81% 14.28% 12.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 -4.06% -21.82% -0.07% 4.49% -1.48% 3.71% 0.99% 19.50% 4.53% 0.22% 1.13%
Return on Net Nonoperating Assets (RNNOA)		 -3.36% -36.39% -0.18% 9.21% -2.68% 6.17% 1.65% 27.02% 4.38% 0.27% 1.99%
Return on Equity (ROE)		 6.51% -43.71% 14.42% 22.92% 7.34% 21.30% 11.88% 55.04% 19.19% 14.54% 14.08%
Cash Return on Invested Capital (CROIC)		 -26.95% -9.70% 25.76% 7.07% 19.08% 17.40% -4.71% 14.14% 29.70% -14.48% 13.32%
Operating Return on Assets (OROA)		 4.89% -5.82% 4.91% 8.31% 5.32% 7.19% 5.30% 15.36% 7.38% 6.95% 6.14%
Return on Assets (ROA)		 1.84% -9.13% 2.34% 4.32% 1.34% 3.80% 2.26% 12.09% 4.62% 3.05% 2.57%
Return on Common Equity (ROCE)		 6.04% -41.65% 14.26% 22.79% 7.32% 21.27% 11.88% 55.04% 19.19% 14.54% 14.08%
Return on Equity Simple (ROE_SIMPLE)		 6.68% -60.77% 14.61% 20.59% 7.68% 20.52% 11.52% 45.94% 19.05% 15.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 120 -107 204 187 135 192 139 440 231 241 232
NOPAT Margin		 1.16% -1.29% 2.29% 1.47% 1.03% 2.31% 1.05% 2.33% 1.40% 1.41% 1.25%
Net Nonoperating Expense Percent (NNEP)		 13.93% 14.50% 14.68% 9.22% 11.49% 11.42% 9.24% 8.52% 10.28% 14.06% 10.96%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 26.14% 14.83% 11.86% 11.41%
Cost of Revenue to Revenue		 94.21% 93.37% 93.46% 94.87% 94.93% 91.33% 94.57% 94.19% 94.10% 93.84% 94.28%
SG&A Expenses to Revenue		 4.53% 5.32% 4.92% 3.88% 3.92% 6.20% 4.28% 3.75% 4.39% 4.70% 4.45%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 4.68% 8.48% 5.19% 3.58% 4.00% 6.36% 4.36% 3.38% 4.43% 4.70% 4.46%
Earnings before Interest and Taxes (EBIT)		 115 -152 120 197 139 192 142 460 244 251 235
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 238 -32 219 311 253 298 249 571 360 398 385
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.37 0.80 0.76 0.65 0.99 0.85 1.24 1.25 1.67 2.20 2.09
Price to Tangible Book Value (P/TBV)		 1.76 9.53 13.54 2.92 5.20 3.10 3.77 2.96 3.80 5.72 5.86
Price to Revenue (P/Rev)		 0.02 0.04 0.03 0.03 0.03 0.05 0.05 0.05 0.08 0.09 0.08
Price to Earnings (P/E)		 5.51 0.00 5.07 3.13 12.58 4.13 10.78 2.72 8.75 14.30 14.38
Dividend Yield		 36.82% 19.79% 20.88% 19.58% 15.56% 15.26% 11.90% 8.32% 6.76% 6.22% 7.26%
Earnings Yield		 18.15% 0.00% 19.71% 31.94% 7.95% 24.22% 9.28% 36.71% 11.43% 6.99% 6.95%
Enterprise Value to Invested Capital (EV/IC)		 0.72 0.95 0.93 0.88 0.99 0.94 1.09 1.12 1.37 1.45 1.38
Enterprise Value to Revenue (EV/Rev)		 0.10 0.17 0.14 0.10 0.10 0.14 0.12 0.10 0.12 0.16 0.14
Enterprise Value to EBITDA (EV/EBITDA)		 4.33 0.00 5.60 3.97 5.05 3.98 6.37 3.29 5.51 7.01 6.87
Enterprise Value to EBIT (EV/EBIT)		 8.99 0.00 10.23 6.27 9.19 6.16 11.17 4.08 8.12 11.12 11.26
Enterprise Value to NOPAT (EV/NOPAT)		 8.60 0.00 6.01 6.62 9.48 6.15 11.41 4.27 8.55 11.58 11.38
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.50 0.00 3.52 7.32 13.56 3.79 31.63 3.91 3.86 88.40 9.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 3.41 12.84 4.98 5.35 0.00 8.46 4.27 0.00 10.33
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.08 2.73 2.38 1.84 1.83 1.56 1.79 1.13 0.95 1.84 2.01
Long-Term Debt to Equity		 1.08 2.04 2.06 1.63 1.50 1.49 1.40 0.94 0.93 1.66 1.82
Financial Leverage		 0.83 1.67 2.52 2.05 1.81 1.67 1.66 1.39 0.97 1.23 1.76
Leverage Ratio		 3.53 4.79 6.17 5.31 5.46 5.60 5.25 4.55 4.16 4.77 5.49
Compound Leverage Factor		 1.27 7.50 1.73 2.91 1.42 2.96 2.29 3.75 2.74 2.18 2.32
Debt to Total Capital		 51.82% 73.19% 70.42% 64.77% 64.64% 60.91% 64.14% 53.15% 48.68% 64.75% 66.79%
Short-Term Debt to Total Capital		 0.00% 18.50% 9.50% 7.29% 11.47% 2.71% 13.91% 9.12% 1.08% 6.37% 6.20%
Long-Term Debt to Total Capital		 51.82% 54.69% 60.92% 57.48% 53.17% 58.19% 50.23% 44.03% 47.60% 58.38% 60.59%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 3.21% 0.35% 0.25% 0.13% 0.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 44.97% 26.46% 29.33% 35.10% 35.27% 39.09% 35.86% 46.85% 51.32% 35.25% 33.21%
Debt to EBITDA		 3.13 -34.32 4.29 2.95 3.31 2.59 3.78 1.57 2.11 3.30 3.53
Net Debt to EBITDA		 3.13 -34.01 4.22 2.92 3.27 2.56 3.74 1.56 1.80 3.05 3.20
Long-Term Debt to EBITDA		 3.13 -25.65 3.71 2.62 2.73 2.48 2.96 1.30 2.07 2.98 3.20
Debt to NOPAT		 6.22 -10.19 4.60 4.91 6.22 4.01 6.78 2.03 3.28 5.46 5.85
Net Debt to NOPAT		 6.21 -10.10 4.53 4.87 6.13 3.96 6.71 2.02 2.79 5.04 5.31
Long-Term Debt to NOPAT		 6.22 -7.62 3.98 4.36 5.11 3.83 5.31 1.68 3.21 4.92 5.31
Altman Z-Score		 4.21 3.23 4.22 5.74 5.04 3.78 5.11 6.78 5.36 5.12 5.33
Noncontrolling Interest Sharing Ratio		 7.17% 4.71% 1.08% 0.59% 0.32% 0.12% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.46 1.35 1.31 1.50 1.33 1.57 1.27 1.20 1.12 1.21 1.14
Quick Ratio		 0.53 0.54 0.65 0.60 0.57 0.48 0.50 0.50 0.59 0.49 0.51
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -328 -141 360 96 257 221 -64 222 464 -245 256
Operating Cash Flow to CapEx		 70.55% 0.00% 2,040.18% 332.64% 143.46% 458.79% 52.68% 0.00% 674.40% 57.80% 335.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 19.66 30.89 0.00 0.00 0.00 0.00 86.06
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 7.22 43.62 0.00 0.00 0.00 0.00 95.86
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 2.19 34.12 0.00 0.00 0.00 0.00 67.29
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 4.39 3.15 3.65 5.34 5.00 3.11 4.93 6.30 4.99 4.75 4.86
Accounts Receivable Turnover		 26.60 22.32 21.10 33.29 34.37 25.58 41.27 42.25 31.68 33.05 36.70
Inventory Turnover		 26.78 16.89 19.11 32.62 29.68 18.21 28.03 33.04 32.19 32.49 30.62
Fixed Asset Turnover		 9.98 7.03 8.35 11.68 11.69 7.61 12.14 16.29 12.07 10.66 11.04
Accounts Payable Turnover		 25.56 24.66 26.31 38.63 36.40 26.15 44.65 40.22 26.31 27.80 32.31
Days Sales Outstanding (DSO)		 13.72 16.36 17.30 10.96 10.62 14.27 8.84 8.64 11.52 11.05 9.95
Days Inventory Outstanding (DIO)		 13.63 21.61 19.10 11.19 12.30 20.05 13.02 11.05 11.34 11.23 11.92
Days Payable Outstanding (DPO)		 14.28 14.80 13.87 9.45 10.03 13.96 8.17 9.08 13.87 13.13 11.30
Cash Conversion Cycle (CCC)		 13.07 23.16 22.53 12.71 12.89 20.36 13.69 10.61 8.99 9.15 10.57
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,439 1,474 1,318 1,409 1,287 1,258 1,461 1,679 1,446 1,932 1,908
Invested Capital Turnover		 8.49 5.66 6.39 9.29 9.71 6.54 9.75 12.03 10.56 10.16 9.67
Increase / (Decrease) in Invested Capital		 448 35 -156 91 -122 -29 203 218 -233 486 -24
Enterprise Value (EV)		 1,032 1,395 1,225 1,237 1,280 1,184 1,588 1,877 1,979 2,793 2,642
Market Capitalization		 240 313 298 325 451 422 655 987 1,334 1,578 1,409
Book Value per Share		 $19.06 $11.55 $11.50 $14.63 $13.47 $14.58 $15.52 $23.19 $23.55 $21.08 $19.87
Tangible Book Value per Share		 $4.02 $0.97 $0.65 $3.28 $2.55 $4.00 $5.11 $9.82 $10.32 $8.12 $7.07
Total Capital		 1,440 1,484 1,333 1,417 1,299 1,268 1,472 1,683 1,560 2,033 2,034
Total Debt		 746 1,086 939 918 839 772 944 894 760 1,316 1,359
Total Long-Term Debt		 746 812 812 814 691 738 739 741 743 1,187 1,233
Net Debt		 745 1,076 924 910 827 762 933 890 646 1,215 1,233
Capital Expenditures (CapEx)		 89 -6.45 17 51 66 68 95 -22 76 55 85
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 271 541 321 387 387 309 419 347 112 329 265
Debt-free Net Working Capital (DFNWC)		 272 551 336 395 400 318 430 351 132 337 277
Net Working Capital (NWC)		 272 276 209 292 251 284 225 198 115 207 151
Net Nonoperating Expense (NNE)		 77 132 147 85 100 91 78 78 79 131 134
Net Nonoperating Obligations (NNO)		 745 1,076 924 910 827 762 933 890 646 1,215 1,233
Total Depreciation and Amortization (D&A)		 124 121 99 114 114 105 107 110 116 147 150
Debt-free, Cash-free Net Working Capital to Revenue		 2.63% 6.56% 3.60% 3.06% 2.96% 3.71% 3.17% 1.84% 0.68% 1.91% 1.43%
Debt-free Net Working Capital to Revenue		 2.64% 6.69% 3.77% 3.12% 3.05% 3.83% 3.25% 1.86% 0.80% 1.96% 1.49%
Net Working Capital to Revenue		 2.64% 3.35% 2.35% 2.31% 1.92% 3.41% 1.70% 1.05% 0.70% 1.21% 0.82%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.12 ($5.91) $1.74 $2.98 $1.64 $2.77 $1.33 $10.06 $3.77 $2.45 $2.13
Adjusted Weighted Average Basic Shares Outstanding		 32.18M 33.53M 33.59M 34.00M 33.81M 33.91M 33.94M 33.94M 33.97M 33.84M 33.87M
Adjusted Diluted Earnings per Share		 $1.11 ($5.91) $1.74 $2.95 $1.62 $2.74 $1.31 $10.02 $3.76 $2.41 $2.11
Adjusted Weighted Average Diluted Shares Outstanding		 32.32M 33.53M 33.63M 34.00M 34.34M 34.31M 34.28M 34.04M 34.04M 34.34M 34.22M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.18M 33.53M 33.59M 34.00M 34.00M 0.00 0.00 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 82 69 83 190 134 136 139 364 229 233 229
Normalized NOPAT Margin		 0.79% 0.84% 0.93% 1.50% 1.02% 1.64% 1.05% 1.93% 1.39% 1.35% 1.23%
Pre Tax Income Margin		 0.40% -2.90% 0.38% 0.85% 0.28% 1.22% 0.47% 2.01% 0.97% 0.67% 0.53%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 10.64 26.84 0.00 0.00 0.00 0.00 78.98
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 10.32 26.87 0.00 0.00 0.00 0.00 78.14
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 5.61 17.33 0.00 0.00 0.00 0.00 50.41
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 5.29 17.36 0.00 0.00 0.00 0.00 49.56
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 237.55% -26.95% 110.52% 64.46% 217.82% 71.80% 151.19% 27.73% 94.99% 110.74% 133.35%
Augmented Payout Ratio		 246.55% -26.95% 110.52% 64.46% 217.82% 72.09% 157.40% 28.53% 97.30% 123.58% 143.56%

Quarterly Metrics And Ratios for Global Partners

This table displays calculated financial ratios and metrics derived from Global Partners' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 33,995,563.00 33,995,563.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 33,995,563.00 33,995,563.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 2.06 2.09
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.40% 2.86% 15.08% 4.77% -5.05% 10.78% 4.93% 6.15% 11.03% 15.89% 46.79%
EBITDA Growth		 5.30% -24.33% 33.21% 57.43% -14.38% 55.71% -19.03% -18.58% -1.71% 52.88% 49.11%
EBIT Growth		 3.25% -49.83% 33.80% 73.94% -28.85% 116.31% -28.38% -26.41% -1.32% 89.20% 78.74%
NOPAT Growth		 -3.47% -64.40% 30.81% 73.59% -21.89% 189.93% -25.19% -21.59% -2.24% 99.27% 65.63%
Net Income Growth		 -3.82% -119.30% 11.50% 71.30% -56.84% 433.52% -45.37% -36.80% 5.03% 275.38% 181.57%
EPS Growth		 -7.84% -152.86% 4.76% 95.00% -63.83% 197.30% -50.00% -43.59% 5.88% 413.89% 238.18%
Operating Cash Flow Growth		 274.82% -845.42% -90.82% 26.39% -60.31% 71.76% 788.52% -84.50% 50.26% -102.95% 43.04%
Free Cash Flow Firm Growth		 316.84% -1.83% -8,763.10% -2,269.78% -239.64% 116.80% 143.41% 135.63% 118.68% -79.93% -44.06%
Invested Capital Growth		 -13.86% 15.67% 35.75% 34.57% 33.59% 0.48% -6.83% -4.66% -1.22% 4.74% -0.67%
Revenue Q/Q Growth		 4.46% -5.98% 6.38% 0.28% -5.34% 9.70% 0.76% 1.46% -0.99% 14.50% 27.63%
EBITDA Q/Q Growth		 45.98% -46.42% 101.17% 0.06% -20.61% -2.55% 4.60% 0.62% -4.17% 51.57% 2.02%
EBIT Q/Q Growth		 70.11% -68.34% 224.62% -0.50% -30.42% -3.75% 7.48% 2.25% -6.71% 84.55% 1.54%
NOPAT Q/Q Growth		 61.23% -75.52% 345.94% -1.37% -27.46% -9.14% 15.06% 3.38% -9.56% 85.22% -4.36%
Net Income Q/Q Growth		 106.20% -110.13% 923.80% -0.49% -48.05% -21.69% 34.93% 15.13% -13.67% 179.89% 1.21%
EPS Q/Q Growth		 135.00% -126.24% 397.30% 6.36% -56.41% -29.41% 52.78% 20.00% -18.18% 242.59% 0.54%
Operating Cash Flow Q/Q Growth		 74.50% -207.84% 113.33% 404.02% -45.20% -176.72% 519.31% -91.20% 431.10% -203.61% 395.53%
Free Cash Flow Firm Q/Q Growth		 1,414.98% -183.08% -82.41% 5.49% 2.50% 109.99% 371.43% -22.44% -48.87% -89.27% 1,214.24%
Invested Capital Q/Q Growth		 -3.60% 39.24% 2.81% -2.49% -4.30% 4.73% -4.67% -0.22% -0.85% 11.05% -9.59%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 6.36% 5.19% 6.53% 6.47% 6.42% 5.56% 5.89% 5.78% 5.66% 6.24% 4.84%
EBITDA Margin		 2.55% 1.45% 2.74% 2.74% 2.30% 2.04% 2.12% 2.10% 2.03% 2.69% 2.15%
Operating Margin		 1.85% 0.62% 1.90% 1.89% 1.39% 1.22% 1.30% 1.31% 1.23% 1.99% 1.58%
EBIT Margin		 1.85% 0.62% 1.90% 1.89% 1.39% 1.22% 1.30% 1.31% 1.23% 1.99% 1.58%
Profit (Net Income) Margin		 1.25% -0.14% 1.05% 1.04% 0.57% 0.41% 0.54% 0.62% 0.54% 1.32% 1.05%
Tax Burden Percent		 90.53% 106.93% 96.16% 95.32% 99.38% 93.82% 100.45% 101.56% 98.46% 98.82% 93.08%
Interest Burden Percent		 74.82% -20.28% 57.22% 57.73% 41.34% 35.63% 41.78% 46.53% 44.42% 67.12% 71.03%
Effective Tax Rate		 9.47% 0.00% 3.84% 4.68% 0.62% 6.18% -0.45% -1.56% 1.54% 1.18% 6.92%
Return on Invested Capital (ROIC)		 17.69% 3.86% 17.48% 17.78% 14.01% 9.96% 11.63% 12.20% 11.73% 18.29% 16.42%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.26% 1.74% 14.22% 14.45% 10.37% 7.34% 8.93% 9.57% 9.17% 15.77% 14.02%
Return on Net Nonoperating Assets (RNNOA)		 14.75% 2.54% 20.30% 19.50% 12.72% 12.97% 16.73% 17.27% 16.13% 30.66% 23.55%
Return on Equity (ROE)		 32.44% 6.40% 37.78% 37.27% 26.73% 22.93% 28.36% 29.47% 27.86% 48.95% 39.97%
Cash Return on Invested Capital (CROIC)		 29.70% -3.66% -17.95% -14.91% -14.48% 12.91% 19.56% 16.61% 13.32% 9.04% 17.41%
Operating Return on Assets (OROA)		 9.24% 3.24% 9.66% 9.77% 6.58% 5.88% 6.08% 6.43% 5.99% 9.43% 8.69%
Return on Assets (ROA)		 6.26% -0.70% 5.32% 5.38% 2.70% 1.97% 2.55% 3.04% 2.62% 6.25% 5.75%
Return on Common Equity (ROCE)		 32.44% 6.40% 37.78% 37.27% 26.73% 22.93% 28.36% 29.47% 27.86% 48.95% 39.97%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 15.43% 17.38% 19.60% 0.00% 19.36% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 74 18 81 80 58 52 60 62 56 104 100
NOPAT Margin		 1.68% 0.44% 1.83% 1.80% 1.38% 1.14% 1.30% 1.33% 1.21% 1.96% 1.47%
Net Nonoperating Expense Percent (NNEP)		 2.42% 2.12% 3.26% 3.33% 3.64% 2.62% 2.69% 2.63% 2.56% 2.51% 2.40%
Return On Investment Capital (ROIC_SIMPLE)		 4.74% - - - 2.84% 2.45% 2.93% 3.04% 2.77% 4.64% 4.86%
Cost of Revenue to Revenue		 93.64% 94.81% 93.47% 93.53% 93.58% 94.44% 94.11% 94.22% 94.34% 93.76% 95.16%
SG&A Expenses to Revenue		 4.47% 4.58% 4.59% 4.69% 4.96% 4.36% 4.55% 4.45% 4.42% 4.30% 3.24%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 4.51% 4.57% 4.63% 4.58% 5.03% 4.34% 4.59% 4.47% 4.43% 4.25% 3.26%
Earnings before Interest and Taxes (EBIT)		 82 26 84 83 58 56 60 61 57 106 107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 112 60 121 121 96 94 98 99 94 143 146
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.67 1.97 2.22 2.17 2.20 2.63 2.62 2.40 2.09 2.01 2.12
Price to Tangible Book Value (P/TBV)		 3.80 4.73 6.07 5.57 5.72 7.14 7.23 6.67 5.86 5.16 5.03
Price to Revenue (P/Rev)		 0.08 0.09 0.09 0.09 0.09 0.10 0.10 0.09 0.08 0.07 0.07
Price to Earnings (P/E)		 8.75 12.79 12.75 11.06 14.30 13.60 16.19 17.42 14.38 9.59 8.14
Dividend Yield		 6.76% 6.12% 6.07% 6.14% 6.22% 5.43% 5.57% 6.18% 7.26% 7.15% 6.50%
Earnings Yield		 11.43% 7.82% 7.84% 9.04% 6.99% 7.35% 6.18% 5.74% 6.95% 10.42% 12.28%
Enterprise Value to Invested Capital (EV/IC)		 1.37 1.37 1.41 1.42 1.45 1.56 1.58 1.50 1.38 1.34 1.44
Enterprise Value to Revenue (EV/Rev)		 0.12 0.17 0.17 0.16 0.16 0.18 0.17 0.16 0.14 0.15 0.13
Enterprise Value to EBITDA (EV/EBITDA)		 5.51 8.10 7.91 6.91 7.01 7.31 7.44 7.46 6.87 6.54 5.72
Enterprise Value to EBIT (EV/EBIT)		 8.12 12.64 12.24 10.42 11.12 11.23 11.81 12.24 11.26 9.99 8.31
Enterprise Value to NOPAT (EV/NOPAT)		 8.55 13.51 13.16 11.17 11.58 11.69 12.17 12.34 11.38 10.03 8.57
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.86 7.90 27.08 21.40 88.40 19.41 8.57 11.48 9.28 12.26 8.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 4.27 0.00 0.00 0.00 0.00 12.12 7.78 8.80 10.33 15.16 8.24
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.95 1.85 2.08 1.94 1.84 2.07 2.00 2.01 2.01 2.17 1.75
Long-Term Debt to Equity		 0.93 1.55 1.68 1.64 1.66 1.71 1.85 1.81 1.82 1.73 1.65
Financial Leverage		 0.97 1.46 1.43 1.35 1.23 1.77 1.87 1.81 1.76 1.94 1.68
Leverage Ratio		 4.16 4.20 4.57 4.48 4.77 4.99 5.47 5.24 5.49 5.78 5.44
Compound Leverage Factor		 3.11 -0.85 2.61 2.59 1.97 1.78 2.29 2.44 2.44 3.88 3.86
Debt to Total Capital		 48.68% 64.87% 67.52% 66.02% 64.75% 67.46% 66.61% 66.79% 66.79% 68.42% 63.62%
Short-Term Debt to Total Capital		 1.08% 10.39% 12.95% 10.30% 6.37% 11.92% 4.79% 6.84% 6.20% 13.68% 3.63%
Long-Term Debt to Total Capital		 47.60% 54.47% 54.57% 55.72% 58.38% 55.55% 61.82% 59.95% 60.59% 54.73% 59.99%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 51.32% 35.13% 32.48% 33.98% 35.25% 32.54% 33.39% 33.21% 33.21% 31.58% 36.38%
Debt to EBITDA		 2.11 4.15 3.96 3.39 3.30 3.34 3.35 3.55 3.53 3.55 2.71
Net Debt to EBITDA		 1.80 3.67 3.68 3.13 3.05 3.07 3.04 3.22 3.20 3.24 2.42
Long-Term Debt to EBITDA		 2.07 3.48 3.20 2.86 2.98 2.75 3.11 3.19 3.20 2.84 2.56
Debt to NOPAT		 3.28 6.91 6.59 5.48 5.46 5.34 5.48 5.88 5.85 5.44 4.07
Net Debt to NOPAT		 2.79 6.12 6.13 5.06 5.04 4.91 4.98 5.32 5.31 4.97 3.63
Long-Term Debt to NOPAT		 3.21 5.80 5.33 4.63 4.92 4.39 5.09 5.28 5.31 4.35 3.84
Altman Z-Score		 5.21 5.21 4.90 5.19 4.96 5.07 5.17 5.34 5.18 4.84 5.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.12 1.17 1.10 1.14 1.21 1.17 1.18 1.21 1.14 1.12 1.19
Quick Ratio		 0.59 0.65 0.53 0.51 0.49 0.55 0.57 0.58 0.51 0.52 0.61
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 307 -255 -464 -439 -428 43 202 156 80 8.58 113
Operating Cash Flow to CapEx		 508.53% -6,814.70% 217.39% 0.00% 152.00% -361.22% 1,471.56% 99.19% 275.11% -392.38% 899.53%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 72.14 888.62 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 77.40 108.10 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 72.14 -0.89 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 4.99 5.20 5.08 5.18 4.75 4.84 4.68 4.91 4.86 4.75 5.50
Accounts Receivable Turnover		 31.68 32.89 32.61 34.65 33.05 30.62 30.13 36.04 36.70 28.35 33.50
Inventory Turnover		 32.19 39.63 35.51 36.65 32.49 35.84 31.52 34.83 30.62 28.96 37.75
Fixed Asset Turnover		 12.07 12.33 11.91 12.20 10.66 11.08 10.63 10.92 11.04 11.54 12.92
Accounts Payable Turnover		 26.31 41.12 33.82 32.22 27.80 33.16 29.17 36.21 32.31 28.58 31.06
Days Sales Outstanding (DSO)		 11.52 11.10 11.19 10.53 11.05 11.92 12.12 10.13 9.95 12.88 10.90
Days Inventory Outstanding (DIO)		 11.34 9.21 10.28 9.96 11.23 10.18 11.58 10.48 11.92 12.60 9.67
Days Payable Outstanding (DPO)		 13.87 8.88 10.79 11.33 13.13 11.01 12.51 10.08 11.30 12.77 11.75
Cash Conversion Cycle (CCC)		 8.99 11.43 10.68 9.16 9.15 11.10 11.18 10.53 10.57 12.71 8.81
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,446 2,014 2,070 2,019 1,932 2,023 1,929 1,925 1,908 2,119 1,916
Invested Capital Turnover		 10.56 8.85 9.56 9.88 10.16 8.72 8.92 9.18 9.67 9.31 11.16
Increase / (Decrease) in Invested Capital		 -233 273 545 519 486 9.66 -141 -94 -24 96 -13
Enterprise Value (EV)		 1,979 2,757 2,929 2,863 2,793 3,159 3,040 2,882 2,642 2,841 2,757
Market Capitalization		 1,334 1,507 1,564 1,568 1,578 1,831 1,798 1,640 1,409 1,433 1,590
Book Value per Share		 $23.55 $22.47 $20.75 $21.28 $21.08 $20.46 $20.19 $20.08 $19.87 $20.94 $22.02
Tangible Book Value per Share		 $10.32 $9.37 $7.58 $8.28 $8.12 $7.54 $7.31 $7.23 $7.07 $8.17 $9.29
Total Capital		 1,560 2,175 2,172 2,129 2,033 2,138 2,056 2,055 2,034 2,254 2,057
Total Debt		 760 1,411 1,467 1,405 1,316 1,442 1,369 1,373 1,359 1,542 1,309
Total Long-Term Debt		 743 1,185 1,185 1,186 1,187 1,187 1,271 1,232 1,233 1,233 1,234
Net Debt		 646 1,250 1,365 1,295 1,215 1,328 1,243 1,242 1,233 1,407 1,167
Capital Expenditures (CapEx)		 33 2.68 11 -3.45 44 14 15 19 37 27 34
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 112 322 384 340 329 424 270 323 265 474 281
Debt-free Net Working Capital (DFNWC)		 132 395 398 361 337 431 286 341 277 493 305
Net Working Capital (NWC)		 115 169 116 142 207 176 188 200 151 184 230
Net Nonoperating Expense (NNE)		 19 24 34 34 34 34 35 33 31 34 29
Net Nonoperating Obligations (NNO)		 646 1,250 1,365 1,295 1,215 1,328 1,243 1,242 1,233 1,407 1,167
Total Depreciation and Amortization (D&A)		 31 34 37 38 38 38 38 37 37 37 39
Debt-free, Cash-free Net Working Capital to Revenue		 0.68% 1.94% 2.23% 1.96% 1.91% 2.41% 1.52% 1.78% 1.43% 2.46% 1.31%
Debt-free Net Working Capital to Revenue		 0.80% 2.38% 2.31% 2.08% 1.96% 2.45% 1.61% 1.88% 1.49% 2.55% 1.42%
Net Working Capital to Revenue		 0.70% 1.02% 0.68% 0.81% 1.21% 1.00% 1.05% 1.11% 0.82% 0.96% 1.07%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.42 ($0.37) $1.11 $1.18 $0.53 $0.37 $0.55 $0.66 $0.55 $1.86 $1.87
Adjusted Weighted Average Basic Shares Outstanding		 33.97M 33.96M 33.91M 33.78M 33.84M 33.89M 33.92M 33.87M 33.87M 33.89M 33.93M
Adjusted Diluted Earnings per Share		 $1.41 ($0.37) $1.10 $1.17 $0.51 $0.36 $0.55 $0.66 $0.54 $1.85 $1.86
Adjusted Weighted Average Diluted Shares Outstanding		 34.04M 33.96M 34.28M 34.19M 34.34M 34.30M 34.10M 34.16M 34.22M 34.05M 34.12M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 73 16 80 73 59 50 42 43 55 101 100
Normalized NOPAT Margin		 1.67% 0.39% 1.82% 1.64% 1.41% 1.09% 0.92% 0.91% 1.19% 1.90% 1.48%
Pre Tax Income Margin		 1.38% -0.13% 1.09% 1.09% 0.57% 0.43% 0.54% 0.61% 0.55% 1.33% 1.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 21.49 348.95 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 21.59 354.41 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 16.23 239.96 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 16.33 245.42 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 94.99% 99.39% 97.82% 85.74% 110.74% 93.15% 111.60% 133.21% 133.35% 88.26% 67.94%
Augmented Payout Ratio		 97.30% 99.39% 107.13% 95.62% 123.58% 104.07% 120.25% 143.94% 143.56% 94.59% 74.34%

Financials Breakdown Chart

Key Financial Trends

Global Partners (NYSE: GLP) has shown meaningful top-line growth over the last several years, but the latest quarter also highlights a highly leveraged balance sheet and some pressure on operating cash flow. Revenue has generally trended higher year over year, and earnings remain positive, but debt levels, interest expense, and working-capital swings continue to be major factors investors should watch.

What stands out positively:

  • Q1 2026 revenue rose to $5.32 billion, up from $4.65 billion in Q4 2025 and $4.59 billion in Q1 2025, showing continued sales growth.
  • Gross profit improved to $332.2 million in Q1 2026, above $263.1 million in Q4 2025 and $255.2 million in Q1 2025.
  • Operating income increased to $105.7 million in Q1 2026, a solid rebound from $57.3 million in Q4 2025.
  • Net income in Q1 2026 came in at $70.1 million, more than double Q4 2025’s $25.1 million.
  • Cash and equivalents rose to $18.4 million at the end of Q1 2026, up from $17.9 million in Q3 2025 and $7.5 million in Q1 2025.
  • The company continued to generate strong revenue growth versus 2024 levels, with Q1 2026 sales materially above the $4.15 billion reported in Q1 2024.

Neutral observations:

  • GLP remains profitable, with earnings per share of $1.85 diluted in Q1 2026 versus $0.54 in Q4 2025.
  • The company continues to invest in its asset base, with $1.65 billion in net PP&E on the balance sheet in Q1 2026.
  • Quarterly cash flow has been volatile, moving from positive operating cash flow in Q4 2025 to a -$104.7 million operating cash flow in Q1 2026.
  • Working-capital swings remain a key driver of cash generation, which makes quarter-to-quarter cash flow harder to predict.

Key risks and negatives:

  • Total liabilities were $3.60 billion in Q1 2026 versus $711.8 million of equity, indicating a highly leveraged capital structure.
  • Long-term debt stood at $1.23 billion, and short-term debt added another $308.3 million in Q1 2026.
  • Operating cash flow turned sharply negative in Q1 2026 at -$104.7 million, compared with $101.0 million in Q4 2025.
  • Interest and investment income remained negative in the income statement, while cash interest paid was still substantial at $36.4 million in Q1 2026.
  • The company’s balance sheet carries sizable current liabilities, including $749.8 million in accounts payable and $308.3 million in short-term debt, which could pressure liquidity.
  • Cash on hand remains thin relative to obligations, with only $18.4 million of cash against more than $1.52 billion in current liabilities.

Bottom line: Global Partners has demonstrated solid revenue and earnings growth, and Q1 2026 was a stronger profit quarter than the prior one. However, the company remains heavily leveraged, and the latest quarter showed weak operating cash flow. For retail investors, GLP looks like a business with real earnings power, but also one that carries meaningful balance-sheet and interest-rate risk.

08/23/26 06:16 AM ETAI Generated. May Contain Errors.

Global Partners Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Global Partners' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Global Partners' net income appears to be on an upward trend, with a most recent value of $97.98 million in 2025, rising from $43.26 million in 2015. The previous period was $110.33 million in 2024. See where experts think Global Partners is headed by visiting Global Partners' forecast page.

Global Partners' total operating income in 2025 was $234.66 million, based on the following breakdown:
  • Total Gross Profit: $1.06 billion
  • Total Operating Expenses: $827.39 million

Over the last 10 years, Global Partners' total revenue changed from $10.31 billion in 2015 to $18.56 billion in 2025, a change of 79.9%.

Global Partners' total liabilities were at $3.18 billion at the end of 2025, a 3.4% increase from 2024, and a 61.2% increase since 2015.

In the past 10 years, Global Partners' cash and equivalents has ranged from $1.12 million in 2015 to $19.64 million in 2023, and is currently $12.24 million as of their latest financial filing in 2025.

Over the last 10 years, Global Partners' book value per share changed from 19.06 in 2015 to 19.87 in 2025, a change of 4.3%.


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Financial statements for NYSE:GLP last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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