NYSE : GLP
Global Partners LP — Financial statements
Energy · Oil & Gas Midstream · United States
Last price 47.44 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.62B
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Financial statements
Global Partners LP (GLP) reported revenue of 21.46B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 21.46B | 18.56B | 17.16B | 16.49B | 18.88B | 13.25B |
| Cost of Revenue | 20.21B | 17.44B | 16.06B | 15.47B | 17.74B | 12.49B |
| Gross Profit | 1.25B | 1.12B | 1.10B | 1.02B | 1.14B | 761.70M |
| Selling, General & Admin | 918.05M | 880.47M | 851.15M | 769.25M | 750.71M | 608.89M |
| Amortization of Goodwill & Intangibles | 5.08M | 5.33M | 8.28M | 8.14M | 8.85M | 10.71M |
| Operating Expenses | 923.13M | 885.80M | 859.43M | 777.39M | 759.56M | 619.61M |
| Operating Income | 327.74M | 231.57M | 242.22M | 241.14M | 383.21M | 142.09M |
| Interest Expense | -135.19M | -137.16M | -134.77M | -85.63M | -81.26M | -80.09M |
| Earnings From Equity Investments | 4.82M | 4.51M | -1.51M | 2.50M | ||
| EBT Excluding Unusual Items | 197.37M | 98.92M | 105.93M | 158.02M | 301.96M | 62.01M |
| Merger & Restructuring Charges | -2.80M | |||||
| Gain (Loss) on Sale of Assets | 4.09M | 3.33M | 9.49M | 2.63M | 79.87M | 506.00K |
| Asset Writedown | -20.00K | -231.00K | -492.00K | -380.00K | ||
| Other Unusual Items | -176.00K | -2.97M | -2.63M | |||
| Pretax Income | 201.26M | 99.04M | 112.30M | 160.64M | 379.03M | 62.13M |
| Income Tax Expense | 6.06M | 1.06M | 4.61M | 8.14M | 16.82M | 1.34M |
| Earnings From Continuing Operations | 195.20M | 97.98M | 107.69M | 152.51M | 362.21M | 60.80M |
| Minority Interest in Earnings | -21.00M | -18.76M | -15.34M | -9.91M | -7.14M | -3.58M |
| Net Income | 174.20M | 79.22M | 92.35M | 142.60M | 355.07M | 57.22M |
| Preferred Dividends & Other Adjustments | 7.12M | 7.12M | 9.57M | 14.56M | 13.85M | 12.21M |
| Net Income to Common | 167.08M | 72.09M | 82.77M | 128.04M | 341.22M | 45.01M |
| Shares Outstanding (Basic) | 33.87M | 33.87M | 33.84M | 33.97M | 33.94M | 33.94M |
| Shares Outstanding (Diluted) | 34.19M | 34.22M | 34.34M | 34.04M | 34.04M | 34.28M |
| EPS (Basic) | 4.93 | 2.13 | 2.45 | 3.77 | 10.06 | 1.33 |
| EPS (Diluted) | 4.89 | 2.11 | 2.41 | 3.76 | 10.02 | 1.31 |
| Free Cash Flow | 199.43M | 193.34M | -286.78M | 110.42M | 373.20M | -51.50M |
| Free Cash Flow Per Share | 5.83 | 5.65 | -8.35 | 3.24 | 10.96 | -1.50 |
| Dividend Per Share | 3.06 | 3.01 | 2.90 | 2.71 | 2.46 | 2.31 |
| Gross Margin | 5.83% | 6.02% | 6.42% | 6.18% | 6.05% | 5.75% |
| Operating Margin | 1.53% | 1.25% | 1.41% | 1.46% | 2.03% | 1.07% |
| Profit Margin | 0.78% | 0.39% | 0.48% | 0.78% | 1.81% | 0.34% |
| Free Cash Flow Margin | 0.93% | 1.04% | -1.67% | 0.67% | 1.98% | -0.39% |
| EBITDA | 470.53M | 374.15M | 381.91M | 351.23M | 488.01M | 244.33M |
| EBITDA Margin | 2.19% | 2.02% | 2.23% | 2.13% | 2.58% | 1.84% |
| D&A For EBITDA | 142.79M | 142.58M | 139.69M | 110.09M | 104.80M | 102.24M |
| EBIT | 327.74M | 231.57M | 242.22M | 241.14M | 383.21M | 142.09M |
| EBIT Margin | 1.53% | 1.25% | 1.41% | 1.46% | 2.03% | 1.07% |
| Effective Tax Rate | 3.01% | 1.07% | 4.10% | 5.07% | 4.44% | 2.15% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 23.91M | 12.24M | 8.21M | 19.64M | 4.04M | 10.85M |
| Cash & Short-Term Investments | 23.91M | 12.24M | 8.21M | 19.64M | 4.04M | 10.85M |
| Accounts Receivable | 706.32M | 530.14M | 472.59M | 551.76M | 478.84M | 411.19M |
| Other Receivables | 3.79M | 2.54M | 5.16M | 8.03M | 2.38M | 1.14M |
| Receivables | 710.11M | 532.69M | 477.75M | 559.79M | 481.22M | 412.33M |
| Inventory | 577.83M | 549.12M | 594.07M | 397.31M | 566.73M | 509.52M |
| Prepaid Expenses | 85.13M | 98.49M | 92.41M | 90.53M | 73.99M | 87.08M |
| Other Current Assets | 29.05M | 34.95M | 34.94M | 30.55M | 43.28M | 45.31M |
| Total Current Assets | 1.43B | 1.23B | 1.21B | 1.10B | 1.17B | 1.07B |
| Property, Plant & Equipment | 1.98B | 2.01B | 1.98B | 1.74B | 1.48B | 1.35B |
| Long-Term Investments | 117.42M | 113.75M | 92.71M | 94.35M | ||
| Goodwill | 421.91M | 421.91M | 421.91M | 429.21M | 427.78M | 328.13M |
| Other Intangible Assets | 10.81M | 13.35M | 18.68M | 20.72M | 26.85M | 26.01M |
| Other Long-Term Assets | 62.56M | 68.91M | 69.21M | 68.00M | 61.18M | 62.80M |
| Total Assets | 4.02B | 3.85B | 3.79B | 3.45B | 3.16B | 2.83B |
| Accounts Payable | 714.32M | 573.20M | 509.98M | 648.72M | 530.94M | 353.30M |
| Accrued Expenses | 212.14M | 131.53M | 158.60M | 123.88M | 111.07M | 94.90M |
| Current Portion of Long-Term Debt | 74.60M | 126.10M | 129.50M | 16.80M | 153.40M | 204.70M |
| Current Portion of Leases | 72.06M | 73.78M | 56.78M | 59.94M | 64.92M | 62.35M |
| Other Current Liabilities | 122.59M | 171.59M | 145.27M | 133.45M | 111.15M | 124.35M |
| Total Current Liabilities | 1.20B | 1.08B | 1.00B | 982.79M | 971.48M | 839.60M |
| Long-Term Debt | 1.56B | 1.56B | 1.59B | 1.26B | 981.80M | 1.08B |
| Long-Term Leases | 297.85M | 311.43M | 251.75M | 200.19M | 231.43M | 228.20M |
| Long-Term Deferred Tax Liabilities | 67.66M | 64.53M | 63.55M | 68.91M | 66.40M | 56.82M |
| Other Long-Term Liabilities | 148.27M | 158.29M | 167.97M | 132.25M | 121.33M | 101.62M |
| Total Liabilities | 3.27B | 3.18B | 3.07B | 2.65B | 2.37B | 2.30B |
| Common Stock | 671.52M | 599.66M | 641.22M | 658.67M | 648.96M | 392.09M |
| Comprehensive Income & Other | 381.00K | -449.00K | -1.90M | |||
| Total Common Equity | 671.52M | 599.66M | 641.22M | 659.05M | 648.51M | 390.18M |
| Minority Interest | 4.74M | 3.58M | 3.09M | 1.83M | 406.00K | -1.95M |
| Shareholders' Equity | 748.57M | 675.54M | 716.61M | 800.66M | 788.44M | 527.77M |
| Total Liabilities & Equity | 4.02B | 3.85B | 3.79B | 3.45B | 3.16B | 2.83B |
| Total Debt | 2.01B | 2.08B | 2.03B | 1.54B | 1.43B | 1.57B |
| Net Cash (Debt) | -1.98B | -2.06B | -2.02B | -1.52B | -1.43B | -1.56B |
| Net Cash Per Share | -58.03 | -60.31 | -58.77 | -44.61 | -41.93 | -45.56 |
| Filing Date Shares Outstanding | 33.85M | 33.77M | 33.67M | 33.88M | 33.94M | 33.95M |
| Total Common Shares Outstanding | 33.85M | 33.77M | 33.67M | 33.88M | 33.94M | 33.95M |
| Working Capital | 230.32M | 151.30M | 207.26M | 115.04M | 197.78M | 225.49M |
| Book Value Per Share | 19.84 | 17.76 | 19.05 | 19.45 | 19.11 | 11.49 |
| Tangible Book Value | 238.80M | 164.40M | 200.62M | 209.12M | 193.87M | 36.03M |
| Tangible Book Value Per Share | 7.05 | 4.87 | 5.96 | 6.17 | 5.71 | 1.06 |
| Land | 682.78M | 679.26M | 678.69M | 614.55M | 523.63M | 457.26M |
| Buildings | 2.06B | 2.02B | 1.95B | 1.74B | 1.44B | 1.33B |
| Machinery | 53.26M | 63.75M | 56.70M | 47.59M | 42.14M | 38.65M |
| Construction In Progress | 83.75M | 71.34M | 71.44M | 54.28M | 56.05M | 52.72M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 195.20M | 97.98M | 110.33M | 152.51M | 362.21M | 60.80M |
| Depreciation & Amortization | 142.79M | 142.58M | 139.69M | 110.09M | 104.80M | 102.24M |
| Other Amortization | 7.75M | 7.45M | 8.89M | 6.13M | 5.43M | 5.40M |
| Loss (Gain) From Sale of Assets | -4.09M | -3.33M | -9.49M | -2.63M | -79.87M | -506.00K |
| Asset Writedown & Restructuring Costs | 20.00K | 231.00K | 492.00K | 380.00K | ||
| Loss (Gain) on Equity Investments | -4.82M | -4.51M | 1.51M | -2.50M | ||
| Stock-Based Compensation | 19.77M | 13.42M | 15.49M | 10.61M | 2.70M | 707.00K |
| Provision & Write-off of Bad Debts | 1.50M | 1.23M | -20.00K | 855.00K | 131.00K | -51.00K |
| Other Operating Activities | 2.13M | 4.43M | -5.16M | 3.88M | 9.58M | 599.00K |
| Change in Accounts Receivable | -140.27M | -55.16M | 81.08M | -79.54M | -69.02M | -182.56M |
| Change in Inventory | -82.66M | 44.41M | -200.41M | 172.11M | -52.09M | -123.89M |
| Change in Accounts Payable | 123.97M | 63.23M | -138.74M | 117.78M | 177.64M | 145.42M |
| Change in Other Net Operating Assets | 63.50M | -27.17M | 27.94M | 23.15M | 18.48M | 41.68M |
| Operating Cash Flow | 324.80M | 284.80M | 31.60M | 512.44M | 480.00M | 50.22M |
| Capital Expenditures | -125.36M | -91.47M | -318.38M | -402.02M | -106.80M | -101.72M |
| Sale of Property, Plant & Equipment | 8.37M | 6.58M | 48.63M | 12.86M | 128.51M | 6.39M |
| Cash Acquisitions | -1.50M | -256.25M | -18.03M | |||
| Investment in Securities | -16.30M | -29.52M | -19.12M | -95.30M | ||
| Other Investing Activities | 17.49M | 13.44M | 12.01M | -6.42M | -1.66M | -1.69M |
| Investing Cash Flow | -115.81M | -100.97M | -276.87M | -492.38M | -236.19M | -115.05M |
| Long-Term Debt Issued | 441.19M | 654.00M | 281.00M | 55.60M | 170.30M | |
| Total Debt Issued | -184.00K | 441.19M | 654.00M | 281.00M | 55.60M | 170.30M |
| Long-Term Debt Repaid | -466.90M | -213.00M | -136.60M | -201.30M | -78.60M | |
| Total Debt Repaid | -48.28M | -466.90M | -213.00M | -136.60M | -201.30M | -78.60M |
| Net Debt Issued (Repaid) | -48.47M | -25.71M | 441.00M | 144.40M | -145.70M | 91.70M |
| Repurchase of Common Stock | -20.08M | -23.43M | -15.99M | -3.99M | -4.46M | -5.98M |
| Dividends Paid | -129.36M | -126.64M | -121.61M | -144.72M | -100.45M | -91.92M |
| Other Financing Activities | -3.26M | -4.02M | -566.00K | -149.00K | ||
| Financing Cash Flow | -201.17M | -179.80M | 233.84M | -4.46M | -250.61M | 65.97M |
| Net Cash Flow | 7.82M | 4.04M | -11.43M | 15.60M | -6.81M | 1.14M |
| Free Cash Flow | 199.43M | 193.34M | -286.78M | 110.42M | 373.20M | -51.50M |
| Free Cash Flow Margin | 0.93% | 1.04% | -1.67% | 0.67% | 1.98% | -0.39% |
| Free Cash Flow Per Share | 5.83 | 5.65 | -8.35 | 3.24 | 10.96 | -1.50 |
| Levered Free Cash Flow | 136.49M | 177.40M | -300.35M | 61.92M | 264.48M | -52.35M |
| Unlevered Free Cash Flow | 213.23M | 255.67M | -225.01M | 109.31M | 309.84M | -7.69M |
| Cash Interest Paid | 117.05M | 128.86M | 94.69M | 65.26M | 60.91M | 54.71M |
| Cash Income Tax Paid | 5.71M | 5.71M | 9.30M | 2.90M | 8.05M | -14.78M |
| Change in Working Capital | -35.46M | 25.31M | -230.13M | 233.50M | 75.02M | -119.34M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.57B | 1.42B | 1.57B | 1.44B | 1.18B | 797.05M |
| Enterprise Value | 3.55B | 3.53B | 3.65B | 2.87B | 2.58B | 2.38B |
| Last Close Price | 46.04 | 39.90 | 41.73 | 35.58 | 26.30 | 16.31 |
| PE Ratio | 9.42 | 19.64 | 18.97 | 11.22 | 3.46 | 17.71 |
| Forward PE | 11.51 | 15.00 | 20.69 | 10.82 | 8.28 | 13.94 |
| PS Ratio | 0.07 | 0.08 | 0.09 | 0.09 | 0.06 | 0.06 |
| PB Ratio | 2.32 | 2.10 | 2.19 | 1.79 | 1.50 | 1.51 |
| P/TBV Ratio | 6.57 | 8.61 | 7.83 | 6.87 | 6.09 | 22.12 |
| P/FCF Ratio | 7.87 | 7.32 | 13.02 | 3.16 | ||
| P/OCF Ratio | 4.83 | 4.97 | 49.68 | 2.80 | 2.46 | 15.87 |
| PEG Ratio | 25.57 | 25.57 | 25.57 | 25.57 | 25.57 | |
| EV/Sales Ratio | 0.17 | 0.19 | 0.21 | 0.17 | 0.14 | 0.18 |
| EV/EBITDA Ratio | 7.55 | 9.44 | 9.57 | 8.18 | 5.29 | 9.76 |
| EV/EBIT Ratio | 10.84 | 15.25 | 15.09 | 11.91 | 6.74 | 16.78 |
| EV/FCF Ratio | 17.82 | 18.26 | 26.01 | 6.92 | ||
| Debt / Equity Ratio | 2.68 | 3.07 | 2.83 | 1.92 | 1.82 | 2.98 |
| Debt / EBITDA Ratio | 3.59 | 4.55 | 4.50 | 3.67 | 2.58 | 5.23 |
| Debt / FCF Ratio | 10.07 | 10.74 | 13.93 | 3.84 | ||
| Net Debt / Equity Ratio | 2.65 | 3.06 | 2.82 | 1.90 | 1.81 | 2.96 |
| Net Debt / EBITDA Ratio | 4.22 | 5.52 | 5.28 | 4.32 | 2.92 | 6.39 |
| Net Debt / FCF Ratio | 9.95 | 10.68 | -7.04 | 13.75 | 3.83 | -30.32 |
| Asset Turnover | 5.50 | 4.86 | 4.75 | 4.99 | 6.30 | 4.93 |
| Inventory Turnover | 37.65 | 30.52 | 32.40 | 32.10 | 32.96 | 27.94 |
| Quick Ratio | 0.61 | 0.51 | 0.49 | 0.59 | 0.50 | 0.50 |
| Current Ratio | 1.19 | 1.14 | 1.21 | 1.12 | 1.20 | 1.27 |
| Return on Equity (ROE) | 27.21% | 14.08% | 14.20% | 19.19% | 55.04% | 11.88% |
| Return on Assets (ROA) | 5.25% | 3.79% | 4.18% | 4.56% | 7.99% | 3.31% |
| Return on Invested Capital (ROIC) | 11.21% | 8.37% | 9.19% | 10.10% | 17.01% | 6.84% |
| Return on Capital Employed (ROCE) | 11.60% | 8.30% | 8.70% | 9.80% | 17.50% | 7.10% |
| Earnings Yield | 10.61% | 5.60% | 5.88% | 9.92% | 30.08% | 7.18% |
| FCF Yield | 12.71% | 13.66% | -18.27% | 7.68% | 31.62% | -6.46% |
| Dividend Yield | 6.78% | 7.18% | 6.22% | 6.40% | 7.07% | 9.84% |
| Payout Ratio | 63.23% | 159.86% | 131.68% | 101.49% | 28.29% | 160.66% |
| Buyback Yield / Dilution | 0.33% | 0.36% | -0.88% | 0.01% | 0.68% | 0.09% |
| Total Shareholder Return | 7.11% | 7.53% | 5.34% | 6.42% | 7.76% | 9.93% |