Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026
Basics
Sector
Energy
Industry
Oil & Gas Midstream
Country
United States
Market cap
1.5B USD
Enterprise value
3.6B USD
Full-time employees
3,265
Overall health
Strength:growing faster than most peersgrowing faster than peers
Strength:its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback:less profitable than most peersless profitable than peers
Drawback:higher risk than most peers: its share price swings more than most peers’ (beta 1.11 vs a peer median of 0.57) and more debt relative to equity (2.68× vs a peer median of 0.47×)higher risk: bigger price swings (beta 1.11 vs peers 0.57) and more debt vs equity (2.68× vs peers 0.47×)
Stock pay outran buybacks. Stock-based pay expense $40M vs $28M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Global Partners LP recorded $40M of stock-based pay expense and spent $28M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Global Partners LP recorded $40M of stock-based pay expense and spent $28M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Much more borrowing than peers.Debt is 2.7× equity vs a peer median of 0.5×.Debt is 2.7× equity vs peers 0.5×.
Debt is 2.7× shareholders' equity, against a peer median of 0.5×, among the highest 10% of its peer group.Debt is 2.7× shareholders' equity, vs peers 0.5×, among the highest 10% of its peer group.
Profit below an unusually strong 2022.Since 2022 (an unusually strong year for operating profit): revenue −1.7%, operating profit −49%.Since 2022: revenue −1.7%, operating profit −49%.
Since 2022, Global Partners LP's revenue changed −1.7% while operating profit fell 49%: costs rose faster than sales.
Profit is backed by cash. Free cash flow is 102% of reported profit.
Global Partners LP's free cash flow is 102% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -6.98Sector median: 0.4659 · MAD: 0.3175
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Global Partners LP
Is Global Partners LP getting weaker?
Its latest SEC filing (Aug 7, 2026) showed no major changes. Its overall score is unchanged at 49/100 since Oct 28, 2026.
How is Global Partners LP valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 73/100 against 404 energy peers.Earnings yield 12.8% vs a peer median of 5.2% (stronger than 86% of peers).Earnings yield 12.8% vs peers 5.2% (stronger than 86% of peers).
Is Global Partners LP growing?
Yes, faster than most of its peers. Growth scores 85/100 against 404 energy peers.Revenue growth 20.4% vs a peer median of 0.5% (stronger than 84% of peers).Revenue growth 20.4% vs peers 0.5% (stronger than 84% of peers).
How profitable is Global Partners LP?
Less profitable than most of its peers. Profitability scores 35/100 against 404 energy peers.Operating margin 1.5% vs a peer median of 11.7% (weaker than 85% of peers).Operating margin 1.5% vs peers 11.7% (weaker than 85% of peers).
How risky is Global Partners LP?
Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings.Debt / equity 2.68× vs a peer median of 0.47× (weaker than 92% of peers).Debt / equity 2.68× vs peers 0.47× (weaker than 92% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Previous quarter
Latest quarter
Change
Revenue (12 months)
19.3B USD
21.5B USD
+11.2%
Net income (12 months)
149.4M USD
195.2M USD
+30.6%
Operating margin
1.5%
1.5%
+0.1 pts
Free cash flow (12 months)
126.3M USD
199.4M USD
+58.0%
Cash
18.4M USD
23.9M USD
+30.2%
Shares outstanding
34.0M
34.0M
0.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Industry: Oil & Gas Midstream · 32 companies
Valuations in Oil & Gas Midstream are near the top of their range since Aug 2019.
86% of months since Aug 2019 were valued lower than now.
54% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +44% and earnings +16% (medians): prices rose faster than earnings.
Median price-to-sales is +39% vs the whole market, against a usual +3%.
Aug 2019Shaded: most expensive fifth of its range2026
Global Partners LP looks cheaper than most of its peers on our valuation measures, while the Oil & Gas Midstream industry as a whole is valued high by its own standards since Aug 2019. Both can be true at once.
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Aug 2019; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
5.4%
5.8%
5.9%
6.2%
5.7%
▼ 0.4 pts
Operating margin
1.1%
2.4%
1.5%
1.5%
1.3%
▼ 0.2 pts
Net margin
0.5%
1.9%
0.9%
0.6%
0.5%
▼ 0.1 pts
Return on assets (ROA)
2.1%
11.5%
4.4%
2.9%
2.5%
▼ 0.4 pts
Free cash flow margin
-0.4%
2.0%
2.6%
-0.4%
1.0%
▲ 1.5 pts
Current ratio
1.27×
1.20×
1.12×
1.21×
1.14×
▼ 5.5%
Quick ratio
0.66×
0.62×
0.71×
0.61×
0.63×
▲ 2.8%
GLP price history
Price history is added with the daily price update and will appear after the next one.