Global Partners LP (GLP) stock analysis
Close on Nov 11, 2026Market cap $1.50BP/E –Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid16 of 30 checks passed
Global Partners LP passes 16 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 2/6
- Past performance
- 2/6
- Financial health
- 6/6
- Dividend
- 3/6
What stands out
Margin of safety over 20%
The price is 58.0% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $44.27 is below our fair value estimate of $105.37.
No debt
Global Partners LP has no borrowings on its latest balance sheet.
Earnings growth accelerating
Net income grew 126% over the last twelve months, against a 5-year average of -0.8% a year.
What to watch
Earnings shrank over 5 years
Net income shrank 0.8% a year on average over the last five fiscal years.
Revenue growing under 10% a year
Revenue grew -0.6% a year over the last three fiscal years, short of the 10% we look for.
Gross margin slipping
Gross margin was 5.2% over the last twelve months, against 5.9% a year earlier.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E against the industry
Needs positive earnings and enough profitable companies in the industry.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/S below the industry
Global Partners LP's price-to-sales of 0.06 is below the Wholesale Trade-non-durable Goods median of 0.33 (book value is negative, so we use sales).
Trading below fair value
The share price of $44.27 is below our fair value estimate of $105.37.
Margin of safety over 20%
The price is 58.0% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growing under 10% a year
Revenue grew -0.6% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth accelerating
Net income grew 126% over the last twelve months, against a 5-year average of -0.8% a year.
Growing faster than the industry
Revenue grew 29.5% over the last twelve months; the Wholesale Trade-non-durable Goods median is 11.1%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin slipping
Gross margin was 5.2% over the last twelve months, against 5.9% a year earlier.
Past performance2/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity against the industry
Needs positive equity.
Earnings shrank over 5 years
Net income shrank 0.8% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 0.9% over the last twelve months, against a 5-year average of 0.9%.
Net margin above the industry
Global Partners LP's net margin of 0.9% is above the Wholesale Trade-non-durable Goods median of -0.1%.
Financial health6/6
No debt
Global Partners LP has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 1.09 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 6.19; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Global Partners LP paid dividends worth 5.2% of the share price over the last twelve months.
Yield above Treasuries
The 5.2% yield is above the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; Global Partners LP yields 5.2%.
Dividend stability
Fewer than five years of dividend history.
Earnings cover
Needs dividends paid and net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$105.37
The share price is 58% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| EV/EBITDA | 11.8× | – | 11.8× | $123.82 | 70% |
| Earnings power | 8.6% cost of equity | – | – | $62.31 | 30% |
| Fair value | $105.37 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $3.55M
- Value traded per 1% price move
- $1.82M
Downside
Low risk
- Typical loss in a bad month
- 13.6%
- Volatility (annualized)
- 32%
- Sharpe ratio, 1 year
- 0.14
- Beta to the S&P 500 (5Y)
- 0.74
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.1% | -0.6% | +17.4% | +6.1% | |
| Gross profit | +0.4% | -1.1% | +8.1% | +5.9% | |
| Operating income | -6.6% | -20.1% | +4.1% | +7.4% | |
| Net income | -11.2% | -35.3% | -0.8% | +8.4% | |
| Free cash flow | – | -19.7% | -3.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on assets | -7.6% | 3.8% | 2.6% | |
| Current ratio | 1.35 | 1.57 | 1.14 | |
| Inventory turnover | 16.9× | 18.2× | 30.6× | |
| Capex to revenue | 0.9% | 0.9% | 0.5% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Global Partners LP generated $1.36B from operations and spent $526.49M on capital expenditure, dividends and share buybacks. 93% of that went back into the business.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$97.98M
- Cash generatingOperating cash flow above zero$284.80M
- Return on assets improvedROA up on the prior year3.2% → 2.6%
- Earnings backed by cashOperating cash flow above net income$284.80M vs $97.98M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.21 → 1.14
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year6.16% → 5.72%
- More efficientAsset turnover rose4.98 → 4.90
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