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CrossAmerica Partners LP

CAPL Energy Oil & Gas Refining & Marketing

CrossAmerica Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $3.7 billion, down 10.6% from fiscal 2024.

Revenue
+22.9%
EPS
−32.4%
Free cash flow
−30.0%
Total debt
+2.57%

Quarter to September 2026, against a year earlier

19.85 0.14 +0.71%
Market cap
$752.4M
P/E
15.6×
Fwd P/E
16.3×
Dividend yield
10.6%
F-score
6/9
Altman Z
n/a
Beneish M
−2.91
Dividend safety
32/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 53.39%

Capital & Financial Ratios $m

Size
Market Cap 752.39
Revenue ttm 4,081.71
Net income ttm 50.43
Free cash flow ttm 125.91
Net debt Q 714.48
Valuation
P/E 15.63
Forward P/E 16.30
Price / sales 0.19
Forward P/S Powerpack
Price / FCF 6.02
Price / book 0.00
Financial health
Current ratio Q 0.78 (below 1: weak)
Debt / equity Q (6.25) (negative: negative equity)
Interest coverage Q 1.95
Growth
Revenue growth Q +22.92% (above 0%: growing)
Operating income growth Q −15.58% (below 0%: shrinking)
EPS, this year +19.61% (at or above 15%: strong)
EPS, next year A −5.74% (below 0%: weak)
Revenue, next year A +10.50% (at or above 10%: strong)
EPS, past 5 yrs −18.69% (below 0%: weak)
EPS, next 5 yrs A +9.79%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.4×, against a ten-year median of 0.5×; over the ten years it ranged from 0.3× in 2022 to 0.7× in 2016.
P/E against its own 10 years 22.03%
10-year low 10-year high
P/S against its own 10 years 17.49%
10-year low 10-year high
EV/Sales against its own 10 years 14.00%
10-year low 10-year high
EV/FCF against its own 10 years 21.92%
10-year low 10-year high

Dividends

Yield
10.6%
Annual rate
2.10
Payout ratio
166.8%
Growth, 2018–26
−0.59%/yr
  1. 2.20 ’18
  2. 2.10 ’19 −5
  3. 2.10 ’20 +0
  4. 2.10 ’21 +0
  5. 2.10 ’22 +0
  6. 2.10 ’23 +0
  7. 2.10 ’24 +0
  8. 2.10 ’25 +0
  9. 2.10 ’26 +0
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5 3 3 8
Receivables 32 32 29 32
Inventory 52 63 60 71
Other 20 20 19 21
109 119 111 133
2023 2024 2025 Q'26
Payables 79 82 70 89
ST’ Debt 3 3 3 10
Other — — 1 0
161 163 155 169

Compound Annual Growth %

10y 5y 3y
Sales 5.10% 13.64% (9.66%)
Cash Flow 3.56% (2.62%) (17.22%)
Earnings 14.55% (18.28%) (14.22%)
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.42 Actual 0.21

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.05 0.16 Beat by 0.11
Q1 FY26 −0.16 0.13 Beat by 0.29
Q2 FY26 0.38 0.50 Beat by 0.12
Q3 FY26 0.42 0.21 Miss by 0.21
Q4 FY26 0.17 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.26 0.52 0.23 — —
’25 (0.20) 0.64 0.34 0.25 1.02
’24 (0.48) 0.31 0.27 0.42 0.52
’23 (0.04) 0.36 0.31 0.42 1.05
’22 0.13 0.35 0.71 0.43 1.63
’21 (0.10) 0.13 0.23 0.32 0.57
’20 2.00 0.14 0.56 0.24 2.87
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 842 1,179 1,195 — —
’25 862 962 972 866 3,663
’24 942 1,133 1,079 944 4,098
’23 1,016 1,145 1,210 1,015 4,386
’22 1,093 1,475 1,274 1,125 4,967
’21 657 859 985 1,078 3,579
’20 392 398 591 551 1,932
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 28 33 24 — —
’25 15 23 24 29 91
’24 6 29 42 11 88
’23 12 36 32 38 117
’22 28 26 72 35 161
’21 18 23 35 19 95
’20 18 44 25 18 104
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 37 29 28 — —
’25 14 75 40 32 160
’24 0 34 41 21 97
’23 6 34 22 26 89
’22 21 21 62 40 144
’21 8 17 30 14 69
’20 17 43 38 13 112
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,870 2,095 2,446 2,149 1,932 3,579 4,967 4,386 4,098 3,663 4,082 +7.8% 4,047 4,679 5,257 +12.8%
Gross margin, % 8.32 7.67 7.06 7.19 10.98 7.74 7.56 8.72 9.72 11.00 10.26 +2.7 pt
EBT 10 5 3 17 100 18 64 45 19 50 64 +19.3%
EBT margin, % 0.55 0.24 0.10 0.78 5.15 0.51 1.30 1.03 0.46 1.37 1.58 +0.8 pt
Net income 11 23 5 18 107 22 64 43 22 42 50 +16.3%
Per share, $
Per share, $ Revenue 56.13 61.89 71.22 62.39 51.71 94.49 131.01 115.56 107.77 96.13 106.94 +6.2%
Earnings 0.22 0.56 0.11 0.51 2.87 0.57 1.63 1.06 0.52 1.03 1.27 +18.7%
Cash flow 2.38 2.63 2.61 2.10 2.80 2.52 4.25 3.08 2.31 2.40 3.01 +0.1%
Capex (0.54) 0.45 (0.21) (0.48) 0.21 (0.70) (0.45) (0.75) 0.24 1.79 0.29 n/m
Free cash flow 1.84 3.07 2.41 1.62 3.00 1.82 3.81 2.34 2.55 4.19 3.30 +9.6%
Book value 6.63 5.05 3.23 2.28 2.93 1.49 1.40 0.08 (1.41) (2.69) (3.03) n/m
Shares, m 33 34 34 34 37 38 38 38 38 38 38 +1.5%
Valuation, ×
Valuation, × P/E 125.38 43.69 141.60 36.10 5.84 32.86 12.05 22.13 41.51 20.00 15.63 48.1
P/S 0.47 0.39 0.20 0.29 0.33 0.20 0.15 0.20 0.20 0.21 0.19 0.3
P/B 3.97 4.76 4.38 7.93 5.85 12.77 14.06 296.14 0.00 0.00 0.00 35.0
EV/Sales 0.72 0.64 0.41 0.54 0.61 0.43 0.30 0.37 0.39 0.40 0.36 0.5
EV/FCF 21.89 12.90 12.15 20.77 10.44 22.27 10.40 18.52 16.53 9.21 11.69 15.5
Cash, $m
Cash, $m Operating cash flow 79 89 90 72 104 95 161 117 88 91 115 +1.6%
Capex (18) 15 (7) (17) 8 (26) (17) (28) 9 68 11 n/m
Free cash flow 61 104 83 56 112 69 144 89 97 160 126 +11.2%
Balance, $m
Balance, $m Working capital (10) (13) (38) (43) (72) (58) (57) (53) (44) (44) (36) +18.3%
Net debt 466 528 516 536 527 814 757 752 764 688 714 +4.4%
Shareholders’ equity 221 171 111 78 110 57 53 3 (54) (102) (116) n/m
Returns, %
Returns, % ROA 0.82 2.00 0.40 1.97 11.15 1.90 4.90 3.29 1.73 3.76 4.83 +2.9 pt
ROIC 2.93 2.90 3.49 4.41 11.35 2.59 7.41 7.29 6.21 10.43 11.35 +7.5 pt
ROE 2.99 9.61 2.60 18.53 114.13 26.05 113.15 143.27 (78.36) (50.11) (45.97) (53.1) pt
People
People Employees 744 604 548 105 203 215 228 244 257 257 — (11.1%)
Revenue/emp, $m 2.51 3.47 4.46 20.47 9.52 16.65 21.79 17.98 15.95 14.25 — +21.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

CrossAmerica Partners LP vs peers in Oil & Gas Refining & Marketing (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DK Delek US Holdings, Inc. $3.8B 17.0× 5.8× +47.83% (above 0%: growing) +256.82% (above 0%: growing) +173.86% (above 0%: growing) 8.93% 7.40% Compare
IEP Icahn Enterprises L.P. $3.7B — (loss-making) 18.5× +16.37% (above 0%: growing) n/m +400.00% (above 0%: growing) 0.00% 0.00% Compare
PARR Par Pacific Holdings, Inc. $3.4B 3.5× 3.4× +51.64% (above 0%: growing) +38.16% (above 0%: growing) +328.39% (above 0%: growing) 23.43% 15.47% Compare
DKL Delek Logistics Partners, L.P. $3.0B 17.7× 16.1× +56.18% (above 0%: growing) −34.94% (below 0%: shrinking) +193.34% (above 0%: growing) 17.18% 16.09% Compare
WKC World Kinect Corporation $1.9B — (loss-making) 12.2× +41.30% (above 0%: growing) +60.87% (above 0%: growing) +61.18% (above 0%: growing) 2.17% 0.60% Compare
CAPL CrossAmerica Partners LP $752.4M 15.9× 16.3× +22.92% (above 0%: growing) −38.24% (below 0%: shrinking) −29.95% (below 0%: shrinking) 8.47% 1.98%
APC ARKO Petroleum Corp. $702.6M 15.2× 14.9× +30.86% (above 0%: growing) −2.27% (below 0%: shrinking) +24.55% (above 0%: growing) 0.00% 1.34% Compare
SGU Star Group, L.P. $431.5M 7.0× — +17.16% (above 0%: growing) n/m +68.47% (above 0%: growing) 24.40% (9.52%) Compare
CLNE Clean Energy Fuels Corp. $332.9M — (loss-making) — (loss-making) +5.69% (above 0%: growing) n/m +3,528.28% (above 0%: growing) 0.00% 0.86% Compare
Median of peers $2.4B 15.2× 13.6× +36.08% +38.16% +183.60% 5.55% 1.10%

All 19 Oil & Gas Refining & Marketing stocks →

CrossAmerica Partners LP (CAPL) Latest News

5 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · GuruFocus.com
Impact 3 · · Associated Press Finance

27 Oct

Impact 3 · · Zacks

23 Sep

Impact 4 · · Zacks

18 Aug

Impact 3 ·

17 Aug

Impact 3 ·

7 Aug

Impact 3 · · MarketBeat

5 Aug

Impact 3 ·

12 May

Impact 3 · · Zacks

9 May

Impact 3 · · MarketBeat

8 May

Impact 3 · · cstoredive.com

7 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

6 May

Impact 4 · · GlobeNewswire

5 May

Impact 3 · · Zacks

7 Mar

Impact 4 · · 24/7 Wall St.

3 Mar

Impact 4 · · retail-insight-network.com

2 Mar

Impact 4 · · GlobeNewswire
Impact 4 · · cstoredive.com

27 Feb

Impact 3 · · MarketBeat

25 Feb

Impact 4 · · GlobeNewswire
Impact 3 · · Associated Press Finance

21 Jan

Impact 3 · · GlobeNewswire

2 Jan

Impact 4 · · 24/7 Wall St.

11 Nov

Impact 3 · · ZacksZacksZacksZacksZacksZacksZacksZacks

6 Nov

Impact 3 · transcript

24 Oct

Impact 3 · · 24/7 Wall St.

22 Oct

Impact 3 · · GlobeNewswire

3 Sep

Impact 3 · · cstoredive.com
stockrow.com/CAPL · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com