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Global Partners LP

GLP Energy Oil & Gas Midstream

Global Partners LP’s revenue for fiscal 2025 (year ended December 2025) was $18.6 billion, up 8.14% from fiscal 2024.

Revenue
+42.4%
EPS
+240.0%
Free cash flow
+88,590.4%
Total debt
−94.2%

Quarter to September 2026, against a year earlier

43.84 2.17 +5.21%
Market cap
$1.4B
P/E
8.9×
Fwd P/E
7.9×
Dividend yield
6.98%
F-score
5/9
Altman Z
n/a
Beneish M
−2.53
Dividend safety
26/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 8.71
Sold, $m 1.52
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 5 — — — — 4 5 — — 2 — —
Sell — — — 6 — — — — — — — —
Insider Ownership 15.00%

Capital & Financial Ratios $m

Size
Market Cap 1,420.00
Revenue ttm 23,446.16
Net income ttm 218.54
Free cash flow ttm 346.00
Net debt Q 84.90
Valuation
P/E 8.89
Forward P/E 7.88
Price / sales 0.06
Forward P/S Powerpack
Price / FCF 4.30
Price / book 2.20
Financial health
Current ratio Q 1.09
Debt / equity Q 0.15 (at or below 0.5: strong)
Interest coverage Q 2.66
Growth
Revenue growth Q +42.39% (above 0%: growing)
Operating income growth Q +36.24% (above 0%: growing)
EPS, this year +185.31% (at or above 15%: strong)
EPS, next year A −36.71% (below 0%: weak)
Revenue, next year A +47.70% (at or above 10%: strong)
EPS, past 5 yrs −5.09% (below 0%: weak)
EPS, next 5 yrs A +26.55% (at or above 15%: strong)

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 0.1×, against a ten-year median of 0.2×; over the ten years it ranged from 0.1× in 2022 to 0.3× in 2017.
P/E against its own 10 years 36.53%
10-year low 10-year high
P/S against its own 10 years 44.90%
10-year low 10-year high
P/B against its own 10 years 69.90%
10-year low 10-year high
EV/Sales against its own 10 years 15.80%
10-year low 10-year high
EV/FCF against its own 10 years 32.80%
10-year low 10-year high

Dividends

Yield
6.98%
Annual rate
3.06
Payout ratio
62.3%
Growth, 2017–25
+6.18%/yr
  1. 1.85 ’17
  2. 1.88 ’18 +1
  3. 2.05 ’19 +9
  4. 2.27 ’20 +11
  5. 2.88 ’21 +27
  6. 2.41 ’22 −16
  7. 3.26 ’23 +35
  8. 2.86 ’24 −12
  9. 2.99 ’25 +5
  10. 3.03 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 20 8 12 22
Receivables 560 479 533 852
Inventory 397 594 549 610
Other 30 34 35 32
1,098 1,207 1,227 1,592
2023 2024 2025 Q'26
Payables 649 510 573 924
ST’ Debt 22 137 133 106
Other 72 73 88 —
983 1,000 1,076 1,463

Compound Annual Growth %

10y 5y 3y
Sales 6.05% 17.40% (0.56%)
Cash Flow 16.38% (1.84%) (15.97%)
Earnings 7.22% (5.18%) (40.44%)
Book Value (0.27%) 6.40% (5.02%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.24 Actual 1.86

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.09 0.66 Miss by 0.43
Q4 FY25 0.60 0.54 Miss by 0.06
Q1 FY26 0.33 1.85 Beat by 1.52
Q2 FY26 1.24 1.86 Beat by 0.62
Q3 FY26 1.61 — Reports 6 November 2026

EPS $

Mar Jun Sep Dec Year
’26 1.85 1.86 — — —
’25 0.36 0.55 0.66 0.54 2.11
’24 (0.37) 1.10 1.17 0.52 2.41
’23 0.70 1.05 0.60 1.41 3.76
’22 0.76 4.61 3.12 1.54 10.02
’21 (0.20) 0.23 0.86 0.44 1.31
’20 0.05 2.17 0.47 0.06 2.74
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 5,322 6,792 6,684 — —
’25 4,592 4,627 4,694 4,648 18,561
’24 4,145 4,410 4,422 4,186 17,164
’23 4,030 3,832 4,221 4,409 16,492
’22 4,501 5,324 4,627 4,427 18,878
’21 2,553 3,279 3,324 4,092 13,248
’20 2,595 1,470 2,061 2,196 8,322
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (105) 309 180 — —
’25 (52) 216 19 101 285
’24 (183) 24 123 67 32
’23 (19) 265 97 169 512
’22 23 363 192 (97) 480
’21 (106) 52 153 (49) 50
’20 138 24 88 62 313
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (131) 275 138 — —
’25 (66) 202 0 64 200
’24 (185) 13 126 23 (23)
’23 (28) 244 84 136 436
’22 31 437 170 (136) 502
’21 (120) 31 126 (82) (45)
’20 127 19 70 28 244
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
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 8,240 8,921 12,673 13,082 8,322 13,248 18,878 16,492 17,164 18,561 23,446 +9.4% 27,416 33,890 36,521 +25.3%
Gross margin, % 6.63 6.54 5.13 5.07 8.67 5.43 5.81 5.90 6.16 5.72 5.20 (0.9) pt
EBT (239) 34 108 36 102 62 379 161 115 99 226 n/m
EBT margin, % (2.90) 0.38 0.85 0.28 1.22 0.47 2.01 0.97 0.67 0.53 0.96 +3.4 pt
Net income (239) 57 102 35 102 61 362 153 110 98 219 n/m
Per share, $
Per share, $ Revenue 245.78 265.58 376.03 386.92 245.42 390.32 556.30 485.49 507.20 548.00 0.00 +9.3%
Earnings (5.91) 1.74 2.97 0.82 2.77 1.33 10.06 3.77 2.45 2.13 4.93 n/m
Cash flow (3.58) 10.37 5.01 2.79 9.22 1.48 14.14 15.09 0.93 8.41 0.00 n/m
Capex 0.19 (0.51) (1.51) (1.95) (2.01) (2.81) 0.64 (2.24) (1.62) (2.51) 0.00 n/m
Free cash flow (3.38) 9.87 3.50 0.85 7.21 (1.33) 14.78 12.85 (0.68) 5.90 0.00 n/m
Book value 11.87 11.74 14.81 13.58 14.61 15.55 23.23 23.57 21.18 19.94 0.00 +5.9%
Shares, m 34 34 34 34 34 34 34 34 34 34 34 +0.1%
Valuation, ×
Valuation, × P/E 0.00 10.17 5.47 24.59 5.98 17.66 3.40 10.93 19.00 19.74 8.89 11.7
P/S 0.08 0.07 0.04 0.05 0.07 0.06 0.06 0.08 0.09 0.08 0.06 0.1
P/B 1.71 1.51 1.27 1.74 1.32 2.05 1.79 2.12 2.44 2.35 2.20 1.8
EV/Sales 0.27 0.21 0.15 0.16 0.22 0.16 0.13 0.17 0.20 0.17 0.14 0.2
EV/FCF (19.29) 5.65 16.02 72.88 7.36 (47.02) 4.70 6.26 (146.69) 15.97 9.31 (8.4)
Cash, $m
Cash, $m Operating cash flow (120) 348 169 94 313 50 480 512 32 285 486 n/m
Capex 6 (17) (51) (66) (68) (95) 22 (76) (55) (85) (140) n/m
Free cash flow (113) 331 118 29 244 (45) 502 436 (23) 200 346 n/m
Balance, $m
Balance, $m Working capital 276 209 292 251 284 225 198 115 207 151 129 (6.5%)
Net debt 1,506 1,278 1,343 1,402 1,234 1,324 1,200 1,335 1,809 1,775 85 +1.8%
Shareholders’ equity 398 394 499 459 495 528 788 801 717 676 695 +6.1%
Returns, %
Returns, % ROA (7.58) 2.39 4.22 1.06 3.52 1.68 11.39 3.88 2.29 1.89 0.00 +9.5 pt
ROIC (5.00) 4.48 6.69 4.67 6.95 4.80 14.47 7.14 6.22 5.99 28.37 +11.0 pt
ROE (36.28) 14.73 24.25 6.74 22.94 11.02 65.80 19.55 12.68 11.56 25.90 +47.8 pt
People
People Employees 1,770 2,000 2,500 3,860 3,540 3,490 4,310 5,060 4,840 4,700 — +11.5%
Revenue/emp, $m 4.66 4.46 5.07 3.39 2.35 3.80 4.38 3.26 3.55 3.95 — (1.8%)
Negative figures in brackets.
estimates

All 10 years →

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

Global Partners LP vs peers in Oil & Gas Midstream (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
NGL NGL Energy Partners LP $1.8B — (loss-making) 11.9× +59.12% (above 0%: growing) +1,100.00% (above 0%: growing) −386.50% (below 0%: shrinking) 30.87% 14.68% Compare
GEL Genesis Energy, L.P. $1.5B 67.7× — (loss-making) +40.98% (above 0%: growing) n/m +2,417.50% (above 0%: growing) 32.06% 19.82% Compare
GLP Global Partners LP $1.4B 8.9× 7.9× +42.39% (above 0%: growing) +240.00% (above 0%: growing) +88,590.38% (above 0%: growing) 4.43% 1.25%
FLNG Flex LNG Ltd. $1.4B 13.7× 12.1× +24.21% (above 0%: growing) +151.52% (above 0%: growing) +185.57% (above 0%: growing) 76.00% 55.68% Compare
NAT Nordic American Tankers Limited $1.4B 11.4× 10.1× +133.96% (above 0%: growing) n/m +197.49% (above 0%: growing) 83.25% 82.06% Compare
PBT Permian Basin Royalty Trust $1.3B 82.9× 21.9× +34.59% (above 0%: growing) +60.00% (above 0%: growing) — 100.00% 92.68% Compare
TEN Tsakos Energy Navigation Ltd $1.3B 4.6× 3.9× +54.37% (above 0%: growing) +556.72% (above 0%: growing) +185.92% (above 0%: growing) 62.31% 54.53% Compare
NVGS Navigator Holdings Ltd. $1.2B 6.7× 6.9× +1.27% (above 0%: growing) +160.38% (above 0%: growing) +285.64% (above 0%: growing) 49.79% 23.29% Compare
TK Teekay Corporation Ltd. $1.1B 8.7× 41.1× −24.36% (below 0%: shrinking) −23.68% (below 0%: shrinking) +211.73% (above 0%: growing) 31.43% 27.41% Compare
Median of peers $1.4B 11.4× 11.9× +37.79% +155.95% +197.49% 56.05% 40.97%

All 57 Oil & Gas Midstream stocks →

Global Partners LP (GLP) Latest News

6 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · Business Wire

23 Oct

Impact 3 · · Business Wire

20 Oct

Impact 4 · · Zacks
Impact 3 · · Zacks

9 Oct

Impact 4 · · Simply Wall St.

8 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

23 Sep

Impact 3 · · Simply Wall St.

19 Aug

Impact 3 ·

18 Aug

Impact 3 ·

8 Aug

Impact 3 · · MarketBeat

7 Aug

Impact 4 ·
Impact 3 · · Moby transcript
Impact 3 ·

18 May

Impact 3 · · cstoredive.com

13 May

Impact 4 · · Simply Wall St.
Impact 3 · · Zacks

10 May

Impact 3 · · MarketBeat

8 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · InvestorsHub
Impact 3 · · Moby
Impact 3 · · Business Wire

13 Apr

Impact 4 · · Insider Monkey

31 Mar

Impact 3 ·

13 Mar

Impact 4 · · The Motley Fool

9 Mar

Impact 3 · · Zacks

2 Mar

Impact 3 · · Simply Wall St.

28 Feb

Impact 4 · · MarketBeat
stockrow.com/GLP · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com