Global Partners LP
$48.45
+0.94%Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states, Mid-Atlantic region, and New York. The company is also involved in the transportation of petroleum products and renewable fuels through rail from the mid-continent region of the United States and Canada. Its Wholesale segment sells home heating oil, branded and unbranded gasoline and gasoline blendstocks, diesel, kerosene, residual oil, and propane to home heating oil retailers and wholesale distributors. It also aggregates crude oil through truck or pipeline in the mid-continent region of the United States and Canada, as well as transports it through rail and ships it through barge to refiners. The company's Gasoline Distribution and Station Operations segment sells branded and unbranded gasoline to gasoline station operators and sub-jobbers; operates gasoline stations and convenience stores; and provides car wash, lottery, and ATM services, as well as leases gasoline stations. Its Commercial segment sells and delivers unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel to customers in the public sector, as well as to commercial and industrial end-users; and sells custom blended fuels. As of December 31, 2021, the company had a portfolio of 1,595 owned, leased, and supplied gasoline stations, which included 295 directly operated convenience stores; and owned, leased, or maintained storage facilities at 26 bulk terminals with a collective storage capacity of 11.9 million barrels. Global GP LLC serves as the general partner of the company. The company was incorporated in 2005 and is based in Waltham, Massachusetts.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 22.8).
Valuation inputs: P/E 22.8, earnings yield +4.4%, momentum +0.9%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is acceptable (ROE +11.7%, ROIC +6.6%).
Profitability stack: net margin +0.4%, ROE +11.7%, ROIC +6.6%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceDownside profile is elevated and scenario stress-testing is essential.
Risk factors: liabilities/assets +82.5%, momentum +0.9%, net margin +0.4%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Global Partners LP Market vs Earnings Trajectory
Loading price and EPS data...
Global Partners LP Fair Value Envelope
Global Partners LP Profit Bridge
Profitability Analysis
Gross Margin
Thin margins leave little room for error. Cost management and pricing strategy are critical.
Operating Margin
Minimal operating profit suggests high operating costs or pricing challenges. Scalability is concerning.
Net Profit Margin
Minimal profitability after all expenses. Limited financial flexibility for reinvestment or shareholder returns.
Effective Tax Rate
Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.
Profitability Insight
Efficient profit conversion: Minimal margin compression from gross to net indicates lean operations and favorable tax/interest environment.
Global Partners LP Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Moderate capital requirements typical of many stable businesses. Healthy balance between reinvestment and cash generation.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
Global Partners LP Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Acceptable liquidity, but monitor closely. Current assets just barely cover current liabilities.
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Positive working capital, but relatively tight. The company should monitor cash flow carefully.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
Global Partners LP Street Expectations Map
Wall Street analysts project that GLP stock may see slight declines over the coming 12 months. The consensus 1-year price target stands at 46.00, with estimates ranging from a low of 46.00 to a high of 46.00.
The consensus 1-year price target stands at 46.00, with estimates ranging from a low of 46.00 to a high of 46.00.
Analyst Consensus Analysis
Upside Potential
Downside risk. Current price above analyst targets indicates potential overvaluation. Exercise caution and review catalysts.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Risk-Reward Profile
Balanced risk-reward. Upside and downside potential relatively symmetric. Suitable for moderate risk tolerance with conviction in thesis.
Analyst Conviction
Bearish or uncertain outlook. Limited upside or poor consensus suggests challenges ahead or fundamental concerns.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
Global Partners LP Insider Positioning
During the last 12 months, insiders have purchased $10.67M and sold $3.38M worth of GLP shares, resulting in $7.29M of net buying activity.
3 Months
69.2K
3.42M
32.0K
1.52M
+1.9M
+$1.90M
3-6 Months
16.8K
722.93K
0
0.00
+723K
+$723K
6-9 Months
64.0K
2.91M
9.0K
462.96K
+2.4M
+$2.45M
9-12 Months
70.0K
3.62M
27.0K
1.40M
+2.2M
+$2.23M
Top Buyers
Global Gp Llc
Other: General Partner
$10.67M
Top Sellers
Romaine Mark
Officer: Chief Operating Officer
$3.38M
Insider Activity Analysis
Net Insider Sentiment
Strong bullish signal with $7.29M net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.
Buy/Sell Ratio
Exceptional buy/sell ratio. Buying dramatically outweighs selling—one of the strongest possible insider signals.
Recent Trend (3 Months)
Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.
Insider Participation
1 insider buyers and 1 sellers. Equal participation suggests mixed or neutral insider views.
Insider Activity Insight
Sustained buying momentum: Consistent net buying over multiple quarters suggests insiders maintain conviction in the company's prospects. This is particularly meaningful if buying continued through market volatility.
glp Dividend History
Learning Layer
Related Guides
Build conviction on GLP by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.