XNYSGLPpB
Market cap1.64bUSD
Dec 26, Last price
26.14USD
1D
-0.02%
1Q
0.80%
IPO
2.51%
Name
Global Partners LP
Profile
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.
Valuation
Title USD in thousands, except ratios and share amounts | FY | FY | FY | FY | FY | FY | FY | FY | FY | FY |
---|---|---|---|---|---|---|---|---|---|---|
2023‑12 | 2022‑12 | 2021‑12 | 2020‑12 | 2019‑12 | 2018‑12 | 2017‑12 | 2016‑12 | 2015‑12 | 2014‑12 | |
Income | ||||||||||
Revenues | 16,492,174 -12.64% | 18,877,886 42.49% | 13,248,277 59.20% | |||||||
Cost of revenue | 15,978,342 | 17,780,237 | 12,529,014 | |||||||
Unusual Expense (Income) | ||||||||||
NOPBT | 513,832 | 1,097,649 | 719,263 | |||||||
NOPBT Margin | 3.12% | 5.81% | 5.43% | |||||||
Operating Taxes | 8,136 | 16,822 | 1,336 | |||||||
Tax Rate | 1.58% | 1.53% | 0.19% | |||||||
NOPAT | 505,696 | 1,080,827 | 717,927 | |||||||
Net income | 152,506 -57.90% | 362,207 495.77% | 60,796 -40.52% | |||||||
Dividends | (144,720) | (100,455) | (91,919) | |||||||
Dividend yield | 10.05% | 8.49% | 11.42% | |||||||
Proceeds from repurchase of equity | (3,990) | (4,457) | 66,186 | |||||||
BB yield | 0.28% | 0.38% | -8.22% | |||||||
Debt | ||||||||||
Debt current | 76,744 | 218,319 | 267,052 | |||||||
Long-term debt | 1,860,024 | 1,651,356 | 1,740,356 | |||||||
Deferred revenue | 48,163 | |||||||||
Other long-term liabilities | 132,252 | 121,334 | 53,461 | |||||||
Net debt | 1,822,772 | 1,957,074 | 2,071,512 | |||||||
Cash flow | ||||||||||
Cash from operating activities | 512,441 | 479,996 | 50,218 | |||||||
CAPEX | (402,021) | (106,797) | (101,717) | |||||||
Cash from investing activities | (492,380) | (236,193) | (115,050) | |||||||
Cash from financing activities | (4,459) | (250,612) | 65,967 | |||||||
FCF | 374,855 | 1,067,056 | 613,560 | |||||||
Balance | ||||||||||
Cash | 19,642 | 4,040 | 10,849 | |||||||
Long term investments | 94,354 | (91,439) | (74,953) | |||||||
Excess cash | ||||||||||
Stockholders' equity | 800,660 | (43) | (5,752) | |||||||
Invested Capital | 2,557,371 | 2,298,394 | 1,635,562 | |||||||
ROIC | 20.83% | 54.95% | 44.87% | |||||||
ROCE | 20.23% | 46.42% | 32.48% | |||||||
EV | ||||||||||
Common stock shares outstanding | 34,039 | 34,044 | 34,278 | |||||||
Price | 42.31 21.69% | 34.77 48.02% | 23.49 41.34% | |||||||
Market cap | 1,440,190 21.67% | 1,183,710 47.01% | 805,190 41.21% | |||||||
EV | 3,404,571 | 3,280,721 | 3,014,285 | |||||||
EBITDA | 623,922 | 1,202,445 | 821,504 | |||||||
EV/EBITDA | 5.46 | 2.73 | 3.67 | |||||||
Interest | 85,631 | 81,259 | 80,086 | |||||||
Interest/NOPBT | 16.67% | 7.40% | 11.13% |