| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 88 | 10.7x | 17.8x | Top tier | |
Growth | 77 | 20.4% | 7.1% | Top tier | |
Quality | 58 | 11.2% | 4.5% | Around median | |
Safety | 26 | 6.9x | 2.6x | Bottom tier | |
Capital Return | 11 | — | 2.12% | Bottom tier | |
Momentum | 76 | -6.8% | 2.9% | Top tier | |
Sentiment | 79 | 1 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Global Partners LP operates through an integrated liquid energy platform that combines gasoline distribution, gas station and convenience store operations, wholesale trading, and commercial activities such as marine fuel bunkering. The GDSO segment’s portfolio comprised approximately 1,500 gas station and convenience store locations at the end of Q2 FY2026, in addition to 69 locations within the Spring Partners joint venture. The segment’s margin comes from gasoline distribution, store sales, prepared foods, diversified merchandise, and rental income, while the wholesale business benefits from gasoline and gasoline blendstocks, distillates, and other oils.
In Q2 FY2026, the company recorded revenue of $6.8 billion, gross profit of $328.9 million, and net income of $71.0 million; equivalent to a calculated gross margin of approximately 4.8% and a net income margin of approximately 1.0%. According to management’s comparison with the corresponding quarter, net income increased from $25.2 million, EBITDA rose from $95.7 million to $146.0 million, and adjusted EBITDA increased from $98.2 million to $148.2 million.
Total reported product margins across the segments reached $362.2 million in Q2 FY2026. The GDSO segment represented approximately 67.7% of this total, with a margin of $245.2 million, compared with approximately 29.4% for the wholesale business, with a margin of $106.5 million, and approximately 2.9% for the commercial segment, with a margin of $10.5 million. On a last-twelve-month basis within the latest 2026 data, revenue reached $28.9 billion, gross profit $1.2 billion, and net income $195.2 million, compared with revenue of $18.6 billion and net income of $98.0 million in FY2025.
Automated analysis for informational purposes only — not investment advice.
The consensus analyst price target is $46, which is also the highest and lowest target, with a consensus Sell rating; this target falls within the 52-week range of $39.58–$53.24, approximately 13.6% below the top of the range and approximately 16.2% above its bottom. No P/E ratio is available in the data, so GLP’s valuation here relies on a single analyst target with no estimate range and on improvements in net income and cash flow, balanced against inventory cost risks and higher expenses.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Improvement in gasoline margin was the most important factor, as gasoline distribution margin in the GDSO segment increased by $37.1 million to $175.0 million. Margin per gallon increased from $0.36 in the corresponding quarter to $0.50 in Q2 FY2026. The wholesale business also contributed by increasing its product margin to $106.5 million, while the commercial segment’s margin rose to $10.5 million. As a result, net income reached $71.0 million compared with $25.2 million in the corresponding period.
The board approved a cash distribution of $0.78 per unit for Q2 FY2026, equivalent to $3.12 on an annualized basis. Distributable cash flow reached $92.6 million, compared with $52.0 million in the corresponding period. The coverage ratio reached 2.25 times, or 2.19 times after accounting for preferred unit distributions. The distribution was paid on August 14, 2026, to unitholders of record on August 12, 2026.
The GDSO segment’s product margin reached approximately $245.2 million in Q2 FY2026, supported by a portfolio comprising approximately 1,500 gas stations and stores, excluding 69 locations within Spring Partners. The wholesale segment recorded a product margin of $106.5 million, including $78.4 million from gasoline and gasoline blendstocks. The commercial segment recorded $10.5 million, supported by the marine fuel bunkering business. Accordingly, GDSO accounted for approximately two-thirds of the total reported product margins across the segments.
On August 7, 2026, management cited volatility in refined product markets and higher inventory risks due to geopolitical developments and tight inventory levels. It also expected the steep backwardation to increase the carrying cost of hedged inventory in subsequent periods. The margin from distillates and other oils declined by $4.8 million to $28.1 million because of weak conditions in residual fuel oil. In addition, selling, general, and administrative expenses increased to $83.0 million through higher wages and benefits, incentive compensation, and other expenses.
Global Partners redeemed all outstanding Series B preferred units on July 30, 2026. These units carried a fixed yield of 9.5%, and management said the redemption is accretive to returns and simplifies the capital structure. The decision followed the generation of significant excess cash flow since the beginning of FY2026, with unused capacity available under its credit facilities. Leverage stood at 2.85 times on June 30, 2026, while $174.6 million was drawn under the working capital facility and $103.5 million under the revolving facility.
The available analyst consensus is Sell, with an average price target of $46, which is also the highest and lowest target. This target lies between the bottom of the 52-week range of $39.58 and its top of $53.24, and the data does not provide a P/E ratio that could be used as an additional anchor. In contrast, insiders recorded 11 purchases and no sales over three months, for net purchases of $2.6 million. The latest recorded insider transaction was on June 18, 2026, providing a positive internal signal that does not negate the Sell consensus or the operational risks.
