MeritValue

GLOBAL PARTNERS LP

GLPdata completeness 63%17 fiscal years on file

Data notes: no data for concept 'totalDebt'; no data for concept 'stockholdersEquity'; no data for concept 'epsDiluted'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$7.58B1$11.1B2$9.75B3$8.69B3$8.71B3
Net income$60.8M4$362.2M5$152.5M6$110.3M6$98M6
Operating cash flow$50.2M7$480M8$512.4M9$31.6M9$284.8M9
Capital expenditure$101.7M10$106.8M11$88.8M12$103.3M12$91.5M12
Free cash flow (derived)−$51.5M7$373.2M8$423.6M9−$71.7M9$193.3M9
Total debt—————
Cash & equivalents$10.8M13$4.04M14$19.6M14$8.21M14$12.2M14
Diluted shares—————

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

iii. Is this a good business?
Moat signal · return on equity
— avg · 5y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
— shares · 5y

Not enough history to read capital allocation.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
no diluted share count — cannot compute per-share value
DCF · Growth Exit 5Y
not applicable
no diluted share count — cannot compute per-share value
Earnings Power Value
not applicable
no diluted share count
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001558370-24-002047 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001558370-25-001925 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001104659-26-021381 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001558370-24-002047 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001558370-25-001925 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001104659-26-021381 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001558370-24-002047 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001558370-25-001925 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001104659-26-021381 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001558370-24-002047 (PaymentsToAcquireProductiveAssets)
  11. 10-K · period ending 2022-12-31 · accession 0001558370-25-001925 (PaymentsToAcquireProductiveAssets)
  12. 10-K · period ending 2023-12-31 · accession 0001104659-26-021381 (PaymentsToAcquireProductiveAssets)
  13. 10-K · period ending 2021-12-31 · accession 0001558370-25-001925 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
  14. 10-K · period ending 2022-12-31 · accession 0001104659-26-021381 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)