GLOBAL PARTNERS LP (GLP) Stock Fundamental Analysis
NYSE:GLP - New York Stock Exchange, Inc. - US37946R1095 - Currency: USD
Taking everything into account, GLP scores 4 out of 10 in our fundamental rating. GLP was compared to 208 industry peers in the Oil, Gas & Consumable Fuels industry. There are concerns on the financial health of GLP while its profitability can be described as average. GLP has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
In the past year GLP was profitable.
GLP had a positive operating cash flow in the past year.
In the past 5 years GLP has always been profitable.
GLP had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of GLP (2.83%) is comparable to the rest of the industry.
GLP has a better Return On Equity (15.52%) than 74.52% of its industry peers.
GLP's Return On Invested Capital of 7.82% is fine compared to the rest of the industry. GLP outperforms 66.83% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GLP is significantly below the industry average of 23.63%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.83% | ||
| ROE | 15.52% | ||
| ROIC | 7.82% |
ROA(3y)5.56%
ROA(5y)4.4%
ROE(3y)23.6%
ROE(5y)19.66%
ROIC(3y)9.44%
ROIC(5y)8.29%
1.3 Margins
GLP has a Profit Margin of 0.61%. This is in the lower half of the industry: GLP underperforms 66.83% of its industry peers.
In the last couple of years the Profit Margin of GLP has grown nicely.
The Operating Margin of GLP (1.55%) is worse than 75.00% of its industry peers.
In the last couple of years the Operating Margin of GLP has grown nicely.
GLP's Gross Margin of 6.23% is on the low side compared to the rest of the industry. GLP is outperformed by 75.00% of its industry peers.
GLP's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 1.55% | ||
| PM (TTM) | 0.61% | ||
| GM | 6.23% |
OM growth 3Y9.6%
OM growth 5Y5.99%
PM growth 3Y12.39%
PM growth 5Y17.64%
GM growth 3Y4.33%
GM growth 5Y3.99%
2. Health
2.1 Basic Checks
GLP has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for GLP has been reduced compared to 1 year ago.
The number of shares outstanding for GLP has been reduced compared to 5 years ago.
GLP has a worse debt/assets ratio than last year.
2.2 Solvency
The Debt to FCF ratio of GLP is 31.69, which is on the high side as it means it would take GLP, 31.69 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 31.69, GLP is in line with its industry, outperforming 42.79% of the companies in the same industry.
A Debt/Equity ratio of 2.28 is on the high side and indicates that GLP has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 2.28, GLP is doing worse than 83.17% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.28 | ||
| Debt/FCF | 31.69 | ||
| Altman-Z | N/A |
ROIC/WACC0.88
WACC8.9%
2.3 Liquidity
GLP has a Current Ratio of 1.17. This is a normal value and indicates that GLP is financially healthy and should not expect problems in meeting its short term obligations.
GLP has a Current ratio of 1.17. This is comparable to the rest of the industry: GLP outperforms 52.40% of its industry peers.
A Quick Ratio of 0.68 indicates that GLP may have some problems paying its short term obligations.
With a Quick ratio value of 0.68, GLP is not doing good in the industry: 71.15% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 19.70% over the past year.
GLP shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.31% yearly.
GLP shows a small growth in Revenue. In the last year, the Revenue has grown by 6.04%.
Measured over the past years, GLP shows a small growth in Revenue. The Revenue has been growing by 5.58% on average per year.
EPS 1Y (TTM)19.7%
EPS 3Y23.25%
EPS 5Y16.31%
EPS Q2Q%197.3%
Revenue 1Y (TTM)6.04%
Revenue growth 3Y9.01%
Revenue growth 5Y5.58%
Sales Q2Q%10.78%
3.2 Future
GLP is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.65% yearly.
Based on estimates for the next years, GLP will show a quite strong growth in Revenue. The Revenue will grow by 16.78% on average per year.
EPS Next Y15.2%
EPS Next 2Y10.86%
EPS Next 3Y9.65%
EPS Next 5YN/A
Revenue Next Year25.4%
Revenue Next 2Y21.3%
Revenue Next 3Y16.78%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
GLP is valuated correctly with a Price/Earnings ratio of 15.61.
GLP's Price/Earnings is on the same level as the industry average.
GLP's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.54.
GLP is valuated correctly with a Price/Forward Earnings ratio of 16.42.
The rest of the industry has a similar Price/Forward Earnings ratio as GLP.
The average S&P500 Price/Forward Earnings ratio is at 35.28. GLP is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.61 | ||
| Fwd PE | 16.42 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as GLP.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of GLP is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 29.38 | ||
| EV/EBITDA | 8.52 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.03
PEG (5Y)0.96
EPS Next 2Y10.86%
EPS Next 3Y9.65%
5. Dividend
5.1 Amount
GLP has a Yearly Dividend Yield of 9.06%, which is a nice return.
Compared to an average industry Dividend Yield of 6.37, GLP pays a better dividend. On top of this GLP pays more dividend than 86.54% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, GLP pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.06% |
5.2 History
The dividend of GLP is nicely growing with an annual growth rate of 9.73%!
GLP has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)9.73%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
113.01% of the earnings are spent on dividend by GLP. This is not a sustainable payout ratio.
GLP's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP113.01%
EPS Next 2Y10.86%
EPS Next 3Y9.65%
50.25
+0.09 (+0.18%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners47.88%
Inst Owner Change20.77%
Ins Owners4.6%
Ins Owner Change0.6%
Market Cap1.71B
Analysts46.67
Price Target54.06 (7.58%)
Short Float %1.9%
Short Ratio9.68
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.06% |
Yearly Dividend3.6
Dividend Growth(5Y)9.73%
DP113.01%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)701.32%
Min EPS beat(2)114.52%
Max EPS beat(2)1288.12%
EPS beat(4)2
Avg EPS beat(4)338.41%
Min EPS beat(4)-26.22%
Max EPS beat(4)1288.12%
EPS beat(8)3
Avg EPS beat(8)112.51%
EPS beat(12)7
Avg EPS beat(12)110.42%
EPS beat(16)10
Avg EPS beat(16)136.03%
Revenue beat(2)0
Avg Revenue beat(2)-23.98%
Min Revenue beat(2)-28.57%
Max Revenue beat(2)-19.38%
Revenue beat(4)0
Avg Revenue beat(4)-23.56%
Min Revenue beat(4)-28.57%
Max Revenue beat(4)-19.38%
Revenue beat(8)0
Avg Revenue beat(8)-15.67%
Revenue beat(12)2
Avg Revenue beat(12)-8.75%
Revenue beat(16)4
Avg Revenue beat(16)-6.89%
PT rev (1m)0%
PT rev (3m)-5.36%
EPS NQ rev (1m)0%
EPS NQ rev (3m)42.86%
EPS NY rev (1m)0%
EPS NY rev (3m)24.56%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.43%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.41%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.61 | ||
| Fwd PE | 16.42 | ||
| P/S | 0.1 | ||
| P/FCF | 29.38 | ||
| P/OCF | 10.5 | ||
| P/B | 2.46 | ||
| P/tB | 6.67 | ||
| EV/EBITDA | 8.52 |
EPS(TTM)3.22
EY6.41%
EPS(NY)3.06
Fwd EY6.09%
FCF(TTM)1.71
FCFY3.4%
OCF(TTM)4.79
OCFY9.52%
SpS517.95
BVpS20.46
TBVpS7.54
PEG (NY)1.03
PEG (5Y)0.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.83% | ||
| ROE | 15.52% | ||
| ROCE | 9.89% | ||
| ROIC | 7.82% | ||
| ROICexc | 7.84% | ||
| ROICexgc | 9.33% | ||
| OM | 1.55% | ||
| PM (TTM) | 0.61% | ||
| GM | 6.23% | ||
| FCFM | 0.33% |
ROA(3y)5.56%
ROA(5y)4.4%
ROE(3y)23.6%
ROE(5y)19.66%
ROIC(3y)9.44%
ROIC(5y)8.29%
ROICexc(3y)9.47%
ROICexc(5y)8.32%
ROICexgc(3y)11.69%
ROICexgc(5y)10.23%
ROCE(3y)11.94%
ROCE(5y)10.49%
ROICexcg growth 3Y5.86%
ROICexcg growth 5Y4.63%
ROICexc growth 3Y6.72%
ROICexc growth 5Y5.22%
OM growth 3Y9.6%
OM growth 5Y5.99%
PM growth 3Y12.39%
PM growth 5Y17.64%
GM growth 3Y4.33%
GM growth 5Y3.99%
F-Score6
Asset Turnover4.61
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.28 | ||
| Debt/FCF | 31.69 | ||
| Debt/EBITDA | 3.82 | ||
| Cap/Depr | 73.07% | ||
| Cap/Sales | 0.59% | ||
| Interest Coverage | 2.28 | ||
| Cash Conversion | 39.17% | ||
| Profit Quality | 53.88% | ||
| Current Ratio | 1.17 | ||
| Quick Ratio | 0.68 | ||
| Altman-Z | N/A |
F-Score6
WACC8.9%
ROIC/WACC0.88
Cap/Depr(3y)85.52%
Cap/Depr(5y)86.46%
Cap/Sales(3y)0.57%
Cap/Sales(5y)0.68%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)19.7%
EPS 3Y23.25%
EPS 5Y16.31%
EPS Q2Q%197.3%
EPS Next Y15.2%
EPS Next 2Y10.86%
EPS Next 3Y9.65%
EPS Next 5YN/A
Revenue 1Y (TTM)6.04%
Revenue growth 3Y9.01%
Revenue growth 5Y5.58%
Sales Q2Q%10.78%
Revenue Next Year25.4%
Revenue Next 2Y21.3%
Revenue Next 3Y16.78%
Revenue Next 5YN/A
EBIT growth 1Y26.55%
EBIT growth 3Y19.48%
EBIT growth 5Y11.91%
EBIT Next Year71.37%
EBIT Next 3Y21.09%
EBIT Next 5YN/A
FCF growth 1Y-82.55%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-62.86%
OCF growth 3Y-14.3%
OCF growth 5Y-19.66%