GLOBAL PARTNERS LP (GLP) Stock Fundamental Analysis
NYSE:GLP - New York Stock Exchange, Inc. - US37946R1095 - Currency: USD
We assign a fundamental rating of 4 out of 10 to GLP. GLP was compared to 213 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. While showing a medium growth rate, GLP is valued expensive at the moment.
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
GLP has a Return On Assets (2.83%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 15.52%, GLP is in the better half of the industry, outperforming 73.71% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 7.82%, GLP is in the better half of the industry, outperforming 64.79% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for GLP is significantly below the industry average of 23.60%.
| 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 worse Profit Margin (0.61%) than 66.20% of its industry peers.
GLP's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 1.55%, GLP is not doing good in the industry: 73.71% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of GLP has grown nicely.
GLP has a Gross Margin of 6.23%. This is in the lower half of the industry: GLP underperforms 74.65% 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.
Compared to 5 years ago, GLP has less shares outstanding
GLP has a worse debt/assets ratio than last year.
2.2 Solvency
GLP has a debt to FCF ratio of 31.69. This is a negative value and a sign of low solvency as GLP would need 31.69 years to pay back of all of its debts.
The Debt to FCF ratio of GLP (31.69) is comparable to the rest of the industry.
GLP has a Debt/Equity ratio of 2.28. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 2.28, GLP is not doing good in the industry: 84.04% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.28 | ||
| Debt/FCF | 31.69 | ||
| Altman-Z | N/A |
ROIC/WACC0.87
WACC9.03%
2.3 Liquidity
A Current Ratio of 1.17 indicates that GLP should not have too much problems paying its short term obligations.
GLP has a Current ratio (1.17) which is comparable to the rest of the industry.
A Quick Ratio of 0.68 indicates that GLP may have some problems paying its short term obligations.
GLP's Quick ratio of 0.68 is on the low side compared to the rest of the industry. GLP is outperformed by 69.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 0.68 |
3. Growth
3.1 Past
GLP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 19.70%, which is quite good.
Measured over the past years, GLP shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.31% on average per year.
The Revenue has been growing slightly by 6.04% in the past year.
GLP shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.58% yearly.
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
The Earnings Per Share is expected to grow by 9.65% on average over the next years. This is quite good.
The Revenue is expected to grow by 16.78% on average over the next years. This is quite good.
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
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 16.66 indicates a correct valuation of GLP.
Compared to the rest of the industry, the Price/Earnings ratio of GLP is on the same level as its industry peers.
When comparing the Price/Earnings ratio of GLP to the average of the S&P500 Index (26.52), we can say GLP is valued slightly cheaper.
The Price/Forward Earnings ratio is 17.53, which indicates a rather expensive current valuation of GLP.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GLP is on the same level as its industry peers.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.25, GLP is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.66 | ||
| Fwd PE | 17.53 |
4.2 Price Multiples
GLP's Enterprise Value to EBITDA is on the same level as the industry average.
The rest of the industry has a similar Price/Free Cash Flow ratio as GLP.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 31.37 | ||
| EV/EBITDA | 8.81 |
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)1.1
PEG (5Y)1.02
EPS Next 2Y10.86%
EPS Next 3Y9.65%
5. Dividend
5.1 Amount
GLP has a Yearly Dividend Yield of 5.61%, which is a nice return.
GLP's Dividend Yield is a higher than the industry average which is at 6.77.
GLP's Dividend Yield is rather good when compared to the S&P500 average which is at 2.39.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.61% |
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.
The dividend of GLP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP113.01%
EPS Next 2Y10.86%
EPS Next 3Y9.65%
53.64
+0.49 (+0.92%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners45.31%
Inst Owner Change-20.1%
Ins Owners10.07%
Ins Owner Change1.13%
Market Cap1.82B
Analysts46.67
Price Target54.06 (0.78%)
Short Float %2.59%
Short Ratio13.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.61% |
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)-5.36%
PT rev (3m)-1.85%
EPS NQ rev (1m)42.86%
EPS NQ rev (3m)-34.78%
EPS NY rev (1m)24.56%
EPS NY rev (3m)13.15%
Revenue NQ rev (1m)-0.43%
Revenue NQ rev (3m)-0.56%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.41%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.66 | ||
| Fwd PE | 17.53 | ||
| P/S | 0.1 | ||
| P/FCF | 31.37 | ||
| P/OCF | 11.21 | ||
| P/B | 2.62 | ||
| P/tB | 7.12 | ||
| EV/EBITDA | 8.81 |
EPS(TTM)3.22
EY6%
EPS(NY)3.06
Fwd EY5.71%
FCF(TTM)1.71
FCFY3.19%
OCF(TTM)4.79
OCFY8.92%
SpS517.95
BVpS20.46
TBVpS7.54
PEG (NY)1.1
PEG (5Y)1.02
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
WACC9.03%
ROIC/WACC0.87
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%