11 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 13.9% per year over the past 5 years.
Net income has grown slower than revenue (-0.8% vs 13.9% per year).
Operating margin has contracted, at 2.7% in the latest year.
Free cash flow has declined 3.9% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$8.7B
$98M
12.2%
2.7%
—
2.5%
$193M
—
$12M
2024
$8.7B
$110M
12.2%
2.9%
—
2.9%
-$72M
—
$8M
2023
$9.8B
$153M
10.0%
2.5%
—
4.4%
$424M
—
$20M
2022
$11.1B
$362M
9.8%
4.1%
—
11.5%
$373M
—
$4M
2021
$7.6B
$61M
9.5%
1.9%
—
2.1%
-$51M
—
$11M
2020
$4.5B
$102M
15.9%
4.2%
—
4.0%
$236M
—
$10M
2019
$6.6B
$36M
10.1%
2.1%
—
1.3%
$12M
—
$12M
2018
$6.8B
$104M
9.6%
2.9%
—
4.3%
$100M
—
$8M
2017
—
$59M
—
—
—
2.5%
$299M
—
$15M
2016
—
-$199M
—
—
—
-7.8%
-$191M
—
$10M
2015
—
$44M
—
—
—
1.6%
-$30M
—
$1M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Mar '26
$2.4B
$70M
13.9%
4.4%
—
1.6%
-$137M
—
$18M
Dec '25
$2.2B
$25M
11.9%
2.6%
—
0.7%
$62M
—
$12M
Sep '25
$2.2B
$29M
12.1%
2.7%
—
0.8%
-$678000
—
$18M
Jun '25
$2.1B
$25M
13.1%
2.9%
—
0.7%
$201M
—
$16M
Mar '25
$2.2B
$19M
11.7%
2.6%
—
0.5%
-$69M
—
$7M
Dec '24
$2.1B
$24M
13.0%
2.8%
—
0.6%
$20M
—
$8M
Sep '24
$2.1B
$46M
13.4%
3.9%
—
1.3%
$98M
—
$21M
Jun '24
$2.3B
$46M
12.6%
3.7%
—
1.2%
$9M
—
$14M
Mar '24
$2.2B
-$6M
9.8%
1.2%
—
-0.2%
-$199M
—
$73M
Dec '23
$2.3B
$55M
12.1%
3.5%
—
1.6%
$135M
—
$20M
Sep '23
$2.8B
$27M
8.1%
1.7%
—
0.9%
$80M
—
$11M
Jun '23
$2.3B
$41M
10.5%
2.7%
—
1.4%
$243M
—
$11M
Mar '23
$2.3B
$29M
9.6%
2.2%
—
1.0%
-$35M
—
$7M
Dec '22
$2.6B
$57M
10.7%
3.0%
—
1.8%
-$138M
—
$4M
Sep '22
$2.7B
$111M
12.1%
5.2%
—
3.7%
$168M
—
$15M
Jun '22
$3.2B
$163M
8.8%
5.8%
—
5.4%
$337M
—
$7M
Mar '22
$2.6B
$30M
7.9%
2.0%
—
1.0%
$6M
—
$11M
Dec '21
$2.2B
$19M
8.6%
1.8%
—
0.7%
-$85M
—
$11M
Sep '21
$2.0B
$34M
10.2%
2.7%
—
1.3%
$126M
—
$15M
Jun '21
$1.8B
$12M
9.8%
1.8%
—
0.4%
$31M
—
$6M
Valuation over time
How the market has priced GLP against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 2.9× (Mar '23) to 16.0× (Nov '26).
The price-to-sales ratio has risen from 0.1× (Mar '23) to 0.2× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is GLP growing its revenue and profit?
Over the past 5 years, GLOBAL PARTNERS LP's revenue has grown 13.9% per year, and net income declined 0.8% per year. These are computed facts, not advice.
How much debt does GLP have?
As of FY2025, GLOBAL PARTNERS LP reported — of total debt against $12M of cash.
What is GLP's profit margin?
In FY2025, gross margin was 12.2%, operating margin 2.7%, and net margin 1.1%.
What is GLP's P/E ratio?
GLOBAL PARTNERS LP's P/E (TTM) is 8.01 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the GLP stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 16.0× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.