Crossamerica Partners (CAPL) AI Stock Analysis

• Market Cap: $833.25M
• Dividend Yield: 10.09%
• Average Volume (3M): 23.15K
• Price to Earnings (P/E): 19.3
• Beta (1Y): 0.21
• Revenue Growth: -10.27%
• EPS Growth: 131.17%
• Country: US
• Employees: 179
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 0.25
• Shares Outstanding: 38,135,080
• 10 Day Avg. Volume: 26,298
• 30 Day Avg. Volume: 23,154
• PEG Ratio: 0.17
• Price to Book (P/B): -10.90
• Price to Sales (P/S): 0.21
• P/FCF Ratio: 14.07
• Enterprise Value/Market Cap: 2.08
• Enterprise Value/Revenue: 0.32
• Enterprise Value/Gross Profit: 4.50
• Enterprise Value/Ebitda: 7.10
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.43
• Revenue Forecast (FY): $3.06B

• Rating: 49 Neutral
• Price Target: $20.00 ▼(-6.59% Downside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is held back primarily by balance-sheet risk (negative equity/high leverage) and weak technical momentum (below major moving averages with negative MACD). Offsetting factors include consistently positive free cash flow, improving leverage via asset sales and debt reduction, and a very high dividend yield that supports income-oriented valuation.

Positive Factors

Cash generation

Consistent positive operating and free cash flow across reported years provides durable internal liquidity to fund distributions, capex, and debt reduction. Reliable cash generation from fuel retail and merchandise sales supports financial flexibility through commodity cycles and underpins capital allocation choices.

Asset sales driving deleveraging

Active monetization of non-core sites has produced material proceeds used to pay down debt, lower interest expense and reduce leverage to mid-3x. This structural portfolio optimization strengthens the balance sheet, increases margin resilience and creates optionality for reinvestment or sustaining distributions.

Maintained distribution and improved retail margins

Sustaining the quarterly distribution alongside rising distributable cash flow and retail gross-profit improvements signals that cash returns are backed by operating cash flow and margin recovery. Stable payouts backed by improving merchandise and fuel margins support income credibility for long-term investors.

Negative Factors

Balance-sheet leverage and negative equity

Large persistent debt (~$0.8–$1.0B) and episodes of negative equity materially constrain financial flexibility. Negative equity raises refinancing and covenant risk, limits capacity for growth investments, and weakens resilience to commodity or demand shocks over the medium term.

Multi-year revenue decline and thin margins

Sustained top-line erosion and sub-1% net margins leave little buffer for cost or margin shocks. Persistent revenue contraction reduces operating leverage benefits, slows retained-earnings rebuild, and makes it harder to restore equity or absorb cyclical downturns without continued asset disposals.

Declining fuel volumes

Falling fuel volumes directly reduce the core wholesale and retail throughput that drives gross profit and site economics. Volume declines shrink scale, pressure supplier leverage and rental income, and suggest structural demand or competitive challenges that could persist absent regained market share.

Crossamerica Partners Business Overview & Revenue Model

Company Description

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites. The Retail segment is involved in the sale of convenience merchandise items; and retail sale of motor fuels at company operated retail sites and retail sites operated by commission agents. As of December 31, 2021, the company distributed motor fuel on a wholesale basis to approximately 1,750 sites located in 34 states; and owned or leased approximately 1,150 sites. CrossAmerica GP LLC operates as the general partner of the company. The company was formerly known as Lehigh Gas Partners LP and changed its name to CrossAmerica Partners LP in October 2014. The company was founded in 1992 and is based in Allentown, Pennsylvania.

How the Company Makes Money

CrossAmerica Partners generates revenue primarily through the wholesale distribution of fuel and the operation of its convenience stores. Key revenue streams include fuel sales to both retail consumers and commercial customers, as well as sales from in-store merchandise and food offerings at their convenience store locations. Additionally, CAPL benefits from lease income from properties leased to third-party operators and fuel supply agreements. The company has established significant partnerships with leading brands in the fuel and retail sectors, enhancing its market presence and driving sales. These partnerships, coupled with strategic asset acquisitions and efficient supply chain management, contribute to CAPL's overall earnings and financial performance.

Crossamerica Partners Financial Statement Overview

Summary

Cash flow is a clear strength with consistently positive operating and free cash flow and a strong 2025 FCF increase. However, profitability is thin and weakening with multi-year revenue pressure (including a 2025 revenue datapoint shown as 0, reducing visibility), and the balance sheet is the main risk with high leverage and negative equity in 2024–2025.

Income Statement

Profitability is consistently positive in the annual periods provided, but it has weakened versus earlier years. Revenue has trended down for multiple years (2023–2024 declines), and reported 2025 annual revenue is shown as 0, which makes margins for that period unusable and raises data-quality/visibility concerns. Margins are structurally thin in 2021–2024 (net margin under 1% in most years), with a notable step-down from the much stronger 2020 profitability.

Balance Sheet

Leverage is high relative to the equity base, and equity turns negative in 2024–2025, which is a major balance-sheet risk signal. Total debt remains large and fairly persistent (~$0.8–$1.0B across the period), while the debt-to-equity profile becomes unfavorable/unstable as equity erodes (including negative equity). Returns on equity are not meaningful in the negative-equity years and highlight weakened capital structure resilience.

Cash Flow

Cash generation is a relative strength: operating cash flow and free cash flow are positive in every year shown, with 2025 free cash flow up strongly year-over-year. That said, cash conversion versus accounting earnings is only moderate (free cash flow running at ~56%–81% of net income), and operating cash flow coverage is consistently below 1.0, suggesting cash flow strength is solid but not exceptionally conservative versus obligations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.66B	4.10B	4.39B	4.97B	3.58B
Gross Profit	336.22M	398.32M	382.27M	375.77M	276.95M
EBITDA	187.81M	147.32M	166.02M	177.13M	114.53M
Net Income	41.83M	19.89M	40.10M	61.97M	21.65M
Balance Sheet
Total Assets	964.73M	1.11B	1.18B	1.26B	1.34B
Cash, Cash Equivalents and Short-Term Investments	3.14M	3.38M	4.99M	16.05M	7.65M
Total Debt	907.90M	908.56M	910.47M	943.35M	996.55M
Total Liabilities	1.04B	1.14B	1.15B	1.18B	1.28B
Stockholders Equity	-72.04M	-24.78M	3.01M	79.13M	56.56M
Cash Flow
Free Cash Flow	55.77M	61.46M	82.45M	130.97M	53.61M
Operating Cash Flow	91.50M	87.78M	117.08M	161.32M	95.47M
Investing Cash Flow	68.44M	-16.31M	-28.18M	-46.40M	-298.69M
Financing Cash Flow	-160.18M	-73.08M	-99.97M	-106.51M	210.36M

Crossamerica Partners Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.41
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAPL, the sentiment is Positive. The current price of 21.41 is below the 20-day moving average (MA) of 21.58, above the 50-day MA of 21.29, and above the 200-day MA of 20.24, indicating a bullish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 55.66 is Neutral, neither overbought nor oversold. The STOCH value of 66.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CAPL.

Crossamerica Partners Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PARR	71 Outperform	$2.45B	4.84	27.33%	―	-10.11%	-7.00%
SUN	69 Neutral	$9.87B	13.57	5.60%	6.88%	-5.18%	-33.14%
SGU	67 Neutral	$428.74M	2.76	19.41%	6.14%	1.04%	111.69%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
DK	62 Neutral	$2.68B	5.68	-6.81%	3.42%	-22.37%	-27.22%
WKC	53 Neutral	$1.26B	-2.09	-23.84%	3.30%	-15.32%	-442.37%
CAPL	49 Neutral	$833.25M	19.25	―	10.09%	-10.27%	131.17%

Crossamerica Partners Corporate Events

CrossAmerica Partners Announces New CEO and CFO Leadership

On March 2, 2026, CrossAmerica Partners LP announced a leadership transition at its general partner, appointing former Chief Financial Officer Maura Topper as President and CEO of CrossAmerica GP LLC, succeeding Charles M. Nifong Jr., who had led the partnership since November 2019. Nifong simultaneously left the board and moved to the executive management team of affiliate Dunne Manning Holdings LLC, while Topper’s promotion included an increase in annual base salary to $500,000, with her incentive targets unchanged.

The board also named longtime finance executive and current Chief Accounting Officer Jonathan E. Benfield as Interim Chief Financial Officer and Chief Accounting Officer of the general partner, effective March 2, 2026, with his base salary raised to $325,000 and bonus target lifted to 50% of salary. The appointments underscore continued leadership continuity within the Topper-controlled group of entities as CrossAmerica pursues its strategy of retail-focused growth and asset optimization, signaling stability for investors and business partners despite the CEO change.

The most recent analyst rating on (CAPL) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on Crossamerica Partners stock, see the CAPL Stock Forecast page.

CrossAmerica Partners Posts Solid Q4 Results, Strengthens Balance Sheet

On February 25, 2026, CrossAmerica Partners reported fourth-quarter 2025 net income of $10.2 million, adjusted EBITDA of $43.4 million and distributable cash flow of $28.5 million, with stronger fuel and merchandise margins and lower operating expenses lifting EBITDA and cash flow despite lower net income caused by reduced gains on asset sales. For full-year 2025, net income rose to $41.8 million on essentially flat adjusted EBITDA of $146.0 million, while distributable cash flow improved to $87.8 million and leverage fell to 3.51 times, as over $100 million of proceeds from divesting non-core sites were used to cut debt and support a higher distribution coverage ratio.

In the retail segment, fourth-quarter 2025 gross profit grew 10% year-on-year to $82.9 million on higher fuel and merchandise margins, even as fuel volumes and site counts declined due to real estate optimization, and full-year retail gross profit increased 4% to $302.2 million on stronger margins and higher average site count. Management highlighted that strategic conversions of sites to company-operated retail locations, growth in same-store merchandise sales and margin expansion, and lower interest expense from reduced debt have enhanced CrossAmerica’s financial flexibility and positioned the partnership with a solid core business and stronger balance sheet entering 2026.

The most recent analyst rating on (CAPL) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on Crossamerica Partners stock, see the CAPL Stock Forecast page.

CrossAmerica Partners Maintains Quarterly Cash Distribution at $0.525

On January 21, 2026, CrossAmerica Partners LP announced that the board of its general partner approved a quarterly cash distribution of $0.5250 per unit attributable to the fourth quarter of 2025, matching the prior quarter and equating to an annualized rate of $2.10 per unit. The distribution is scheduled to be paid on February 12, 2026, to unitholders of record as of February 2, 2026, underscoring the partnership’s continued commitment to maintaining its current payout level ahead of the planned release of its fourth-quarter and full-year 2025 results and an earnings call set for February 26, which will be closely watched by income-focused investors and other stakeholders relying on the stability of its distributions.

The most recent analyst rating on (CAPL) stock is a Hold with a $22.50 price target. To see the full list of analyst forecasts on Crossamerica Partners stock, see the CAPL Stock Forecast page.