Crossamerica Partners (CAPL)
NYSE:CAPL
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Crossamerica Partners
(NYSE:CAPL)
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Rating:59Neutral
Price Target:
$22.50
▲(5.09% Upside)
Action:Reiterated
Date:05/09/26
Overall score reflects a strong recent operational quarter (higher EBITDA/DCF and improving leverage) and supportive price momentum, partly offset by structurally weak financial fundamentals—especially negative equity/high debt—and a sharp TTM revenue decline. Valuation is helped by the high yield, but balance-sheet risk remains a key constraint.
Positive Factors
Cash generation
Sustained operating cash flow (~$104M TTM) and robust free cash flow (~$75M TTM) provide a durable internal funding source. That cash allows continued distributions, targeted capex, and debt paydown without immediate reliance on markets, supporting operational stability over the next several months.
Negative Factors
Balance-sheet leverage
High total debt (~$0.85B) and reported negative equity materially constrain financial flexibility. Persistent negative equity elevates refinancing and covenant risk, limits capacity for opportunistic investments, and makes the partnership more sensitive to cash‑flow or interest‑rate shocks over months ahead.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained operating cash flow (~$104M TTM) and robust free cash flow (~$75M TTM) provide a durable internal funding source. That cash allows continued distributions, targeted capex, and debt paydown without immediate reliance on markets, supporting operational stability over the next several months.
Read all positive factors
Crossamerica Partners (CAPL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$864.96M
Dividend Yield10.09%
Average Volume (3M)23.15K
Price to Earnings (P/E)18.6
Beta (1Y)0.17
Revenue Growth-9.39%
EPS Growth87.18%
CountryUS
Employees179
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)1.53
Shares Outstanding38,154,330
10 Day Avg. Volume26,298
30 Day Avg. Volume23,154
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)-10.90
Price to Sales (P/S)0.21
P/FCF Ratio14.07
Enterprise Value/Market Cap1.97
Enterprise Value/Revenue0.47
Enterprise Value/Gross Profit4.32
Enterprise Value/Ebitda7.10
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.43
Revenue Forecast (FY)$3.01B
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 segmen...
How the Company Makes Money
CAPL primarily makes money through (1) wholesale fuel distribution and (2) real estate-related income tied to retail fuel locations.
1) Wholesale fuel distribution (core revenue stream): CAPL purchases gasoline and other motor fuel products and r...
Crossamerica Partners Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call highlights a strong operational and financial quarter: record Q1 adjusted EBITDA (+45%), a return to net income, materially higher distributable cash flow (+136%), margin expansion in retail merchandise and stronger retail fuel margins, along with disciplined expense control and targeted asset sales that reduced debt and leverage. Offsetting these positives are persistent volume declines across retail (same-store -7%) and wholesale, reduced wholesale gross profit, site count reductions due to conversions and sales, and an accounting-driven increase in finance lease obligations. On balance, the positive operational leverage, cash generation, margin improvements, and debt reduction outweigh the volume and wholesale challenges.Positive Updates
Record Q1 Adjusted EBITDA
Adjusted EBITDA of $35.1M for Q1 2026, a record for the quarter and a 45% increase versus Q1 2025 (up $10.8M from $24.3M).
Negative Updates
Retail Fuel Volume Declines
Same-store retail fuel volumes declined ~7% year-over-year; company-operated locations down ~4% and commission locations down ~14%, with pressure accelerating in March amid rising and volatile pump prices.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Adjusted EBITDA
Adjusted EBITDA of $35.1M for Q1 2026, a record for the quarter and a 45% increase versus Q1 2025 (up $10.8M from $24.3M).
Read all positive updates
Company Guidance
The call offered operational rather than formal numeric forward guidance, with management emphasizing continued debt paydown and portfolio optimization while maintaining a target credit‑facility defined leverage of ~4x (3.35x at quarter end vs. 4.27x a year ago) and a continued pipeline of targeted real estate sales (Q1: 16 properties, ~$12.7M proceeds; credit facility reduced by ~ $10M). They said they expect durable cash flow and continued strong fuel margins into spring/summer (Q1 adjusted EBITDA $35.1M, +45% YoY; net income $10.7M; retail fuel margin $0.437/gal; wholesale fuel margin $0.094/gal), and highlighted distributions and cash flow strength (Q1 distributable cash flow $21.5M vs $9.1M prior year; Q1 distribution coverage 1.07x, TTM 1.25x; distribution $0.525/unit). Operational priorities called out include continued retail investments (Q1 capex $3.4M: $2.1M growth, $1.3M sustaining), merchandise/margin focus (merchandise margin 29.7%; merchandise gross profit $27M), maintaining cost discipline (operating expenses down $2.4M YoY), and balance‑sheet/rate management (effective credit facility rate 5.6%; >55% swapped to ~3.4% fixed; finance lease obligations up $56M).Crossamerica Partners Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
18
Very Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.64B | 3.66B | 4.10B | 4.39B | 4.97B | 3.58B |
| Gross Profit | 394.95M | 336.22M | 398.32M | 382.27M | 375.77M | 276.95M |
| EBITDA | 240.12M | 187.81M | 147.32M | 166.02M | 177.13M | 114.53M |
| Net Income | 56.89M | 41.83M | 19.89M | 40.10M | 61.97M | 21.65M |
Balance Sheet | ||||||
| Total Assets | 1.00B | 964.73M | 1.11B | 1.18B | 1.26B | 1.34B |
| Cash, Cash Equivalents and Short-Term Investments | 7.35M | 3.14M | 3.38M | 4.99M | 16.05M | 7.65M |
| Total Debt | 847.48M | 907.90M | 908.56M | 910.47M | 943.35M | 996.55M |
| Total Liabilities | 1.08B | 1.04B | 1.14B | 1.15B | 1.18B | 1.28B |
| Stockholders Equity | -78.45M | -72.04M | -24.78M | 3.01M | 79.13M | 56.56M |
Cash Flow | ||||||
| Free Cash Flow | 75.29M | 55.77M | 61.46M | 82.45M | 130.97M | 53.61M |
| Operating Cash Flow | 104.33M | 91.50M | 87.78M | 117.08M | 161.32M | 95.47M |
| Investing Cash Flow | 77.62M | 68.44M | -16.31M | -28.18M | -46.40M | -298.69M |
| Financing Cash Flow | -181.34M | -160.18M | -73.08M | -99.97M | -106.51M | 210.36M |
Crossamerica Partners Technical Analysis
Positive
21.41
Price Trends
21.18
Positive
21.06
Positive
20.21
Positive
Market Momentum
0.54
Negative
63.74
Neutral
53.94
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 21.77, above the 50-day MA of 21.18, and above the 200-day MA of 20.21, indicating a bullish trend. The MACD of 0.54 indicates Negative momentum. The RSI at 63.74 is Neutral, neither overbought nor oversold. The STOCH value of 53.94 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $14.40B | 3.45 | 17.28% | 6.88% | 37.27% | -29.09% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $418.63M | 0.93 | 29.84% | 6.14% | 3.12% | 41.70% | |
64 Neutral | $2.90B | 13.92 | 32.61% | ― | -2.52% | ― | |
59 Neutral | $864.96M | 18.59 | -85.35% | 10.09% | -9.39% | 87.18% | |
57 Neutral | $1.48B | 11.34 | -39.63% | 3.30% | -8.84% | -4366.97% | |
55 Neutral | $2.58B | -3.37 | -37.66% | 3.42% | -6.49% | 93.38% |
* Energy Sector Average
CAPL
Crossamerica Partners
22.69
2.24
10.97%
DK
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43.68
24.85
131.97%
SGU
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12.59
1.16
10.15%
WKC
World Kinect
29.50
3.02
11.41%
SUN
Sunoco
70.31
18.63
36.05%
PARR
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58.83
36.93
168.63%
Crossamerica Partners Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures
CrossAmerica Partners Posts Strong Q1 Results, New Leadership
Positive
May 6, 2026
On May 6, 2026, CrossAmerica Partners reported that first-quarter 2026 net income swung to $10.7 million from a $7.1 million loss a year earlier, with adjusted EBITDA rising to a record $35.1 million and distributable cash flow climbing to $21.5 m...
DividendsFinancial Disclosures
CrossAmerica Partners Maintains Quarterly Cash Distribution for Q1
Positive
Apr 22, 2026
On April 22, 2026, CrossAmerica Partners LP announced that the board of its general partner approved a quarterly cash distribution of $0.5250 per unit for the first quarter of 2026, matching the payout level of the fourth quarter of 2025. The firs...
Business Operations and StrategyExecutive/Board Changes
CrossAmerica Partners Announces New CEO and CFO Leadership
Positive
Mar 2, 2026
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 ...
Business Operations and StrategyFinancial Disclosures
CrossAmerica Partners Posts Solid Q4 Results, Strengthens Balance Sheet
Positive
Feb 25, 2026
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 exp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.