Crossamerica Partners (CAPL)
NYSE:CAPL
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Crossamerica Partners
(NYSE:CAPL)
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Rating:50Neutral
Price Target:
$21.00
▼(-1.91% Downside)
Action:ReiteratedDate:04/01/26
The score is held back primarily by stressed financial structure (negative equity/high leverage) and weak current technical momentum. These are partially offset by dependable cash generation and a very high dividend yield, plus a generally positive earnings update showing stronger margins, improved distribution coverage, and better leverage.
Positive Factors
Consistent cash generation
Reliable operating and free cash flow across reported years gives CrossAmerica durable internal funding. Persistent cash generation supports distributions, debt reduction, working capital and selective reinvestment without relying solely on external financing, bolstering resilience over a 2–6 month horizon.
Negative Factors
High leverage and negative equity risk
Persistent, sizable debt with periods of negative equity materially weakens capital structure and financial flexibility. Negative equity elevates covenant and refinancing risk, constrains strategic options and magnifies downside in commodity or demand shocks despite recent debt paydowns.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent cash generation
Reliable operating and free cash flow across reported years gives CrossAmerica durable internal funding. Persistent cash generation supports distributions, debt reduction, working capital and selective reinvestment without relying solely on external financing, bolstering resilience over a 2–6 month horizon.
Read all positive factors
Crossamerica Partners (CAPL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$798.17M
Dividend Yield10.09%
Average Volume (3M)23.15K
Price to Earnings (P/E)19.3
Beta (1Y)0.14
Revenue Growth-10.27%
EPS Growth131.17%
CountryUS
Employees179
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)0.25
Shares Outstanding38,135,080
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 Cap2.16
Enterprise Value/Revenue0.31
Enterprise Value/Gross Profit4.47
Enterprise Value/Ebitda7.06
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.43
Revenue Forecast (FY)$3.06B
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:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 11, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and financial picture: strong fuel margin expansion, merchandise margin improvement, a sizable increase in adjusted EBITDA and distributable cash flow, disciplined expense management, and record asset sales that materially reduced leverage and interest costs. Offsetting these positives were notable volume declines across retail and wholesale (partly due to an exceptionally strong prior-year comparison and intentional pricing/conversion decisions), a drop in Q4 net income driven by fewer asset sale gains in the quarter, and modest full-year operating expense growth. Overall, the company appears to be in a stronger financial position entering 2026 with improved margins and balance sheet flexibility, while managing volume headwinds through pricing and portfolio optimization.Positive Updates
Retail Gross Profit Growth (Q4)
Retail segment gross profit increased 10% year-over-year to $82.9 million in Q4 2025 from $75.1 million in Q4 2024, driven primarily by higher motor fuel gross profit and stronger retail fuel margins.
Negative Updates
Retail Fuel Volume Declines (Q4)
Overall retail same-store fuel volume declined 8% year-over-year in Q4 2025. Company-operated site volume was down ~6% year-over-year for the quarter, noting the prior-year quarter was unusually strong which partly explains the reversion.
Read all updates
Q4-2025 Updates
Positive
Negative
Retail Gross Profit Growth (Q4)
Retail segment gross profit increased 10% year-over-year to $82.9 million in Q4 2025 from $75.1 million in Q4 2024, driven primarily by higher motor fuel gross profit and stronger retail fuel margins.
Read all positive updates
Company Guidance
Management guided to a similar strategic playbook for 2026 but at a more moderate pace than 2025: they expect continued site divestitures and class-of-trade conversions aimed at increasing retail exposure, though at a lower level than 2025 (when they realized over $100M of asset-sale proceeds, including ~$8.8M in Q4, and used proceeds to pay down roughly $75M of revolver balance). They said proceeds will be used to invest in the business and strengthen the balance sheet while managing credit-facility leverage around ~4.0x (ended 2025 at 3.51x with a CAPL revolver balance of $692.3M), maintain liquidity and cash generation (Q4 distributable cash flow $28.5M, Q4 distribution coverage 1.43x, FY DCF $87.8M, FY coverage 1.10x), and preserve capital discipline; they also cited a favorable fuel margin environment (Q4 retail fuel margin $0.449/gal, +19% YoY) that supported adjusted EBITDA of $43.4M in Q4 (+22% YoY, FY $146M) and noted >55% of the facility is swapped to a ~3.4% blended fixed rate with an effective facility rate of ~5.6%.Crossamerica Partners Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
18
Very Negative
Cash Flow
62
Positive
| 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
Negative
21.41
Price Trends
21.67
Negative
21.05
Negative
20.36
Positive
Market Momentum
-0.20
Positive
42.33
Neutral
29.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAPL, the sentiment is Negative. The current price of 21.41 is below the 20-day moving average (MA) of 21.51, below the 50-day MA of 21.67, and above the 200-day MA of 20.36, indicating a neutral trend. The MACD of -0.20 indicates Positive momentum. The RSI at 42.33 is Neutral, neither overbought nor oversold. The STOCH value of 29.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $3.17B | 4.84 | 28.59% | ― | -10.11% | -7.00% | |
68 Neutral | $13.58B | 13.57 | 7.27% | 6.88% | -5.18% | -33.14% | |
67 Neutral | $411.65M | 2.76 | 19.81% | 6.14% | 1.04% | 111.69% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | $2.67B | 5.68 | -14.06% | 3.42% | -22.37% | -27.22% | |
53 Neutral | $1.21B | -2.09 | -23.84% | 3.30% | -15.32% | -442.37% | |
50 Neutral | $798.17M | 19.25 | -67.36% | 10.09% | -10.27% | 131.17% |
* Energy Sector Average
CAPL
Crossamerica Partners
20.93
0.63
3.12%
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255.21%
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23.58
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-2.37%
SUN
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66.32
16.83
34.01%
PARR
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64.61
50.37
353.72%
Crossamerica Partners Corporate Events
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...
DividendsFinancial Disclosures
CrossAmerica Partners Maintains Quarterly Cash Distribution at $0.525
Positive
Jan 21, 2026
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 annu...
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.