olivLaw · US equity research
CrossAmerica Partners LP CAPL
Wholesale-Petroleum & Petroleum Products (No Bulk Stations) · SIC 5172 · Vertical: Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (SIC 5172)
CrossAmerica Partners LP (CAPL) distributes motor fuel wholesale to independent dealers and station networks, operates convenience stores and leases real estate to dealers. In the second quarter of 2026 it raised Adjusted EBITDA and distributable cash flow amid volatile fuel prices. The company is of interest to investors tracking a model built on rental income and distributions, but one sensitive to oil prices and leverage.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, CrossAmerica Partners LP (CAPL) stock was 20.27 USD (−4.30% on the day), with market capitalisation 773.8 m USD, P/E 16.1 on diluted EPS of 1.26 USD over the last 12 months, dividend yield 10.35%, beta 0.20, 52-week range 19.78–24.07 USD. Latest reported quarter (Q3 2026): revenue of 1.2 bn USD (+22.9% YoY), net income of 8.8 m USD (−35.5% YoY), diluted EPS 0.21 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 28.4
- oversold (≤ 30)
- Bollinger (20, 2)
- 20.59 – 22.94
- below the lower band · %B -0.13 · band width 10.8%
- SMA 50 / 200
- 22.10 / 22.01
- mixed trend
- MACD (12, 26, 9)
- -0.15 / -0.03
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −6.5% | −1.1% | −5.4 pp | — |
| 3 months | −4.5% | −0.5% | −4.0 pp | — |
| 6 months | −2.2% | +4.4% | −6.6 pp | — |
| Year to date | −1.6% | +12.3% | −13.9 pp | — |
| 1 year | +1.1% | +13.5% | −12.4 pp | +9.2% |
| 3 years | −9.9% | +76.4% | −86.3 pp | — |
| 5 years | −0.4% | +63.7% | −64.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 944.2 m | 862.5 m | 961.9 m | 971.8 m | 866.3 m | 841.8 m | 1.2 bn | 1.2 bn |
| Cost of revenue | 843.2 m | 772.7 m | 860.9 m | 867.1 m | 759.2 m | 744.2 m | 1.1 bn | 1.1 bn |
| Gross profit | 101.0 m | 89.8 m | 101.0 m | 104.8 m | 107.1 m | 97.6 m | 112.8 m | 101.1 m |
| SG&A | 6.7 m | 7.7 m | 6.6 m | 6.5 m | 7.2 m | 6.5 m | 6.8 m | 6.7 m |
| Operating income | 28.3 m | 2.0 m | 41.5 m | 28.1 m | 26.1 m | 23.8 m | 35.3 m | 23.7 m |
| Depreciation & amortisation | 18.1 m | 26.3 m | 23.3 m | 20.0 m | 19.9 m | 17.1 m | 16.8 m | 16.8 m |
| Interest expense | 13.4 m | 12.8 m | 12.6 m | 11.8 m | 10.9 m | 10.8 m | 11.3 m | 12.2 m |
| Pre-tax income | 15.1 m | -10.7 m | 29.1 m | 16.5 m | 15.3 m | 13.2 m | 24.1 m | 11.8 m |
| Income tax | -1.8 m | -3.6 m | 3.9 m | 2.9 m | 5.1 m | 2.5 m | 3.3 m | 3.0 m |
| Net income | 16.9 m | -7.1 m | 25.2 m | 13.6 m | 10.2 m | 10.7 m | 20.8 m | 8.8 m |
| Diluted EPS | 0.44 ≈ | -0.20 | 0.64 | 0.34 | 0.27 ≈ | 0.26 | 0.52 | 0.21 |
| Operating cash flow | 11.1 m | 15.0 m | 22.7 m ≈ | 24.4 m ≈ | 29.4 m | 27.9 m | 33.2 m ≈ | 24.5 m ≈ |
| Capex | 7.2 m | 10.1 m | 11.8 m ≈ | 6.7 m ≈ | 7.1 m | 3.4 m | 7.4 m ≈ | 7.2 m ≈ |
| Dividends paid | 20.0 m | 20.0 m | 20.0 m ≈ | 20.0 m ≈ | 20.0 m | 20.0 m | 20.0 m ≈ | 20.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 18 percentile of its own 17-quarter history (min 13.4, median 20.2, max 130.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.1 bn | 1.9 bn | 3.6 bn | 5.0 bn | 4.4 bn | 4.1 bn | 3.7 bn |
| Revenue YoY | +16.8% | −12.1% | −10.1% | +85.2% | +38.8% | −11.7% | −6.6% | −10.6% |
| Net income | 5.3 m | 18.1 m | 107.5 m | 21.7 m | 63.7 m | 42.6 m | 22.5 m | 41.8 m |
| Net income YoY | −77.3% | +244.2% | +494.5% | −79.8% | +194.2% | −33.1% | −47.3% | +86.3% |
| Diluted EPS | unavailable | unavailable | unavailable | 0.57 | 1.63 | 1.05 | 0.52 | 1.02 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | +186.0% | −35.6% | −50.5% | +96.2% |
| net % | 0.2% | 0.8% | 5.6% | 0.6% | 1.3% | 1.0% | 0.5% | 1.1% |
| Free cash flow | 76.0 m | 47.7 m | 67.4 m | 53.6 m | 131.0 m | 82.5 m | 61.5 m | 55.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 3.1 m USD
- Financial debt
- 697.0 m USD
- Net debt
- 693.8 m USD
- Equity
- unavailable USD
- Total assets
- 964.7 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.74x
- ROE
- unavailable
- ROA
- 4.0%
- FCF margin
- 1.5%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.9 bn | 3.6 bn | 5.0 bn | 4.4 bn | 4.1 bn | 3.7 bn | SEC (XBRL)· 25 Feb 2026verified |
| Cost of revenue | 1.7 bn | 3.3 bn | 4.6 bn | 4.0 bn | 3.7 bn | 3.3 bn | SEC (XBRL)· 25 Feb 2026verified |
| Gross profit | 212.1 m | 277.0 m | 375.8 m | 382.3 m | 398.3 m | 402.7 m | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | 21.0 m | 30.9 m | 25.6 m | 27.0 m | 28.8 m | 28.0 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | 115.6 m | 36.1 m | 96.0 m | 88.1 m | 70.6 m | 97.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 68.7 m | 77.9 m | 80.6 m | 77.2 m | 76.0 m | 89.6 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | 184.3 m ≈ | 114.0 m ≈ | 176.6 m ≈ | 165.2 m ≈ | 146.5 m ≈ | 187.2 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 16.6 m | 18.2 m | 32.1 m | 43.7 m | 52.3 m | 48.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | 99.5 m | 18.4 m | 64.4 m | 45.1 m | 19.0 m | 50.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | -7.9 m | -3.2 m | 714.0 k | 2.5 m | -3.4 m | 8.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Net income | 107.5 m | 21.7 m | 63.7 m | 42.6 m | 22.5 m | 41.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | — | 0.57 | 1.63 | 1.05 | 0.52 | 1.02 | SEC (XBRL)· 25 Feb 2026verified |
| Weighted average diluted shares | — | 37.9 m | 38.1 m | 38.1 m | 38.2 m | 38.2 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 513.0 k | 7.6 m | 16.1 m | 5.0 m | 3.4 m | 3.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | 28.5 m | 33.3 m | 30.8 m | 31.2 m | 31.6 m | 28.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Inventories | 23.3 m | 46.1 m | 47.3 m | 52.3 m | 63.2 m | 59.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 74.8 m | 106.3 m | 118.4 m | 108.5 m | 118.8 m | 111.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 570.9 m | 755.5 m | 728.4 m | 705.2 m | 656.3 m | 547.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | 88.8 m | 100.5 m | 99.4 m | 99.4 m | 99.4 m | 99.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Intangibles (excl. goodwill) | 92.9 m | 114.2 m | 113.9 m | 95.3 m | 77.2 m | 61.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 1.0 bn | 1.3 bn | 1.3 bn | 1.2 bn | 1.1 bn | 964.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | 64.0 m | 67.2 m | 77.0 m | 69.0 m | 74.0 m | 63.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Short-term debt | 2.6 m | 10.9 m | 11.2 m | 3.1 m | 3.3 m | 3.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Long-term debt | 530.6 m | 818.9 m | 767.9 m | 764.0 m | 772.2 m | 693.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Current liabilities | 146.9 m | 163.9 m | 175.3 m | 161.1 m | 162.8 m | 149.5 m | SEC (XBRL)· 06 May 2026verified |
| Total liabilities | 904.7 m | 1.2 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 25 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 104.5 m | 95.5 m | 161.3 m | 117.1 m | 87.8 m | 91.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 37.1 m | 41.9 m | 30.4 m | 34.6 m | 26.3 m | 35.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | 67.4 m ≈ | 53.6 m ≈ | 131.0 m ≈ | 82.5 m ≈ | 61.5 m ≈ | 55.8 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -19.5 m | -298.7 m | -46.4 m | -28.2 m | -16.3 m | 68.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | -86.2 m | 210.4 m | -106.5 m | -100.0 m | -73.1 m | -160.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Dividends paid | 77.8 m | 79.6 m | 79.6 m | 79.7 m | 79.9 m | 80.0 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 773.8 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet4
- Growth0
- Quality100
- Returns78
- Valuation73
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 28.26 – 70.87 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)28.26 – 70.87 (Mid 42.59)WACC 7.1% · starting FCFF 125.3 m USD · terminal value share of EV 80%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -22.0%
- Peers: EV/EBITDAunavailable · not enough peers
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.2% | 100 (vs peers) | 7% |
| FCF conversion · Quality | 178.2% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -9.7% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -14.5% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 4.0x | 0 (on a fixed band) | 12% |
| Interest coverage · Balance sheet | 2.4x | 14 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 16.1x | 63 (on a fixed band) | 12% |
| EV/EBITDA · Valuation | 8.4x | 60 (on a fixed band) | 12% |
| FCF yield · Valuation | 11.6% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 10.4% | 100 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 89.1% | 44 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet4/100 · 3/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality100/100 · 2/3 factors with a value
- Returns78/100 · 2/2 factors with a value
- Valuation73/100 · 3/3 factors with a value
Memo
CROSSAMERICA PARTNERS LP (CAPL). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 3.7 bn USD in 2025; YoY growth -10.6%; net margin 1.2%; net debt/EBITDA 4.0x.
The estimated value range is 28.26–70.87 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 42.59 USD, the price of 20.27 USD leaves a potential of 110.1% (value / price − 1) and a margin of safety of 52.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 1.2%
- FCF conversion: 178.2%
- FCF yield: 11.6%
- Shareholder yield (distributions): 10.4%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -9.7%
- EPS CAGR 3Y: -14.5%
- Net debt / EBITDA: 4.0x
- Interest coverage: 2.4x
- Current ratio: 0.8x
Not assessed (insufficient data or a ratio without meaning): ROIC.
Versus the vertical median
Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (SIC 5172) · same industry (4-digit SIC) · compared with 6 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WKCWorld Kinect Corporation | 1.9 bn | — | -11.5% | -0.4% | −12.5% | +64% / +81% |
| CAPLCrossamerica Partners LP | 773.8 m | 16.1 | — | 1.2% | −10.6% | +1% / −10% |
| PTLEPTL Limited | 121.4 m | — | -24.8% | -1.6% | −27.0% | −30% / unavailable |
| BANLCbl International Limited | 80.0 m | — | -14.0% | -0.6% | −9.1% | −48% / −86% |
| DLXYDelixy Holdings Limited | 23.7 m | — | -612.2% | -1.5% | −2.3% | +49% / unavailable |
| UFGUni-Fuels Holdings Ltd | 13.6 m | — | -23.3% | -0.7% | +70.0% | +279% / unavailable |
| TMDETmd Energy Limited | 11.8 m | — | -154.1% | -3.4% | unavailable | −33% / unavailable |
1- and 3-year price returns: for CAPL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.39 Total return -44% · Per year -44% | 20.24 Total return -0% · Per year -0% | 30.63 Total return 51% · Per year 51% |
| 3 years | 9.05 Total return -55% · Per year -24% | 18.27 Total return -10% · Per year -3% | 30.63 Total return 51% · Per year 15% |
| 5 years | 7.18 Total return -65% · Per year -19% | 16.49 Total return -19% · Per year -4% | 30.63 Total return 51% · Per year 9% |
- Exit P/E± 4.57
- Net margin± 3.20
- Annual revenue growth± 2.89
- Annual dilution± 0.27
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
CrossAmerica Partners LP (CAPL) distributes motor fuel wholesale to independent dealers and station networks, operates convenience stores and leases real estate to dealers. In the second quarter of 2026 it raised Adjusted EBITDA and distributable cash flow amid volatile fuel prices 3. The company is of interest to investors tracking a model built on rental income and distributions, but one sensitive to oil prices and leverage 13.
SWOT
Strengths
- The company has a diversified portfolio combining distribution income, rental income and retail sales, which partly cushions volatility.
- Long-standing relationships with major oil companies and refiners give stable access to fuel under recognized brands.
- Ownership of much of its real estate and sites in high-traffic areas supports stable rental income.
Weaknesses
- Revenues track crude oil prices closely, making results sensitive to rapid market moves.
- Debt levels and credit facility covenants limit financing flexibility.
- Dependence on a small number of principal suppliers exposes the company to problems at those partners.
Opportunities
- Acquisitions of sites and supply contracts could widen the revenue base if completed on favorable terms.
- Growth in convenience merchandise sales and margin could support retail segment profitability.
- Portfolio optimization, including sales of underperforming sites, could improve return on invested capital.
Threats
- Lower fuel demand from better engine efficiency or alternative fuels could reduce volumes.
- Changes in US trade policy and tariffs could affect costs and results.
- Intense and fragmented retail competition could compress margins if prices cannot be passed on to customers.
Risks
- Crude oil and fuel price volatilityhigh
Purchase prices track crude oil, and the gap between wholesale and pump price moves can shift margins in hard-to-predict ways 1.
- Debt and covenant constraintshigh
Debt and covenant levels could limit financing and distributions, especially if interest rates rise or results weaken 13.
- Supplier concentrationmedium
Four suppliers cover most of the fuel distributed, and problems at any of them could affect revenue 1.
- Control by the Topper Groupmedium
The Topper Group controls the general partner and may have conflicts of interest, and distribution policy can be changed at any time 1.
- Environmental and labor regulationlow
Compliance costs for environmental, product quality and labor rules can be material and may rise over time 1.
Investment thesis
What would need to be true (bull case)
- If retail margins per gallon stay above earlier levels, profitability could keep growing, as seen in the second quarter of 2026 3.
- Lower debt and the extension of the facility to 2031 could improve financial flexibility and support distributions 3.
- A portfolio of real estate and long-term contracts provides relatively predictable income even as fuel prices move 1.
What would break the thesis
- If crude prices fall sharply, revenues and margins could recover while quarterly results turn weaker 1.
- High leverage could limit distributions if operating results do not hold at current levels 13.
- Lower demand or loss of independent dealer contracts could reduce volumes and wholesale gross profit 13.
What to watch
- Margin per gallon trends in retail and wholesaleQ3 2026
- Debt levels under the credit facility and leverageQ3 2026
- Board decision on the quarterly distributionQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
The Board of the general partner sets the distribution policy and may modify or revoke it at any time, and the partnership agreement does not require any payment 1. For the second quarter of 2026 the company declared a distribution of 0.5250 USD per unit, and the distribution coverage ratio for the trailing twelve months was 1.39 times 3.
Market context
Trends
- Real estate portfolio optimizationmixed
The company is selling underperforming sites and converting others to company operated or commission formats, which may reduce the site count while lifting margin per gallon 13. If the strategy holds, profit per unit could rise even with a smaller portfolio.
- Retail margin recoverytailwind
Retail margin per gallon rose sharply in the second quarter of 2026, reflecting crude price movements and market volatility 3. If volatility persists, margins could stay elevated, though quarterly results may become harder to forecast.
- Credit facility extensiontailwind
The July 2026 amendment extends the facility to 2031 and removes the SOFR credit spread adjustment, which could reduce financing uncertainty 3. The effect depends on later market conditions and the company's ability to repay debt.
Competitive position
In wholesale the company competes with other fuel distributors on customer service, reliability of supply and price 1. In retail the rivals are other station chains, independent stations, supermarkets, drugstores, discount and club stores, where location and ease of access are key factors 1.
- Other wholesale fuel distributors
Compete on service, product availability and price in wholesale, though not identified in the source.
- Gasoline station and convenience store chains
Compete on location, access and the range of products sold at store sites.
- Independent stations
Compete on pump price and proximity to customers in a fragmented segment.
- Supermarkets and discount stores
Compete with convenience products and, in some cases, with fuel sales.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report04 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Nov 2026
- Current report21 Oct 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report21 Jul 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report16 Jul 2026Material agreement · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report06 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report22 Apr 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / CrossAmerica Partners LP · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / CrossAmerica Partners LP · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / CrossAmerica Partners LP · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.