Global Partners LP (GLP) financial statements
Global Partners LP reported revenue of $18.6B in fiscal 2025, up 9.4% a year over 9 years.
Net income was $98M and the operating margin 1.3%, against -1.8% in 2016.
Free cash flow was $193M, and the company returned $10M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Global Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.2B | $8.9B | $12.7B | $13.1B | $8.3B | $13.2B | $18.9B | $16.5B | $17.2B | $18.6B |
| Cost of revenue | $7.7B | $8.3B | $12.0B | $12.4B | $7.6B | $12.5B | $17.8B | $15.5B | $16.1B | $17.5B |
| Gross profit | $546M | $583M | $650M | $663M | $721M | $719M | $1.1B | $974M | $1.1B | $1.1B |
| Selling, general and admin | $150M | $155M | $171M | $171M | $193M | $213M | $263M | $274M | $292M | $306M |
| Operating income | -$152M | $120M | $197M | $139M | $192M | $142M | $460M | $244M | $251M | $235M |
| Pre-tax income | -$239M | $34M | $108M | $36M | $102M | $62M | $379M | $161M | $115M | $99M |
| Income tax | $53,000 | -$24M | $6M | $1M | -$119,000 | $1M | $17M | $8M | $5M | $1M |
| Net income | -$199M | $59M | $104M | $36M | $102M | $61M | $362M | $153M | $110M | $98M |
| Gross margin | 6.6% | 6.5% | 5.1% | 5.1% | 8.7% | 5.4% | 5.8% | 5.9% | 6.2% | 5.7% |
| Operating margin | -1.8% | 1.3% | 1.6% | 1.1% | 2.3% | 1.1% | 2.4% | 1.5% | 1.5% | 1.3% |
| Net margin | -2.4% | 0.7% | 0.8% | 0.3% | 1.2% | 0.5% | 1.9% | 0.9% | 0.6% | 0.5% |
Balance sheet
Fiscal years, from Global Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $15M | $8M | $12M | $10M | $11M | $4M | $20M | $8M | $12M |
| Receivables | $421M | $417M | $335M | $413M | $227M | $411M | $479M | $552M | $473M | $530M |
| Inventory | $522M | $351M | $386M | $450M | $384M | $510M | $567M | $397M | $594M | $549M |
| Total current assets | $1.1B | $878M | $875M | $1.0B | $781M | $1.1B | $1.2B | $1.1B | $1.2B | $1.2B |
| Property, plant and equipment | $1.1B | $1.0B | $1.1B | $1.1B | $1.1B | $1.1B | $1.2B | $1.5B | $1.7B | $1.7B |
| Goodwill | $295M | $312M | $327M | $324M | $324M | $328M | $428M | $429M | $422M | $422M |
| Total assets | $2.6B | $2.3B | $2.4B | $2.8B | $2.5B | $2.8B | $3.2B | $3.4B | $3.8B | $3.9B |
| Total current liabilities | $799M | $669M | $583M | $754M | $498M | $840M | $971M | $983M | $1.0B | $1.1B |
| Total liabilities | $2.2B | $1.9B | $1.9B | $2.3B | $2.0B | $2.3B | $2.4B | $2.6B | $3.1B | $3.2B |
| Net debt | -$10M | -$15M | -$8M | -$12M | -$10M | -$11M | -$4M | -$20M | -$8M | -$12M |
Cash flow
Fiscal years, from Global Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$120M | $348M | $169M | $94M | $313M | $50M | $480M | $512M | $32M | $285M |
| Capital spending | $71M | $50M | $69M | $83M | $76M | $102M | $107M | $89M | $103M | $91M |
| Free cash flow | -$191M | $299M | $100M | $12M | $236M | -$51M | $373M | $424M | -$72M | $193M |
| Stock-based compensation | $4M | $3M | $3M | $2M | $1M | $707,000 | $3M | $11M | $15M | $13M |
| Share buybacks (net) | — | — | — | — | -$291,000 | -$4M | -$3M | -$4M | -$14M | -$10M |
| Free cash flow margin | -2.3% | 3.3% | 0.8% | 0.1% | 2.8% | -0.4% | 2.0% | 2.6% | -0.4% | 1.0% |
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Open GLP in InvestinglyQuestions
What was Global Partners LP's revenue in 2025?
$18.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does Global Partners LP generate?
$193M in fiscal 2025 (operating cash flow minus capital spending).
From Global Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.