CAPL

MKT CAP:$792M

CrossAmerica Partners LP

Market Cap

$792M

Energy·Oil & Gas Refining & Marketing·🇺🇸 United States·NYSE

Energy·Oil & Gas Refining & Marketing·🇺🇸·NYSE

Stock Price

$20.96+$0.34 (+1.65%)

Apr 22, 2026

Company Details

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...

CEO

Maura E. Topper

IPO Date

Oct 25, 2012

Website

www.crossamericapartners.com

Key Metrics TTM

Revenue

$5.8B

+21.0% YoY

Net Income

$61M

EPS (Diluted)

$1.54

Free Cash Flow

$74M

Revenue / Share

$150.44

Gross Margin

7.0%

Operating Margin

2.2%

Net Margin

1.1%

FCF Margin

1.3%

P/S

0.1x

P/E

12.9x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 25, 2026

$3.7BEPS $1.09

Q4 2025

Feb 25, 2026

$2.7BEPS $0.25

Q3 2025

Nov 5, 2025

$972MEPS $0.36

Q2 2025

Aug 6, 2025

$962M-15.1%EPS $0.62

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 20	$591M	$62M	$24M
Q4 20	$551M	$56M	$8M
Q1 21	$657M	$55M	-$864.0K
Q2 21	$859M	$65M	$8M
Q3 21	$985M	$76M	$13M
Q4 21	$1.1B	$81M	$16M
Q1 22	$1.1B	$79M	$10M
Q2 22	$1.5B	$89M	$21M
Q3 22	$1.3B	$115M	$40M
Q4 22	$1.1B	$93M	$26M
Q2 23	$1.1B	$98M	$28M
Q3 23	$1.2B	$100M	$24M
Q2 24	$1.1B	$105M	$28M
Q2 25	$962M	$101M	$41M
Q3 25	$972M	$105M	$28M
Q4 25	$2.7B	$90M	$26M

Valuation

Quarter	P/S	P/E
Q3 20	0.3x	5.5x
Q4 20	0.3x	6.0x
Q1 21	0.3x	23.4x
Q2 21	0.3x	22.7x
Q3 21	0.2x	40.3x
Q4 21	0.2x	33.9x
Q1 22	0.2x	27.2x
Q2 22	0.2x	19.6x
Q3 22	0.1x	12.4x
Q4 22	0.2x	12.1x
Q2 23	0.1x	10.1x
Q3 23	0.2x	11.0x
Q2 24	0.2x	13.4x
Q2 25	0.2x	12.4x
Q3 25	0.2x	12.7x
Q4 25	0.1x	12.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	$25M	$11M
Q4 20	$18M	$5M
Q1 21	$18M	$7M
Q2 21	$23M	$12M
Q3 21	$35M	$25M
Q4 21	$19M	$10M
Q1 22	$28M	$19M
Q2 22	$26M	$19M
Q3 22	$72M	$61M
Q4 22	$35M	$31M
Q2 23	$36M	$30M
Q3 23	$32M	$21M
Q2 24	$29M	$24M
Q2 25	$23M	$11M
Q3 25	$24M	$18M
Q4 25	$29M	$22M

Capital Expenditures

Quarter	CapEx
Q3 20	$14M
Q4 20	$13M
Q1 21	$11M
Q2 21	$11M
Q3 21	$10M
Q4 21	$9M
Q1 22	$9M
Q2 22	$7M
Q3 22	$10M
Q4 22	$4M
Q2 23	$5M
Q3 23	$10M
Q2 24	$5M
Q2 25	$12M
Q3 25	$7M
Q4 25	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 20	+5.6%	+3.6%
Q4 20	+7.6%	+8.0%
Q1 21	+67.8%	+109.4%
Q2 21	+115.7%	+117.1%
Q3 21	+66.7%	+71.4%
Q4 21	+95.5%	+95.4%
Q1 22	+66.3%	+64.6%
Q2 22	+71.6%	+70.8%
Q3 22	+29.4%	+27.0%
Q4 22	+4.4%	+3.6%
Q2 23	+4.8%	+3.1%
Q3 23	-18.0%	-18.4%
Q2 24	-11.1%	-10.5%
Q2 25	-14.5%	-16.3%
Q3 25	-15.2%	-15.6%
Q4 25	+122.1%	+124.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$35.0K	0.0%
Q4 20	$89.0K	0.0%
Q1 21	$368.0K	0.1%
Q2 21	$386.0K	0.0%
Q3 21	$342.0K	0.0%
Q4 21	$215.0K	0.0%
Q1 22	$732.0K	0.1%
Q2 22	$222.0K	0.0%
Q3 22	$654.0K	0.1%
Q4 22	$686.0K	0.1%
Q2 23	$562.0K	0.0%
Q3 23	$961.0K	0.1%
Q2 24	$369.0K	0.0%
Q2 25	$176.0K	0.0%
Q3 25	$364.0K	0.0%
Q4 25	$501.0K	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q3 20	$5M	—
Q4 20	$6M	—
Q1 21	$8M	—
Q2 21	$7M	—
Q3 21	$10M	—
Q4 21	$7M	—
Q1 22	$6M	—
Q2 22	$6M	—
Q3 22	$7M	—
Q4 22	$7M	—
Q2 23	$11M	—
Q3 23	$11M	—
Q2 24	$12M	—
Q2 25	$11M	—
Q3 25	$6M	$58M
Q4 25	$12M	—

Revenue Segments

Quarter	Food And Merchandise Sales	Fuel Sales To External Customers	Product And Service Other	Product and Service, Other
Q3 20	$46M	$523M	$2M	—
Q4 20	$40M	$488M	$2M	—
Q1 21	$38M	$596M	$3M	—
Q2 21	$45M	$790M	$3M	—
Q3 21	$58M	$902M	$3M	—
Q4 21	$68M	$986M	$4M	—
Q1 22	$62M	$1.0B	$5M	—
Q2 22	$74M	$1.4B	—	$5M
Q3 22	$76M	$1.2B	—	$5M
Q4 22	$68M	$1.0B	—	$4M
Q2 23	$84M	$1.0B	—	$5M
Q3 23	$89M	$1.1B	—	$6M
Q2 24	$105M	$1.0B	—	$6M
Q2 25	$108M	$832M	—	$6M
Q3 25	$111M	$840M	—	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$11M	$11M	$23M
Q2 22	$4M	$14M	$17M
Q3 22	$12M	$17M	$29M
Q4 22	$16M	$0	$16M
Q1 23	$8M	$14M	$21M
Q2 23	$4M	$0	$4M
Q3 23	$6M	$0	$6M
Q4 23	$5M	$0	$5M
Q1 24	$6M	$0	$6M
Q2 24	$5M	$0	$5M
Q3 24	$8M	$0	$8M
Q4 24	$3M	$0	$3M
Q1 25	$7M	$0	$7M
Q2 25	$10M	$0	$10M
Q3 25	$6M	$0	$6M
Q4 25	$3M	$0	$3M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 20	38M	+0.3%	+9.9%
Q4 20	38M	-0.0%	+9.8%
Q1 21	38M	+0.1%	+5.3%
Q2 21	38M	+0.0%	+0.4%
Q3 21	38M	+0.0%	+0.1%
Q4 21	38M	+0.0%	+0.1%
Q1 22	38M	+0.1%	+0.2%
Q2 22	38M	-0.0%	+0.1%
Q3 22	39M	+2.8%	+3.0%
Q4 22	38M	-2.4%	+0.5%
Q2 23	38M	+0.2%	+0.5%
Q3 23	38M	-0.0%	+0.5%
Q2 24	38M	+0.2%	-2.1%
Q2 25	40M	+3.5%	+3.8%
Q3 25	38M	-3.2%	+0.3%
Q4 25	38M	-0.1%	+0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 20	$6M	104
Q4 20	$3M	203
Q1 21	$3M	203
Q2 21	$4M	203
Q3 21	$5M	203
Q4 21	$5M	215
Q1 22	$5M	215
Q2 22	$7M	215
Q3 22	$6M	215
Q4 22	$5M	228
Q2 23	$5M	228
Q3 23	$5M	228
Q2 24	$5M	244
Q2 25	$4M	257
Q3 25	$4M	257
Q4 25	$10M	257

Revenue / Employee