Global Partners LP

How Do They Make Money?

revenue

Segment	Share	Revenue
Petroleum and related product sales	95% FY2022: 96%
Convenience store and prepared food sales, rental income and sundries	5.3% FY2022: 4.3%

Yes. It kept 1 cent of every revenue dollar as net income in FY2025 and turned 1 cent into free cash flow.

Operating income, FY2025

1% of revenue

▼ −7% vs FY2024 ($251.2M, 1%)

Net income, FY2025

1% of revenue

▼ −11% vs FY2024 ($110.3M, 1%)

Free cash flow, FY2025

1% of revenue

▲ Now profitable vs FY2024 (−$71.7M, 0%)

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Petroleum and related product sales share of total revenue from contracts with customers vs 94.2% in Q2 FY2025

Growing. Revenue grew 40% in 4 years, from $13.2B in FY2021 to $18.6B in FY2025, about 9% a year.

Revenue over time

Petroleum and related product sales Convenience store and prepared food sales, rental income and sundries

$20B$10B$0

FY2021 FY2022 FY2023 FY2024 FY2025