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    Arko Petroleum (APC)

    Market Price (9/15/2026): $18.67 | Market Cap: $888.1 MilSector: Energy | Industry: Oil & Gas Refining & Marketing

    Arko Petroleum (APC)

    Market Price (9/15/2026): $18.67
    Market Cap: $888.1 Mil
    Sector: Energy
    Industry: Oil & Gas Refining & Marketing

    Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

    0

    Low stock price volatility
    Vol 12M is 33%

    Megatrend and thematic drivers
    Megatrends include US Energy Independence. Themes include US Oilfield Technologies.

    Weak multi-year price returns
    2Y Excs Rtn is -29%, 3Y Excs Rtn is -60%

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 87%

    Expensive valuation multiples
    P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 15x

    0 Low stock price volatility
    Vol 12M is 33%
    1 Megatrend and thematic drivers
    Megatrends include US Energy Independence. Themes include US Oilfield Technologies.
    2 Weak multi-year price returns
    2Y Excs Rtn is -29%, 3Y Excs Rtn is -60%
    3 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 87%
    4 Expensive valuation multiples
    P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 15x

    APC in ETFs

    Weight = APC's share of each fund

    VTI0.00%
    IWM0.01%
    IWO0.02%
    AVUV0.01%
    VTWO0.01%

    Valuation & Metrics

    FYE: 12/31APC [1]S&P 500 [2]
    REVENUE GROWTH
    LTM Revenue [3]$6.0 Bil—
    FY 2026 Sales$5.9 Bil—
    FY 2027 Sales$5.5 Bil—
    FY 2026 Sales Growth-1.4%—
    FY 2027 Sales Growth-6.4%12.8%
    EARNINGS
    LTM Net Income (GAAP) [3]$38.5 Mil—
    FY 2026 Net Income (Non-GAAP)$46.6 Mil—
    FY 2027 Net Income (Non-GAAP)$46.2 Mil—
    FY 2027 Net Income Growth-1.0%18.2%
    FY 2026 EPS (Non-GAAP)$1.01—
    FY 2027 EPS (Non-GAAP)$1.00—
    FY 2027 EPS Growth-1.0%—
    VALUATION
    FY 2026 P/S0.21.7
    FY 2027 P/S0.2—
    FY 2026 P/E19.07.7
    FY 2027 P/E19.2—

    [1] APC forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
    [2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 9/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
    [3] LTM = reported trailing-twelve-month actuals (GAAP).
    APCS&P 500
    REVENUE GROWTHGOOD
    Rev LTM ($ Bil)6.0
    Rev Chg Q27.4%9.1%
    Rev Chg LTM�8.3%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)0.1
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.0
    Op Mgn LTM1.5%18.6%
    CFO/Rev LTM1.0%21.8%
    Net Inc Mgn0.6%13.1%
    VALUATIONMODERATE
    P/S0.13.2
    P/CFO15.215.1
    P/FCF27.419.4
    P/E23.122.6
    STABILITYPOOR
    Debt/Equity0.880.20
    Cash/Assets0.010.07

    AI Analysis | Feedback

    MetricValueDateSource
    Retail Fuel Margin (in cents per gallon)43.69302025Link
    Merchandise Margin Percentage33.7%9302025Link
    Same store merchandise sales decrease (year-over-year)-3.0%6302025Link
    Same store fuel gallons sold decrease (year-over-year)-6.5%6302025Link

    Price Chart

    No Events

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 9/4/2026

    Arko Petroleum (APC) stock has remained largely at the same level since 5/31/2026 because of the following key factors:

    1. Mixed Fiscal Q2 2026 Financial Performance.

    While ARKO Petroleum's (APC) segment net income increased to $12.2 million from $10.0 million year-over-year in fiscal Q2 2026 (which ended June 30, 2026), and Adjusted EBITDA for the segment rose to $39.8 million from $38.3 million, the overall ARKO Corp. reported a 6.4% decline in Adjusted EBITDA to $72.0 million and a drop in net income to $9.4 million from $20.1 million, partly reflecting a prior-year non-cash gain. This combination of segment-level growth alongside overall consolidated declines created a mixed financial picture, contributing to the stock's largely unchanged price.

    2. Strategic Acquisition of USPP with Future Accretion.

    On August 6, 2026, the company announced an agreement to acquire U.S. Petroleum Partners (USPP), a strategic move expected to increase annual fuel volumes by approximately 280 million gallons, or 14% on a trailing twelve-month basis, and add about $30 million of annual Adjusted EBITDA. However, the acquisition involves a substantial immediate cash consideration of $205 million (plus inventory costs) and a $30 million equity earn-out structure tied to future EBITDA targets, meaning that while the deal offers long-term growth, the market is awaiting the full realization of these benefits, balancing out immediate stock appreciation.

    Show more
    Updated on 9/4/2026

    Arko Petroleum (APC) stock has remained largely at the same level since 5/31/2026 because of the following key factors:

    1. Mixed Fiscal Q2 2026 Financial Performance.

    While ARKO Petroleum's (APC) segment net income increased to $12.2 million from $10.0 million year-over-year in fiscal Q2 2026 (which ended June 30, 2026), and Adjusted EBITDA for the segment rose to $39.8 million from $38.3 million, the overall ARKO Corp. reported a 6.4% decline in Adjusted EBITDA to $72.0 million and a drop in net income to $9.4 million from $20.1 million, partly reflecting a prior-year non-cash gain. This combination of segment-level growth alongside overall consolidated declines created a mixed financial picture, contributing to the stock's largely unchanged price.

    2. Strategic Acquisition of USPP with Future Accretion.

    On August 6, 2026, the company announced an agreement to acquire U.S. Petroleum Partners (USPP), a strategic move expected to increase annual fuel volumes by approximately 280 million gallons, or 14% on a trailing twelve-month basis, and add about $30 million of annual Adjusted EBITDA. However, the acquisition involves a substantial immediate cash consideration of $205 million (plus inventory costs) and a $30 million equity earn-out structure tied to future EBITDA targets, meaning that while the deal offers long-term growth, the market is awaiting the full realization of these benefits, balancing out immediate stock appreciation.

    3. Challenging Macroeconomic Environment Impacting Fuel Volumes.

    ARKO Petroleum faced a "challenging macroeconomic environment" during fiscal Q2 2026, which contributed to a 15.1% decrease in gallons sold, despite an increase in the average price of fuel. Elevated fuel prices further pressured in-store spending and credit-card fees, impacting overall margins and partially offsetting company-specific efforts and positive segment results. These broader economic headwinds subdued the stock's performance.

    4. Balanced Analyst Sentiment and Price Targets.

    As of early September 2026, analysts maintained a "Buy" consensus rating for APC, with an average 12-month price target ranging between $21.67 and $22.75, implying moderate upside from the current trading range of $18-$19. Analyst actions were mixed, with some, like UBS on August 12, 2026, lowering price targets from $22 to $21 while maintaining a "Buy" rating, and others, such as Mizuho on July 28, 2026, raising targets from $20 to $22 while maintaining a "Neutral" rating. This cautious and balanced analyst outlook contributed to the stock remaining largely at the same level.

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    Stock Movement Drivers

    Fundamental Drivers

    The 0.7% change in APC stock from 5/31/2026 to 9/14/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
    (LTM values as of)53120269142026Change
    Stock Price ($)18.5318.670.7%
    Change Contribution By: 
    Total Revenues ($ Mil)��0.0%
    Net Income Margin (%)��0.0%
    P/E Multiple��0.0%
    Shares Outstanding (Mil)46460.0%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    5/31/2026 to 9/14/2026
    ReturnCorrelation
    APC0.7% 
    Market (SPY)0.6%-0.4%
    Sector (XLE)14.6%25.4%

    Fundamental Drivers

    The 2.2% change in APC stock from 2/28/2026 to 9/14/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.
    (LTM values as of)22820269142026Change
    Stock Price ($)18.2718.672.2%
    Change Contribution By: 
    Total Revenues ($ Mil)��0.0%
    Net Income Margin (%)��0.0%
    P/E Multiple��0.0%
    Shares Outstanding (Mil)46460.0%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    2/28/2026 to 9/14/2026
    ReturnCorrelation
    APC2.2% 
    Market (SPY)11.2%12.4%
    Sector (XLE)16.2%11.9%

    Fundamental Drivers

    null
    null

    Market Drivers

    8/31/2025 to 9/14/2026
    ReturnCorrelation
    APC  
    Market (SPY)19.0%9.8%
    Sector (XLE)46.2%13.4%

    Fundamental Drivers

    null
    null

    Market Drivers

    8/31/2023 to 9/14/2026
    ReturnCorrelation
    APC  
    Market (SPY)74.9%9.8%
    Sector (XLE)58.6%13.4%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    APC Return-----12%12%
    Peers Return25%55%23%9%25%91%524%
    S&P 500 Return27%-19%24%23%16%12%104%

    Monthly Win Rates [3]
    APC Win Rate-----62% 
    Peers Win Rate57%68%57%50%63%76% 
    S&P 500 Win Rate75%42%67%75%67%44% 

    Max Drawdowns [4]
    APC Max Drawdown------ 
    Peers Max Drawdown-27%-26%-19%-30%-28%-21% 
    S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

    [1] Cumulative total returns since the beginning of 2021
    [2] Peers: CASY, MUSA, MPC, PSX, DK.
    [3] Win Rate = % of calendar months in which monthly returns were positive
    [4] Max drawdown represents maximum peak-to-trough decline within a year
    [5] 2026 data is for the year up to 9/14/2026 (YTD)

    How Low Can It Go

    APC has limited trading history. Below is the Energy sector ETF (XLE) in its place.

    EventXLES&P 500
    2025 US Tariff Shock
      % Loss-16.3%-18.8%
      % Gain to Breakeven19.4%23.1%
      Time to Breakeven169 days79 days
    2023 SVB Regional Banking Crisis
      % Loss-14.5%-6.7%
      % Gain to Breakeven16.9%7.1%
      Time to Breakeven145 days31 days
    2020 COVID-19 Crash
      % Loss-56.3%-33.7%
      % Gain to Breakeven128.7%50.9%
      Time to Breakeven352 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-29.9%-19.2%
      % Gain to Breakeven42.6%23.8%
      Time to Breakeven1117 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-24.3%-12.2%
      % Gain to Breakeven32.0%13.9%
      Time to Breakeven98 days62 days
    2014-2016 Oil Price Collapse
      % Loss-45.4%-6.8%
      % Gain to Breakeven83.0%7.3%
      Time to Breakeven2233 days15 days

    Compare to CASY, MUSA, MPC, PSX, DK

    In The Past

    State Street Energy Select Sector SPDR ETF's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    APC has limited trading history. Below is the Energy sector ETF (XLE) in its place.

    EventXLES&P 500
    2020 COVID-19 Crash
      % Loss-56.3%-33.7%
      % Gain to Breakeven128.7%50.9%
      Time to Breakeven352 days140 days
    Q4 2018 Fed Policy Error / Growth Scare
      % Loss-29.9%-19.2%
      % Gain to Breakeven42.6%23.8%
      Time to Breakeven1117 days105 days
    2015-2016 China Devaluation / Global Growth Scare
      % Loss-24.3%-12.2%
      % Gain to Breakeven32.0%13.9%
      Time to Breakeven98 days62 days
    2014-2016 Oil Price Collapse
      % Loss-45.4%-6.8%
      % Gain to Breakeven83.0%7.3%
      Time to Breakeven2233 days15 days
    2011 US Debt Ceiling Crisis & European Contagion
      % Loss-28.8%-17.9%
      % Gain to Breakeven40.5%21.8%
      Time to Breakeven484 days123 days
    2008-2009 Global Financial Crisis
      % Loss-52.0%-53.4%
      % Gain to Breakeven108.4%114.4%
      Time to Breakeven717 days1085 days

    Compare to CASY, MUSA, MPC, PSX, DK

    In The Past

    State Street Energy Select Sector SPDR ETF's stock fell -16.3% during the 2025 US Tariff Shock. Such a loss loss requires a 19.4% gain to breakeven.

    Preserve Wealth

    Limiting losses and compounding gains is essential to preserving wealth.

    Asset Allocation

    Actively managed asset allocation strategies protect wealth. Learn more.

    About Arko Petroleum (APC)

    Anadarko Petroleum Corporation (APC) is an independent energy company primarily engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs). The company focuses on discovering new hydrocarbon reserves and developing existing properties to bring these crucial energy resources to market.

    Beyond its core exploration and production activities, Anadarko also operates a Midstream segment, providing essential services such as gathering, processing, treating, and transporting oil, natural gas, and NGLs for both its own production and third-party customers, alongside water disposal. The company's Marketing segment is responsible for selling its oil, natural gas, and NGLs to a diverse customer base across the United States and internationally, including anticipated liquefied natural gas production from Mozambique.

    Anadarko's operations span key regions including the U.S. onshore, the deepwater Gulf of Mexico, and Alaska, complemented by international holdings in countries like Colombia, Cote d'Ivoire, and Mozambique. As of December 31, 2016, the company held significant proved reserves, totaling approximately 1.7 billion barrels of oil equivalent, highlighting its substantial role in the global energy sector.

    AI Analysis | Feedback

    Anadarko Petroleum is like a global Chevron or Shell, handling the full journey from discovering new oil and gas fields to delivering them to market.

    Anadarko Petroleum is like ConocoPhillips (a major exploration and production company) that also owns its own extensive pipelines, processing plants, and sales channels.

    AI Analysis | Feedback

    • Oil and Gas Production: Engages in the exploration, development, and extraction of crude oil, natural gas, and natural gas liquids (NGLs).
    • Midstream Services: Provides gathering, processing, treating, and transportation for oil, natural gas, and NGLs, alongside the gathering and disposal of produced water.
    • Marketing and Sales of Hydrocarbons: Sells oil, natural gas, and NGLs in both domestic and international markets, including anticipated liquefied natural gas (LNG).

    AI Analysis | Feedback

    Anadarko Petroleum Corporation (symbol: APC) primarily sells its products, which include crude oil, natural gas, and natural gas liquids (NGLs), to other companies rather than directly to individuals. The provided company description does not list specific customer company names.

    However, based on its business activities in the exploration, development, production, and marketing of oil and gas, APC's major customers would typically be other businesses in the energy and industrial sectors. These generally include:

    • Oil Refiners: Companies that purchase crude oil for processing into refined products such as gasoline, diesel, and jet fuel.
    • Natural Gas Utilities and Industrial Consumers: Entities that transport and distribute natural gas to residential, commercial, and industrial customers, as well as large industrial facilities and power generation plants that use natural gas as a primary fuel or feedstock.
    • Petrochemical Companies: Businesses that utilize natural gas liquids (NGLs) like ethane, propane, and butane as feedstocks for manufacturing plastics and other chemicals.
    • Commodity Trading Firms: Companies specializing in the wholesale buying, selling, and marketing of crude oil, natural gas, and NGLs on the global market.

    AI Analysis | Feedback

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    AI Analysis | Feedback

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    AI Analysis | Feedback

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    AI Analysis | Feedback

    The global energy transition, driven by the accelerating adoption of renewable energy sources and electric vehicles, represents an emerging threat by potentially reducing long-term demand for oil and natural gas, which are Arko Petroleum's core products. Additionally, increasing global and national climate change policies and regulations aimed at decarbonization could elevate operational costs and restrict future exploration and production activities.

    AI Analysis | Feedback

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    AI Analysis | Feedback

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    AI Analysis | Feedback

    Capital Allocation Decisions for Arko Petroleum (APC)

    Share Issuance

    • Arko Petroleum Corp. completed its initial public offering (IPO) in February 2026, issuing 11,111,111 shares of Class A common stock at $18.00 per share.
    • The IPO generated approximately $200 million in gross proceeds.
    • The net proceeds from the IPO were primarily allocated to repay borrowings under its GPMP Capital One revolving credit facility, with any remaining funds designated for general corporate purposes.

    Capital Expenditures

    • Prior to its IPO, as a subsidiary of ARKO Corp., the company undertook a multi-year transformation plan that involved converting company-operated stores to dealer locations and investing in "fas craves" food-focused remodels.
    • Since mid-2024, ARKO converted 409 sites, with 256 of these conversions occurring in 2025, contributing approximately $11.8 million in incremental operating income (before general and administrative expenses) in 2025.
    • Historically, the parent company, ARKO Corp., did not differentiate between maintenance, growth, and acquisition capital expenditures for its various segments, which makes it challenging to pinpoint specific dollar amounts solely for Arko Petroleum Corp. before its spin-off.

    Peer Outperformance in Oil & Gas Refining & Marketing

    null
    Share of Oil & Gas Refining & Marketing constituents that APC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
    1Y
    —
    insufficient peer history
    3Y
    —
    insufficient peer history
    5Y
    —
    insufficient peer history
    null
    Median price return by industry across the Energy sector, ranked by 5Y. Oil & Gas Refining & Marketing is APC's own industry. Use this to see which corners of the sector have carried the returns.
    Industry Names 1Y med3Y med5Y med Top 3 by 5Y
    Oil & Gas Refining & Marketing ← 11 116.0%114.0%420.2% PBF 675% · MPC 644% · VLO 572%
    Integrated Oil & Gas 7 45.1%56.1%248.6% IMO 421% · SU 334% · CVE 313%
    Oil & Gas Storage & Transportation 18 34.1%114.6%201.3% LPG 909% · INSW 908% · TRGP 583%
    Oil & Gas Equipment & Services 34 49.6%20.7%106.2% FTI 925% · SEI 855% · TDW 693%
    Oil & Gas Exploration & Production 50 34.1%12.3%97.9% KGEI 10008% · OBE 7563% · EP 2403%
    Oil & Gas Drilling 7 56.2%-2.2%82.3% VAL 153% · PDS 150% · HP 90%
    Coal & Consumable Fuels 14 3.4%37.2%66.0% EU 829% · CNR 300% · CCJ 282%
    Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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    Financials

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Mkt Price18.67621.61527.17396.45257.0674.47326.75
    Mkt Cap0.9-9.7114.6103.14.69.7
    Rev LTM5,974-21,479153,577152,16712,05621,479
    Op Inc LTM88-94111,5346,980601941
    FCF LTM32-54212,8996,394667667
    FCF 3Y Avg--4608,4574,132852,296
    CFO LTM58-98517,1268,9251,2711,271
    CFO 3Y Avg--89311,4816,3415723,617

    Growth & Margins

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Rev Chg LTM--10.3%15.0%14.4%11.4%12.9%
    Rev Chg 3Y Avg---0.8%-0.1%0.0%-10.2%-0.5%
    Rev Chg Q27.4%-36.0%53.8%53.1%47.8%47.8%
    QoQ Delta Rev Chg LTM7.1%-9.2%13.4%13.1%12.3%12.3%
    Op Inc Chg LTM--27.2%178.3%774.7%224.2%201.3%
    Op Inc Chg 3Y Avg--4.7%26.6%215.6%-46.1%15.6%
    Op Mgn LTM1.5%-4.4%7.5%4.6%5.0%4.6%
    Op Mgn 3Y Avg--4.0%5.6%3.0%0.5%3.5%
    QoQ Delta Op Mgn LTM-0.1%-0.0%2.7%1.7%2.5%1.7%
    CFO/Rev LTM1.0%-4.6%11.2%5.9%10.5%5.9%
    CFO/Rev 3Y Avg--4.3%7.8%4.3%4.3%4.3%
    FCF/Rev LTM0.5%-2.5%8.4%4.2%5.5%4.2%
    FCF/Rev 3Y Avg--2.2%5.7%2.8%0.2%2.5%

    Valuation

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Mkt Cap0.9-9.7114.6103.14.69.7
    P/S0.1-0.50.70.70.40.5
    P/Op Inc10.1-10.39.914.87.610.1
    P/EBIT10.0-10.58.010.26.810.0
    P/E23.1-15.713.414.520.315.7
    P/CFO15.2-9.96.711.53.69.9
    Total Yield4.3%-6.8%8.5%8.8%6.3%6.8%
    Dividend Yield0.0%-0.5%1.0%1.9%1.4%1.0%
    FCF Yield 3Y Avg--5.0%13.1%6.7%-5.6%5.8%
    D/E0.9-0.30.30.20.70.3
    Net D/E0.9-0.30.20.20.60.3

    Returns

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    1M Rtn-0.5%-26.6%-7.3%11.8%10.6%13.7%5.1%
    3M Rtn-1.4%-28.7%-10.1%58.5%49.2%67.1%23.9%
    6M Rtn4.2%-7.5%14.9%74.3%50.0%82.7%32.5%
    12M Rtn10.7%12.6%35.9%123.6%102.4%172.9%69.1%
    3Y Rtn10.7%126.0%60.2%173.5%134.5%182.7%130.3%
    1M Excs Rtn2.8%-24.9%-4.0%13.8%13.4%11.3%7.1%
    3M Excs Rtn-9.2%-33.0%-17.8%48.3%41.5%55.8%16.2%
    6M Excs Rtn-7.0%-20.7%0.8%61.5%35.8%65.3%18.3%
    12M Excs Rtn-5.0%-3.1%19.0%105.4%84.0%149.9%51.5%
    3Y Excs Rtn-60.5%91.6%0.6%107.6%67.8%119.9%79.7%

    Comparison Analyses

    null

    Financials

    $ Mil | FY: 12/312026Q22026Q12025Q42025Q32025Q22025Q12024Q4
    Period End6/30/20263/31/202612/31/20259/30/20256/30/20253/31/202512/31/2024
    Filing Date8/6/20265/11/20263/30/20262/13/20268/6/20265/11/20262/13/2026
    Key Financials Quarterly       
    Total Revenue1,8391,3441,3061,4841,4431,3471,443
    Ebitda38353439372932
    Operating Income24202025241620
    Net Income1288101058
    EPS0.260.200.170.220.220.100.16
    Key Financials TTM       
    Total Revenue TTM5,9745,5785,5815,718---
    Ebitda TTM146145139137---
    Operating Income TTM88888484---
    Net Income TTM38363332---
    Growth Rates Quarterly       
    Total Revenue Growth27.4%-0.2%-9.5%----
    EBITDA Growth3.6%19.2%5.9%----
    Operating Income Growth-1.1%27.1%1.4%----
    Net Income Growth22.0%78.3%7.0%----
    Margins Quarterly       
    EBITDA Margin2.1%2.6%2.6%2.6%2.6%2.2%2.2%
    Operating Income Margin1.3%1.5%1.5%1.7%1.6%1.2%1.4%
    Net Income Margin0.7%0.6%0.6%0.7%0.7%0.3%0.5%
    Cash & Debt       
    Total Cash15221633--25
    Total Debt78375594889900755
    Net Debt / (Cash)769733932866--730
    Cash Flows Quarterly       
    FCF from Operations1071625231535
    Cash Flows TTM       
    FCF from Operations TTM58718098---
    Returns to Shareholders Quarterly       
    Dividends0000000
    Share Repurchases-0-0-0-0-0-0-0
    Return on Invested Capital (ROIC) Quarterly       
    ROIC6.9%6.0%7.6%8.1%--7.7%
    Return on Invested Capital (ROIC) TTM       
    ROIC TTM6.7%7.0%6.8%6.9%---

    Segment Financials

    Revenue by Segment
    $ Mil202520242022
    GPMP4,8485,6236,650
    Wholesale2,7532,8313,260
    Fleet Fueling484525273
    All Other50527
    Inter-segment revenues-2,554-2,663-3,104
    Total5,5816,3687,086


    Operating Income by Segment
    $ Mil202520242022
    GPMP939989
    Wholesale898085
    Fleet Fueling494921
    All Other3-00
    Depreciation and amortization, including allocated expenses  -25
    General and administrative expenses, including allocated expenses  -29
    Intercompany charges by the GPMP segment  -48
    Other expenses, net  -1
    Site operating expenses, including allocated expenses  0
    Total23322793


    Price Behavior

    null
    APC Betas & Captures as of 8/31/2026

     1M2M3M6M1Y3Y
    Beta0.67-0.00-0.090.270.00-0.13
    Up Beta0.651.020.140.46-0.170.09
    Down Beta-2.21-1.25-0.590.13-0.240.10
    Up Capture18%2%-1%17%8%1%
    Bmk +ve Days10213268138427
    Stock +ve Days92234646969
    Down Capture254%-22%10%33%5%3%
    Bmk -ve Days11213259113324
    Stock -ve Days111929606565

    [1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
    Based On 1-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with APC
    APC10.8%32.5%0.56-
    Sector ETF (XLE)48.5%21.6%1.7313.4%
    Equity (SPY)16.8%12.8%0.939.8%
    Gold (GLD)17.4%29.3%0.557.4%
    Commodities (DBC)49.5%20.6%1.851.2%
    Real Estate (VNQ)5.1%13.5%0.1236.2%
    Bitcoin (BTCUSD)-33.3%43.9%-0.803.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 5-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with APC
    APC2.1%32.5%0.56-
    Sector ETF (XLE)25.9%25.6%0.8813.4%
    Equity (SPY)12.4%17.2%0.559.8%
    Gold (GLD)18.1%18.8%0.787.4%
    Commodities (DBC)11.4%19.5%0.461.2%
    Real Estate (VNQ)0.6%18.9%-0.0736.2%
    Bitcoin (BTCUSD)9.1%52.6%0.363.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How
    Based On 10-Year Data
    Annualized
    Return    		Annualized
    Volatility    		Sharpe
    Ratio    		Correlation
    with APC
    APC1.0%32.5%0.56-
    Sector ETF (XLE)10.9%29.6%0.4013.4%
    Equity (SPY)15.2%17.9%0.729.8%
    Gold (GLD)12.1%16.4%0.617.4%
    Commodities (DBC)8.8%18.1%0.401.2%
    Real Estate (VNQ)4.7%20.7%0.1936.2%
    Bitcoin (BTCUSD)63.3%66.2%1.033.3%

    Smart multi-asset allocation framework can stack odds in your favor. Learn How

    Short Interest

    Short Interest: As Of Date8312026
    Short Interest: Shares Quantity1.0 Mil
    Short Interest: % Change Since 815202612.8%
    Average Daily Volume0.2 Mil
    Days-to-Cover Short Interest6.3 days
    Basic Shares Quantity47.6 Mil
    Short % of Basic Shares2.1%

    Earnings Returns History

    Updated 9/9/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/6/2026-1.9%-3.7%-1.6%
    5/11/20263.9%6.4%1.3%
    2/25/20261.0%2.9%-4.0%
    SUMMARY STATS   
    # Positive221
    # Negative112
    Median Positive2.4%4.6%1.3%
    Median Negative-1.9%-3.7%-2.8%
    Max Positive3.9%6.4%1.3%
    Max Negative-1.9%-3.7%-4.0%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    8/6/2026-1.9%-3.7%-1.6%
    5/11/20263.9%6.4%1.3%
    2/25/20261.0%2.9%-4.0%
    SUMMARY STATS   
    # Positive221
    # Negative112
    Median Positive2.4%4.6%1.3%
    Median Negative-1.9%-3.7%-2.8%
    Max Positive3.9%6.4%1.3%
    Max Negative-1.9%-3.7%-4.0%

    SEC Filings

    Expand for More
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/11/202610-Q
    12/31/202503/30/202610-K
    09/30/202502/13/2026424B4
     Collapse to Preview
    Report DateFiling DateFiling
    06/30/202608/06/202610-Q
    03/31/202605/11/202610-Q
    12/31/202503/30/202610-K
    09/30/202502/13/2026424B4

    Recent Forward Guidance

    Updated 8/7/2026

    Latest: Q2 2026 Earnings Reported 8/6/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 Discretionary Cash FlowReported 110.00 Mil 0 AffirmedGuidance: 110.00 Mil for 2026
    2026 New fleet fueling locationsReported 20    
    2026 Adjusted EBITDAReported 156.00 Mil 0 AffirmedGuidance: 156.00 Mil for 2026


    Prior: Q1 2026 Earnings Reported 5/11/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    Q2 2026 DividendsReported 0.5    
    2026 Discretionary Cash FlowReported 110.00 Mil    
    2026 Adjusted EBITDAReported 156.00 Mil -38.8% LoweredGuidance: 255.00 Mil for 2026

    Insider Activity

    Updated 7/2/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Blackstone, Holdings I LP See FootnotesSell511202619.0025,000475,0002,375,000Form
    2Blackstone, Holdings I LP See FootnotesBuy511202617.66100,0001,766,0002,649,000Form
    3Friedman, Avram Z DirectBuy218202618.0020,000360,000360,000Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Blackstone, Holdings I LP See FootnotesSell511202619.0025,000475,0002,375,000Form
    2Blackstone, Holdings I LP See FootnotesBuy511202617.66100,0001,766,0002,649,000Form
    3Friedman, Avram Z DirectBuy218202618.0020,000360,000360,000Form

    Investor Activity (13F)

    Updated Sep 15, 2026
    13F holdings as of Mar 31, 2026 (Q1 2026)

    Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Conversant Capital LLC$5.4 Mil0.7%16New13F
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Conversant Capital LLC$5.4 Mil0.7%16New13F
    Active Manager
    Active ManagerValue% of PortfolioTotal PositionsQoQFiling
    Conversant Capital LLC$5.4 Mil0.7%16New13F

    Industry Resources

    External Quote Links


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    Core Cache Last Updated: 9/14/2026