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    Arko Petroleum (APC)

    Market Price (11/6/2026): $14.72 | Market Cap: $700.2 MilSector: Energy | Industry: Oil & Gas Refining & Marketing

    Arko Petroleum (APC)

    Market Price (11/6/2026): $14.72
    Market Cap: $700.2 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

    Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%

    Low stock price volatility
    Vol 12M is 35%

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

    Weak multi-year price returns
    2Y Excs Rtn is -47%, 3Y Excs Rtn is -96%

    Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 109%

    0 Attractive yield
    Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%
    1 Low stock price volatility
    Vol 12M is 35%
    2 Megatrend and thematic drivers
    Megatrends include US Energy Independence. Themes include US Oilfield Technologies.
    3 Weak multi-year price returns
    2Y Excs Rtn is -47%, 3Y Excs Rtn is -96%
    4 Debt is significant
    Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 109%

    APC in ETFs

    Weight = APC's share of each fund

    VTI0.00%
    IWM0.01%
    IWO0.01%
    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$6.4 Bil—
    FY 2027 Sales$6.3 Bil—
    FY 2026 Sales Growth6.9%—
    FY 2027 Sales Growth-1.8%8.7%
    EARNINGS
    LTM Net Income (GAAP) [3]$38.5 Mil—
    FY 2026 Net Income (Non-GAAP)$35.2 Mil—
    FY 2027 Net Income (Non-GAAP)$32.2 Mil—
    FY 2027 Net Income Growth-8.6%13.9%
    FY 2026 EPS (Non-GAAP)$1.01—
    FY 2027 EPS (Non-GAAP)$0.92—
    FY 2027 EPS Growth-8.6%—
    VALUATION
    FY 2026 P/S0.11.7
    FY 2027 P/S0.1—
    FY 2026 P/E19.98.7
    FY 2027 P/E21.8—

    [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 11/30/27 (~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%8.9%
    Rev Chg LTM�8.6%
    PROFITABILITYVERY POOR
    Op Inc LTM ($ Bil)0.1
    CFO LTM ($ Bil)0.1
    Net Inc LTM ($ Bil)0.0
    Op Mgn LTM1.5%18.9%
    CFO/Rev LTM1.0%21.5%
    Net Inc Mgn0.6%13.5%
    VALUATIONMODERATE
    P/S0.13.3
    P/CFO12.015.7
    P/FCF21.620.6
    P/E18.222.9
    STABILITYPOOR
    Debt/Equity1.120.19
    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

    Upcoming
    11/04/2026Earnings ReleaseRev: $1.0 Bil (A) vs. $1.0 Bil (E)
    EPS: 0.28 (A) vs. $0.29 (E)

    Why The Stock Moved

    Qualitative Assessment

    AI Analysis | Feedback

    Updated on 11/5/2026

    Arko Petroleum (APC) stock has lost about 25% since 7/31/2026 because of the following key factors:

    1. Disappointing Q2 Fiscal 2026 Earnings and Unchanged Guidance.

    On August 6, 2026, Arko Petroleum reported its financial results for fiscal Q2 2026 (which ended June 30, 2026). Despite reporting a 22% increase in net income to $12.2 million and a 4% rise in Adjusted EBITDA to $39.8 million, shares fell 3.33% after-hours. The market reacted negatively to a decline in operating cash flow to $10.4 million due to working capital needs and the company's decision to maintain its full-year 2026 Adjusted EBITDA guidance at approximately $156 million. This muted outlook, despite some positive figures, likely signaled underlying concerns to investors and contributed to the stock's downward trend in early fiscal Q3 2026.

    2. Broader Macroeconomic Headwinds and Geopolitical Instability in the Oil and Gas Sector.

    The period since July 31, 2026, coincided with significant macroeconomic pressures on the global oil and gas industry. The International Energy Agency (IEA) in its August 2026 Oil Market Report projected a decline in world oil demand by 1.6 million barrels per day (mb/d) in 2026, a forecast that was further revised to a 2.5 mb/d decline in its September 2026 report. These bearish forecasts were attributed to factors such as the ongoing closure of the Strait of Hormuz, elevated fuel prices, and geopolitical uncertainties, including the US-Iran diplomatic standoff. Arko Petroleum itself cited "significant volatility in the fuel market due to the geopolitical environment" as a factor impacting its Q3 Fiscal 2026 results. Such broad industry challenges likely created a negative sentiment for oil and gas companies, including Arko Petroleum, during fiscal Q3 and early fiscal Q4 2026.

    Show more
    Updated on 11/5/2026

    Arko Petroleum (APC) stock has lost about 25% since 7/31/2026 because of the following key factors:

    1. Disappointing Q2 Fiscal 2026 Earnings and Unchanged Guidance.

    On August 6, 2026, Arko Petroleum reported its financial results for fiscal Q2 2026 (which ended June 30, 2026). Despite reporting a 22% increase in net income to $12.2 million and a 4% rise in Adjusted EBITDA to $39.8 million, shares fell 3.33% after-hours. The market reacted negatively to a decline in operating cash flow to $10.4 million due to working capital needs and the company's decision to maintain its full-year 2026 Adjusted EBITDA guidance at approximately $156 million. This muted outlook, despite some positive figures, likely signaled underlying concerns to investors and contributed to the stock's downward trend in early fiscal Q3 2026.

    2. Broader Macroeconomic Headwinds and Geopolitical Instability in the Oil and Gas Sector.

    The period since July 31, 2026, coincided with significant macroeconomic pressures on the global oil and gas industry. The International Energy Agency (IEA) in its August 2026 Oil Market Report projected a decline in world oil demand by 1.6 million barrels per day (mb/d) in 2026, a forecast that was further revised to a 2.5 mb/d decline in its September 2026 report. These bearish forecasts were attributed to factors such as the ongoing closure of the Strait of Hormuz, elevated fuel prices, and geopolitical uncertainties, including the US-Iran diplomatic standoff. Arko Petroleum itself cited "significant volatility in the fuel market due to the geopolitical environment" as a factor impacting its Q3 Fiscal 2026 results. Such broad industry challenges likely created a negative sentiment for oil and gas companies, including Arko Petroleum, during fiscal Q3 and early fiscal Q4 2026.

    3. Investor Uncertainty Surrounding the USPP Acquisition Structure.

    On August 4, 2026, Arko Petroleum announced the acquisition of U.S. Petroleum Partners (USPP). The terms of the deal included $205 million in cash, the value of inventory at closing, and an additional $30 million in Arko Class A common stock to be held in escrow. While the acquisition is strategically aimed at adding approximately $30 million of annualized Adjusted EBITDA and 280 million gallons of annual fuel volume, the inclusion of a substantial stock component in the acquisition, coupled with the deal's expected closing in fiscal Q4 2026, could have introduced investor apprehension regarding potential dilution and integration risks during fiscal Q3 2026, particularly given the prevailing market volatility.

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    Stock Movement Drivers

    Fundamental Drivers

    The -25.3% change in APC stock from 7/31/2026 to 11/5/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
    (LTM values as of)731202611052026Change
    Stock Price ($)19.7814.77-25.3%
    Change Contribution By: 
    Total Revenues ($ 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

    7/31/2026 to 11/5/2026
    ReturnCorrelation
    APC-25.3% 
    Market (SPY)-1.9%-24.0%
    Sector (XLE)3.5%6.1%

    Fundamental Drivers

    The -18.9% change in APC stock from 4/30/2026 to 11/5/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).
    (LTM values as of)430202611052026Change
    Stock Price ($)18.2114.77-18.9%
    Change Contribution By: 
    Total Revenues ($ Mil)5,581�0.0%
    Net Income Margin (%)0.6%�0.0%
    P/E Multiple25.7�0.0%
    Shares Outstanding (Mil)46460.0%
    Cumulative Contribution0.0%

    LTM = Last Twelve Months as of date shown

    Market Drivers

    4/30/2026 to 11/5/2026
    ReturnCorrelation
    APC-18.9% 
    Market (SPY)2.3%-16.3%
    Sector (XLE)4.1%23.3%

    Fundamental Drivers

    null
    null

    Market Drivers

    10/31/2025 to 11/5/2026
    ReturnCorrelation
    APC  
    Market (SPY)8.4%-4.1%
    Sector (XLE)43.0%15.1%

    Fundamental Drivers

    null
    null

    Market Drivers

    10/31/2023 to 11/5/2026
    ReturnCorrelation
    APC  
    Market (SPY)81.3%-4.1%
    Sector (XLE)58.1%15.1%

    Return vs. Risk

    Price Returns Compared

     202120222023202420252026Total [1]
    Returns
    APC Return------12%-12%
    Peers Return25%55%23%9%25%80%487%
    S&P 500 Return27%-19%24%23%16%12%105%

    Monthly Win Rates [3]
    APC Win Rate-----50% 
    Peers Win Rate57%68%57%50%63%69% 
    S&P 500 Win Rate75%42%67%75%67%45% 

    Max Drawdowns [4]
    APC Max Drawdown------ 
    Peers Max Drawdown-27%-26%-19%-30%-28%-24% 
    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 11/5/2026 (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 Breakeven19.5%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 19.5% 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 19.5% 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.

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    Peer Comparisons

    Peers to compare with:

    Financials

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Mkt Price14.72680.96511.51377.57245.7062.50311.63
    Mkt Cap0.725.29.3105.397.53.817.3
    Rev LTM5,97418,67223,259174,800168,19212,05620,966
    Op Inc LTM881,09798719,85612,4576011,042
    FCF LTM3264966820,84212,358667667
    FCF 3Y Avg-56948810,1485,63585569
    CFO LTM581,3891,14925,24915,0281,2711,330
    CFO 3Y Avg-1,17294613,4077,8735721,172

    Growth & Margins

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Rev Chg LTM-13.8%20.2%31.2%27.5%11.4%20.2%
    Rev Chg 3Y Avg-8.8%2.8%6.2%5.2%-10.2%5.2%
    Rev Chg Q27.4%24.3%34.8%61.0%46.4%47.8%40.6%
    QoQ Delta Rev Chg LTM7.1%6.3%8.3%13.8%10.5%12.3%9.4%
    Op Inc Chg LTM-29.1%34.8%319.4%625.1%224.2%224.2%
    Op Inc Chg 3Y Avg-18.9%9.4%78.7%171.9%-46.1%18.9%
    Op Mgn LTM1.5%5.9%4.2%11.4%7.4%5.0%5.4%
    Op Mgn 3Y Avg-5.3%3.9%6.4%3.7%0.5%3.9%
    QoQ Delta Op Mgn LTM-0.1%-0.0%-0.1%3.8%2.8%2.5%1.3%
    CFO/Rev LTM1.0%7.4%4.9%14.4%8.9%10.5%8.2%
    CFO/Rev 3Y Avg-7.0%4.5%8.4%5.0%4.3%5.0%
    FCF/Rev LTM0.5%3.5%2.9%11.9%7.3%5.5%4.5%
    FCF/Rev 3Y Avg-3.4%2.3%6.3%3.5%0.2%3.4%

    Valuation

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    Mkt Cap0.725.29.3105.397.53.817.3
    P/S0.11.30.40.60.60.30.5
    P/Op Inc8.022.99.55.37.86.47.9
    P/EBIT7.922.99.54.85.75.76.8
    P/E18.232.614.17.27.817.115.6
    P/CFO12.018.18.14.26.53.07.3
    Total Yield5.5%3.4%7.6%15.0%14.9%7.5%7.5%
    Dividend Yield0.0%0.3%0.5%1.1%2.0%1.6%0.8%
    FCF Yield 3Y Avg-3.0%5.5%12.0%6.8%2.3%5.5%
    D/E1.10.10.30.30.20.80.3
    Net D/E1.10.10.30.20.10.70.2

    Returns

    APCCASYMUSAMPCPSXDKMedian
    NameArko Pet.Casey's .Murphy U.Marathon.Phillips.Delek US  
    1M Rtn-9.8%9.8%-0.2%-12.7%-8.9%-17.4%-9.4%
    3M Rtn-23.7%-18.1%-4.4%26.5%20.2%6.5%1.1%
    6M Rtn-20.7%-19.8%-11.6%56.9%47.8%40.3%14.4%
    12M Rtn-12.7%30.0%40.7%106.2%86.1%65.2%53.0%
    3Y Rtn-12.7%152.9%38.7%167.2%132.1%173.7%142.5%
    1M Excs Rtn-7.9%9.1%1.6%-13.2%-8.1%-15.7%-8.0%
    3M Excs Rtn-21.4%-17.4%-0.5%27.9%22.0%7.8%3.6%
    6M Excs Rtn-25.5%-24.6%-16.4%52.1%43.1%35.6%9.6%
    12M Excs Rtn-26.2%17.3%27.0%95.3%72.9%52.4%39.7%
    3Y Excs Rtn-95.8%71.5%-39.6%81.5%54.9%84.6%63.2%

    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

    Price Behavior
    Market Price$14.77 
    Market Cap ($ Bil)0.7 
    First Trading Date12/29/2006 
    Distance from 52W High-29.7% 
       50 Days200 Days
    DMA Price$16.70 
    DMA Trenddown 
    Distance from DMA-11.6% 
     3M1YR
    Volatility37.5%35.0%
    Downside Capture143.28 
    Upside Capture-47.83 
    Correlation (S&P 500)-2.1% 
    APC Betas & Captures as of 10/31/2026

     1M2M3M6M1Y3Y
    Beta0.090.000.20-0.070.05-0.04
    Up Beta4.76-1.13-0.07-0.040.03-0.26
    Down Beta-0.80-1.08-1.21-0.47-0.300.01
    Up Capture31%-17%-5%-14%6%1%
    Bmk +ve Days12182862130427
    Stock +ve Days121928628888
    Down Capture12%128%152%40%34%20%
    Bmk -ve Days10253664121325
    Stock -ve Days102435638989

    [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
    APC-12.5%35.0%-0.47-
    Sector ETF (XLE)44.8%23.4%1.5015.1%
    Equity (SPY)9.5%13.6%0.41-4.1%
    Gold (GLD)3.6%28.7%0.117.2%
    Commodities (DBC)37.7%21.2%1.407.5%
    Real Estate (VNQ)12.0%14.2%0.5523.9%
    Bitcoin (BTCUSD)-20.8%43.3%-0.420.1%

    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
    APC-2.6%35.0%-0.47-
    Sector ETF (XLE)20.4%25.6%0.7015.1%
    Equity (SPY)11.3%17.3%0.48-4.1%
    Gold (GLD)17.5%19.1%0.747.2%
    Commodities (DBC)8.0%19.6%0.297.5%
    Real Estate (VNQ)1.2%18.9%-0.0523.9%
    Bitcoin (BTCUSD)5.9%51.5%0.290.1%

    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
    APC-1.3%35.0%-0.47-
    Sector ETF (XLE)10.2%29.7%0.3815.1%
    Equity (SPY)14.9%18.0%0.70-4.1%
    Gold (GLD)12.0%16.5%0.597.2%
    Commodities (DBC)7.6%18.1%0.337.5%
    Real Estate (VNQ)5.7%20.7%0.2323.9%
    Bitcoin (BTCUSD)61.3%66.2%1.010.1%

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

    Short Interest

    Short Interest: As Of Date10152026
    Short Interest: Shares Quantity0.8 Mil
    Short Interest: % Change Since 9302026-3.6%
    Average Daily Volume0.1 Mil
    Days-to-Cover Short Interest5.4 days
    Basic Shares Quantity47.6 Mil
    Short % of Basic Shares1.6%

    Earnings Returns History

    Updated 11/6/2026
    Expand for More
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    11/4/20267.5%  
    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   
    # Positive321
    # Negative112
    Median Positive3.9%4.6%1.3%
    Median Negative-1.9%-3.7%-2.8%
    Max Positive7.5%6.4%1.3%
    Max Negative-1.9%-3.7%-4.0%
     Collapse to Preview
     Forward Returns
    Earnings Date1D Returns5D Returns21D Returns
    11/4/20267.5%  
    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   
    # Positive321
    # Negative112
    Median Positive3.9%4.6%1.3%
    Median Negative-1.9%-3.7%-2.8%
    Max Positive7.5%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 11/5/2026

    Latest: Q3 2026 Earnings Reported 11/4/2026

    Forward GuidanceGuidance Change
    MetricSourceLowMidHigh% Chg% DeltaChangePrior
    2026 Annual Dividend RateReported 2    
    2026 Acquisition Annual Fuel VolumeReported 280.00 Mil    
    2026 Adjusted EBITDAReported156.00 Mil156.50 Mil157.00 Mil0.3% RaisedGuidance: 156.00 Mil for 2026
    2026 Acquisition Annualized Adjusted EBITDA ContributionReported 30.00 Mil    


    Prior: 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

    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 10/2/2026
    Expand for More
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Blackstone, Holdings I LP See FootnotesSell928202616.40124,600  Form
    2Blackstone, Holdings I LP See FootnotesSell928202617.024006,8082,120,692Form
    3Blackstone, Holdings I LP See FootnotesSell511202619.0025,000475,0002,375,000Form
    4Blackstone, Holdings I LP See FootnotesBuy511202617.66100,0001,766,0002,649,000Form
    5Friedman, Avram Z DirectBuy218202618.0020,000360,000360,000Form
     Collapse to Preview
    #OwnerTitleHoldingActionFiling DatePriceSharesTransacted
    Value    		Value of
    Held Shares    		Form
    1Blackstone, Holdings I LP See FootnotesSell928202616.40124,600  Form
    2Blackstone, Holdings I LP See FootnotesSell928202617.024006,8082,120,692Form
    3Blackstone, Holdings I LP See FootnotesSell511202619.0025,000475,0002,375,000Form
    4Blackstone, Holdings I LP See FootnotesBuy511202617.66100,0001,766,0002,649,000Form
    5Friedman, Avram Z DirectBuy218202618.0020,000360,000360,000Form

    Investor Activity (13F)

    Updated Nov 6, 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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