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CrossAmerica Partners LP (CAPL) Fair Value & Analysis

Energy · US · Market cap $819M

CP CrossAmerica Partners LP logo CrossAmerica Partners LP CAPL · US
Price$21.41
Fair Value$22.80
Upside+6.5%
Quality62/100
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Healthy Growth
Thin margins · 1.8% net margin
Negative equity (buybacks among others) · generates free cash flow
9.65% dividend yield
Mixed vs. peers (7/13)
Narrow moat 40/100
Evidence: High Range $13.98 – $34.43 Share as image

Fair value as of: Jul 15, 2026

From 21 valuation models · updated 26 days ago

Share price −5.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range ($13.98 to $34.43) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$23.01 $11.00 Fair Value $22.80 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range $11.00 – $23.01 · fair‑value band $13.98 – $34.43 · the $21.41 price screens below the $22.80 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

CrossAmerica Partners LP (CAPL) currently trades at $21.41, while our model-based Fair Value estimate is $22.80, implying the stock looks roughly 6.5% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, CrossAmerica Partners LP generated revenue of $3.3B at a net margin of 1.8%. Revenue declined 2.0% year over year. It earns a return on equity of 75.2%. Net debt stands at $905M. Fundamentals as of Jul 15, 2026

Our scenario range runs from $13.98 (bear case) to $34.43 (bull case); at $21.41, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at 6%, CAPL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $3.05 80
Rev-Margin DCF $13.78 $33.47 $54.74 74
ROIC Compounder $21.89 $28.38 $34.51 72
All 21 models by family
DCF Models
FCF DCF $3.61 38
Owner Earnings $3.67 $10.22 $19.01 31
5Y Revenue Exit $13.78 $33.47 $58.94 39
5Y EBITDA Exit $4.87 $18.03 $33.33 41
5Y P/E Exit $2.49 38
10Y Revenue Exit $4.23 $19.12 $37.24 36
10Y EBITDA Exit $0.3400 $9.72 $20.89 37
10Y P/E Exit $1.19 35
Earnings-Based
Graham-Dodd $7.46 $14.75 $18.50 54
EPV $21.02 $26.32 $30.75 59
Dividend Discount
Gordon GGM $16.35 $21.88 $26.93 70
DDM Multi-Stage $16.35 $21.68 $27.13 61
Multiples
P/E Multiple $11.51 $15.35 $19.19 63
P/S Multiple $13.98 $18.64 $23.30 58
EV/EBIT $22.64 $36.15 $49.66 53
EV/EBITDA $16.99 $28.62 $40.25 54
EV/Revenue $31.29 $52.37 $73.45 43
Growth DCF
Growth DCF $3.05 80
Rev-Margin DCF $13.78 $33.47 $54.74 74
Economic Profit
ROIC Compounder $21.89 $28.38 $34.51 72
Growth Earnings
Growth-Adj P/E $8.52 $12.18 $15.83 68

Widest divergence: Growth DCF ($33.47) versus Growth Earnings ($12.18). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $3.3B
Revenue growth (YoY) -2.0%
Net margin 1.8%
Return on equity 75.2%
Free cash flow $55.8M FY2025
P/E ratio 14.5
More key figures
Operating margin 2.5%
EPS (TTM) $1.48
Dividend yield 9.7%
EPS growth (YoY) -40.5%
Net debt $905M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 59 · Market factors (momentum, volatility) 62

Profitability 55
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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. The company operates in two segments, Wholesale and Retail.

Full company description

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. The company operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers and independent dealers. The Retail segment is involved in the sale of convenience merchandise; and retail sale of motor fuels at company operated retail sites and retail sites operated by commission agents. CrossAmerica GP LLC operates as the general partner of the company. The company was formerly known as Lehigh Gas Partners LP and changed its name to CrossAmerica Partners LP in October 2014. The company was founded in 1992 and is based in Allentown, Pennsylvania.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CrossAmerica Partners LP reported revenue of $3.7B in FY2025 versus $3.6B in FY2021, a compound +0.6%/yr. Reported net income was $41.8M in FY2025, compounding +17.9%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$3.7B
Avg. growth/yr (3Y)
+4.6%
Avg. growth/yr (5Y)
+13.8%
Avg. growth/yr (14Y)
+9.2%
Revenue +0.6%/yr
FY21 $3.6B
FY22 $5.0B
FY23 $4.4B
FY24 $4.1B
FY25 $3.7B
Net income +17.9%/yr
FY21 $21.7M
FY22 $62.0M
FY23 $40.1M
FY24 $19.9M
FY25 $41.8M

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Cite: Fair Value Calculator (2026). "CrossAmerica Partners LP Fair Value". https://www.fairvalue-calculator.com/stock/CAPL

Peer Group

Oil & Gas Refining & Marketing · 114 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 62 · Top 25%
Fair Value upside +7% · Above median
Return on equity (TTM) 75% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -2% · Below median
Dividend yield (TTM) 9.7% · Top 25%

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 14.5× · Pricier than median
P/S (TTM) 0.25× · Cheaper than median
P/FCF 14.7× · Pricier than 75% of peers
EV/EBITDA 9.7× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 42 · sector 15
FUTURE 0 · sector 15
PAST 100 · sector 32
HEALTH 100 · sector 80
DIVIDEND 100 · sector 50

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

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Reliance Industries Limited RELIANCE ₹1,293 ₹835.66 -35%
Valero Energy Corporation VLO $309.65 $127.32 -59%
Marathon Petroleum Corporation MPC $283.74 $135.80 -52%
Phillips 66 PSX $196.16 $101.04 -48%
Neste Oyj NESTE €31.10 €4.07 -87%
Formosa Petrochemical Corporation 6505 81.30 TWD 16.68 TWD -79%
Indian Oil Corporation IOC ₹138.96 ₹417.35 +200%
HF Sinclair Corporation DINO $88.59 $48.90 -45%
Bharat Petroleum Corporation BPCL ₹315.55 ₹846.81 +168%
SK Innovation Co 096770 121,400 KRW 58,865 KRW -52%

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Frequently asked questions

Is CrossAmerica Partners LP (CAPL) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $22.80 versus a price of $21.41, about +6% (fairly valued).
What is the fair value of CAPL?
Our model-based fair value for CrossAmerica Partners LP is $22.80 (as of Jul 15, 2026), built from audited fundamentals. The current price is $21.41.
What is the quality score of CAPL?
CrossAmerica Partners LP has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CrossAmerica Partners LP (CAPL)?
CrossAmerica Partners LP reported trailing-twelve-month revenue of about $3.3B (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CAPL?
The net profit margin of CrossAmerica Partners LP is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does CrossAmerica Partners LP pay a dividend?
CrossAmerica Partners LP currently shows a dividend yield of about 9.65% relative to its recent price (as of Jul 15, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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