CAPL sits just below the engine's quality floor despite strong cash conversion and a technical breakout, with a flagged yield-trap warning the central risk to the distribution thesis.
Thesis pillars
- Near Quality Floor→Stable
- Earnings Beat Streak→Stable
- Yield Trap Warning→Stable
- +1 more pillar — see the Why tab for full reasoning
CrossAmerica Partners LP (CAPL) Stock Analysis
Breakout setup · Catalyst-Driven edge
Energy · Oil & Gas Refining & Marketing
Sell if holding. Engine safety override at $22.66: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: Below-average business quality.
CrossAmerica Partners is a Delaware limited partnership engaged in the wholesale distribution of motor fuel and ownership and leasing of real estate used in retail motor fuel distribution, operating through retail and wholesale segments across approximately 1,600 sites in 34... Read more
Sell if holding. Engine safety override at $22.66: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Score 4.9/10, moderate confidence.
Passes 7/8 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 29d clear, semi cycle peak clear, materials cycle peak clear). Suitability: aggressive.
About CrossAmerica Partners LP
About CrossAmerica Partners LP
CrossAmerica Partners distributed 1,231 million gallons of motor fuel in 2025 across roughly 1,600 sites in 34 states, generating $1,568 million in wholesale segment revenue and $2,095 million in retail segment revenue. The partnership operates through retail and wholesale segments, owns or leases approximately 1,000 of those sites, and is controlled by the Topper Group, which holds a 38.5% limited partner interest and appoints the entire board.
CrossAmerica earns wholesale margin distributing branded motor fuel, about 95% of 2025 volume, under the Exxon, Mobil, BP, Shell, Marathon, Valero and Phillips 66 brands to independent dealers and lessee dealers, while its retail segment sells fuel and convenience merchandise at 352 company-operated sites and collects rent from commission agents. Motor fuel revenue made up 87% of total revenue in 2025 but only 55% of gross profit, since fuel margins run thinner than the partnership's real estate and merchandise lines; food and merchandise sales reached $407 million and rental income totaled $62.5 million across 623 sites. The partnership purchased approximately 79% of its 2025 motor fuel from four suppliers under long-term supply agreements averaging 5.6 years, and depends on a single principal supplier for its merchandise.
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CrossAmerica's dependence on four suppliers for 79% of its motor fuel is a distinct risk from ordinary commodity price swings: the 10-K states that negative developments at any of its branded suppliers, or a supplier's decision to distribute directly to CrossAmerica's own wholesale customers, could each pressure revenue independent of crude-oil price movements. Because wholesale motor fuel costs move directly with crude oil, which the filing ties to factors including the Ukraine and Middle East conflicts and Venezuela-related developments, and because credit-card fees are charged as a percentage of the transaction amount rather than a fixed fee, a period of elevated fuel prices can raise costs without proportionally raising gross profit.
See also: Energy · Oil & Gas Refining & Marketing
From CrossAmerica Partners LP's most recent 10-K filing, extracted July 6, 2026.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHSupplierfour suppliers79%10-K Item 1: 'For 2025, we purchased approximately 79% of our motor fuel from four suppliers.'
- HIGHSupplierone principal supplier10-K Item 1A: 'We depend on four principal suppliers for the majority of our motor fuel and one principal supplier for our merchandise.'
- HIGHCommoditymotor fuel87%10-K Item 1A: 'For 2025, motor fuel revenues accounted for 87% of our total revenues and motor fuel gross profit accounted for 55% of total gross profit.'
- HIGHProductbranded motor fuel95%10-K Item 1: 'approximately 95% of the motor fuel we distributed during 2025 was branded'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
3 floor-breakers
Revenue shrinking — -2.0% YoY. Growth thesis broken unless recovery story develops.static
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $22.66: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 4.9/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 64, MACD bullish. Prior stop was $21.66. Score 4.9/10, moderate confidence.
Take-profit target: $22.39 (-1.2% upside). Prior stop was $21.66. Stop-loss: $21.66.
Concentration risk — Supplier: four suppliers (79.0%); Concentration risk — Supplier: one principal supplier; Quality below floor (3.5 < 4.0).
CrossAmerica Partners LP trades at a P/E of 15.2 (forward 26.4). TrendMatrix value score: 5.9/10. Verdict: Sell.
6 analysts cover CAPL with a consensus score of 2.2/5.
What does CrossAmerica Partners LP do?CrossAmerica Partners is a Delaware limited partnership engaged in the wholesale distribution of motor fuel and...
CrossAmerica Partners is a Delaware limited partnership engaged in the wholesale distribution of motor fuel and ownership and leasing of real estate used in retail motor fuel distribution, operating through retail and wholesale segments across approximately 1,600 sites in 34 states. The company distributed 1,231 million gallons of motor fuel in 2025 under Exxon, Mobil, BP, Marathon, Shell, Valero and Phillips 66 brands, generating $1,568 million in wholesale segment revenue and $2,095 million in retail segment revenue. The partnership is controlled by the Topper Group, which also holds a 38.5%