Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells home heating oil, branded and unbranded gasoline …
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Competitive advantage assessment
Key strengths
ROIC Sustainably Above PeersROIC at 73.3th percentile exceeds peers and WACC, demonstrating superior capital allocation.
Margins Stable Across CyclesOperating margin volatility is low (stability score 1.00), demonstrating pricing resilience across cycles.
How GLP-PB scores on the Corporate Default defenses
Pricing Power
Score 42
· 20% of the moat score
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 46
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 35
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 73
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 36
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 16
· 15% of the moat score
Scale matters only when it converts into economics.
What is Global Partners LP 9.50% Series's moat score?
Global Partners LP 9.50% Series (GLP-PB) scores 39 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Capital Efficiency (73/100) and its weakest is Scale & Market Position (16/100).
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.
Why is Global Partners LP 9.50% Series scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Global Partners LP 9.50% Series?
The Corporate Default template measures 6 defenses, and GLP-PB scores: Pricing Power (42), Cost Advantage (46), Customer Stickiness (35), Capital Efficiency (73), Resilience (36), Scale & Market Position (16). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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