Sunoco LP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Sunoco LP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	9,986	11,723	16,994	16,596	10,710	17,596	25,729	23,068	22,693	25,201
Cost of revenue	8,830	10,615	15,872	15,380	9,654	16,246	24,350	21,703	20,595	22,409
Gross profit	1,156	1,108	1,122	1,216	1,056	1,350	1,379	1,365	2,098	2,792
General and administrative	155	140	141	136	112	109	120	126	277	296
Operating expenses	1,011	879	777	752	639	601
Operating income	145	229	345	464	417	749	678	635	791	935
Interest expense	189	209	144	173	175	163	182	217	391	541
Other non-operating income							1	7	5	83
Pre-tax income	-16	20	92	296	236
Income tax	-72	-306	34	-17	24	30	26	36	175	62
Net income to minority interests	0	0					0	0	8	0
Net income	-406	149	-207	313	212	524	475	394	866	527
EBITDA	464	398	527	647	606	926	871	822	1,159	1,623

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	103	28	56	21	97	25	82	29	94	891
Receivables	539	541	374	399	295	526	890	856	1,162	1,972
Inventory	423	426	374	419	382	534	821	889	1,068	2,383
Other current assets	73	81	64	73	62	95	175	133	141	270
Total current assets	1,318	4,544	905	924	847	1,192	1,983	1,927	2,465	5,516
Property, plant and equipment	1,584	1,557	1,546	1,442	1,425	1,667	1,760	1,836	7,674	13,408
Lease right-of-use assets			0	533	536	517	524	506	477	1,449
Goodwill	1,550	1,430	1,559	1,555	1,564	1,568	1,601	1,599	1,477	3,026
Intangible assets	775	768	708	646	588	542	588	544	547	2,411
Other non-current assets	63	45	161	188	168	188	245	290	400	928
Total assets	8,701	8,344	4,879	5,438	5,267	5,815	6,830	6,826	14,375	28,362
Accounts payable	616	559	412	445	267	515	966	828	1,255	2,485
Accrued liabilities	372	368	299	219	282	291	310	353	457	953
Deferred revenue								0	17	102
Short-term debt	5	6	5	11	6	6	0	0	2	17
Total current liabilities	1,102	1,214	865	744	653	890	1,406	1,373	1,947	3,997
Long-term debt	4,509	4,284	2,980	3,060	3,106	3,249	3,571	3,580	7,484	13,372
Lease liabilities			0	530	538	521	528	511	479	1,255
Other non-current liabilities	116	125	123	97	109	104	111	116	158	512
Total liabilities	6,505	6,097	4,095	4,680	4,635	5,004	5,888	5,848	10,307	20,353
Total debt	3,509	3,519	2,280	2,898	3,106	2,668	3,571	3,580	7,484	13,372
Other comprehensive income								0	2	-6
Total liabilities and equity	8,701	8,344	4,879	5,438	5,267	5,815	6,830	6,826	14,375	28,362

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-406	149	-207	313	212	524	475	394	874	527
Depreciation and amortization	319	169	182	183	189	177	193	187	368	688
Stock-based compensation	13	24	12	13	14	16	14	17	17	19
Deferred income tax	-8	-308	6	6	5	10	28	13	-14	38
Change in receivables	-215	-1	201	44	104	-231	-312	34	-212	212
Change in inventory	18	21	-11	-26	-45	38	-172	-182	-265	-275
Change in payables	221	-44	-123	72	-163	296	390	61	29	129
Cash from operations	466	303	447	435	502	543	561	600	549	1,192
Capital expenditures	-439	-177	-103	-148	-124	-157	-186	-215	-344	-577
Acquisitions		0	-401	-5	-12	-256	-318	-111
Cash from investing	-331	-132	-469	-164	-120	-387	-464	-288	477	-2,807
Debt issued	2,835	0	2,200	600	800	800	0	500	1,500
Debt repaid	-808	-5	-3,450	-9	-590	-1,252	0	0	-421
Share buybacks		0	-540	0	0
Cash from financing	2,501	-339	-2,684	-306	-306	-228	-40	-365	-961	2,412
Net change in cash	51	-75	28	-35	76	-72	57	-53	65	797
Free cash flow	27	126	344	287	378	386	375	385	205	615
Interest paid	167	209	140	161	162	174	176	202	339	434
Income taxes paid	-30	-1	501	38	58	14	30	29	135

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $74.76 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.9%	Gross profit / revenue.
Operating margin	4.8%	Operating income / revenue.
EBITDA margin	7.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	2.9%	Net income / revenue.
Operating cash flow margin	5.9%	Cash from operations / revenue.
Return on assets (ROA)	3.9%	Net income / average total assets.
Stock-based pay / revenue	0.1%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	18.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	33.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	26.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	21.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	18.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	11.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	17.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	40.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	23.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	21.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-39.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	20.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	117.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	28.6%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	18.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	200.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	17.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	10.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	97.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	60.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	40.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.29x	Current assets / current liabilities.
Quick ratio	0.77x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.15x	(Cash + short-term investments) / current liabilities.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	72.1%	Total liabilities / total assets.
Net debt	-$767.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.27x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.69x	Operating income / interest expense.
Working capital	$1.52B	Current assets - current liabilities.
Goodwill and intangibles / assets	18.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.32x	Revenue / average total assets.
Fixed asset turnover	2.90x	Revenue / average property, plant and equipment.
Inventory turnover	14.6x	Cost of revenue / average inventory.
Days inventory	25 days	365 x average inventory / cost of revenue.
Receivables turnover	12.1x	Revenue / average receivables.
Days sales outstanding	30 days	365 x average receivables / revenue.
Days payables	37 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	18 days	Days inventory + days sales outstanding - days payables.

Valuation

Metric	Value	How it is calculated
Market cap	$15.31B	Share price x shares outstanding.
Enterprise value	$14.55B	Market cap + total debt - cash - short-term investments.
P/E	13.2x	Market cap / net income. Only when net income is positive.
P/S	0.39x	Market cap / revenue.
P/OCF	6.52x	Market cap / cash from operations, when positive.
EV/Sales	0.37x	Enterprise value / revenue.
EV/EBIT	7.72x	Enterprise value / operating income, when both are positive.
EV/EBITDA	5.14x	Enterprise value / EBITDA, when both are positive.
Earnings yield	7.6%	Net income / market cap (the inverse of P/E).

What was Sunoco LP's revenue in fiscal 2025?

Sunoco LP reported revenue of $25.20B for fiscal 2025, 11.1% higher than the year before.

Was Sunoco LP profitable in fiscal 2025?

Yes. Net income was $527.0M, a net margin of 2.1%.

How much free cash flow did Sunoco LP generate in fiscal 2025?

Cash from operations of $1.19B minus capital expenditures of $577.0M left free cash flow of $615.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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