CrossAmerica Partners LP (CAPL) Balance Sheet
CAPL balance sheet, 2025
December 31, 2025 · U.S. dollars$964.7M assets = $1.04B liabilities + −$72.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$72.0M).
Both columns are drawn to the same scale: what CAPL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CAPL financial health
Descriptive bands, not a rating. Fiscal 2025.
CAPL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $932.0M2016 | $964.7M2025 | +0.4%/yr | |
| Total liabilities | $711.2M2016 | $1.04B2025 | +4.3%/yr | |
| Shareholders’ equity | $220.8M2016 | −$72.0M2025 | — | |
| Cash & short-term investments | $1.4M2016 | $3.1M2025 | +9.8%/yr | |
| Total debt | $545.5M2016 | $907.9M2025 | +5.8%/yr | |
| Net cash (debt) | −$544.1M2016 | −$904.8M2025 | −$360.6M | |
| Working capital | −$9.7M2016 | −$44.1M2025 | −$34.4M | |
| Book value per share | $6.622016 | −$1.882025 | — | |
| Current ratio | 0.872016 | 0.722025 | −0.15 | |
| Debt / equity | 2.472016 | 302.782023 | +300.31 | |
| Shares outstanding | 33.4M2016 | 38.2M2025 | +1.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CAPL assets
CAPL liabilities and equity
CAPL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CAPL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.1M | $3.4M | $5.0M | $16.1M | $7.6M | $513,000 | $1.8M | $3.2M | $3.9M | $1.4M |
| Cash & equivalents | $3.1M | $3.4M | $5.0M | $16.1M | $7.6M | $513,000 | $1.8M | $3.2M | $3.9M | $1.4M |
| Short-term investments | — | — | $9.3M | $13.8M | $115,000 | — | — | — | $0 | $0 |
| Receivables | $29.9M | $33.0M | $31.6M | $35.7M | $35.0M | $30.8M | $44.5M | $25.9M | $42.3M | $42.2M |
| Inventory | $59.6M | $63.2M | $52.3M | $47.3M | $46.1M | $23.3M | $6.2M | $14.1M | $15.1M | $13.2M |
| Other current assets | $18.5M | $19.2M | $19.6M | $19.4M | $17.6M | $20.3M | $16.9M | $7.7M | $19.2M | $8.7M |
| Total current assets | $111.1M | $118.8M | $108.5M | $118.4M | $106.3M | $74.8M | $69.4M | $50.9M | $80.5M | $65.4M |
| Property, plant & equipment (net) | $669.3M | $792.7M | $853.5M | $893.3M | $924.8M | $738.7M | $686.7M | $647.4M | $681.0M | $677.3M |
| Goodwill & intangible assets | $161.0M | $176.7M | $194.7M | $213.3M | $214.7M | $181.7M | $133.8M | $147.8M | $165.2M | $169.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $23.3M | $26.5M | $25.0M | $32.3M | $93.5M | $86.8M | $66.9M | $20.8M | $20.6M | $19.4M |
| Total assets | $964.7M | $1.11B | $1.18B | $1.26B | $1.34B | $1.08B | $956.8M | $866.9M | $947.2M | $932.0M |
| Liabilities | ||||||||||
| Accounts payable | $63.4M | $81.7M | $79.2M | $84.8M | $74.9M | $69.4M | $57.8M | $36.9M | $42.8M | $34.9M |
| Short-term debt | $38.2M | $38.3M | $37.9M | $46.5M | $45.8M | $34.6M | $26.0M | $3.5M | $3.9M | $3.0M |
| Deferred revenue | — | −$2.5M | $20.4M | — | $46.5M | $43.0M | $24.3M | $7.5M | $25.4M | $24.6M |
| Total current liabilities | $155.2M | $162.8M | $161.1M | $175.3M | $163.9M | $146.9M | $112.6M | $88.4M | $93.5M | $75.1M |
| Long-term debt | $686.0M | $759.3M | $745.9M | $750.6M | $796.6M | $509.9M | $534.9M | $519.3M | $529.1M | $465.1M |
| Lease obligations | $130.6M | $149.3M | $164.6M | $184.5M | $191.8M | $193.3M | $123.5M | $75.3M | $77.5M | $78.3M |
| Other long-term liabilities | $195.6M | $217.4M | $271.7M | $252.4M | $322.3M | $315.5M | $230.9M | $148.3M | $153.6M | $170.9M |
| Total liabilities | $1.04B | $1.14B | $1.18B | $1.18B | $1.28B | $972.3M | $878.4M | $756.0M | $776.2M | $711.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | −$101.3M | −$61.4M | −$2.4M | $36.5M | $53.5M | $112.1M | $78.4M | $110.9M | $171.3M | $221.0M |
| Retained earnings (deficit) | — | — | −$25.4M | −$46.2M | — | — | — | — | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$1.0M | $7.6M | $5.4M | $16.5M | $3.0M | −$2.5M | −$196.6M | −$193.7M | −$164.6M | −$131.4M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$72.0M | −$24.8M | $3.0M | $79.1M | $56.6M | $109.7M | $78.4M | $110.9M | $171.0M | $220.8M |
| Key figures | ||||||||||
| Total debt | $907.9M | $908.6M | $910.5M | $943.4M | $996.6M | $703.3M | $660.9M | $596.9M | $609.5M | $545.5M |
| Net cash (debt) | −$904.8M | −$905.2M | −$905.5M | −$927.3M | −$988.9M | −$702.8M | −$659.1M | −$593.7M | −$605.6M | −$544.1M |
| Working capital | −$44.1M | −$44.0M | −$52.6M | −$56.9M | −$57.6M | −$72.1M | −$43.2M | −$37.6M | −$13.0M | −$9.7M |
| Tangible book value | −$233.1M | −$201.4M | −$191.7M | −$134.2M | −$158.1M | −$72.0M | −$55.4M | −$36.9M | $5.8M | $50.9M |
| Book value per share | −$1.88 | −$0.65 | $0.08 | $2.08 | $1.49 | $2.93 | $2.28 | $3.23 | $5.05 | $6.62 |
| Shares outstanding | 38.2M | 38.2M | 38.1M | 38.1M | 37.9M | 37.4M | 34.5M | 34.3M | 33.9M | 33.4M |
| Current ratio | 0.72 | 0.73 | 0.67 | 0.68 | 0.65 | 0.51 | 0.62 | 0.58 | 0.86 | 0.87 |
| Quick ratio | 0.21 | 0.22 | 0.23 | 0.30 | 0.26 | 0.21 | 0.41 | 0.33 | 0.49 | 0.58 |
| Debt / equity | — | — | 302.78 | 11.92 | 17.62 | 6.41 | 8.43 | 5.38 | 3.56 | 2.47 |
| Equity / assets | −7.5% | −2.2% | 0.3% | 6.3% | 4.2% | 10.1% | 8.2% | 12.8% | 18.1% | 23.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.9M | $7.3M | $3.1M | $5.8M | $9.7M | $6.7M | $3.4M | $7.8M | $5.5M | $6.3M | $5.0M | $5.8M |
| Cash & equivalents | $4.9M | $7.3M | $3.1M | $5.8M | $9.7M | $6.7M | $3.4M | $7.8M | $5.5M | $6.3M | $5.0M | $5.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $6.5M | $7.2M | $9.3M | $12.7M |
| Receivables | $34.5M | $31.9M | $29.3M | $34.6M | $33.2M | $29.4M | $33.0M | $32.5M | $39.0M | $36.1M | $31.6M | $39.2M |
| Inventory | $63.4M | $65.1M | $59.6M | $61.0M | $59.0M | $60.9M | $63.2M | $61.0M | $63.6M | $58.0M | $52.3M | $53.6M |
| Other current assets | $19.9M | $20.9M | $19.1M | $16.1M | $23.4M | $54.4M | $19.2M | $24.5M | $17.5M | $22.9M | $19.6M | $24.7M |
| Total current assets | $122.8M | $125.3M | $111.1M | $117.4M | $125.3M | $151.4M | $118.8M | $125.7M | $125.6M | $123.3M | $108.5M | $123.3M |
| Property, plant & equipment (net) | $680.9M | $697.0M | $669.3M | $693.6M | $711.2M | $738.8M | $792.7M | $803.0M | $827.4M | $838.9M | $853.5M | $859.7M |
| Goodwill & intangible assets | $153.8M | $157.4M | $161.0M | $164.5M | $168.4M | $172.5M | $176.7M | $180.9M | $185.2M | $189.8M | $194.7M | $198.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $24.5M | $23.1M | $23.3M | $23.5M | $23.5M | $23.8M | $26.5M | $20.5M | $26.5M | $27.4M | $25.0M | $36.3M |
| Total assets | $982.0M | $1.00B | $964.7M | $998.9M | $1.03B | $1.09B | $1.11B | $1.13B | $1.16B | $1.18B | $1.18B | $1.22B |
| Liabilities | ||||||||||||
| Accounts payable | $85.5M | $84.6M | $63.4M | $78.8M | $80.3M | $81.2M | $81.7M | $89.4M | $75.3M | $78.4M | $79.2M | $80.2M |
| Short-term debt | $34.4M | $35.1M | $38.9M | $37.6M | $71.5M | $38.5M | $38.3M | $38.1M | $38.4M | $38.1M | $37.9M | $38.1M |
| Deferred revenue | — | — | — | — | — | — | −$2.5M | $27.0M | $19.8M | — | $20.4M | $21.2M |
| Total current liabilities | $161.8M | $167.9M | $155.2M | $164.2M | $162.1M | $163.7M | $162.8M | $172.8M | $165.4M | $159.9M | $161.1M | $177.2M |
| Long-term debt | $666.3M | $676.2M | $686.0M | $700.8M | $722.7M | $774.1M | $759.3M | $769.2M | $786.7M | $795.8M | $745.9M | $760.7M |
| Lease obligations | $164.2M | $171.3M | $130.6M | $129.1M | $129.3M | $137.2M | $149.3M | $142.8M | $147.2M | $151.3M | $164.6M | $158.6M |
| Other long-term liabilities | $229.6M | $237.2M | $225.8M | $195.9M | $197.8M | $205.1M | $217.4M | $218.8M | $220.8M | $225.7M | $271.7M | $230.0M |
| Total liabilities | $1.06B | $1.08B | $1.04B | $1.06B | $1.08B | $1.14B | $1.14B | $1.16B | $1.17B | $1.18B | $1.18B | $1.17B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | −$111.0M | −$111.0M | −$101.3M | −$91.0M | −$84.3M | −$88.7M | −$61.4M | −$57.4M | −$47.9M | −$39.6M | −$2.4M | $1.2M |
| Retained earnings (deficit) | — | — | — | — | — | — | — | — | $47.9M | $39.6M | −$25.4M | −$28.3M |
| Accumulated other comprehensive income | $3.8M | $1.6M | −$1.0M | −$716,000 | −$172,000 | $2.7M | $7.6M | −$1.6M | $10.6M | $9.4M | $5.4M | $21.0M |
| Total shareholders' equity | −$75.7M | −$78.5M | −$72.0M | −$62.0M | −$54.1M | −$56.3M | −$24.8M | −$30.7M | −$8.2M | −$1.8M | $3.0M | $49.3M |
| Key figures | ||||||||||||
| Total debt | $830.5M | $847.5M | $816.6M | $833.3M | $889.4M | $914.6M | $908.6M | $915.3M | $937.1M | $950.2M | $910.5M | $922.3M |
| Net cash (debt) | −$825.6M | −$840.1M | −$813.5M | −$827.6M | −$879.7M | −$907.8M | −$905.2M | −$907.5M | −$931.6M | −$943.9M | −$905.5M | −$916.5M |
| Working capital | −$39.1M | −$42.6M | −$44.1M | −$46.9M | −$36.8M | −$12.2M | −$44.0M | −$47.1M | −$39.8M | −$36.6M | −$52.6M | −$53.9M |
| Tangible book value | −$229.5M | −$235.8M | −$233.1M | −$226.5M | −$222.6M | −$228.8M | −$201.4M | −$211.6M | −$193.4M | −$191.6M | −$191.7M | −$148.7M |
| Book value per share | −$1.97 | −$2.05 | −$1.88 | −$1.62 | −$1.37 | −$1.48 | −$0.65 | −$0.80 | −$0.21 | −$0.05 | $0.08 | $1.29 |
| Shares outstanding | 38.3M | 38.3M | 38.2M | 38.3M | 39.5M | 38.1M | 38.2M | 38.2M | 38.2M | 38.0M | 38.2M | 38.1M |
| Current ratio | 0.76 | 0.75 | 0.72 | 0.71 | 0.77 | 0.93 | 0.73 | 0.73 | 0.76 | 0.77 | 0.67 | 0.70 |
| Quick ratio | 0.24 | 0.23 | 0.21 | 0.25 | 0.26 | 0.22 | 0.22 | 0.23 | 0.27 | 0.27 | 0.23 | 0.25 |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | 302.78 | 18.70 |
| Equity / assets | −7.7% | −7.8% | −7.5% | −6.2% | −5.3% | −5.2% | −2.2% | −2.7% | −0.7% | −0.2% | 0.3% | 4.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
CAPL financial position
At the end of fiscal 2025 (December 31, 2025), CrossAmerica Partners had total assets of $964.7 million (down 13.5% from a year earlier), total liabilities of $1.0 billion and shareholders' equity of -$72.0 million. It held $3.1 million in cash and short-term investments against $907.9 million of debt, net debt of $904.8 million. Its current ratio was 0.72. In the latest quarter (ended June 30, 2026) total assets were $982.0 million and equity -$75.7 million.
Related: CAPL income statement, CAPL cash flow statement, CAPL key metrics. See the CAPL stock overview for the latest quote and news.
CAPL balance sheet FAQ
What are CrossAmerica Partners's total assets?
CrossAmerica Partners reported total assets of $964.7 million at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does CrossAmerica Partners have?
CrossAmerica Partners had $907.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does CrossAmerica Partners have?
CrossAmerica Partners held $3.1 million in cash and short-term investments at the end of fiscal 2025; with $907.9 million of debt that is net debt of $904.8 million.
What is CrossAmerica Partners's book value?
CrossAmerica Partners's shareholders' equity (book value) was -$72.0 million at the end of fiscal 2025, or −$1.88 per share.
What is CrossAmerica Partners's current ratio?
CrossAmerica Partners had current assets of $111.1 million and current liabilities of $155.2 million, a current ratio of 0.72 (current liabilities exceed current assets).
How much goodwill does CrossAmerica Partners have?
CrossAmerica Partners carried $161.0 million of goodwill and intangible assets, 16.7% of total assets, at the end of fiscal 2025.