Sunoco LP
SUN—
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Sunoco LP AI Insights
Informational only. Not investment advice.Snapshot
- Debt/Equity of 1.82x with 10.1B total debt vs 5.5B equity; interest expense (481M TTM) consumes 82% of pretax income (591M)[Debt to Equity]
- Gross profit 1Y growth of 48% vs industry median 1.4% signals successful acquisition integration or pricing power[Gross Profit 1Y Growth]
- FCF of 373M TTM covers only 10.5% of 3.57/unit distribution; 1.47B preferred issuance funds gap[Free Cash Flow TTM]
Watch Triggers
- Interest Expense TTM: Exceeds 550M (>55% of operating income) — Would signal debt servicing consuming operating leverage gains
- Free Cash Flow TTM: Falls below 300M — Distribution coverage would require additional debt/equity issuance
- Gross Margin TTM: Drops below 7% — At 8.6% now, compression signals pricing power erosion or integration issues
Bull Case
Operating margin 4.5% vs industry median 1.2% with 48% gross profit growth shows operational leverage from scale; 21.9B revenue dwarfs 4B median
Operating Margin TTMGross Profit 1Y GrowthTotal Revenue TTM
3.2B cash position (18% of market cap) provides liquidity buffer; working capital of 3.9B supports operations
Cash and EquivalentsWorking Capital
Bear Case
10.1B debt at 1.82x D/E with 481M interest expense leaves minimal margin for rate increases; ROIC of 2.6% below cost of debt
Total DebtDebt to EquityROIC TTM
Net margin 1.9% vs 0.6% median still thin; 417M net income on 21.9B revenue vulnerable to commodity margin compression
Net Margin TTMNet Income TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Distribution sustainability depends on debt refinancing costs as 10B debt rolls over
1-3yhigh
- Interest expense already 481M TTM (49% of operating income)
- Net debt issuance of 1.68B in period indicates ongoing leverage
- FCF only 373M vs ~490M annual distribution requirement
Interest Expense TTM: 481MOperating Income TTM: 985MFree Cash Flow TTM: 373M
Valuation Context
Caveats
SUN Fundamentals
Wholesale Trade → Merchant Wholesalers, Nondurable Goods
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$13.91B | — | ||
$28.61B | — | ||
17 | — | ||
$30.71B | +37.3% | — | |
$3.92 | +159.9% | — | |
4.87% | +1.1% | — | |
1.76% | -1.3% | — | |
$815.0M | +5333.3% | — | |
8.62% | -17.5% | — | |
Beta 5Y (Monthly) | unknown | — |
SUN Dividend History
55 dividends
2026
$1.921605/08/26$0.9899
02/06/26$0.9317
2025
$3.613110/30/25$0.9202
08/08/25$0.9088
05/09/25$0.8976
02/07/25$0.8865
2024
$3.468811/08/24$0.8756
08/09/24$0.8756
05/10/24$0.8756
02/06/24$0.8420
2023
$3.351510/27/23$0.8420
08/11/23$0.8420
05/05/23$0.8420
02/06/23$0.8255
2022
$3.302011/03/22$0.8255
08/05/22$0.8255
05/06/22$0.8255
02/07/22$0.8255
2021
$3.302011/04/21$0.8255
08/05/21$0.8255
05/10/21$0.8255
02/05/21$0.8255
2020
$3.302011/05/20$0.8255
08/06/20$0.8255
05/06/20$0.8255
02/06/20$0.8255
2019
$3.302011/04/19$0.8255
08/05/19$0.8255
05/06/19$0.8255
02/05/19$0.8255
2018
$3.302011/05/18$0.8255
08/06/18$0.8255
05/04/18$0.8255
02/05/18$0.8255
2017
$3.302011/06/17$0.8255
08/03/17$0.8255
05/05/17$0.8255
02/09/17$0.8255
2016
$3.269611/03/16$0.8255
08/03/16$0.8255
05/04/16$0.8173
02/03/16$0.8013
2015
$2.683811/13/15$0.7454
08/14/15$0.6934
05/15/15$0.6450
02/12/15$0.6000
2014
$2.052611/14/14$0.5457
08/15/14$0.5197
05/16/14$0.5021
02/13/14$0.4851
2013
$1.796511/15/13$0.4687
08/15/13$0.4528
05/16/13$0.4375
02/14/13$0.4375
2012
$0.028511/15/12$0.0285
SUN Stock Splits
No stock splits
SUN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
02/19/26 | 12/31/25 | 10-K | |
11/06/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/14/25 | 12/31/24 | 10-K | |
11/07/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
11/02/23 | 09/30/23 | 10-Q | |
08/03/23 | 06/30/23 | 10-Q | |
05/04/23 | 03/31/23 | 10-Q | |
02/17/23 | 12/31/22 | 10-K | |
11/03/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/05/22 | 03/31/22 | 10-Q | |
02/18/22 | 12/31/21 | 10-K | |
11/04/21 | 09/30/21 | 10-Q | |
08/05/21 | 06/30/21 | 10-Q | |
05/07/21 | 03/31/21 | 10-Q | |
02/19/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
08/06/20 | 06/30/20 | 10-Q | |
05/11/20 | 03/31/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
08/08/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
11/08/18 | 09/30/18 | 10-Q | |
08/09/18 | 06/30/18 | 10-Q | |
05/10/18 | 03/31/18 | 10-Q | |
02/23/18 | 12/31/17 | 10-K | |
11/07/17 | 09/30/17 | 10-Q | |
08/09/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
11/09/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
11/06/15 | 09/30/15 | 10-Q | |
08/06/15 | 06/30/15 | 10-Q | |
05/08/15 | 03/31/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/06/14 | 09/30/14 | 10-Q | |
08/08/14 | 06/30/14 | 10-Q | |
05/09/14 | 03/31/14 | 10-Q | |
03/14/14 | 12/31/13 | 10-K | |
11/08/13 | 09/30/13 | 10-Q | |
08/14/13 | 06/30/13 | 10-Q | |
05/15/13 | 03/31/13 | 10-Q | |
03/29/13 | 12/31/12 | 10-K | |
11/14/12 | 09/30/12 | 10-Q | |
09/21/12 | 06/30/12 | 424B4 | |
06/22/12 | 03/31/12 | S-1 | |
09/21/12 | 12/31/11 | 424B4 | |
11/14/12 | 09/30/11 | 10-Q | |
09/21/12 | 06/30/11 | 424B4 | |
06/22/12 | 03/31/11 | S-1 |