Sunoco LPSUN
NYSE•Energy•Oil & Gas Refining & Marketing
Sunoco LP, together with its subsidiaries, engages in the energy infrastructure and distribution of motor fuels in the United States. It operates in four segments: Fuel Distribution, Pipeline Systems, Refinery, and Terminals. The Fuel Distribution segment distributes motor fuels and other petroleum products, such as propane and lubricating oil to third-party dealers and distributors, independent operators of commission agent locations, other commercial consumers of motor fuel, and retail locations; and leases real estate properties. This segment also offers non-fuel products, including in-store merchandise and company-operated retail stores food services, as well as credit card processing, car washes, lottery, and other services. The Pipeline Systems segment includes an integrated pipeline and terminal network comprising refined product, crude oil, and ammonia pipelines and terminals. The Terminals segment operates transmix processing facilities and refined product terminals; and provides blending, additive injections, handling, and filtering services. The company was formerly known as Susser Petroleum Partners LP and changed its name to Sunoco LP in 2014. Sunoco LP was founded in 1960 and is based in Dallas, Texas.
Sunoco LP (SUN) reported trailing twelve months revenue of $30.71B as of March 2026, a 37.3% increase year-over-year. Quarterly revenue reached $10.69B, reflecting continued top-line momentum.
Sunoco LP generated $964.00M in TTM net income, with quarterly EBITDA of $1.15B. The operating margin expanded from 5.7% to 8.1%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (8.1%) and net margin (6.0%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 4.0% a year ago, signaling stronger bottom-line efficiency.
SUN trades at a P/E of 11.2x (below the broader market average) and a P/S of 0.4x. The price-to-book ratio of 1.3x reflects a moderate premium to book value.
The company generated $255.00M in free cash flow over the trailing twelve months, a 363.6% increase year-over-year, indicating cash generation ability. The balance sheet shows $30.26B in total assets with $13.92B in long-term debt against $8.35B in stockholders equity for a debt-to-equity ratio of 1.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~4.1% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~15.0% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has grown modestly overall (~29.9%) but trajectory is uneven, suggesting a competitive or cyclical business.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~4.5% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 28.0% — significant dilution, likely from stock compensation or capital raises.