Latest Ratios: P/E Ratio 18.5x · EV/EBITDA 15.1x · ROE 8.7%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.3B | $7.2B | $6.1B | $5.1B | $3.7B | $3.4B | $2.4B | $2.6B | $2.3B | $2.8B | $2.5B |
| Enterprise Value | $24.5B | $22.4B | $14.0B | $9.2B | $7.7B | $7.2B | $6.0B | $6.2B | $5.2B | $7.1B | $6.9B |
| P/E Ratio → | 18.52 | 14.32 | 8.57 | 16.42 | 9.21 | 7.73 | 17.88 | 10.89 | — | 81.14 | — |
| P/S Ratio | 0.37 | 0.29 | 0.27 | 0.22 | 0.14 | 0.20 | 0.22 | 0.15 | 0.14 | 0.24 | 0.25 |
| P/B Ratio | 1.16 | 0.90 | 1.51 | 5.21 | 3.88 | 4.25 | 3.81 | 3.37 | 2.94 | 1.26 | 1.15 |
| P/FCF | 15.06 | 11.69 | 29.95 | 13.25 | 9.75 | 9.34 | 6.37 | 8.91 | — | 9.54 | 35.45 |
| P/OCF | 7.77 | 6.03 | 11.18 | 8.50 | 6.52 | 6.35 | 4.80 | 5.88 | — | 6.45 | 4.49 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.89 | 0.62 | 0.40 | 0.30 | 0.41 | 0.56 | 0.37 | 0.31 | 0.61 | 0.69 |
| EV / EBITDA | 15.14 | 13.86 | 12.12 | 11.17 | 8.83 | 7.79 | 9.87 | 9.52 | 9.93 | 17.82 | 21.53 |
| EV / EBIT | 26.35 | 19.83 | 21.34 | 14.30 | 11.36 | 10.17 | 14.73 | 13.27 | 21.90 | 30.84 | — |
| EV / FCF | — | 36.44 | 68.51 | 23.85 | 20.51 | 19.56 | 15.82 | 21.45 | — | 23.89 | 97.35 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.3% | 8.3% | 7.6% | 5.1% | 4.6% | 6.7% | 8.1% | 6.2% | 5.5% | 8.0% | 9.8% |
| Operating Margin | 3.7% | 3.7% | 3.5% | 2.8% | 2.6% | 4.3% | 3.9% | 2.8% | 2.0% | 2.0% | 1.5% |
| Net Profit Margin | 2.1% | 2.1% | 3.2% | 1.3% | 1.5% | 2.5% | 1.3% | 1.4% | -1.2% | 1.3% | -4.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.7% | 8.7% | 28.4% | 32.4% | 45.3% | 61.8% | 19.4% | 30.5% | -13.7% | 6.7% | -10.9% |
| ROA | 2.5% | 2.5% | 6.7% | 4.5% | 6.3% | 8.0% | 2.5% | 4.6% | -3.1% | 1.7% | -4.6% |
| ROIC | 4.0% | 4.0% | 7.0% | 9.5% | 10.6% | 12.8% | 7.3% | 8.6% | 5.1% | 2.6% | 1.6% |
| ROCE | 5.0% | 5.0% | 8.8% | 11.6% | 13.1% | 15.7% | 9.0% | 10.7% | 6.2% | 3.1% | 1.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.01 | 2.01 | 1.97 | 4.21 | 4.37 | 4.68 | 5.81 | 4.78 | 3.81 | 1.91 | 2.06 |
| Debt / EBITDA | 9.96 | 9.96 | 6.90 | 5.00 | 4.73 | 4.10 | 6.05 | 5.60 | 5.66 | 10.78 | 14.06 |
| Net Debt / Equity | — | 1.90 | 1.94 | 4.18 | 4.29 | 4.65 | 5.65 | 4.75 | 3.74 | 1.90 | 2.00 |
| Net Debt / EBITDA | 9.41 | 9.41 | 6.82 | 4.97 | 4.64 | 4.07 | 5.89 | 5.56 | 5.56 | 10.71 | 13.69 |
| Debt / FCF | — | 24.75 | 38.56 | 10.61 | 10.77 | 10.22 | 9.45 | 12.54 | — | 14.35 | 61.90 |
| Interest Coverage | 2.09 | 2.09 | 1.63 | 2.92 | 3.70 | 4.55 | 2.29 | 2.65 | 1.63 | 1.10 | -3.32 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 1.27 | 1.40 | 1.41 | 1.34 | 1.30 | 1.24 | 1.05 | 3.74 | 1.20 |
| Quick Ratio | 0.78 | 0.78 | 0.72 | 0.76 | 0.83 | 0.74 | 0.71 | 0.68 | 0.61 | 3.39 | 0.68 |
| Cash Ratio | 0.22 | 0.22 | 0.05 | 0.02 | 0.06 | 0.03 | 0.15 | 0.03 | 0.06 | 0.02 | 0.11 |
| Asset Turnover | — | 0.89 | 1.58 | 3.37 | 3.75 | 3.03 | 2.03 | 3.05 | 3.48 | 1.40 | 1.15 |
| Inventory Turnover | 9.69 | 9.69 | 19.63 | 24.62 | 29.89 | 30.75 | 25.77 | 37.14 | 42.93 | 25.31 | 24.08 |
| Days Sales Outstanding | — | 28.56 | 18.69 | 13.86 | 12.84 | 11.16 | 10.43 | 9.04 | 8.83 | 21.67 | 19.81 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 7.1% | 9.1% | 9.2% | 7.3% | 9.8% | 10.4% | 14.7% | 13.8% | 16.6% | 15.2% | 17.3% |
| Payout Ratio | 124.7% | 124.7% | 79.1% | 119.3% | 90.4% | 80.0% | 262.2% | 150.2% | — | 289.3% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 7.0% | 11.7% | 6.1% | 10.9% | 12.9% | 5.6% | 9.2% | — | 1.2% | — |
| FCF Yield | 6.6% | 8.6% | 3.3% | 7.5% | 10.3% | 10.7% | 15.7% | 11.2% | — | 10.5% | 2.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 23.4% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.1% | 9.1% | 9.2% | 7.3% | 9.8% | 10.4% | 14.7% | 13.8% | 40.0% | 15.2% | 17.3% |
| Shares Outstanding | — | $137M | $119M | $85M | $85M | $84M | $84M | $84M | $85M | $100M | $94M |
High Leverage and Volatility
According to current market data, SUN trades at a forward P/E of 7.55, which appears to discount the partnership's aggressive acquisition strategy and suggests that investors remain skeptical of the long-term sustainability of the 7.2% dividend yield relative to the broader energy sector's valuation multiples.
The divergence between the TTM P/E of 18.17 and the forward P/E of 7.55 implies that the market is pricing in a significant earnings recovery or a shift in the earnings base following recent terminal acquisitions. Investors should monitor whether this valuation gap reflects a genuine growth opportunity or a persistent risk premium associated with the partnership's high leverage and reliance on volatile fuel spreads.
Based on reported financial figures, SUN's ROIC has struggled to maintain momentum, peaking at 4.4% in 2024Q1 before declining to 4.0% in 2026Q1, a trend that indicates the partnership is currently failing to generate returns on invested capital that exceed its likely cost of capital.
The inconsistent ROIC trend suggests that the rapid expansion of the asset base through midstream acquisitions has yet to translate into meaningful value creation for unitholders. The partnership appears to be in a capital-intensive phase where the integration of new assets is temporarily suppressing overall return efficiency compared to historical performance.
As indicated by quarterly filings, SUN's cash conversion cycle has fluctuated between 11 and 18 days over the last ten quarters, reflecting the inherent difficulty in managing inventory and receivables within a high-volume, low-margin wholesale fuel distribution business model that is sensitive to commodity price swings.
The variability in the CCC suggests that the partnership's working capital management is heavily influenced by external fuel price volatility rather than internal operational improvements. While the DSO remains relatively stable, the periodic spikes in DIO warrant further investigation into whether inventory management is becoming a bottleneck during periods of rapid expansion.
According to recent financial statements, SUN's debt-to-EBITDA ratio has shown extreme volatility, reaching as high as 40.99 in 2025Q4, which suggests that the partnership's ability to service its debt obligations is highly sensitive to fluctuations in operating performance and the timing of large-scale capital investments.
The erratic leverage profile indicates that the partnership's balance sheet is currently in a vulnerable state, potentially limiting its flexibility to pursue further acquisitions without additional equity or debt restructuring. Investors should monitor the interest coverage ratio, which has struggled to maintain a consistent buffer, as a primary indicator of potential refinancing risk.
As reported in industry analysis, the P/E ratio is frequently misapplied to SUN, as it fails to account for the significant non-cash charges and derivative hedging gains that distort net income, making it a poor proxy for the partnership's actual cash-generating capacity and distribution sustainability.
Analysts should prioritize Distributable Cash Flow (DCF) and EV/EBITDA over P/E, as these metrics better capture the underlying cash flows of the midstream-focused business model. Relying on P/E obscures the impact of the partnership's capital-intensive transition and may lead to an inaccurate assessment of its true valuation relative to peers.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying SUN stock.
Sunoco LP's current P/E ratio is 18.5x. The historical average is 24.1x. This places it at the 58th percentile of its historical range.
Sunoco LP's current EV/EBITDA is 15.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.2x.
Sunoco LP's return on equity (ROE) is 8.7%. The historical average is 19.2%.
Based on historical data, Sunoco LP is trading at a P/E of 18.5x. This is at the 58th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sunoco LP's current dividend yield is 7.06% with a payout ratio of 124.7%.
Sunoco LP has 8.3% gross margin and 3.7% operating margin.
Sunoco LP's Debt/EBITDA ratio is 10.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.