Is CAPL undervalued? Our fair value estimate
CrossAmerica Partners LP · Energy · NYQ
How we got here
The estimate is computed from CAPL's reported fundamentals, with a growth assumption that is deliberately capped: small changes to an uncapped growth or terminal assumption can justify any price, and a number that can justify anything means nothing. These are the inputs the model holds for CAPL today; the exact method, and where it goes wrong, is on the methodology page.
The starting point is earnings power: what the business earns per share, and what the market currently pays for each unit of it.
The trailing growth rate informs the growth assumption, which the model caps deliberately: uncapped growth assumptions can justify any price.
Margins tell the model how much of each unit of revenue survives as profit, and how much room there is for that to erode.
A volatility measure against the wider market. A jumpier share earns a larger discount for risk, which lowers the estimate.
The belief gap: what growth this price asks you to believe
Run our DCF backwards and every price becomes a growth assumption. One axis compares them: today's market price, the entry prices implied by super investors' 13F filings, the mean analyst target, and the growth our own model funds. The gap between the market's marker and the cohort's markers is the growth you are being asked to believe that informed buyers did not need.
Today's price asks you to believe about 18.6% annual cash-flow growth. Citadel Advisors's Q4 2025 entry only needed about 17.0%. Our model funds 5.0%.
Citadel Advisors's Q4 2025 filing implies an average entry near $20.60, which implied about 17.0% annual growth under our model (low confidence).
Entry prices are filing-implied averages (reported position value divided by reported shares for the quarter a position was opened or materially increased), not actual cost bases; 13Fs lag by up to 45 days. How the Belief Gap is computed.
Energy peers, by our rating
The same model, run on the highest-rated names in the same sector. A gap to fair value is only comparable when the method behind it is identical, which here it is.
Common questions
Is CrossAmerica Partners LP (CAPL) undervalued?
On our model, CAPL at USD22.00 trades 43% above our fair value estimate of USD12.58, so it screens as overvalued today. That is one model's answer, not a recommendation: a fair value estimate is an argument about the future, and the market is frequently right about why something is cheap.
What is the fair value of CAPL?
Our current fair value estimate for CrossAmerica Partners LP is USD12.58 per share. The estimate moves as prices and fundamentals move.
How is CAPL's fair value calculated?
From CrossAmerica Partners LP's reported fundamentals: earnings power, a deliberately capped growth assumption, and a discount for balance sheet and volatility risk. The full method, including its known weaknesses, is published on our methodology page, and the interactive Valuation Lab lets you change every assumption and watch the value move.
Disagree with an assumption? Good. The Valuation Lab on the CAPL app page puts every input of this model on a slider, including a reverse DCF that shows the growth the market is currently pricing in.
A fair value estimate is a model output computed from company filings and market data, refreshed daily; quotes are delayed. It is educational information, not financial advice and not a recommendation to buy or sell anything. Read the full disclaimer.