Marathon Petroleum Corp MPC
MPC has nearly 140 years of history in the energy business, and is a leading, integrated, downstream and midstream energy company. We operate one of the nation's largest refining systems with approximately 3.0 million barrels per day of crude oil refining capacity and believe we are one of the largest wholesale suppliers of gasoline and distillates to resellers in the United States. We distribute our refined products through one of the largest terminal operations in the United States and one of the largest private domestic fleets of inland petroleum product barges. Our integrated midstream energy asset network links producers of natural gas and NGLs from some of the largest supply basins in the United States to domestic and international markets. In addition, we are one of the largest producers and marketers of renewable diesel in the United States.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $132.70B | $138.86B | $148.38B | $177.45B | $119.98B | $69.78B | $111.15B | $86.09B | $74.73B | $63.28B |
| Cost of revenue | $119.45B | $126.24B | $128.57B | $151.67B | $110.01B | $65.73B | $99.23B | $77.05B | $67.09B | $56.68B |
| Gross profit | $13.25B | $12.62B | $19.81B | $25.78B | $9.97B | $4.05B | $11.92B | $9.04B | $7.64B | $6.60B |
| SG&A | $3.35B | $3.22B | $3.04B | $2.77B | $2.54B | $2.71B | $3.19B | $2.28B | $1.69B | $1.60B |
| Total operating expenses | $126.93B | $133.62B | $135.79B | $158.48B | $116.63B | $81.28B | $107.40B | $81.90B | $71.35B | $60.98B |
| Operating income | $8.29B | $6.80B | $14.51B | $21.47B | $4.30B | -$12.25B | $4.46B | $4.69B | $4.02B | $2.39B |
| Pre-tax income | $7.01B | $5.96B | $13.99B | $20.47B | $2.82B | -$13.61B | $3.23B | $3.70B | $3.34B | $1.82B |
| Income tax | $1.14B | $890.0M | $2.82B | $4.49B | $264.0M | $2.43B | $784.0M | $764.0M | $460.0M | $609.0M |
| Net income | $4.05B | $3.44B | $9.68B | $14.52B | $9.74B | -$9.83B | $2.64B | $2.78B | $3.43B | $1.17B |
| EPS, basic | 13.24 | 10.11 | 23.73 | 28.31 | 15.34 | -15.13 | 4.00 | 5.36 | 6.76 | 2.22 |
| EPS, diluted | 13.22 | 10.08 | 23.63 | 28.12 | 15.24 | -15.13 | 3.97 | 5.28 | 6.70 | 2.21 |
| Shares, diluted (wtd. avg.) | $306.0M | $341.0M | $409.0M | $516.0M | $638.0M | $649.0M | $664.0M | $526.0M | $512.0M | $530.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.67B | $3.21B | $5.45B | $8.63B | $5.29B | $416.0M | $1.40B | $1.52B | $2.85B | $892.0M |
| Short-term investments | — | $0 | $4.78B | $3.15B | $5.55B | — | — | — | — | — |
| Receivables | $10.32B | $11.14B | $12.19B | $13.48B | $11.03B | $5.76B | $7.23B | $5.85B | $4.70B | $3.62B |
| Inventory | $10.13B | $9.57B | $9.32B | $8.83B | $8.05B | $8.00B | $9.80B | $9.84B | $5.55B | $5.66B |
| Total current assets | $24.78B | $24.45B | $32.13B | $35.24B | $30.50B | $28.29B | $30.46B | $18.02B | $13.40B | $10.40B |
| Property, plant and equipment | — | — | — | — | — | $39.03B | $40.87B | $45.06B | $26.44B | $25.77B |
| Goodwill | $9.35B | $8.24B | $8.24B | $8.24B | $8.26B | $8.26B | $15.65B | $15.83B | $3.59B | $3.59B |
| Other intangibles | $2.71B | $1.77B | $1.76B | $1.88B | $2.13B | $2.36B | $2.81B | $3.31B | $631.0M | $725.0M |
| Total assets | $83.95B | $78.86B | $85.99B | $89.90B | $85.37B | $85.16B | $98.56B | $92.94B | $49.05B | $44.41B |
| Accounts payable | $12.97B | $13.91B | $13.76B | $15.31B | $13.70B | $7.80B | $11.22B | $9.37B | $8.30B | $5.59B |
| Short-term debt | $2.37B | $3.05B | $1.95B | $1.07B | $571.0M | $2.85B | $704.0M | $544.0M | $624.0M | $28.0M |
| Total current liabilities | $19.68B | $20.83B | $20.15B | $20.02B | $17.90B | $15.66B | $16.95B | $13.22B | $10.48B | $7.15B |
| Total liabilities | $59.87B | $54.35B | $54.59B | $54.82B | $51.79B | $54.94B | $55.45B | $47.89B | $27.22B | $23.21B |
| Retained earnings | $39.75B | $36.85B | $34.56B | $26.14B | $12.90B | $4.65B | $15.99B | $14.76B | $12.86B | $10.21B |
| Total equity | $17.31B | $17.75B | $30.50B | $34.12B | $32.62B | $29.25B | $42.14B | $44.05B | $20.83B | $20.20B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.25B | $8.66B | $14.12B | $16.36B | $4.36B | $2.42B | $9.44B | $6.16B | $6.61B | $4.02B |
| Depreciation and amortisation | $3.25B | $3.34B | $3.31B | $3.21B | $3.36B | $3.38B | $3.23B | $2.17B | $2.11B | $2.00B |
| Stock-based compensation | $160.0M | $137.0M | $211.0M | $153.0M | $88.0M | $100.0M | $153.0M | $127.0M | $51.0M | $45.0M |
| Capital expenditure | $3.49B | $2.53B | $1.89B | $2.42B | $1.46B | $2.79B | $4.81B | $3.18B | $2.73B | $2.89B |
| Investing cash flow | -$5.87B | $1.53B | -$3.10B | $623.0M | $14.80B | -$3.26B | -$6.26B | -$7.67B | -$3.40B | -$2.97B |
| Financing cash flow | -$1.92B | -$12.43B | -$14.21B | -$13.65B | -$14.42B | -$135.0M | -$3.38B | $222.0M | -$1.09B | -$1.29B |
| Dividends paid | $1.14B | $1.15B | $1.26B | $1.28B | $1.48B | $1.51B | $1.40B | $954.0M | $773.0M | $719.0M |
| Buybacks | $3.49B | $9.19B | $11.57B | $11.92B | $4.65B | $0 | $1.95B | $3.29B | $2.37B | $197.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001510295-26-000009.
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