Marathon Petroleum Corp (MPC)

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company in the United States. The company operates through three segments: Refining & Marketing; Midstream; and Renewable Diesel. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane and petrochemicals. The company sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment gathers, transports, stores, distributes, and markets crude oil and refined products, including renewable diesel and other hydrocarbon-based products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and transports, fractionates, stores, and markets natural gas liquids. The Renewable Diesel segment processes renewable feedstocks into renewable diesel, markets, and distributes renewable diesel through its Midstream segment and third parties. It sells renewable diesel to wholesale marketing customers, buyers on the spot market, and through long-term supply contracts to direct dealers under the ARCO brand. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.

Ticker
MPC
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Refining & Marketing
Market cap
$103.99B
52-week range
$161.93 - $493.98

Valuation

Share price
$372.74 (close of Nov 6, 2026)
P/E (TTM)
7.29x
Price to book
3.48x
Price to free cash flow
4.99x
Enterprise value
$124.84B
Book value per share
$107.00

Price performance

PeriodChange
1 day-1.21%
5 days-16.19%
1 month-13.79%
3 months+24.56%
6 months+51.66%
Year to date+129.20%
1 year+93.41%
3 years+148.63%
5 years+466.39%
10 years+804.05%
All time+1,901.29%

Short interest

As of
Oct 15, 2026
Short % of float
3.03%
Shares short
7.15M
Days to cover
3.65
Change since prior report
+1.50%
Source
FINRA consolidated short interest

Members of Congress who disclosed MPC trades

David Taylor · Dan Newhouse · Jefferson Shreve · Robert Bresnahan · Julie Johnson

Super investors holding MPC

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Bill Nygren (Harris Associates LP) · Mairs & Power (Mairs & Power Inc) · David Katz (Matrix Asset Advisors Inc)

Profitability and growth

Return on equity
16.80%
Return on invested capital
12.24%
Return on assets
4.82%
Return on capital employed
12.90%
Gross margin
9.99%
Net margin
3.05%
EBITDA margin
8.70%
Revenue growth
-4.44%
Net income growth
17.47%
Free cash flow growth
-22.26%

Cash flow and balance sheet

Free cash flow yield (TTM)
20.04%
Current ratio
1.45x
Net debt to EBITDA
0.82x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$132.70B
Cost of revenue
$119.45B
Gross profit
$13.25B
EBITDA
$11.54B
Net income
$4.05B
Earnings per share
$13.24
Interest expense
$1.28B
Shares outstanding
305.00M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$132.70B$13.25B$4.05B$13.24
2024-12-31$138.86B$12.62B$3.44B$10.11
2023-12-31$148.38B$19.81B$9.68B$23.73
2022-12-31$177.45B$25.78B$14.52B$28.31
2021-12-31$119.98B$9.97B$9.74B$15.34
2020-12-31$69.78B$4.05B-$9.83B-$15.13
2019-12-31$111.15B$11.92B$2.64B$4.00
2018-12-31$86.09B$9.04B$2.78B$5.36
2017-12-31$74.73B$7.64B$3.43B$6.76
2016-12-31$63.28B$6.60B$1.17B$2.22

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-319.99%3.05%16.80%12.24%
2024-12-319.09%2.48%14.18%11.13%
2023-12-3113.35%6.52%31.74%19.82%
2022-12-3114.53%8.18%42.55%27.37%
2021-12-318.31%8.12%29.86%6.78%
2020-12-315.80%-14.08%-33.59%-15.75%
2019-12-3110.72%2.37%6.26%5.06%
2018-12-3110.50%3.23%6.31%5.49%
2017-12-3110.23%4.59%16.48%11.90%
2016-12-3110.43%1.86%5.81%5.77%

Cash and debt by year

Period endCashDebt
2025-12-31$3.67B$30.50B
2024-12-31$3.21B$24.43B
2023-12-31$10.22B$25.33B
2022-12-31$11.77B$25.63B
2021-12-31$10.84B$24.97B
2020-12-31$415.00M$28.73B
2019-12-31$1.39B$28.02B
2018-12-31$1.69B$26.98B
2017-12-31$3.01B$12.32B
2016-12-31$887.00M$10.54B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$4.77B$160.00M
2024-12-31$6.13B$137.00M
2023-12-31$12.23B$211.00M
2022-12-31$13.94B$153.00M
2021-12-31$2.90B$88.00M
2020-12-31-$368.00M$100.00M
2019-12-31$4.63B$153.00M
2018-12-31$2.98B$127.00M
2017-12-31$3.88B$51.00M
2016-12-31$1.13B$45.00M

Dividend history

Most recent payment
Aug 19, 2026
Paid in the last twelve months
$4.00
Payment dateDividend per share
2026-08-19$1.00
2026-05-20$1.00
2026-02-18$1.00
2025-11-19$1.00
2025-08-20$0.91
2025-05-21$0.91
2025-02-19$0.91
2024-11-20$0.91

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$25.74
2026-08-04Jun 2026$14.52
2026-05-05Mar 2026$0.72
2026-02-03Dec 2025$2.73
2025-11-04Sep 2025$3.11
2025-08-05Jun 2025$3.22
2025-05-06Mar 2025-$0.63
2025-02-04Dec 2024$0.06

Filings and sources

Company website
marathonpetroleum.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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