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.
- Symbol
- MPC
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Refining & Marketing
- Market cap
- $112.62B
- 52 week range
- 161.93 - 431.08
Valuation
- Share price
- $388.38 (close of 2026-09-23)
- P/E (TTM)
- 13.43x
- Price to book
- 4.38x
- Price to free cash flow
- 8.73x
- Enterprise value
- $139.14B
- Book value per share
- $89.00
Price performance
| Period | Change |
|---|
| 1 day | -3.48% |
| 5 days | -5.47% |
| 1 month | +7.67% |
| 3 months | +56.28% |
| 6 months | +67.02% |
| Year to date | +138.81% |
| 1 year | +103.48% |
| 3 years | +153.08% |
| 5 years | +528.45% |
| 10 years | +818.59% |
| All time | +1984.70% |
Profitability and growth
- Return on equity
- 16.80%
- Return on invested capital
- 13.06%
- 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)
- 11.45%
- Current ratio
- 1.25x
- Net debt to EBITDA
- 1.51x
Latest reported year
- Period end
- 2025-12-31
- 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 end | Revenue | Gross profit | Net income | EPS |
|---|
| 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 end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 9.99% | 3.05% | 16.80% | 13.06% |
| 2024-12-31 | 9.09% | 2.48% | 14.18% | 11.85% |
| 2023-12-31 | 13.35% | 6.52% | 31.74% | 23.98% |
| 2022-12-31 | 14.53% | 8.18% | 42.55% | 33.78% |
| 2021-12-31 | 8.31% | 8.12% | 29.86% | 16.60% |
| 2020-12-31 | 5.80% | -14.08% | -33.59% | -29.00% |
| 2019-12-31 | 10.72% | 2.37% | 6.26% | 8.39% |
| 2018-12-31 | 10.50% | 3.23% | 6.31% | 9.01% |
| 2017-12-31 | 10.23% | 4.59% | 16.48% | 21.79% |
| 2016-12-31 | 10.43% | 1.86% | 5.81% | 9.19% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $3.67B |
| 2024-12-31 | $3.21B |
| 2023-12-31 | $10.22B |
| 2022-12-31 | $11.77B |
| 2021-12-31 | $10.84B |
| 2020-12-31 | $415.00M |
| 2019-12-31 | $1.39B |
| 2018-12-31 | $1.69B |
| 2017-12-31 | $3.01B |
| 2016-12-31 | $887.00M |
Free cash flow by year
| Period end | Free cash flow | Stock-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
- 2026-08-19
- Paid in the last twelve months
- $4.00
| Payment date | Dividend 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
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $23.15
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | $14.52 |
| 2026-05-05 | - | - |
| 2026-02-03 | - | - |
| 2025-11-04 | - | - |
| 2025-08-05 | - | - |
| 2025-05-06 | - | - |
| 2025-02-04 | - | - |
| 2024-11-05 | - | - |
Filings and sources
- Company website
- marathonpetroleum.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Valero Energy Corp (VLO) · Phillips 66 (PSX) · ConocoPhillips (COP) · Occidental Petroleum Corp (OXY) · Devon Energy Corp (DVN) · EQT Corp (EQT) · APA Corp (APA) · SLB Limited (SLB)
All Energy companies
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades