MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate. It also engages in inland marine businesses, comprising fleet of boats and barges transport light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions, as well as a marine repair facility located on the Ohio River; and distribution of fuel, as well as operates refining logistics, terminals, rail facilities, and storage caverns. In addition, it operates terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products through the pipeline, rail, marine, and truck transportation. MPLX GP LLC acts as the general partner of MPLX LP. The company was incorporated in 2012 and is headquartered in Findlay, Ohio. MPLX LP operates as a subsidiary of Marathon Petroleum Corporation.
Ticker
MPLX
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas Midstream
Market cap
$56.65B
52-week range
$50.22 - $60.95
Valuation
Share price
$55.91 (close of Nov 6, 2026)
P/E (TTM)
12.94x
Price to book
3.96x
Price to free cash flow
18.20x
Enterprise value
$82.44B
Book value per share
$14.10
Price performance
Period
Change
1 day
-1.13%
5 days
-7.06%
1 month
-3.22%
3 months
-7.46%
6 months
+0.45%
Year to date
+4.76%
1 year
+8.50%
3 years
+56.26%
5 years
+79.31%
10 years
+74.56%
All time
+105.55%
Short interest
As of
Oct 15, 2026
Short % of float
1.77%
Shares short
6.48M
Days to cover
5.23
Change since prior report
-3.04%
Source
FINRA consolidated short interest
Profitability and growth
Return on equity
34.09%
Return on invested capital
14.61%
Return on assets
11.51%
Return on capital employed
14.95%
Gross margin
49.15%
Net margin
38.10%
EBITDA margin
45.72%
Revenue growth
8.92%
Net income growth
13.66%
Free cash flow growth
-16.13%
Cash flow and balance sheet
Free cash flow yield (TTM)
5.50%
Current ratio
1.56x
Net debt to EBITDA
3.67x
Latest reported year
Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$13.00B
Cost of revenue
$6.61B
Gross profit
$6.39B
EBITDA
$5.94B
Net income
$4.95B
Earnings per share
$4.86
Interest expense
$983.00M
Shares outstanding
1.02B
Income statement by year
Period end
Revenue
Gross profit
Net income
EPS
2025-12-31
$13.00B
$6.39B
$4.95B
$4.86
2024-12-31
$11.93B
$5.71B
$4.36B
$4.29
2023-12-31
$11.28B
$5.28B
$3.93B
$3.92
2022-12-31
$11.61B
$5.25B
$3.94B
$3.90
2021-12-31
$10.03B
$4.34B
$3.08B
$2.86
2020-12-31
$6.90B
-
-$720.00M
-$0.80
2019-12-31
$9.04B
-
$1.03B
$1.00
2018-12-31
$7.00B
-
$1.82B
$2.29
2017-12-31
$3.87B
-
$794.00M
$0.00
2016-12-31
$3.03B
-
$233.00M
$0.00
Margins and returns by year
Period end
Gross margin
Net margin
Return on equity
Return on capital
2025-12-31
49.15%
38.10%
34.09%
14.61%
2024-12-31
47.89%
36.51%
31.10%
14.89%
2023-12-31
46.80%
34.82%
28.92%
14.17%
2022-12-31
45.17%
33.96%
29.18%
14.50%
2021-12-31
43.33%
30.69%
23.64%
12.63%
2020-12-31
-
-10.44%
-5.15%
0.61%
2019-12-31
-
11.43%
5.88%
3.88%*
2018-12-31
-
25.95%
9.70%
5.40%*
2017-12-31
-
20.53%
7.24%
4.67%*
2016-12-31
-
7.69%
1.92%
2.55%*
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.