MPLX LP (MPLX)
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.
- Symbol
- MPLX
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Market cap
- $59.99B
- 52 week range
- 47.8 - 60.95
Valuation
- Share price
- $58.81 (close of 2026-09-23)
- P/E (TTM)
- 12.62x
- Price to book
- 4.21x
- Price to free cash flow
- 17.98x
- Enterprise value
- $85.09B
- Book value per share
- $14.05
Price performance
| Period | Change |
|---|
| 1 day | -0.47% |
| 5 days | +0.67% |
| 1 month | +0.68% |
| 3 months | +1.96% |
| 6 months | +0.27% |
| Year to date | +10.19% |
| 1 year | +17.31% |
| 3 years | +67.88% |
| 5 years | +104.27% |
| 10 years | +78.97% |
| All time | +116.21% |
Profitability and growth
- Return on equity
- 34.09%
- Return on invested capital
- 15.42%
- Return on assets
- 11.51%
- Return on capital employed
- 14.95%
- Gross margin
- 65.69%
- Net margin
- 50.92%
- EBITDA margin
- 61.10%
- Revenue growth
- 5.84%
- Net income growth
- 13.66%
- Free cash flow growth
- -16.13%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 5.56%
- Current ratio
- 0.89x
- Net debt to EBITDA
- 3.42x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $9.73B
- Cost of revenue
- $3.34B
- 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 | $9.73B | $6.39B | $4.95B | $4.86 |
| 2024-12-31 | $9.19B | $5.71B | $4.36B | $4.29 |
| 2023-12-31 | $8.73B | $5.28B | $3.93B | $3.92 |
| 2022-12-31 | $8.92B | $5.25B | $3.94B | $3.90 |
| 2021-12-31 | $8.02B | $4.34B | $3.08B | $0.00 |
| 2020-12-31 | $6.90B | $589.00M | $-720.00M | $0.00 |
| 2019-12-31 | $7.04B | - | $1.03B | $0.00 |
| 2018-12-31 | $5.45B | - | $1.82B | $0.00 |
| 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 | 65.69% | 50.92% | 34.09% | 15.42% |
| 2024-12-31 | 62.19% | 47.42% | 31.10% | 15.56% |
| 2023-12-31 | 60.45% | 44.98% | 28.92% | 14.62% |
| 2022-12-31 | 58.79% | 44.20% | 29.18% | 14.60% |
| 2021-12-31 | 54.17% | 38.36% | 23.64% | 29.54% |
| 2020-12-31 | 8.54% | -10.44% | -5.15% | 1.39% |
| 2019-12-31 | - | 14.67% | 5.88% | - |
| 2018-12-31 | - | 33.36% | 9.70% | - |
| 2017-12-31 | - | 20.53% | 7.24% | - |
| 2016-12-31 | - | 7.69% | 1.92% | - |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $2.14B |
| 2024-12-31 | $1.52B |
| 2023-12-31 | $1.05B |
| 2022-12-31 | $238.00M |
| 2021-12-31 | $13.00M |
| 2020-12-31 | $15.00M |
| 2019-12-31 | $15.00M |
| 2018-12-31 | $77.00M |
| 2017-12-31 | $5.00M |
| 2016-12-31 | $234.00M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $4.10B | - |
| 2024-12-31 | $4.89B | - |
| 2023-12-31 | $4.46B | - |
| 2022-12-31 | $4.21B | - |
| 2021-12-31 | $4.38B | - |
| 2020-12-31 | $3.34B | $14.00M |
| 2019-12-31 | $1.67B | $22.00M |
| 2018-12-31 | $960.00M | $24.00M |
| 2017-12-31 | $496.00M | $-15.00M |
| 2016-12-31 | $178.00M | $-10.00M |
Dividend history
- Most recent payment
- 2026-08-07
- Paid in the last twelve months
- $4.31
| Payment date | Dividend per share |
|---|
| 2026-08-07 | $1.08 |
| 2026-05-08 | $1.08 |
| 2026-02-09 | $1.08 |
| 2025-11-07 | $1.08 |
| 2025-08-08 | $0.96 |
| 2025-05-09 | $0.96 |
| 2025-02-03 | $0.96 |
| 2024-11-08 | $0.96 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-03
- Consensus EPS estimate
- $1.13
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-04 | Jun/2026 | $1.04 |
| 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
- mplx.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Williams Companies, Inc. (WMB) · Kinder Morgan, Inc. (KMI) · Targa Resources Corp. (TRGP) · ConocoPhillips (COP) · Occidental Petroleum Corp (OXY) · Devon Energy Corp (DVN) · EQT Corp (EQT) · APA Corp (APA)
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