MPC
NYSE · USDMarathon Petroleum Corporation
Energy · Oil & Gas Refining & Marketing
CEO Maryann T. Mannen
Employees 18,500
R&D / revenue 0.0%
Last price
$478.07+0.24%last session
Market cap
$134.3B
P/E (TTM)
16.5x
From 52w high
−1.5%
From 52w low
+195.2%
1-year return
+165.3%
RSI 14 · vs SMA200
74.7 · +73.1%
IS score
72.5/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
MPC SPY XLE (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe51Profitability
73Growth
74Value
94Momentum
90Risk (safety)
72Quality
49Balance sheet
70Earnings quality
Flags
Strengths
✓ Piotroski 8+✓ FCF yield 5%+
Warnings
None of the computed warning flags fires for MPC (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 9 / 9Altman Z 3.5Beta 0.532 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
9 open-market sales, $7.4M
Form 144 notices (12m): 18, $46.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+59
176 new holders, 94 closed
1,942 filers hold 76.1% · 683 added, 710 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+64
1,152 funds adding shares
1,088 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
59.4%
20-day avg 55.2%, 50-day avg 58.3%
Latest 4.2 pp over its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$132.5B
Revenue growth YoY−4.6%
Gross margin7.4%
Operating income$6.5B
Operating margin4.9%
Net income$4.0B
Net margin3.1%
EPS (diluted)$13.27
Cash flow
Operating cash flow$8.3B
Capital expenditure$3.5B
Free cash flow$4.8B
FCF conversion (FCF / OCF)57.8%
Stock-based compensation$0
FCF less SBC$4.8B
Buybacks$3.5B
Dividends$1.1B
Balance sheet & returns
Cash & short-term investments$3.7B
Total debt$32.8B
Net debt$29.1B
Shareholders' equity$24.1B
Goodwill & intangibles$12.1B
Debt / equity1.80
ROE (TTM)48.7%
ROIC (TTM)14.2%
Operating margin by fiscal year
Revenue $120.0B (FY2021) to $132.5B (FY2025), a 2.5% CAGR.
Valuation
P/E (TTM)16.5x
EV / EBITDA9.2x
Price / sales0.87x
Price / FCF10.4x
FCF yield9.61%
Buyback yield2.60%
SBC / revenue0.0%
Price / book7.29x
Forward P/E FY20267.5x
Forward P/E FY20278.7x
Forward P/E FY202817.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $415.06 across 17 analysts last quarter is theirs, not ours.
MPC vs industry median
55 companies in Oil & Gas Refining & Marketing
MPC (TTM)Industry median
Asset turnover 1.63 vs industry 1.74 · financial leverage 4.94
Earnings delivery
Next report 2026-11-03 · consensus EPS $25.3592%
beat rate, 11 of 12 quarters
+41.5%
median EPS surprise
8
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-31 to 2026-08-04. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| MPC Marathon Petroleum Corporati | $134.3B | 16.5x | 48.7% | 5.6% | −4.6% | +165.3% |
| VLO Valero Energy Corporation | $128.0B | 18.4x | 29.4% | 10.2% | +7.4% | +186.2% |
| PSX Phillips 66 | $117.5B | 16.6x | 24.0% | 7.5% | +15.6% | +130.3% |
| DINO HF Sinclair Corporation | $22.3B | 11.9x | 19.6% | 8.6% | +16.3% | +155.5% |
| BP BP p.l.c. | $131.7B | 23.7x | 9.3% | 5.6% | +17.0% | +55.3% |
| EQNR Equinor ASA | $112.3B | 12.5x | 21.3% | 14.0% | +6.7% | — |
| PBR Petróleo Brasileiro S.A. - | $167.6B | 6.4x | 30.8% | 31.0% | +20.8% | — |
| COP ConocoPhillips | $176.0B | 19.4x | 14.2% | 20.5% | +9.7% | — |
12-month window: SPY +15.9%, sector ETF XLE +60.0%. Past returns describe history only.
Recent 8-K filings
2026-08-04Earnings Release; Exhibits
2026-06-29Other Events
2026-05-05Earnings Release; Exhibits
2026-05-01Shareholder Vote
2026-04-13Material Agreement; Termination of Agreement; Earnings Release; Financial Obligation; Exhibits
2026-02-03Results of Operations and Financial Condition; Financial Statements and Exhibits
Context
Shares outstanding280,825,000
Free float99.7%
Institutional ownership76.1%
Beta0.53
Dividend yield0.84%
Last dividend$1.00 on 2026-08-19
50 / 200-day average$392.25 / $274.78
Large-cap Energy median P/E17.7x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where MPC sits among 14 scored companies in Oil & Gas Refining & Marketing (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | MPC | Industry percentile |
|---|---|---|
| P/E (TTM) | 15.7x | 44th |
| PEG (P/E ÷ 3-yr EPS CAGR) | — | |
| Price / sales | 0.9x | 85th |
| Price / book | 7.0x | 75th |
| Price / tangible book | 10.4x | 90th |
| Price / free cash flow | 10.4x | 40th |
| Price / operating cash flow | 7.8x | 46th |
| Enterprise value | $160.8B | 100th |
| EV / sales | 1.0x | 85th |
| EV / EBITDA | 9.2x | 46th |
| EV / EBIT | 11.4x | 40th |
| EV / free cash flow | 12.5x | 40th |
| Earnings yield | 6.4% | 69th |
| FCF yield | 9.6% | 69th |
| Operating cash flow yield | 12.8% | 54th |
| Graham number (per share) | $208.23 | 89th |
Profitability (TTM)
| Measure | MPC | Industry percentile |
|---|---|---|
| Gross margin | 11.6% | 69th |
| EBITDA margin | 11.3% | 85th |
| Operating margin | 8.0% | 85th |
| EBIT margin | 9.2% | 92nd |
| Net margin | 5.6% | 85th |
| NOPAT margin | 6.4% | 85th |
| FCF margin | 8.4% | 100th |
| Operating cash flow margin | 11.1% | 100th |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 2.2% | 69th |
| Stock comp / revenue | 0.0% | 0th |
| Effective tax rate | 19.3% | 15th |
Returns on capital
| Measure | MPC | Industry percentile |
|---|---|---|
| ROE (on average equity) | 47.9% | 83rd |
| ROA | 9.9% | 77th |
| ROIC | 21.7% | 85th |
| ROCE | 21.1% | 85th |
| Return on tangible assets | 16.4% | 85th |
| Cash ROIC (OCF / invested capital) | 37.6% | 85th |
| Gross profitability (GP / assets) | 19.0% | 62nd |
| ROIC, 3-yr average | 13.2% | 83rd |
| ROIC, 5-yr average | 17.5% | 82nd |
| ROE, 5-yr average | 34.4% | 91st |
| Incremental ROIC | 121.7% | 45th |
Growth
| Measure | MPC | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 15.3% | 75th |
| Revenue growth (QoQ) | 50.4% | 85th |
| Revenue CAGR, 3 yr | -0.6% | 83rd |
| Revenue CAGR, 5 yr | 11.9% | 50th |
| Gross profit CAGR, 3 yr | -3.9% | 33rd |
| Operating income CAGR, 3 yr | -13.3% | 20th |
| Net income growth (TTM YoY) | 300.7% | 50th |
| Net income CAGR, 3 yr | -12.5% | 57th |
| EPS growth (TTM YoY) | 325.4% | 75th |
| EPS CAGR, 3 yr | -1.1% | 86th |
| EPS CAGR, 5 yr | 20.5% | |
| FCF growth (TTM YoY) | 253.7% | 71st |
| FCF CAGR, 3 yr | 0.9% | 88th |
| Operating cash flow CAGR, 3 yr | 4.7% | 83rd |
| Book value CAGR, 3 yr | 2.2% | 45th |
| Dividend CAGR, 3 yr | 14.0% | 90th |
| Sustainable growth rate | 41.4% | 78th |
Margin history & stability
| Measure | MPC | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 8.9% | 58th |
| Operating margin, 3-yr average | 6.3% | 92nd |
| Net margin, 3-yr average | 4.0% | 92nd |
| FCF margin, 3-yr average | 5.7% | 100th |
| Revenue stability (0-1) | 0.52 | 67th |
| Earnings stability (0-1) | 0.09 | 58th |
| Margin stability (0-1) | 0.60 | 67th |
Liquidity (latest quarter)
| Measure | MPC | Industry percentile |
|---|---|---|
| Cash & short-term investments | $7.8B | 92nd |
| Net cash (− = net debt) | −$26.5B | 0th |
| Working capital | $6.9B | 92nd |
| Current ratio | 1.25 | 38th |
| Quick ratio | 0.89 | 38th |
| Cash ratio (cash + ST investments / current liabilities) | 0.28 | 62nd |
| Defensive interval (days) | 1,520 days | 67th |
Leverage & solvency (latest quarter)
| Measure | MPC | Industry percentile |
|---|---|---|
| Total debt | $34.3B | 100th |
| Debt / equity | 1.80 | 67th |
| Net debt / equity | 1.39 | 67th |
| Debt / assets | 36.4% | 62nd |
| Debt / capital | 64.3% | 67th |
| Debt / EBITDA | 1.97 | 46th |
| Net debt / EBITDA | 1.52 | 54th |
| Interest coverage (EBIT / interest) | 9.1x | 67th |
| Cash interest coverage | 11.0x | 69th |
| Debt payback (years of OCF) | 2.0 yrs | 23rd |
| Liabilities / assets | 72.7% | 54th |
| IS credit model rating | A+ | |
| Implied credit spread (bps) | 125 | 23rd |
Efficiency
| Measure | MPC | Industry percentile |
|---|---|---|
| Asset turnover | 1.78 | 31st |
| Fixed asset turnover | 3.90 | 38th |
| Inventory turnover | 13.6 | 38th |
| Receivables turnover | 11.5 | 15th |
| Days sales outstanding | 32 days | 85th |
| Days inventory outstanding | 27 days | 62nd |
| Days payables outstanding | 44 days | 92nd |
| Cash conversion cycle (days) | 15 days | 46th |
| Capex / revenue | 2.7% | 77th |
| Capex / depreciation | 1.27 | 85th |
| Operating expense ratio | 3.1% | 42nd |
Cash flow & earnings quality
| Measure | MPC | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 2.00 | 60th |
| FCF / net income | 1.51 | 70th |
| FCF / operating cash flow | 75.3% | 69th |
| Capex / operating cash flow | 24.7% | 31st |
| Accruals ratio | -9.9% | 23rd |
| Sloan accruals ratio | -1.1% | 54th |
| Earnings quality score (0-1) | 0.75 | 10th |
Scores & forensic checks
| Measure | MPC | Industry percentile |
|---|---|---|
| IS score | 72 | 85th |
| IS profitability | 51 | 85th |
| IS growth | 73 | 75th |
| IS value | 74 | 69th |
| IS momentum | 94 | 75th |
| IS risk (safety) | 90 | 46th |
| IS quality | 72 | 62nd |
| IS balance sheet | 49 | 46th |
| IS earnings quality | 70 | 38th |
| IS cash flow | 67 | 85th |
| Piotroski F-score (0-9) | 9 | 69th |
| Altman Z-score | 3.5 | 46th |
| Beneish M-score | −2.67 | 42nd |
| Ohlson O-score | −8.25 | 38th |
| IS credit score | 80 | 69th |
Size (TTM)
| Measure | MPC | Industry percentile |
|---|---|---|
| Market cap | $134.3B | 100th |
| Revenue | $153.9B | 100th |
| EBITDA | $17.4B | 100th |
| Net income | $8.6B | 100th |
| Free cash flow | $12.9B | 100th |
| Total assets | $94.3B | 100th |
| Shareholders' equity | $19.1B | 85th |
| Employees | 18,500 | 100th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-08-31 | Lyon Shawn M SVP Log & Storage, MPLX GP LLC |
Open-market sale | 1,000 | $375.75 | $375,750 | 11,194 |
| 2026-08-28 | Lyon Shawn M SVP Log & Storage, MPLX GP LLC |
Open-market sale | 425 | $368.51 | $156,617 | 12,194 |
| 2026-08-27 | Brzezinski Erin M VP and Controller |
Open-market sale | 570 | $362.79 | $206,790 | 1,576 |
| 2026-08-17 | Benson Molly R Chief Legal Ofc & Corp Sec |
Open-market sale | 5,000 | $358.57 | $1.8M | 30,334 |
| 2026-08-13 | Lyon Shawn M SVP Log & Storage, MPLX GP LLC |
Open-market sale | 2,500 | $350.00 | $875,000 | 12,619 |
| 2026-08-12 | Henschen Michael A Ii Ex VP, Refining |
Open-market sale | 6,011 | $341.56 | $2.1M | 10,889 |
| 2026-08-03 | Mannen Maryann T. Director, Chairman, President & CEO |
Tax withholding | 908 | $311.78 | $283,096 | 110,939 |
| 2026-06-04 | Henschen Michael A Ii Ex VP, Refining |
Open-market sale | 1,372 | $268.75 | $368,725 | 16,900 |
| 2026-06-04 | Henschen Michael A Ii Ex VP, Refining |
Open-market sale | 4,964 | $268.85 | $1.3M | 16,900 |
| 2026-05-13 | Hessling Ricky D. Chief Commercial Officer |
Open-market sale | 1,000 | $250.00 | $250,000 | 6,525 |
| 2026-04-30 | Surma John P Director |
Award / grant | 728 | — | — | 60,901 |
| 2026-04-30 | Stice J Michael Director |
Award / grant | 728 | — | — | 24,721 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 10 | 7,277 | — |
| Open-market sale | Disposed | 9 | 22,842 | $7.4M |
| Tax withholding | Disposed | 1 | 908 | $283,096 |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
12 months: 18 notices · 193,887 shares · $46.6M| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2026-08-31 | Lyon Shawn M | 1,000 | $375,735 |
| 2026-08-28 | Lyon Shawn M | 425 | $156,608 |
| 2026-08-27 | Brzezinski Erin M | 570 | $206,790 |
| 2026-08-24 | Hagedorn Carl Kristopher | 897 | $323,961 |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 18 trades (0 purchases) · Senate 0 (0 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-09-22 | David Taylor | House | Sale | $1,001 - $15,000 | 2026-10-02 |
| 2026-09-22 | David Taylor | House | Sale | $1,001 - $15,000 | 2026-10-02 |
| 2026-09-22 | David Taylor | House | Sale | $1,001 - $15,000 | 2026-10-02 |
| 2026-07-24 | David Taylor | House | Sale | $1,001 - $15,000 | 2026-08-07 |
| 2020-08-21 | Jerry Moran | Senate | Sale (Full) | $1,001 - $15,000 | 2020-09-08 |
| 2020-08-21 | Jerry Moran | Senate | Sale (Full) | $1,001 - $15,000 | 2020-09-07 |
| 2020-08-21 | Jerry Moran | Senate | Sale (Full) | $1,001 - $15,000 | 2020-09-07 |
| 2020-04-07 | Kelly Loeffler | Senate | Sale (Full) | $100,001 - $250,000 | 2020-05-01 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 26,006,017 | $6.6B | 9.26% |
| VANGUARD CAPITAL MANAGEMENT LLC | 19,074,289 | $4.9B | 6.79% |
| STATE STREET CORP | 18,471,905 | $4.7B | 6.58% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 15,631,265 | $4.0B | 5.57% |
| GEODE CAPITAL MANAGEMENT, LLC | 8,351,157 | $2.1B | 2.97% |
| RAYMOND JAMES FINANCIAL INC | 5,684,963 | $1.5B | 2.02% |
| FMR LLC | 5,419,718 | $1.4B | 1.93% |
| Bank of New York Mellon Corp | 3,986,512 | $1.0B | 1.42% |
| MORGAN STANLEY | 3,813,400 | $975.0M | 1.36% |
| Boston Partners | 3,383,932 | $872.2M | 1.20% |
| WELLINGTON MANAGEMENT GROUP LLP | 3,252,153 | $831.5M | 1.16% |
| DIMENSIONAL FUND ADVISORS LP | 3,056,082 | $781.5M | 1.09% |
| GOLDMAN SACHS GROUP INC | 2,884,591 | $737.5M | 1.03% |
| NORTHERN TRUST CORP | 2,514,091 | $642.8M | 0.90% |
| NORGES BANK | 2,465,801 | $630.4M | 0.88% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 1,942 | 76.1% | 176 | 683 | 710 | 94 |
| 2026-03-31 | 1,883 | 75.9% | 352 | 564 | 673 | 109 |
| 2025-12-31 | 1,668 | 76.8% | 207 | 569 | 570 | 149 |
| 2025-09-30 | 1,648 | 75.5% | 195 | 494 | 617 | 78 |
| 2025-06-30 | 1,561 | 79.8% | 152 | 528 | 585 | 124 |
| 2025-03-31 | 1,552 | 81.2% | 140 | 486 | 637 | 114 |
| 2024-12-31 | 1,549 | 81.2% | 185 | 459 | 643 | 173 |
| 2024-09-30 | 1,564 | 81.7% | 112 | 525 | 619 | 164 |
| 2024-06-30 | 1,632 | 85.9% | 126 | 587 | 595 | 145 |
| 2024-03-31 | 1,677 | 90.2% | 258 | 483 | 644 | 96 |
| 2023-12-31 | 1,534 | 95.0% | 202 | 466 | 579 | 101 |
| 2023-09-30 | 1,452 | 99.4% | 211 | 445 | 546 | 69 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-04-30 | SCHEDULE 13G | Vanguard Capital Management | 7.5% | 22,147,567 |
| 2026-04-29 | SCHEDULE 13G | Vanguard Portfolio Management | 5.3% | 15,765,266 |
| 2025-07-29 | SCHEDULE 13G/A | The Vanguard Group | 12.7% | 38,865,857 |
| 2025-04-30 | SCHEDULE 13G/A | The Vanguard Group | 11.2% | 34,941,144 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VITSX | 0.15% | $3.5B |
| VSMPX | 0.15% | $3.5B |
| VTSAX | 0.15% | $3.5B |
| VTI | 0.15% | $3.5B |
| VFIAX | 0.17% | $2.9B |
| VOO | 0.17% | $2.9B |
Share structure
Shares outstanding280,825,000
Float279,990,713
Free float99.7%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $120.0B | $177.5B | $148.4B | $138.9B | $132.5B |
| Cost of revenue | $113.4B | $154.9B | $131.9B | $129.6B | $122.7B |
| Gross profit | $6.6B | $22.6B | $16.5B | $9.3B | $9.8B |
| R&D | $0 | $0 | $0 | $0 | $0 |
| SG&A | $2.5B | $2.8B | $3.0B | $3.2B | $3.3B |
| Operating income | $4.3B | $21.5B | $12.6B | $5.2B | $6.5B |
| EBITDA | $7.4B | $24.9B | $18.6B | $10.6B | $11.5B |
| Pretax income | $2.8B | $20.5B | $14.0B | $6.0B | $7.0B |
| Income tax | $264.0M | $4.5B | $2.8B | $890.0M | $1.1B |
| Net income | $9.7B | $14.5B | $9.7B | $3.4B | $4.0B |
| EPS, diluted | $2.69 | $28.12 | $23.65 | $10.09 | $13.27 |
| Diluted shares | 638.0M | 516.0M | 409.0M | 341.0M | 305.0M |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $10.8B | $11.8B | $10.2B | $3.2B | $3.7B |
| Receivables | $11.0B | $13.5B | $12.2B | $11.1B | $10.3B |
| Inventory | $8.1B | $8.8B | $9.3B | $9.6B | $10.1B |
| Total current assets | $30.5B | $35.2B | $32.1B | $24.4B | $24.8B |
| PP&E, net | $38.8B | $36.9B | $36.3B | $36.3B | $38.9B |
| Goodwill & intangibles | $8.3B | $8.2B | $8.2B | $8.2B | $12.1B |
| Total assets | $85.4B | $89.9B | $86.0B | $78.9B | $85.6B |
| Accounts payable | $13.7B | $15.3B | $13.8B | $13.9B | $13.0B |
| Total current liabilities | $17.9B | $20.0B | $20.1B | $20.8B | $19.7B |
| Long-term debt | $25.0B | $25.6B | $25.3B | $24.4B | $29.9B |
| Total liabilities | $51.8B | $54.8B | $54.6B | $54.4B | $61.5B |
| Shareholders' equity | $33.6B | $35.1B | $31.4B | $24.5B | $24.1B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $11.0B | $16.1B | $11.2B | $5.1B | $4.0B |
| Depreciation & amortization | $3.4B | $3.2B | $3.3B | $3.3B | $3.4B |
| Stock-based compensation | $0 | $0 | $0 | $0 | $0 |
| Change in working capital | $931.0M | −$1.7B | $295.0M | $399.0M | −$657.0M |
| Operating cash flow | $4.4B | $16.4B | $14.1B | $8.7B | $8.3B |
| Capital expenditure | −$1.5B | −$2.4B | −$1.9B | −$2.5B | −$3.5B |
| Free cash flow | $2.9B | $13.9B | $12.2B | $6.1B | $4.8B |
| Investing cash flow | $14.8B | $623.0M | −$3.1B | $1.5B | −$6.3B |
| Net debt issued / repaid | −$6.3B | $1.1B | $510.0M | −$353.0M | $4.6B |
| Buybacks | −$4.7B | −$11.9B | −$11.6B | −$9.2B | −$3.5B |
| Dividends paid | −$1.5B | −$1.3B | −$1.3B | −$1.2B | −$1.1B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 5.5% | 12.7% | 11.1% | 6.7% | 7.5% |
| Operating margin | 3.6% | 12.1% | 9.4% | 4.7% | 4.6% |
| Net margin | 8.1% | 8.2% | 6.5% | 2.5% | 3.0% |
| FCF margin | 2.4% | 7.9% | 8.2% | 4.4% | 3.6% |
| ROE | 40.2% | 53.8% | 37.1% | 16.3% | 23.1% |
| ROIC | 9.2% | 38.2% | 26.1% | 12.7% | 10.7% |
| ROA | 11.4% | 16.6% | 11.0% | 4.2% | 4.9% |
| Debt / equity | 1.03 | 1.01 | 1.17 | 1.62 | 1.98 |
| Interest coverage | 3.1x | 17.8x | 11.9x | 5.4x | 6.0x |
| Current ratio | 1.70 | 1.76 | 1.59 | 1.17 | 1.26 |
| Revenue growth | +71.9% | +47.9% | −16.4% | −6.4% | −4.4% |
| EPS growth | +205.8% | +94.0% | −17.2% | −58.2% | +26.1% |
| P/E at year end | 3.7x | 3.5x | 5.5x | 12.7x | 12.0x |
| EV / EBITDA at year end | 6.9x | 2.7x | 3.9x | 6.5x | 6.8x |
| FCF yield at year end | 8.14% | 27.32% | 22.80% | 14.00% | 9.80% |
| Dividend payout | 15.2% | 8.8% | 13.0% | 33.5% | 28.2% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Refining And Marketing | $115.3B | $172.1B | $143.5B | $131.6B | $124.3B |
| Midstream | $4.6B | $5.4B | $4.9B | $5.2B | $5.6B |
| Renewable Diesel | — | — | — | $2.1B | $2.8B |
Street estimates by fiscal year
Next report 2026-11-03 · consensus EPS $25.35 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $180.5B | $157.8B – $194.0B | $64.16 | $57.71 – $72.50 | 10 | 7.5x |
| 2027 | $167.2B | $112.4B – $199.8B | $55.09 | $38.73 – $69.89 | 11 | 8.7x |
| 2028 | $158.0B | $134.6B – $207.5B | $27.61 | $16.83 – $39.19 | 5 | 17.3x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-08-04 | $14.27 | $17.73 | +24.2% | $40.9B | $52.3B | +28.1% |
| 2026-05-05 | $0.74 | $1.65 | +123.3% | $33.4B | $34.6B | +3.4% |
| 2026-02-03 | $2.72 | $4.07 | +49.6% | $31.1B | $33.4B | +7.5% |
| 2025-11-04 | $3.15 | $3.01 | −4.4% | $33.5B | $34.8B | +4.1% |
| 2025-08-05 | $3.24 | $3.96 | +22.2% | $33.3B | $33.8B | +1.4% |
| 2025-05-06 | $-0.54 | $-0.24 | +55.7% | $31.9B | $31.9B | −0.1% |
| 2025-02-04 | $0.02 | $0.77 | +3,400.0% | $33.1B | $33.5B | +1.0% |
| 2024-11-05 | $0.98 | $1.87 | +90.8% | $34.3B | $35.4B | +3.0% |
| 2024-08-06 | $3.09 | $4.12 | +33.3% | $36.7B | $37.8B | +3.0% |
| 2024-04-30 | $2.42 | $2.58 | +6.6% | $32.1B | $32.7B | +2.0% |
| 2024-01-30 | $2.20 | $3.98 | +80.9% | $34.7B | $36.3B | +4.8% |
| 2023-10-31 | $7.75 | $8.14 | +5.0% | $40.0B | $41.0B | +2.5% |
| 2023-08-01 | $4.59 | $5.32 | +15.9% | $34.1B | $36.4B | +6.7% |
| 2023-05-02 | $5.74 | $6.09 | +6.1% | $35.6B | $34.9B | −2.0% |
| 2023-01-31 | $5.67 | $6.65 | +17.3% | $33.9B | $39.9B | +17.7% |
| 2022-11-01 | $7.07 | $7.81 | +10.5% | $35.8B | $45.8B | +27.7% |
| 2022-08-02 | $8.04 | $10.61 | +32.0% | $40.3B | $54.2B | +34.4% |
| 2022-05-03 | $1.11 | $1.49 | +34.2% | $30.8B | $38.4B | +24.5% |
| 2022-02-02 | $0.56 | $1.30 | +132.1% | $21.2B | $35.4B | +67.5% |
| 2021-11-02 | $0.72 | $0.73 | +1.4% | $23.1B | $32.5B | +40.5% |
| 2021-08-04 | $0.45 | $0.67 | +48.9% | $21.8B | $29.7B | +36.3% |
| 2021-05-04 | $-0.72 | $-0.20 | +72.2% | $19.3B | $22.8B | +18.2% |
| 2021-02-02 | $-1.42 | $-0.94 | +33.8% | $24.0B | $18.0B | −24.8% |
| 2020-11-02 | $-1.75 | $-1.00 | +42.9% | $29.6B | $17.4B | −41.1% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $1.0B | 2,682,920 | 77,195 |
| 2026-08-24 | $916.3M | 2,532,336 | 72,960 |
| 2026-08-17 | $1.1B | 2,923,249 | 83,083 |
| 2026-08-10 | $984.7M | 2,899,955 | 89,486 |
| 2026-08-03 | $998.8M | 3,269,751 | 93,184 |
| 2026-07-27 | $773.7M | 2,484,279 | 72,401 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 59.4% | 531,112 | 894,573 |
| 2026-10-14 | 47.0% | 351,499 | 747,669 |
| 2026-10-13 | 55.9% | 391,243 | 699,818 |
| 2026-10-12 | 60.4% | 321,182 | 531,335 |
| 2026-10-09 | 60.2% | 490,600 | 814,946 |
| 2026-10-08 | 54.3% | 673,398 | 1,239,108 |
| 2026-10-07 | 59.0% | 422,697 | 716,646 |
| 2026-10-06 | 59.1% | 307,911 | 521,111 |
| 2026-10-05 | 59.4% | 553,652 | 932,583 |
| 2026-10-02 | 62.6% | 576,285 | 920,985 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +3.5% | 73% | 15 |
| Feb | +2.8% | 67% | 15 |
| Mar | +0.9% | 67% | 15 |
| Apr | +1.9% | 43% | 14 |
| May | +1.9% | 57% | 14 |
| Jun | +0.8% | 53% | 15 |
| Jul | +4.1% | 93% | 15 |
| Aug | +1.4% | 60% | 15 |
| Sep | −1.3% | 53% | 15 |
| Oct | +5.1% | 80% | 15 |
| Nov | +3.8% | 53% | 15 |
| Dec | −1.8% | 40% | 15 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1474.7
MFI77.5
ADX38.7
Stochastic %K / %D95.0 / 95.9
Williams %R-6.7
CCI108
TSI / signal48.0 / 41.1
Chaikin money flow0.03
ATR$15.52
Bollinger width32.2%
Volume vs 20-day avg0.59x
SupertrendUp
Moving averages and bands
level (price vs level)SMA 20$429.32 (+11.4%)
SMA 50$395.67 (+20.8%)
SMA 200$276.12 (+73.1%)
EMA 21$438.10 (+9.1%)
EMA 50$399.01 (+19.8%)
EMA 200$300.23 (+59.2%)
Bollinger upper$498.44 (−4.1%)
Bollinger lower$360.21 (+32.7%)
Parabolic SAR$442.39 (+8.1%)
Open the live chart, 110+ indicatorsAbout Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) functions as a prominent integrated energy enterprise, primarily concentrating its downstream operations across the United States. Its business is bifurcated into two main divisions: Refining & Marketing, and Midstream. The Refining & Marketing segment is responsible for processing crude oil and various other raw materials at its refineries, strategically located in the U.S. Gulf Coast, Mid-Continent, and West Coast regions. This division also acquires refined petroleum products and ethanol for subsequent distribution. Key outputs from this segment encompass a diverse array of transportation fuels, including different gasoline blends, heavy fuel oil, and asphalt. Additionally, it manufactures chemicals such as aromatics, propane, propylene, and sulfur. MPC sells these refined goods through multiple channels, including wholesale marketers domestically and globally, purchasers on the open spot market, and independent entrepreneurs who manage primarily Marathon-branded retail locations. It also supplies fuel via long-term agreements to direct dealer sites, predominantly under the ARCO brand. The Midstream segment handles the comprehensive movement, storage, distribution, and commercialization of crude oil and refined products. This is achieved through its extensive network of refining logistics assets, pipelines, terminals, towboats, and barges. Moreover, this segment engages in the collection, processing, and transportation of natural gas, alongside the gathering, transport, fractionation, storage, and marketing of natural gas liquids. By December 31, 2021, the corporation supported 7,159 branded jobber retail points, managed by independent entrepreneurs, spanning 37 U.S. states, the District of Columbia, and Mexico. Marathon Petroleum Corporation, established in 1887, maintains its corporate headquarters in Findlay, Ohio.
https://www.marathonpetroleum.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Maryann T. Mannen | President, CEO & Chairman of the Board | $5.2M | 1963 |
| Maria A. Khoury | Executive Vice President & Chief Financial Officer | $2.1M | 1971 |
| Rick D. Hessling | Chief Commercial Officer | $1.7M | 1967 |
| Molly R. Benson | Chief Legal Officer & Corporate Secretary | $1.7M | 1967 |
| Brian Worthington | Vice President of Investor Relations | — | — |
| Ehren D. Powell | Senior VP & Chief Digital Officer | — | 1980 |
| James R. Wilkins | Senior Vice President of Health, Environment, Safety & Security | — | 1967 |
| Marlon J. Sullivan | Senior Vice President of Communications & Chief Human Resources Officer | — | 1975 |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Maryann T. Mannen President and CEO | 2025 | $1.4M | $13.4M | $3.3M | $19.0M |
| Michael J. Hennigan Executive Chairman | 2025 | $1.1M | $9.1M | $2.5M | $14.1M |
| John J. Quaid Executive Vice President and CFO | 2025 | $830,027 | $3.5M | $1.2M | $5.9M |
| Timothy J. Aydt Former Executive Vice President Refining | 2025 | $890,000 | $2.1M | $1.3M | $5.5M |
| Rick D. Hessling Chief Commercial Officer | 2025 | $693,767 | $2.1M | $900,900 | $4.1M |
| Molly R. Benson Chief Legal Officer and Corporate Secretary | 2025 | $687,534 | $2.1M | $900,900 | $4.1M |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-08-19 | $1 | 2026-09-10 |
| 2026-05-20 | $1 | 2026-06-10 |
| 2026-02-18 | $1 | 2026-03-10 |
| 2025-11-19 | $1 | 2025-12-10 |
| 2025-08-20 | $0.91 | 2025-09-10 |
| 2025-05-21 | $0.91 | 2025-06-10 |
| 2025-02-19 | $0.91 | 2025-03-10 |
| 2024-11-20 | $0.91 | 2024-12-10 |
Moat model
Narrow · Efficient Scale · 2026-06-30Cost advantage54
Intangibles61
Switching costs41
Network effect40
Efficient scale95
Our component scores (0-100) and overall 56.6; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17