COVERAGE / MPC / Energy

Marathon Petroleum Corp

Petroleum Refining

COVERAGE STATUSACTIVE

DATA THROUGH2025-12-31

RESEARCH REPORTS2

SELECTED FILINGS1

Fundamental matrix

Latest / 2025-12-31 · Prior / 2024-12-31 · USD · Annual periods

Revenue

$132.7bn

Prior / $138.86bn

Change / -4.44%

SOURCE / 2026-02-26

Operating income

$8.29bn

Prior / $6.8bn

Change / +22.00%

SOURCE / 2026-02-26

Net income

$4.05bn

Prior / $3.45bn

Change / +17.47%

SOURCE / 2026-02-26

Diluted EPS

$13.22

Prior / $10.08

Change / +31.15%

SOURCE / 2026-02-26

Free cash flow

$4.77bn

Prior / $6.13bn

Change / -22.26%

SOURCE / 2026-02-26

Gross margin

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

Operating margin

6.25%

Prior / 4.89%

Change / +1.35 pp

SOURCE / 2026-02-26

Return on avg. equity

23.09%

Prior / 16.35%

Change / +6.74 pp

SOURCE / 2026-02-26

Debt / equity

Not available

Prior / Not available

Change / Unavailable

SOURCE / Not available

ROE uses net income divided by average opening/closing equity. FCF = operating cash flow − selected capital expenditure. Debt/equity is unavailable because a verified interest-bearing-debt series is absent; total liabilities are not substituted for debt.

Inspect source tags, dates and accession numbers

{
  "revenue": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 132699000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax",
    "unit": "USD"
  },
  "netIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 4047000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:NetIncomeLoss",
    "unit": "USD"
  },
  "operatingIncome": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 8291000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:OperatingIncomeLoss",
    "unit": "USD"
  },
  "eps": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 13.22,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:EarningsPerShareDiluted",
    "unit": "USD/shares"
  },
  "operatingCashFlow": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 8253000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:NetCashProvidedByUsedInOperatingActivities",
    "unit": "USD"
  },
  "capex": {
    "start": "2025-01-01",
    "end": "2025-12-31",
    "val": 3486000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "frame": "CY2025",
    "tag": "us-gaap:PaymentsToAcquirePropertyPlantAndEquipment",
    "unit": "USD"
  },
  "totalAssets": {
    "end": "2025-12-31",
    "val": 83955000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "tag": "us-gaap:Assets",
    "unit": "USD"
  },
  "totalLiabilities": {
    "end": "2025-12-31",
    "val": 59869000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "tag": "us-gaap:Liabilities",
    "unit": "USD"
  },
  "shareholdersEquity": {
    "end": "2025-12-31",
    "val": 17314000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "tag": "us-gaap:StockholdersEquity",
    "unit": "USD"
  },
  "currentAssets": {
    "end": "2025-12-31",
    "val": 24780000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "tag": "us-gaap:AssetsCurrent",
    "unit": "USD"
  },
  "currentLiabilities": {
    "end": "2025-12-31",
    "val": 19678000000,
    "accn": "0001510295-26-000009",
    "fy": 2025,
    "fp": "FY",
    "form": "10-K",
    "filed": "2026-02-26",
    "tag": "us-gaap:LiabilitiesCurrent",
    "unit": "USD"
  }
}

Financial trend system

Annual financial trends are summarized in the accessible table below.

Annual figures / accessible table

Period end	Revenue	Net income	Free cash flow	EPS
2025-12-31	$132.7bn	$4.05bn	$4.77bn	$13.22
2024-12-31	$138.86bn	$3.45bn	$6.13bn	$10.08
2023-12-31	$148.38bn	$9.68bn	$12.23bn	$23.63
2022-12-31	$177.45bn	$14.52bn	$13.94bn	$28.12

Valuation context

Historical snapshot / 2026-09-17. Annual accounting period / 2025-12-31. Not current, TTM or forward valuation.

Dated ratios / eligible same-method sector sample
Measure	Snapshot value	Historical median	Sector median	Peer count
P/E	31.92x	Unavailable	28.66x	8
P/S	0.89x	Unavailable	2.09x	8
P/B	6.84x	Unavailable	2.97x	8
EV / EBITDA	Unavailable	Unavailable	Unavailable	0
FCF yield	4.02%	Unavailable	5.11%	2

Annual denominators, not TTM or forward. Capitalization-based measures use estimated market capitalization from the dated quote snapshot. ADR/share-basis uncertainty is excluded. No comparable historical-multiple series or EV/EBITDA is available. Sector samples are equal-weight medians of this publication’s eligible covered companies; fiscal periods differ. No fair value or price target is implied.

Source: Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-30 DAILY-BAR SOURCE ↗

Retained price snapshot and capitalization estimate

{
  "currentPrice": 421.96,
  "tradingDate": "2026-09-17",
  "marketCap": 118496816995.48,
  "source": "Yahoo Finance completed daily-bar snapshot; not live; market cap estimated using SEC shares at 2026-07-30"
}

Company & operating context

Marathon Petroleum Corp is an SEC-reporting issuer listed on NYSE under MPC. Its SEC industry description is Petroleum Refining. This profile organizes annual financial disclosures for research; sector labels are editorial groupings, not GICS classifications.

Producers, refiners and service providers respond differently to commodity prices, project spending and capacity utilization.

Segment-level revenue is not included in this standardized dataset. Consult the business and segment notes in the linked annual filing for the issuer’s actual reporting segments.

Filing timeline

10-KFILED / 2026-02-26PERIOD / 2025-12-31

MPC filed this 10-K on 2026-02-26 for the reported period 2025-12-31. Reading focus: Realized prices, production volumes, refining economics and capital expenditure. This is a metadata-based reading guide; it does not assert that a particular event or risk change occurred in the document.

ORIGINAL SEC DISCLOSURE ↗

Research archive

HR-0097MPCEarnings Review

MPC: the annual earnings and cash-flow comparison ↗

Marathon Petroleum Corp

Research abstract

A two-period review of MPC revenue, profitability and cash conversion; reported revenue growth was -4.44%.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

HR-0098MPCCompany Research

MPC: reading the FY2025 financial structure ↗

Marathon Petroleum Corp

Research abstract

Annual revenue of USD 132.699 billion and net income of USD 4.047 billion for the period ended 2025-12-31.

DATA THROUGH2025-12-312 MIN READPUBLISHED 2026-09-26

Sector context & risk factors

Commodity cycles, project execution, reserve replacement, environmental liabilities and geopolitical exposure.

Realized prices, production volumes, refining economics and capital expenditure.

ENERGY SYSTEM ↗

Sources & dates

SEC annual filing · 2025-12-31 ↗Source date 2026-02-26
SEC annual filing · 2024-12-31 ↗Source date 2026-02-26
SEC annual filing · 2023-12-31 ↗Source date 2026-02-26
SEC annual filing · 2022-12-31 ↗Source date 2025-02-27
SEC issuer record ↗Source date 2026-09-18