Marathon Petroleum (MPC)

NYSE Energy Oil & Gas Refining & Marketing S&P 500

$372.74

-4.58 (-1.21%)

Close of Nov 06, 2026 · end-of-day data

Source: Marathon Petroleum's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$63.28B	$74.73B	$86.09B	$111.15B	$69.78B	$119.98B	$177.45B	$148.38B	$138.86B	$132.70B
Cost of revenue	$56.68B	$67.09B	$77.05B	$99.23B	$65.73B	$110.01B	$151.67B	$128.57B	$126.24B	$119.45B
Gross profit	$6.60B	$7.64B	$9.04B	$11.92B	$4.05B	$9.97B	$25.78B	$19.81B	$12.62B	$13.25B
Selling, general & admin	$1.60B	$1.69B	$2.28B	$3.19B	$2.71B	$2.54B	$2.77B	$3.04B	$3.22B	$3.35B
Operating income	$2.39B	$4.02B	$4.69B	$4.46B	-$12.25B	$4.30B	$21.47B	$14.51B	$6.80B	$8.29B
Interest expense	$602.00M	$688.00M	$1.02B	$1.39B	$1.46B	$1.34B	$1.30B	$1.32B	$1.36B	$1.49B
Pre-tax income	$1.82B	$3.34B	$3.70B	$3.23B	-$13.61B	$2.82B	$20.47B	$13.99B	$5.96B	$7.01B
Income tax	$609.00M	-$460.00M	$764.00M	$784.00M	-$2.43B	$264.00M	$4.49B	$2.82B	$890.00M	$1.14B
Net income	$1.17B	$3.43B	$2.78B	$2.64B	-$9.83B	$9.74B	$14.52B	$9.68B	$3.44B	$4.05B
EBITDA	$4.39B	$6.13B	$6.86B	$7.69B	-$8.87B	$7.66B	$24.68B	$17.82B	$10.13B	$11.54B
EPS (basic)	$2.22	$6.76	$5.36	$4.00	$-15.13	$15.34	$28.31	$23.73	$10.11	$13.24
EPS (diluted)	$2.21	$6.70	$5.28	$3.97	$-15.13	$15.24	$28.12	$23.63	$10.08	$13.22
Diluted shares	530.00M	512.00M	526.00M	664.00M	649.00M	638.00M	516.00M	409.00M	341.00M	306.00M
Gross margin	10.4%	10.2%	10.5%	10.7%	5.8%	8.3%	14.5%	13.4%	9.1%	10.0%
Operating margin	3.8%	5.4%	5.4%	4.0%	-17.6%	3.6%	12.1%	9.8%	4.9%	6.2%
Net margin	1.9%	4.6%	3.2%	2.4%	-14.1%	8.1%	8.2%	6.5%	2.5%	3.0%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$887.00M	$3.01B	$1.69B	$1.39B	$415.00M	$5.29B	$8.62B	$5.44B	$3.21B	$3.67B
Short-term investments	—	—	—	—	—	$5.55B	$3.15B	$4.78B	$0	$0
Receivables	$3.62B	$4.70B	$5.85B	$7.23B	$5.76B	$11.03B	$13.48B	$12.19B	$11.14B	$10.32B
Inventory	$5.66B	$5.55B	$9.84B	$9.80B	$8.00B	$8.05B	$8.83B	$9.32B	$9.57B	$10.13B
Total current assets	$10.40B	$13.40B	$18.02B	$30.46B	$28.29B	$30.50B	$35.24B	$32.13B	$24.45B	$24.78B
Goodwill	$3.59B	$3.59B	$15.83B	$15.65B	$8.26B	$8.26B	$8.24B	$8.24B	$8.24B	$9.35B
Total assets	$44.41B	$49.05B	$92.94B	$98.56B	$85.16B	$85.37B	$89.90B	$85.99B	$78.86B	$83.95B
Total current liabilities	$7.15B	$10.48B	$13.22B	$16.95B	$15.66B	$17.90B	$20.02B	$20.15B	$20.83B	$19.68B
Short-term debt	$28.00M	$624.00M	$544.00M	$704.00M	$2.85B	$571.00M	$1.07B	$1.95B	$3.05B	$2.37B
Long-term debt	$10.54B	$12.32B	$26.98B	$28.02B	$28.73B	$24.97B	$25.63B	$25.33B	$24.43B	$30.50B
Total debt	$10.57B	$12.95B	$27.52B	$28.72B	$31.58B	$25.54B	$26.70B	$27.28B	$27.48B	$32.88B
Total liabilities	$23.21B	$27.22B	$47.89B	$55.45B	$54.94B	$51.79B	$54.82B	$54.59B	$54.35B	$59.87B
Shareholders' equity	$13.56B	$14.03B	$35.17B	$33.69B	$22.20B	$26.21B	$27.71B	$24.40B	$17.75B	$17.31B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$4.02B	$6.61B	$6.16B	$9.44B	$2.42B	$4.36B	$16.36B	$14.12B	$8.66B	$8.25B
Capital expenditures	$2.89B	$2.73B	$3.18B	$4.81B	$2.79B	$1.46B	$2.42B	$1.89B	$2.53B	$3.49B
Free cash flow	$1.12B	$3.88B	$2.98B	$4.63B	-$368.00M	$2.90B	$13.94B	$12.23B	$6.13B	$4.77B
Investing cash flow	-$2.97B	-$3.40B	-$7.67B	-$6.26B	-$3.26B	$14.80B	$623.00M	-$3.10B	$1.53B	-$5.87B
Financing cash flow	-$1.29B	-$1.09B	$222.00M	-$3.38B	-$135.00M	-$14.42B	-$13.65B	-$14.21B	-$12.43B	-$1.92B
Dividends paid	$719.00M	$773.00M	$954.00M	$1.40B	$1.51B	$1.48B	$1.28B	$1.26B	$1.15B	$1.14B
Share buybacks	$197.00M	$2.37B	$3.29B	$1.95B	$0	$4.65B	$11.92B	$11.57B	$9.19B	$3.49B
Stock-based compensation	$45.00M	$51.00M	$127.00M	$153.00M	$100.00M	$88.00M	$153.00M	$211.00M	$137.00M	$160.00M
Depreciation & amortization	$2.00B	$2.11B	$2.17B	$3.23B	$3.38B	$3.36B	$3.21B	$3.31B	$3.34B	$3.25B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$36.26B	$32.71B	$37.91B	$35.11B	$33.14B	$31.52B	$33.80B	$34.81B	$32.57B	$34.20B	$51.99B	$56.03B
Cost of revenue	$32.58B	$29.59B	$33.95B	$32.14B	$30.56B	$29.36B	$30.02B	$31.20B	$28.86B	$31.26B	$43.06B	$43.80B
Gross profit	$3.67B	$3.11B	$3.97B	$2.96B	$2.58B	$2.16B	$3.77B	$3.61B	$3.71B	$2.94B	$8.93B	$12.24B
Selling, general & admin	$820.00M	$779.00M	$823.00M	$815.00M	$804.00M	$783.00M	$867.00M	$863.00M	$836.00M	$867.00M	$894.00M	$1.10B
Operating income	$2.40B	$1.78B	$2.52B	$1.35B	$1.14B	$687.00M	$2.20B	$2.71B	$2.69B	$1.40B	$7.32B	$10.45B
Interest expense	$331.00M	$341.00M	$341.00M	$352.00M	$331.00M	$352.00M	$359.00M	$368.00M	$410.00M	$420.00M	$433.00M	$432.00M
Pre-tax income	$2.28B	$1.60B	$2.33B	$1.13B	$896.00M	$383.00M	$1.88B	$2.40B	$2.35B	$1.03B	$6.98B	$10.16B
Income tax	$407.00M	$293.00M	$373.00M	$113.00M	$111.00M	$37.00M	$268.00M	$460.00M	$372.00M	$183.00M	$1.44B	$2.29B
Net income	$1.45B	$937.00M	$1.51B	$622.00M	$371.00M	-$74.00M	$1.22B	$1.37B	$1.53B	$511.00M	$5.14B	$7.45B
EBITDA	$3.22B	$2.61B	$3.36B	$2.19B	$1.97B	$1.48B	$2.99B	$3.55B	$3.52B	$2.21B	$8.16B	$11.29B
EPS (basic)	$4.07	$2.59	$4.34	$1.88	$1.26	$-0.24	$3.96	$4.51	$5.08	$1.73	$17.76	$26.66
EPS (diluted)	$4.06	$2.58	$4.33	$1.87	$1.25	$-0.24	$3.96	$4.51	$5.07	$1.73	$17.73	$26.59
Diluted shares	-11.00M	362.00M	350.00M	332.00M	-7.00M	313.00M	307.00M	304.00M	-2.00M	295.00M	290.00M	280.00M
Gross margin	10.1%	9.5%	10.5%	8.4%	7.8%	6.8%	11.2%	10.4%	11.4%	8.6%	17.2%	21.8%
Operating margin	6.6%	5.5%	6.7%	3.8%	3.4%	2.2%	6.5%	7.8%	8.3%	4.1%	14.1%	18.7%
Net margin	4.0%	2.9%	4.0%	1.8%	1.1%	-0.2%	3.6%	3.9%	4.7%	1.5%	9.9%	13.3%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$5.44B	$3.17B	$4.44B	$4.00B	$3.21B	$3.81B	$1.67B	$2.65B	$3.67B	$2.15B	$7.77B	$12.80B
Short-term investments	$4.78B	$4.40B	$4.06B	$1.14B	$0	—	—	—	$0	—	—	$804.00M
Receivables	$12.19B	$13.17B	$12.31B	$10.18B	$11.14B	$12.11B	$11.13B	$10.49B	$10.32B	$14.63B	$15.74B	$17.43B
Inventory	$9.32B	$9.78B	$9.80B	$9.89B	$9.57B	$10.49B	$10.11B	$9.83B	$10.13B	$10.76B	$9.97B	$10.20B
Total current assets	$32.13B	$31.26B	$31.35B	$25.95B	$24.45B	$27.14B	$23.73B	$24.63B	$24.78B	$28.70B	$34.29B	$42.00B
Goodwill	$8.24B	$8.24B	$8.24B	$8.24B	$8.24B	$8.24B	$8.24B	$9.33B	$9.35B	$9.34B	$9.34B	$9.34B
Total assets	$85.99B	$85.53B	$85.23B	$79.83B	$78.86B	$81.63B	$78.48B	$83.24B	$83.95B	$88.19B	$94.31B	$102.51B
Total current liabilities	$20.15B	$21.79B	$24.00B	$21.07B	$20.83B	$22.73B	$19.25B	$18.73B	$19.68B	$24.41B	$27.42B	$29.05B
Short-term debt	$1.95B	$2.46B	$4.90B	$4.17B	$3.05B	$4.07B	$1.82B	$1.61B	$2.37B	$2.12B	$2.12B	$128.00M
Long-term debt	$25.33B	$24.83B	$24.03B	$24.05B	$24.43B	$26.84B	$26.84B	$31.23B	$30.50B	$30.71B	$30.70B	$32.89B
Total debt	$27.28B	$27.29B	$28.94B	$28.22B	$27.48B	$30.91B	$28.65B	$32.84B	$32.88B	$32.83B	$32.82B	$33.02B
Total liabilities	$54.59B	$55.76B	$57.14B	$54.12B	$54.35B	$58.57B	$55.22B	$59.35B	$59.87B	$64.76B	$68.59B	$72.66B
Shareholders' equity	$24.40B	$22.92B	$21.32B	$18.93B	$17.75B	$16.40B	$16.62B	$17.10B	$17.31B	$16.75B	$19.08B	$23.21B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$1.12B	$1.53B	$3.24B	$1.68B	$2.21B	-$64.00M	$2.64B	$2.61B	$3.07B	$1.12B	$10.33B	$10.73B
Capital expenditures	$532.00M	$585.00M	$487.00M	$651.00M	$810.00M	$663.00M	$695.00M	$947.00M	$1.18B	$913.00M	$1.19B	$1.13B
Free cash flow	$591.00M	$947.00M	$2.75B	$1.03B	$1.40B	-$727.00M	$1.94B	$1.66B	$1.89B	$208.00M	$9.14B	$9.61B
Investing cash flow	-$964.00M	-$824.00M	$17.00M	$2.03B	$307.00M	-$923.00M	-$974.00M	-$3.76B	-$214.00M	-$1.05B	-$1.39B	-$2.13B
Financing cash flow	-$3.17B	-$2.98B	-$1.99B	-$4.16B	-$3.31B	$1.59B	-$3.80B	$2.13B	-$1.84B	-$1.60B	-$3.32B	-$3.56B
Dividends paid	$311.00M	$299.00M	$290.00M	$273.00M	$292.00M	$285.00M	$279.00M	$276.00M	$300.00M	$295.00M	$290.00M	$279.00M
Share buybacks	$2.50B	$2.22B	$2.90B	$2.70B	$1.37B	$1.06B	$780.00M	$650.00M	$1.00B	$750.00M	$2.53B	$3.00B
Depreciation & amortization	$828.00M	$827.00M	$838.00M	$846.00M	$826.00M	$793.00M	$789.00M	$841.00M	$828.00M	$809.00M	$838.00M	$836.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.