Marathon Petroleum (MPC) Financials

$124.87 +1.44 (+1.17%)

As of 04/14/2025 03:59 PM Eastern

Annual Income Statements for Marathon Petroleum

This table shows Marathon Petroleum's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	2,852	1,174	3,432	2,780	2,637	-9,826	9,738	14,516	9,681	3,445
Consolidated Net Income / (Loss)	2,868	1,213	3,804	3,606	3,255	-9,977	11,001	16,050	11,172	5,067
Net Income / (Loss) Continuing Operations	2,868	1,213	3,804	2,933	2,449	-11,182	2,553	15,978	11,172	5,067
Total Pre-Tax Income	4,374	1,822	3,344	3,697	3,233	-13,612	2,817	20,469	13,989	5,957
Total Operating Income	4,692	2,386	4,018	4,690	4,462	-12,247	4,300	21,469	14,514	6,796
Total Gross Profit	8,668	6,147	8,280	9,536	12,359	3,299	10,922	28,281	21,741	14,172
Total Revenue	72,251	63,332	75,369	86,583	111,587	69,032	120,930	179,952	150,307	140,412
Operating Revenue	72,139	63,154	75,049	86,385	111,460	68,914	120,462	179,169	149,338	139,940
Other Revenue	112	178	320	198	127	118	468	783	969	472
Total Cost of Revenue	63,583	57,185	67,089	77,047	99,228	65,733	110,008	151,671	128,566	126,240
Operating Cost of Revenue	63,583	57,185	67,089	77,047	99,228	65,733	110,008	151,671	128,566	126,240
Total Operating Expenses	3,976	3,761	4,262	4,846	7,897	15,546	6,622	6,812	7,227	7,376
Selling, General & Admin Expense	1,576	1,597	1,694	2,276	3,192	2,710	2,537	2,772	3,039	3,221
Depreciation Expense	1,502	2,001	2,114	2,170	3,225	3,375	3,364	3,215	3,307	3,337
Other Operating Expenses / (Income)	761	65	454	406	561	668	721	825	881	818
Total Other Income / (Expense), net	-318	-564	-674	-993	-1,229	-1,365	-1,483	-1,000	-525	-839
Interest Expense	318	564	674	993	1,229	1,365	1,483	1,000	525	839
Income Tax Expense	1,506	609	-460	764	784	-2,430	264	4,491	2,817	890
Net Income / (Loss) Discontinued Operations	-	-	-	673	806	1,205	8,448	72	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	16	39	372	826	618	-151	1,263	1,534	1,491	1,622
Basic Earnings per Share	$5.29	$2.22	$6.76	$5.36	$4.00	($15.13)	$15.34	$28.31	$23.73	$10.11
Weighted Average Basic Shares Outstanding	538M	528M	507M	518M	659M	649M	634M	512M	407M	340M
Diluted Earnings per Share	$5.26	$2.21	$6.70	$5.28	$3.97	($15.13)	$15.24	$28.12	$23.63	$10.08
Weighted Average Diluted Shares Outstanding	542M	530M	512M	526M	664M	649M	638M	516M	409M	341M
Weighted Average Basic & Diluted Shares Outstanding	539.10M	528.80M	530.40M	329.40M	649.50M	651.27M	565.21M	445.55M	361.36M	312.58M
Cash Dividends to Common per Share	$1.14	$1.36	$1.52	$1.84	$2.12	$2.32	$2.32	$2.49	$3.08	$3.39

This table shows Marathon Petroleum's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	4,477	3,321	2,724	2,226	3,280	1,451	937	1,515	622	371
Consolidated Net Income / (Loss)	5,020	3,641	3,084	2,580	3,631	1,877	1,312	1,955	1,015	785
Net Income / (Loss) Continuing Operations	5,020	3,569	3,084	2,580	3,631	1,877	1,312	1,955	1,015	785
Total Pre-Tax Income	6,446	4,553	3,907	3,163	4,635	2,284	1,605	2,328	1,128	896
Total Operating Income	6,686	4,739	4,061	3,305	4,753	2,395	1,784	2,522	1,349	1,141
Total Gross Profit	8,416	6,500	5,783	5,062	6,655	4,241	3,618	4,417	3,229	2,908
Total Revenue	47,237	40,075	35,077	36,824	41,583	36,823	33,211	38,362	35,373	33,466
Operating Revenue	47,018	40,117	35,000	36,555	41,242	36,541	32,930	38,286	35,324	33,400
Other Revenue	219	105	77	269	341	282	281	76	49	66
Total Cost of Revenue	38,821	33,575	29,294	31,762	34,928	32,582	29,593	33,945	32,144	30,558
Operating Cost of Revenue	38,821	33,575	29,294	31,762	34,928	32,582	29,593	33,945	32,144	30,558
Total Operating Expenses	1,730	1,761	1,722	1,757	1,902	1,846	1,834	1,895	1,880	1,767
Selling, General & Admin Expense	712	763	691	704	824	820	779	823	815	804
Depreciation Expense	794	797	800	834	845	828	827	838	846	826
Other Operating Expenses / (Income)	224	219	231	219	233	198	228	234	219	137
Total Other Income / (Expense), net	-240	-186	-154	-142	-118	-111	-179	-194	-221	-245
Interest Expense	240	186	154	142	118	111	179	194	221	245
Income Tax Expense	1,426	984	823	583	1,004	407	293	373	113	111
Net Income / (Loss) Attributable to Noncontrolling Interest	543	320	360	354	351	426	375	440	393	414
Basic Earnings per Share	$9.12	$6.66	$6.13	$5.34	$8.31	$3.95	$2.59	$4.34	$1.88	$1.30
Weighted Average Basic Shares Outstanding	491M	512M	444M	417M	394M	407M	361M	349M	331M	340M
Diluted Earnings per Share	$9.06	$6.62	$6.09	$5.32	$8.28	$3.94	$2.58	$4.33	$1.87	$1.30
Weighted Average Diluted Shares Outstanding	494M	516M	447M	419M	396M	409M	362M	350M	332M	341M
Weighted Average Basic & Diluted Shares Outstanding	468.66M	445.55M	424.28M	399.84M	379.70M	361.36M	352.33M	334.68M	321.39M	312.58M

This table details how cash moves in and out of Marathon Petroleum's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-367	-244	2,123	-1,290	-196	-973	4,738	3,337	-3,185	-2,235
Net Cash From Operating Activities	4,073	4,017	6,612	6,158	9,441	2,419	4,360	16,361	14,117	8,665
Net Cash From Continuing Operating Activities	4,073	4,017	6,612	5,099	7,976	807	8,384	16,319	14,117	8,665
Net Income / (Loss) Continuing Operations	2,868	1,213	3,804	2,933	2,449	-9,977	2,553	15,978	11,172	5,067
Consolidated Net Income / (Loss)	2,868	1,213	3,804	3,606	3,255	-9,977	11,001	16,050	11,172	5,067
Net Income / (Loss) Discontinued Operations	-	-	-	673	806	-	8,448	72	0.00	0.00
Depreciation Expense	1,502	2,001	2,114	2,170	3,225	3,375	3,364	3,215	3,307	3,337
Amortization Expense	16	61	64	70	33	69	79	50	-78	-31
Non-Cash Adjustments To Reconcile Net Income	612	239	122	246	1,100	8,928	-310	-919	-139	269
Changes in Operating Assets and Liabilities, net	-925	503	508	-320	1,169	-1,588	2,698	-2,005	-145	23
Net Cash From Discontinued Operating Activities	-	-	-	1,059	1,465	1,612	-4,024	42	0.00	0.00
Net Cash From Investing Activities	-3,441	-2,967	-3,398	-7,670	-6,261	-3,257	14,797	623	-3,095	1,534
Net Cash From Continuing Investing Activities	-3,441	-2,967	-3,398	-7,303	-5,777	-2,922	-6,517	623	-3,095	1,534
Purchase of Property, Plant & Equipment	-1,998	-2,892	-2,732	-3,179	-4,810	-2,787	-1,464	-2,420	-1,890	-2,533
Acquisitions	-1,218	0.00	-249	-3,822	-129	-485	-210	-818	-726	-1,197
Purchase of Investments	-331	-288	-805	-409	-1,064	0.00	-12,498	-6,023	-8,622	-2,949
Divestitures	21	101	79	22	47	150	153	90	36	35
Sale and/or Maturity of Investments	4.00	0.00	62	16	98	137	6,989	8,970	7,405	7,982
Other Investing Activities, net	81	112	247	69	81	63	513	824	702	196
Net Cash From Financing Activities	-999	-1,294	-1,091	222	-3,376	-135	-14,419	-13,647	-14,207	-12,434
Net Cash From Continuing Financing Activities	-999	-1,294	-1,091	222	-3,376	-135	-14,419	-13,647	-14,207	-12,434
Repayment of Debt	-2,232	-3,576	-1,022	-8,146	-13,164	-16,496	-25,872	-2,363	-1,144	-2,044
Repurchase of Preferred Equity	-	-	-	-	-	-	0.00	0.00	-600	0.00
Repurchase of Common Equity	-965	-197	-2,372	-3,287	-1,950	-33	-5,284	-12,413	-11,572	-9,515
Payment of Dividends	-653	-1,261	-1,467	-1,857	-2,643	-2,754	-2,933	-2,493	-2,542	-2,531
Issuance of Debt	2,993	2,127	3,211	13,476	14,274	19,137	19,564	3,379	1,589	1,631
Issuance of Common Equity	33	793	648	36	107	11	106	243	62	25

This table details how cash moves in and out of Marathon Petroleum's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-1,700	1,248	-666	-616	1,107	-3,010	-2,269	1,266	-439	-793
Net Cash From Operating Activities	2,514	4,382	4,057	3,984	4,953	1,123	1,532	3,242	1,684	2,207
Net Cash From Continuing Operating Activities	2,514	4,296	4,057	3,984	4,953	1,123	1,532	3,242	1,684	2,207
Net Income / (Loss) Continuing Operations	5,020	3,569	3,084	2,580	3,631	1,877	1,312	1,955	1,015	785
Consolidated Net Income / (Loss)	5,020	3,641	3,084	2,580	3,631	1,877	1,312	1,955	1,015	785
Depreciation Expense	794	797	800	834	845	828	827	838	846	826
Amortization Expense	12	5.00	-10	-17	-24	-27	-24	-15	-5.00	13
Non-Cash Adjustments To Reconcile Net Income	-984	91	156	38	-351	18	108	-74	100	135
Changes in Operating Assets and Liabilities, net	-2,328	-166	27	549	852	-1,573	-691	538	-272	448
Net Cash From Investing Activities	501	-498	-816	-880	-435	-964	-824	17	2,034	307
Net Cash From Continuing Investing Activities	501	-498	-816	-880	-435	-964	-824	17	2,034	307
Purchase of Property, Plant & Equipment	-701	-726	-457	-481	-420	-532	-585	-487	-651	-810
Acquisitions	-55	-529	-207	-89	-66	-364	-747	-54	-271	-125
Divestitures	7.00	11	3.00	21	9.00	3.00	1.00	1.00	2.00	31
Sale and/or Maturity of Investments	2,161	2,923	1,793	2,021	2,231	1,360	2,078	1,774	2,968	1,162
Other Investing Activities, net	243	111	164	259	225	54	90	51	6.00	49
Net Cash From Financing Activities	-4,715	-2,636	-3,907	-3,720	-3,411	-3,169	-2,977	-1,993	-4,157	-3,307
Net Cash From Continuing Financing Activities	-4,715	-2,636	-3,907	-3,720	-3,411	-3,169	-2,977	-1,993	-4,157	-3,307
Repayment of Debt	-1,044	-25	-1,067	-40	-20	-17	-59	-35	-775	-1,175
Repurchase of Common Equity	-4,088	-2,013	-3,180	-3,068	-2,819	-2,505	-2,293	-2,971	-2,777	-1,474
Payment of Dividends	-594	-657	-666	-622	-605	-649	-636	-625	-606	-664
Issuance of Common Equity	17	59	17	10	33	2.00	11	8.00	-	6.00

This table presents Marathon Petroleum's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	43,115	44,413	49,047	92,940	98,556	85,158	85,373	89,904	85,987	78,858
Total Current Assets	9,471	10,401	13,401	18,023	30,458	28,287	30,496	35,242	32,131	24,447
Cash & Equivalents	1,127	887	3,011	1,687	1,393	415	5,291	8,625	5,443	3,210
Short-Term Investments	-	-	-	-	-	0.00	5,548	3,145	4,781	0.00
Accounts Receivable	2,927	3,617	4,695	5,853	7,233	5,760	11,034	13,477	12,187	11,145
Inventories, net	5,225	5,656	5,550	9,837	9,804	7,999	8,055	8,827	9,317	9,568
Other Current Assets	192	241	145	646	893	2,724	568	1,168	403	524
Plant, Property, & Equipment, net	25,164	25,765	26,443	45,058	40,870	0.00	0.00	35,657	35,112	35,028
Total Noncurrent Assets	8,480	8,247	9,203	29,859	27,228	56,871	54,877	19,005	18,744	19,383
Long-Term Investments	3,622	3,827	4,787	5,898	6,568	5,422	5,409	6,466	6,260	6,857
Goodwill	4,019	3,587	3,586	20,184	15,650	8,256	8,256	8,244	8,244	8,244
Other Noncurrent Operating Assets	839	833	830	3,777	5,010	43,193	41,212	4,295	4,240	4,282
Total Liabilities & Shareholders' Equity	43,115	44,413	49,047	92,940	98,556	85,158	85,373	89,904	85,987	78,858
Total Liabilities	23,440	23,210	27,219	47,887	55,449	54,938	51,792	54,817	54,588	54,352
Total Current Liabilities	6,345	7,146	10,478	13,216	16,948	15,663	17,898	20,020	20,150	20,827
Short-Term Debt	29	28	624	544	704	2,854	571	1,066	1,954	3,049
Accounts Payable	4,743	5,593	8,297	9,366	11,222	7,803	13,700	15,312	13,761	13,906
Current Deferred & Payable Income Tax Liabilities	184	153	670	1,446	1,015	1,105	1,231	1,140	1,221	1,204
Current Employee Benefit Liabilities	503	530	591	1,152	987	732	911	967	1,115	1,096
Other Current Liabilities	426	378	296	708	1,272	1,319	1,485	1,535	2,099	1,572
Total Noncurrent Liabilities	17,095	16,064	16,741	34,671	38,501	39,275	33,894	34,797	34,438	33,525
Long-Term Debt	11,896	10,544	12,322	26,980	28,020	28,730	24,968	25,634	25,329	24,432
Noncurrent Deferred Revenue	735	604	666	1,318	1,172	1,207	1,346	1,304	1,409	1,305
Noncurrent Deferred & Payable Income Tax Liabilities	3,285	3,861	2,654	4,864	6,392	6,203	5,638	5,904	5,834	5,771
Noncurrent Employee Benefit Liabilities	1,179	1,055	1,099	1,509	1,617	2,121	1,015	1,114	1,102	1,157
Other Noncurrent Operating Liabilities	0.00	0.00	0.00	0.00	1,300	1,014	927	841	764	860
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	0.00	1,000	1,000	1,004	968	968	965	968	895	203
Total Equity & Noncontrolling Interests	19,675	20,203	20,828	44,049	42,139	29,252	32,616	34,119	30,504	24,303
Total Preferred & Common Equity	13,237	13,557	14,033	35,175	33,694	22,199	26,206	27,715	24,404	17,745
Preferred Stock	-	-	-	0.00	0.00	-	-	0.00	0.00	0.00
Total Common Equity	13,237	13,557	14,033	35,175	33,694	22,199	26,206	27,715	24,404	17,745
Common Stock	11,078	11,067	11,269	33,739	33,167	33,218	33,272	33,412	33,475	33,634
Retained Earnings	9,752	10,206	12,864	14,755	15,990	4,650	12,905	26,142	34,562	36,848
Treasury Stock	-7,275	-7,482	-9,869	-13,175	-15,143	-15,157	-19,904	-31,841	-43,502	-52,623
Accumulated Other Comprehensive Income / (Loss)	-318	-234	-231	-144	-320	-512	-67	2.00	-131	-114
Noncontrolling Interest	6,438	6,646	6,795	8,874	8,445	7,053	6,410	6,404	6,100	6,558

This table presents Marathon Petroleum's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	89,694	89,904	87,037	86,442	89,969	85,987	85,528	85,229	79,833	78,858
Total Current Assets	35,285	35,242	32,486	32,213	36,275	32,131	31,260	31,347	25,949	24,447
Cash & Equivalents	7,376	8,625	7,960	7,345	8,452	5,443	3,175	4,441	4,002	3,210
Short-Term Investments	3,759	3,145	3,492	4,109	4,604	4,781	4,399	4,058	1,141	0.00
Accounts Receivable	13,458	13,477	10,143	10,274	12,469	12,187	13,171	12,307	10,180	11,145
Inventories, net	9,834	8,827	10,268	9,536	10,143	9,317	9,781	9,800	9,886	9,568
Other Current Assets	858	1,168	623	949	607	403	734	741	740	524
Plant, Property, & Equipment, net	35,384	35,657	35,391	35,059	34,690	35,112	34,963	34,686	34,542	35,028
Total Noncurrent Assets	19,025	19,005	19,160	19,170	19,004	18,744	19,305	19,196	19,342	19,383
Long-Term Investments	6,493	6,466	6,626	6,665	6,521	6,260	6,831	6,821	6,976	6,857
Goodwill	8,244	8,244	8,244	8,244	8,244	8,244	8,244	8,244	8,244	8,244
Other Noncurrent Operating Assets	4,288	4,295	4,290	4,261	4,239	4,240	4,230	4,131	4,122	4,282
Total Liabilities & Shareholders' Equity	89,694	89,904	87,037	86,442	89,969	85,987	85,528	85,229	79,833	78,858
Total Liabilities	55,919	54,817	53,374	53,874	57,171	54,588	55,757	57,141	54,121	54,352
Total Current Liabilities	21,314	20,020	17,057	17,466	21,735	20,150	21,787	24,000	21,068	20,827
Short-Term Debt	1,064	1,066	75	72	819	1,954	2,457	4,903	4,167	3,049
Accounts Payable	16,682	15,312	13,031	13,052	15,839	13,761	15,471	14,865	12,763	13,906
Current Deferred & Payable Income Tax Liabilities	1,042	1,140	1,617	1,160	1,319	1,221	1,243	1,680	1,302	1,204
Current Employee Benefit Liabilities	773	967	636	712	979	1,115	1,180	766	967	1,096
Other Current Liabilities	1,753	1,535	1,698	2,470	2,779	2,099	1,436	1,786	1,869	1,572
Total Noncurrent Liabilities	34,605	34,797	36,317	36,408	35,436	34,438	33,970	33,141	33,053	33,525
Long-Term Debt	25,638	25,634	27,205	27,211	26,463	25,329	24,832	24,034	24,053	24,432
Noncurrent Deferred Revenue	1,213	1,304	1,214	1,244	1,341	1,409	1,355	1,358	1,352	1,305
Noncurrent Deferred & Payable Income Tax Liabilities	5,610	5,904	5,893	5,913	5,813	5,834	5,831	5,810	5,766	5,771
Noncurrent Employee Benefit Liabilities	1,305	1,114	1,147	1,181	971	1,102	1,182	1,228	1,191	1,157
Other Noncurrent Operating Liabilities	839	841	858	859	848	764	770	711	691	860
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	967	968	968	968	970	895	561	202	203	203
Total Equity & Noncontrolling Interests	32,808	34,119	32,695	31,600	31,828	30,504	29,210	27,886	25,509	24,303
Total Preferred & Common Equity	26,304	27,715	26,858	25,714	25,862	24,404	22,922	21,324	18,933	17,745
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	26,304	27,715	26,858	25,714	25,862	24,404	22,922	21,324	18,933	17,745
Common Stock	33,373	33,412	33,418	33,421	33,436	33,475	33,540	33,645	33,640	33,634
Retained Earnings	23,175	26,142	28,528	30,442	33,424	34,562	35,199	36,423	36,771	36,848
Treasury Stock	-30,065	-31,841	-35,079	-38,119	-40,949	-43,502	-45,674	-48,592	-51,320	-52,623
Accumulated Other Comprehensive Income / (Loss)	-179	2.00	-9.00	-30	-49	-131	-143	-152	-158	-114
Noncontrolling Interest	6,504	6,404	5,837	5,886	5,966	6,100	6,288	6,562	6,576	6,558

This table displays calculated financial ratios and metrics derived from Marathon Petroleum's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-26.34%	-12.34%	19.01%	14.88%	28.88%	-38.14%	75.18%	48.81%	-16.47%	-6.58%
EBITDA Growth	14.91%	-28.37%	39.30%	11.85%	11.40%	-214.03%	187.96%	219.44%	-28.26%	-43.06%
EBIT Growth	15.82%	-49.15%	68.40%	16.72%	-4.86%	-374.47%	135.11%	399.28%	-32.40%	-53.18%
NOPAT Growth	13.99%	-48.37%	187.74%	-18.60%	-9.16%	-353.64%	145.46%	330.04%	-30.83%	-50.13%
Net Income Growth	12.25%	-57.71%	213.60%	-5.21%	-9.73%	-406.51%	210.26%	45.90%	-30.39%	-54.65%
EPS Growth	19.82%	-57.98%	203.17%	-21.19%	-24.81%	-481.11%	200.73%	84.51%	-15.97%	-57.34%
Operating Cash Flow Growth	30.96%	-1.37%	64.60%	-6.87%	53.31%	-74.38%	80.24%	275.25%	-13.72%	-38.62%
Free Cash Flow Firm Growth	-747.11%	116.93%	237.74%	-836.63%	140.50%	-103.73%	1,539.08%	115.75%	-19.50%	-53.19%
Invested Capital Growth	71.76%	0.78%	-0.31%	140.93%	-16.17%	-14.78%	-7.66%	1.58%	-3.11%	-0.66%
Revenue Q/Q Growth	-8.44%	2.59%	5.56%	0.90%	-0.35%	-4.75%	16.83%	2.55%	-2.12%	-2.34%
EBITDA Q/Q Growth	-12.05%	7.78%	11.66%	-0.24%	-9.11%	3.55%	21.15%	13.44%	-11.67%	-10.74%
EBIT Q/Q Growth	-16.41%	10.31%	17.80%	-0.68%	-19.27%	2.54%	47.66%	16.00%	-13.90%	-15.58%
NOPAT Q/Q Growth	-16.71%	10.29%	90.79%	-32.34%	-21.01%	2.54%	20.27%	15.67%	-13.10%	-14.36%
Net Income Q/Q Growth	-18.17%	11.08%	93.29%	-20.50%	-22.28%	3.03%	5.07%	18.77%	-13.64%	-17.73%
EPS Q/Q Growth	-18.70%	2.79%	105.52%	-33.25%	-14.07%	-1.27%	7.40%	22.15%	-10.19%	-20.75%
Operating Cash Flow Q/Q Growth	11.86%	5.10%	35.44%	-0.29%	-3.26%	-30.89%	116.48%	4.52%	-18.76%	14.30%
Free Cash Flow Firm Q/Q Growth	-505.48%	114.79%	58.97%	-1,040.86%	144.30%	-106.12%	35.06%	-1.45%	-17.47%	11.37%
Invested Capital Q/Q Growth	62.73%	-0.73%	0.93%	127.40%	-15.15%	-1.12%	-4.04%	1.64%	4.18%	0.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.00%	9.71%	10.99%	11.01%	11.08%	4.78%	9.03%	15.72%	14.46%	10.09%
EBITDA Margin	8.60%	7.02%	8.22%	8.00%	6.92%	-12.75%	6.40%	13.74%	11.80%	7.19%
Operating Margin	6.49%	3.77%	5.33%	5.42%	4.00%	-17.74%	3.56%	11.93%	9.66%	4.84%
EBIT Margin	6.49%	3.77%	5.33%	5.42%	4.00%	-17.74%	3.56%	11.93%	9.66%	4.84%
Profit (Net Income) Margin	3.97%	1.92%	5.05%	4.16%	2.92%	-14.45%	9.10%	8.92%	7.43%	3.61%
Tax Burden Percent	65.57%	66.58%	113.76%	97.54%	100.68%	73.30%	390.52%	78.41%	79.86%	85.06%
Interest Burden Percent	93.22%	76.36%	83.23%	78.83%	72.46%	111.15%	65.51%	95.34%	96.38%	87.65%
Effective Tax Rate	34.43%	33.42%	-13.76%	20.67%	24.25%	0.00%	9.37%	21.94%	20.14%	14.94%
Return on Invested Capital (ROIC)	14.48%	5.89%	16.92%	8.09%	5.66%	-16.99%	8.73%	38.78%	27.04%	13.74%
ROIC Less NNEP Spread (ROIC-NNEP)	10.83%	0.13%	2.98%	7.18%	4.86%	-27.17%	64.45%	30.80%	22.68%	8.69%
Return on Net Nonoperating Assets (RNNOA)	3.98%	0.04%	0.76%	2.69%	1.73%	-10.22%	25.76%	7.96%	6.57%	4.38%
Return on Equity (ROE)	18.46%	5.93%	17.68%	10.78%	7.38%	-27.21%	34.49%	46.75%	33.61%	18.13%
Cash Return on Invested Capital (CROIC)	-38.33%	5.11%	17.23%	-74.58%	23.25%	-1.03%	16.69%	37.21%	30.19%	14.41%
Operating Return on Assets (OROA)	12.76%	5.45%	8.60%	6.61%	4.66%	-13.33%	5.04%	24.50%	16.50%	8.25%
Return on Assets (ROA)	7.80%	2.77%	8.14%	5.08%	3.40%	-10.86%	12.90%	18.31%	12.70%	6.15%
Return on Common Equity (ROCE)	14.26%	3.89%	11.34%	7.93%	5.77%	-20.74%	26.16%	36.71%	26.34%	13.67%
Return on Equity Simple (ROE_SIMPLE)	21.67%	8.95%	27.11%	10.25%	9.66%	-44.94%	41.98%	57.91%	45.78%	28.55%
Net Operating Profit after Tax (NOPAT)	3,077	1,588	4,571	3,721	3,380	-8,573	3,897	16,759	11,591	5,781
NOPAT Margin	4.26%	2.51%	6.06%	4.30%	3.03%	-12.42%	3.22%	9.31%	7.71%	4.12%
Net Nonoperating Expense Percent (NNEP)	3.65%	5.76%	13.93%	0.92%	0.80%	10.18%	-55.72%	7.98%	4.35%	5.06%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	27.55%	20.06%	11.16%
Cost of Revenue to Revenue	88.00%	90.29%	89.01%	88.99%	88.92%	95.22%	90.97%	84.28%	85.54%	89.91%
SG&A Expenses to Revenue	2.18%	2.52%	2.25%	2.63%	2.86%	3.93%	2.10%	1.54%	2.02%	2.29%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	5.50%	5.94%	5.65%	5.60%	7.08%	22.52%	5.48%	3.79%	4.81%	5.25%
Earnings before Interest and Taxes (EBIT)	4,692	2,386	4,018	4,690	4,462	-12,247	4,300	21,469	14,514	6,796
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6,210	4,448	6,196	6,930	7,720	-8,803	7,743	24,734	17,743	10,102
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.57	1.52	1.84	0.95	0.99	1.09	1.41	1.87	2.25	2.51
Price to Tangible Book Value (P/TBV)	2.25	2.07	2.47	2.23	1.85	1.74	2.06	2.67	3.40	4.69
Price to Revenue (P/Rev)	0.29	0.33	0.34	0.39	0.30	0.35	0.31	0.29	0.37	0.32
Price to Earnings (P/E)	7.27	17.61	7.51	12.04	12.65	0.00	3.80	3.58	5.67	12.94
Dividend Yield	2.93%	3.47%	2.88%	3.80%	4.13%	6.22%	3.86%	2.25%	2.13%	2.44%
Earnings Yield	13.76%	5.68%	13.31%	8.31%	7.90%	0.00%	26.34%	27.95%	17.64%	7.73%
Enterprise Value to Invested Capital (EV/IC)	1.28	1.26	1.44	0.97	1.17	1.25	1.25	1.56	1.72	1.64
Enterprise Value to Revenue (EV/Rev)	0.48	0.54	0.51	0.73	0.57	0.84	0.44	0.38	0.48	0.49
Enterprise Value to EBITDA (EV/EBITDA)	5.53	7.68	6.25	9.13	8.23	0.00	6.93	2.74	4.10	6.81
Enterprise Value to EBIT (EV/EBIT)	7.32	14.32	9.64	13.49	14.24	0.00	12.47	3.16	5.01	10.12
Enterprise Value to NOPAT (EV/NOPAT)	11.16	21.52	8.47	17.01	18.80	0.00	13.76	4.04	6.27	11.89
Enterprise Value to Operating Cash Flow (EV/OCF)	8.43	8.51	5.86	10.28	6.73	23.99	12.30	4.14	5.15	7.93
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	24.79	8.32	0.00	4.57	0.00	7.20	4.21	5.62	11.35
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.50	0.59	0.61	0.67	1.05	0.76	0.76	0.87	1.12
Long-Term Debt to Equity	0.60	0.50	0.56	0.60	0.65	0.95	0.74	0.73	0.81	1.00
Financial Leverage	0.37	0.32	0.26	0.38	0.36	0.38	0.40	0.26	0.29	0.50
Leverage Ratio	2.37	2.14	2.17	2.12	2.17	2.51	2.67	2.55	2.65	2.95
Compound Leverage Factor	2.21	1.64	1.81	1.67	1.57	2.78	1.75	2.43	2.55	2.58
Debt to Total Capital	37.74%	33.27%	37.23%	37.92%	39.99%	51.10%	43.20%	43.21%	46.49%	52.86%
Short-Term Debt to Total Capital	0.09%	0.09%	1.79%	0.75%	0.98%	4.62%	0.97%	1.73%	3.33%	5.86%
Long-Term Debt to Total Capital	37.65%	33.18%	35.43%	37.17%	39.01%	46.49%	42.23%	41.49%	43.16%	47.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	20.37%	24.06%	22.42%	13.61%	13.10%	12.98%	12.47%	11.93%	11.92%	13.01%
Common Equity to Total Capital	41.89%	42.67%	40.35%	48.47%	46.91%	35.92%	44.33%	44.86%	41.59%	34.13%
Debt to EBITDA	1.92	2.38	2.09	3.97	3.72	-3.59	3.30	1.08	1.54	2.72
Net Debt to EBITDA	1.16	1.32	0.83	2.88	2.69	-2.92	1.20	0.34	0.61	1.72
Long-Term Debt to EBITDA	1.92	2.37	1.99	3.89	3.63	-3.26	3.22	1.04	1.43	2.42
Debt to NOPAT	3.88	6.66	2.83	7.40	8.50	-3.68	6.55	1.59	2.35	4.75
Net Debt to NOPAT	2.33	3.69	1.13	5.36	6.14	-3.00	2.38	0.51	0.93	3.01
Long-Term Debt to NOPAT	3.87	6.64	2.70	7.25	8.29	-3.35	6.41	1.53	2.19	4.23
Altman Z-Score	2.97	2.55	2.81	1.80	2.03	0.86	2.40	3.97	3.64	3.27
Noncontrolling Interest Sharing Ratio	22.78%	34.45%	35.88%	26.42%	21.88%	23.78%	24.13%	21.48%	21.61%	24.61%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.49	1.46	1.28	1.36	1.80	1.81	1.70	1.76	1.59	1.17
Quick Ratio	0.64	0.63	0.74	0.57	0.51	0.39	1.22	1.26	1.11	0.69
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-8,141	1,378	4,656	-34,295	13,889	-518	7,453	16,080	12,944	6,059
Operating Cash Flow to CapEx	203.85%	138.90%	242.02%	193.71%	196.28%	86.80%	297.81%	676.07%	746.93%	342.08%
Free Cash Flow to Firm to Interest Expense	-25.60	2.44	6.91	-34.54	11.30	-0.38	5.03	16.08	24.66	7.22
Operating Cash Flow to Interest Expense	12.81	7.12	9.81	6.20	7.68	1.77	2.94	16.36	26.89	10.33
Operating Cash Flow Less CapEx to Interest Expense	6.53	1.99	5.76	3.00	3.77	-0.27	1.95	13.94	23.29	7.31
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.96	1.45	1.61	1.22	1.17	0.75	1.42	2.05	1.71	1.70
Accounts Receivable Turnover	20.69	19.36	18.14	16.42	17.05	10.63	14.40	14.68	11.71	12.04
Inventory Turnover	11.70	10.51	11.97	10.01	10.10	7.38	13.70	17.97	14.17	13.37
Fixed Asset Turnover	3.49	2.49	2.89	2.42	2.60	0.00	0.00	0.00	4.25	4.00
Accounts Payable Turnover	11.15	11.07	9.66	8.72	9.64	6.91	10.23	10.46	8.84	9.13
Days Sales Outstanding (DSO)	17.64	18.86	20.13	22.23	21.40	34.35	25.34	24.86	31.16	30.33
Days Inventory Outstanding (DIO)	31.19	34.73	30.48	36.45	36.12	49.43	26.63	20.31	25.76	27.30
Days Payable Outstanding (DPO)	32.73	32.99	37.78	41.84	37.87	52.82	35.67	34.91	41.27	40.00
Cash Conversion Cycle (CCC)	16.10	20.60	12.83	16.84	19.66	30.96	16.30	10.26	15.65	17.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	26,851	27,061	26,976	64,992	54,483	46,428	42,872	43,551	42,198	41,920
Invested Capital Turnover	3.40	2.35	2.79	1.88	1.87	1.37	2.71	4.16	3.51	3.34
Increase / (Decrease) in Invested Capital	11,218	210	-85	38,016	-10,509	-8,055	-3,556	679	-1,353	-278
Enterprise Value (EV)	34,339	34,178	38,727	63,285	63,535	58,041	53,640	67,769	72,685	68,752
Market Capitalization	20,725	20,674	25,784	33,468	33,359	24,273	36,974	51,933	54,891	44,577
Book Value per Share	$24.84	$25.69	$28.73	$50.92	$51.89	$34.12	$42.57	$59.14	$64.27	$55.21
Tangible Book Value per Share	$17.30	$18.89	$21.39	$21.70	$27.79	$21.43	$29.16	$41.55	$42.56	$29.56
Total Capital	31,600	31,775	34,774	72,577	71,831	61,804	59,120	61,787	58,682	51,987
Total Debt	11,925	10,572	12,946	27,524	28,724	31,584	25,539	26,700	27,283	27,481
Total Long-Term Debt	11,896	10,544	12,322	26,980	28,020	28,730	24,968	25,634	25,329	24,432
Net Debt	7,176	5,858	5,148	19,939	20,763	25,747	9,291	8,464	10,799	17,414
Capital Expenditures (CapEx)	1,998	2,892	2,732	3,179	4,810	2,787	1,464	2,420	1,890	2,533
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,028	2,396	536	3,664	12,821	15,063	2,330	4,518	3,711	3,459
Debt-free Net Working Capital (DFNWC)	3,155	3,283	3,547	5,351	14,214	15,478	13,169	16,288	13,935	6,669
Net Working Capital (NWC)	3,126	3,255	2,923	4,807	13,510	12,624	12,598	15,222	11,981	3,620
Net Nonoperating Expense (NNE)	209	375	767	115	125	1,404	-7,104	709	419	714
Net Nonoperating Obligations (NNO)	7,176	5,858	5,148	19,939	11,376	16,208	9,291	8,464	10,799	17,414
Total Depreciation and Amortization (D&A)	1,518	2,062	2,178	2,240	3,258	3,444	3,443	3,265	3,229	3,306
Debt-free, Cash-free Net Working Capital to Revenue	2.81%	3.78%	0.71%	4.23%	11.49%	21.82%	1.93%	2.51%	2.47%	2.46%
Debt-free Net Working Capital to Revenue	4.37%	5.18%	4.71%	6.18%	12.74%	22.42%	10.89%	9.05%	9.27%	4.75%
Net Working Capital to Revenue	4.33%	5.14%	3.88%	5.55%	12.11%	18.29%	10.42%	8.46%	7.97%	2.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.29	$2.22	$6.76	$5.36	$4.00	($15.13)	$15.34	$28.31	$23.73	$10.11
Adjusted Weighted Average Basic Shares Outstanding	538M	528M	507M	518M	659M	649M	634M	512M	407M	340M
Adjusted Diluted Earnings per Share	$5.26	$2.21	$6.70	$5.28	$3.97	($15.13)	$15.24	$28.12	$23.63	$10.08
Adjusted Weighted Average Diluted Shares Outstanding	542M	530M	512M	526M	664M	649M	638M	516M	409M	341M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	529.23M	527.78M	476.06M	673.62M	649.50M	651.27M	565.21M	445.55M	361.36M	312.58M
Normalized Net Operating Profit after Tax (NOPAT)	3,166	1,654	2,813	3,716	4,076	-2,418	3,897	16,759	11,591	5,781
Normalized NOPAT Margin	4.38%	2.61%	3.73%	4.29%	3.65%	-3.50%	3.22%	9.31%	7.71%	4.12%
Pre Tax Income Margin	6.05%	2.88%	4.44%	4.27%	2.90%	-19.72%	2.33%	11.37%	9.31%	4.24%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	14.75	4.23	5.96	4.72	3.63	-8.97	2.90	21.47	27.65	8.10
NOPAT to Interest Expense	9.67	2.82	6.78	3.75	2.75	-6.28	2.63	16.76	22.08	6.89
EBIT Less CapEx to Interest Expense	8.47	-0.90	1.91	1.52	-0.28	-11.01	1.91	19.05	24.05	5.08
NOPAT Less CapEx to Interest Expense	3.39	-2.31	2.73	0.55	-1.16	-8.32	1.64	14.34	18.48	3.87
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	22.77%	103.96%	38.56%	51.50%	81.20%	-27.60%	26.66%	15.53%	22.75%	49.95%
Augmented Payout Ratio	56.42%	120.20%	100.92%	142.65%	141.11%	-27.93%	74.69%	92.87%	126.33%	237.73%

This table displays calculated financial ratios and metrics derived from Marathon Petroleum's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	44.84%	12.54%	-8.66%	-32.11%	-11.97%	-8.11%	-5.32%	4.18%	-14.93%	-9.12%
EBITDA Growth	241.48%	112.22%	90.98%	-55.00%	-25.60%	-42.32%	-46.67%	-18.85%	-60.71%	-38.05%
EBIT Growth	398.96%	166.54%	136.66%	-60.31%	-28.91%	-49.46%	-56.07%	-23.69%	-71.62%	-52.36%
NOPAT Growth	281.78%	154.88%	131.75%	-58.26%	-28.49%	-47.02%	-54.51%	-21.44%	-67.40%	-49.21%
Net Income Growth	387.38%	229.50%	163.14%	-58.50%	-27.67%	-48.45%	-57.46%	-24.22%	-72.05%	-58.18%
EPS Growth	731.19%	335.53%	308.72%	-51.42%	-8.61%	-40.48%	-57.64%	-18.61%	-77.42%	-67.01%
Operating Cash Flow Growth	318.99%	19.27%	61.44%	-42.69%	97.02%	-74.37%	-62.24%	-18.62%	-66.00%	96.53%
Free Cash Flow Firm Growth	93.17%	-39.45%	-61.50%	-64.04%	-13.72%	9.40%	-25.44%	-16.86%	-101.58%	-61.53%
Invested Capital Growth	-4.09%	1.58%	2.31%	0.28%	-5.48%	-3.11%	-0.49%	-0.06%	3.23%	-0.66%
Revenue Q/Q Growth	-12.91%	-15.16%	-12.47%	4.98%	12.92%	-11.45%	-9.81%	15.51%	-7.79%	-5.39%
EBITDA Q/Q Growth	-18.22%	-26.04%	-12.45%	-15.03%	35.23%	-42.66%	-19.06%	29.30%	-34.53%	-9.59%
EBIT Q/Q Growth	-19.72%	-29.12%	-14.31%	-18.62%	43.81%	-49.61%	-25.51%	41.37%	-46.51%	-15.42%
NOPAT Q/Q Growth	-19.39%	-28.66%	-13.71%	-15.90%	38.12%	-47.14%	-25.91%	45.23%	-42.69%	-17.65%
Net Income Q/Q Growth	-19.25%	-27.47%	-15.30%	-16.34%	40.74%	-48.31%	-30.10%	49.01%	-48.08%	-22.66%
EPS Q/Q Growth	-17.26%	-26.93%	-8.01%	-12.64%	55.64%	-52.42%	-34.52%	67.83%	-56.81%	-30.48%
Operating Cash Flow Q/Q Growth	-63.84%	74.30%	-7.42%	-1.80%	24.32%	-77.33%	36.42%	111.62%	-48.06%	31.06%
Free Cash Flow Firm Q/Q Growth	-1.95%	-56.85%	-26.29%	15.30%	135.27%	-45.28%	-49.77%	28.57%	-104.48%	1,428.96%
Invested Capital Q/Q Growth	2.96%	1.64%	-1.58%	-2.64%	-2.95%	4.18%	1.08%	-2.23%	0.26%	0.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.82%	16.22%	16.49%	13.75%	16.00%	11.52%	10.89%	11.51%	9.13%	8.69%
EBITDA Margin	15.86%	13.83%	13.83%	11.19%	13.40%	8.68%	7.79%	8.72%	6.19%	5.92%
Operating Margin	14.15%	11.83%	11.58%	8.98%	11.43%	6.50%	5.37%	6.57%	3.81%	3.41%
EBIT Margin	14.15%	11.83%	11.58%	8.98%	11.43%	6.50%	5.37%	6.57%	3.81%	3.41%
Profit (Net Income) Margin	10.63%	9.09%	8.79%	7.01%	8.73%	5.10%	3.95%	5.10%	2.87%	2.35%
Tax Burden Percent	77.88%	79.97%	78.94%	81.57%	78.34%	82.18%	81.74%	83.98%	89.98%	87.61%
Interest Burden Percent	96.41%	96.08%	96.21%	95.70%	97.52%	95.37%	89.97%	92.31%	83.62%	78.53%
Effective Tax Rate	22.12%	21.61%	21.06%	18.43%	21.66%	17.82%	18.26%	16.02%	10.02%	12.39%
Return on Invested Capital (ROIC)	44.20%	38.60%	38.09%	27.97%	32.99%	18.74%	15.24%	19.85%	11.99%	9.97%
ROIC Less NNEP Spread (ROIC-NNEP)	42.10%	37.77%	36.86%	26.62%	31.89%	17.79%	13.92%	18.42%	10.32%	8.45%
Return on Net Nonoperating Assets (RNNOA)	10.74%	9.77%	11.23%	6.88%	8.04%	5.15%	4.85%	6.92%	4.20%	4.26%
Return on Equity (ROE)	54.94%	48.37%	49.32%	34.84%	41.03%	23.89%	20.09%	26.76%	16.18%	14.24%
Cash Return on Invested Capital (CROIC)	37.28%	37.21%	41.57%	35.29%	37.64%	30.19%	23.51%	22.27%	13.22%	14.41%
Operating Return on Assets (OROA)	27.75%	24.28%	22.98%	15.60%	19.54%	11.12%	9.24%	11.49%	6.46%	5.81%
Return on Assets (ROA)	20.84%	18.66%	17.45%	12.18%	14.93%	8.71%	6.80%	8.90%	4.86%	4.00%
Return on Common Equity (ROCE)	43.00%	37.98%	38.59%	27.37%	32.15%	18.73%	15.77%	20.76%	12.39%	10.73%
Return on Equity Simple (ROE_SIMPLE)	51.38%	0.00%	66.88%	55.71%	50.02%	0.00%	41.01%	41.15%	32.53%	0.00%
Net Operating Profit after Tax (NOPAT)	5,207	3,715	3,206	2,696	3,723	1,968	1,458	2,118	1,214	1,000
NOPAT Margin	11.02%	9.27%	9.14%	7.32%	8.95%	5.35%	4.39%	5.52%	3.43%	2.99%
Net Nonoperating Expense Percent (NNEP)	2.10%	0.83%	1.23%	1.35%	1.10%	0.95%	1.33%	1.43%	1.67%	1.52%
Return On Investment Capital (ROIC_SIMPLE)	-	6.11%	-	-	-	3.41%	-	-	-	1.93%
Cost of Revenue to Revenue	82.18%	83.78%	83.51%	86.25%	84.00%	88.48%	89.11%	88.49%	90.87%	91.31%
SG&A Expenses to Revenue	1.51%	1.90%	1.97%	1.91%	1.98%	2.23%	2.35%	2.15%	2.30%	2.40%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	3.66%	4.39%	4.91%	4.77%	4.57%	5.01%	5.52%	4.94%	5.31%	5.28%
Earnings before Interest and Taxes (EBIT)	6,686	4,739	4,061	3,305	4,753	2,395	1,784	2,522	1,349	1,141
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	7,492	5,541	4,851	4,122	5,574	3,196	2,587	3,345	2,190	1,980
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.80	1.87	2.17	1.88	2.29	2.25	3.31	2.85	2.88	2.51
Price to Tangible Book Value (P/TBV)	2.62	2.67	3.13	2.76	3.37	3.40	5.16	4.65	5.10	4.69
Price to Revenue (P/Rev)	0.27	0.29	0.33	0.30	0.39	0.37	0.51	0.41	0.38	0.32
Price to Earnings (P/E)	3.96	3.58	3.55	3.79	5.14	5.67	9.60	8.47	12.05	12.94
Dividend Yield	2.44%	2.25%	2.04%	2.49%	2.02%	2.13%	1.58%	1.87%	2.03%	2.44%
Earnings Yield	25.25%	27.95%	28.17%	26.42%	19.47%	17.64%	10.42%	11.81%	8.30%	7.73%
Enterprise Value to Invested Capital (EV/IC)	1.49	1.56	1.73	1.54	1.83	1.72	2.24	1.95	1.85	1.64
Enterprise Value to Revenue (EV/Rev)	0.36	0.38	0.42	0.40	0.48	0.48	0.64	0.54	0.54	0.49
Enterprise Value to EBITDA (EV/EBITDA)	2.93	2.74	2.74	2.92	3.68	4.10	6.17	5.52	6.84	6.81
Enterprise Value to EBIT (EV/EBIT)	3.46	3.16	3.12	3.42	4.39	5.01	7.81	7.09	9.62	10.12
Enterprise Value to NOPAT (EV/NOPAT)	4.41	4.04	3.99	4.34	5.54	6.27	9.70	8.77	11.47	11.89
Enterprise Value to Operating Cash Flow (EV/OCF)	4.09	4.14	4.14	4.30	4.26	5.15	8.24	7.48	10.21	7.93
Enterprise Value to Free Cash Flow (EV/FCFF)	3.92	4.21	4.21	4.37	4.72	5.62	9.50	8.74	14.23	11.35
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.79	0.76	0.81	0.84	0.83	0.87	0.92	1.03	1.10	1.12
Long-Term Debt to Equity	0.76	0.73	0.81	0.84	0.81	0.81	0.83	0.86	0.94	1.00
Financial Leverage	0.26	0.26	0.30	0.26	0.25	0.29	0.35	0.38	0.41	0.50
Leverage Ratio	2.57	2.55	2.74	2.77	2.70	2.65	2.72	2.83	2.90	2.95
Compound Leverage Factor	2.47	2.45	2.64	2.65	2.63	2.52	2.45	2.61	2.43	2.32
Debt to Total Capital	44.15%	43.21%	44.76%	45.58%	45.41%	46.49%	47.83%	50.74%	52.33%	52.86%
Short-Term Debt to Total Capital	1.76%	1.73%	0.12%	0.12%	1.36%	3.33%	4.31%	8.60%	7.73%	5.86%
Long-Term Debt to Total Capital	42.39%	41.49%	44.64%	45.46%	44.05%	43.16%	43.52%	42.15%	44.60%	47.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	12.35%	11.93%	11.17%	11.45%	11.54%	11.92%	12.00%	11.86%	12.57%	13.01%
Common Equity to Total Capital	43.49%	44.86%	44.07%	42.96%	43.05%	41.59%	40.17%	37.39%	35.11%	34.13%
Debt to EBITDA	1.22	1.08	1.01	1.24	1.36	1.54	1.76	1.97	2.49	2.72
Net Debt to EBITDA	0.42	0.34	0.34	0.42	0.38	0.61	0.83	0.93	1.42	1.72
Long-Term Debt to EBITDA	1.18	1.04	1.01	1.24	1.32	1.43	1.60	1.63	2.13	2.42
Debt to NOPAT	1.84	1.59	1.47	1.84	2.05	2.35	2.77	3.12	4.18	4.75
Net Debt to NOPAT	0.63	0.51	0.50	0.62	0.58	0.93	1.31	1.47	2.39	3.01
Long-Term Debt to NOPAT	1.77	1.53	1.46	1.84	1.98	2.19	2.52	2.60	3.56	4.23
Altman Z-Score	3.26	3.35	3.51	3.20	3.22	3.17	3.33	3.20	3.18	3.03
Noncontrolling Interest Sharing Ratio	21.73%	21.48%	21.75%	21.46%	21.64%	21.61%	21.52%	22.45%	23.44%	24.61%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.66	1.76	1.90	1.84	1.67	1.59	1.43	1.31	1.23	1.17
Quick Ratio	1.15	1.26	1.27	1.24	1.17	1.11	0.95	0.87	0.73	0.69
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7,035	3,036	2,238	2,580	6,069	3,321	1,668	2,145	-96	1,278
Operating Cash Flow to CapEx	358.63%	603.58%	887.75%	828.27%	1,179.29%	211.09%	261.88%	665.71%	258.68%	272.47%
Free Cash Flow to Firm to Interest Expense	29.31	16.32	14.53	18.17	51.44	29.92	9.32	11.06	-0.44	5.21
Operating Cash Flow to Interest Expense	10.48	23.56	26.34	28.06	41.97	10.12	8.56	16.71	7.62	9.01
Operating Cash Flow Less CapEx to Interest Expense	7.55	19.66	23.38	24.67	38.42	5.32	5.29	14.20	4.67	5.70
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.96	2.05	1.98	1.74	1.71	1.71	1.72	1.75	1.69	1.70
Accounts Receivable Turnover	15.28	14.68	13.69	11.55	11.85	11.71	12.73	13.28	12.70	12.04
Inventory Turnover	15.78	17.97	14.77	12.97	12.97	14.17	12.86	13.55	12.81	13.37
Fixed Asset Turnover	4.81	0.00	4.87	4.42	4.38	4.25	4.22	4.30	4.15	4.00
Accounts Payable Turnover	10.41	10.46	8.89	7.51	7.97	8.84	9.04	9.39	8.97	9.13
Days Sales Outstanding (DSO)	23.89	24.86	26.66	31.61	30.81	31.16	28.66	27.48	28.75	30.33
Days Inventory Outstanding (DIO)	23.13	20.31	24.70	28.15	28.14	25.76	28.39	26.93	28.50	27.30
Days Payable Outstanding (DPO)	35.07	34.91	41.06	48.62	45.81	41.27	40.36	38.88	40.70	40.00
Cash Conversion Cycle (CCC)	11.95	10.26	10.31	11.14	13.14	15.65	16.69	15.53	16.55	17.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	42,849	43,551	42,865	41,732	40,503	42,198	42,655	41,705	41,813	41,920
Invested Capital Turnover	4.01	4.16	4.17	3.82	3.68	3.51	3.47	3.60	3.49	3.34
Increase / (Decrease) in Invested Capital	-1,828	679	968	116	-2,346	-1,353	-210	-27	1,310	-278
Enterprise Value (EV)	63,948	67,769	74,201	64,269	73,960	72,685	95,514	81,209	77,403	68,752
Market Capitalization	47,403	51,933	58,194	48,251	59,319	54,891	75,781	60,828	54,523	44,577
Book Value per Share	$52.75	$59.14	$60.28	$60.61	$64.68	$64.27	$63.50	$60.52	$56.57	$55.21
Tangible Book Value per Share	$36.22	$41.55	$41.78	$41.18	$44.06	$42.56	$40.66	$37.12	$31.94	$29.56
Total Capital	60,477	61,787	60,943	59,851	60,080	58,682	57,060	57,025	53,932	51,987
Total Debt	26,702	26,700	27,280	27,283	27,282	27,283	27,289	28,937	28,220	27,481
Total Long-Term Debt	25,638	25,634	27,205	27,211	26,463	25,329	24,832	24,034	24,053	24,432
Net Debt	9,074	8,464	9,202	9,164	7,705	10,799	12,884	13,617	16,101	17,414
Capital Expenditures (CapEx)	701	726	457	481	420	532	585	487	651	810
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,900	4,518	4,052	3,365	2,303	3,711	4,356	3,751	3,905	3,459
Debt-free Net Working Capital (DFNWC)	15,035	16,288	15,504	14,819	15,359	13,935	11,930	12,250	9,048	6,669
Net Working Capital (NWC)	13,971	15,222	15,429	14,747	14,540	11,981	9,473	7,347	4,881	3,620
Net Nonoperating Expense (NNE)	187	74	122	116	92	91	146	163	199	215
Net Nonoperating Obligations (NNO)	9,074	8,464	9,202	9,164	7,705	10,799	12,884	13,617	16,101	17,414
Total Depreciation and Amortization (D&A)	806	802	790	817	821	801	803	823	841	839
Debt-free, Cash-free Net Working Capital to Revenue	2.22%	2.51%	2.29%	2.11%	1.50%	2.47%	2.93%	2.50%	2.72%	2.46%
Debt-free Net Working Capital to Revenue	8.57%	9.05%	8.78%	9.31%	10.00%	9.27%	8.04%	8.17%	6.29%	4.75%
Net Working Capital to Revenue	7.96%	8.46%	8.74%	9.26%	9.47%	7.97%	6.38%	4.90%	3.40%	2.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$9.12	$6.66	$6.13	$5.34	$8.31	$3.95	$2.59	$4.34	$1.88	$1.30
Adjusted Weighted Average Basic Shares Outstanding	491M	512M	444M	417M	394M	407M	361M	349M	331M	340M
Adjusted Diluted Earnings per Share	$9.06	$6.62	$6.09	$5.32	$8.28	$3.94	$2.58	$4.33	$1.87	$1.30
Adjusted Weighted Average Diluted Shares Outstanding	494M	516M	447M	419M	396M	409M	362M	350M	332M	341M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	468.66M	445.55M	424.28M	399.84M	379.70M	361.36M	352.33M	334.68M	321.39M	312.58M
Normalized Net Operating Profit after Tax (NOPAT)	5,207	3,715	3,206	2,696	3,723	1,968	1,458	2,118	1,214	1,000
Normalized NOPAT Margin	11.02%	9.27%	9.14%	7.32%	8.95%	5.35%	4.39%	5.52%	3.43%	2.99%
Pre Tax Income Margin	13.65%	11.36%	11.14%	8.59%	11.15%	6.20%	4.83%	6.07%	3.19%	2.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	27.86	25.48	26.37	23.27	40.28	21.58	9.97	13.00	6.10	4.66
NOPAT to Interest Expense	21.70	19.97	20.82	18.98	31.55	17.73	8.15	10.92	5.49	4.08
EBIT Less CapEx to Interest Expense	24.94	21.58	23.40	19.89	36.72	16.78	6.70	10.49	3.16	1.35
NOPAT Less CapEx to Interest Expense	18.77	16.07	17.85	15.60	28.00	12.94	4.88	8.41	2.55	0.77
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.10%	15.53%	14.02%	17.72%	19.71%	22.75%	26.72%	28.66%	40.85%	49.95%
Augmented Payout Ratio	118.57%	92.87%	84.43%	103.93%	105.36%	126.33%	140.39%	149.32%	212.08%	237.73%

Frequently Asked Questions About Marathon Petroleum's Financials

When does Marathon Petroleum's fiscal year end?

According to the most recent income statement we have on file, Marathon Petroleum's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Marathon Petroleum's net income changed over the last 9 years?

Marathon Petroleum's net income appears to be on an upward trend, with a most recent value of $5.07 billion in 2024, rising from $2.87 billion in 2015. The previous period was $11.17 billion in 2023.

What is Marathon Petroleum's operating income?

Marathon Petroleum's total operating income in 2024 was $6.80 billion, based on the following breakdown:

Total Gross Profit: $14.17 billion
Total Operating Expenses: $7.38 billion

How has Marathon Petroleum revenue changed over the last 9 years?

Over the last 9 years, Marathon Petroleum's total revenue changed from $72.25 billion in 2015 to $140.41 billion in 2024, a change of 94.3%.

How much debt does Marathon Petroleum have?

Marathon Petroleum's total liabilities were at $54.35 billion at the end of 2024, a 0.4% decrease from 2023, and a 131.9% increase since 2015.

How much cash does Marathon Petroleum have?

In the past 9 years, Marathon Petroleum's cash and equivalents has ranged from $415 million in 2020 to $8.63 billion in 2022, and is currently $3.21 billion as of their latest financial filing in 2024.

How has Marathon Petroleum's book value per share changed over the last 9 years?

Over the last 9 years, Marathon Petroleum's book value per share changed from 24.84 in 2015 to 55.21 in 2024, a change of 122.3%.

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This page (NYSE:MPC) was last updated on 4/15/2025 by MarketBeat.com Staff

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Marathon Petroleum (MPC) Financials

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Marathon Petroleum (MPC) Financials

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