Marathon Petroleum is a leading integrated downstream and midstream energy company that operates 13 refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States with an aggregate crude oil refining capacity of 3.0 million barrels per day.
It is a $128B energy company. Revenue grew 15.0% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~2.3 years of free cash flow. It trades at 14.9× earnings — in the most expensive third of its own history.
- Website
- marathonpetroleum.com
- Location
- Findlay, OH
- Employees
- 18 500
- Sector
- Energy
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation and quality; Growth, Health and Moat lag behind.
Valuation80
- P/E vs own history76th pct · 5/25
- FCF yield10.1% · 25/25
- P/S0.8x · 25/25
- EV/EBITDA8.8x · 25/25
Growth31
- Revenue CAGR2.6% · 6/25
- Net income CAGR-19.7% · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth81.1% · 25/25
Profitability62
- ROIC8.7% · 12/25
- ROE48.7% · 25/25
- Net margin5.6% · 13/25
- Operating margin9.1% · 12/25
Health35
- Altman Zn/a · 0/25
- Current ratio1.25 · 12/25
- Interest coverage6.7x · 18/25
- Net cash / debtD/A 35% · 5/25
Quality84
- Piotroski F7/9 · 22/25
- Beneish M-2.76 · 25/25
- FCF conversion151% · 25/25
- Margin stabilityσ 12.4% · 12/25
Moat31
- ROIC >12% years5/10 yrs · 13/25
- Median gross margin10.4% · 0/25
- FCF-positive years9/10 yrs · 18/25
- Worst-year net marginworst -14.1% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2022FinancialBest year on record$14.5B net income
- FY2021FinancialPositive free cash flow every year since5-year streak
- 2020MilestoneForbes Global 2000, Marathon Petroleum was ranked as the 138th-largest public company in the world
- FY2019FinancialRevenue crossed $100B$124B for the year
- FY2018FinancialRevenue crossed $1B$95.8B for the year
- FY2018FinancialRevenue crossed $10B$95.8B for the year
- FY2018FinancialRevenue crossed $50B$95.8B for the year
- Oct 1, 2018AcquisitionFollowing its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery…
- FY2016FinancialFirst recorded profitable year$1.17B net income
- 2014AcquisitionSpeedway LLC, a now-former subsidiary of the company, purchased the retail operations of Hess Corporation…
- 2013AcquisitionMarathon purchased numerous assets from BP including a 451,000 barrel per calendar day refinery in Texas…
- Jun 30, 2011MilestoneMarathon Oil distributed all of its shares in the company to its shareholders via a corporate…
- 2005MilestoneAshland sold its share of Marathon Ashland to Marathon and the company became Marathon Petroleum
- 1998AcquisitionThe predecessor company of Marathon Petroleum Corporation, Marathon Petroleum Company LLC, formerly known as…
- 1911MilestoneAfter the United States Supreme Court ordered its parent company to break up as a result of the Sherman Anti-Trust…
- 1889AcquisitionThe company was acquired by the Standard Oil Trust and six years later its headquarters was moved to Findlay
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Revenue growing 15.0% year over year
- Interest covered 6.7× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+15.0% YoY
- Profitable — makes more than it spends$8.55B TTM
- Profit growing — earnings are higher than last year-22.2% YoY
- Generates cash — cash left after running and investing$12.9B TTM
- Debt under control — could handle its obligations~2.3y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$128B market cap
- Not printing shares — share count not ballooning — you keep your slice-52.9% shares over ~5y
- Proven track record — years of profitability behind it9/10 profitable years
- Financially stable — balance sheet not near distresshealth score 30/100
- Pays a dividend — returns cash to shareholdersyield 0.91%
- Valuation not extreme — price not wildly above earningsP/E 14.9
Peer comparisonMarathon Petroleum Corporation vs 6 largest energy peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| MPC this company | $127.8B | 14.9 | +15.0% | 5.6% | Strained |
| XOM ExxonMobil Holdings Corporation | $694.0B | 21.1 | +9.1% | 8.9% | Mixed |
| CVX Chevron Corporation | $416.8B | 20.3 | +10.2% | 9.6% | Mixed |
| SHEL Shell plc | $284.6B | 11.0 | -6.1% | 6.7% | Solid |
| TTE TotalEnergies SE | $191.1B | 10.9 | -6.8% | 7.2% | Solid |
| COP ConocoPhillips | $161.5B | 17.4 | +9.6% | 14.7% | Strained |
| VLO Valero Energy Corporation | $125.1B | 17.3 | +12.6% | 5.2% | Strong |
Head-to-head: MPC vs XOM · MPC vs CVX · MPC vs SHEL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/MPC
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of MPC on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $455.04 · market cap $128B.