# MARATHON PETROLEUM CORPORATION (MPC) — Stock CV

Marathon Petroleum Corporation 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.

> 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.

## Identity

- **Ticker**: MPC
- **Sector**: Energy
- **Industry**: Petroleum Refining
- **Headquarters**: FINDLAY, OH
- **Employees**: 18 500
- **Website**: https://www.marathonpetroleum.com
- **Market cap**: $128B
- **Last price**: $455.04
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $154B
- **Net income**: $8.55B
- **Free cash flow**: $12.9B
- **Net debt**: $29.2B
- **P/E**: 14.9
- **Revenue growth (YoY)**: 15.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 80 |
| Growth | 31 |
| Profitability | 62 |
| Health | 35 |
| Quality | 84 |
| Moat | 31 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +15.0% YoY
- [x] Profitable — $8.55B TTM
- [ ] Profit growing — -22.2% YoY
- [x] Generates cash — $12.9B TTM
- [x] Debt under control — ~2.3y of cash flow to repay
- [x] Established company — $128B market cap
- [x] Not printing shares — -52.9% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 30/100
- [x] Pays a dividend — yield 0.91%
- [x] Valuation not extreme — P/E 14.9

## Experience (career milestones)

- **FY2022** — Best year on record: $14.5B net income
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **2020** — Forbes Global 2000, Marathon Petroleum was ranked as the 138th-largest public company in the world
- **FY2019** — Revenue crossed $100B: $124B for the year
- **FY2018** — Revenue crossed $1B: $95.8B for the year
- **FY2018** — Revenue crossed $10B: $95.8B for the year
- **FY2018** — Revenue crossed $50B: $95.8B for the year
- **Oct 1, 2018** — Following its acquisition of Andeavor on October 1, 2018, Marathon Petroleum became the largest petroleum refinery…
- **FY2016** — First recorded profitable year: $1.17B net income
- **2014** — Speedway LLC, a now-former subsidiary of the company, purchased the retail operations of Hess Corporation…
- **2013** — Marathon purchased numerous assets from BP including a 451,000 barrel per calendar day refinery in Texas…
- **Jun 30, 2011** — Marathon Oil distributed all of its shares in the company to its shareholders via a corporate…
- **2005** — Ashland sold its share of Marathon Ashland to Marathon and the company became Marathon Petroleum
- **1998** — The predecessor company of Marathon Petroleum Corporation, Marathon Petroleum Company LLC, formerly known as…
- **1911** — After the United States Supreme Court ordered its parent company to break up as a result of the Sherman Anti-Trust…
- **1889** — The company was acquired by the Standard Oil Trust and six years later its headquarters was moved to Findlay

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $120B | $9.74B | $2.90B |
| FY2022 | $177B | $14.5B | $13.9B |
| FY2023 | $148B | $9.68B | $12.2B |
| FY2024 | $139B | $3.44B | $6.13B |
| FY2025 | $133B | $4.05B | $4.77B |

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Source: https://stockcv.com/MPC — derived from company filings; may be delayed or incomplete. Information, not investment advice.