Friday 6 November 2026 Export MPC’s income statement to Excel — free account

Marathon Petroleum Corporation

MPC Energy Oil & Gas Refining & Marketing

Marathon Petroleum Corporation’s revenue for fiscal 2025 (year ended December 2025) was $132.7 billion, down 4.44% from fiscal 2024.

Revenue: +61.0%
EPS: +526.1%
Free cash flow: +477.9%
Total debt: +0.54%

Quarter to September 2026, against a year earlier

378.60 14.08 −3.59%

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Market cap: $102.7B
P/E: 7.2×
Fwd P/E: 6.8×
Dividend yield: 1.06%
F-score: 7/9
Altman Z: 3.14
Beneish M: −2.73
Dividend safety: 72/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Marathon Petroleum Corporation (MPC) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Refining & Marketing	124,252	93.63%
Midstream	5,628	4.24%
Renewable Diesel	2,814	2.12%
Gross margin		9.99%
Operating margin		6.25%
Pre-tax margin		5.29%

Revenue by product or service $m

Line	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Refined Products	62,289 89.27%	103,134 92.79%	79,897 92.81%	65,195 87.24%	54,450 86.05%	63,708 88.42%	90,702 92.73%	93,520 93.37%	76,234 92.69%	73,334 93.26%	56,025 89.66%	40,518 88.99%
Crude Oil	4,023 5.77%	4,402 3.96%	3,345 3.89%	2,862 3.83%	2,038 3.22%	2,718 3.77%	2,917 2.98%	2,988 2.98%	2,514 3.06%	1,972 2.51%	2,890 4.62%	1,533 3.37%
Midstream Services And Other	3,467 4.97%	3,612 3.25%	2,844 3.30%	1,779 2.38%	—	—	—	—	—	—	—	—
Merchandise	—	—	—	4,897 6.55%	5,297 8.37%	5,188 7.20%	3,817 3.90%	3,308 3.30%	3,229 3.93%	3,090 3.93%	3,369 5.39%	3,308 7.27%
Transportation And Other	—	—	—	—	1,492 2.36%	437 0.61%	381 0.39%	344 0.34%	266 0.32%	242 0.31%	203 0.32%	171 0.38%
Revenue	69,779	111,148	86,086	74,733	63,277	72,051	97,817	100,160	82,243	78,638	62,487	45,530

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2011	FY2010	FY2009
Refining & Marketing	124,252 93.63%	131,588 94.76%	141,835 95.59%	171,461 96.62%	115,350 96.14%	66,180 94.84%	107,305 96.54%	65,080 82.76%	49,939 79.92%	34,643 76.09%
Midstream	5,628 4.24%	5,197 3.74%	4,911 3.31%	5,366 3.02%	9,619 8.02%	8,438 12.09%	8,760 7.88%	—	—	—
Renewable Diesel	2,814 2.12%	2,079 1.50%	1,633 1.10%	626 0.35%	—	—	—	—	—	—
Speedway	—	—	—	—	—	—	—	13,490 17.15%	12,494 19.99%	10,838 23.80%
Pipeline Transportation	—	—	—	—	—	—	—	68 0.09%	54 0.09%	49 0.11%
Eliminations	—	—	—	—	(4,986) (4.16%)	(4,839) (6.93%)	(4,917) (4.42%)	—	—	—
Revenue	132,699	138,864	148,379	177,453	119,983	69,779	111,148	78,638	62,487	45,530

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2011	FY2010	FY2009
Midstream	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Refining & Marketing	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Speedway	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Pipeline Transportation	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Asphalt	Q3 FY2026	94.0K	83.0K	+13.25%
Crude oil capacity utilization	Q3 FY2026	100.0%	95.0%	—
Crude oil refined	Q3 FY2026	1.2M	1.2M	+7.37%
Crude oil refined	Q3 FY2026	3.0M	2.8M	+5.35%
Crude oil refining capacity	Q3 FY2026	3.0M	3.0M	+0.78%
Distillates	Q3 FY2026	1.2M	1.1M	+9.70%
Gasoline	Q3 FY2026	1.5M	1.5M	+3.76%
Gross refinery throughputs	Q3 FY2026	1.4M	1.3M	+5.98%
Heavy fuel oil	Q3 FY2026	78.0K	102.0K	−23.53%
Inter-region refinery transfers excluded from throughput and yields above	Q3 FY2026	65.0K	66.0K	−1.52%
Net refinery throughputs	Q3 FY2026	3.2M	3.0M	+4.83%
NGLs and petrochemicals	Q3 FY2026	218.0K	222.0K	−1.80%
Other charge and blendstocks	Q3 FY2026	145.0K	152.0K	−4.61%
Other charge and blendstocks	Q3 FY2026	177.0K	183.0K	−3.28%
Propane	Q3 FY2026	71.0K	62.0K	+14.52%
Refining & Marketing refined product sales volume	Q3 FY2026	4.0M	3.8M	+6.53%
Sour crude oil throughput	Q3 FY2026	45.0%	42.0%	—
Sweet crude oil throughput	Q3 FY2026	55.0%	58.0%	—
Total	Q3 FY2026	3.2M	3.0M	+5.07%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q4 FY2023
Asphalt	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil capacity utilization	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil refined	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil refined	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil refining capacity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Distillates	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gasoline	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross refinery throughputs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Heavy fuel oil	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Inter-region refinery transfers excluded from throughput and yields above	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net refinery throughputs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
NGLs and petrochemicals	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other charge and blendstocks	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other charge and blendstocks	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Propane	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Refining & Marketing refined product sales volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sour crude oil throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Sweet crude oil throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.