MPLX LP

MPLX Energy Oil & Gas Midstream

MPLX LP’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, up 8.92% from fiscal 2024.

Revenue
−0.39%
EPS
−23.8%
Free cash flow
−23.8%
Total debt
+3.75%

Quarter to September 2026, against a year earlier

56.63 0.38 +0.68%
Market cap
$57.3B
P/E
13.2×
Fwd P/E
14.0×
Dividend yield
9.74%
F-score
7/9
Altman Z
n/a
Beneish M
−2.57
Dividend safety
33/100

MPLX LP (MPLX) Free cash flow margin

Alert me on Free cash flow margin

MPLX LP's free cash flow margin over the twelve months to 30 September 2026 was 31.0%, down 8.0 percentage points from fiscal 2025 (39.1%). Over the past ten years it has ranged from 5.91% (fiscal 2016) to 45.0% (fiscal 2021); the current reading is higher than 64% of that period. That is above the Oil & Gas Midstream industry median of 14.4% and above the Energy sector median of 6.87%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 39.1% (1.94)
FY2024 41.0% 1.22
FY2023 39.8% 2.77
FY2022 37.0% (7.96)
FY2021 45.0% 0.12
FY2020 44.8% 25.99
FY2019 18.9% 5.03
FY2018 13.8% 0.81
FY2017 13.0% 7.10
FY2016 5.91% (2.54)

Against its own ten years

Low 5.91% High 45.0%
Ten-year median 37.0%
Current reading's percentile 64

Free cash flow margin against peers

Company Free cash flow margin
MPLX MPLX LP 31.0%
TRP TC Energy Corporation compare 25.8%
LNG Cheniere Energy, Inc. compare 16.3%
EPD Enterprise Products Partners L.P. compare 14.5%
KMI Kinder Morgan, Inc. compare 14.4%
ET Energy Transfer LP compare 10.9%
OKE ONEOK, Inc. compare 5.85%
TRGP Targa Resources, Inc. compare 5.13%
WMB Williams Companies, Inc. (The) compare −10.2%
Oil & Gas Midstream industry median 14.4%
Energy sector median 6.87%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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