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

MPLX LP

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

Dividend growth 5 yrs

56.63 0.38 +0.68%

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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

Overview Business Profile Earnings & Analysis Segments Valuation Filings

MPLX LP (MPLX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2017: revenue by segment, and margins
Natural Gas and NGL Services	2,305	59.61%
Crude Oil and Products Logistics	1,562	40.39%
Gross margin		56.09%
Operating margin		30.80%
Pre-tax margin		21.64%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
Natural Gas and NGL Services	4,886 50.24%	4,628 50.36%	4,380 50.15%	4,848 54.33%	4,089 50.98%	2,956 39.05%	2,851 52.32%	2,305 59.61%	1,735 57.28%	150 13.62%	—	—
Crude Oil and Products Logistics	4,840 49.76%	4,561 49.64%	4,353 49.85%	4,076 45.67%	3,932 49.02%	3,940 52.05%	2,598 47.68%	1,562 40.39%	1,294 42.72%	975 88.56%	793 100.00%	486 100.00%
Other, not broken out	—	—	—	—	—	673 8.89%	—	—	—	—	—	—
Eliminations	—	—	—	—	—	—	—	—	—	(24) (2.18%)	—	—
Revenue	9,726	9,189	8,733	8,924	8,021	7,569	5,449	3,867	3,029	1,101	793	486

Gross profit by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
Natural Gas and NGL Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude Oil and Products Logistics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

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

Figure	Quarter	Latest	A year before	Change
Bakken operations gathering throughput, consolidated	Q3 FY2026	151.0M	157.0M	−3.82%
Bakken operations natural gas processed, consolidated	Q3 FY2026	157.0M	157.0M	0.00%
Barges at period-end	Q3 FY2026	347.00	320.00	+8.44%
Crude oil pipeline average tariff rate	Q3 FY2026	$1.05	$1.08	−2.78%
Crude oil pipeline throughput	Q3 FY2026	3.9M	3.9M	+0.78%
Marcellus operations gathering throughput, consolidated	Q3 FY2026	1.8B	1.5B	+21.09%
Marcellus operations natural gas processed, consolidated	Q3 FY2026	4.7B	4.5B	+5.13%
Product pipeline average tariff rate	Q3 FY2026	$1.17	$1.09	+7.34%
Product pipeline throughput	Q3 FY2026	2.1M	2.1M	−0.05%
Remaining performance obligations	Q3 FY2026	$5.4B	$6.4B	−15.62%
Rockies operations gathering throughput, consolidated	Q4 FY2025	244.0M	552.0M	−55.80%
Rockies operations natural gas processed, consolidated	Q4 FY2025	277.0M	596.0M	−53.52%
Southern Appalachian operations natural gas processed, consolidated	Q3 FY2026	196.0M	168.0M	+16.67%
Southwest operations gathering throughput, consolidated	Q3 FY2026	2.0B	1.9B	+4.14%
Southwest operations natural gas processed, consolidated	Q3 FY2026	2.1B	2.0B	+6.20%
Terminal throughput	Q3 FY2026	3.4M	3.2M	+6.37%
Total gathering throughput, consolidated	Q3 FY2026	3.9B	4.1B	−3.35%
Total pipeline average tariff rate	Q3 FY2026	$1.09	$1.08	+0.93%
Total pipeline throughput	Q3 FY2026	6.0M	5.9M	+0.49%
Towboats at period-end	Q3 FY2026	30.00	29.00	+3.45%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018
Bakken operations gathering throughput, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Bakken operations natural gas processed, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Barges at period-end	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil pipeline average tariff rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Crude oil pipeline throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Marcellus operations gathering throughput, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Marcellus operations natural gas processed, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Product pipeline average tariff rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Product pipeline throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rockies operations gathering throughput, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rockies operations natural gas processed, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Southern Appalachian operations natural gas processed, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Southwest operations gathering throughput, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Southwest operations natural gas processed, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Terminal throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total gathering throughput, consolidated	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total pipeline average tariff rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total pipeline throughput	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Towboats at period-end	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

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.