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Murphy USA Inc.

MUSA Consumer Cyclical Specialty Retail

Murphy USA Inc.’s revenue for fiscal 2025 (year ended December 2025) was $19.4 billion, down 4.25% from fiscal 2024. In the quarter to June 2026, revenue grew 36.0%, EPS grew 52.4%, free cash flow fell 10.7% and total debt rose 5.04%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

547.67 2.94 +0.54%
Market cap
$10.0B
P/E
16.5×
Fwd P/E
17.2×
Dividend yield
0.47%
F-score
6/9
Altman Z
6.93
Beneish M
−2.87
Dividend safety
84/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 53.07
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 — 1 7 2 — 4 2 — 1 — —
Insider Ownership 9.21%

Capital & Financial Ratios $m

Market Cap 10,010.00
Revenue 21,479.00
Net Income 617.20
Free Cash Flow 542.80
Net Debt 2,010.70
Current Ratio 0.92 (below 1: weak)
Debt/Equity 2.79 (above 2: weak)
P/E ratio 16.53
Fwd P/E 17.20
P/S ratio 0.47
P/B ratio 12.90 (above 6: high)
Past 5Y EPS Growth 13.00%
This Y EPS Growth 40.24% (at or above 15%: strong)
Next Y EPS Growth (11.43%) (below 0%: weak)
Next Y revenue growth 20.65% (at or above 10%: strong)
Next 5Y EPS Growth 9.93%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.4×; over the ten years it ranged from 0.2× in 2019 to 0.7× in 2026.
P/E against its own 10 years 70.18%
10-year low 10-year high
P/S against its own 10 years 90.01%
10-year low 10-year high
P/B against its own 10 years 90.05%
10-year low 10-year high
EV/Sales against its own 10 years 89.97%
10-year low 10-year high
EV/FCF against its own 10 years 56.23%
10-year low 10-year high

Dividends

Payout Ratio 0.08
Annual Dividend Rate 2.55
Annual Dividend Yield 0.47%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.50
0.63
0.64
0.65
2025 2.15
0.49
0.50
0.53
0.63
2024 1.79
0.42
0.44
0.45
0.48
2023 1.55
0.37
0.38
0.39
0.41
2022 1.27
0.29
0.31
0.32
0.35
2021 1.04
0.25
0.25
0.25
0.29
2020 0.25
0.25
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 125 47 29 175
Receivables 337 269 276 379
Inventory 341 402 413 417
Other — — — —
827 748 748 1,008
2023 2024 2025 Q'26
Payables 835 874 865 1,015
ST’ Debt 15 16 19 19
Other — — — —
873 948 929 1,090

Compound Annual Growth %

10y 5y 3y
Sales 4.32% 11.47% (6.14%)
Cash Flow 14.19% 7.62% (6.47%)
Earnings 10.31% 4.04% (11.24%)
Book Value (2.37%) (4.48%) (0.90%)

Revenue $m

Mar Jun Sep Dec Year
’26 4,819 6,806 — — —
’25 4,525 5,005 5,110 4,744 19,384
’24 4,844 5,452 5,239 4,710 20,244
’23 5,077 5,585 5,798 5,069 21,529
’22 5,118 6,767 6,195 5,366 23,446
’21 3,537 4,456 4,600 4,767 17,361
’20 3,185 2,380 2,839 2,861 11,264
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 320 235 — — —
’25 129 255 185 246 814
’24 136 261 202 249 848
’23 150 171 190 273 784
’22 339 177 255 223 995
’21 230 101 256 150 737
’20 114 268 86 96 564
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 222 124 — — —
’25 41 139 68 129 377
’24 61 143 66 122 392
’23 77 101 111 162 451
’22 275 105 177 141 698
’21 177 18 182 90 466
’20 67 217 22 35 341
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 7.28 11.27 — — —
’25 2.63 7.36 6.76 7.53 24.10
’24 3.12 6.92 7.20 6.96 24.11
’23 4.80 6.02 7.69 7.00 25.49
’22 6.08 7.53 9.28 5.21 28.10
’21 2.01 4.79 3.98 4.23 14.92
’20 2.92 5.73 2.27 2.16 13.08
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 51.68 60.44 61.05 72.07 78.75 119.47 164.30 231.65 350.55 345.23

Analyst estimates 2026–2028

Powerpack
High 80.44 81.30 89.69 121.24 144.09 201.14 323.00 382.04 561.08 523.09
People
People Employees 9,100 9,600 9,500 9,900 9,900 14,615 15,100 15,600 17,200 16,900
Revenue/emp, $m 1.27 1.34 1.51 1.42 1.14 1.19 1.55 1.38 1.18 1.15
Income, $m
Income, $m Revenue 11,595 12,827 14,363 14,035 11,264 17,361 23,446 21,529 20,244 19,384
Gross margin, % 8.76 8.28 7.58 8.03 12.81 10.65 10.24 10.75 11.39 12.17
EBT 352 240 274 202 509 522 884 734 652 609
EBT margin, % 3.04 1.87 1.91 1.44 4.52 3.01 3.77 3.41 3.22 3.14
Net income 222 245 214 155 386 397 673 557 503 471
Depreciation 99 117 134 152 161 213 220 228 248 277
Per share, $
Per share, $ Revenue 295.26 358.12 439.58 444.22 386.66 662.36 997.45 1,001.69 985.94 1,004.20
Earnings 5.64 6.85 6.54 4.90 13.25 15.14 28.63 25.91 24.47 24.38
Cash flow 8.59 7.92 12.20 9.92 19.35 28.13 42.32 36.48 41.28 42.16
Capex (4.50) (7.19) (6.22) (6.40) (7.64) (10.35) (12.61) (15.50) (22.21) (22.65)
Free cash flow 4.09 0.73 5.99 3.51 11.71 17.78 29.70 20.97 19.07 19.52
Book value 17.75 20.62 24.71 25.42 26.92 30.80 27.26 38.57 40.91 32.30
Shares, m 39 36 33 32 29 26 24 21 21 19
Valuation, ×
Valuation, × P/E 11.04 11.56 11.68 23.68 9.89 13.09 9.54 13.83 20.43 16.44
P/S 0.21 0.23 0.17 0.26 0.34 0.30 0.27 0.36 0.51 0.40
P/B 3.49 3.91 3.10 4.60 4.86 6.47 10.01 9.31 12.26 12.49
EV/Sales 0.25 0.28 0.22 0.32 0.41 0.39 0.35 0.44 0.60 0.51
EV/FCF 18.36 137.42 16.27 40.13 13.64 14.55 11.66 20.83 30.92 26.39
Cash, $m
Cash, $m Operating cash flow 337 284 399 313 564 737 995 784 848 814
Capex (177) (257) (203) (202) (223) (271) (296) (333) (456) (437)
Free cash flow 161 26 196 111 341 466 698 451 392 377
Balance, $m
Balance, $m Working capital 1 81 92 206 94 93 (127) (46) (200) (181)
Total debt 670 881 863 1,038 1,002 1,815 1,807 1,800 1,848 2,183
Net debt 516 711 679 758 839 1,559 1,729 1,675 1,801 2,154
Shareholders’ equity 697 738 807 803 784 807 641 829 840 624
Returns, %
Returns, % ROA 11.14 11.10 9.11 6.13 14.37 11.79 16.47 13.16 11.32 10.16
ROIC 19.99 12.22 13.67 10.75 21.53 15.96 25.55 20.62 17.58 16.17
ROE 29.74 34.18 27.64 19.23 48.65 49.88 92.95 75.78 60.22 64.31
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Murphy USA Inc. vs peers in Specialty Retail (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ULTA Ulta Beauty Inc. $26.1B 21.5× 16.2× +8.87% (above 0%: growing) +13.28% (above 0%: growing) +96.46% (above 0%: growing) 39.10% 12.51% Compare
CASY Casey's General Stores, Inc. $24.9B 33.0× 37.3× +24.33% (above 0%: growing) +27.59% (above 0%: growing) −30.95% (below 0%: shrinking) 21.82% 6.50% Compare
BBY Best Buy Co., Inc. $19.8B 15.3× 11.4× +3.61% (above 0%: growing) +69.32% (above 0%: growing) +28.40% (above 0%: growing) 23.91% 4.31% Compare
TSCO Tractor Supply Company $17.4B 17.3× 14.0× +2.29% (above 0%: growing) −14.81% (below 0%: shrinking) −38.48% (below 0%: shrinking) 37.05% 10.29% Compare
GME GameStop Corp. $14.1B 13.4× 70.5× −18.72% (below 0%: shrinking) +76.32% (above 0%: growing) +115.70% (above 0%: growing) 43.66% 20.27% Compare
DKS DICK'S Sporting Goods, Inc. $12.5B 15.2× 15.3× +53.21% (above 0%: growing) −26.35% (below 0%: shrinking) −55.09% (below 0%: shrinking) 34.78% 7.89% Compare
FIVE Five Below, Inc. $12.3B 19.8× 21.2× +22.85% (above 0%: growing) +415.38% (above 0%: growing) +194.67% (above 0%: growing) 48.55% 21.83% Compare
MUSA Murphy USA Inc. $10.0B 16.5× 17.2× +35.99% (above 0%: growing) +52.42% (above 0%: growing) −10.68% (below 0%: shrinking) 10.97% 4.48%
BBWI Bath & Body Works, Inc. $4.1B 5.3× 6.0× −2.26% (below 0%: shrinking) +93.33% (above 0%: growing) +123.23% (above 0%: growing) 45.71% 14.27% Compare
Median of peers $15.8B 16.3× 15.8× +6.24% +48.46% +62.43% 38.08% 11.40%

All 49 Specialty Retail stocks →

Murphy USA Inc. (MUSA) key facts

  • Concern: Murphy USA Inc.’s revenue for fiscal 2025 (year ended December 2025) was $19.4 billion, down 4.25% from fiscal 2024.
  • Concern: Net income was $470.6 million, or $24.38 per share (basic), a net margin of 2.43%.
  • Murphy USA Inc. (MUSA) is a Specialty Retail company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MUSA traded at $547.67, a market capitalization of $10.0 billion.
  • At that price the stock trades at 16.5× trailing-twelve-month earnings and 0.5× sales; its P/E is higher than 70% of its own readings over the past ten years.
  • Murphy USA Inc. pays an annual dividend of $2.55 per share, a yield of 0.47%, with a payout ratio of 7.76%.
  • Return on equity was 64.3% and debt-to-equity 2.79.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 6.93 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Murphy USA Inc. (MUSA) Latest News

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stockrow.com/MUSA · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com