Marathon Petroleum (MPC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Marathon Petroleum

NYSE•Energy•Oil & Gas Refining & Marketing

$421.96+8.04(0.02%)After hours

Market Cap

$121.94B

P/E

14.3x

P/S

0.8x

P/B

6.4x

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company in the United States. The company operates through three segments: Refining & Marketing; Midstream; and Renewable Diesel. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane and petrochemicals. The company sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment gathers, transports, stores, distributes, and markets crude oil and refined products, including renewable diesel and other hydrocarbon-based products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and transports, fractionates, stores, and markets natural gas liquids. The Renewable Diesel segment processes renewable feedstocks into renewable diesel, markets, and distributes renewable diesel through its Midstream segment and third parties. It sells renewable diesel to wholesale marketing customers, buyers on the spot market, and through long-term supply contracts to direct dealers under the ARCO brand. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.

How this company scores

GoodMetricSide Score: 77/100

Strongest: Cash & Earnings Quality (24/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability21/25

Growth20/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality24/25

Strengths

Rising free cash flowHigh ROERising earningsCash-backed earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 14.3x5y range 3.6x – 23.9x

Currently above its 20-quarter median.

P/S · 0.8x5y range 0.3x – 0.8x

Currently above its 20-quarter median.

P/B · 6.4x5y range 1.4x – 6.4x

Price & Volume

Market Cap $121.94B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $153.58B
Q. Revenue: $51.99B
TTM EBITDA: $17.45B
TTM Op. Income: $14.13B
Q. Op. Income: $7.32B
TTM Net Income: $8.55B
Q. Net Income: $5.14B
EPS: $17.76
Shares Out.: $289.00M

$153.58B in TTM revenue grew 15.0% YoY, reaching $51.99B last quarter. TTM EBITDA of $17.45B and TTM operating income of $14.13B show growth is flowing through to the bottom line. TTM net income of $8.55B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 17.2%
EBITDA Margin: 15.7%
Op. Margin: 14.1%
Net Margin: 9.9%

Op. margin of 14.1% is up 7.6% YoY — cost efficiency is improving. Net margin at 9.9% and gross margin of 17.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 117% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 14.3x
P/S Ratio: 0.8x
P/B Ratio: 6.4x

At 14.3x P/E, the stock trades below typical market levels. P/S of 0.8x and P/B of 6.4x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 40% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $94.31B
Cash: $7.77B
Long-Term Debt: $30.70B
Book Value: $19.08B
D/E Ratio: 1.6
Debt/EBITDA: 3.8

With $94.31B in assets and $30.70B in long-term debt, D/E is 1.6and book value is $19.08B — moderate leverage. Over the past year, debt/equity is down 0% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $10.33B
TTM Free Cash Flow: $12.90B
FCF Margin: 8.4%
FCF / Net Income: 1.5

TTM FCF of $12.90B on $10.33B in operating cash flow. The FCF / Net Income ratio of 1.5x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.