Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Marathon Petroleum

MPC stock analysis · Energy · Oil & Gas Refining & Marketing

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$255.67HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$74.6B

Price × SEC outstanding shares. Shares measured 2026-04-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$248.01

Equity cash-flow scenario · SEC outstanding shares at 2026-04-30 · -3.0% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

5.7%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

15.2%

19 sector peers · median 21.3×

How this is calculated ↗
Valuation

Historical multiples

7.9×

6 annual observations · snapshot P/E 18.5× · 133.5% versus history

How this is calculated ↗
Valuation

Free cash flow yield

6.4%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

12.9%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

47/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

6.5%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

6.2%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-2.9%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

-1.0%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 16.4B2020-12-31: cfo $2,419,000,000.002020-12-31: capex $2,787,000,000.0020202021-12-31: cfo $4,360,000,000.002021-12-31: capex $1,464,000,000.0020212022-12-31: cfo $16,361,000,000.002022-12-31: capex $2,420,000,000.0020222023-12-31: cfo $14,117,000,000.002023-12-31: capex $1,890,000,000.0020232024-12-31: cfo $8,665,000,000.002024-12-31: capex $2,533,000,000.0020242025-12-31: cfo $8,253,000,000.002025-12-31: capex $3,486,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$311.08$339.42$369.89
10.0%$227.95$248.01$269.55
12.0%$179.84$195.14$211.55

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-31132.7B5.9B8.3B3.5B84B
2024-12-31138.9B5.1B8.7B2.5B78.9B
2023-12-31148.4B11.2B14.1B1.9B86B
2022-12-31177.5B16.1B16.4B2.4B89.9B
2021-12-31120B11B4.4B1.5B85.4B
2020-12-3169.8B-10B2.4B2.8B85.2B
2019-12-31111.1B3.3B9.4B4.8B98.6B
2018-12-3186.1B3.6B6.2B3.2B92.9B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue132.7BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-26
netIncome5.9BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-26
Parent/common earnings proxy4BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-26
cfo8.3BNetCashProvidedByUsedInOperatingActivities2026-02-26
capex3.5BPaymentsToAcquirePropertyPlantAndEquipment2026-02-26
operatingIncome8.3BOperatingIncomeLoss2026-02-26
assets84BAssets2026-02-26
equity24.1BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-26
Parent book equity proxy17.3BStockholdersEquity2026-02-26
debt32.9BLongTermDebtAndCapitalLeaseObligationsCurrent + LongTermDebtAndCapitalLeaseObligations2026-02-26
shortDebtNot reported under a supported tag
cash3.7BCashAndCashEquivalentsAtCarryingValue2026-02-26
shares306MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-26
dividends1.1BPaymentsOfDividendsCommonStock2026-02-26
buybacks3.5BPaymentsForRepurchaseOfCommonStock2026-02-26
issuance24MProceedsFromIssuanceOfCommonStock2026-02-26