Marathon Petroleum Corporation (MPC) Financial Ratios
18 years of historical data (2008–2025) · Energy · Oil & Gas Refining & Marketing
EV/EBITDA
↑
11.43
↑+66% vs avg
5yr avg: 6.88
30Y Low2.6·High9.0
P/FCF
↓
15.18
↑+83% vs avg
5yr avg: 8.31
30Y Low4.3·High23.8
P/B Ratio
↑
3.11
↑+76% vs avg
5yr avg: 1.77
30Y Low0.7·High2.6
ROE
↓
16.7%
↑-36% vs avg
5yr avg: 26.2%
30Y Low-27%·High42%
Debt/EBITDA
↑
3.81
↑+39% vs avg
5yr avg: 2.74
30Y Low0.5·High4.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MPC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Marathon Petroleum Corporation trades at 18.5x earnings, 54% above its 5-year average of 12.1x, sitting at the 86th percentile of its historical range. Compared to the Energy sector median P/E of 16.9x, the stock trades at a premium of 10%. On a free-cash-flow basis, the stock trades at 15.2x P/FCF, 83% above the 5-year average of 8.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $72.4B | $49.6B | $47.6B | $60.7B | $60.1B | $40.8B | $26.8B | $40.0B | $31.0B | $33.8B | $26.7B |
| Enterprise Value | $103.1B | $80.3B | $73.1B | $83.7B | $79.3B | $62.4B | $59.5B | $69.2B | $56.9B | $43.7B | $36.4B |
| P/E Ratio → | 18.52 | 12.26 | 13.83 | 6.27 | 4.14 | 23.79 | — | 15.18 | 11.17 | 9.85 | 22.78 |
| P/S Ratio | 0.55 | 0.37 | 0.34 | 0.41 | 0.34 | 0.34 | 0.38 | 0.36 | 0.36 | 0.45 | 0.42 |
| P/B Ratio | 3.11 | 2.06 | 1.94 | 1.93 | 1.71 | 1.22 | 0.89 | 0.93 | 0.69 | 1.55 | 1.26 |
| P/FCF | 15.18 | 10.41 | 7.76 | 4.96 | 4.31 | 14.10 | — | 8.64 | 10.42 | 8.71 | 23.75 |
| P/OCF | 8.77 | 6.01 | 5.49 | 4.30 | 3.67 | 9.36 | 11.10 | 4.24 | 5.04 | 5.11 | 6.65 |
P/E links to full P/E history page with 30-year chart
MPC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Marathon Petroleum Corporation's enterprise value stands at 11.4x EBITDA, 66% above its 5-year average of 6.9x. The Energy sector median is 8.1x, placing the stock at a 40% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.61 | 0.53 | 0.56 | 0.45 | 0.52 | 0.85 | 0.62 | 0.66 | 0.58 | 0.57 |
| EV / EBITDA | 11.43 | 8.90 | 8.52 | 5.27 | 3.58 | 8.15 | — | 9.00 | 8.29 | 7.13 | 8.30 |
| EV / EBIT | 17.87 | 9.53 | 10.06 | 5.49 | 3.66 | 15.29 | — | 15.49 | 12.25 | 11.01 | 15.43 |
| EV / FCF | — | 16.84 | 11.92 | 6.85 | 5.69 | 21.56 | — | 14.93 | 19.09 | 11.27 | 32.36 |
MPC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Marathon Petroleum Corporation earns an operating margin of 4.3%, below the Energy sector average of 14.5%. Operating margins have compressed from 8.5% to 4.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 16.7% indicates solid capital efficiency, compared to the sector median of 7.9%. ROIC of 8.3% represents adequate returns on invested capital versus a sector median of 6.4%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.5% | 7.5% | 6.7% | 11.1% | 12.7% | 5.5% | 1.0% | 7.8% | 8.0% | 7.4% | 7.1% |
| Operating Margin | 4.3% | 4.3% | 3.8% | 8.5% | 10.7% | 3.6% | -17.6% | 4.0% | 5.4% | 5.4% | 3.8% |
| Net Profit Margin | 3.0% | 3.0% | 2.5% | 6.5% | 8.2% | 8.1% | -14.1% | 2.4% | 3.2% | 4.6% | 1.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.7% | 16.7% | 12.3% | 29.1% | 42.3% | 30.5% | -26.8% | 6.0% | 8.3% | 16.0% | 5.7% |
| ROA | 4.9% | 4.9% | 4.2% | 11.0% | 16.6% | 11.4% | -10.7% | 2.8% | 3.9% | 7.3% | 2.7% |
| ROIC | 8.3% | 8.3% | 7.5% | 17.3% | 26.0% | 5.5% | -13.6% | 4.7% | 6.9% | 9.6% | 5.8% |
| ROCE | 9.3% | 9.3% | 8.5% | 18.5% | 27.6% | 6.3% | -16.2% | 5.5% | 7.9% | 10.6% | 6.4% |
MPC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Marathon Petroleum Corporation carries a Debt/EBITDA ratio of 3.8x, which is moderately leveraged (58% above the sector average of 2.4x). Net debt stands at $30.7B ($34.4B total debt minus $3.7B cash). Interest coverage of 6.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.43 | 1.43 | 1.17 | 0.91 | 0.80 | 0.80 | 1.10 | 0.71 | 0.61 | 0.59 | 0.50 |
| Debt / EBITDA | 3.81 | 3.81 | 3.35 | 1.79 | 1.26 | 3.51 | — | 3.97 | 4.01 | 2.11 | 2.41 |
| Net Debt / Equity | — | 1.27 | 1.04 | 0.73 | 0.55 | 0.64 | 1.08 | 0.68 | 0.57 | 0.46 | 0.46 |
| Net Debt / EBITDA | 3.40 | 3.40 | 2.98 | 1.45 | 0.87 | 2.82 | — | 3.79 | 3.77 | 1.62 | 2.21 |
| Debt / FCF | — | 6.44 | 4.17 | 1.89 | 1.38 | 7.46 | — | 6.29 | 8.67 | 2.56 | 8.61 |
| Interest Coverage | 5.97 | 5.97 | 5.41 | 11.95 | 17.82 | 3.14 | -8.95 | 3.53 | 4.77 | 6.09 | 4.20 |
MPC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.26x means Marathon Petroleum Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.74x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.59x to 1.26x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.17 | 1.59 | 1.76 | 1.70 | 1.81 | 1.80 | 1.36 | 1.28 | 1.46 |
| Quick Ratio | 0.74 | 0.74 | 0.71 | 1.13 | 1.32 | 1.25 | 1.30 | 1.22 | 0.62 | 0.75 | 0.66 |
| Cash Ratio | 0.19 | 0.19 | 0.15 | 0.51 | 0.59 | 0.61 | 0.03 | 0.08 | 0.13 | 0.29 | 0.12 |
| Asset Turnover | — | 1.55 | 1.76 | 1.73 | 1.97 | 1.41 | 0.82 | 1.13 | 0.93 | 1.52 | 1.43 |
| Inventory Turnover | 12.11 | 12.11 | 13.54 | 14.15 | 17.55 | 14.07 | 8.64 | 10.45 | 8.05 | 12.47 | 10.40 |
| Days Sales Outstanding | — | 28.38 | 29.29 | 29.98 | 27.72 | 33.57 | 30.13 | 23.75 | 24.82 | 22.93 | 20.84 |
MPC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Marathon Petroleum Corporation returns 6.3% to shareholders annually — split between a 1.5% dividend yield and 4.8% buyback yield. The payout ratio of 28.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.5% | 2.3% | 2.4% | 2.1% | 2.1% | 3.6% | 5.6% | 3.5% | 3.1% | 2.3% | 2.7% |
| Payout Ratio | 28.2% | 28.2% | 33.5% | 13.0% | 8.8% | 15.2% | — | 53.0% | 34.3% | 22.5% | 61.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.4% | 8.2% | 7.2% | 15.9% | 24.2% | 4.2% | — | 6.6% | 9.0% | 10.2% | 4.4% |
| FCF Yield | 6.6% | 9.6% | 12.9% | 20.2% | 23.2% | 7.1% | — | 11.6% | 9.6% | 11.5% | 4.2% |
| Buyback Yield | 4.8% | 7.0% | 19.3% | 19.1% | 19.9% | 11.4% | 0.0% | 4.9% | 10.6% | 7.0% | 0.7% |
| Total Shareholder Yield | 6.3% | 9.3% | 21.7% | 21.1% | 22.0% | 15.0% | 5.6% | 8.4% | 13.7% | 9.3% | 3.4% |
| Shares Outstanding | — | $305M | $341M | $409M | $516M | $638M | $649M | $664M | $526M | $512M | $531M |
Peer Comparison
Compare MPC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MPCYou | $72B | 18.5 | 11.4 | 15.2 | 7.5% | 4.3% | 16.7% | 8.3% | 3.8 |
 VLO | $71B | 31.3 | 10.4 | 14.1 | 4.4% | 3.5% | 8.7% | 9.5% | 1.6 |
 PSX | $69B | 15.9 | 13.3 | 25.2 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
 PBF | $5B | -29.9 | 11.9 | — | -1.9% | -0.2% | -2.8% | -0.5% | 4.8 |
 DK | $3B | -118.4 | 6.9 | 125.4 | 5.3% | 3.7% | -4.1% | 9.9% | 4.2 |
 MPLX | $57B | 11.5 | 13.2 | 13.8 | 45.2% | 40.3% | 34.4% | 9.9% | 4.3 |
 ET | $68B | 14.7 | 9.4 | 17.8 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 PAA | $16B | 30.4 | 10.5 | 8.4 | 3.4% | 2.4% | 5.8% | 4.2% | 3.6 |
 TRGP | $54B | 29.3 | 14.3 | 13.7 | 26.5% | 20.1% | 48.4% | 13.3% | 3.5 |
 WES | $17B | 13.8 | 10.9 | 11.5 | 68.5% | 41.3% | 31.0% | 10.5% | 3.9 |
 CVX | $369B | 27.9 | 11.0 | 22.3 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
| Energy Median | — | 16.9 | 8.1 | 14.1 | 32.7% | 14.5% | 7.9% | 6.4% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
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Full MPC Stock Analysis
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Start ComparisonMPC — Frequently Asked Questions
Quick answers to the most common questions about buying MPC stock.
What is Marathon Petroleum Corporation's P/E ratio?
Marathon Petroleum Corporation's current P/E ratio is 18.5x. The historical average is 11.8x. This places it at the 86th percentile of its historical range.
What is Marathon Petroleum Corporation's EV/EBITDA?
Marathon Petroleum Corporation's current EV/EBITDA is 11.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.5x.
What is Marathon Petroleum Corporation's ROE?
Marathon Petroleum Corporation's return on equity (ROE) is 16.7%. The historical average is 15.7%.
Is MPC stock overvalued?
Based on historical data, Marathon Petroleum Corporation is trading at a P/E of 18.5x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Marathon Petroleum Corporation's dividend yield?
Marathon Petroleum Corporation's current dividend yield is 1.52% with a payout ratio of 28.2%.
What are Marathon Petroleum Corporation's profit margins?
Marathon Petroleum Corporation has 7.5% gross margin and 4.3% operating margin.
How much debt does Marathon Petroleum Corporation have?
Marathon Petroleum Corporation's Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.