Marathon Petroleum Corporation (MPC) Financial Ratios
18 years of historical data (2008–2025) · Energy · Oil & Gas Refining & Marketing
EV/EBITDA
↑
11.27
↑+64% vs avg
5yr avg: 6.88
30Y Low2.6·High9.0
P/FCF
↓
14.88
↑+79% vs avg
5yr avg: 8.31
30Y Low4.3·High23.8
P/B Ratio
↑
3.08
↑+74% 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 18.3x earnings, 52% 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 15.5x, the stock trades at a premium of 18%. On a free-cash-flow basis, the stock trades at 14.9x P/FCF, 79% 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 | $70.9B | $49.6B | $47.6B | $60.7B | $60.1B | $40.8B | $26.8B | $40.0B | $31.0B | $33.8B | $26.7B |
| Enterprise Value | $101.6B | $80.3B | $73.1B | $83.7B | $79.3B | $62.4B | $59.5B | $69.2B | $56.9B | $43.7B | $36.4B |
| P/E Ratio → | 18.31 | 12.26 | 13.83 | 6.27 | 4.14 | 23.79 | — | 15.18 | 11.17 | 9.85 | 22.78 |
| P/S Ratio | 0.53 | 0.37 | 0.34 | 0.41 | 0.34 | 0.34 | 0.38 | 0.36 | 0.36 | 0.45 | 0.42 |
| P/B Ratio | 3.08 | 2.06 | 1.94 | 1.93 | 1.71 | 1.22 | 0.89 | 0.93 | 0.69 | 1.55 | 1.26 |
| P/FCF | 14.88 | 10.41 | 7.76 | 4.96 | 4.31 | 14.10 | — | 8.64 | 10.42 | 8.71 | 23.75 |
| P/OCF | 8.59 | 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 11.3x EBITDA, 64% above its 5-year average of 6.9x. The Energy sector median is 7.8x, placing the stock at a 44% 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 | 11.27 | 8.90 | 8.52 | 5.27 | 3.58 | 8.15 | — | 9.00 | 8.29 | 7.13 | 8.30 |
| EV / EBIT | 17.61 | 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 13.8%. 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 7.2%. ROIC of 8.3% represents adequate returns on invested capital versus a sector median of 6.2%.
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 (46% above the sector average of 2.6x). 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 6.5% to shareholders annually — split between a 1.5% dividend yield and 4.9% buyback yield. The payout ratio of 28.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 5.5% (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 | 5.5% | 8.2% | 7.2% | 15.9% | 24.2% | 4.2% | — | 6.6% | 9.0% | 10.2% | 4.4% |
| FCF Yield | 6.7% | 9.6% | 12.9% | 20.2% | 23.2% | 7.1% | — | 11.6% | 9.6% | 11.5% | 4.2% |
| Buyback Yield | 4.9% | 7.0% | 19.3% | 19.1% | 19.9% | 11.4% | 0.0% | 4.9% | 10.6% | 7.0% | 0.7% |
| Total Shareholder Yield | 6.5% | 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 | $71B | 18.3 | 11.3 | 14.9 | 7.5% | 4.3% | 16.7% | 8.3% | 3.8 |
 VLO | $71B | 31.2 | 10.4 | 14.0 | 4.4% | 3.5% | 8.7% | 9.5% | 1.6 |
 PSX | $67B | 15.4 | 13.0 | 24.4 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
 PBF | $4B | -26.8 | 11.1 | — | -1.9% | -0.2% | -2.8% | -0.5% | 4.8 |
 DK | $3B | -109.1 | 6.6 | 115.5 | 5.3% | 3.7% | -4.1% | 9.9% | 4.2 |
 MPLX | $58B | 11.8 | 13.4 | 14.1 | 45.2% | 40.3% | 34.4% | 9.9% | 4.3 |
 ET | $65B | 13.9 | 9.1 | 16.8 | 21.8% | 11.4% | 10.2% | 6.3% | 4.9 |
 PAA | $15B | 12.9 | 9.1 | 6.6 | 6.0% | 3.2% | 11.0% | 5.3% | 4.7 |
 TRGP | $56B | 30.3 | 14.7 | 95.0 | 26.5% | 20.1% | 48.4% | 13.2% | 3.5 |
 WES | $17B | 14.3 | 10.9 | 11.5 | 68.5% | 41.3% | 31.0% | 10.5% | 3.9 |
 CVX | $346B | 26.2 | 10.4 | 20.9 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 18 years · Updated daily
Consensus-Based Analysis Tools
Full Stock Analysis
Deep dive into MPC consensus models and risk factors.
View Analysis
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
10-year return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
MPC — 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 18.3x. 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 11.3x. 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 18.3x. 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 1.54% 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.