Last 47 quarters of trend data · Energy · Oil & Gas Midstream
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 12.07 | 13.29 | 15.85 | 11.40 | 8.22 | 12.50 | 12.16 | 11.18 | 11.00 | 9.34 | 10.60 | 8.27 | 9.99 | 9.32 | 9.46 | 10.53 | 5.40 | 8.78 | 10.24 | 9.48 | 9.62 |
| — | +6.3% | +30.3% | +2.0% | -25.3% | +33.9% | +14.7% | +35.2% | +10.1% | +0.2% | +12.0% | -21.4% | +85.1% | +6.2% | -7.6% | +11.0% | -43.9% | -21.7% | +8.7% | +10.4% | +49.1% | |
| P/S Ratio | 4.99 | 4.32 | 5.07 | 4.38 | 3.52 | 4.71 | 4.73 | 4.29 | 4.08 | 4.05 | 4.02 | 3.44 | 3.28 | 3.40 | 3.38 | 3.29 | 2.77 | 2.64 | 3.37 | 2.91 | 2.99 |
| — | -8.4% | +7.2% | +2.1% | -13.9% | +16.4% | +17.5% | +24.7% | +24.5% | +18.9% | +18.9% | +4.5% | +18.6% | +29.0% | +0.5% | +13.3% | -7.4% | -20.4% | +13.5% | +8.9% | +55.0% | |
| P/B Ratio | 4.08 | 4.01 | 4.06 | 3.74 | 3.50 | 3.74 | 3.88 | 3.48 | 3.24 | 3.13 | 3.07 | 2.71 | 2.67 | 2.58 | 2.64 | 2.44 | 2.22 | 2.25 | 2.59 | 2.32 | 2.13 |
| — | +7.3% | +4.6% | +7.3% | +8.0% | +19.5% | +26.4% | +28.4% | +21.3% | +21.4% | +16.2% | +11.2% | +20.2% | +14.5% | +2.0% | +5.2% | +4.2% | +1.7% | +34.7% | +43.9% | +82.1% | |
| P/FCF | 14.39 | 16.30 | 18.80 | 17.35 | 6.37 | 9.15 | 13.94 | 8.92 | 9.99 | 8.03 | 10.11 | 7.57 | 8.78 | 7.23 | 8.15 | 7.51 | 9.51 | 5.41 | 8.81 | 6.95 | 6.99 |
| — | +78.1% | +34.8% | +94.6% | -36.3% | +13.9% | +37.9% | +17.9% | +13.8% | +11.0% | +24.1% | +0.8% | -7.6% | +33.6% | -7.5% | +8.0% | +35.9% | -10.7% | +32.3% | +21.4% | +60.9% | |
| EV / EBITDA | 13.58 | 11.77 | 14.95 | 11.63 | 8.76 | 11.27 | 11.08 | 10.30 | 10.25 | 9.13 | 9.96 | 8.43 | 9.55 | 9.11 | 9.21 | 9.71 | 6.39 | 8.67 | 9.87 | 8.97 | 8.84 |
| — | +4.4% | +35.0% | +12.9% | -14.6% | +23.4% | +11.2% | +22.2% | +7.4% | +0.2% | +8.1% | -13.1% | +49.4% | +5.1% | -6.7% | +8.3% | -27.7% | -13.7% | +9.2% | +8.4% | +17.8% | |
| EV / EBIT | 17.44 | 14.88 | 16.76 | 13.20 | 10.35 | 14.03 | 13.66 | 12.67 | 12.65 | 11.17 | 12.59 | 10.29 | 12.06 | 11.59 | 11.49 | 12.72 | 7.63 | 11.28 | 13.03 | 11.86 | 11.86 |
| — | +6.1% | +22.7% | +4.2% | -18.2% | +25.6% | +8.5% | +23.1% | +4.9% | -3.6% | +9.6% | -19.1% | +58.0% | +2.7% | -11.8% | +7.2% | -35.7% | -18.1% | +4.8% | -0.3% | +12.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.2% | 56.9% | 41.0% | 47.3% | 60.8% | 43.7% | 44.1% | 44.2% | 43.9% | 44.4% | 44.2% | 45.3% | 40.6% | 44.0% | 45.2% | 40.1% | 41.3% | 38.9% | 42.5% | 39.7% | 42.4% |
| — | +30.4% | -7.1% | +7.0% | +38.6% | -1.6% | -0.3% | -2.4% | +8.1% | +0.9% | -2.0% | +12.9% | -1.8% | +13.0% | +6.2% | +1.2% | -2.5% | -10.4% | -4.1% | -7.1% | -5.1% | |
| Operating Margin | 40.3% | 41.6% | 35.8% | 42.9% | 49.8% | 46.4% | 47.3% | 47.3% | 45.9% | 52.9% | 48.0% | 51.4% | 42.5% | 47.1% | 46.9% | 42.4% | 61.0% | 39.9% | 42.4% | 40.7% | 42.2% |
| — | -10.3% | -24.4% | -9.3% | +8.4% | -12.3% | -1.5% | -8.0% | +8.0% | +12.3% | +2.4% | +21.3% | -30.3% | +17.8% | +10.7% | +4.1% | +44.5% | -1.3% | -2.5% | -6.7% | +0.4% | |
| Net Margin | 41.6% | 32.8% | 31.9% | 38.5% | 42.7% | 37.6% | 39.0% | 38.7% | 37.4% | 43.8% | 38.6% | 42.4% | 33.8% | 37.4% | 37.0% | 32.6% | 52.1% | 31.3% | 33.0% | 32.0% | 32.8% |
| — | -12.7% | -18.3% | -0.5% | +14.3% | -14.2% | +1.1% | -8.7% | +10.4% | +17.2% | +4.3% | +29.9% | -35.0% | +19.4% | +12.2% | +2.0% | +58.5% | +1.9% | -0.0% | -2.3% | +5.5% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.4% | 7.6% | 6.3% | 8.2% | 10.8% | 7.5% | 8.0% | 7.9% | 7.4% | 8.5% | 7.4% | 8.4% | 6.9% | 7.1% | 7.1% | 6.0% | 10.7% | 6.7% | 6.3% | 6.2% | 5.8% |
| — | +2.2% | -21.1% | +4.6% | +45.3% | -12.7% | +8.7% | -6.9% | +7.4% | +20.1% | +4.0% | +40.3% | -35.1% | +6.1% | +12.0% | -3.4% | +82.6% | +30.9% | +19.3% | +26.2% | +24.4% | |
| ROA | 12.2% | 2.5% | 2.1% | 2.8% | 3.8% | 2.7% | 2.9% | 2.9% | 2.7% | 3.1% | 2.8% | 3.1% | 2.6% | 2.6% | 2.6% | 2.3% | 4.0% | 2.4% | 2.3% | 2.3% | 2.2% |
| — | -7.3% | -27.9% | -4.3% | +41.4% | -13.1% | +6.9% | -7.4% | +5.7% | +20.5% | +4.2% | +36.7% | -36.1% | +6.6% | +14.1% | -2.1% | +77.7% | +24.4% | +13.5% | +23.3% | +24.3% | |
| ROIC | 9.9% | 2.6% | 2.0% | 2.6% | 3.7% | 2.8% | 3.0% | 3.0% | 2.8% | 3.1% | 2.8% | 3.1% | 2.6% | 2.6% | 2.7% | 2.4% | 3.8% | 2.5% | 2.4% | 2.5% | 2.3% |
| — | -6.0% | -33.8% | -13.0% | +31.4% | -9.7% | +8.1% | -4.3% | +8.1% | +18.5% | +3.8% | +31.0% | -30.7% | +4.8% | +10.3% | -4.0% | +59.9% | +22.2% | +14.5% | +23.9% | +22.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.80 | 1.82 | 1.83 | 1.80 | 1.80 | 1.55 | 1.63 | 1.53 | 1.61 | 1.63 | 1.54 | 1.54 | 1.57 | 1.59 | 1.60 | 1.50 | 1.49 | 1.55 | 1.58 | 1.46 | 1.37 |
| — | +17.6% | +12.2% | +17.7% | +11.2% | -4.9% | +6.1% | -0.6% | +2.8% | +2.5% | -4.1% | +2.5% | +5.6% | +2.4% | +1.1% | +2.6% | +8.4% | +7.9% | +6.3% | -0.9% | -7.7% | |
| Debt / EBITDA | 4.28 | 14.86 | 18.91 | 15.54 | 12.15 | 13.43 | 13.54 | 12.86 | 14.14 | 12.98 | 13.36 | 12.44 | 14.37 | 14.08 | 14.00 | 14.87 | 10.27 | 14.22 | 14.99 | 13.90 | 13.85 |
| — | +10.6% | +39.6% | +20.9% | -14.1% | +3.4% | +1.4% | +3.4% | -1.6% | -7.8% | -4.6% | -16.4% | +40.0% | -1.0% | -6.6% | +7.0% | -25.8% | -10.1% | -5.1% | -12.3% | -17.5% | |
| Current Ratio | 1.23 | 0.89 | 1.10 | 1.23 | 1.31 | 1.03 | 1.08 | 1.01 | 0.99 | 0.99 | 0.72 | 1.07 | 1.96 | 1.76 | 1.53 | 0.79 | 0.78 | 0.74 | 0.63 | 0.45 | 0.56 |
| — | -13.7% | +1.7% | +21.4% | +32.7% | +4.1% | +50.1% | -5.4% | -49.5% | -43.7% | -52.9% | +34.9% | +150.5% | +139.6% | +143.8% | +76.3% | +40.1% | -4.5% | -45.2% | -38.0% | -32.9% | |
| Quick Ratio | 1.18 | 0.83 | 1.05 | 1.18 | 1.26 | 0.97 | 1.04 | 0.96 | 0.95 | 0.95 | 0.67 | 1.01 | 1.85 | 1.65 | 1.43 | 0.73 | 0.72 | 0.68 | 0.58 | 0.41 | 0.51 |
| — | -14.5% | +0.8% | +22.9% | +33.1% | +1.9% | +55.8% | -5.2% | -48.6% | -42.3% | -53.2% | +38.0% | +156.2% | +143.4% | +147.2% | +79.5% | +42.5% | -2.8% | -44.6% | -39.1% | -33.0% | |
| Interest Coverage | 6.05 | 4.77 | 3.98 | 5.35 | 7.02 | 5.19 | 5.84 | 5.62 | 5.26 | 6.15 | 5.28 | 6.20 | 5.12 | 5.01 | 4.92 | 4.45 | 7.01 | 4.71 | 4.68 | 4.76 | 4.59 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying MPLX stock.
MPLX Lp's current P/E is 12.1x. The average P/E over the last 4 quarters is 12.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
MPLX Lp's current operating margin is 40.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking MPLX Lp's business trajectory between earnings reports.