Murphy USA Inc. (MUSA) Financial Ratios
15 years of historical data (2011–2025) · Consumer Cyclical · Specialty Retail
EV/EBITDA
↑
13.71
↑+38% vs avg
5yr avg: 9.91
30Y Low6.5·High12.9
P/FCF
↑
28.73
↑+66% vs avg
5yr avg: 17.29
30Y Low9.7·High114.8
P/B Ratio
↑
18.20
↑+77% vs avg
5yr avg: 10.30
30Y Low3.0·High12.6
ROE
↑
64.3%
-6% vs avg
5yr avg: 68.6%
30Y Low8%·High93%
Debt/EBITDA
↑
3.19
↑+29% vs avg
5yr avg: 2.47
30Y Low0.0·High3.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MUSA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Murphy USA Inc. trades at 24.1x earnings, 61% above its 5-year average of 15.0x, sitting at the 100th percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.4x, the stock trades at a premium of 24%. On a free-cash-flow basis, the stock trades at 28.7x P/FCF, 66% above the 5-year average of 17.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.8B | $7.9B | $10.5B | $7.8B | $6.7B | $5.3B | $3.9B | $3.7B | $2.5B | $2.9B | $2.4B |
| Enterprise Value | $14.0B | $11.1B | $12.8B | $9.9B | $8.9B | $7.3B | $4.8B | $4.6B | $3.2B | $3.6B | $3.0B |
| P/E Ratio → | 24.12 | 16.74 | 20.81 | 13.99 | 9.95 | 13.35 | 10.01 | 24.07 | 11.83 | 11.85 | 11.00 |
| P/S Ratio | 0.55 | 0.41 | 0.52 | 0.36 | 0.29 | 0.31 | 0.34 | 0.27 | 0.18 | 0.23 | 0.21 |
| P/B Ratio | 18.20 | 12.64 | 12.45 | 9.40 | 10.45 | 6.57 | 4.93 | 4.64 | 3.13 | 3.93 | 3.50 |
| P/FCF | 28.73 | 21.05 | 26.85 | 17.37 | 9.71 | 11.46 | 11.60 | 34.35 | 13.00 | 114.84 | 32.37 |
| P/OCF | 13.21 | 9.68 | 12.34 | 9.93 | 6.73 | 7.19 | 6.85 | 11.90 | 6.34 | 10.25 | 7.22 |
P/E links to full P/E history page with 30-year chart
MUSA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Murphy USA Inc.'s enterprise value stands at 13.7x EBITDA, 38% above its 5-year average of 9.9x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 21% 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 | — | 0.57 | 0.63 | 0.46 | 0.38 | 0.42 | 0.43 | 0.33 | 0.22 | 0.28 | 0.25 |
| EV / EBITDA | 13.71 | 10.89 | 12.90 | 9.40 | 7.47 | 8.90 | 6.71 | 10.90 | 6.95 | 8.99 | 7.38 |
| EV / EBIT | 18.91 | 15.02 | 17.07 | 11.94 | 9.19 | 12.06 | 8.66 | 17.92 | 9.81 | 12.61 | 7.54 |
| EV / FCF | — | 29.66 | 32.81 | 22.17 | 12.92 | 15.75 | 14.55 | 42.49 | 16.49 | 142.94 | 39.22 |
MUSA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Murphy USA Inc. earns an operating margin of 3.8%, roughly in line with the Consumer Cyclical sector average. Return on equity of 64.3% is exceptionally high — well above the sector median of 5.7%. ROIC of 15.8% represents solid returns on invested capital versus a sector median of 5.8%.
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 | 5.0% | 5.0% | 11.4% | 10.7% | 10.2% | 10.7% | 12.8% | 8.0% | 7.6% | 8.3% | 8.8% |
| Operating Margin | 3.8% | 3.8% | 3.7% | 3.8% | 4.1% | 3.5% | 5.0% | 1.9% | 2.3% | 2.2% | 2.6% |
| Net Profit Margin | 2.4% | 2.4% | 2.5% | 2.6% | 2.9% | 2.3% | 3.4% | 1.1% | 1.5% | 1.9% | 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 | 64.3% | 64.3% | 60.2% | 75.8% | 92.9% | 49.9% | 48.7% | 19.2% | 27.6% | 34.2% | 29.7% |
| ROA | 10.2% | 10.2% | 11.3% | 13.2% | 16.5% | 11.8% | 14.4% | 6.1% | 9.1% | 11.1% | 11.1% |
| ROIC | 15.8% | 15.8% | 18.1% | 21.2% | 25.7% | 19.9% | 24.3% | 12.7% | 16.6% | 16.0% | 18.8% |
| ROCE | 20.0% | 20.0% | 21.0% | 24.5% | 29.2% | 21.9% | 25.8% | 13.2% | 17.7% | 16.8% | 19.5% |
MUSA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Murphy USA Inc. carries a Debt/EBITDA ratio of 3.2x, which is moderately leveraged (27% below the sector average of 4.4x). Net debt stands at $3.2B ($3.3B total debt minus $29M cash). Interest coverage of 6.7x 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 | 5.22 | 5.22 | 2.82 | 2.74 | 3.55 | 2.78 | 1.46 | 1.45 | 1.07 | 1.19 | 0.96 |
| Debt / EBITDA | 3.19 | 3.19 | 2.39 | 2.15 | 1.91 | 2.74 | 1.59 | 2.75 | 1.87 | 2.19 | 1.68 |
| Net Debt / Equity | — | 5.17 | 2.76 | 2.60 | 3.45 | 2.46 | 1.25 | 1.10 | 0.84 | 0.96 | 0.74 |
| Net Debt / EBITDA | 3.16 | 3.16 | 2.34 | 2.04 | 1.86 | 2.42 | 1.36 | 2.09 | 1.47 | 1.77 | 1.29 |
| Debt / FCF | — | 8.61 | 5.96 | 4.80 | 3.21 | 4.29 | 2.95 | 8.14 | 3.49 | 28.09 | 6.86 |
| Interest Coverage | 6.67 | 6.67 | 7.71 | 8.46 | 11.24 | 7.33 | 10.93 | 4.69 | 6.18 | 6.14 | 9.87 |
MUSA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.80x is below 1.0, meaning current liabilities exceed current assets. The quick ratio of 0.36x 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 0.95x to 0.80x 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 | 0.80 | 0.80 | 0.79 | 0.95 | 0.85 | 1.14 | 1.18 | 1.41 | 1.19 | 1.15 | 1.00 |
| Quick Ratio | 0.36 | 0.36 | 0.37 | 0.56 | 0.48 | 0.70 | 0.65 | 0.96 | 0.73 | 0.81 | 0.70 |
| Cash Ratio | 0.03 | 0.03 | 0.05 | 0.14 | 0.09 | 0.38 | 0.31 | 0.56 | 0.39 | 0.32 | 0.30 |
| Asset Turnover | — | 4.10 | 4.46 | 4.96 | 5.69 | 4.29 | 4.19 | 5.22 | 6.08 | 5.50 | 5.55 |
| Inventory Turnover | 44.58 | 44.58 | 44.67 | 56.32 | 65.95 | 53.07 | 35.19 | 56.71 | 59.93 | 64.47 | 68.98 |
| Days Sales Outstanding | — | 5.20 | 4.84 | 5.71 | 4.39 | 4.11 | 5.47 | 4.50 | 3.53 | 6.41 | 5.78 |
MUSA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Murphy USA Inc. returns 6.4% to shareholders annually — split between a 0.4% dividend yield and 6.0% buyback yield. The payout ratio of 8.8% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.1% (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 | 0.4% | 0.5% | 0.4% | 0.4% | 0.4% | 0.5% | 0.2% | — | — | — | — |
| Payout Ratio | 8.8% | 8.8% | 7.3% | 6.0% | 4.4% | 6.9% | 1.8% | — | — | — | — |
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 | 4.1% | 6.0% | 4.8% | 7.1% | 10.1% | 7.5% | 10.0% | 4.2% | 8.5% | 8.4% | 9.1% |
| FCF Yield | 3.5% | 4.8% | 3.7% | 5.8% | 10.3% | 8.7% | 8.6% | 2.9% | 7.7% | 0.9% | 3.1% |
| Buyback Yield | 6.0% | 8.2% | 4.3% | 4.3% | 12.0% | 6.7% | 10.3% | 4.4% | 5.7% | 7.1% | 13.3% |
| Total Shareholder Yield | 6.4% | 8.8% | 4.6% | 4.7% | 12.5% | 7.2% | 10.5% | 4.4% | 5.7% | 7.1% | 13.3% |
| Shares Outstanding | — | $20M | $21M | $22M | $24M | $27M | $30M | $32M | $33M | $36M | $40M |
Peer Comparison
Compare MUSA 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 |
|---|---|---|---|---|---|---|---|---|---|
 MUSAYou | $11B | 24.1 | 13.7 | 28.7 | 5.0% | 3.8% | 64.3% | 15.8% | 3.2 |
 CASY | $32B | 58.1 | 28.5 | 54.0 | 23.5% | 5.0% | 16.8% | 11.3% | 2.5 |
 ARKO | $753M | 44.7 | 18.6 | 11.5 | 3.4% | 1.3% | 6.1% | 2.3% | 16.7 |
 SUN | $9B | 18.5 | 15.1 | 15.1 | 8.3% | 3.7% | 8.7% | 4.0% | 10.0 |
 DINO | $13B | 22.7 | 8.1 | 14.7 | 5.2% | 3.5% | 6.2% | 6.1% | 1.8 |
 NTB | $2B | 10.3 | 2.5 | 8.8 | 75.9% | 29.8% | 21.4% | 14.9% | 0.1 |
 CAPL | $812M | 19.5 | 5.8 | 14.6 | 9.2% | 5.6% | — | 18.1% | 3.1 |
 IMKTA | $2B | 19.5 | 7.5 | 41.1 | 23.9% | 2.2% | 5.3% | 5.0% | 2.3 |
 WMK | $2B | 19.4 | 7.9 | 362.6 | 22.7% | 2.1% | 6.7% | 5.4% | 0.8 |
 COKE | $15B | 26.1 | 15.0 | 23.8 | 39.7% | 13.2% | 168.3% | 34.2% | 2.6 |
 PTLO | $315M | 16.1 | 16.1 | — | 39.4% | 7.0% | 3.9% | 3.0% | 12.4 |
| Consumer Cyclical Median | — | 19.4 | 11.4 | 15.3 | 36.8% | 2.9% | 5.7% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full MUSA Stock Analysis
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Start ComparisonMUSA — Frequently Asked Questions
Quick answers to the most common questions about buying MUSA stock.
What is Murphy USA Inc.'s P/E ratio?
Murphy USA Inc.'s current P/E ratio is 24.1x. The historical average is 13.9x. This places it at the 100th percentile of its historical range.
What is Murphy USA Inc.'s EV/EBITDA?
Murphy USA Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
What is Murphy USA Inc.'s ROE?
Murphy USA Inc.'s return on equity (ROE) is 64.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 41.3%.
Is MUSA stock overvalued?
Based on historical data, Murphy USA Inc. is trading at a P/E of 24.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Murphy USA Inc.'s dividend yield?
Murphy USA Inc.'s current dividend yield is 0.37% with a payout ratio of 8.8%.
What are Murphy USA Inc.'s profit margins?
Murphy USA Inc. has 5.0% gross margin and 3.8% operating margin.
How much debt does Murphy USA Inc. have?
Murphy USA Inc.'s Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.