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Marathon Petroleum Corp (MPC) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · Oil & Gas Refining & Marketing · DATA UPDATED 2026-07-13

Marathon Petroleum Corp (MPC) operates in the Oil & Gas Refining & Marketing industry and is headquartered in Findlay, United States with about 18,500 employees. Its market capitalization is roughly $90 billion. In the fiscal year ended 2025-12-31, MPC reported $132.7B in revenue and $4.0B in net income.

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company in the United States. The company operates through three segments: Refining & Marketing; Midstream; and Renewable Diesel.

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MPC Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Revenue	$135.8B	$132.7B	$138.9B	$148.4B	$177.5B	$120.0B	$69.8B	$111.1B	$86.1B	$74.7B	$63.3B	$72.1B	$97.8B	$100.2B	$82.2B	$78.6B	$62.5B	$45.6B	$65.3B
Gross Profit	$11.9B	$10.0B	$9.3B	$16.5B	$22.6B	$6.6B	$671M	$8.7B	$6.9B	$5.5B	$4.5B	$14.3B	$12.2B	$11.2B	$12.3B	$10.0B	$7.2B	$7.3B	$8.7B
Gross Margin %	8.8%	7.5%	6.7%	11.1%	12.7%	5.5%	1.0%	7.8%	8.0%	7.4%	7.1%	19.8%	12.5%	11.2%	15.0%	12.8%	11.6%	16.0%	13.4%
Operating Income (EBIT)	$6.8B	$5.8B	$5.2B	$12.6B	$19.0B	$4.3B	($12.2B)	$4.5B	$4.7B	$4.0B	$2.4B	$4.7B	$4.1B	$3.4B	$5.3B	$3.7B	$1.0B	$654M	$1.9B
Operating Margin %	5.0%	4.3%	3.8%	8.5%	10.7%	3.6%	-17.5%	4.0%	5.5%	5.4%	3.8%	6.5%	4.1%	3.4%	6.5%	4.8%	1.6%	1.4%	2.8%
Net Income	$4.6B	$4.0B	$3.4B	$9.7B	$14.5B	$9.7B	($9.8B)	$2.6B	$2.8B	$3.4B	$1.2B	$2.9B	$2.5B	$2.1B	$3.4B	$2.4B	$623M	$449M	$1.2B
Net Margin %	3.4%	3.0%	2.5%	6.5%	8.2%	8.1%	-14.1%	2.4%	3.2%	4.6%	1.8%	4.0%	2.6%	2.1%	4.1%	3.0%	1.0%	1.0%	1.9%
EBITDA	$12.2B	$11.7B	$10.6B	$18.6B	$24.9B	$7.4B	($8.9B)	$7.7B	$6.8B	$6.1B	$4.4B	$6.2B	$5.4B	$4.6B	$6.3B	$4.7B	$2.0B	$1.4B	$2.5B
Earnings Per Share (EPS)	$15.31	$13.27	$10.10	$23.67	$28.13	$15.26	$-15.14	$3.97	$5.29	$6.70	$2.21	$5.26	$4.40	$3.33	$4.95	$3.35	$0.87	$0.63	$1.70
Shares Outstanding (M)	295M	305M	341M	409M	516M	638M	649M	664M	526M	512M	531M	542M	574M	635M	684M	714M	716M	716M	716M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MPC Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$34.6B	$32.6B	$34.8B	$33.8B	$31.5B	$33.1B	$35.1B	$37.9B
Gross Profit	$3.3B	$2.9B	$2.8B	$3.0B	$1.4B	$1.8B	$2.1B	$3.1B
Gross Margin %	9.6%	8.9%	8.0%	8.8%	4.3%	5.3%	6.0%	8.3%
Operating Income (EBIT)	$1.4B	$1.8B	$1.7B	$1.9B	$354M	$812M	$1.3B	$2.5B
Operating Margin %	4.1%	5.7%	4.8%	5.6%	1.1%	2.5%	3.8%	6.7%
Net Income	$511M	$1.5B	$1.4B	$1.2B	($74M)	$371M	$622M	$1.5B
Net Margin %	1.5%	4.7%	3.9%	3.6%	-0.2%	1.1%	1.8%	4.0%
EBITDA	$2.0B	$3.6B	$3.6B	$3.0B	$1.5B	$2.1B	$2.3B	$3.5B
Earnings Per Share (EPS)	$1.73	$5.13	$4.51	$3.94	$-0.24	$1.16	$1.87	$4.33
Shares Outstanding (M)	295M	299M	304M	309M	313M	321M	332M	350M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MPC Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cash from Operations (CFO)	$9.4B	$8.3B	$8.7B	$14.1B	$16.4B	$4.4B	$2.4B	$9.4B	$6.2B	$6.6B	$4.0B	$4.1B	$3.1B	$3.4B	$4.5B	$3.3B	$2.2B	$2.5B	$684M
Capital Expenditures (CapEx)	$3.7B	$3.5B	$2.5B	$1.9B	$2.4B	$1.5B	$2.8B	$4.8B	$3.2B	$2.7B	$2.9B	$2.0B	$1.5B	$1.2B	$1.4B	$1.2B	$1.2B	$2.9B	$2.8B
Free Cash Flow (FCF)	$5.7B	$4.8B	$6.1B	$12.2B	$13.9B	$2.9B	($368M)	$4.6B	$3.0B	$3.9B	$1.1B	$2.1B	$1.6B	$2.2B	$3.1B	$2.1B	$1.0B	($436M)	($2.1B)
FCF Margin %	4.2%	3.6%	4.4%	8.2%	7.9%	2.4%	-0.5%	4.2%	3.5%	5.2%	1.8%	2.9%	1.7%	2.2%	3.8%	2.7%	1.6%	-1.0%	-3.2%
Dividends Paid	$1.1B	$1.1B	$1.2B	$1.3B	$1.3B	$1.5B	$1.5B	$1.4B	$954M	$773M	$719M	$613M	$524M	$484M	$407M	$943M	$1.3B	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MPC Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$1.1B	$3.1B	$2.6B	$2.6B	($64M)	$2.2B	$1.7B	$3.2B
Capital Expenditures (CapEx)	$913M	$1.2B	$947M	$695M	$663M	$810M	$651M	$487M
Free Cash Flow (FCF)	$208M	$1.9B	$1.7B	$1.9B	($727M)	$1.4B	$1.0B	$2.8B
FCF Margin %	0.6%	5.8%	4.8%	5.8%	-2.3%	4.2%	2.9%	7.3%
Dividends Paid	$295M	$300M	$276M	$279M	$285M	$292M	$273M	$290M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MPC Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Assets	$88.2B	$85.6B	$78.9B	$86.0B	$89.9B	$85.4B	$85.2B	$98.6B	$92.9B	$49.0B	$44.4B	$43.1B	$30.4B	$28.4B	$27.2B	$25.7B	$23.2B	$21.3B	$18.2B
Cash & Cash Equivalents	$2.2B	$3.7B	$3.2B	$5.4B	$8.6B	$5.3B	$415M	$1.4B	$1.7B	$3.0B	$887M	$1.1B	$1.5B	$2.3B	$4.9B	$3.1B	$118M	$128M	$108M
Total Liabilities	$64.8B	$61.5B	$54.4B	$54.6B	$54.8B	$51.8B	$54.9B	$55.4B	$47.9B	$27.2B	$23.2B	$23.4B	$19.0B	$17.1B	$15.1B	$16.2B	$15.0B	$12.1B	$9.2B
Total Debt (Short + Long-Term)	$33.3B	$33.4B	$27.9B	$27.7B	$26.6B	$25.5B	$32.1B	$29.3B	$27.5B	$12.9B	$10.6B	$11.9B	$6.6B	$3.4B	$3.4B	$3.3B	$3.9B	$2.6B	$15M
Total Shareholders' Equity	$16.8B	$17.3B	$17.7B	$24.4B	$27.7B	$26.2B	$22.2B	$33.7B	$35.2B	$14.0B	$13.6B	$13.2B	$10.8B	$10.9B	$11.7B	$9.5B	$8.2B	$9.2B	$8.9B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MPC viewer.

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