Marathon Petroleum

Energy Oil & Gas Refining & Marketing Findlay, Ohio Last filing Feb 26, 2026 · FY2025

                    Revenue
                    FY2025
                
$132.7B
                    3y CAGR -9.2%
                    
                    P11
                    
                    -4.4%
                    
                    Net income
                    FY2025
                
$4.0B
                    Net margin +3.0%
                    
                    P5
                    
                    +17.5%
                    
                    Total assets
                    FY2025
                
$84.0B
                    ROA +4.8%
                    
                    P32
                    
                    +6.5%
                    
                    Operating cash flow
                    FY2025
                
$8.3B
                    FCF margin +3.6%
                    
                    P17
                    
                    -4.8%

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

33 accounts · 3 years

Total assets $84.0B

Total liabilities $59.9B

Shareholders equity $17.3B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	2.8%	2.3%	3.7%
Accounts Receivable	7.8%	8.0%	7.8%
Inventory	7.6%	6.9%	6.3%
Prepaid Expenses	0.5%	0.4%	0.7%
Other Current Assets	0.5%	0.4%	0.7%
Total Current Assets	18.7%	17.6%	21.7%
Property,Plant and Equipment	28.2%	25.2%	23.7%
Operating Lease Assets	1.1%	0.9%	0.8%
Goodwill	7.0%	5.9%	5.6%
Intangible Assets	2.0%	1.2%	1.2%
Long Term Investments	5.1%	4.9%	4.2%
Other Noncurrent Assets	1.1%	2.1%	2.0%
Total Assets	63.3%	56.8%	58.0%
Liabilities
Accounts Payable	9.8%	10.0%	9.3%
Accrued Liabilities	1.2%	1.0%	1.0%
Current Portion of Long Term Debt	1.8%	2.2%	1.3%
Operating Lease Liabilities	0.4%	0.3%	0.3%
Other Current Liabilities	0.9%	0.8%	1.1%
Total Current Liabilities	14.8%	15.0%	13.6%
Long Term Debt	0.2%	0.1%	0.1%
Operating Lease Liabilities Noncurrent	0.7%	0.6%	0.5%
Deferred Tax Liabilities	4.5%	4.2%	3.9%
Other Noncurrent Liabilities	1.2%	0.9%	0.9%
Total Liabilities	45.1%	39.1%	36.8%
Equity
Preferred Stock	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	25.4%	24.2%	22.6%
Retained Earnings	30.0%	26.5%	23.3%
Treasury Stock	42.2%	37.9%	29.3%
Accumulated Other Comprehensive Income	-0.1%	-0.1%	-0.1%
Noncontrolling Interest	5.1%	4.7%	4.1%
Total Stockholders Equity	13.0%	12.8%	16.4%
Total Liabilitiesand Equity	63.3%	56.8%	58.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 3 years

Revenue $132.7B

Operating income $8.3B

Net income $4.0B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	90.0%	90.9%	86.6%
Expenses Selling,General and Administrative	2.5%	2.3%	2.0%
Expenses Depreciation and Amortization	2.4%	2.4%	2.2%
Expenses Share Based Compensation	0.1%	0.1%	0.1%
Expenses Operating Expenses	95.7%	96.2%	91.5%
Other Income Expense Operating Income	6.2%	4.9%	9.8%
Other Income Expense Interest Income	0.1%	0.3%	0.4%
Other Income Expense Interest Expense	1.1%	1.0%	0.9%
Other Income Expense Income Before Tax	5.3%	4.3%	9.4%
Income Tax Income Tax Expense	0.9%	0.6%	1.9%
net Income net Income	3.0%	2.5%	6.5%
net Income Comprehensive Income	3.1%	2.5%	6.4%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.2%	0.2%	0.3%
Earnings Per Share Weighted Average Shares Diluted	0.2%	0.2%	0.3%

Cash Flow Statement

Operating, investing, and financing flows

23 accounts · 3 years

Operating cash flow $8.3B

Investing cash flow $-5.9B

Financing cash flow $-1.9B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	3.0%	2.5%	6.5%
Operating Activities Depreciation and Amortization	2.4%	2.4%	2.2%
Operating Activities Stock Based Compensation	0.1%	0.1%	0.1%
Operating Activities Deferred Income Taxes	0.2%	-0.1%	-0.0%
Operating Activities Changes In Operating Assets and Liabilities	-0.2%	-0.6%	-1.1%
Operating Activities Other Non Cash Items	-0.1%	-0.2%	-0.3%
Operating Activities net Cash From Operating Activities	6.2%	6.2%	9.5%
Investing Activities Capital Expenditures	2.6%	1.8%	1.3%
Investing Activities Business Acquisitions	2.5%	0.5%	0.2%
Investing Activities Purchases of Investments	0.0%	2.1%	5.8%
Investing Activities Proceeds From Sale of Investments	0.0%	3.3%	3.4%
Investing Activities Other Investing Activities	-0.2%	-0.1%	-0.5%
Investing Activities net Cash From Investing Activities	-4.4%	1.1%	-2.1%
Financing Activities Repayment of Debt	4.9%	1.4%	0.7%
Financing Activities Repurchase of Common Stock	2.6%	6.6%	7.8%
Financing Activities Dividends Paid	0.9%	0.8%	0.8%
Financing Activities Proceeds From Stock Issuance	0.0%	0.0%	0.0%
Financing Activities Other Financing Activities	-0.0%	-0.0%	-0.0%
Financing Activities net Cash From Financing Activities	-1.4%	-9.0%	-9.6%
Cash Reconciliation Effect of Exchange Rate On Cash	2.8%	2.3%	3.7%
Cash Reconciliation net Change In Cash	0.3%	-1.6%	-2.1%
Cash Reconciliation Cash At Beginning of Period	2.8%	2.3%	3.7%
Cash Reconciliation Cash At End of Period	2.8%	2.3%	3.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+10.0%	+9.1%	+13.4%
Operating margin	+6.2%	+4.9%	+9.8%
Net margin	+3.0%	+2.5%	+6.5%
FCF margin	+3.6%	+4.4%	+8.2%
Growth
Revenue CAGR (3y)	-9.2%	+5.0%	+28.6%
Returns
ROE	+23.4%	+19.4%	+39.7%
ROA	+4.8%	+4.4%	+11.3%
ROIC	+42.8%	+32.6%	+55.0%
Liquidity
Current ratio	1.26x	1.17x	1.59x
Quick ratio	0.71x	0.69x	0.85x
Leverage
D/E	3.46x	3.06x	2.24x
Interest coverage	5.57x	4.98x	10.95x
Efficiency
Asset turnover	1.58x	1.76x	1.73x
Cash conversion cycle	+20d	+17d	+16d

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Marathon Petroleum

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