Marathon Petroleum Corp (MPC)
Fair ValueFundamental
75
Price
$395.42
Market Cap
$113.69B
Part 1 · What the company is worth
Overview
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. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution, and marketing services. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures propane and petrochemicals. The company sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment gathers, transports, stores, distributes, and markets crude oil and refined products, including renewable diesel and other hydrocarbon-based products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and transports, fractionates, stores, and markets natural gas liquids. The Renewable Diesel segment processes renewable feedstocks into renewable diesel, markets, and distributes renewable diesel through its Midstream segment and third parties. It sells renewable diesel to wholesale marketing customers, buyers on the spot market, and through long-term supply contracts to direct dealers under the ARCO brand. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated on September 19, 2026 with claude-haiku-4-5 — shared with all users
The other large independent U.S. refiner, competing with Marathon for the same crude supply and for wholesale, spot and branded sales of gasoline and distillates across the Gulf Coast and Mid-Continent, and also in renewable diesel.
A refiner and marketer with a comparable mix of refineries, branded fuel stations and midstream logistics, selling refined products to the same U.S. wholesale and retail channels.
Through its U.S. downstream arm it runs some of the country's largest refineries and a national branded fuel network, competing directly with Marathon for refined-product volumes and station customers.
An independent refiner with plants on the East Coast, Gulf Coast and West Coast that competes for the same crude barrels and sells refined products into the same regional fuel markets as Marathon.
An independent refiner concentrated in the Rocky Mountains and Mid-Continent, competing with Marathon's inland refineries for regional gasoline and diesel demand and for renewable diesel feedstocks.
A smaller independent refiner in Texas and the Mid-Continent selling gasoline and diesel to the same wholesale and rack customers Marathon supplies in those regions.
Balance Sheet & Liquidity
Revenue
$153.58B
Trailing 12 months (through 6/30/2026)
Net Income
$8.55B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$4.77B
Total Equity
$17.31B
Total Liabilities
$59.87B
Current Ratio
1.25
Interest Coverage
8.67
Debt/EBITDA
2.97
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$354.66
Current Price
$395.42
Margin of Safety
-11.5%
Fair Value Range
$277.31 - $432.01
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
13.65
ROE
23.4%
P/B Ratio
5.82
P/FCF
8.61
Gross Margin
12.5%
ROIC
16.7%
Profitability Radar
Value Creation (Economic Moat)
ROIC
16.7%
WACC
6.9%
ROIC − WACC
+9.8 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- EPS CAGR 15.88%
- Price CAGR 22.91%
- ROIC 16.7%
- P/FCF 8.61
- Debt/Equity ratio
- Operating Margin 9.2%
- Positive Free Cash Flow
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 48.7%
- Revenue Growth 5Y 14.4%
- Analyst Consensus 60% Buy
- Earnings Surprise avg 45.3%
- Earnings Quality (OCF/NI) 2.00
- Share Dilution -10.4%
- Net Margin Trend 5.6% vs 1.6%
- Piotroski F-Score 7/9
Failed (6)
- Gross Margin 12.5%
- P/B Ratio 5.82
- CapEx intensity
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
Unavailable (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Ms. Maryann T. Mannen | President, CEO & Chairman of the Board | 62 |
| Ms. Molly R. Benson | Chief Legal Officer & Corporate Secretary | 58 |
| Mr. Rick D. Hessling | Chief Commercial Officer | 58 |
| Ms. Maria A. Khoury | Executive VP & CFO | 54 |
| Brian Worthington | Vice President of Investor Relations | - |
| Mr. Marlon J. Sullivan | Senior VP of Communications & Chief Human Resources Officer | 50 |
| Mr. Brian K. Partee | Chief Business Transformation Officer | 51 |
| Mr. James R. Wilkins | Senior Vice President of Health, Environment, Safety & Security | 58 |
| Mr. David R. Heppner | Chief Strategy Officer & Senior VP of Business Development | 58 |
| Mr. Ehren D. Powell | Senior VP & Chief Digital Officer | 45 |
Audit Risk
7
Board Risk
4
Compensation Risk
1
Shareholder Rights Risk
9
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-26
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-08-04
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-08-04
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for MPC, sourced from Markets Gazette.
- 6/18/2026POSITIVEHere's How Much You Would Have Made Owning Marathon Petroleum Stock In The Last 5 Years
Marathon Petroleum Corporation (MPC) has delivered a remarkable performance over the past five years, significantly outperforming the broader market. While specific return figures are not detailed in the provided snippet, the title implies substantial gains for shareholders. This sustained positive trend suggests strong operational execution, strategic growth initiatives, and favorable market conditions for the energy sector, particularly in refining and marketing. Investors who held MPC stock during this period would have likely seen considerable capital appreciation and potentially dividend income, underscoring the company's robust financial health and market position.
- 6/10/2026POSITIVE$1000 Invested In Marathon Petroleum 5 Years Ago Would Be Worth This Much Today
An investment of $1000 in Marathon Petroleum Corporation five years ago would have yielded a significant return, illustrating the company's strong performance and growth trajectory. This substantial appreciation suggests robust operational efficiency, strategic market positioning, and effective management that have translated into considerable shareholder value. Investors looking at the energy sector might consider MPC's historical performance as an indicator of potential future gains, though past performance is not indicative of future results.
- 4/10/2026POSITIVEHere's How Much $100 Invested In Marathon Petroleum 10 Years Ago Would Be Worth Today
An investment of $100 in Marathon Petroleum Corporation 10 years ago would have yielded a significant return, illustrating the company's strong performance over the past decade. While specific figures are not provided in this snippet, the framing suggests substantial capital appreciation and potentially dividend income for shareholders. This historical performance underscores Marathon Petroleum's resilience and growth trajectory within the energy sector, making it a noteworthy consideration for investors seeking long-term value.
- 3/24/2026POSITIVEWhy Marathon Petroleum Stock Is Breaking Out To Fresh All-Time Highs Today
Marathon Petroleum Corp. (NYSE: MPC) has surged to new all-time highs, driven by escalating geopolitical tensions in the U.S.-Israel-Iran conflict. This renewed focus on geopolitical risk in global energy markets is directly benefiting MPC. The stock's breakout suggests strong investor confidence in the company's ability to navigate and potentially profit from the volatile energy landscape. Investors are likely reacting to the increased likelihood of sustained higher energy prices, which typically boosts refining margins for companies like Marathon Petroleum.
- 2/21/2026POSITIVEMarathon Petroleum Returned $4.5 Billion to Shareholders in 2025. Here's Why It Could Happen Again.
Marathon Petroleum Corporation returned $4.5 billion to shareholders in 2025, a sign of financial strength that could be repeated. The robustness of its midstream income, which covers the dividend even if refining margins cool, offers notable stability. This approach to shareholder remuneration, supported by resilient cash flows, suggests prudent management focused on investor value. For shareholders, this implies potential continuity in returns and lower stock volatility, making it attractive in an uncertain market environment.
via Markets Gazette