financial statements

The full income statement, balance sheet, and cash-flow statement for Marathon Petroleum Corporation (MPC), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live MPC chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	133B YoY-4.4%	139B YoY-6.4%	148B YoY-16.4%	177B YoY+47.9%	120B YoY+71.9%
Cost of revenue	119B YoY-5.4%	126B YoY-1.8%	129B YoY-15.2%	152B YoY+37.9%	110B YoY+67.4%
Selling, general & administrative	3.35B YoY+4.0%	3.22B YoY+6.0%	3.04B YoY+9.6%	2.77B YoY+9.3%	2.54B YoY-6.4%
Restructuring	—	—	—	0.00	0.00 YoY-100.0%
Amortization of intangibles	271M YoY+1.9%	266M YoY-15.8%	316M YoY+0.0%	316M YoY-4.2%	330M YoY-1.8%
Operating income	8.29B YoY+22.0%	6.80B YoY-53.2%	14.5B YoY-32.4%	21.5B YoY+399.3%	4.30B YoY+135.1%
Interest & investment income	159M YoY-57.7%	376M YoY-29.1%	530M YoY+177.5%	191M YoY+1264.3%	14.0M YoY+55.6%
Equity-method income	1.62B YoY+54.8%	1.05B YoY+41.2%	742M YoY+13.3%	655M YoY+43.0%	458M YoY+149.0%
Pre-tax income	7.01B YoY+17.8%	5.96B YoY-57.4%	14.0B YoY-31.7%	20.5B YoY+626.6%	2.82B YoY+120.7%
Income tax	1.14B YoY+27.8%	890M YoY-68.4%	2.82B YoY-37.3%	4.49B YoY+1601.1%	264M YoY+110.9%
	4.05B YoY+17.5%	3.44B YoY-64.4%	9.68B YoY-33.3%	14.5B YoY+49.1%	9.74B YoY+199.1%
Net income to common	4.04B YoY+17.5%	3.44B YoY-64.4%	9.67B YoY-33.3%	14.5B YoY+49.0%	9.74B YoY+199.1%
	$13.22 YoY+31.2%	$10.08 YoY-57.3%	$23.63 YoY-16.0%	$28.12 YoY+84.5%	$15.24 YoY+200.7%
EPS (basic)	$13.24 YoY+31.0%	$10.11 YoY-57.4%	$23.73 YoY-16.2%	$28.31 YoY+84.6%	$15.34 YoY+201.4%
Weighted-avg shares (basic)	305M YoY-10.3%	340M YoY-16.5%	407M YoY-20.5%	512M YoY-19.2%	634M YoY-2.3%
Weighted-avg shares (diluted)	306M YoY-10.3%	341M YoY-16.6%	409M YoY-20.7%	516M YoY-19.1%	638M YoY-1.7%
Dividends per share	$3.73 YoY+10.2%	$3.38 YoY+10.1%	$3.08 YoY+23.5%	$2.49 YoY+7.3%	$2.32 YoY+0.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	24.8B YoY+1.4%	24.4B YoY-23.9%	32.1B YoY-8.8%	35.2B YoY+15.6%	30.5B YoY+7.8%
Cash & equivalents	3.67B YoY+14.4%	3.21B YoY-41.0%	5.44B YoY-36.9%	8.63B YoY+63.0%	5.29B YoY+1174.9%
Short-term investments	0.00	0.00 YoY-100.0%	4.78B YoY+52.0%	3.15B YoY-43.3%	5.55B
Accounts receivable	10.3B YoY-7.4%	11.1B YoY-8.6%	12.2B YoY-9.6%	13.5B YoY+22.1%	11.0B YoY+91.6%
Inventory	10.1B YoY+5.9%	9.57B YoY+2.7%	9.32B YoY+5.6%	8.83B YoY+9.6%	8.05B YoY+0.7%
Other current assets	662M YoY+26.3%	524M YoY+30.0%	403M YoY-65.5%	1.17B YoY+105.6%	568M YoY-79.1%
	84.0B YoY+6.5%	78.9B YoY-8.3%	86.0B YoY-4.4%	89.9B YoY+5.3%	85.4B YoY+0.3%
Property, plant & equipment	37.6B YoY+0.0%	37.6B YoY+0.0%	37.6B YoY+0.0%	37.6B YoY+0.0%	37.6B YoY-3.6%
Operating lease right-of-use	1.49B YoY+14.8%	1.30B YoY+5.4%	1.23B YoY+1.6%	1.21B YoY-11.5%	1.37B YoY-9.8%
Goodwill	9.35B YoY+13.5%	8.24B YoY+0.0%	8.24B YoY+0.0%	8.24B YoY-0.1%	8.26B YoY+0.0%
Intangible assets	2.71B YoY+53.0%	1.77B YoY+0.5%	1.76B YoY-5.9%	1.88B YoY-12.1%	2.13B YoY-9.5%
Other non-current assets	1.42B YoY+17.7%	1.21B YoY-59.8%	3.01B YoY-2.4%	3.08B YoY+28.4%	2.40B YoY-9.0%
	19.7B YoY-5.5%	20.8B YoY+3.4%	20.1B YoY+0.6%	20.0B YoY+11.9%	17.9B YoY+14.3%
Accounts payable	13.0B YoY-6.7%	13.9B YoY+1.1%	13.8B YoY-10.1%	15.3B YoY+11.8%	13.7B YoY+75.6%
Short-term & current debt	2.37B YoY-22.2%	3.05B YoY+56.0%	1.95B YoY+83.3%	1.07B YoY+86.7%	571M YoY-80.0%
Current lease liability	489M YoY+17.3%	417M YoY-8.1%	454M YoY+23.4%	368M YoY-16.0%	438M YoY-11.9%
Other current liabilities	1.25B YoY+8.5%	1.16B YoY-29.8%	1.65B YoY+41.0%	1.17B YoY+11.5%	1.05B YoY+27.4%
	59.9B YoY+10.2%	54.4B YoY-0.4%	54.6B YoY-0.4%	54.8B YoY+5.8%	51.8B YoY-5.7%
Long-term debt	3.30B YoY+0.0%	3.30B YoY+0.0%	3.30B YoY+0.0%	3.30B YoY+0.0%	3.30B YoY+0.0%
Non-current lease liability	993M YoY+15.5%	860M YoY+12.6%	764M YoY-9.2%	841M YoY-9.3%	927M YoY-8.6%
Deferred tax liabilities	5.98B YoY+3.7%	5.77B YoY-1.1%	5.83B YoY-1.2%	5.90B YoY+4.7%	5.64B YoY-9.1%
	17.3B YoY-2.4%	17.7B YoY-27.3%	24.4B YoY-11.9%	27.7B YoY+5.8%	26.2B YoY+18.1%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	10.0M YoY+0.0%	10.0M YoY+0.0%	10.0M YoY+0.0%	10.0M YoY+0.0%	10.0M YoY+0.0%
Additional paid-in capital	33.7B YoY+0.2%	33.6B YoY+0.5%	33.5B YoY+0.2%	33.4B YoY+0.4%	33.3B YoY+0.2%
Retained earnings	39.8B YoY+7.9%	36.8B YoY+6.6%	34.6B YoY+32.2%	26.1B YoY+102.6%	12.9B YoY+177.5%
Treasury stock	56.0B YoY+6.5%	52.6B YoY+21.0%	43.5B YoY+36.6%	31.8B YoY+60.0%	19.9B YoY+31.3%
Accumulated other comprehensive income	-105M YoY+7.9%	-114M YoY+13.0%	-131M YoY-6650.0%	2.00M YoY+103.0%	-67.0M YoY+86.9%
Non-controlling interest	6.77B YoY+3.3%	6.56B YoY+7.5%	6.10B YoY-4.7%	6.40B YoY-0.1%	6.41B YoY-9.1%
Total equity incl. non-controlling	24.1B YoY-0.9%	24.3B YoY-20.3%	30.5B YoY-10.6%	34.1B YoY+4.6%	32.6B YoY+11.5%
Total liabilities & equity	84.0B YoY+6.5%	78.9B YoY-8.3%	86.0B YoY-4.4%	89.9B YoY+5.3%	85.4B YoY+0.3%
Common shares issued	994M YoY+0.0%	994M YoY+0.1%	993M YoY+0.3%	990M YoY+0.6%	984M YoY+0.4%
Common shares outstanding	357M YoY+0.0%	357M YoY+0.0%	357M YoY+0.0%	357M YoY+0.0%	357M YoY+0.0%
Shares outstanding (cover)	301M YoY-6.5%	321M YoY-15.4%	380M YoY-19.0%	469M YoY-23.9%	616M YoY-5.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	8.25B YoY-4.8%	8.66B YoY-38.6%	14.1B YoY-13.7%	16.4B YoY+275.3%	4.36B YoY+80.2%
Depreciation & amortization	3.25B YoY-2.6%	3.34B YoY+0.9%	3.31B YoY+2.9%	3.21B YoY-4.4%	3.36B YoY-0.3%
Share-based compensation	160M YoY+16.8%	137M YoY-35.1%	211M YoY+37.9%	153M YoY+73.9%	88.0M YoY-12.0%
Deferred income taxes	282M YoY+327.4%	-124M YoY-342.9%	-28.0M YoY-109.7%	290M YoY+271.6%	-169M YoY+29.9%
Change in receivables	-890M YoY+20.3%	-1.12B YoY+47.0%	-2.11B YoY-173.8%	2.86B YoY-46.1%	5.30B YoY+461.7%
Change in inventory	596M YoY+120.7%	270M YoY-44.8%	489M YoY-37.9%	787M YoY+2284.8%	33.0M YoY+101.9%
Other operating activities	-188M YoY+25.4%	-252M YoY+38.8%	-412M YoY+33.8%	-622M YoY-306.5%	-153M YoY-180.1%
	-5.87B YoY-482.5%	1.53B YoY+149.6%	-3.10B YoY-596.8%	623M YoY-95.8%	14.8B YoY+554.3%
Capital expenditure	3.49B YoY+37.6%	2.53B YoY+34.0%	1.89B YoY-21.9%	2.42B YoY+65.3%	1.46B YoY-47.5%
Acquisitions	3.32B YoY+382.0%	688M YoY+179.7%	246M YoY-40.4%	413M	0.00
Sales/maturities of investments	0.00 YoY-100.0%	4.53B YoY-10.3%	5.05B YoY-29.5%	7.16B YoY+32.4%	5.41B
Other investing activities	-273M YoY-39.3%	-196M YoY+72.1%	-702M YoY+14.8%	-824M YoY-60.6%	-513M YoY-714.3%
	-1.92B YoY+84.5%	-12.4B YoY+12.5%	-14.2B YoY-4.1%	-13.6B YoY+5.4%	-14.4B YoY-10580.7%
Common stock issued	24.0M YoY-4.0%	25.0M YoY-59.7%	62.0M YoY-74.5%	243M YoY+129.2%	106M YoY+863.6%
Common stock repurchased	3.49B YoY-62.0%	9.19B YoY-20.6%	11.6B YoY-2.9%	11.9B YoY+156.2%	4.65B
Dividends paid	1.14B YoY-1.2%	1.15B YoY-8.5%	1.26B YoY-1.4%	1.28B YoY-13.8%	1.48B YoY-1.7%
Other financing activities	-30.0M YoY+33.3%	-45.0M YoY+10.0%	-50.0M YoY-13.6%	-44.0M YoY-25.7%	-35.0M YoY+0.0%
Interest paid	1.22B YoY-2.2%	1.25B YoY+3.9%	1.20B YoY+13.2%	1.06B YoY-13.9%	1.23B YoY-0.3%
Income taxes paid	406M YoY-44.5%	732M YoY-73.4%	2.75B YoY-43.5%	4.87B YoY+99.9%	2.44B YoY+1460.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	48.9B YoY+9.0%	44.8B YoY-20.4%	56.3B YoY+3.3%	54.5B YoY+38.5%	39.4B YoY+46.4%
P/E	12.1× YoY-7.2%	13.0× YoY+153.4%	5.1× YoY+5.9%	4.8× YoY+19.9%	4.0×
P/S	0.4× YoY+14.1%	0.3× YoY-17.3%	0.4× YoY+16.4%	0.3× YoY+2.2%	0.3× YoY-14.9%
P/B	2.8× YoY+11.8%	2.5× YoY+10.1%	2.3× YoY+4.0%	2.2× YoY+46.8%	1.5× YoY+24.0%
P/FCF	10.3× YoY+40.3%	7.3× YoY+88.5%	3.9× YoY-9.9%	4.3× YoY-68.3%	13.6×
Earnings yield	8.3% YoY+7.7%	7.7% YoY-60.5%	19.5% YoY-5.6%	20.6% YoY-16.6%	24.7%
FCF yield	9.8% YoY-28.7%	13.7% YoY-46.9%	25.8% YoY+11.0%	23.2% YoY+215.9%	7.4%
Dividend yield	2.3% YoY-5.5%	2.4% YoY+17.1%	2.1% YoY-3.1%	2.1% YoY-41.0%	3.6% YoY-35.4%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MPC's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MPC filings on SEC EDGAR → Not investment advice.

MPC▼ financial statements

About this data

financial statements