Marathon Pete Corp Financials
This page shows Marathon Pete Corp (MPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
MPC’s model is cash-generative but margin-sensitive, with shareholder payouts increasingly leaning on a more leveraged balance sheet.
From FY2022 through FY2025, cash returns to shareholders of$41.0B exceeded cumulative net income of$31.7B , which helps explain why equity kept shrinking even while the company stayed profitable. That capital-allocation choice, more than an inability to produce cash, is what pushed debt-to-equity from 0.9x to 1.8x over the same span.
Even after the recent earnings reset, cash conversion remained better than headline profit implies: FY2025 operating cash flow was
The recent pattern looks like a margin business more than a volume business: revenue fell again in FY2025, yet operating margin improved to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Marathon Pete Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Marathon Pete Corp has an operating margin of 6.3%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is up from 4.9% the prior year.
Marathon Pete Corp's revenue declined 4.4% year-over-year, from $138.9B to $132.7B. This contraction results in a growth score of 24/100.
Marathon Pete Corp carries a low D/E ratio of 1.76, meaning only $1.76 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 66/100, indicating a strong balance sheet with room for future borrowing.
Marathon Pete Corp's current ratio of 1.26 is below the typical benchmark, resulting in a score of 20/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Marathon Pete Corp has a free cash flow margin of 3.6%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.
Marathon Pete Corp earns a strong 23.4% return on equity (ROE), meaning it generates $23 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is up from 19.4% the prior year.
Marathon Pete Corp scores 3.40, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Marathon Pete Corp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Marathon Pete Corp generates $2.04 in operating cash flow ($8.3B OCF vs $4.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Marathon Pete Corp earns $5.6 in operating income for every $1 of interest expense ($8.3B vs $1.5B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Marathon Pete Corp generated $132.7B in revenue in fiscal year 2025. This represents a decrease of 4.4% from the prior year.
Marathon Pete Corp's EBITDA was $11.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.9% from the prior year.
Marathon Pete Corp reported $4.0B in net income in fiscal year 2025. This represents an increase of 17.5% from the prior year.
Marathon Pete Corp earned $13.22 per diluted share (EPS) in fiscal year 2025. This represents an increase of 31.2% from the prior year.
Cash & Balance Sheet
Marathon Pete Corp generated $4.8B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 22.3% from the prior year.
Marathon Pete Corp held $3.7B in cash against $30.5B in long-term debt as of fiscal year 2025.
Marathon Pete Corp paid $3.73 per share in dividends in fiscal year 2025. This represents an increase of 10.2% from the prior year.
Margins & Returns
Marathon Pete Corp's gross margin was 10.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.9 percentage points from the prior year.
Marathon Pete Corp's operating margin was 6.3% in fiscal year 2025, reflecting core business profitability. This is up 1.4 percentage points from the prior year.
Marathon Pete Corp's net profit margin was 3.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.6 percentage points from the prior year.
Marathon Pete Corp's ROE was 23.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.0 percentage points from the prior year.
Capital Allocation
Marathon Pete Corp spent $3.5B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 62.0% from the prior year.
Marathon Pete Corp invested $3.5B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 37.6% from the prior year.
MPC Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34.2B+5.0% | $32.6B-6.4% | $34.8B+3.0% | $33.8B+7.2% | $31.5B-4.9% | $33.1B-5.6% | $35.1B-7.4% | $37.9B |
| Cost of Revenue | $31.3B+8.3% | $28.9B-7.5% | $31.2B+3.9% | $30.0B+2.3% | $29.4B-3.9% | $30.6B-4.9% | $32.1B-5.3% | $33.9B |
| Gross Profit | $2.9B-20.8% | $3.7B+2.9% | $3.6B-4.4% | $3.8B+75.0% | $2.2B-16.4% | $2.6B-13.0% | $3.0B-25.3% | $4.0B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $867.0M+3.7% | $836.0M-3.1% | $863.0M-0.5% | $867.0M+10.7% | $783.0M-2.6% | $804.0M-1.3% | $815.0M-1.0% | $823.0M |
| Operating Income | $1.4B-47.9% | $2.7B-0.7% | $2.7B+23.5% | $2.2B+219.8% | $687.0M-39.8% | $1.1B-15.4% | $1.3B-46.5% | $2.5B |
| Interest Expense | $420.0M+2.4% | $410.0M+11.4% | $368.0M+2.5% | $359.0M+2.0% | $352.0M+6.3% | $331.0M-6.0% | $352.0M+3.2% | $341.0M |
| Income Tax | $183.0M-50.8% | $372.0M-19.1% | $460.0M+71.6% | $268.0M+624.3% | $37.0M-66.7% | $111.0M-1.8% | $113.0M-69.7% | $373.0M |
| Net Income | $511.0M-66.7% | $1.5B+12.0% | $1.4B+12.7% | $1.2B+1743.2% | -$74.0M-119.9% | $371.0M-40.4% | $622.0M-58.9% | $1.5B |
| EPS (Diluted) | $1.73 | N/A | $4.51+13.9% | $3.96+1750.0% | $-0.24 | N/A | $1.87-56.8% | $4.33 |
MPC Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $88.2B+5.0% | $84.0B+0.9% | $83.2B+6.1% | $78.5B-3.9% | $81.6B+3.5% | $78.9B-1.2% | $79.8B-6.3% | $85.2B |
| Current Assets | $28.7B+15.8% | $24.8B+0.6% | $24.6B+3.8% | $23.7B-12.6% | $27.1B+11.0% | $24.4B-5.8% | $25.9B-17.2% | $31.3B |
| Cash & Equivalents | $2.2B-41.4% | $3.7B+38.4% | $2.7B+58.6% | $1.7B-56.1% | $3.8B+18.8% | $3.2B-19.8% | $4.0B-9.9% | $4.4B |
| Inventory | $10.8B+6.3% | $10.1B+3.1% | $9.8B-2.7% | $10.1B-3.6% | $10.5B+9.6% | $9.6B-3.2% | $9.9B+0.9% | $9.8B |
| Accounts Receivable | $14.6B+41.8% | $10.3B-1.6% | $10.5B-5.8% | $11.1B-8.1% | $12.1B+8.7% | $11.1B+9.5% | $10.2B-17.3% | $12.3B |
| Goodwill | $9.3B-0.2% | $9.4B+0.2% | $9.3B+13.2% | $8.2B0.0% | $8.2B0.0% | $8.2B0.0% | $8.2B0.0% | $8.2B |
| Total Liabilities | $64.8B+8.2% | $59.9B+0.9% | $59.4B+7.5% | $55.2B-5.7% | $58.6B+7.8% | $54.4B+0.4% | $54.1B-5.3% | $57.1B |
| Current Liabilities | $24.4B+24.1% | $19.7B+5.1% | $18.7B-2.7% | $19.3B-15.3% | $22.7B+9.1% | $20.8B-1.1% | $21.1B-12.2% | $24.0B |
| Long-Term Debt | $30.7B+0.7% | $30.5B-2.3% | $31.2B+16.4% | $26.8B0.0% | $26.8B+9.9% | $24.4B+1.6% | $24.1B+0.1% | $24.0B |
| Total Equity | $16.8B-3.2% | $17.3B+1.3% | $17.1B+2.8% | $16.6B+1.4% | $16.4B-7.6% | $17.7B-6.3% | $18.9B-11.2% | $21.3B |
| Retained Earnings | $40.0B+0.5% | $39.8B+3.2% | $38.5B+2.9% | $37.4B+2.6% | $36.5B-1.0% | $36.8B+0.2% | $36.8B+1.0% | $36.4B |
MPC Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B-63.5% | $3.1B+17.6% | $2.6B-1.1% | $2.6B+4223.4% | -$64.0M-102.9% | $2.2B+31.1% | $1.7B-48.1% | $3.2B |
| Capital Expenditures | $913.0M-22.7% | $1.2B+24.7% | $947.0M+36.3% | $695.0M+4.8% | $663.0M-18.1% | $810.0M+24.4% | $651.0M+33.7% | $487.0M |
| Free Cash Flow | $208.0M-89.0% | $1.9B+13.6% | $1.7B-14.5% | $1.9B+367.4% | -$727.0M-152.0% | $1.4B+35.2% | $1.0B-62.5% | $2.8B |
| Investing Cash Flow | -$1.0B-389.3% | -$214.0M+94.3% | -$3.8B-285.6% | -$974.0M-5.5% | -$923.0M-400.7% | $307.0M-84.9% | $2.0B+11864.7% | $17.0M |
| Financing Cash Flow | -$1.6B+13.1% | -$1.8B-186.3% | $2.1B+155.9% | -$3.8B-339.4% | $1.6B+148.0% | -$3.3B+20.4% | -$4.2B-108.6% | -$2.0B |
| Dividends Paid | $295.0M-1.7% | $300.0M+8.7% | $276.0M-1.1% | $279.0M-2.1% | $285.0M-2.4% | $292.0M+7.0% | $273.0M-5.9% | $290.0M |
| Share Buybacks | $750.0M-25.1% | $1.0B+54.0% | $650.0M-16.7% | $780.0M-26.2% | $1.1B-23.1% | $1.4B-49.1% | $2.7B-6.7% | $2.9B |
MPC Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.6%-2.8pp | 11.4%+1.0pp | 10.4%-0.8pp | 11.2%+4.3pp | 6.8%-0.9pp | 7.8%-0.7pp | 8.4%-2.0pp | 10.5% |
| Operating Margin | 4.1%-4.2pp | 8.3%+0.5pp | 7.8%+1.3pp | 6.5%+4.3pp | 2.2%-1.3pp | 3.4%-0.4pp | 3.8%-2.8pp | 6.7% |
| Net Margin | 1.5%-3.2pp | 4.7%+0.8pp | 3.9%+0.3pp | 3.6%+3.8pp | -0.2%-1.4pp | 1.1%-0.7pp | 1.8%-2.2pp | 4.0% |
| Return on Equity | 3.0%-5.8pp | 8.9%+0.9pp | 8.0%+0.7pp | 7.3%+7.8pp | -0.4%-2.5pp | 2.1%-1.2pp | 3.3%-3.8pp | 7.1% |
| Return on Assets | 0.6%-1.3pp | 1.8%+0.2pp | 1.7%+0.1pp | 1.6%+1.6pp | -0.1%-0.6pp | 0.5%-0.3pp | 0.8%-1.0pp | 1.8% |
| Current Ratio | 1.18-0.1 | 1.26-0.1 | 1.32+0.1 | 1.23+0.0 | 1.19+0.0 | 1.17-0.1 | 1.23-0.1 | 1.31 |
| Debt-to-Equity | 1.83+0.1 | 1.76-0.1 | 1.83+0.2 | 1.61-0.0 | 1.64+0.3 | 1.38+0.1 | 1.27+0.1 | 1.13 |
| FCF Margin | 0.6%-5.2pp | 5.8%+1.0pp | 4.8%-1.0pp | 5.8%+8.1pp | -2.3%-6.5pp | 4.2%+1.3pp | 2.9%-4.3pp | 7.3% |
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Frequently Asked Questions
What is Marathon Pete Corp's annual revenue?
Marathon Pete Corp (MPC) reported $132.7B in total revenue for fiscal year 2025. This represents a -4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Marathon Pete Corp's revenue growing?
Marathon Pete Corp (MPC) revenue declined by 4.4% year-over-year, from $138.9B to $132.7B in fiscal year 2025.
Is Marathon Pete Corp profitable?
Yes, Marathon Pete Corp (MPC) reported a net income of $4.0B in fiscal year 2025, with a net profit margin of 3.0%.
What is Marathon Pete Corp's EBITDA?
Marathon Pete Corp (MPC) had EBITDA of $11.5B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Marathon Pete Corp have?
As of fiscal year 2025, Marathon Pete Corp (MPC) had $3.7B in cash and equivalents against $30.5B in long-term debt.
What is Marathon Pete Corp's gross margin?
Marathon Pete Corp (MPC) had a gross margin of 10.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Marathon Pete Corp's operating margin?
Marathon Pete Corp (MPC) had an operating margin of 6.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Marathon Pete Corp's net profit margin?
Marathon Pete Corp (MPC) had a net profit margin of 3.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Marathon Pete Corp pay dividends?
Yes, Marathon Pete Corp (MPC) paid $3.73 per share in dividends during fiscal year 2025.
What is Marathon Pete Corp's return on equity (ROE)?
Marathon Pete Corp (MPC) has a return on equity of 23.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Marathon Pete Corp's free cash flow?
Marathon Pete Corp (MPC) generated $4.8B in free cash flow during fiscal year 2025. This represents a -22.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Marathon Pete Corp's operating cash flow?
Marathon Pete Corp (MPC) generated $8.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Marathon Pete Corp's total assets?
Marathon Pete Corp (MPC) had $84.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Marathon Pete Corp's capital expenditures?
Marathon Pete Corp (MPC) invested $3.5B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Marathon Pete Corp's current ratio?
Marathon Pete Corp (MPC) had a current ratio of 1.26 as of fiscal year 2025, which is considered adequate.
What is Marathon Pete Corp's debt-to-equity ratio?
Marathon Pete Corp (MPC) had a debt-to-equity ratio of 1.76 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Marathon Pete Corp's return on assets (ROA)?
Marathon Pete Corp (MPC) had a return on assets of 4.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Marathon Pete Corp's Altman Z-Score?
Marathon Pete Corp (MPC) has an Altman Z-Score of 3.40, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Marathon Pete Corp's Piotroski F-Score?
Marathon Pete Corp (MPC) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Marathon Pete Corp's earnings high quality?
Marathon Pete Corp (MPC) has an earnings quality ratio of 2.04x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Marathon Pete Corp cover its interest payments?
Marathon Pete Corp (MPC) has an interest coverage ratio of 5.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Marathon Pete Corp?
Marathon Pete Corp (MPC) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.