Marathon Petroleum (MPC) stock
Energy · Oil & Gas Refining & Marketing
Marathon Petroleum (MPC) is an Oil & Gas Refining & Marketing company in the Energy sector, headquartered in Findlay, Ohio. As of October 23, 2026, MPC closed at $457.22, a market capitalization of $128.40 billion, the 96th largest company in the S&P 500. Over the last twelve months it generated $154.15 billion in revenue (+54% year over year) and $12.90 billion in free cash flow. The stock trades at 15.8x trailing earnings and 7.8x forward earnings.
- 1-year total return: +137.2% (dividends reinvested)
- 5-year return: +49.9% a year
- 52-week range: $161.93 – $493.98
- Gross margin 12.8%, operating margin 13.6%
- Dividend yield: 0.87%, 4 straight years of increases
- FI Handbook report card: B across 10 metrics
- 4th largest of 21 Energy stocks in the S&P 500
MPC price chart
1Y price change: +133.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| MPC | +17.7% | +184.4% | +137.2% | +48.1% | +49.9% | +30.2% | +26.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2011.
MPC key statistics
- Market cap
- $128.4B
- #96 in S&P 500
- P/E (TTM)
- 15.8x
- Forward P/E
- 7.8x
- EPS (TTM)
- $28.88
- Revenue (TTM)
- $154.1B
- +54%
- Free cash flow
- $12.9B
- Gross margin
- 12.8%
- Operating margin
- 13.6%
- Return on equity
- 42.1%
- Dividend yield
- 0.87%
- 52-week range
- $161.93 – $493.98
- Beta
- 0.54
- Price / sales
- 0.8x
- EV / EBITDA
- 10.5x
- Debt / equity
- 1.33x
- Employees
- 18,500
MPC report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth53.7%A
- Gross margin12.8%F
- Operating margin13.6%C
- FCF margin8.4%C
- Return on equity42.1%A
- Net debt / EBITDA1.7xC
- Forward P/E7.8xA
- PEG ratio0.9xA
- Shareholder yield3.6%B
- Share count change / yr-14.0%A
Marathon Petroleum financials
Revenue went from $63.3B in fiscal 2016 to $132.7B in fiscal 2025, growing 8.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.3B | $74.7B | $86.1B | $111.1B | $69.8B | $120.0B | $177.5B | $148.4B | $138.9B | $132.7B |
| Gross profit | $6.6B | $7.6B | $9.0B | $11.9B | $4.0B | $10.0B | $25.8B | $19.8B | $12.6B | $13.3B |
| Operating income | $2.4B | $4.0B | $4.7B | $4.5B | -$12.2B | $4.3B | $21.5B | $14.5B | $6.8B | $8.3B |
| Net income | $1.2B | $3.4B | $2.8B | $2.6B | -$9.8B | $9.7B | $14.5B | $9.7B | $3.4B | $4.0B |
| EPS (diluted) | $2.21 | $6.70 | $5.28 | $3.97 | $-15.13 | $15.24 | $28.12 | $23.63 | $10.08 | $13.22 |
| Free cash flow | $1.1B | $3.9B | $3.0B | $4.6B | -$368.0M | $2.9B | $13.9B | $12.2B | $6.1B | $4.8B |
| Buybacks | $197.0M | $2.4B | $3.3B | $1.9B | $0 | $4.7B | $11.9B | $11.6B | $9.2B | $3.5B |
| Dividends paid | $719.0M | $773.0M | $954.0M | $1.4B | $1.5B | $1.5B | $1.3B | $1.3B | $1.2B | $1.1B |
| Diluted shares | 530.0M | 512.0M | 526.0M | 664.0M | 649.0M | 638.0M | 516.0M | 409.0M | 341.0M | 306.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into MPC?
A reverse DCF asks what growth the current price requires. With an enterprise value of $154.9B and $12.9B of trailing free cash flow, Marathon Petroleum needs to grow free cash flow about -1.9% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 34.6x vs. median 9.7x (10th–90th percentile 6.0x–22.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
MPC dividend
- Dividend yield
- 0.87%
- Annual dividend
- $4.00
- Years of increases
- 4
- 5-yr dividend growth
- 10.0%
- per year
- Payout ratio
- 14%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
MPC analyst price targets
18 analysts' average 12-month target is $458.72 (+0% vs. $457.22). Targets range from $236.00 to $560.00. 47% rate it a buy.
MPC earnings
Next report: November 3, 2026. Marathon Petroleum has beaten EPS estimates 3 quarters in a row. Last quarter's revenue was $52.0B (+54% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 4, 2026 | $13.95 | $17.73 | +27.1% |
| May 5, 2026 | $0.75 | $1.65 | +120.6% |
| Feb 3, 2026 | $2.71 | $4.07 | +50.1% |
| Nov 4, 2025 | $3.16 | $3.01 | -4.9% |
| Aug 5, 2025 | $3.22 | $3.96 | +23.0% |
| May 6, 2025 | $-0.54 | $-0.24 | +55.8% |
| Feb 4, 2025 | $0.02 | $0.77 | +3730.8% |
| Nov 5, 2024 | $1.09 | $1.87 | +71.9% |
Stocks like MPC
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 VLO Valero Energy | -1.64% | +147% | $120.7B | 9.5x | Compare |
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 XOM ExxonMobil | +2.79% | +63% | $753.3B | 23.6x | Compare |
 CVX Chevron | +2.88% | +55% | $457.5B | 22.4x | Compare |
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 SLB SLB | +7.08% | +51% | $78.3B | 25.6x | Compare |
MPC news
- Marathon Petroleum (MPC): Position Exited After Strong Gains · Oct 23, 2026
- Will the Bank of England raise UK interest rates in 2026? · Oct 23, 2026
- Marathon Petroleum (MPC) Stock Falls Amid Market Uptick: What Investors Need to Know · Oct 21, 2026
- Cognite Earns Corporate Supplier of the Year Award from Marathon Petroleum Corporation · Oct 21, 2026
- If You Invested $1000 in Marathon Petroleum a Decade Ago, This is How Much It'd Be Worth Now · Oct 21, 2026
MPC stock FAQ
What is MPC's market cap?
Marathon Petroleum's market capitalization is $128.40 billion as of October 23, 2026, ranking 96th in the S&P 500.
What is MPC's P/E ratio?
MPC trades at a trailing price-to-earnings ratio of 15.8x and a forward P/E of 7.8x. Its median P/E over the period we track is 9.7x.
Does MPC pay a dividend?
Yes. Marathon Petroleum pays $4.00 per share a year, a 0.87% yield. It has raised its dividend 4 years in a row. Dividends grew 10.0% a year over the last five years.
How much has MPC stock returned?
Including reinvested dividends, MPC returned +137.2% over one year, +49.9% a year over five years, +30.2% a year over ten years through October 23, 2026.
Is MPC stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Marathon Petroleum must grow free cash flow about -2% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the MPC price target?
18 analysts cover MPC with an average 12-month price target of $458.72, +0% from the current price. 47% of them rate it a buy.
When does MPC report earnings?
Marathon Petroleum is expected to report earnings on November 3, 2026. It has beaten EPS estimates 3 quarters in a row.
How many employees does Marathon Petroleum have?
Marathon Petroleum has about 18,500 full-time employees, or $8.3 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology