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Marathon Petroleum
MPCEnergyGenerated Aug 19, 2026, 10:36 PM UTC
MPC (Marathon Petroleum) analytical snapshot. Revenue declined +4.4% YoY to $132.70B. Net margin at 3.05% (contracting ▼). Return on equity 23.37%, ROA 4.82%, ROIC 47.89%. Market cap $101.31B at $360.75 per share. Trailing P/E 27.29, P/S 0.76, P/B 5.31. EV/Operating income ≈ 11.68 (EV $96.85B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -2 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$101.31B
280.82M shares
Price
$360.75
NYQ
P/E (ttm)
27.29
Revenue (FY)
$132.70B
YoY -4.4%
Net margin
3.05%
▼ 5.13pp
Free cash flow
$4.77B
3.59% margin
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 26, 2026. Latest quarterly report (10-Q) filed Aug 4, 2026. 13 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 26, 2026.
- Latest quarterly report (10-Q) filed Aug 4, 2026.
- 13 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Marathon Petroleum; broad institutional reporting.
- Recent filers include Westchester Capital Management, LLC, Westchester Capital Management, LLC, Westchester Capital Management, LLC.
- 15 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 5 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 26, 2026
Annual report
Latest 10-Q
Aug 4, 2026
8-K (recent)
13
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
15
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| Westchester Capital Management, LLC | 13F-HR | Aug 14, 2017 |
| Westchester Capital Management, LLC | 13F-HR | Feb 14, 2020 |
| Westchester Capital Management, LLC | 13F-HR | May 14, 2020 |
| Westchester Capital Management, LLC | 13F-HR | Aug 14, 2020 |
| Westchester Capital Management, LLC | 13F-HR | Nov 14, 2017 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Aug 4, 2026 | 8-K | 8-K |
| Jun 29, 2026 | 8-K | 8-K |
| May 5, 2026 | 8-K | 8-K |
| May 1, 2026 | 8-K | 8-K |
| Apr 13, 2026 | 8-K | 8-K |
| Feb 3, 2026 | 8-K | 8-K |
| Dec 18, 2025 | 8-K | 8-K |
| Nov 4, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -42Deteriorating
68% conf
3 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- Earnings-cash flow divergence: Net income grew +17.5% while operating cash flow declined -4.8%. This divergence may indicate accrual-based earnings inflation — non-cash gains, aggressive revenue recognition, or working capital absorption. The accrual ratio (NI − OCF) is deteriorating.
- Free cash flow deteriorating: FCF declined +22.3% YoY (from $6.13B to $4.77B). With OCF at $8.25B and capex at $3.49B, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
- NEW: Substantial doubt about ability to continue in latest filing: The term "substantial doubt" "ability to continue" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 5 filing(s).
- Operating cash flow exceeds net income: OCF is 2.04x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Substantial doubt about ability to continue.
Revenue
$132.70B
-4.4% YoY
Operating income
$8.29B
+22.0% YoY
Net income
$4.05B
+17.5% YoY
Operating cash flow
$8.25B
-4.8% YoY
Capex
$3.49B
+37.6% YoY
Total assets
$83.95B
+6.5% YoY
Total liabilities
$59.87B
+10.2% YoY
Long-term debt
$279.0M
— YoY
Filing quality score
72/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $138.86B | $132.70B | $-6.17B | -4.4% |
| Operating income | $6.80B | $8.29B | $1.50B | +22.0% |
| Net income | $3.44B | $4.05B | $602.0M | +17.5% |
| Operating cash flow | $8.66B | $8.25B | $-412.0M | -4.8% |
| Capex | $2.53B | $3.49B | $953.0M | +37.6% |
| Total assets | $78.86B | $83.95B | $5.10B | +6.5% |
| Total liabilities | $54.35B | $59.87B | $5.52B | +10.2% |
| Long-term debt | — | $279.0M | — | — |
| Cash & equivalents | $3.21B | $3.67B | $462.0M | +14.4% |
| Stockholders equity | $17.75B | $17.31B | $-431.0M | -2.4% |
| Inventory | $9.57B | $10.13B | $561.0M | +5.9% |
| Accounts receivable | $11.14B | $10.32B | $-828.0M | -7.4% |
| SG&A expense | $3.22B | $3.35B | $128.0M | +4.0% |
| Interest expense | $1.36B | $1.49B | $124.0M | +9.1% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | Depreciation |
| Removed | AmortizationOfIntangibleAssets, AssetRetirementObligationCurrent, AssetRetirementObligationsNoncurrent, AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent, BusinessCombinationAcquisitionRelatedCosts, BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentIncomeTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Substantial doubt about ability to continue | high | 5 | 0 | NEW |
| Impairment charge | medium | 5 | 2 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 1
Watch: 0
Red flags
Positive
Watch
Free previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score -20Deteriorating
80% conf
Revenue declined +4.4% YoY to $132.70B. Net margin at 3.05% (contracting ▼). Return on equity 23.37%, ROA 4.82%, ROIC 47.89%.
- Revenue declined +4.4% YoY to $132.70B.
- Net margin at 3.05% (contracting ▼).
- Return on equity 23.37%, ROA 4.82%, ROIC 47.89%.
- Gross margin 0.00%, operating margin 6.25%.
- Free cash flow margin 3.59% ($4.77B).
- Net income up ▲ +17.5% YoY.
- Debt/equity 0.17, current ratio 1.25, net debt -$4.46B.
- Asset turnover 1.41 — capital efficiency.
Revenue (FY)
$132.70B
YoY -4.4%
Net margin
3.05%
▼ 5.13pp
ROE
23.37%
ROA 4.82%
ROIC
47.89%
EPS (diluted)
$13.22
FY2025
Free cash flow
$4.77B
3.59% margin
Debt / equity
0.17
Cash $7.77B
Current ratio
1.25
Equity $19.08B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2024 | $138.86B | -6.4% | 0.00 | 4.89 | 2.48 | $6.13B | 19.41 |
| 2025 | $132.70B | -4.4% | 0.00 | 6.25 | 3.05 | $4.77B | 23.37 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2011 | $17.84B | — | — | 2.96% |
| Jun 30, 2011 | $20.73B | +31.3% | +16.2% | 3.87% |
| Sep 30, 2011 | $20.61B | +29.7% | -0.6% | 5.50% |
| Mar 31, 2012 | $20.27B | +13.6% | -1.7% | 2.94% |
| Jun 30, 2012 | $20.24B | -2.4% | -0.1% | 4.02% |
| Sep 30, 2012 | $21.05B | +2.1% | +4.0% | 5.82% |
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Valuation Analyst
score -5Stable
95% conf
Market cap $101.31B at $360.75 per share. Trailing P/E 27.29, P/S 0.76, P/B 5.31. EV/Operating income ≈ 11.68 (EV $96.85B).
- Market cap $101.31B at $360.75 per share.
Market cap
$101.31B
280.82M shares
P/E (ttm)
27.29
P/S
0.76
P/B
5.31
EV
$96.85B
Intrinsic (DCF)
$376.48
+4.4% vs price
ProFull breakdown & reasoning locked
Price & Technicals
Technical Analyst
score 65Improving
85% conf
Price $360.75 — uptrend (above 200-DMA); 1-month momentum positive. RSI(14) 71.18 (overbought).
- Price $360.75 — uptrend (above 200-DMA); 1-month momentum positive.
Price
$360.75
NYQ
RSI(14)
71.18
50-DMA
$293.57
200-DMA
$231.07
Volatility (ann.)
34.24%
52w range
$161.93–$367.24
-1.8% from high
ProFull breakdown & reasoning locked
Macro & Rates
Macro Analyst
score 30Improving
80% conf
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.
- Market regime: Risk-on · Supportive.
GDP growth
1.50%
CPI (YoY)
+3.3%
Fed funds
3.63%
10Y yield
4.71%
10Y−2Y
0.46pp
Unemployment
4.10%
ProFull breakdown & reasoning locked
Risk Scorecard
Risk Analyst
score -10Stable
90% conf
Composite risk Moderate. Leverage debt/equity 0.17 (low). Liquidity current ratio 1.25 (adequate).
- Composite risk: Moderate.
Risk level
Moderate
Debt / equity
0.17
Current ratio
1.25
Margin stdev
1.29pp
Cash / assets
8.24%
Liab / assets
72.73%
ProFull breakdown & reasoning locked
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Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Marathon Petroleum is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
15.84
Fed funds
3.63%
CPI YoY
+3.3%
Analytical read
deterministic previewPrice $360.75 — uptrend (above 200-DMA); 1-month momentum positive..
Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow MPC stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
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