Marathon Petroleum Corp

Energy
Integrated oil Companies
www.marathonpetroleum.com

Earnings Score
Moat Score
Safety Score

Market Cap $49.14B
PE 14
Debt $27.48B
Cash $3.21B
EV $73.41B
FCF $6.13B

Earnings

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Sales & Net Margins

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Earnings	$3.44B
EBIT	$6.80B
ROE	14%
ROA	9%
FCF	$6.13B
Equity	$24.30B
Growth Stability	-338%
PE	14.28
PEG	-0.88
PB	2.02
P/FCF	8.01
P/S	0.35
Price/Cash	0.07
Debt/Equity	1.13
Debt/FCF	4.48
Net Margins	2%
Gross Margins	9%
Op. Margins	5%
Earnings CAGR	18%
Sales Growth YoY	-9%
Sales Growth QoQ	-6%
Sales CAGR	11%
FCF CAGR	27%
Equity CAGR	7%
Earnings Stability	0.44
Earnings Growth YoY	-74%
Earnings Growth QoQ	-41%
Earnings CAGR 5Y	-16%

Sales CAGR 5Y	15%
FCF CAGR 5Y	74%
Equity CAGR 5Y	-3%
Earnings CAGR 3Y	-5%
Sales CAGR 3Y	-5%
FCF CAGR 3Y	-23%
Equity CAGR 3Y	-9%
Market Cap	$49.14B
Revenue	$138.86B
Dividend Yield	2%
Payout Ratio	34%
Assets	$78.86B
Total Debt	$27.48B
Cash	$3.21B
Shares Outstanding	340M
EV	73.41B
Earnings Score	58%
Moat Score	82%
Safety Score	53%
Final Score	64%
Working Capital	3.62B
Current Ratio	1.17
Gross Profit	$12.62B
Shares Growth 3y	-18%
Equity Growth QoQ	-5%
Equity Growth YoY	-20%

Assets & ROA

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Stockholders Equity & ROE

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Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, ND, facility produces 184 million gallons a year of renewable diesel. Its Martinez, CA, facility will have the ability to produce 730 million gallons a year of renwable diesel once converted.

SEC Filings

Direct access to Marathon Petroleum Corp (MPC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Marathon Petroleum Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Marathon Petroleum Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 18%

Stability 44%

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Marathon Petroleum Corp Discounted Cash Flow

Fully customizable DCF calculator online for Marathon Petroleum Corp.

Years

Calculation mode

= $404B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$6.1B	$7.8B	$9.9B	$13B	$16B	$20B	$26B	$33B	$41B	$53B	$67B	$667B
DCF		$7.1B	$8.2B	$9.4B	$11B	$13B	$14B	$17B	$19B	$22B	$26B	$257B
Value	$404B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	4%	2%	5%	3%	2%	-14%	8%	8%	7%	2%	2%
ROA	-	5%	8%	6%	6%	-14%	5%	24%	17%	9%	9%
ROE	-	6%	16%	6%	6%	-34%	30%	43%	32%	14%	14%

Bad Net Margins (2.48%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	9.66	3.34	10.67	7.09	-85.83	3.69	1.92	2.23	4.48	4.48
Debt over Equity	0.61	0.52	0.62	0.62	0.68	1.08	0.78	0.78	0.89	1.13	1.13
Growth Stability	-	-	-	100%	100%	-338%	-	100%	100%	30%	-338%

Bad Debt/FCF ratio (4.48)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Neutral Debt/Equity ratio (1.13)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-338%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-12%	17%	29%	29%	-44%	72%	48%	-16%	-6%	15%
Earnings YoY growth	-	-59%	192%	-19%	-5%	-478%	-198%	49%	-33%	-64%	-16%
Equity YoY growth	-	3%	3%	111%	-4%	-31%	12%	5%	-11%	-20%	-3%
FCF YoY growth	-	-47%	254%	-33%	58%	-109%	-2K%	101%	-12%	-50%	74%