Marathon Petroleum Corporation (MPC) Stock

Marathon Petroleum Corporation (MPC) is a Energy stock trading at $312.63 (as of 2026-07-17), with a market capitalization of $91.27B and a trailing P/E of 23.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Marathon Petroleum Corporation is an integrated downstream energy company operating in the U.S. through two segments: Refining & Marketing, which refines crude oil and other feedstocks and sells transportation fuels, heavy fuel oil, asphalt, and related products, and Midstream, which transports, stores, distributes, and markets crude oil and refined products and supports natural-gas gathering and processing.

Understand Marathon Petroleum Corporation: how it makes money

Marathon Petroleum refines crude oil and other feedstocks into transportation fuels and other refined products for sale, and it also buys refined products and ethanol for resale, while its midstream business supports logistics and related activities that generate segment earnings.

MPC’s profit model is a two-part system, Refining and Marketing turns crude and other feedstocks into refined products that are sold, while Midstream contributes additional segment earnings tied to moving and supporting those products.

Business quality (Weak): The business description clearly identifies two operating segments (Refining and Marketing, Midstream). The provided data includes total-quarter revenue and margins, and segment adjusted EBITDA candidates, but it does not provide segment revenue numbers to sum to the reported total.

Valuation: At 17× earnings, MPC trades in line with the Petroleum & Natural Gas average (17×). Note: one-time items can distort reported P/E.

Bull case

  • Integrated earnings engine across two segments: MPC reports Refining & Marketing and Midstream, so operating results can be supported by more than one business line.
  • Refining plus resale exposure within Refining & Marketing: Refining & Marketing not only refines at its U.S. refineries, it also purchases refined products and ethanol for resale, which can broaden sources of segment earnings.

Bear case

  • Refining economics can be pressured: Because Refining & Marketing converts crude and other feedstocks into products for sale, changes in the relationship between input costs and product sales can reduce segment adjusted EBITDA.
  • Midstream earnings variability: Midstream profitability is reflected in its own segment adjusted EBITDA, so fluctuations in that segment can offset or amplify changes in Refining & Marketing results.
Valuation — source: SEC EDGAR (first-party)
Price$312.63
Market Cap$91.27B
P/E Ratio23.8
EV / EBITDA8.9
Price / Book3.90
Price / Sales0.68
FCF Yield3.9%
DCF Value (model)$425.52
DCF Upside vs Price36.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$132.70B
Net Margin3.0%
Revenue Growth (YoY)-4.4%
EPS Growth (YoY)31.0%
FCF Growth (YoY)-22.3%
Financial Health — source: SEC EDGAR
Altman Z-Score3.57 (safe)
Piotroski F-Score8/9 (strong)
Valuation vs Sector & Industry
Stock P/E23.8
Sector P/E (Energy)19.4
Industry P/E (Petroleum & Natural Gas)19.2
vs Sector22.8%
vs Industry23.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($6.23B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEOMaryann T. Mannen
Employees18,300
CountryUS
IPO Date2011-06-24

Related Companies (Business model: Refining & Midstream Energy; 8 closest by market cap; US-domiciled)

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MPC earnings history · MPC institutional & insider holders · MPC KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.