What is Marathon Petroleum's refining & marketing — adjusted ebitda?

Marathon Petroleum (MPC) reported refining & marketing — adjusted ebitda of $2.00B in Q4 2025.

How has Marathon Petroleum's refining & marketing — adjusted ebitda changed year-over-year?

Marathon Petroleum's refining & marketing — adjusted ebitda increased by 148.4% year-over-year, from $804.00M to $2.00B.

What is the long-term trend for Marathon Petroleum's refining & marketing — adjusted ebitda?

Over 4 years (2021 to 2025), Marathon Petroleum's refining & marketing — adjusted ebitda has grown at a 14.9% compound annual growth rate (CAGR), from $3.52B to $6.14B.

What does refining & marketing — adjusted ebitda mean?

A measure of the refining and marketing segment's core operating profitability excluding non-cash and non-operating charges.

Business Segments · Adjusted EBITDA

Refining & Marketing — Adjusted EBITDA

Marathon Petroleum Refining & Marketing — Adjusted EBITDA increased by 13.3% to $2.00B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 148.4%, from $804.00M to $2.00B. Over 4 years (FY 2021 to FY 2025), Refining & Marketing — Adjusted EBITDA shows an upward trend with a 14.9% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.

Analysis

StatementSegment

CategoryProfitability

SignalHigher is better

VolatilityVolatile

First reportedQ1 2020

Last reportedQ4 2025

How to read this metric

An increase indicates stronger operational performance and higher cash flow generation from refining activities, while a decrease suggests margin compression or operational inefficiencies.

Detailed definition

This metric represents the earnings of the refining and marketing segment before interest, taxes, depreciation, and amor...

Peer comparison

Commonly reported by integrated oil and gas companies as 'Segment EBITDA' or 'Operating Segment Earnings'.

Metric ID: mpc_segment_refining_marketing_adjusted_ebitda

Historical Data

19 periods

	Q2 '21	Q3 '21	Q4 '21	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25
Value	$751.00M	$1.20B	$1.55B	$1.37B	$7.76B	$5.50B	$4.63B	$3.85B	$3.16B	$4.37B	$2.16B	$1.87B	$1.97B	$1.05B	$804.00M	$489.00M	$1.89B	$1.76B	$2.00B
QoQ Change	—	+59.1%	+29.6%	-11.3%	+464.8%	-29.2%	-15.7%	-16.8%	-17.9%	+38.3%	-50.6%	-13.3%	+5.2%	-46.6%	-23.6%	-39.2%	+286.5%	-6.8%	+13.3%
YoY Change	—	—	—	—	+933.3%	+359.9%	+199.0%	+180.4%	-59.2%	-20.4%	-53.3%	-51.4%	-37.7%	-75.9%	-62.8%	-73.9%	-4.2%	+67.3%	+148.4%

Range$489.00M – $7.76B

CAGR+24.3%

Avg YoY Growth+96.6%

Median YoY Growth-20.4%

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Frequently Asked Questions

What is Marathon Petroleum's refining & marketing — adjusted ebitda?: Marathon Petroleum (MPC) reported refining & marketing — adjusted ebitda of $2.00B in Q4 2025.
How has Marathon Petroleum's refining & marketing — adjusted ebitda changed year-over-year?: Marathon Petroleum's refining & marketing — adjusted ebitda increased by 148.4% year-over-year, from $804.00M to $2.00B.
What is the long-term trend for Marathon Petroleum's refining & marketing — adjusted ebitda?: Over 4 years (2021 to 2025), Marathon Petroleum's refining & marketing — adjusted ebitda has grown at a 14.9% compound annual growth rate (CAGR), from $3.52B to $6.14B.
What does refining & marketing — adjusted ebitda mean?: A measure of the refining and marketing segment's core operating profitability excluding non-cash and non-operating charges.