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Marathon Petroleum MPC Q3 2025 earnings

Reported November 4, 2025 · Before market open

Revenue$34.8BBeat by $1.4B
EPS$3.01Miss by $0.14
Revenue estimate$33.5B
EPS estimate$3.15

Next report

Nov 3, 2026 (in a month)
Revenue estimate$46.2B
EPS estimate$23.15

Financials

Q3 2025

Income statement

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Revenue$34.8B-0.8%
Gross profit$3.6B+21.8%
Operating income$2.7B+101%
Net income$1.4B+120%
EPS (diluted)$4.51+141%

Balance sheet

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Cash & equivalents$2.7B-33.7%
Total debt$1.4B+15.6%
Total equity$17.1B-9.7%
Total assets$83.2B+4.3%

Cash flow

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Operating cash flow$2.6B+54.9%
CapEx$947.0M+45.5%
Free cash flow$1.7B+60.9%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$58.6B+3.1%
Enterprise value$57.3B+6.1%
P/E20.3×+7.8×
P/S0.4×0.0×

Profitability

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Gross margin9.1%-0.6pp
Operating margin5.1%-0.6pp
Net margin2.2%-1.0pp
FCF margin3.2%-0.5pp

Returns & leverage

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Return on equity16%-4.2pp
Debt / equity0.1×0.0×
Current ratio1.3×+0.1×

Segments

By segment

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Refining & Marketing$32.7B-2.1%
Midstream$2.9B+4.6%
Renewable Diesel$716.0M+48.9%

By product

See full
Refined products$31.8B-0.4%
Services and other$1.5B+5.3%

FAQ

When did Marathon Petroleum report Q3 2025 earnings?
Marathon Petroleum (MPC) reported Q3 2025 earnings on November 4, 2025 before market open.
What were Marathon Petroleum's Q3 2025 revenue and EPS?
Marathon Petroleum reported revenue of $34.8B and eps of $3.01 for Q3 2025.
Did Marathon Petroleum beat estimates in Q3 2025?
Revenue beat the consensus estimate of $33.5B by $1.4B. EPS missed the consensus estimate of $3.15 by $0.14.
How did Marathon Petroleum's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.6% from $35.4B a year earlier and eps grew 61.0% from $1.87.
Where can I find Marathon Petroleum's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001510295-25-000065) and the 10-Q periodic report (0001510295-25-000064) directly on SEC EDGAR. The filing index links above go to sec.gov.