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Marathon Petroleum MPC Q4 2025 Annual earnings

Reported February 3, 2026 · Before market open

Revenue$33.4BBeat by $2.3B
EPS$4.07Beat by $1.35
Revenue estimate$31.1B
EPS estimate$2.72

Next report

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

Financials

Q4 2025

Income statement

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Revenue$32.6B-1.7%
Gross profit$3.7B+44.0%
Operating income$2.7B+136%
Net income$1.5B+314%
EPS (diluted)$5.07+306%

Balance sheet

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Cash & equivalents$3.7B+14.4%
Total debt$2.2B+8.8%
Total equity$17.3B-2.4%
Total assets$84.0B+6.5%

Cash flow

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Operating cash flow$3.1B+39.1%
CapEx$1.2B+45.8%
Free cash flow$1.9B+35.1%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$48.89B+9.0%
Enterprise value$47.39B+8.6%
P/E12.1×-0.9×
P/S0.4×0.0×

Profitability

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Gross margin10%+0.9pp
Operating margin6.2%+1.4pp
Net margin3%+0.6pp
FCF margin3.6%-0.8pp

Returns & leverage

See full
Return on equity23.1%+6.7pp
Debt / equity0.1×0.0×
Current ratio1.3×+0.1×

Segments

By segment

See full
Refining & Marketing$30.3B-2.8%
Midstream$2.9B+0.7%
Renewable Diesel$855.0M+40.9%

By product

See full
Refined products$29.9B-0.7%
Services and other$1.4B-0.1%

FAQ

When did Marathon Petroleum report Q4 2025 earnings?
Marathon Petroleum (MPC) reported Q4 2025 earnings on February 3, 2026 before market open.
What were Marathon Petroleum's Q4 2025 revenue and EPS?
Marathon Petroleum reported revenue of $33.4B and eps of $4.07 for Q4 2025.
Did Marathon Petroleum beat estimates in Q4 2025?
Revenue beat the consensus estimate of $31.1B by $2.3B. EPS beat the consensus estimate of $2.72 by $1.35.
How did Marathon Petroleum's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 0.1% from $33.5B a year earlier and eps grew 428.6% from $0.77.
Where can I find Marathon Petroleum's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001510295-26-000003) and the 10-K periodic report (0001510295-26-000009) directly on SEC EDGAR. The filing index links above go to sec.gov.