Income StatementBalance SheetCash FlowSegments
Marathon Petroleum logo

Marathon Petroleum Cash Flow Statement

Operating, investing, and financing cash movements

Marathon Petroleum generated $9.4B in operating cash flow over the trailing twelve months. After $3.7B in capital expenditures, free cash flow was $5.7B. Free cash flow increased 0.3% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$9.4BNet Cash From Investing (TTM)-$6.0BNet Cash From Financing (TTM)-$9.7BCapital Expenditures (TTM)$3.7BDepreciation And Amortization Cf (TTM)$3.3B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$74.3B
P/E Ratio16.05
ROE27.95%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from Sales of Business Affiliate and Productive Assets$31.0M$1.0M$17.0M$2.0M$985.0M$5.0M
Acquisitions, net of cash acquired$66.0M$237.0M—$3.1B—-$14.0M
Capital expenditures$810.0M$663.0M$695.0M$947.0M$1.2B$913.0M
Payment for (Proceeds from) Other Investing Activity-$49.0M-$87.0M-$21.0M-$90.0M-$75.0M-$149.0M
Payments to Acquire Equity Method Investments$127.3M$266.0M$266.0M$266.0M$266.0M—
Payments to Acquire Interest in Joint Venture—$132.0M$356.0M$333.0M—$302.0M
Divestitures and asset sales$31.0M$1.0M$17.0M$2.0M$985.0M$5.0M
Net cash from investing activities$307.0M-$923.0M-$974.0M-$3.8B-$214.0M-$1.0B
Dividend Received from Consumer Healthcare JV$20.0M$21.0M$39.0M$511.0M$150.0M$0.0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from commercial paper notes$0.0$0.0$5.1B——$3.9B
Proceeds from Commercial Paper$0.0$0.0$5.1B——$3.9B
Dividends paid$292.0M$285.0M$279.0M$276.0M$300.0M$295.0M
Payments for Repurchase of Other Equity$100.0M$100.0M$100.0M$100.0M$100.0M$50.0M
Payments Of Debt Issuance Costs$0.0$36.0M$2.0M$42.0M$0.0$15.0M
Payments to Noncontrolling Interests$372.0M$370.0M$368.0M$366.0M$409.0M$407.0M
Proceeds from Issuance of Commercial Paper$0.0$0.0$5.1B——$3.9B
Proceeds from new debt$0.0$4.4B$1.6B$5.2B$0.0$1.5B
Other, net-$2.0M-$28.0M$0.0-$1.0M-$1.0M-$31.0M
Repayment of commercial paper$0.0$0.0$4.8B$210.0M$0.0$3.9B
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security$1.2B$930.0M$4.0B$1.5B$25.0M$1.5B
Payment of Deferred Purchase Consideration-$2.0M-$28.0M$0.0-$1.0M-$1.0M-$31.0M
Noncontrolling interest transactions and other-$2.0M-$28.0M$0.0-$1.0M-$1.0M-$31.0M
Net cash from financing activities-$3.3B$1.6B-$3.8B—-$1.8B-$1.6B
Noncontrolling Interests Activity and Other-$2.0M-$28.0M$0.0-$1.0M-$1.0M-$31.0M
Proceeds from issuance of common stock$6.0M$23.0M—$1.0M—$1.0M
Repurchases of common stock$1.4B$1.1B$780.0M$650.0M$1.0B$750.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M
Change in accounts payable—$788.0M-$1.3B-$689.0M—$4.7B
Change in accounts receivable—$928.0M-$989.0M-$645.0M-$184.0M$4.3B
Change in inventories—$920.0M——$311.0M$635.0M
Other working capital changes-$33.0M-$125.0M—$60.0M-$188.0M-$147.0M
Deferred income taxes$0.0-$28.0M-$30.0M$309.0M$31.0M$19.0M
Depreciation and amortization$826.0M$793.0M$789.0M$841.0M$828.0M$809.0M
Pension and Other Postretirement Benefits Expense Reversal$41.0M$15.0M$52.0M-$103.0M$52.0M$55.0M
Income (Loss) from Equity Method Investments$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M
Income (Loss) from Equity Method Investments$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M
Income (Loss) from Equity Method Investments$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M
Net cash from operating activities$2.2B-$64.0M$2.6B$2.6B$3.1B$1.1B
Net income$785.0M$346.0M$1.6B$1.9B$2.0B$851.0M
Non-cash interest expense—$12.0M$9.0M$9.0M$9.0M$10.0M
Distributions of earnings from equity method investees$333.0M$227.0M$328.0M$302.0M$398.0M$273.0M
Equity in earnings (losses) of equity method investees$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M
Pension and other postretirement income$41.0M$15.0M$52.0M-$103.0M$52.0M$55.0M
Unrealized Gain (Loss) on Derivatives and Commodity Contracts-$24.0M$16.0M$38.0M——$318.0M
Income (Loss) from Equity Method Investments$252.0M$230.0M$212.0M$976.0M$204.0M$176.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net Change in Cash Excluding Exchange Rate Effect-$793.0M$602.0M-$2.1B$980.0M$1.0B-$1.5B
Net Change in Cash Excluding FX Effect-$793.0M$602.0M-$2.1B$980.0M$1.0B-$1.5B
Net Change in Cash Excluding Exchange Rate Effect-$793.0M$602.0M-$2.1B$980.0M$1.0B-$1.5B

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$1.4B-$727.0M$1.9B$1.7B$1.9B$208.0M