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Marathon Petroleum MPC Midstream — D&A

Other segment segments

Refining & Marketing
$387M-4.7%
Renewable Diesel
$16M-11.1%

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Other financials

Income statement

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Revenue$52.0B+53.8%
Gross profit$8.9B+137%
Operating income$7.3B+233%
Net income$5.1B+323%
EPS (diluted)$17.73+348%

Balance sheet

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Cash & equivalents$7.8B+364%
Total debt$32.8B+2,276%
Total equity$16.8B+2.2%
Total assets$88.2B+8.0%

Cash flow

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Operating cash flow$1.1B+1,852%
CapEx$913.0M+37.7%
Free cash flow$208.0M+129%

Valuation

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Market cap$83.62B+69.3%
Enterprise value$82.97B+121%
P/E9.8×-13.4×
P/S0.5×+0.2×

Profitability

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Gross margin12.5%+3.9pp
Operating margin9.2%+5.2pp
Net margin5.6%+4.0pp
FCF margin4.2%+1.0pp

Returns & leverage

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Return on equity27.9%+15.6pp
Debt / equity0.1×0.0×
Current ratio1.2×0.0×

Where this comes from

Reported directly by Marathon Petroleum in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The source filing: Marathon Petroleum’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 1:03 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001510295-26-000042
(Millions of dollars)Three Months Ended March 31, 2026Three Months Ended March 31, 2025
Depreciation and amortization
Refining & Marketing$387$406
Midstream382351
Renewable Diesel(a)1618
Total segment depreciation and amortization785775
Corporate2418
Consolidated depreciation and amortization$809$793
Pro-rata share of Renewable Diesel JV depreciation and amortization$22$22

Item 1. Financial Statements

FAQ

What is Marathon Petroleum's midstream — D&A?
Marathon Petroleum (MPC) reported midstream — D&A of $382M in Q1 2026.
How has Marathon Petroleum's midstream — D&A changed year-over-year?
Marathon Petroleum's midstream — D&A increased by 8.8% year-over-year, from $351M to $382M.
What is the long-term trend for Marathon Petroleum's midstream — D&A?
Over 4 years (2021 to 2025), Marathon Petroleum's midstream — D&A has grown at a 2.2% compound annual growth rate (CAGR), from $1.33B to $1.45B.
What does midstream — D&A mean?
The systematic allocation of the cost of tangible midstream assets, such as pipelines and storage tanks, over their useful lives. It represents the non-cash consumption of capital assets used to generate midstream revenue.

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