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Marathon Petroleum MPC Renewable Diesel — Equity Method Investments

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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$92.39B+79.1%
Enterprise value$91.74B+129%
P/E10.8×-13.4×
P/S0.6×+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:EquityMethodInvestments.

The source filing: Marathon Petroleum’s 10-K, filed February 26, 2026.

Filed
Feb 26, 2026, 1:30 PM EST
Fiscal year
FY2025
Accession
0001510295-26-000009
(In millions of dollars, except ownership percentages)VIEOwnership as of / December 31, 2025Carrying value at / December 31, 2025Carrying value at / December 31, 2024
Other(c)X113114
MPC-Retained Total$746$770
Midstream Total$5,544$5,301
Renewable Diesel
Martinez Renewables LLCX50%$1,065$1,184
Other(c)X8890
Renewable Diesel Total$1,153$1,274
Total$6,795$6,857

Item 8. Financial Statements and Supplementary Data

FAQ

What is Marathon Petroleum's renewable diesel — equity method investments?
Marathon Petroleum (MPC) reported renewable diesel — equity method investments of $1.15B in Q4 2025.
What does renewable diesel — equity method investments mean?
This metric represents the share of net income or loss derived from investments in joint ventures or associates within the renewable diesel business segment. It reflects the financial performance of non-consolidated entities that contribute to the company's renewable fuel strategy. Monitoring this helps investors assess the profitability of strategic partnerships and minority-interest projects in the biofuels space.

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