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MPLX MPLX Q4 2025 Annual earnings

Reported February 3, 2026 · Before market open

Revenue$3.3BBeat by $76.9MDiluted EPS$1.17Beat by $0.11
Revenue estimate$3.2B
EPS estimate$1.06

Next report

Aug 4, 2026 (In 3 weeks)
Revenue estimate$3.2B
EPS estimate$1.08

Financials

Q4 2025

Income statement

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Revenue$3.3B+6.2%
Operating income$1.5B+10.4%
Net income$1.2B+8.5%
EPS (diluted)$1.17+9.3%

Balance sheet

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Cash & equivalents$2.1B+40.7%
Total debt$276.0M+3.0%
Total assets$43.0B+14.6%

Cash flow

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Operating cash flow$1.5B-10.7%
CapEx$714.0M+132%
Free cash flow$782.0M-42.8%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$54.28B+11.3%
Enterprise value$52.42B+10.3%
P/E11×-0.2×
P/S4.2×+0.1×

Profitability

See full
Operating margin45.7%+1.4pp
Net margin38.1%+1.6pp
FCF margin31.6%-9.4pp

Returns & leverage

See full
Current ratio1.2×+0.2×

Segments

By segment

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Crude Oil and Products Logistics$1.7B+5.0%
Natural Gas & NGL Services$1.6B+7.4%

By product

See full
Service$1.9B+4.9%

Versus estimates

Revenue

Q1 2026$2.8BMiss by $287.1M
Q4 2025$3.3BBeat by $76.9M
Q3 2025$3.6BBeat by $460.3MQ2 2025$2.8BMiss by $351.0MQ1 2025$2.9BMiss by $276.9MQ4 2024$2.8BMiss by $233.1M

Diluted EPS

Q1 2026$0.90Miss by $0.15
Q4 2025$1.17Beat by $0.11
Q3 2025$1.52Beat by $0.45Q2 2025$1.03Miss by $0.03Q1 2025$1.10In lineQ4 2024$1.07Beat by $0.03

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Questions, answered.

When did MPLX report Q4 2025 earnings?
MPLX (MPLX) reported Q4 2025 earnings on February 3, 2026 before market open.
What were MPLX's Q4 2025 revenue and EPS?
MPLX reported revenue of $3.3B and diluted EPS of $1.17 for Q4 2025.
Did MPLX beat estimates in Q4 2025?
Revenue beat the consensus estimate of $3.2B by $76.9M. EPS beat the consensus estimate of $1.06 by $0.11.
How did MPLX's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 14.5% from $2.8B a year earlier and diluted EPS grew 9.3% from $1.07.
Where can I find MPLX's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001552000-26-000004) and the 10-K periodic report (0001552000-26-000009) directly on SEC EDGAR. The filing index links above go to sec.gov.