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MPLX Income Statement

Revenue, expenses, and profitability over time

MPLX generated $12.9B in trailing twelve-month revenue, up 0.1% year-over-year. Net income was $4.7B with a 36.69% net margin. Based on the Q1 2026 filing.

Total Revenue (TTM)$12.9BOperating Income (TTM)$5.8BNet Income (TTM)$4.7B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$57.3B
P/E Ratio12.10

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Production and delivery—$389M$369M$395M—$402M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income from equity method investments$171M$186M$170M$186M$155M$182M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
General and administrative$104M$112M$107M$126M$101M$114M
Purchased power and fuel—$459M$432M$493M—$498M
Depreciation and amortization$324M$326M$324M$346M$355M$358M
Costs And Expenses Related Party$421M$416M$422M$396M$415M$394M
Total operating expenses$1.7B$1.8B$1.7B$1.8B$1.8B$1.8B

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$1.1B$1.1B$1.1B$1.6B$1.2B$923M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$5M$1M$1M$3M—$1M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$1.1B$1.1B$1.1B$1.6B$1.2B$922M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$1.3B$1.4B$1.3B$1.8B$1.5B$1.2B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent$1.1B$1.1B$1B$1.5B$1.2B$912M
Interest and Debt Expense$229M$229M$234M$243M$277M$291M
Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted$1.07$1.10$1.03$1.52$1.17$0.90
Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax$1.07$1.10$1.03$1.52$1.17$0.90
Sales-type lease selling price$34M$37M$36M$37M$41M$48M
Sales-type lease revenue - related parties$116M$115M$116M$113M$104M$102M
Taxes other than income taxes and other – net$32M$33M$32M$36M$36M$36M
Weighted Average Limited Partnership Units Outstanding Diluted1B1B1B1B1B1B
Weighted Average Limited Partnership Units Outstanding1B1B1B1B1B1B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$3.1B$3.1B$3B$3.6B$3.3B$3B