What is MPLX's natural gas & NGL services — intangibles, net?

MPLX (MPLX) reported natural gas & NGL services — intangibles, net of $1.35B in Q4 2025.

What does natural gas & NGL services — intangibles, net mean?

This represents the carrying value of intangible assets for the Natural Gas and NGL Services segment, calculated as the gross cost minus accumulated amortization and any impairment losses. It reflects the current book value of these assets on the balance sheet, representing the future economic benefits expected to be derived from these specific intangible holdings. This is a key indicator of the segment's non-physical asset base value.

MPLX MPLX Natural Gas & NGL Services — Intangibles, net

Other segment segments

Crude Oil and Products Logistics

$48M-18.6%

Similar metrics at other companies

EPNatural Gas Pipelines — Other intangibles, net

$884M+6.4%

SPHNatural Gas And Electricity — Goodwill

$7.9M0.0%

EPDNatural Gas Pipelines & Services — Carrying Value

$1.52B-0.3%

FLOCNatural Gas Technologies — Goodwill

$66.33M0.0%

EPDNatural Gas Pipelines & Services — Intangible Amortization

$19M+5.6%

SPHNatural Gas And Electricity — Goodwill Gross

$7.9M0.0%

Other financials

Income statement

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Revenue$3.0B-2.8%

Operating income$1.2B-11.1%

Net income$922.0M-18.8%

EPS (diluted)$0.90-18.2%

Balance sheet

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Cash & equivalents$1.5B-40.6%

Total debt$267.0M-5.3%

Total assets$42.9B+10.2%

Cash flow

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Operating cash flow$1.3B+8.1%

CapEx$575.0M+115%

Free cash flow$772.0M-21.1%

Valuation

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Market cap$56.9B+8.5%

Enterprise value$55.66B+10.9%

P/E12×+0.3×

P/S4.4×+0.1×

Profitability

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Operating margin44.8%+0.6pp

Net margin36.7%0.0pp

FCF margin30.2%-9.4pp

Returns & leverage

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Current ratio1.1×0.0×

Where this comes from

Reported directly by MPLX in its filing.

Tagged under the XBRL concept us-gaap:IntangibleAssetsNetExcludingGoodwill.

The official record: MPLX’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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What is MPLX's natural gas & NGL services — intangibles, net?: MPLX (MPLX) reported natural gas & NGL services — intangibles, net of $1.35B in Q4 2025.
What does natural gas & NGL services — intangibles, net mean?: This represents the carrying value of intangible assets for the Natural Gas and NGL Services segment, calculated as the gross cost minus accumulated amortization and any impairment losses. It reflects the current book value of these assets on the balance sheet, representing the future economic benefits expected to be derived from these specific intangible holdings. This is a key indicator of the segment's non-physical asset base value.