MPC

Marathon PetroleumNYSE · Oil & Gas Refining & Marketing · Energy

Previous close

444.73

Change

+12.22 / +2.83%

FinDog View

Neutral

52-Week Range ?

161.93 – 493.98

P/E (TTM) ?

14.2

Forward P/E ?

8.3

Based on consensus earnings for the next 12 months

Market Cap

$124B

+12.47%

S&P 500 −0.91% over same period

Volume / Avg Volume

2.1M / 2.2M

0.96× average

Latest earnings analysisFY2026 Q2Reported 2026-08-04

MPC Q2 2026: net income $5.14 billion as refining margin doubles

MPC's second quarter was a crack-spread quarter, not a volume quarter: revenue of $51.99 billion rose 53.8% from a year ago while throughput actually fell, and net income of $5.14 billion produced $17.73 of diluted EPS against a $13.88 consensus. Read this as a refining-margin story with midstream ballast, and ask how much of the margin level is repeatable.

Read the full analysis →

Revenue$51.99BYoY +53.80%

EPS (non-GAAP)$17.73Beatest. $13.88

Next-day move−4.75%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 17.51M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-08-04	$52.0B	17.73 / 13.88	−4.75%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-04-13	$34.2B	1.65 / 0.75	−0.60%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-02-03	$133B	4.07 / 2.91	+4.45%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-11-04	$34.8B	3.01 / 3.18	+1.31%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-08-05	$33.8B	3.96 / —	−3.84%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-05-06	$31.5B	-0.24 / —	+0.10%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2026-11-03

in 2 days · Pre-market

Consensus EPS

$24.57

Last quarter EPS $17.73

Avg. next-day move over the last 6 reports

±2.5%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 54 of its 5-year rangeMid-range

5-year range 5.5 – 26.6 · Median 13.3

Last 4 quarters: $4.9B in buybacks + $1.2B in dividends, 4.93% of market cap combined

P/E (TTM)

14.2

P/B

6.4

P/S

0.8

Dividend Yield

2.21%

Earnings Reaction

Over the last 6 reports, the stock moved ±2.5% on average on the first trading day after, rising 3 times

Most recent −4.75%

Volatility & Correlation

1-year beta -0.28 · Correlation with S&P 500 -0.10Low beta

Annualized volatility 36% vs. 13% for the S&P 500

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 6 · $9.8MNet selling $9.8M

08-31Lyon Shawn MSVP Log & Storage, MPLX GP LLCSell$0.38M1,000 shares · Avg price 375.75
08-28Lyon Shawn MSVP Log & Storage, MPLX GP LLCSell$0.16M425 shares · Avg price 368.51
08-27Brzezinski Erin MVP and ControllerSell$0.21M570 shares · Avg price 362.79
08-17Benson Molly RChief Legal Ofc & Corp SecSell$6.2M17,196 shares · 3 trades · Avg price 358.57
08-13Lyon Shawn MSVP Log & Storage, MPLX GP LLCSell$0.88M2,500 shares · Avg price 350.00
08-12Henschen Michael A IIEx VP, RefiningSell$2.1M6,011 shares · Avg price 341.56

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q2	51.99	+53.8%	17.2%	7.32	5.14	9.14	17.73
FY2026 Q1	34.20	+8.5%	8.6%	1.40	0.51	0.21	1.73
FY2025 Q4	32.57	−1.7%	11.4%	2.69	1.54	1.89	4.99
FY2025 Q3	34.81	−0.8%	10.4%	2.71	1.37	1.66	4.51
FY2025 Q2	33.80	−10.9%	11.2%	2.20	1.22	1.94	3.96
FY2025 Q1	31.52	−3.6%	6.8%	0.69	-0.07	-0.73	-0.24
FY2024 Q4	33.14	−8.6%	7.8%	1.14	0.37	1.40	1.30
FY2024 Q3	35.11	−14.2%	8.4%	1.35	0.62	1.03	1.87
FY2024 Q2	37.91	+4.3%	10.5%	2.52	1.52	2.76	4.33
FY2024 Q1	32.71	−6.2%	9.5%	1.78	0.94	0.95	2.58
FY2023 Q4	36.26	−8.9%	10.1%	2.40	1.45	0.59	3.94
FY2023 Q3	40.92	−10.6%	14.6%	4.75	3.28	4.53	8.28

Peers

Largest by market cap in the sector · Latest quarterView Energy sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
MPC	Marathon Petroleum	$124B	14.2	+53.8%	17.2%	+12.47%	Neutral
XOM	ExxonMobil	$753B	22.6	+42.3%	—	+15.05%	Neutral	Compare
CVX	Chevron Corporation	$465B	22.6	+51.4%	45.5%	+15.33%	Bullish	Compare
COP	ConocoPhillips	$184B	19.7	+43.3%	62.9%	+23.08%	Bullish	Compare
VLO	Valero Energy	$121B	15.4	+43.3%	20.4%	+3.11%	Bullish	Compare
PSX	Phillips 66	$109B	15.0	+46.4%	19.2%	+10.78%	Bullish	Compare
WMB	Williams Companies	$87.7B	29.6	+0.0%	—	+9.39%	Neutral	Compare
EOG	EOG Resources	$86.6B	12.6	+57.4%	—	+20.17%	Bullish	Compare
SLB	Schlumberger	$78.6B	25.5	+5.8%	—	+10.30%	Neutral	Compare

The View in One Line

EPS $17.73 beat by 27.7%, FCF $9.14B, but profit driven by refining spreads, volatile, no full-year guidance; beat hard to extrapolate, neutral.

Updated 2026-10-30

View History

09-17Bullish → Neutral
EPS $17.73 beat 27.7%, FCF $9.14B, but profit driven by volatile refining spreads, no full-year guide; beat not extrapolatable.

ETFs holding it

XLE Energy Select Sector SPDR Fund4.65%
MTUM iShares MSCI USA Momentum Factor ETF0.70%
VYM Vanguard High Dividend Yield ETF0.53%
VTV Vanguard Value ETF0.46%
RSP Invesco S&P 500 Equal Weight ETF0.32%
VOO Vanguard S&P 500 ETF0.20%
IVV iShares Core S&P 500 ETF0.20%
SPY SPDR S&P 500 ETF Trust0.19%

Weights estimated at latest prices

Key Events

10-29Management Change
Marathon Petroleum Expands Board to 11, Elects Constable
On October 28, 2026, Marathon Petroleum's board voted to increase its size to 11 and elected David E. Constable as a director, effective March 1, 2027.Source ↗
06-29Management Change
Marathon Oil Director Alkhayyal Passes Away
Marathon Oil learned on June 26, 2026 of the death of director Abdulaziz F. Alkhayyal, who had served on the company's board since 2016.Source ↗
05-01Governance
Marathon Oil Annual Meeting Voting Results Announced
At the April 29, 2026 annual meeting, four Class III directors were elected, PwC was approved as auditor for 2026, and the proposal to declassify the board was not passed.Source ↗
04-13Capital Actions
Marathon Oil Signs $5 Billion Five-Year Revolving Credit Agreement
On April 7, 2026, Marathon Oil entered into a $5 billion five-year revolving credit agreement with JPMorgan and other banks, maturing in 2031 and replacing the original 2022 agreement.Source ↗

Key Financial Trends

Quarterly Revenue ($B)52.0

Gross Margin17.2%

Free Cash Flow ($B)9.1