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MPLX LP MPLX

US equityMarket cap rank #272
$58.30
−$0.51 (-0.87%)
Market open · Sep 24, 2:00 pm ET
After hours $58.50 -0.53%
Open$58.69
Prev close$58.81
Day range$58.00 – $59.08
Volume660.2K
Market cap$59.11B
P/E (TTM)12.5
Dividend yield7.18%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$3.08B+10.5% YoY
Operating profit$1.20B+6.7% YoY
Net profit$1.09B+2.7% YoY
Diluted EPS$1.06+2.9% YoY
Free cash flow$877.00M-38.9% YoY
Operating cash flow$1.70B

Revenue, last 8 quarters

$2.8BSep '24$2.8BDec '24$2.9BMar '25$2.8BJun '25$2.9BSep '25$2.9BDec '25$2.8BMar '26$3.1BJun '26

Net profit, last 8 quarters

$1.0BSep '24$1.1BDec '24$1.1BMar '25$1.1BJun '25$1.6BSep '25$1.2BDec '25$922.0MMar '26$1.1BJun '26

Diluted EPS by quarter

1.01Sep '241.07Dec '241.10Mar '251.03Jun '251.52Sep '251.17Dec '250.90Mar '261.06Jun '26

Free cash flow by quarter

$1.1BSep '24$1.4BDec '24$979.0MMar '25$1.4BJun '25$905.0MSep '25$782.0MDec '25$772.0MMar '26$877.0MJun '26

Annual revenue

$8.4BFY20$9.6BFY21$10.5BFY22$10.4BFY23$10.9BFY24$11.5BFY25

Profitability & balance sheet

Gross margin42.2%
Operating margin40.1%
Net margin40.4%
Return on equity33.9%
Return on assets11.7%
Return on invested capital15.3%
Current ratio0.89
Liabilities / assets66.8%
Cash & investments$1.03B
Total debt$26.08B
Net cash (debt)-$25.05B
Free cash flow / sales28.5%

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Crude Oil and Products Logistics$1.61B 52.1%
  • Natural Gas and Natural Gas Liquids (NGL) Services$1.48B 47.9%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Operating Revenue $3.08B $2.81B $11.47B $2.89B $2.91B
Cost of Revenue $1.79B $1.67B $6.47B $1.63B $1.66B
Gross Profit $1.29B $1.13B $5.00B $1.26B $1.25B
Operating Expense $92.00M $100.00M $240.00M -$66.00M $118.00M
Selling and Admin Expenses $108.00M $114.00M $446.00M $101.00M $126.00M
-General & Admin Expense $108.00M $114.00M $446.00M $101.00M $126.00M
Other Taxes $34.00M $36.00M $137.00M $36.00M $36.00M
Other Operating Expenses -$50.00M -$50.00M -$343.00M -$203.00M -$44.00M
Operating Profit $1.20B $1.03B $4.76B $1.33B $1.13B
Net Non-Operating Interest Income (Expense) -$289.00M -$291.00M -$983.00M -$277.00M -$243.00M
Non-Operating Interest Income $11.00M $19.00M $68.00M $18.00M $16.00M
Non-Operating Interest Expense $296.00M $294.00M $1.03B $288.00M $268.00M
Total Other Finance Costs $4.00M $16.00M $21.00M $7.00M -$9.00M
Other Income (Expense) $180.00M $182.00M $1.18B $155.00M $670.00M
Earnings from Equity Interest $180.00M $182.00M $1.18B $155.00M $670.00M
Pretax Profit $1.09B $923.00M $4.96B $1.21B $1.56B
Tax $2.00M $1.00M $8.00M $3.00M $3.00M
Net Profit $1.09B $922.00M $4.95B $1.20B $1.56B
Profit from Continuing Operations $1.09B $922.00M $4.95B $1.20B $1.56B
Minority Interests $10.00M $10.00M $40.00M $10.00M $10.00M
Net Income to Parent Company $1.08B $912.00M $4.91B $1.19B $1.55B
Net Income to Common Stockholders $1.08B $912.00M $4.91B $1.19B $1.55B
Basic EPS $1.06 $0.90 $4.82 $1.17 $1.52
Diluted EPS $1.06 $0.90 $4.82 $1.17 $1.52
Dividend Per Share $1.08 $1.08 $3.95 $1.08 $0.96

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $42.97B $42.93B $43.01B $43.01B $43.23B
Total Current Assets $2.88B $3.52B $3.99B $3.99B $4.60B
Cash and Cash Equivalents & Short-Term Investments $1.03B $1.51B $2.14B $2.14B $1.77B
-Cash and Cash Equivalents $1.03B $1.51B $2.14B $2.14B $1.77B
Receivables $1.59B $1.76B $1.63B $1.63B $1.57B
-Accounts Receivable $672.00M $769.00M $735.00M $735.00M $729.00M
-Due from Related Parties Current $715.00M $690.00M $625.00M $625.00M $594.00M
-Other Receivables $206.00M $298.00M $269.00M $269.00M $247.00M
Prepaid Assets $11.00M $19.00M $5.00M $5.00M $13.00M
Inventory $200.00M $178.00M $172.00M $172.00M $175.00M
Other Current Assets $41.00M $62.00M $51.00M $51.00M $38.00M
Total Non-Current Assets $40.09B $39.41B $39.01B $39.01B $38.63B
Net PPE $23.14B $22.50B $22.21B $22.21B $21.85B
-Gross PPE $33.81B $32.86B $32.27B $32.27B $31.62B
-Accumulated Depreciation -$10.67B -$10.36B -$10.06B -$10.06B -$9.77B
Investments and Advances $5.15B $4.98B $4.80B $4.80B $4.79B
-Long Term Equity Investment $5.15B $4.98B $4.80B $4.80B $4.79B
Non Current Accounts Receivables $334.00M $385.00M $460.00M $460.00M $519.00M
Goodwill and Other Intangible Assets $10.06B $10.10B $10.15B $10.15B $10.18B
-Goodwill $8.74B $8.74B $8.76B $8.76B $8.73B
-Other Intangible Assets $1.32B $1.36B $1.40B $1.40B $1.44B
Other Non-Current Assets $1.41B $1.45B $1.39B $1.39B $1.30B
Total Liabilities $28.72B $28.64B $28.48B $28.48B $28.70B
Total Current Liabilities $3.22B $3.19B $3.25B $3.25B $3.50B
Payables $448.00M $432.00M $398.00M $398.00M $405.00M
-Accounts Payable $155.00M $126.00M $108.00M $108.00M $131.00M
-Due to Related Parties Current $293.00M $306.00M $290.00M $290.00M $274.00M
Current Accrued Expenses $1.19B $1.13B $1.05B $1.05B $934.00M
Short-Term Debt and Capital Lease Obligation $1.31B $1.31B $1.56B $1.56B $1.55B
-Current Debt $1.25B $1.25B $1.50B $1.50B $1.50B
-Current Capital Lease Obligation $55.00M $55.00M $57.00M $57.00M $50.00M
Current Deferred Liabilities $101.00M $96.00M $107.00M $107.00M $118.00M
Other Current Liabilities $177.00M $228.00M $141.00M $141.00M $494.00M
Total Non-Current Liabilities $25.49B $25.44B $25.23B $25.23B $25.20B
Long Term Debt and Capital Lease Obligation $24.83B $24.83B $24.61B $24.61B $24.59B
-Long Term Debt $24.39B $24.38B $24.15B $24.15B $24.15B
-Long Term Capital Lease Obligation $438.00M $445.00M $458.00M $458.00M $442.00M
Non-Current Deferred Liabilities $298.00M $278.00M $271.00M $271.00M $258.00M
Other Non-Current Liabilities $368.00M $338.00M $352.00M $352.00M $356.00M
Total Equity $14.25B $14.30B $14.53B $14.53B $14.52B
Share capital $14.03B $14.07B $14.30B $14.30B $14.30B
Minority Interests $225.00M $226.00M $227.00M $227.00M $228.00M

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $1.70B $1.35B $5.91B $1.50B $1.43B
Net cash flow from continuing operations $1.70B $1.35B $5.91B $1.50B $1.43B
Net Income from Continuing Operations $1.09B $922.00M $4.95B $1.20B $1.56B
Gain/Loss from Continuing Operations -$223.00M -$117.00M -$1.36B -$325.00M -$675.00M
Depreciation & Depletion & Amortization $365.00M $358.00M $1.35B $355.00M $346.00M
Other Non-Cash Items -$4.00M $18.00M $29.00M $2.00M $7.00M
Change in Working Capital $261.00M -$71.00M $65.00M $22.00M -$40.00M
-Change in Receivables $117.00M -$24.00M $48.00M $4.00M $12.00M
-Change in Inventory -$22.00M -$6.00M -$26.00M -$7.00M -$7.00M
-Change In Other Working Capital $151.00M -$26.00M $55.00M $37.00M -$45.00M
Net cash flow from investing -$1.03B -$791.00M -$4.86B $78.00M -$3.73B
Net Cash Flow from Continuing Investing Activities -$1.03B -$791.00M -$4.86B $78.00M -$3.73B
Net PPE Purchase and Sale -$825.00M -$575.00M -$1.81B -$714.00M -$526.00M
Net Business Purchase and Sale -$203.00M -$224.00M -$4.03B $61.00M -$3.39B
Net Investment Purchase and Sale $0.00 $0.00 – – $83.00M
Net Other Investing Changes $0.00 $8.00M $983.00M $874.00M $100.00M
Financing Cash Flow -$1.15B -$1.19B -$435.00M -$1.20B $2.68B
Net Cash Flow from Continuing Financing Activities -$1.15B -$1.19B -$435.00M -$1.20B $2.68B
Net Issuance Payments Of Debt $0.00 -$16.00M $4.08B $0.00 $3.80B
Net Common Stock Issuance -$50.00M -$50.00M -$400.00M -$100.00M -$100.00M
Cash Dividends Paid -$1.09B -$1.09B -$4.02B -$1.10B -$975.00M
Net Other Financing Charges -$7.00M -$28.00M -$88.00M -$7.00M -$47.00M
Ending Cash Balance $1.03B $1.51B $2.14B $2.14B $1.77B
Net Change in Cash -$475.00M -$631.00M $618.00M $372.00M $379.00M
Beginning Cash Balance $1.51B $2.14B $1.52B $1.77B $1.39B
Free Cash Flow $877.00M $772.00M $4.10B $782.00M $905.00M
-Change in Payables and Accrued Expense – -$15.00M -$12.00M – –
Deferred Tax – – $7.00M $6.00M $2.00M
Net Preferred Stock Issuance – – $0.00 – –
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