Mplx (MPLX) Financials

$49.44 -0.56 (-1.12%)

Closing price 03:59 PM Eastern

Extended Trading

$49.73 +0.29 (+0.59%)

As of 05:43 PM Eastern

Annual Income Statements for Mplx

This table shows Mplx's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	121	156	658	1,047	1,743	935	-206	3,077	3,815	3,829	4,290
Consolidated Net Income / (Loss)	239	333	900	836	2,006	1,462	-687	3,112	3,978	3,966	4,357
Net Income / (Loss) Continuing Operations	239	333	900	836	2,006	1,462	-51	3,112	3,978	3,966	4,357
Total Pre-Tax Income	240	334	422	837	2,014	1,462	-685	3,113	3,986	3,977	4,367
Total Operating Income	245	381	916	1,191	2,728	2,377	211	3,992	4,911	4,900	5,288
Total Gross Profit	411	650	1,914	2,169	4,129	5,329	7,276	5,794	6,591	6,623	7,129
Total Revenue	793	1,101	3,029	3,867	7,005	9,041	9,141	10,027	11,613	11,281	11,933
Operating Revenue	787	1,101	3,029	3,867	6,998	9,041	9,141	10,027	11,613	11,281	11,933
Total Cost of Revenue	382	451	1,115	1,698	2,876	3,712	1,865	4,233	5,022	4,658	4,804
Operating Cost of Revenue	382	451	1,115	1,698	2,876	3,712	1,865	4,233	5,022	4,658	4,804
Total Operating Expenses	166	269	998	978	1,401	2,952	5,493	1,802	1,680	1,723	1,841
Selling, General & Admin Expense	81	125	227	241	316	388	378	353	335	379	427
Depreciation Expense	75	129	591	683	867	1,254	1,377	1,287	1,230	1,213	1,283
Other Operating Expenses / (Income)	10	15	50	54	218	113	1,536	120	115	131	131
Total Other Income / (Expense), net	-5.00	-47	-28	-354	-714	-915	-1,832	-879	-925	-923	-921
Interest Expense	4.00	35	211	298	595	862	896	793	925	923	921
Income Tax Expense	1.00	1.00	-12	1.00	8.00	0.00	2.00	1.00	8.00	11	10
Preferred Stock Dividends Declared	0.00	0.00	41	65	75	98	122	141	129	99	27
Net Income / (Loss) Attributable to Noncontrolling Interest	57	1.00	2.00	6.00	16	28	33	35	34	38	40
Basic Earnings per Share	$3.05	$1.34	$0.00	$1.07	$2.29	$1.00	($0.80)	$2.86	$3.75	$3.80	$4.21
Weighted Average Basic Shares Outstanding	76M	99M	676M	786M	1.52B	906M	1.05B	1.03B	1.01B	1.00B	1.02B
Diluted Earnings per Share	$3.05	$1.33	$0.00	$1.06	$2.29	$1.00	($0.80)	$2.86	$3.75	$3.80	$4.21
Weighted Average Diluted Shares Outstanding	76M	100M	690M	792M	1.52B	907M	1.05B	1.03B	1.01B	1.00B	1.02B
Weighted Average Basic & Diluted Shares Outstanding	76M	99M	338M	393M	761M	906M	1.05B	1.03B	1.01B	1.00B	1.02B
Cash Dividends to Common per Share	$1.41	-	-	-	-	-	$2.75	$3.36	$2.96	$3.25	$3.61

This table shows Mplx's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	783	915	910	893	1,111	995	1,171	1,031	1,093	1,126	1,048
Consolidated Net Income / (Loss)	824	952	942	928	1,144	1,015	1,186	1,047	1,109	1,136	1,058
Net Income / (Loss) Continuing Operations	824	952	942	928	1,144	1,015	1,186	1,047	1,109	1,136	1,058
Total Pre-Tax Income	826	953	942	929	1,153	1,016	1,188	1,049	1,114	1,137	1,059
Total Operating Income	1,060	1,196	1,175	1,154	1,375	1,251	1,419	1,275	1,343	1,366	1,293
Total Gross Profit	436	1,972	2,313	1,601	737	2,082	2,263	1,736	667	2,226	2,125
Total Revenue	2,662	2,713	2,690	2,912	2,966	2,846	3,052	2,972	3,063	3,124	3,003
Operating Revenue	2,662	2,713	2,690	2,912	2,966	2,846	3,052	2,972	3,063	3,124	3,003
Total Cost of Revenue	2,226	741	377	1,311	2,229	764	789	1,236	2,396	898	878
Operating Cost of Revenue	2,226	741	377	1,311	2,229	764	789	1,236	2,396	898	878
Total Operating Expenses	-624	776	1,138	447	-638	831	844	461	-676	860	832
Selling, General & Admin Expense	87	89	89	102	99	109	107	107	104	112	107
Depreciation Expense	305	296	310	301	306	317	320	322	324	326	324
Other Operating Expenses / (Income)	-1,016	391	739	44	-1,043	405	417	32	-1,104	422	401
Total Other Income / (Expense), net	-234	-243	-233	-225	-222	-235	-231	-226	-229	-229	-234
Interest Expense	253	243	233	225	222	235	231	226	229	229	234
Income Tax Expense	2.00	1.00	0.00	1.00	9.00	1.00	2.00	2.00	5.00	1.00	1.00
Preferred Stock Dividends Declared	33	28	23	25	23	10	5.00	6.00	6.00	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	8.00	9.00	9.00	10	10	10	10	10	10	10	10
Basic Earnings per Share	$0.78	$0.91	$0.91	$0.89	$1.09	$0.98	$1.15	$1.01	$1.07	$1.10	$1.03
Weighted Average Basic Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Diluted Earnings per Share	$0.78	$0.91	$0.91	$0.89	$1.09	$0.98	$1.15	$1.01	$1.07	$1.10	$1.03
Weighted Average Diluted Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Cash Dividends to Common per Share	-	$0.78	$0.78	$0.85	-	$0.85	$0.85	$0.96	-	$0.96	$0.96

This table details how cash moves in and out of Mplx's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-27	16	187	-230	76	-70	0.00	-2.00	225	810	471
Net Cash From Operating Activities	334	427	1,491	1,907	3,071	4,082	4,521	4,911	5,019	5,397	5,946
Net Cash From Continuing Operating Activities	334	427	1,491	1,907	3,071	4,082	4,521	4,911	5,019	5,397	5,966
Net Income / (Loss) Continuing Operations	239	333	434	836	2,006	1,462	-687	3,112	3,978	3,966	4,357
Consolidated Net Income / (Loss)	239	333	434	836	2,006	1,462	-687	3,112	3,978	3,966	4,357
Depreciation Expense	75	129	591	683	867	1,254	1,377	1,287	1,230	1,213	1,283
Amortization Expense	1.00	5.00	46	53	55	42	61	70	73	55	54
Non-Cash Adjustments To Reconcile Net Income	-2.00	11	345	161	161	1,425	3,564	216	-373	30	27
Changes in Operating Assets and Liabilities, net	21	-51	75	174	-18	-101	206	226	111	133	245
Net Cash From Investing Activities	-137	-1,686	-1,417	-2,308	-2,878	-3,063	-1,262	-518	-956	-1,252	-1,995
Net Cash From Continuing Investing Activities	-137	-1,686	-1,417	-2,308	-2,878	-3,063	-1,262	-518	-956	-1,252	-1,995
Purchase of Property, Plant & Equipment	-141	-334	-1,313	-1,411	-2,111	-2,408	-1,183	-529	-806	-937	-1,056
Acquisitions	0.00	-1,232	-87	-1,010	-792	-713	-266	-151	-245	-344	-1,086
Sale of Property, Plant & Equipment	0.00	0.00	1.00	7.00	8.00	30	56	126	84	26	1.00
Sale and/or Maturity of Investments	0.00	0.00	0.00	106	16	18	123	36	11	3.00	146
Net Cash From Financing Activities	-224	1,275	113	171	-117	-1,089	-3,259	-4,395	-3,838	-3,335	-3,480
Net Cash From Continuing Financing Activities	-224	1,275	113	171	-117	-1,089	-3,259	-4,395	-3,838	-3,335	-3,480
Repayment of Debt	-529	-1,746	-3,858	-2,440	-11,369	-7,363	-7,043	-12,866	-6,674	-1,018	-1,172
Repurchase of Preferred Equity	-	-	-	-	-	-	-	0.00	0.00	-600	0.00
Repurchase of Common Equity	-	-	-	-	0.00	0.00	-33	-630	-491	0.00	-326
Payment of Dividends	-175	-159	-873	-1,192	-1,907	-3,069	-3,043	-3,612	-3,085	-3,337	-3,647
Issuance of Debt	1,160	1,960	2,966	5,280	17,457	9,174	6,810	12,668	6,368	1,589	1,630
Other Financing Activities, net	-910	-11	96	-2,089	-4,309	74	50	45	44	31	35

This table details how cash moves in and out of Mplx's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	117	155	362	205	88	-663	2,116	-75	-907	1,015	-1,148
Net Cash From Operating Activities	1,368	1,227	1,437	1,244	1,489	1,291	1,565	1,415	1,675	1,246	1,736
Net Cash From Continuing Operating Activities	1,368	1,227	1,437	1,244	1,489	1,291	1,585	1,415	1,675	1,246	1,736
Net Income / (Loss) Continuing Operations	824	952	942	928	1,144	1,015	1,186	1,047	1,109	1,136	1,058
Consolidated Net Income / (Loss)	824	952	942	928	1,144	1,015	1,186	1,047	1,109	1,136	1,058
Depreciation Expense	305	296	310	301	306	317	320	322	324	326	324
Amortization Expense	18	17	12	13	13	13	14	14	13	10	6.00
Non-Cash Adjustments To Reconcile Net Income	43	6.00	33	34	-43	3.00	-107	72	59	2.00	37
Changes in Operating Assets and Liabilities, net	178	-44	140	-32	69	-57	172	-40	170	-228	311
Net Cash From Investing Activities	-280	-220	-271	-236	-525	-996	-114	-536	-349	-601	-602
Net Cash From Continuing Investing Activities	-280	-220	-271	-236	-525	-996	-114	-536	-349	-601	-602
Purchase of Property, Plant & Equipment	-271	-169	-263	-230	-275	-255	-213	-280	-308	-267	-301
Acquisitions	-19	-51	-26	-13	-254	-741	-35	-260	-50	-356	-348
Sale and/or Maturity of Investments	-	-	-	-	3.00	0.00	-	4.00	8.00	21	39
Net Cash From Financing Activities	-971	-852	-804	-803	-876	-958	665	-954	-2,233	370	-2,282
Net Cash From Continuing Financing Activities	-971	-852	-804	-803	-876	-958	665	-954	-2,233	370	-2,282
Repayment of Debt	-166	-1,018	-1.00	-	1.00	-6.00	-13	-2.00	-1,151	-525	-1,203
Repurchase of Common Equity	-176	0.00	-	-	-	-75	-75	-76	-100	-100	-100
Payment of Dividends	-808	-831	-808	-810	-888	-887	-885	-884	-991	-989	-987
Issuance of Debt	165	1,589	-	-	-	0.00	1,630	-	-	1,977	1.00
Other Financing Activities, net	14	8.00	5.00	7.00	11	10	8.00	8.00	9.00	7.00	7.00

This table presents Mplx's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,214	16,104	17,509	19,500	39,325	40,430	36,414	35,507	35,665	36,529	37,511
Total Current Assets	97	576	868	559	1,440	1,484	1,515	1,507	1,905	2,808	3,276
Cash & Equivalents	27	43	234	5.00	77	15	15	13	238	1,048	1,519
Accounts Receivable	51	432	546	452	611	593	1,129	1,298	1,466	1,571	1,548
Inventories, net	12	51	55	65	98	110	118	142	148	159	180
Other Current Assets	7.00	50	33	37	654	766	66	54	53	30	29
Plant, Property, & Equipment, net	1,008	9,997	11,408	12,187	21,525	22,145	21,218	20,042	0.00	0.00	0.00
Total Noncurrent Assets	109	5,531	5,233	6,754	16,360	16,801	13,912	14,187	33,760	33,721	34,235
Long-Term Investments	0.00	2,458	2,471	4,010	4,901	5,275	4,036	3,981	4,095	3,743	4,531
Goodwill	105	2,570	2,245	2,245	10,016	9,536	7,657	7,657	7,645	7,645	7,645
Intangible Assets	0.00	466	492	453	1,359	1,270	959	831	705	654	518
Other Noncurrent Operating Assets	4.00	12	14	26	84	720	588	557	21,315	21,679	21,541
Total Liabilities & Shareholders' Equity	1,214	16,104	17,509	19,500	39,325	40,430	36,414	35,507	35,665	36,529	37,511
Total Liabilities	751	6,437	5,399	8,527	20,590	22,849	22,429	22,490	22,151	22,945	23,501
Total Current Liabilities	101	625	763	1,304	2,268	2,132	2,086	3,348	2,401	2,624	3,235
Short-Term Debt	-	-	-	-	-	9.00	764	499	988	1,135	1,693
Accounts Payable	34	145	227	667	266	242	508	1,952	224	153	147
Accrued Expenses	28	355	378	425	671	470	278	460	397	516	503
Other Current Liabilities	2.00	12	27	81	1,147	1,201	213	235	556	579	648
Other Current Nonoperating Liabilities	1.00	54	53	88	184	210	323	202	237	242	244
Total Noncurrent Liabilities	650	5,812	4,636	7,223	18,322	20,717	20,343	19,142	19,750	20,321	20,266
Long-Term Debt	644	5,255	4,422	6,945	17,922	19,704	19,375	18,072	18,808	19,296	19,255
Noncurrent Deferred Revenue	6.00	179	208	273	340	409	429	553	361	347	317
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	378	6.00	5.00	14	12	12	10	13	16	18
Other Noncurrent Operating Liabilities	-	-	-	-	46	592	244	205	568	662	676
Commitments & Contingencies	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	0.00	1,000	1,000	1,004	968	968	965	968	895	203
Total Equity & Noncontrolling Interests	463	9,667	11,110	9,973	17,731	16,613	13,017	12,052	12,546	12,689	13,807
Total Preferred & Common Equity	457	9,654	11,092	9,813	17,559	16,349	12,772	23,028	12,309	12,454	13,576
Total Common Equity	457	9,654	11,092	9,813	17,559	16,349	12,772	23,028	12,309	12,454	13,576
Common Stock	457	9,654	11,092	9,827	-	16,364	12,787	23,045	12,317	12,458	13,579
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-14	-16	-15	-15	-17	-8.00	-4.00	-3.00
Noncontrolling Interest	6.00	13	18	146	156	249	245	241	237	235	231

This table presents Mplx's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	35,812	35,672	35,873	36,120	36,461	38,402	38,515	38,972	37,841
Total Current Assets	1,951	2,012	2,321	2,736	2,139	4,196	4,218	4,521	3,173
Cash & Equivalents	121	393	755	960	385	2,501	2,426	2,534	1,386
Accounts Receivable	1,639	1,415	1,371	1,592	1,555	1,495	1,584	1,768	1,562
Inventories, net	151	141	146	154	163	168	171	186	192
Other Current Assets	40	63	49	30	36	32	37	33	33
Plant, Property, & Equipment, net	18,910	18,758	18,692	18,620	19,299	0.00	19,153	19,147	0.00
Total Noncurrent Assets	14,951	15,130	15,088	14,764	15,023	34,206	15,144	15,304	34,668
Long-Term Investments	4,108	4,144	4,124	4,099	4,343	4,373	4,558	4,751	5,024
Goodwill	7,645	7,645	7,645	7,645	7,645	7,645	7,645	7,645	7,645
Intangible Assets	736	673	641	609	618	585	551	529	497
Other Noncurrent Operating Assets	1,240	2,668	2,678	2,411	2,417	21,603	2,390	2,379	21,502
Total Liabilities & Shareholders' Equity	35,812	35,672	35,873	36,120	36,461	38,402	38,515	38,972	37,841
Total Liabilities	22,169	22,624	22,684	22,804	22,814	24,516	24,533	24,904	23,792
Total Current Liabilities	2,499	1,312	1,316	1,399	2,960	4,226	4,267	4,169	3,069
Short-Term Debt	982	1.00	1.00	1.00	1,639	2,827	2,836	2,697	1,500
Accounts Payable	653	139	128	132	132	127	120	145	149
Accrued Expenses	411	424	390	472	414	418	461	480	515
Other Current Liabilities	261	883	886	607	588	602	630	644	638
Other Current Nonoperating Liabilities	192	192	247	187	187	252	220	203	267
Total Noncurrent Liabilities	19,670	21,312	21,368	21,405	19,854	20,290	20,266	20,735	20,723
Long-Term Debt	18,797	20,393	20,405	20,417	18,805	19,245	19,250	19,721	19,725
Noncurrent Deferred Revenue	300	347	381	414	482	344	326	317	308
Noncurrent Deferred & Payable Income Tax Liabilities	14	13	13	12	16	16	16	18	18
Other Noncurrent Operating Liabilities	241	559	569	562	551	685	674	679	672
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	967	968	968	970	561	202	203	0.00	0.00
Total Equity & Noncontrolling Interests	12,676	12,080	12,221	12,346	13,086	13,684	13,779	14,068	14,049
Total Preferred & Common Equity	26,357	11,843	11,984	12,110	12,852	13,451	13,547	13,838	13,820
Total Common Equity	12,438	11,843	11,984	12,110	12,852	13,451	13,547	13,838	13,820
Common Stock	26,303	11,847	11,988	12,114	12,855	13,454	13,550	13,833	13,815
Accumulated Other Comprehensive Income / (Loss)	-8.00	-4.00	-4.00	-4.00	-3.00	-3.00	-3.00	5.00	5.00
Noncontrolling Interest	238	237	237	236	234	233	232	230	229

This table displays calculated financial ratios and metrics derived from Mplx's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	63.17%	38.84%	175.11%	27.67%	81.15%	29.07%	1.11%	9.69%	15.82%	-2.86%	5.78%
EBITDA Growth	64.10%	57.19%	152.49%	47.32%	88.72%	2.52%	-54.45%	224.38%	16.17%	-0.74%	7.41%
EBIT Growth	67.12%	51.23%	71.54%	79.30%	129.87%	-10.92%	-90.92%	1,791.94%	23.02%	-0.22%	7.92%
NOPAT Growth	65.97%	55.69%	148.00%	26.28%	128.41%	-12.52%	-93.79%	2,601.91%	22.81%	-0.30%	7.97%
Net Income Growth	63.70%	39.33%	170.27%	-7.11%	139.95%	-27.12%	-146.99%	552.98%	27.83%	-0.30%	9.86%
EPS Growth	48.06%	-56.39%	-100.00%	0.00%	116.04%	-56.33%	-180.00%	457.50%	31.12%	1.33%	10.79%
Operating Cash Flow Growth	57.55%	27.84%	249.18%	27.90%	61.04%	32.92%	10.75%	8.63%	2.20%	7.53%	10.17%
Free Cash Flow Firm Growth	138.49%	-4,817.40%	95.80%	332.98%	-1,505.08%	113.37%	-19.12%	289.74%	-37.13%	15.42%	20.64%
Invested Capital Growth	0.98%	1,054.02%	11.26%	0.80%	127.74%	1.10%	-4.63%	-7.80%	3.13%	0.86%	-1.07%
Revenue Q/Q Growth	48.36%	8.82%	14.13%	6.53%	37.27%	0.00%	0.00%	70.18%	-7.72%	2.77%	0.82%
EBITDA Q/Q Growth	38.23%	19.85%	16.19%	5.83%	21.67%	215.06%	-30.48%	1,155.63%	-1.15%	5.31%	-0.21%
EBIT Q/Q Growth	34.58%	13.82%	15.93%	8.10%	23.71%	2,251.85%	-78.58%	499.20%	-1.25%	6.87%	-0.60%
NOPAT Q/Q Growth	34.27%	17.51%	54.24%	-10.62%	25.44%	0.00%	0.00%	499.34%	-1.30%	6.69%	-0.51%
Net Income Q/Q Growth	33.97%	9.43%	138.10%	-32.74%	22.62%	0.00%	0.00%	-57.50%	-18.01%	8.78%	-0.80%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	63.30%	0.00%	0.00%	8.88%	-0.47%
Operating Cash Flow Q/Q Growth	42.01%	6.30%	30.33%	2.86%	18.30%	1.19%	2.10%	1.13%	2.62%	2.29%	3.23%
Free Cash Flow Firm Q/Q Growth	0.00%	-4,871.25%	95.85%	299.68%	-2,007.93%	112.29%	-42.54%	140.86%	89.26%	-14.51%	15.01%
Invested Capital Q/Q Growth	1.40%	976.82%	7.29%	-0.05%	88.73%	-3.44%	0.70%	5.47%	-1.65%	2.09%	-0.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	51.83%	59.04%	63.19%	56.09%	58.94%	58.94%	79.60%	57.78%	56.76%	58.71%	59.74%
EBITDA Margin	40.35%	45.69%	41.93%	48.38%	50.41%	40.04%	18.04%	53.35%	53.51%	54.68%	55.52%
Operating Margin	30.90%	34.60%	30.24%	30.80%	38.94%	26.29%	2.31%	39.81%	42.29%	43.44%	44.31%
EBIT Margin	30.77%	33.52%	20.90%	29.35%	37.24%	25.71%	2.31%	39.81%	42.29%	43.44%	44.31%
Profit (Net Income) Margin	30.14%	30.25%	29.71%	21.62%	28.64%	16.17%	-7.52%	31.04%	34.25%	35.16%	36.51%
Tax Burden Percent	99.58%	99.70%	213.27%	99.88%	99.60%	100.00%	100.29%	99.97%	99.80%	99.72%	99.77%
Interest Burden Percent	98.36%	90.51%	66.67%	73.74%	77.19%	62.91%	-324.64%	77.98%	81.16%	81.16%	82.58%
Effective Tax Rate	0.42%	0.30%	-2.84%	0.12%	0.40%	0.00%	0.00%	0.03%	0.20%	0.28%	0.23%
Return on Invested Capital (ROIC)	22.68%	5.60%	7.15%	8.54%	11.85%	7.42%	0.47%	13.52%	17.04%	16.66%	18.00%
ROIC Less NNEP Spread (ROIC-NNEP)	20.95%	2.87%	5.31%	-6.23%	3.04%	0.83%	-4.85%	8.03%	11.08%	10.83%	12.08%
Return on Net Nonoperating Assets (RNNOA)	7.63%	0.97%	1.12%	-1.29%	1.65%	0.63%	-4.82%	9.53%	12.95%	12.62%	13.58%
Return on Equity (ROE)	30.31%	6.57%	8.27%	7.24%	13.50%	8.05%	-4.35%	23.05%	29.99%	29.27%	31.58%
Cash Return on Invested Capital (CROIC)	21.70%	-162.50%	-3.51%	7.74%	-66.10%	6.32%	5.21%	21.63%	13.96%	15.80%	19.08%
Operating Return on Assets (OROA)	20.14%	4.26%	3.77%	6.13%	8.87%	5.83%	0.55%	11.10%	13.80%	13.57%	14.28%
Return on Assets (ROA)	19.73%	3.85%	5.36%	4.52%	6.82%	3.67%	-1.79%	8.65%	11.18%	10.99%	11.77%
Return on Common Equity (ROCE)	21.20%	6.56%	7.87%	6.56%	12.44%	7.52%	-4.02%	30.56%	39.94%	26.75%	29.79%
Return on Equity Simple (ROE_SIMPLE)	52.30%	3.45%	8.11%	8.52%	11.42%	8.94%	-5.38%	13.51%	32.32%	31.85%	32.09%
Net Operating Profit after Tax (NOPAT)	244	380	942	1,190	2,717	2,377	148	3,991	4,901	4,886	5,276
NOPAT Margin	30.77%	34.50%	31.10%	30.76%	38.79%	26.29%	1.62%	39.80%	42.20%	43.32%	44.21%
Net Nonoperating Expense Percent (NNEP)	1.73%	2.74%	1.84%	14.77%	8.81%	6.59%	5.32%	5.48%	5.95%	5.83%	5.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	15.15%	14.75%	15.18%
Cost of Revenue to Revenue	48.17%	40.96%	36.81%	43.91%	41.06%	41.06%	20.40%	42.22%	43.24%	41.29%	40.26%
SG&A Expenses to Revenue	10.21%	11.35%	7.49%	6.23%	4.51%	4.29%	4.14%	3.52%	2.88%	3.36%	3.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	20.93%	24.43%	32.95%	25.29%	20.00%	32.65%	60.09%	17.97%	14.47%	15.27%	15.43%
Earnings before Interest and Taxes (EBIT)	244	369	633	1,135	2,609	2,324	211	3,992	4,911	4,900	5,288
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	320	503	1,270	1,871	3,531	3,620	1,649	5,349	6,214	6,168	6,625
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.58	0.16	0.57	0.81	0.79	1.04	1.28	1.07	2.21	2.67	3.53
Price to Tangible Book Value (P/TBV)	7.25	0.23	0.75	1.11	2.24	3.06	3.94	1.70	6.86	7.99	8.84
Price to Revenue (P/Rev)	3.22	1.39	2.08	2.05	1.98	1.88	1.79	2.46	2.34	2.94	4.01
Price to Earnings (P/E)	21.09	9.81	9.57	7.57	7.96	18.15	0.00	8.03	7.12	8.67	11.16
Dividend Yield	3.96%	9.12%	11.60%	11.58%	14.25%	16.53%	17.47%	11.43%	10.68%	11.92%	7.46%
Earnings Yield	4.74%	10.19%	10.45%	13.21%	12.56%	5.51%	0.00%	12.46%	14.05%	11.54%	8.96%
Enterprise Value to Invested Capital (EV/IC)	2.94	0.34	0.65	0.86	0.88	1.01	1.10	1.43	1.50	1.70	2.17
Enterprise Value to Revenue (EV/Rev)	4.00	3.90	2.98	3.10	3.99	3.61	3.68	4.04	3.77	4.43	5.30
Enterprise Value to EBITDA (EV/EBITDA)	9.92	8.54	7.11	6.41	7.92	9.01	20.42	7.57	7.05	8.10	9.54
Enterprise Value to EBIT (EV/EBIT)	13.01	11.65	14.27	10.57	10.72	14.03	159.60	10.14	8.92	10.20	11.95
Enterprise Value to NOPAT (EV/NOPAT)	13.01	11.31	9.59	10.09	10.30	13.72	228.01	10.14	8.94	10.22	11.98
Enterprise Value to Operating Cash Flow (EV/OCF)	9.51	10.07	6.06	6.29	9.11	7.99	7.45	8.24	8.73	9.26	10.63
Enterprise Value to Free Cash Flow (EV/FCFF)	13.60	0.00	0.00	11.13	0.00	16.09	20.55	6.34	10.92	10.78	11.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.39	0.54	0.37	0.63	0.96	1.12	1.44	1.43	1.46	1.50	1.50
Long-Term Debt to Equity	1.39	0.54	0.37	0.63	0.96	1.12	1.39	1.39	1.39	1.42	1.37
Financial Leverage	0.36	0.34	0.21	0.21	0.54	0.76	0.99	1.19	1.17	1.17	1.12
Leverage Ratio	1.54	1.71	1.54	1.60	1.98	2.20	2.43	2.66	2.68	2.66	2.68
Compound Leverage Factor	1.51	1.55	1.03	1.18	1.53	1.38	-7.90	2.08	2.18	2.16	2.22
Debt to Total Capital	58.18%	35.22%	26.75%	38.76%	48.89%	52.86%	59.02%	58.79%	59.43%	60.06%	59.92%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	2.24%	1.58%	2.97%	3.34%	4.84%
Long-Term Debt to Total Capital	58.18%	35.22%	26.75%	38.76%	48.89%	52.83%	56.78%	57.21%	56.46%	56.73%	55.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.54%	0.09%	6.16%	6.40%	3.16%	3.26%	3.55%	3.82%	3.62%	3.32%	1.24%
Common Equity to Total Capital	41.28%	64.70%	67.09%	54.77%	47.90%	43.84%	37.43%	72.90%	36.95%	36.61%	38.84%
Debt to EBITDA	2.01	10.45	3.48	3.71	5.08	5.45	12.21	3.47	3.19	3.31	3.16
Net Debt to EBITDA	1.93	5.48	1.35	1.57	3.67	3.98	9.76	2.73	2.49	2.54	2.25
Long-Term Debt to EBITDA	2.01	10.45	3.48	3.71	5.08	5.44	11.75	3.38	3.03	3.13	2.91
Debt to NOPAT	2.64	13.83	4.69	5.84	6.60	8.29	136.35	4.65	4.04	4.18	3.97
Net Debt to NOPAT	2.53	7.25	1.82	2.46	4.76	6.07	108.92	3.65	3.16	3.20	2.82
Long-Term Debt to NOPAT	2.64	13.83	4.69	5.84	6.60	8.29	131.18	4.53	3.84	3.95	3.65
Altman Z-Score	3.35	0.28	1.00	0.90	0.78	0.84	0.69	1.25	1.50	1.63	2.01
Noncontrolling Interest Sharing Ratio	30.05%	0.19%	4.73%	9.44%	7.86%	6.63%	7.75%	-32.58%	-33.19%	8.62%	5.67%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.96	0.92	1.14	0.43	0.63	0.70	0.73	0.45	0.79	1.07	1.01
Quick Ratio	0.77	0.76	1.02	0.35	0.30	0.29	0.55	0.39	0.71	1.00	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	233	-11,014	-463	1,079	-15,155	2,026	1,639	6,387	4,015	4,634	5,591
Operating Cash Flow to CapEx	236.88%	127.84%	113.64%	135.83%	146.03%	171.66%	401.15%	1,218.61%	695.15%	592.43%	563.60%
Free Cash Flow to Firm to Interest Expense	58.37	-314.69	-2.19	3.62	-25.47	2.35	1.83	8.05	4.34	5.02	6.07
Operating Cash Flow to Interest Expense	83.50	12.20	7.07	6.40	5.16	4.74	5.05	6.19	5.43	5.85	6.46
Operating Cash Flow Less CapEx to Interest Expense	48.25	2.66	0.85	1.69	1.63	1.98	3.79	5.68	4.65	4.86	5.31
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.13	0.18	0.21	0.24	0.23	0.24	0.28	0.33	0.31	0.32
Accounts Receivable Turnover	14.22	4.56	6.19	7.75	13.18	15.02	10.62	8.26	8.40	7.43	7.65
Inventory Turnover	32.37	14.32	21.04	28.30	35.29	35.69	16.36	32.56	34.63	30.35	28.34
Fixed Asset Turnover	0.80	0.20	0.28	0.33	0.42	0.41	0.42	0.49	0.00	0.00	0.00
Accounts Payable Turnover	9.88	5.04	5.99	3.80	6.17	14.61	4.97	3.44	4.62	24.71	32.03
Days Sales Outstanding (DSO)	25.66	80.06	58.93	47.10	27.69	24.30	34.38	44.17	43.44	49.13	47.70
Days Inventory Outstanding (DIO)	11.27	25.49	17.35	12.90	10.34	10.23	22.31	11.21	10.54	12.03	12.88
Days Payable Outstanding (DPO)	36.93	72.43	60.89	96.09	59.20	24.98	73.39	106.06	79.08	14.77	11.40
Cash Conversion Cycle (CCC)	0.01	33.12	15.39	-36.09	-21.17	9.55	-16.70	-50.68	-25.10	46.39	49.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,081	12,475	13,880	13,991	31,863	32,214	30,723	28,327	29,213	29,465	29,150
Invested Capital Turnover	0.74	0.16	0.23	0.28	0.31	0.28	0.29	0.34	0.40	0.38	0.41
Increase / (Decrease) in Invested Capital	11	11,394	1,405	111	17,872	351	-1,491	-2,396	886	252	-315
Enterprise Value (EV)	3,175	4,298	9,031	12,002	27,978	32,606	33,676	40,485	43,827	49,961	63,196
Market Capitalization	2,552	1,531	6,296	7,926	13,874	16,966	16,375	24,702	27,159	33,191	47,864
Book Value per Share	$6.06	$117.77	$30.84	$23.62	$22.11	$15.45	$12.28	$22.58	$12.27	$12.44	$13.33
Tangible Book Value per Share	$4.67	$80.73	$23.23	$17.13	$7.79	$5.24	$4.00	$14.26	$3.95	$4.15	$5.31
Total Capital	1,107	14,922	16,532	17,918	36,657	37,294	34,124	31,588	33,310	34,015	34,958
Total Debt	644	5,255	4,422	6,945	17,922	19,713	20,139	18,571	19,796	20,431	20,948
Total Long-Term Debt	644	5,255	4,422	6,945	17,922	19,704	19,375	18,072	18,808	19,296	19,255
Net Debt	617	2,754	1,717	2,930	12,944	14,423	16,088	14,577	15,463	15,640	14,898
Capital Expenditures (CapEx)	141	334	1,312	1,404	2,103	2,378	1,127	403	722	911	1,055
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-31	-92	-129	-750	-905	-654	178	-1,355	254	271	215
Debt-free Net Working Capital (DFNWC)	-4.00	-49	105	-745	-828	-639	193	-1,342	492	1,319	1,734
Net Working Capital (NWC)	-4.00	-49	105	-745	-828	-648	-571	-1,841	-496	184	41
Net Nonoperating Expense (NNE)	4.98	47	42	354	711	915	835	879	923	920	919
Net Nonoperating Obligations (NNO)	618	2,808	1,770	3,018	13,128	14,633	16,738	15,310	15,699	15,881	15,140
Total Depreciation and Amortization (D&A)	76	134	637	736	922	1,296	1,438	1,357	1,303	1,268	1,337
Debt-free, Cash-free Net Working Capital to Revenue	-3.91%	-8.36%	-4.26%	-19.39%	-12.92%	-7.23%	1.95%	-13.51%	2.19%	2.40%	1.80%
Debt-free Net Working Capital to Revenue	-0.50%	-4.45%	3.47%	-19.27%	-11.82%	-7.07%	2.11%	-13.38%	4.24%	11.69%	14.53%
Net Working Capital to Revenue	-0.50%	-4.45%	3.47%	-19.27%	-11.82%	-7.17%	-6.25%	-18.36%	-4.27%	1.63%	0.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$1.34	$0.00	$1.07	$2.29	$1.00	($0.80)	$2.86	$3.75	$3.80	$4.21
Adjusted Weighted Average Basic Shares Outstanding	75.90M	99M	676M	778M	1.52B	1.81B	2.10B	1.03B	1.01B	1.00B	1.02B
Adjusted Diluted Earnings per Share	$0.00	$1.33	$0.00	$1.06	$2.29	$1.00	($0.80)	$2.86	$3.75	$3.80	$4.21
Adjusted Weighted Average Diluted Shares Outstanding	75.90M	100M	690M	784M	1.52B	1.81B	2.10B	1.03B	1.01B	1.00B	1.02B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	75.90M	99M	0.00	0.00	761M	906M	1.05B	1.03B	1.01B	1.00B	1.02B
Normalized Net Operating Profit after Tax (NOPAT)	244	380	732	1,190	2,717	2,502	1,689	4,033	4,901	4,886	5,276
Normalized NOPAT Margin	30.77%	34.50%	24.17%	30.76%	38.79%	27.67%	18.48%	40.22%	42.20%	43.32%	44.21%
Pre Tax Income Margin	30.26%	30.34%	13.93%	21.64%	28.75%	16.17%	-7.49%	31.05%	34.32%	35.25%	36.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	61.00	10.54	3.00	3.81	4.38	2.70	0.24	5.03	5.31	5.31	5.74
NOPAT to Interest Expense	60.99	10.85	4.46	3.99	4.57	2.76	0.16	5.03	5.30	5.29	5.73
EBIT Less CapEx to Interest Expense	25.75	1.00	-3.22	-0.90	0.85	-0.06	-1.02	4.53	4.53	4.32	4.60
NOPAT Less CapEx to Interest Expense	25.74	1.31	-1.75	-0.72	1.03	0.00	-1.09	4.52	4.52	4.31	4.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	73.22%	47.75%	97.00%	142.58%	95.06%	209.92%	-442.94%	116.07%	77.55%	84.14%	83.70%
Augmented Payout Ratio	73.22%	47.75%	97.00%	142.58%	95.06%	209.92%	-447.74%	136.31%	89.89%	84.14%	91.19%

This table displays calculated financial ratios and metrics derived from Mplx's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.93%	3.95%	-8.50%	-14.38%	11.42%	4.90%	13.46%	2.06%	3.27%	9.77%	-1.61%
EBITDA Growth	-4.95%	8.48%	3.60%	-26.42%	22.49%	4.77%	17.10%	9.74%	-0.83%	7.65%	-7.42%
EBIT Growth	-5.53%	12.83%	5.19%	-31.06%	29.72%	4.60%	20.77%	10.49%	-2.33%	9.19%	-8.88%
NOPAT Growth	-5.75%	13.39%	5.19%	-31.09%	29.02%	4.61%	20.56%	10.39%	-2.00%	9.20%	-8.81%
Net Income Growth	-1.67%	14.29%	6.56%	-35.42%	38.84%	6.62%	25.90%	12.82%	-3.06%	11.92%	-10.79%
EPS Growth	0.00%	16.67%	9.64%	-34.56%	39.74%	7.69%	26.37%	13.48%	-1.83%	12.24%	-10.43%
Operating Cash Flow Growth	10.32%	9.07%	-3.36%	19.73%	8.85%	5.22%	8.91%	13.75%	12.49%	-3.49%	10.93%
Free Cash Flow Firm Growth	-95.13%	79.06%	-14.74%	270.24%	548.80%	-69.16%	-29.97%	-58.34%	48.52%	116.52%	59.98%
Invested Capital Growth	3.13%	-3.55%	-0.55%	-2.83%	0.86%	1.90%	1.67%	1.53%	-1.07%	-0.49%	-0.70%
Revenue Q/Q Growth	-21.73%	1.92%	-0.85%	8.25%	1.85%	-4.05%	7.24%	-2.62%	3.06%	1.99%	-3.87%
EBITDA Q/Q Growth	-30.68%	9.11%	-0.80%	-1.94%	15.40%	-6.67%	10.88%	-8.10%	4.28%	1.31%	-4.64%
EBIT Q/Q Growth	-36.68%	12.83%	-1.76%	-1.79%	19.15%	-9.02%	13.43%	-10.15%	5.33%	1.71%	-5.34%
NOPAT Q/Q Growth	-36.79%	12.99%	-1.65%	-1.89%	18.35%	-8.39%	13.35%	-10.17%	5.06%	2.08%	-5.35%
Net Income Q/Q Growth	-42.66%	15.53%	-1.05%	-1.49%	23.28%	-11.28%	16.85%	-11.72%	5.92%	2.43%	-6.87%
EPS Q/Q Growth	-42.65%	16.67%	0.00%	-2.20%	22.47%	-10.09%	17.35%	-12.17%	5.94%	2.80%	-6.36%
Operating Cash Flow Q/Q Growth	31.67%	-10.31%	17.11%	-13.43%	19.69%	-13.30%	21.22%	-9.58%	18.37%	-25.61%	39.33%
Free Cash Flow Firm Q/Q Growth	114.64%	1,219.90%	-40.96%	49.23%	-44.21%	-37.27%	34.09%	-11.23%	98.90%	-8.55%	-0.93%
Invested Capital Q/Q Growth	-1.65%	-0.74%	-0.49%	0.02%	2.09%	0.29%	-0.72%	-0.11%	-0.53%	0.87%	-0.93%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.38%	72.69%	85.99%	54.98%	24.85%	73.19%	86.60%	58.41%	21.78%	71.25%	70.76%
EBITDA Margin	51.95%	55.62%	55.65%	50.41%	57.11%	55.55%	57.44%	54.21%	54.85%	54.48%	54.05%
Operating Margin	39.82%	44.08%	43.68%	39.63%	46.36%	43.96%	46.49%	42.90%	43.85%	43.73%	43.06%
EBIT Margin	39.82%	44.08%	43.68%	39.63%	46.36%	43.96%	46.49%	42.90%	43.85%	43.73%	43.06%
Profit (Net Income) Margin	30.95%	35.09%	35.02%	31.87%	38.57%	35.66%	38.86%	35.23%	36.21%	36.36%	35.23%
Tax Burden Percent	99.76%	99.90%	100.00%	99.89%	99.22%	99.90%	99.83%	99.81%	99.55%	99.91%	99.91%
Interest Burden Percent	77.92%	79.68%	80.17%	80.50%	83.85%	81.22%	83.72%	82.27%	82.95%	83.24%	81.90%
Effective Tax Rate	0.24%	0.10%	0.00%	0.11%	0.78%	0.10%	0.17%	0.19%	0.45%	0.09%	0.09%
Return on Invested Capital (ROIC)	16.03%	17.47%	17.31%	14.84%	17.69%	17.12%	18.79%	17.43%	17.77%	18.10%	17.90%
ROIC Less NNEP Spread (ROIC-NNEP)	14.53%	16.00%	15.83%	13.42%	16.29%	15.65%	17.30%	15.96%	16.30%	16.63%	16.36%
Return on Net Nonoperating Assets (RNNOA)	16.98%	20.28%	19.01%	15.73%	18.99%	18.67%	19.89%	18.05%	18.33%	18.75%	17.89%
Return on Equity (ROE)	33.02%	37.75%	36.32%	30.57%	36.67%	35.79%	38.67%	35.48%	36.10%	36.85%	35.78%
Cash Return on Invested Capital (CROIC)	13.96%	20.69%	18.18%	18.51%	15.80%	14.99%	16.16%	16.71%	19.08%	18.78%	18.72%
Operating Return on Assets (OROA)	12.99%	14.47%	13.98%	12.10%	14.49%	13.91%	14.74%	13.61%	14.13%	14.16%	13.74%
Return on Assets (ROA)	10.10%	11.52%	11.21%	9.73%	12.05%	11.29%	12.32%	11.17%	11.67%	11.77%	11.24%
Return on Common Equity (ROCE)	43.97%	34.26%	32.99%	27.84%	33.51%	33.11%	36.33%	33.35%	34.05%	35.48%	34.93%
Return on Equity Simple (ROE_SIMPLE)	0.00%	34.59%	34.67%	30.11%	0.00%	31.35%	31.77%	32.42%	0.00%	32.36%	0.00%
Net Operating Profit after Tax (NOPAT)	1,057	1,195	1,175	1,153	1,364	1,250	1,417	1,273	1,337	1,365	1,292
NOPAT Margin	39.72%	44.04%	43.68%	39.59%	46.00%	43.91%	46.42%	42.82%	43.65%	43.69%	43.02%
Net Nonoperating Expense Percent (NNEP)	1.51%	1.47%	1.48%	1.42%	1.40%	1.47%	1.48%	1.46%	1.47%	1.46%	1.53%
Return On Investment Capital (ROIC_SIMPLE)	3.27%	-	-	-	4.12%	-	-	-	3.85%	3.74%	3.66%
Cost of Revenue to Revenue	83.62%	27.31%	14.01%	45.02%	75.15%	26.81%	13.40%	41.59%	78.22%	28.75%	29.24%
SG&A Expenses to Revenue	3.27%	3.28%	3.31%	3.50%	3.34%	3.83%	3.51%	3.60%	3.40%	3.59%	3.56%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-23.44%	28.60%	42.30%	15.35%	-21.51%	29.23%	40.10%	15.51%	-22.07%	27.53%	27.71%
Earnings before Interest and Taxes (EBIT)	1,060	1,196	1,175	1,154	1,375	1,251	1,419	1,275	1,343	1,366	1,293
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,383	1,509	1,497	1,468	1,694	1,581	1,753	1,611	1,680	1,702	1,623
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.21	2.66	2.59	2.70	2.67	3.24	3.22	3.35	3.53	3.95	3.80
Price to Tangible Book Value (P/TBV)	6.86	8.94	8.41	8.47	7.99	9.07	8.29	8.48	8.84	9.66	9.26
Price to Revenue (P/Rev)	2.34	2.69	2.71	2.97	2.94	3.65	3.68	3.83	4.01	4.48	4.32
Price to Earnings (P/E)	7.12	7.75	7.52	8.99	8.67	10.38	10.14	10.30	11.16	12.38	12.23
Dividend Yield	10.68%	9.41%	9.76%	9.51%	11.92%	7.82%	7.81%	7.65%	7.46%	6.75%	7.22%
Earnings Yield	14.05%	12.91%	13.29%	11.12%	11.54%	9.63%	9.86%	9.71%	8.96%	8.08%	8.17%
Enterprise Value to Invested Capital (EV/IC)	1.50	1.67	1.66	1.71	1.70	1.97	2.01	2.08	2.17	2.38	2.32
Enterprise Value to Revenue (EV/Rev)	3.77	4.14	4.17	4.48	4.43	5.09	5.00	5.15	5.30	5.74	5.56
Enterprise Value to EBITDA (EV/EBITDA)	7.05	7.67	7.49	8.40	8.10	9.31	9.07	9.17	9.54	10.39	10.22
Enterprise Value to EBIT (EV/EBIT)	8.92	9.62	9.37	10.73	10.20	11.73	11.33	11.45	11.95	12.97	12.82
Enterprise Value to NOPAT (EV/NOPAT)	8.94	9.63	9.38	10.74	10.22	11.76	11.37	11.49	11.98	13.00	12.84
Enterprise Value to Operating Cash Flow (EV/OCF)	8.73	9.48	9.43	9.33	9.26	10.64	10.54	10.58	10.63	11.88	11.14
Enterprise Value to Free Cash Flow (EV/FCFF)	10.92	7.95	9.09	9.08	10.78	13.24	12.53	12.53	11.30	12.66	12.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.46	1.56	1.55	1.53	1.50	1.50	1.59	1.58	1.50	1.59	1.51
Long-Term Debt to Equity	1.39	1.56	1.55	1.53	1.42	1.38	1.39	1.38	1.37	1.40	1.40
Financial Leverage	1.17	1.27	1.20	1.17	1.17	1.19	1.15	1.13	1.12	1.13	1.09
Leverage Ratio	2.68	2.74	2.73	2.67	2.66	2.70	2.74	2.73	2.68	2.72	2.73
Compound Leverage Factor	2.09	2.18	2.18	2.15	2.23	2.19	2.30	2.25	2.23	2.27	2.24
Debt to Total Capital	59.43%	60.98%	60.74%	60.53%	60.06%	59.97%	61.38%	61.23%	59.92%	61.44%	60.17%
Short-Term Debt to Total Capital	2.97%	0.00%	0.00%	0.00%	3.34%	4.81%	7.86%	7.86%	4.84%	7.39%	4.25%
Long-Term Debt to Total Capital	56.46%	60.98%	60.74%	60.52%	56.73%	55.16%	53.52%	53.37%	55.08%	54.05%	55.92%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.62%	3.60%	3.59%	3.58%	3.32%	2.33%	1.21%	1.21%	1.24%	0.63%	0.65%
Common Equity to Total Capital	36.95%	35.41%	35.67%	35.90%	36.61%	37.70%	37.41%	37.56%	38.84%	37.93%	39.18%
Debt to EBITDA	3.19	3.22	3.20	3.49	3.31	3.28	3.40	3.33	3.16	3.32	3.21
Net Debt to EBITDA	2.49	2.50	2.43	2.62	2.54	2.52	2.34	2.27	2.25	2.24	2.24
Long-Term Debt to EBITDA	3.03	3.22	3.20	3.49	3.13	3.01	2.96	2.90	2.91	2.92	2.98
Debt to NOPAT	4.04	4.04	4.00	4.46	4.18	4.14	4.26	4.16	3.97	4.16	4.03
Net Debt to NOPAT	3.16	3.14	3.04	3.35	3.20	3.18	2.93	2.85	2.82	2.81	2.81
Long-Term Debt to NOPAT	3.84	4.04	4.00	4.46	3.95	3.81	3.71	3.63	3.65	3.66	3.75
Altman Z-Score	1.14	1.30	1.28	1.31	1.31	1.49	1.49	1.52	1.66	1.76	1.76
Noncontrolling Interest Sharing Ratio	-33.19%	9.25%	9.16%	8.94%	8.62%	7.49%	6.06%	6.01%	5.67%	3.70%	2.38%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.79	1.53	1.76	1.96	1.07	0.72	0.99	0.99	1.01	1.08	1.03
Quick Ratio	0.71	1.38	1.62	1.82	1.00	0.66	0.95	0.94	0.95	1.03	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	171	2,263	1,336	1,994	1,112	698	936	831	1,652	1,511	1,497
Operating Cash Flow to CapEx	524.14%	726.04%	546.39%	557.85%	543.43%	506.27%	734.74%	505.36%	545.60%	468.42%	576.74%
Free Cash Flow to Firm to Interest Expense	0.68	9.31	5.73	8.86	5.01	2.97	4.05	3.68	7.21	6.60	6.40
Operating Cash Flow to Interest Expense	5.41	5.05	6.17	5.53	6.71	5.49	6.77	6.26	7.31	5.44	7.42
Operating Cash Flow Less CapEx to Interest Expense	4.38	4.35	5.04	4.54	5.47	4.41	5.85	5.02	5.97	4.28	6.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.33	0.32	0.31	0.31	0.32	0.32	0.32	0.32	0.32	0.32
Accounts Receivable Turnover	8.40	7.89	7.93	6.79	7.43	7.69	8.22	7.45	7.65	7.35	7.96
Inventory Turnover	34.63	34.19	28.30	30.52	30.35	30.79	30.01	28.54	28.34	28.30	27.93
Fixed Asset Turnover	0.00	0.61	0.00	0.59	0.00	0.60	0.00	0.63	0.00	0.64	0.00
Accounts Payable Turnover	4.62	28.09	9.71	11.86	24.71	34.54	36.96	36.80	32.03	35.65	36.43
Days Sales Outstanding (DSO)	43.44	46.25	46.02	53.72	49.13	47.49	44.42	48.97	47.70	49.66	45.87
Days Inventory Outstanding (DIO)	10.54	10.68	12.90	11.96	12.03	11.85	12.16	12.79	12.88	12.90	13.07
Days Payable Outstanding (DPO)	79.08	13.00	37.59	30.78	14.77	10.57	9.88	9.92	11.40	10.24	10.02
Cash Conversion Cycle (CCC)	-25.10	43.93	21.32	34.90	46.39	48.77	46.70	51.84	49.18	52.33	48.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	29,213	28,998	28,855	28,862	29,465	29,550	29,336	29,304	29,150	29,404	29,131
Invested Capital Turnover	0.40	0.40	0.40	0.37	0.38	0.39	0.40	0.41	0.41	0.41	0.42
Increase / (Decrease) in Invested Capital	886	-1,068	-161	-841	252	552	481	442	-315	-146	-205
Enterprise Value (EV)	43,827	48,562	47,824	49,210	49,961	58,122	58,913	60,912	63,196	70,088	67,626
Market Capitalization	27,159	31,500	31,092	32,645	33,191	41,611	43,280	45,375	47,864	54,725	52,582
Book Value per Share	$12.27	$11.83	$11.97	$12.10	$12.44	$12.75	$13.24	$13.27	$13.33	$13.53	$13.54
Tangible Book Value per Share	$3.95	$3.52	$3.69	$3.85	$4.15	$4.55	$5.14	$5.24	$5.31	$5.54	$5.56
Total Capital	33,310	33,442	33,595	33,734	34,015	34,091	35,958	36,068	34,958	36,486	35,274
Total Debt	19,796	20,394	20,406	20,418	20,431	20,444	22,072	22,086	20,948	22,418	21,225
Total Long-Term Debt	18,808	20,393	20,405	20,417	19,296	18,805	19,245	19,250	19,255	19,721	19,725
Net Debt	15,463	15,857	15,527	15,359	15,640	15,716	15,198	15,102	14,898	15,133	14,815
Capital Expenditures (CapEx)	261	169	263	223	274	255	213	280	307	266	301
Debt-free, Cash-free Net Working Capital (DFCFNWC)	254	308	251	378	271	433	296	361	215	515	218
Debt-free Net Working Capital (DFNWC)	492	701	1,006	1,338	1,319	818	2,797	2,787	1,734	3,049	1,604
Net Working Capital (NWC)	-496	700	1,005	1,337	184	-821	-30	-49	41	352	104
Net Nonoperating Expense (NNE)	233	243	233	225	220	235	231	226	228	229	234
Net Nonoperating Obligations (NNO)	15,699	15,950	15,666	15,546	15,881	15,903	15,450	15,322	15,140	15,336	15,082
Total Depreciation and Amortization (D&A)	323	313	322	314	319	330	334	336	337	336	330
Debt-free, Cash-free Net Working Capital to Revenue	2.19%	2.63%	2.19%	3.44%	2.40%	3.79%	2.51%	3.05%	1.80%	4.22%	1.79%
Debt-free Net Working Capital to Revenue	4.24%	5.98%	8.77%	12.19%	11.69%	7.17%	23.75%	23.55%	14.53%	24.97%	13.19%
Net Working Capital to Revenue	-4.27%	5.97%	8.77%	12.18%	1.63%	-7.19%	-0.25%	-0.41%	0.34%	2.88%	0.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.91	$0.91	$0.89	$1.09	$0.98	$1.15	$1.01	$1.07	$1.10	$1.03
Adjusted Weighted Average Basic Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Adjusted Diluted Earnings per Share	$0.78	$0.91	$0.91	$0.89	$1.09	$0.98	$1.15	$1.01	$1.07	$1.10	$1.03
Adjusted Weighted Average Diluted Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.00B	1.00B	1.00B	1.00B	1.01B	1.02B	1.02B	1.02B	1.02B	1.02B
Normalized Net Operating Profit after Tax (NOPAT)	1,057	1,195	823	1,153	1,364	1,250	1,417	1,273	1,337	1,365	1,292
Normalized NOPAT Margin	39.72%	44.04%	30.58%	39.59%	46.00%	43.91%	46.42%	42.82%	43.65%	43.69%	43.02%
Pre Tax Income Margin	31.03%	35.13%	35.02%	31.90%	38.87%	35.70%	38.93%	35.30%	36.37%	36.40%	35.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.19	4.92	5.04	5.13	6.19	5.32	6.14	5.64	5.86	5.97	5.53
NOPAT to Interest Expense	4.18	4.92	5.04	5.12	6.15	5.32	6.13	5.63	5.84	5.96	5.52
EBIT Less CapEx to Interest Expense	3.16	4.23	3.91	4.14	4.96	4.24	5.22	4.40	4.52	4.80	4.24
NOPAT Less CapEx to Interest Expense	3.15	4.22	3.91	4.13	4.91	4.23	5.21	4.39	4.50	4.80	4.23
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	77.55%	76.86%	77.30%	89.33%	84.14%	84.21%	81.21%	80.69%	83.70%	83.72%	88.53%
Augmented Payout Ratio	89.89%	86.40%	85.87%	94.16%	84.14%	86.08%	84.72%	85.84%	91.19%	91.56%	97.17%

Key Financial Trends

MPLX LP has demonstrated consistent financial performance and growth over the last four years through its quarterly reports ending Q2 2025. Here are key takeaways and trends from the income statements, balance sheets, and cash flow statements analyzed:

Steady Revenue Growth: Operating revenue rose from approximately $2.71 billion in Q1 2023 to $3.00 billion in Q2 2025, indicating steady top-line growth.
Improving Net Income: Consolidated net income increased from roughly $915 million in Q1 2023 to $1.058 billion in Q2 2025, showing improved profitability across periods.
Strong Operating Cash Flow: Net cash from operating activities consistently stayed robust, peaking at $1.736 billion in Q2 2025. This reflects strong cash generation from core business operations.
Capital Investment Supporting Growth: Sustained purchases of property, plant, and equipment (around $200-$300 million quarterly) suggest ongoing reinvestment in assets to support business expansion and operations.
Managed Debt Behavior: Although long-term debt remains elevated near $19.7 billion in Q2 2025, there have been sizeable repayments (e.g., $1.2 billion in Q2 2025) indicating disciplined management of leverage.
Consistent Dividend Payments: Dividends remain steady around $0.95 per share quarterly, reflecting a commitment to returning capital to shareholders.
Large Goodwill and Intangible Assets: Goodwill is about $7.6 billion consistently, with intangible assets near $500 million to $600 million, indicating significant past acquisitions but posing valuation risk if impaired.
Stable Share Count: Weighted average diluted shares outstanding have remained steady around 1.02 billion shares, indicating limited dilution from equity issuance.
Negative Net Investing Cash Flow: Significant cash outflows in investing activities (e.g., $602 million in Q2 2025) mainly from acquisitions and capital expenditures could pressure liquidity if not balanced by operating cash flow.
Large Dividends and Buybacks Impact Financing Cash Flow: Financing activities show large outflows (e.g., $2.282 billion in Q2 2025) driven by debt repayments, dividend payments, and stock repurchases, which may strain cash reserves if continuing aggressively.

In summary, MPLX LP is showing solid revenue and earnings growth, backed by strong operating cash flow and disciplined debt management. However, attention should be paid to the sizeable capital expenditure and financing outflows, which may elevate liquidity risk if operating performance weakens. The company’s steady dividend payouts and stable share base support investor returns, though the high goodwill balance warrants monitoring for potential impairment risk.

08/18/25 04:45 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Mplx's Financials

When does Mplx's fiscal year end?

According to the most recent income statement we have on file, Mplx's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Mplx's net income changed over the last 10 years?

Mplx's net income appears to be on an upward trend, with a most recent value of $4.36 billion in 2024, rising from $239 million in 2014. The previous period was $3.97 billion in 2023. Find out what analysts predict for Mplx in the coming months.

What is Mplx's operating income?

Mplx's total operating income in 2024 was $5.29 billion, based on the following breakdown:

Total Gross Profit: $7.13 billion
Total Operating Expenses: $1.84 billion

How has Mplx's revenue changed over the last 10 years?

Over the last 10 years, Mplx's total revenue changed from $793 million in 2014 to $11.93 billion in 2024, a change of 1,404.8%.

How much debt does Mplx have?

Mplx's total liabilities were at $23.50 billion at the end of 2024, a 2.4% increase from 2023, and a 3,029.3% increase since 2014.

How much cash does Mplx have?

In the past 10 years, Mplx's cash and equivalents has ranged from $5 million in 2017 to $1.52 billion in 2024, and is currently $1.52 billion as of their latest financial filing in 2024.

How has Mplx's book value per share changed over the last 10 years?

Over the last 10 years, Mplx's book value per share changed from 6.06 in 2014 to 13.33 in 2024, a change of 119.9%.

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This page (NYSE:MPLX) was last updated on 8/18/2025 by MarketBeat.com Staff

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