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Mplx (MPLX) Financials

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$54.76 +0.37 (+0.68%)
Closing price 05/13/2026 03:59 PM Eastern
Extended Trading
$54.58 -0.18 (-0.33%)
As of 05/13/2026 07:55 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Mplx

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 156 658 1,047 1,743 935 -206 3,077 3,815 3,829 4,290 4,912
Consolidated Net Income / (Loss)		 333 900 836 2,006 1,462 -687 3,112 3,978 3,966 4,357 4,952
Net Income / (Loss) Continuing Operations		 333 900 836 2,006 1,462 -51 3,112 3,978 3,966 4,367 4,960
Total Pre-Tax Income 		334 422 837 2,014 1,462 -685 3,113 3,986 3,977 4,367 4,960
Total Operating Income		 381 916 1,191 2,728 2,377 211 3,992 4,911 4,900 5,288 5,943
Total Gross Profit		 650 1,914 2,169 4,129 5,329 7,276 5,794 6,591 6,623 7,129 7,877
Total Revenue		 1,101 3,029 3,867 7,005 9,041 9,141 10,027 11,613 11,281 11,933 12,998
Operating Revenue		 1,101 3,029 3,867 6,998 9,041 9,141 10,027 11,613 11,281 11,933 12,998
Total Cost of Revenue		 451 1,115 1,698 2,876 3,712 1,865 4,233 5,022 4,658 4,804 5,121
Operating Cost of Revenue		 451 1,115 1,698 2,876 3,712 1,865 4,233 5,022 4,658 4,804 5,121
Total Operating Expenses		 269 998 978 1,401 2,952 5,493 1,802 1,680 1,723 1,841 1,934
Selling, General & Admin Expense		 125 227 241 316 388 378 353 335 379 427 446
Depreciation Expense		 129 591 683 867 1,254 1,377 1,287 1,230 1,213 1,283 1,351
Other Operating Expenses / (Income)		 15 50 54 218 113 1,536 120 115 131 131 137
Total Other Income / (Expense), net		 -47 -28 -354 -714 -915 -1,832 -879 -925 -923 -931 -991
Interest Expense		 35 211 298 595 862 896 793 925 923 921 983
Other Income / (Expense), net		 -12 -283 -56 -119 -53 - - - - -10 -8.00
Preferred Stock Dividends Declared		 0.00 41 65 75 98 122 141 129 99 27 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.00 2.00 6.00 16 28 33 35 34 38 40 40
Basic Earnings per Share		 $1.34 $0.00 $1.07 $2.29 $1.00 ($0.80) $2.86 $3.75 $3.80 $4.21 $4.82
Weighted Average Basic Shares Outstanding		 99M 676M 786M 1.52B 906M 1.05B 1.03B 1.01B 1.00B 1.02B 1.02B
Diluted Earnings per Share		 $1.33 $0.00 $1.06 $2.29 $1.00 ($0.80) $2.86 $3.75 $3.80 $4.21 $4.82
Weighted Average Diluted Shares Outstanding		 100M 690M 792M 1.52B 907M 1.05B 1.03B 1.01B 1.00B 1.02B 1.02B
Weighted Average Basic & Diluted Shares Outstanding		 99M 338M 393M 761M 906M 1.05B 1.03B 1.01B 1.00B 1.02B 1.02B
Cash Dividends to Common per Share		 - - - - - $2.75 $3.36 $2.96 $3.25 $3.61 $4.07

Quarterly Income Statements for Mplx

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 893 1,111 995 1,171 1,031 1,093 1,126 1,048 1,545 1,193 912
Consolidated Net Income / (Loss)		 928 1,144 1,015 1,186 1,047 1,109 1,136 1,058 1,555 1,203 922
Net Income / (Loss) Continuing Operations		 928 1,144 1,015 1,186 1,047 1,109 1,136 1,058 1,555 1,211 922
Total Pre-Tax Income 		929 1,153 1,016 1,188 1,049 1,114 1,137 1,059 1,558 1,206 923
Total Operating Income		 1,154 1,375 1,251 1,419 1,275 1,343 1,366 1,293 1,801 1,483 1,214
Total Gross Profit		 1,601 737 2,082 2,263 2,140 667 2,226 2,125 2,309 1,217 2,124
Total Revenue		 2,912 2,966 2,846 3,052 2,972 3,063 3,124 3,003 3,619 3,252 3,038
Operating Revenue		 2,912 2,966 2,846 3,052 2,972 3,063 3,124 3,003 3,619 3,252 3,038
Total Cost of Revenue		 1,311 2,229 764 789 832 2,396 898 878 1,310 2,035 914
Operating Cost of Revenue		 1,311 2,229 764 789 832 2,396 898 878 1,310 2,035 914
Total Operating Expenses		 447 -638 831 844 865 -676 860 832 508 -266 910
Selling, General & Admin Expense		 102 99 109 107 107 104 112 107 126 101 114
Depreciation Expense		 301 306 317 320 322 324 326 324 346 355 358
Other Operating Expenses / (Income)		 44 -1,043 405 417 436 -1,104 422 401 36 -722 438
Total Other Income / (Expense), net		 -225 -222 -235 -231 -226 -229 -229 -234 -243 -285 -291
Interest Expense		 225 222 235 231 226 229 229 234 243 277 291
Income Tax Expense		 1.00 9.00 1.00 2.00 2.00 5.00 1.00 1.00 3.00 - 1.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 10 10 10 10 10 10 10 10 10 10 10
Basic Earnings per Share		 $0.89 $1.09 $0.98 $1.15 $1.01 $1.07 $1.10 $1.03 $1.52 $1.17 $0.90
Weighted Average Basic Shares Outstanding		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B
Diluted Earnings per Share		 $0.89 $1.09 $0.98 $1.15 $1.01 $1.07 $1.10 $1.03 $1.52 $1.17 $0.90
Weighted Average Diluted Shares Outstanding		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B
Weighted Average Basic & Diluted Shares Outstanding		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B
Cash Dividends to Common per Share		 $0.85 - $0.85 $0.85 - - $0.96 $0.96 - - $1.08

Annual Cash Flow Statements for Mplx

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 16 187 -230 76 -70 0.00 -2.00 225 810 471 618
Net Cash From Operating Activities		 427 1,491 1,907 3,071 4,082 4,521 4,911 5,019 5,397 5,946 5,909
Net Cash From Continuing Operating Activities		 427 1,491 1,907 3,071 4,082 4,521 4,911 5,019 5,397 5,966 5,909
Net Income / (Loss) Continuing Operations		 333 434 836 2,006 1,462 -687 3,112 3,978 3,966 4,357 4,952
Consolidated Net Income / (Loss)		 333 434 836 2,006 1,462 -687 3,112 3,978 3,966 4,357 4,952
Depreciation Expense		 129 591 683 867 1,254 1,377 1,287 1,230 1,213 1,283 1,351
Amortization Expense		 5.00 46 53 55 42 61 70 73 55 54 30
Non-Cash Adjustments To Reconcile Net Income		 11 345 161 161 1,425 3,564 216 -373 30 27 -478
Changes in Operating Assets and Liabilities, net		 -51 75 174 -18 -101 206 226 111 133 245 54
Net Cash From Investing Activities		 -1,686 -1,417 -2,308 -2,878 -3,063 -1,262 -518 -956 -1,252 -1,995 -4,856
Net Cash From Continuing Investing Activities		 -1,686 -1,417 -2,308 -2,878 -3,063 -1,262 -518 -956 -1,252 -1,995 -4,856
Purchase of Property, Plant & Equipment		 -334 -1,313 -1,411 -2,111 -2,408 -1,183 -529 -806 -937 -1,056 -1,808
Acquisitions		 -1,232 -87 -1,010 -792 -713 -266 -151 -245 -344 -1,086 -4,324
Sale of Property, Plant & Equipment		 0.00 1.00 7.00 8.00 30 56 126 84 26 1.00 975
Sale and/or Maturity of Investments		 0.00 0.00 106 16 18 123 36 11 3.00 146 293
Other Investing Activities, net		 -2.00 -1.00 0.00 1.00 4.00 8.00 - - 0.00 0.00 8.00
Net Cash From Financing Activities		 1,275 113 171 -117 -1,089 -3,259 -4,395 -3,838 -3,335 -3,480 -435
Net Cash From Continuing Financing Activities		 1,275 113 171 -117 -1,089 -3,259 -4,395 -3,838 -3,335 -3,480 -435
Repayment of Debt		 -1,746 -3,858 -2,440 -11,369 -7,363 -7,043 -12,866 -6,674 -1,018 -1,172 -2,582
Repurchase of Preferred Equity		 - - - - - - 0.00 0.00 -600 0.00 0.00
Repurchase of Common Equity		 - - - 0.00 0.00 -33 -630 -491 0.00 -326 -400
Payment of Dividends		 -159 -873 -1,192 -1,907 -3,069 -3,043 -3,612 -3,085 -3,337 -3,647 -4,068
Issuance of Debt		 1,960 2,966 5,280 17,457 9,174 6,810 12,668 6,368 1,589 1,630 6,591
Other Financing Activities, net		 -11 96 -2,089 -4,309 74 50 45 44 31 35 24

Quarterly Cash Flow Statements for Mplx

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 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 205 88 -663 2,116 -75 -907 1,015 -1,148 379 372 -631
Net Cash From Operating Activities		 1,244 1,489 1,291 1,565 1,415 1,675 1,246 1,736 1,431 1,496 1,347
Net Cash From Continuing Operating Activities		 1,244 1,489 1,291 1,585 1,415 1,675 1,246 1,736 1,431 1,496 1,347
Net Income / (Loss) Continuing Operations		 928 1,144 1,015 1,186 1,047 1,109 1,136 1,058 1,555 1,203 922
Consolidated Net Income / (Loss)		 928 1,144 1,015 1,186 1,047 1,109 1,136 1,058 1,555 1,203 922
Depreciation Expense		 301 306 317 320 322 324 326 324 346 355 358
Amortization Expense		 13 13 13 14 14 13 10 6.00 7.00 7.00 7.00
Non-Cash Adjustments To Reconcile Net Income		 34 -43 3.00 -107 72 59 2.00 37 -435 -82 56
Changes in Operating Assets and Liabilities, net		 -32 69 -57 172 -40 170 -228 311 -42 13 4.00
Net Cash From Investing Activities		 -236 -525 -996 -114 -536 -349 -601 -602 -3,731 78 -791
Net Cash From Continuing Investing Activities		 -236 -525 -996 -114 -536 -349 -601 -602 -3,731 78 -791
Purchase of Property, Plant & Equipment		 -230 -275 -255 -213 -280 -308 -267 -301 -526 -714 -575
Acquisitions		 -13 -254 -741 -35 -260 -50 -356 -348 -3,388 -232 -224
Sale of Property, Plant & Equipment		 7.00 1.00 0.00 - - 1.00 1.00 - - 974 4.00
Sale and/or Maturity of Investments		 - 3.00 0.00 - 4.00 8.00 21 39 83 150 0.00
Other Investing Activities, net		 - - - - - - 0.00 - 100 -100 4.00
Net Cash From Financing Activities		 -803 -876 -958 665 -954 -2,233 370 -2,282 2,679 -1,202 -1,187
Net Cash From Continuing Financing Activities		 -803 -876 -958 665 -954 -2,233 370 -2,282 2,679 -1,202 -1,187
Repayment of Debt		 - 1.00 -6.00 -13 -2.00 -1,151 -525 -1,203 -804 -50 -1,526
Repurchase of Common Equity		 - - -75 -75 -76 -100 -100 -100 -100 -100 -50
Payment of Dividends		 -810 -888 -887 -885 -884 -991 -989 -987 -986 -1,106 -1,104
Issuance of Debt		 - - 0.00 1,630 - - 1,977 1.00 4,563 50 1,489
Other Financing Activities, net		 7.00 11 10 8.00 8.00 9.00 7.00 7.00 6.00 4.00 4.00

Annual Balance Sheets for Mplx

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 16,104 17,509 19,500 39,325 40,430 36,414 35,507 35,665 36,529 37,511 43,005
Total Current Assets		 576 868 559 1,440 1,484 1,515 1,507 1,905 2,808 3,276 3,994
Cash & Equivalents		 43 234 5.00 77 15 15 13 238 1,048 1,519 2,137
Accounts Receivable		 432 546 452 611 593 1,129 1,298 1,466 1,571 1,548 1,634
Inventories, net		 51 55 65 98 110 118 142 148 159 180 172
Other Current Assets		 50 33 37 654 766 66 54 53 30 29 51
Plant, Property, & Equipment, net		 9,997 11,408 12,187 21,525 22,145 21,218 20,042 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 5,531 5,233 6,754 16,360 16,801 13,912 14,187 33,760 33,721 34,235 39,011
Long-Term Investments		 2,458 2,471 4,010 4,901 5,275 4,036 3,981 4,095 3,743 4,531 4,798
Goodwill		 2,570 2,245 2,245 10,016 9,536 7,657 7,657 7,645 7,645 7,645 8,755
Intangible Assets		 466 492 453 1,359 1,270 959 831 705 654 518 1,397
Other Noncurrent Operating Assets		 12 14 26 84 720 588 557 21,315 21,679 21,541 24,061
Total Liabilities & Shareholders' Equity		 16,104 17,509 19,500 39,325 40,430 36,414 35,507 35,665 36,529 37,511 43,005
Total Liabilities		 6,437 5,399 8,527 20,590 22,849 22,429 22,490 22,151 22,945 23,501 28,477
Total Current Liabilities		 625 763 1,304 2,268 2,132 2,086 3,348 2,401 2,624 3,235 3,249
Short-Term Debt		 - - - - 9.00 764 499 988 1,135 1,693 1,502
Accounts Payable		 145 227 667 266 242 508 1,952 224 153 147 108
Accrued Expenses		 355 378 425 671 470 278 460 397 516 503 692
Other Current Liabilities		 12 27 81 1,147 1,201 213 235 556 579 650 593
Other Current Nonoperating Liabilities		 54 53 88 184 210 323 202 237 242 244 354
Total Noncurrent Liabilities		 5,812 4,636 7,223 18,322 20,717 20,343 19,142 19,750 20,321 20,266 25,228
Long-Term Debt		 5,255 4,422 6,945 17,922 19,704 19,375 18,072 18,808 19,296 19,255 24,151
Noncurrent Deferred Revenue		 179 208 273 340 409 429 553 361 347 317 119
Noncurrent Deferred & Payable Income Tax Liabilities		 378 6.00 5.00 14 12 12 10 13 16 18 25
Other Noncurrent Operating Liabilities		 - - - 46 592 244 205 568 662 676 933
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 9,667 11,110 9,973 17,731 16,613 13,017 12,052 12,546 12,689 13,807 14,528
Total Preferred & Common Equity		 9,654 11,092 9,813 17,559 16,349 12,772 23,028 12,309 12,454 13,576 14,301
Total Common Equity		 9,654 11,092 9,813 17,559 16,349 12,772 23,028 12,309 12,454 13,576 14,301
Common Stock		 9,654 11,092 9,827 - 16,364 12,787 23,045 12,317 12,458 13,579 14,296
Accumulated Other Comprehensive Income / (Loss)		 - - -14 -16 -15 -15 -17 -8.00 -4.00 -3.00 5.00
Noncontrolling Interest		 13 18 146 156 249 245 241 237 235 231 227

Quarterly Balance Sheets for Mplx

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 Q3 2025 Q1 2026
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 9/30/2025 3/31/2026
Total Assets		 35,812 35,672 35,873 36,120 36,461 38,402 38,515 38,972 37,841 43,227 42,933
Total Current Assets		 1,951 2,012 2,321 2,736 2,139 4,196 4,218 4,521 3,173 4,595 3,522
Cash & Equivalents		 121 393 755 960 385 2,501 2,426 2,534 1,386 1,765 1,506
Accounts Receivable		 1,639 1,415 1,371 1,592 1,555 1,495 1,584 1,768 1,562 1,583 1,776
Inventories, net		 151 141 146 154 163 168 171 186 192 175 178
Other Current Assets		 40 63 49 30 36 32 37 33 33 38 62
Plant, Property, & Equipment, net		 18,910 18,758 18,692 18,620 19,299 0.00 19,153 19,147 0.00 21,348 21,992
Total Noncurrent Assets		 14,951 15,130 15,088 14,764 15,023 34,206 15,144 15,304 34,668 17,284 17,419
Long-Term Investments		 4,108 4,144 4,124 4,099 4,343 4,373 4,558 4,751 5,024 4,792 4,981
Goodwill		 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 8,732 8,736
Intangible Assets		 736 673 641 609 618 585 551 529 497 1,443 1,359
Other Noncurrent Operating Assets		 1,240 2,668 2,678 2,411 2,417 21,603 2,390 2,379 21,502 2,317 2,343
Total Liabilities & Shareholders' Equity		 35,812 35,672 35,873 36,120 36,461 38,402 38,515 38,972 37,841 43,227 42,933
Total Liabilities		 22,169 22,624 22,684 22,804 22,814 24,516 24,533 24,904 23,792 28,703 28,636
Total Current Liabilities		 2,499 1,312 1,316 1,399 2,960 4,226 4,267 4,169 3,069 3,502 3,192
Short-Term Debt		 982 1.00 1.00 1.00 1,639 2,827 2,836 2,697 1,500 1,501 1,251
Accounts Payable		 653 139 128 132 132 127 120 145 149 131 126
Accrued Expenses		 411 424 390 472 414 418 461 480 515 661 866
Other Current Liabilities		 261 883 886 607 588 602 630 644 638 706 685
Other Current Nonoperating Liabilities		 192 192 247 187 187 252 220 203 267 503 264
Total Noncurrent Liabilities		 19,670 21,312 21,368 21,405 19,854 20,290 20,266 20,735 20,723 25,201 25,444
Long-Term Debt		 18,797 20,393 20,405 20,417 18,805 19,245 19,250 19,721 19,725 24,145 24,383
Noncurrent Deferred Revenue		 300 347 381 414 482 344 326 317 308 121 115
Noncurrent Deferred & Payable Income Tax Liabilities		 14 13 13 12 16 16 16 18 18 20 25
Other Noncurrent Operating Liabilities		 241 559 569 562 551 685 674 679 672 915 921
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 14,524 14,297
Total Preferred & Common Equity		 26,357 11,843 11,984 12,110 12,852 13,451 13,547 13,838 13,820 14,296 14,071
Total Common Equity		 12,438 11,843 11,984 12,110 12,852 13,451 13,547 13,838 13,820 14,296 14,071
Common Stock		 26,303 11,847 11,988 12,114 12,855 13,454 13,550 13,833 13,815 14,291 14,066
Accumulated Other Comprehensive Income / (Loss)		 -8.00 -4.00 -4.00 -4.00 -3.00 -3.00 -3.00 5.00 5.00 5.00 5.00
Noncontrolling Interest		 238 237 237 236 234 233 232 230 229 228 226

Annual Metrics And Ratios for Mplx

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 38.84% 175.11% 27.67% 81.15% 29.07% 1.11% 9.69% 15.82% -2.86% 5.78% 8.92%
EBITDA Growth		 57.19% 152.49% 47.32% 88.72% 2.52% -54.45% 224.38% 16.17% -0.74% 7.41% 10.60%
EBIT Growth		 51.23% 71.54% 79.30% 129.87% -10.92% -90.92% 1,791.94% 23.02% -0.22% 7.92% 12.45%
NOPAT Growth		 55.69% 148.00% 26.28% 128.41% -12.52% -93.79% 2,601.91% 22.81% -0.30% 7.97% 12.39%
Net Income Growth		 39.33% 170.27% -7.11% 139.95% -27.12% -146.99% 552.98% 27.83% -0.30% 9.86% 13.66%
EPS Growth		 -56.39% -100.00% 0.00% 116.04% -56.33% -180.00% 457.50% 31.12% 1.33% 10.79% 14.49%
Operating Cash Flow Growth		 27.84% 249.18% 27.90% 61.04% 32.92% 10.75% 8.63% 2.20% 7.53% 10.17% -0.62%
Free Cash Flow Firm Growth		 -4,817.40% 95.80% 332.98% -1,505.08% 113.37% -19.12% 289.74% -37.13% 15.42% 20.64% -73.32%
Invested Capital Growth		 1,054.02% 11.26% 0.80% 127.74% 1.10% -4.63% -7.80% 3.13% 0.86% -1.07% 15.26%
Revenue Q/Q Growth		 8.82% 14.13% 6.53% 37.27% 0.00% 0.00% 70.18% -7.72% 2.77% 0.82% 1.48%
EBITDA Q/Q Growth		 19.85% 16.19% 5.83% 21.67% 215.06% -30.48% 1,155.63% -1.15% 5.31% -0.21% 2.19%
EBIT Q/Q Growth		 13.82% 15.93% 8.10% 23.71% 2,251.85% -78.58% 499.20% -1.25% 6.87% -0.60% 2.27%
NOPAT Q/Q Growth		 17.51% 54.24% -10.62% 25.44% 0.00% 0.00% 499.34% -1.30% 6.69% -0.51% 2.62%
Net Income Q/Q Growth		 9.43% 138.10% -32.74% 22.62% 0.00% 0.00% -57.50% -18.01% 8.78% -0.80% 1.94%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 63.30% 0.00% 0.00% 8.88% -0.47% 2.12%
Operating Cash Flow Q/Q Growth		 6.30% 30.33% 2.86% 18.30% 1.19% 2.10% 1.13% 2.62% 2.29% 3.23% -2.94%
Free Cash Flow Firm Q/Q Growth		 -4,871.25% 95.85% 299.68% -2,007.93% 112.29% -42.54% 140.86% 89.26% -14.51% 15.01% -25.74%
Invested Capital Q/Q Growth		 976.82% 7.29% -0.05% 88.73% -3.44% 0.70% 5.47% -1.65% 2.09% -0.53% 1.56%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 59.04% 63.19% 56.09% 58.94% 58.94% 79.60% 57.78% 56.76% 58.71% 59.74% 60.60%
EBITDA Margin		 45.69% 41.93% 48.38% 50.41% 40.04% 18.04% 53.35% 53.51% 54.68% 55.52% 56.29%
Operating Margin		 34.60% 30.24% 30.80% 38.94% 26.29% 2.31% 39.81% 42.29% 43.44% 44.31% 45.72%
EBIT Margin		 33.52% 20.90% 29.35% 37.24% 25.71% 2.31% 39.81% 42.29% 43.44% 44.31% 45.66%
Profit (Net Income) Margin		 30.25% 29.71% 21.62% 28.64% 16.17% -7.52% 31.04% 34.25% 35.16% 36.51% 38.10%
Tax Burden Percent		 99.70% 213.27% 99.88% 99.60% 100.00% 100.29% 99.97% 99.80% 99.72% 99.77% 99.84%
Interest Burden Percent		 90.51% 66.67% 73.74% 77.19% 62.91% -324.64% 77.98% 81.16% 81.16% 82.58% 83.57%
Effective Tax Rate		 0.30% -2.84% 0.12% 0.40% 0.00% 0.00% 0.03% 0.20% 0.28% 0.23% 0.00%
Return on Invested Capital (ROIC)		 5.60% 7.15% 8.54% 11.85% 7.42% 0.47% 13.52% 17.04% 16.66% 18.00% 18.94%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.87% 5.31% -6.23% 3.04% 0.83% -4.85% 8.03% 11.08% 10.83% 12.08% 13.15%
Return on Net Nonoperating Assets (RNNOA)		 0.97% 1.12% -1.29% 1.65% 0.63% -4.82% 9.53% 12.95% 12.62% 13.58% 15.76%
Return on Equity (ROE)		 6.57% 8.27% 7.24% 13.50% 8.05% -4.35% 23.05% 29.99% 29.27% 31.58% 34.70%
Cash Return on Invested Capital (CROIC)		 -162.50% -3.51% 7.74% -66.10% 6.32% 5.21% 21.63% 13.96% 15.80% 19.08% 4.77%
Operating Return on Assets (OROA)		 4.26% 3.77% 6.13% 8.87% 5.83% 0.55% 11.10% 13.80% 13.57% 14.28% 14.74%
Return on Assets (ROA)		 3.85% 5.36% 4.52% 6.82% 3.67% -1.79% 8.65% 11.18% 10.99% 11.77% 12.30%
Return on Common Equity (ROCE)		 6.56% 7.87% 6.56% 12.44% 7.52% -4.02% 30.56% 39.94% 26.75% 29.79% 33.90%
Return on Equity Simple (ROE_SIMPLE)		 3.45% 8.11% 8.52% 11.42% 8.94% -5.38% 13.51% 32.32% 31.85% 32.09% 0.00%
Net Operating Profit after Tax (NOPAT)		 380 942 1,190 2,717 2,377 148 3,991 4,901 4,886 5,276 5,943
NOPAT Margin		 34.50% 31.10% 30.76% 38.79% 26.29% 1.62% 39.80% 42.20% 43.32% 44.21% 45.72%
Net Nonoperating Expense Percent (NNEP)		 2.74% 1.84% 14.77% 8.81% 6.59% 5.32% 5.48% 5.95% 5.83% 5.92% 5.79%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 15.15% 14.75% 15.18% 14.79%
Cost of Revenue to Revenue		 40.96% 36.81% 43.91% 41.06% 41.06% 20.40% 42.22% 43.24% 41.29% 40.26% 39.40%
SG&A Expenses to Revenue		 11.35% 7.49% 6.23% 4.51% 4.29% 4.14% 3.52% 2.88% 3.36% 3.58% 3.43%
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		 24.43% 32.95% 25.29% 20.00% 32.65% 60.09% 17.97% 14.47% 15.27% 15.43% 14.88%
Earnings before Interest and Taxes (EBIT)		 369 633 1,135 2,609 2,324 211 3,992 4,911 4,900 5,288 5,935
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 503 1,270 1,871 3,531 3,620 1,649 5,349 6,214 6,168 6,625 7,316
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.16 0.57 0.81 0.79 1.04 1.28 1.07 2.21 2.67 3.53 3.72
Price to Tangible Book Value (P/TBV)		 0.23 0.75 1.11 2.24 3.06 3.94 1.70 6.86 7.99 8.84 12.83
Price to Revenue (P/Rev)		 1.39 2.08 2.05 1.98 1.88 1.79 2.46 2.34 2.94 4.01 4.10
Price to Earnings (P/E)		 9.81 9.57 7.57 7.96 18.15 0.00 8.03 7.12 8.67 11.16 10.84
Dividend Yield		 9.12% 11.60% 11.58% 14.25% 16.53% 17.47% 11.43% 10.68% 11.92% 7.46% 7.54%
Earnings Yield		 10.19% 10.45% 13.21% 12.56% 5.51% 0.00% 12.46% 14.05% 11.54% 8.96% 9.23%
Enterprise Value to Invested Capital (EV/IC)		 0.34 0.65 0.86 0.88 1.01 1.10 1.43 1.50 1.70 2.17 2.15
Enterprise Value to Revenue (EV/Rev)		 3.90 2.98 3.10 3.99 3.61 3.68 4.04 3.77 4.43 5.30 5.55
Enterprise Value to EBITDA (EV/EBITDA)		 8.54 7.11 6.41 7.92 9.01 20.42 7.57 7.05 8.10 9.54 9.87
Enterprise Value to EBIT (EV/EBIT)		 11.65 14.27 10.57 10.72 14.03 159.60 10.14 8.92 10.20 11.95 12.16
Enterprise Value to NOPAT (EV/NOPAT)		 11.31 9.59 10.09 10.30 13.72 228.01 10.14 8.94 10.22 11.98 12.15
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.07 6.06 6.29 9.11 7.99 7.45 8.24 8.73 9.26 10.63 12.22
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 11.13 0.00 16.09 20.55 6.34 10.92 10.78 11.30 48.28
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.54 0.37 0.63 0.96 1.12 1.44 1.43 1.46 1.50 1.50 1.77
Long-Term Debt to Equity		 0.54 0.37 0.63 0.96 1.12 1.39 1.39 1.39 1.42 1.37 1.66
Financial Leverage		 0.34 0.21 0.21 0.54 0.76 0.99 1.19 1.17 1.17 1.12 1.20
Leverage Ratio		 1.71 1.54 1.60 1.98 2.20 2.43 2.66 2.68 2.66 2.68 2.82
Compound Leverage Factor		 1.55 1.03 1.18 1.53 1.38 -7.90 2.08 2.18 2.16 2.22 2.36
Debt to Total Capital		 35.22% 26.75% 38.76% 48.89% 52.86% 59.02% 58.79% 59.43% 60.06% 59.92% 63.84%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.02% 2.24% 1.58% 2.97% 3.34% 4.84% 3.74%
Long-Term Debt to Total Capital		 35.22% 26.75% 38.76% 48.89% 52.83% 56.78% 57.21% 56.46% 56.73% 55.08% 60.11%
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		 0.09% 6.16% 6.40% 3.16% 3.26% 3.55% 3.82% 3.62% 3.32% 1.24% 0.56%
Common Equity to Total Capital		 64.70% 67.09% 54.77% 47.90% 43.84% 37.43% 72.90% 36.95% 36.61% 38.84% 35.59%
Debt to EBITDA		 10.45 3.48 3.71 5.08 5.45 12.21 3.47 3.19 3.31 3.16 3.51
Net Debt to EBITDA		 5.48 1.35 1.57 3.67 3.98 9.76 2.73 2.49 2.54 2.25 2.56
Long-Term Debt to EBITDA		 10.45 3.48 3.71 5.08 5.44 11.75 3.38 3.03 3.13 2.91 3.30
Debt to NOPAT		 13.83 4.69 5.84 6.60 8.29 136.35 4.65 4.04 4.18 3.97 4.32
Net Debt to NOPAT		 7.25 1.82 2.46 4.76 6.07 108.92 3.65 3.16 3.20 2.82 3.15
Long-Term Debt to NOPAT		 13.83 4.69 5.84 6.60 8.29 131.18 4.53 3.84 3.95 3.65 4.06
Altman Z-Score		 0.28 1.00 0.90 0.78 0.84 0.69 1.25 1.50 1.63 2.01 1.90
Noncontrolling Interest Sharing Ratio		 0.19% 4.73% 9.44% 7.86% 6.63% 7.75% -32.58% -33.19% 8.62% 5.67% 2.32%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.92 1.14 0.43 0.63 0.70 0.73 0.45 0.79 1.07 1.01 1.23
Quick Ratio		 0.76 1.02 0.35 0.30 0.29 0.55 0.39 0.71 1.00 0.95 1.16
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -11,014 -463 1,079 -15,155 2,026 1,639 6,387 4,015 4,634 5,591 1,495
Operating Cash Flow to CapEx		 127.84% 113.64% 135.83% 146.03% 171.66% 401.15% 1,218.61% 695.15% 592.43% 563.60% 709.36%
Free Cash Flow to Firm to Interest Expense		 -314.69 -2.19 3.62 -25.47 2.35 1.83 8.05 4.34 5.02 6.07 1.52
Operating Cash Flow to Interest Expense		 12.20 7.07 6.40 5.16 4.74 5.05 6.19 5.43 5.85 6.46 6.01
Operating Cash Flow Less CapEx to Interest Expense		 2.66 0.85 1.69 1.63 1.98 3.79 5.68 4.65 4.86 5.31 5.16
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.18 0.21 0.24 0.23 0.24 0.28 0.33 0.31 0.32 0.32
Accounts Receivable Turnover		 4.56 6.19 7.75 13.18 15.02 10.62 8.26 8.40 7.43 7.65 8.17
Inventory Turnover		 14.32 21.04 28.30 35.29 35.69 16.36 32.56 34.63 30.35 28.34 29.10
Fixed Asset Turnover		 0.20 0.28 0.33 0.42 0.41 0.42 0.49 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 5.04 5.99 3.80 6.17 14.61 4.97 3.44 4.62 24.71 32.03 40.16
Days Sales Outstanding (DSO)		 80.06 58.93 47.10 27.69 24.30 34.38 44.17 43.44 49.13 47.70 44.68
Days Inventory Outstanding (DIO)		 25.49 17.35 12.90 10.34 10.23 22.31 11.21 10.54 12.03 12.88 12.54
Days Payable Outstanding (DPO)		 72.43 60.89 96.09 59.20 24.98 73.39 106.06 79.08 14.77 11.40 9.09
Cash Conversion Cycle (CCC)		 33.12 15.39 -36.09 -21.17 9.55 -16.70 -50.68 -25.10 46.39 49.18 48.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 12,475 13,880 13,991 31,863 32,214 30,723 28,327 29,213 29,465 29,150 33,598
Invested Capital Turnover		 0.16 0.23 0.28 0.31 0.28 0.29 0.34 0.40 0.38 0.41 0.41
Increase / (Decrease) in Invested Capital		 11,394 1,405 111 17,872 351 -1,491 -2,396 886 252 -315 4,448
Enterprise Value (EV)		 4,298 9,031 12,002 27,978 32,606 33,676 40,485 43,827 49,961 63,196 72,182
Market Capitalization		 1,531 6,296 7,926 13,874 16,966 16,375 24,702 27,159 33,191 47,864 53,237
Book Value per Share		 $117.77 $30.84 $23.62 $22.11 $15.45 $12.28 $22.58 $12.27 $12.44 $13.33 $14.06
Tangible Book Value per Share		 $80.73 $23.23 $17.13 $7.79 $5.24 $4.00 $14.26 $3.95 $4.15 $5.31 $4.08
Total Capital		 14,922 16,532 17,918 36,657 37,294 34,124 31,588 33,310 34,015 34,958 40,181
Total Debt		 5,255 4,422 6,945 17,922 19,713 20,139 18,571 19,796 20,431 20,948 25,653
Total Long-Term Debt		 5,255 4,422 6,945 17,922 19,704 19,375 18,072 18,808 19,296 19,255 24,151
Net Debt		 2,754 1,717 2,930 12,944 14,423 16,088 14,577 15,463 15,640 14,898 18,718
Capital Expenditures (CapEx)		 334 1,312 1,404 2,103 2,378 1,127 403 722 911 1,055 833
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -92 -129 -750 -905 -654 178 -1,355 254 271 215 110
Debt-free Net Working Capital (DFNWC)		 -49 105 -745 -828 -639 193 -1,342 492 1,319 1,734 2,247
Net Working Capital (NWC)		 -49 105 -745 -828 -648 -571 -1,841 -496 184 41 745
Net Nonoperating Expense (NNE)		 47 42 354 711 915 835 879 923 920 919 991
Net Nonoperating Obligations (NNO)		 2,808 1,770 3,018 13,128 14,633 16,738 15,310 15,699 15,881 15,140 19,070
Total Depreciation and Amortization (D&A)		 134 637 736 922 1,296 1,438 1,357 1,303 1,268 1,337 1,381
Debt-free, Cash-free Net Working Capital to Revenue		 -8.36% -4.26% -19.39% -12.92% -7.23% 1.95% -13.51% 2.19% 2.40% 1.80% 0.85%
Debt-free Net Working Capital to Revenue		 -4.45% 3.47% -19.27% -11.82% -7.07% 2.11% -13.38% 4.24% 11.69% 14.53% 17.29%
Net Working Capital to Revenue		 -4.45% 3.47% -19.27% -11.82% -7.17% -6.25% -18.36% -4.27% 1.63% 0.34% 5.73%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.34 $0.00 $1.07 $2.29 $1.00 ($0.80) $2.86 $3.75 $3.80 $4.21 $4.82
Adjusted Weighted Average Basic Shares Outstanding		 99M 676M 778M 1.52B 1.81B 2.10B 1.03B 1.01B 1.00B 1.02B 1.02B
Adjusted Diluted Earnings per Share		 $1.33 $0.00 $1.06 $2.29 $1.00 ($0.80) $2.86 $3.75 $3.80 $4.21 $4.82
Adjusted Weighted Average Diluted Shares Outstanding		 100M 690M 784M 1.52B 1.81B 2.10B 1.03B 1.01B 1.00B 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		 99M 0.00 0.00 761M 906M 1.05B 1.03B 1.01B 1.00B 1.02B 1.02B
Normalized Net Operating Profit after Tax (NOPAT)		 380 732 1,190 2,717 2,502 1,689 4,033 4,901 4,886 5,276 4,160
Normalized NOPAT Margin		 34.50% 24.17% 30.76% 38.79% 27.67% 18.48% 40.22% 42.20% 43.32% 44.21% 32.01%
Pre Tax Income Margin		 30.34% 13.93% 21.64% 28.75% 16.17% -7.49% 31.05% 34.32% 35.25% 36.60% 38.16%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 10.54 3.00 3.81 4.38 2.70 0.24 5.03 5.31 5.31 5.74 6.04
NOPAT to Interest Expense		 10.85 4.46 3.99 4.57 2.76 0.16 5.03 5.30 5.29 5.73 6.05
EBIT Less CapEx to Interest Expense		 1.00 -3.22 -0.90 0.85 -0.06 -1.02 4.53 4.53 4.32 4.60 5.19
NOPAT Less CapEx to Interest Expense		 1.31 -1.75 -0.72 1.03 0.00 -1.09 4.52 4.52 4.31 4.58 5.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 47.75% 97.00% 142.58% 95.06% 209.92% -442.94% 116.07% 77.55% 84.14% 83.70% 82.15%
Augmented Payout Ratio		 47.75% 97.00% 142.58% 95.06% 209.92% -447.74% 136.31% 89.89% 84.14% 91.19% 90.23%

Quarterly Metrics And Ratios for Mplx

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 1,015,204,337.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 1,015,204,337.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.90
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -14.38% 11.42% 4.90% 13.46% 2.06% 3.27% 9.77% -1.61% 21.77% 6.17% -2.75%
EBITDA Growth		 -26.42% 22.49% 4.77% 17.10% 9.74% -0.83% 7.65% -7.42% 33.71% 9.82% -7.23%
EBIT Growth		 -31.06% 29.72% 4.60% 20.77% 10.49% -2.33% 9.19% -8.88% 41.25% 10.42% -11.13%
NOPAT Growth		 -31.09% 29.02% 4.61% 20.56% 10.39% -2.00% 9.20% -8.81% 41.25% 10.42% -11.15%
Net Income Growth		 -35.42% 38.84% 6.62% 25.90% 12.82% -3.06% 11.92% -10.79% 48.52% 8.48% -18.84%
EPS Growth		 -34.56% 39.74% 7.69% 26.37% 13.48% -1.83% 12.24% -10.43% 50.50% 9.35% -18.18%
Operating Cash Flow Growth		 19.73% 8.85% 5.22% 8.91% 13.75% 12.49% -3.49% 10.93% 1.13% -10.69% 8.11%
Free Cash Flow Firm Growth		 270.24% 548.80% -69.16% -29.97% -58.34% 48.52% 116.52% 59.98% -338.45% -278.83% -304.61%
Invested Capital Growth		 -2.83% 0.86% 1.90% 1.67% 1.53% -1.07% -0.49% -0.70% 12.89% 15.26% 14.64%
Revenue Q/Q Growth		 8.25% 1.85% -4.05% 7.24% -2.62% 3.06% 1.99% -3.87% 20.51% -10.14% -6.58%
EBITDA Q/Q Growth		 -1.94% 15.40% -6.67% 10.88% -8.10% 4.28% 1.31% -4.64% 32.72% -14.35% -14.42%
EBIT Q/Q Growth		 -1.79% 19.15% -9.02% 13.43% -10.15% 5.33% 1.71% -5.34% 39.29% -17.66% -18.14%
NOPAT Q/Q Growth		 -1.89% 18.35% -8.39% 13.35% -10.17% 5.06% 2.08% -5.35% 39.15% -17.50% -18.23%
Net Income Q/Q Growth		 -1.49% 23.28% -11.28% 16.85% -11.72% 5.92% 2.43% -6.87% 46.98% -22.64% -23.36%
EPS Q/Q Growth		 -2.20% 22.47% -10.09% 17.35% -12.17% 5.94% 2.80% -6.36% 47.57% -23.03% -23.08%
Operating Cash Flow Q/Q Growth		 -13.43% 19.69% -13.30% 21.22% -9.58% 18.37% -25.61% 39.33% -17.57% 4.54% -9.96%
Free Cash Flow Firm Q/Q Growth		 49.23% -44.21% -37.27% 34.09% -11.23% 98.90% -8.55% -0.93% -232.32% -49.71% -4.26%
Invested Capital Q/Q Growth		 0.02% 2.09% 0.29% -0.72% -0.11% -0.53% 0.87% -0.93% 13.56% 1.56% 0.33%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 54.98% 24.85% 73.19% 86.60% 58.41% 21.78% 71.25% 70.76% 63.80% 37.42% 69.91%
EBITDA Margin		 50.41% 57.11% 55.55% 57.44% 54.21% 54.85% 54.48% 54.05% 59.52% 56.73% 51.98%
Operating Margin		 39.63% 46.36% 43.96% 46.49% 42.90% 43.85% 43.73% 43.06% 49.77% 45.60% 39.96%
EBIT Margin		 39.63% 46.36% 43.96% 46.49% 42.90% 43.85% 43.73% 43.06% 49.77% 45.60% 39.96%
Profit (Net Income) Margin		 31.87% 38.57% 35.66% 38.86% 35.23% 36.21% 36.36% 35.23% 42.97% 36.99% 30.35%
Tax Burden Percent		 99.89% 99.22% 99.90% 99.83% 99.81% 99.55% 99.91% 99.91% 99.81% 99.75% 99.89%
Interest Burden Percent		 80.50% 83.85% 81.22% 83.72% 82.27% 82.95% 83.24% 81.90% 86.51% 81.32% 76.03%
Effective Tax Rate		 0.11% 0.78% 0.10% 0.17% 0.19% 0.45% 0.09% 0.09% 0.19% 0.00% 0.11%
Return on Invested Capital (ROIC)		 14.84% 17.69% 17.12% 18.79% 17.43% 17.77% 18.10% 17.90% 20.40% 18.89% 16.33%
ROIC Less NNEP Spread (ROIC-NNEP)		 13.42% 16.29% 15.65% 17.30% 15.96% 16.30% 16.63% 16.36% 18.96% 17.26% 14.66%
Return on Net Nonoperating Assets (RNNOA)		 15.73% 18.99% 18.67% 19.89% 18.05% 18.33% 18.75% 17.89% 22.54% 20.69% 17.96%
Return on Equity (ROE)		 30.57% 36.67% 35.79% 38.67% 35.48% 36.10% 36.85% 35.78% 42.94% 39.58% 34.29%
Cash Return on Invested Capital (CROIC)		 18.51% 15.80% 14.99% 16.16% 16.71% 19.08% 18.78% 18.72% 6.45% 4.77% 4.71%
Operating Return on Assets (OROA)		 12.10% 14.49% 13.91% 14.74% 13.61% 14.13% 14.16% 13.74% 15.60% 14.72% 12.60%
Return on Assets (ROA)		 9.73% 12.05% 11.29% 12.32% 11.17% 11.67% 11.77% 11.24% 13.47% 11.94% 9.57%
Return on Common Equity (ROCE)		 27.84% 33.51% 33.11% 36.33% 33.35% 34.05% 35.48% 34.93% 41.94% 38.66% 33.74%
Return on Equity Simple (ROE_SIMPLE)		 30.11% 0.00% 31.35% 31.77% 32.42% 0.00% 32.36% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,153 1,364 1,250 1,417 1,273 1,337 1,365 1,292 1,798 1,483 1,213
NOPAT Margin		 39.59% 46.00% 43.91% 46.42% 42.82% 43.65% 43.69% 43.02% 49.67% 45.60% 39.92%
Net Nonoperating Expense Percent (NNEP)		 1.42% 1.40% 1.47% 1.48% 1.46% 1.47% 1.46% 1.53% 1.43% 1.64% 1.67%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.12% - - - 3.85% 3.74% 3.66% 4.47% 3.69% 3.04%
Cost of Revenue to Revenue		 45.02% 75.15% 26.81% 13.40% 41.59% 78.22% 28.75% 29.24% 36.20% 62.58% 30.09%
SG&A Expenses to Revenue		 3.50% 3.34% 3.83% 3.51% 3.60% 3.40% 3.59% 3.56% 3.48% 3.11% 3.75%
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		 15.35% -21.51% 29.23% 40.10% 15.51% -22.07% 27.53% 27.71% 14.04% -8.18% 29.95%
Earnings before Interest and Taxes (EBIT)		 1,154 1,375 1,251 1,419 1,275 1,343 1,366 1,293 1,801 1,483 1,214
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,468 1,694 1,581 1,753 1,611 1,680 1,702 1,623 2,154 1,845 1,579
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.70 2.67 3.24 3.22 3.35 3.53 3.95 3.80 3.56 3.72 4.12
Price to Tangible Book Value (P/TBV)		 8.47 7.99 9.07 8.29 8.48 8.84 9.66 9.26 12.35 12.83 14.57
Price to Revenue (P/Rev)		 2.97 2.94 3.65 3.68 3.83 4.01 4.48 4.32 3.97 4.10 4.49
Price to Earnings (P/E)		 8.99 8.67 10.38 10.14 10.30 11.16 12.38 12.23 10.58 10.84 12.33
Dividend Yield		 9.51% 11.92% 7.82% 7.81% 7.65% 7.46% 6.75% 7.22% 7.66% 7.54% 7.12%
Earnings Yield		 11.12% 11.54% 9.63% 9.86% 9.71% 8.96% 8.08% 8.17% 9.45% 9.23% 8.11%
Enterprise Value to Invested Capital (EV/IC)		 1.71 1.70 1.97 2.01 2.08 2.17 2.38 2.32 2.12 2.15 2.29
Enterprise Value to Revenue (EV/Rev)		 4.48 4.43 5.09 5.00 5.15 5.30 5.74 5.56 5.48 5.55 5.99
Enterprise Value to EBITDA (EV/EBITDA)		 8.40 8.10 9.31 9.07 9.17 9.54 10.39 10.22 9.81 9.87 10.74
Enterprise Value to EBIT (EV/EBIT)		 10.73 10.20 11.73 11.33 11.45 11.95 12.97 12.82 12.10 12.16 13.35
Enterprise Value to NOPAT (EV/NOPAT)		 10.74 10.22 11.76 11.37 11.49 11.98 13.00 12.84 12.13 12.15 13.35
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.33 9.26 10.64 10.54 10.58 10.63 11.88 11.14 11.53 12.22 12.86
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.08 10.78 13.24 12.53 12.53 11.30 12.66 12.36 34.88 48.28 51.99
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.53 1.50 1.50 1.59 1.58 1.50 1.59 1.51 1.77 1.77 1.79
Long-Term Debt to Equity		 1.53 1.42 1.38 1.39 1.38 1.37 1.40 1.40 1.66 1.66 1.71
Financial Leverage		 1.17 1.17 1.19 1.15 1.13 1.12 1.13 1.09 1.19 1.20 1.23
Leverage Ratio		 2.67 2.66 2.70 2.74 2.73 2.68 2.72 2.73 2.87 2.82 2.89
Compound Leverage Factor		 2.15 2.23 2.19 2.30 2.25 2.23 2.27 2.24 2.48 2.29 2.20
Debt to Total Capital		 60.53% 60.06% 59.97% 61.38% 61.23% 59.92% 61.44% 60.17% 63.84% 63.84% 64.20%
Short-Term Debt to Total Capital		 0.00% 3.34% 4.81% 7.86% 7.86% 4.84% 7.39% 4.25% 3.74% 3.74% 3.13%
Long-Term Debt to Total Capital		 60.52% 56.73% 55.16% 53.52% 53.37% 55.08% 54.05% 55.92% 60.11% 60.11% 61.06%
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		 3.58% 3.32% 2.33% 1.21% 1.21% 1.24% 0.63% 0.65% 0.57% 0.56% 0.57%
Common Equity to Total Capital		 35.90% 36.61% 37.70% 37.41% 37.56% 38.84% 37.93% 39.18% 35.59% 35.59% 35.24%
Debt to EBITDA		 3.49 3.31 3.28 3.40 3.33 3.16 3.32 3.21 3.58 3.51 3.56
Net Debt to EBITDA		 2.62 2.54 2.52 2.34 2.27 2.25 2.24 2.24 2.67 2.56 2.66
Long-Term Debt to EBITDA		 3.49 3.13 3.01 2.96 2.90 2.91 2.92 2.98 3.37 3.30 3.39
Debt to NOPAT		 4.46 4.18 4.14 4.26 4.16 3.97 4.16 4.03 4.43 4.32 4.43
Net Debt to NOPAT		 3.35 3.20 3.18 2.93 2.85 2.82 2.81 2.81 3.30 3.15 3.31
Long-Term Debt to NOPAT		 4.46 3.95 3.81 3.71 3.63 3.65 3.66 3.75 4.17 4.06 4.21
Altman Z-Score		 1.31 1.31 1.49 1.49 1.52 1.66 1.76 1.76 1.53 1.56 1.62
Noncontrolling Interest Sharing Ratio		 8.94% 8.62% 7.49% 6.06% 6.01% 5.67% 3.70% 2.38% 2.33% 2.32% 1.61%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.96 1.07 0.72 0.99 0.99 1.01 1.08 1.03 1.31 1.23 1.10
Quick Ratio		 1.82 1.00 0.66 0.95 0.94 0.95 1.03 0.96 0.96 1.16 1.03
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,994 1,112 698 936 831 1,652 1,511 1,497 -1,980 -2,965 -3,091
Operating Cash Flow to CapEx		 557.85% 543.43% 506.27% 734.74% 505.36% 545.60% 468.42% 576.74% 272.05% 0.00% 235.90%
Free Cash Flow to Firm to Interest Expense		 8.86 5.01 2.97 4.05 3.68 7.21 6.60 6.40 -8.15 -10.70 -10.62
Operating Cash Flow to Interest Expense		 5.53 6.71 5.49 6.77 6.26 7.31 5.44 7.42 5.89 5.40 4.63
Operating Cash Flow Less CapEx to Interest Expense		 4.54 5.47 4.41 5.85 5.02 5.97 4.28 6.13 3.72 6.34 2.67
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.31 0.31 0.32 0.32 0.32 0.32 0.32 0.32 0.31 0.32 0.32
Accounts Receivable Turnover		 6.79 7.43 7.69 8.22 7.45 7.65 7.35 7.96 8.09 8.17 7.29
Inventory Turnover		 30.52 30.35 30.79 30.01 28.54 28.34 28.30 27.93 31.82 29.10 28.23
Fixed Asset Turnover		 0.59 0.00 0.60 0.00 0.63 0.00 0.64 0.00 0.63 0.00 0.63
Accounts Payable Turnover		 11.86 24.71 34.54 36.96 36.80 32.03 35.65 36.43 43.86 40.16 37.91
Days Sales Outstanding (DSO)		 53.72 49.13 47.49 44.42 48.97 47.70 49.66 45.87 45.12 44.68 50.09
Days Inventory Outstanding (DIO)		 11.96 12.03 11.85 12.16 12.79 12.88 12.90 13.07 11.47 12.54 12.93
Days Payable Outstanding (DPO)		 30.78 14.77 10.57 9.88 9.92 11.40 10.24 10.02 8.32 9.09 9.63
Cash Conversion Cycle (CCC)		 34.90 46.39 48.77 46.70 51.84 49.18 52.33 48.92 48.27 48.13 53.40
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 28,862 29,465 29,550 29,336 29,304 29,150 29,404 29,131 33,082 33,598 33,708
Invested Capital Turnover		 0.37 0.38 0.39 0.40 0.41 0.41 0.41 0.42 0.41 0.41 0.41
Increase / (Decrease) in Invested Capital		 -841 252 552 481 442 -315 -146 -205 3,778 4,448 4,304
Enterprise Value (EV)		 49,210 49,961 58,122 58,913 60,912 63,196 70,088 67,626 70,219 72,182 77,311
Market Capitalization		 32,645 33,191 41,611 43,280 45,375 47,864 54,725 52,582 50,902 53,237 57,938
Book Value per Share		 $12.10 $12.44 $12.75 $13.24 $13.27 $13.33 $13.53 $13.54 $14.03 $14.06 $13.86
Tangible Book Value per Share		 $3.85 $4.15 $4.55 $5.14 $5.24 $5.31 $5.54 $5.56 $4.04 $4.08 $3.92
Total Capital		 33,734 34,015 34,091 35,958 36,068 34,958 36,486 35,274 40,170 40,181 39,931
Total Debt		 20,418 20,431 20,444 22,072 22,086 20,948 22,418 21,225 25,646 25,653 25,634
Total Long-Term Debt		 20,417 19,296 18,805 19,245 19,250 19,255 19,721 19,725 24,145 24,151 24,383
Net Debt		 15,359 15,640 15,716 15,198 15,102 14,898 15,133 14,815 19,089 18,718 19,147
Capital Expenditures (CapEx)		 223 274 255 213 280 307 266 301 526 -260 571
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 378 271 433 296 361 215 515 218 829 110 75
Debt-free Net Working Capital (DFNWC)		 1,338 1,319 818 2,797 2,787 1,734 3,049 1,604 2,594 2,247 1,581
Net Working Capital (NWC)		 1,337 184 -821 -30 -49 41 352 104 1,093 745 330
Net Nonoperating Expense (NNE)		 225 220 235 231 226 228 229 234 243 280 291
Net Nonoperating Obligations (NNO)		 15,546 15,881 15,903 15,450 15,322 15,140 15,336 15,082 18,558 19,070 19,411
Total Depreciation and Amortization (D&A)		 314 319 330 334 336 337 336 330 353 362 365
Debt-free, Cash-free Net Working Capital to Revenue		 3.44% 2.40% 3.79% 2.51% 3.05% 1.80% 4.22% 1.79% 6.47% 0.85% 0.58%
Debt-free Net Working Capital to Revenue		 12.19% 11.69% 7.17% 23.75% 23.55% 14.53% 24.97% 13.19% 20.25% 17.29% 12.24%
Net Working Capital to Revenue		 12.18% 1.63% -7.19% -0.25% -0.41% 0.34% 2.88% 0.86% 8.53% 5.73% 2.56%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.89 $1.09 $0.98 $1.15 $1.01 $1.07 $1.10 $1.03 $1.52 $1.17 $0.90
Adjusted Weighted Average Basic Shares Outstanding		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B
Adjusted Diluted Earnings per Share		 $0.89 $1.09 $0.98 $1.15 $1.01 $1.07 $1.10 $1.03 $1.52 $1.17 $0.90
Adjusted Weighted Average Diluted Shares Outstanding		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 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		 1.00B 1.00B 1.01B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B 1.02B
Normalized Net Operating Profit after Tax (NOPAT)		 1,153 1,364 1,250 1,417 1,273 1,337 1,365 1,292 1,798 1,038 1,213
Normalized NOPAT Margin		 39.59% 46.00% 43.91% 46.42% 42.82% 43.65% 43.69% 43.02% 49.67% 31.92% 39.92%
Pre Tax Income Margin		 31.90% 38.87% 35.70% 38.93% 35.30% 36.37% 36.40% 35.26% 43.05% 37.08% 30.38%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 5.13 6.19 5.32 6.14 5.64 5.86 5.97 5.53 7.41 5.35 4.17
NOPAT to Interest Expense		 5.12 6.15 5.32 6.13 5.63 5.84 5.96 5.52 7.40 5.35 4.17
EBIT Less CapEx to Interest Expense		 4.14 4.96 4.24 5.22 4.40 4.52 4.80 4.24 5.25 6.29 2.21
NOPAT Less CapEx to Interest Expense		 4.13 4.91 4.23 5.21 4.39 4.50 4.80 4.23 5.23 6.29 2.21
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 89.33% 84.14% 84.21% 81.21% 80.69% 83.70% 83.72% 88.53% 81.37% 82.15% 88.29%
Augmented Payout Ratio		 94.16% 84.14% 86.08% 84.72% 85.84% 91.19% 91.56% 97.17% 89.60% 90.23% 95.67%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on MPLX’s recent four-year performance using the quarterly statements provided. The bullets highlight notable trends in revenue, profitability, cash flow, and leverage that may matter to retail investors.

  • Q3 2025 revenue rose to $3.62B, up from $3.00B in Q2 2025.
  • Q4 2025 revenue was $3.252B, up from $3.063B in Q4 2024.
  • Q4 2025 net income attributable to common shareholders was $1.193B, higher than $1.093B in Q4 2024.
  • Q4 2025 net cash from continuing operating activities was $1.496B, up from $1.431B in Q3 2025.
  • Q4 2025 net change in cash was a positive $372M, reversing a prior quarter cash burn in Q3 2025.
  • Q4 2025 net cash from investing activities shows a modest inflow of about $78M, following larger investing outflows in some earlier quarters.
  • Issuance of debt in Q4 2025 was $50M, while overall financing cash flow remained negative due to other outflows.
  • Total assets stood around $43.2B in mid-2025, with total equity near $14.5B, reflecting a growing balance sheet size.
  • Long-term debt rose to about $24.1B by Q3 2025, up from roughly $19.7B in Q2 2025, signaling higher leverage.
  • Net financing cash flows were negative in multiple quarters (e.g., about -$2.28B in Q3 2025 and -$1.20B in Q4 2025), indicating substantial cash outflows for dividends, debt repayments, and share activity.
05/14/26 06:38 AM ETAI Generated. May Contain Errors.

Mplx Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mplx's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Mplx's net income appears to be on an upward trend, with a most recent value of $4.95 billion in 2025, rising from $333 million in 2015. The previous period was $4.36 billion in 2024. Find out what analysts predict for Mplx in the coming months.

Mplx's total operating income in 2025 was $5.94 billion, based on the following breakdown:
  • Total Gross Profit: $7.88 billion
  • Total Operating Expenses: $1.93 billion

Over the last 10 years, Mplx's total revenue changed from $1.10 billion in 2015 to $13.00 billion in 2025, a change of 1,080.6%.

Mplx's total liabilities were at $28.48 billion at the end of 2025, a 21.2% increase from 2024, and a 342.4% increase since 2015.

In the past 10 years, Mplx's cash and equivalents has ranged from $5 million in 2017 to $2.14 billion in 2025, and is currently $2.14 billion as of their latest financial filing in 2025.

Over the last 10 years, Mplx's book value per share changed from 117.77 in 2015 to 14.06 in 2025, a change of -88.1%.


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Financial statements for NYSE:MPLX last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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