Marathon Petroleum Corp
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MPC Q2 2025 request
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Income Statement
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Revenue | 33,799 | 37,914 | -10.9% |
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| Crude Oil · Refining & Marketing | 1,419 | 2,099 | -32.4% |
| Refined products · Midstream | 472 | 393 | +20.1% |
| Refined products · Refining & Marketing | 29,945 | 33,605 | -10.9% |
| Refined products · Renewable Diesel | 629 | 489 | +28.6% |
| Services and other · Midstream | 868 | 867 | +0.1% |
| Services and other · Refining & Marketing | 464 | 459 | +1.1% |
| Services and other · Renewable Diesel | 2 | 2 | 0.0% |
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| Midstream | 1,340 | 1,260 | +6.3% |
| Midstream · Intersegment Elimination | 1,471 | 1,448 | +1.6% |
| Midstream · Operating Segments | 2,811 | 2,708 | +3.8% |
| Refining & Marketing | 31,828 | 36,163 | -12.0% |
| Refining & Marketing · Intersegment Elimination | 6 | 38 | -84.2% |
| Refining & Marketing · Operating Segments | 31,834 | 36,201 | -12.1% |
| Renewable Diesel | 631 | 491 | +28.5% |
| Renewable Diesel · Intersegment Elimination | 2 | 8 | -75.0% |
| Renewable Diesel · Operating Segments | 633 | 499 | +26.9% |
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| Intersegment Elimination | 1,479 | 1,494 | -1.0% |
| Operating Segments | 35,278 | 39,408 | -10.5% |
Show Related Party Transactions By Related Party breakouts |
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| Related Party | 326 | 227 | +43.6% |
| Income Loss From Equity Method Investments | 212 | 373 | -43.2% |
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| Midstream · Operating Segments | 191 | 203 | -5.9% |
| Refining & Marketing · Operating Segments | 3 | 7 | -57.1% |
| Renewable Diesel · Operating Segments | 18 | 12 | +50.0% |
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| Operating Segments | 212 | 222 | -4.5% |
| Gain Loss On Disposition Of Assets1 | 6 | -1 | +700.0% |
| Derivative Gain Loss On Derivative Net (Q) | — | — | — |
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| Commodity Contract | 32 | -49 | +165.3% |
| Commodity Contract · Cost Of Sales | 31 | -46 | +167.4% |
| Commodity Contract · Other Income | 1 | -1 | +200.0% |
| Other Operating Income | 84 | 76 | +10.5% |
| Revenues And Other Income | 34,101 | 38,362 | -11.1% |
| Cost of Revenue | 30,025 | 33,945 | -11.5% |
| Depreciation & Amortization | 789 | 838 | -5.8% |
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| Midstream · Operating Segments | 349 | 345 | +1.2% |
| Refining & Marketing · Operating Segments | 405 | 453 | -10.6% |
| Renewable Diesel · Operating Segments | 18 | 17 | +5.9% |
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| Corporate Non Segment | 17 | 23 | -26.1% |
| Operating Segments | 772 | 815 | -5.3% |
| Selling, General & Administrative | 867 | 823 | +5.3% |
| Taxes Excluding Income And Excise Taxes | 223 | 234 | -4.7% |
| Total Costs & Expenses | 31,904 | 35,840 | -11.0% |
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| Midstream · Operating Segments | 1,361 | 1,291 | +5.4% |
| Refining & Marketing · Operating Segments | 29,947 | 34,186 | -12.4% |
| Renewable Diesel · Operating Segments | 670 | 538 | +24.5% |
| Operating Income | 2,197 | 2,522 | -12.9% |
| Interest And Debt Expense | 319 | 194 | +64.4% |
| Income Before Taxes | 1,878 | 2,328 | -19.3% |
| Income Tax Expense (Benefit) | 268 | 373 | -28.2% |
| Net Income | 1,610 | 1,955 | -17.6% |
| Net Income Loss Attributable To Nonredeemable Noncontrolling Interest | 394 | 435 | -9.4% |
| Net Income | 1,216 | 1,515 | -19.7% |
| EPS (Basic) | 3.96 | 4.34 | -8.8% |
| Wtd Avg Shares (Basic) | 307 | 349 | -12.0% |
| EPS (Diluted) | 3.96 | 4.33 | -8.5% |
| Wtd Avg Shares (Diluted) | 307 | 350 | -12.3% |
| Interest Income | -31 | -105 | +70.5% |
| Comprehensive Income | 1,217 | 1,506 | -19.2% |
| Net Income Loss Available To Common Stockholders Basic | 1,215 | 1,514 | -19.7% |
Balance Sheet
| Metric | Q2 2025 | Q2 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,673 | 4,441 | -62.3% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 1,386 | 2,501 | -44.6% |
| Accounts Receivable | 11,128 | 12,307 | -9.6% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 754 | 758 | -0.5% |
| Inventory | 10,106 | 9,800 | +3.1% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 192 | 168 | +14.3% |
| Other Assets Current | 821 | 741 | +10.8% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 33 | 33 | 0.0% |
| Total Current Assets | 23,728 | 31,347 | -24.3% |
| Non-Current Assets | |||
| Goodwill | 8,244 | 8,244 | 0.0% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 7,645 | 7,645 | 0.0% |
| Operating Lease Right-of-Use Assets | 1,399 | 1,187 | +17.9% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 275 | 282 | -2.5% |
| Other Non-Current Assets | 3,014 | 2,944 | +2.4% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 1,512 | 1,560 | -3.1% |
| Total Assets | 78,484 | 85,229 | -7.9% |
| Other Assets | |||
| Equity Method Investments | 7,294 | 6,821 | +6.9% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 5,024 | 4,373 | +14.9% |
| Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization | 34,805 | 34,686 | +0.3% |
Show Business Segments breakouts |
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| Midstream · Operating Segments | 19,883 | 19,943 | -0.3% |
| Refining & Marketing · Operating Segments | 13,794 | 14,193 | -2.8% |
| Renewable Diesel · Operating Segments | 605 | — | — |
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| MPLX · Variable Interest Entity Primary Beneficiary | 19,191 | 19,186 | 0.0% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 523 | 550 | -4.9% |
| Current Liabilities | |||
| Accounts Payable | 13,345 | 14,865 | -10.2% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 745 | 610 | +22.1% |
| Employee Related Liabilities Current | 756 | 766 | -1.3% |
| Taxes Payable Current | 1,414 | 1,680 | -15.8% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 92 | 88 | +4.5% |
| Long Term Debt And Capital Lease Obligations Current | 1,819 | 4,903 | -62.9% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 1,500 | 2,827 | -46.9% |
| Operating Lease Liability Current | 446 | 463 | -3.7% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 47 | 50 | -6.0% |
| Other Liabilities Current | 1,475 | 1,323 | +11.5% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 368 | 373 | -1.3% |
| Total Current Liabilities | 19,255 | 24,000 | -19.8% |
| Commercial Paper (Q) | — | — | — |
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| Parent Company | 210 | — | — |
| Debt Current | -1,819 | -4,903 | +62.9% |
| Non-Current Liabilities | |||
| Deferred Tax Liabilities | 5,718 | 5,810 | -1.6% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 18 | 16 | +12.5% |
| Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent | 1,231 | 1,228 | +0.2% |
| Operating Lease Liabilities | 935 | 711 | +31.5% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 218 | 225 | -3.1% |
| Deferred Credits And Other Liabilities Noncurrent | 1,246 | 1,358 | -8.2% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 434 | 482 | -10.0% |
| Total Liabilities | 55,220 | 57,141 | -3.4% |
| Other Liabilities | |||
| Long Term Debt And Capital Lease Obligations | 26,835 | 24,034 | +11.7% |
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| MPLX · Variable Interest Entity Primary Beneficiary | 19,725 | 19,245 | +2.5% |
| Stockholders' Equity | |||
| Common Stock | 10 | 10 | 0.0% |
| Treasury Stock Value | -54,360 | -48,592 | -11.9% |
| Additional Paid In Capital Common Stock | 33,658 | 33,635 | +0.1% |
| Retained Earnings | 37,424 | 36,423 | +2.7% |
| Accumulated Other Comprehensive Income | -108 | -152 | +28.9% |
| Total Stockholders' Equity | 16,624 | 21,324 | -22.0% |
| Minority Interest | 6,640 | 6,562 | +1.2% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 23,264 | 27,886 | -16.6% |
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| Accumulated Other Comprehensive Income | -108 | -152 | +28.9% |
| Additional Paid In Capital | 33,658 | 33,635 | +0.1% |
| Common Stock | 10 | 10 | 0.0% |
| Noncontrolling Interest | 6,640 | 6,562 | +1.2% |
| Retained Earnings | 37,424 | 36,423 | +2.7% |
| Treasury Stock Common | -54,360 | -48,592 | -11.9% |
| Total Liabilities & Equity | 78,484 | 85,229 | -7.9% |
Cash Flow Statement
| Metric | YTD Q2 2025 | YTD Q2 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Amortization Of Financing Costs And Discounts | 21 | -39 | +153.8% |
| Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash | 67 | 66 | +1.5% |
| Deferred Income Taxes | -58 | -95 | +38.9% |
| Equity Method Investment Dividends Or Distributions | 555 | 554 | +0.2% |
| Unrealized Gain Loss On Derivatives And Commodity Contracts | -54 | 10 | -640.0% |
| Change in Accounts Receivable | 61 | -82 | +174.4% |
| Change in Inventory | -538 | -481 | -11.9% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | -515 | 704 | -173.2% |
| Increase Decrease In Other Operating Capital Net | 6 | 1 | +500.0% |
| Other Operating Activities Cash Flow Statement | -60 | -200 | +70.0% |
| Net Cash from Operations | 2,575 | 4,774 | -46.1% |
| Investing Activities | |||
| Capital Expenditures | -1,358 | -1,072 | -26.7% |
| Payments To Acquire Businesses Net Of Cash Acquired | -237 | -622 | +61.9% |
| Proceeds From Sales Of Business Affiliate And Productive Assets | 18 | 2 | +800.0% |
| Payments To Acquire Interest In Joint Venture | -488 | -179 | -172.6% |
| Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital | 60 | 134 | -55.2% |
| Other Investing Activities | 108 | 141 | -23.4% |
| Net Cash from Investing | -1,897 | -807 | -135.1% |
| Financing Activities | |||
| Proceeds From Issuance Of Commercial Paper | 5,055 | — | — |
| Repayments Of Commercial Paper | -4,845 | — | — |
| Proceeds From Issuance Of Long Term Debt And Capital Securities Net | 5,932 | 1,630 | +263.9% |
| Repayments Of Long Term Debt And Capital Securities | -4,975 | -38 | -12992.1% |
| Debt Issuance Costs | -38 | -14 | -171.4% |
| Proceeds From Issuance Of Common Stock | 23 | 19 | +21.1% |
| Share Repurchases | -1,837 | -5,114 | +64.1% |
| Payments Of Dividends Common Stock | -564 | -589 | +4.2% |
| Payments To Minority Shareholders | -738 | -672 | -9.8% |
| Payments For Repurchase Of Other Equity | -200 | -150 | -33.3% |
| Proceeds From Payments For Other Financing Activities | -28 | -42 | +33.3% |
| Net Cash from Financing | -2,215 | -4,970 | +55.4% |
| Supplemental | |||
| Income Taxes Paid | 119 | 191 | -37.7% |
| Interest Paid | 590 | 602 | -2.0% |
| Other Cash Flow | |||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect | -1,537 | -1,003 | -53.2% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 1,674 | 4,443 | -62.3% |
Values in millions USD. Source: SEC EDGAR 10-Q filing.