Short answer
Marathon Petroleum (MPC) filed its fiscal 2024 10-K annual report with the SEC on Feb 27, 2025. It reported revenue of $138.9B (−6.4% year over year) and net income of $3.4B.
- Top risk flagged: Cybersecurity risk oversight led by CISO with 30+ years oil and gas experience and support from CDO with 20+ years IT leadership since 2021
FY2024 key financial metrics · XBRL
- Revenue
- $138.9B
- −6.4% YoY
- Net income
- $3.4B
- −64.4% YoY
- Operating margin
- 4.9%
- −4.9 pp YoY
- EPS (diluted)
- $10.08
- −57.3% YoY
- ROE
- 19.4%
- −20.3 pp YoY
- Operating cash flow
- $8.7B
- −38.6% YoY
Source: XBRL data from the Marathon Petroleum (MPC) FY2024 10-K on SEC EDGAR. USD.
Marathon Petroleum FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Integrated petroleum refining, marketing, and transportation operations
- No new products or business segments introduced or emphasized this year
- Strategic emphasis on governance with updated MPC 2021 equity compensation plan revoking prior plans' granting authority
- 19,422,757 shares available for issuance under MPC 2021 equity compensation plan as of December 31, 2024
- Full disclosure of ethics codes and executive compensation incorporated by reference, no direct operational changes highlighted
Management Discussion & Analysis
- Regulatory compliance costs expected; EPC and safety compliance expenditures expected to rise but not materially adverse
- Management highlights evolving vehicle fuel standards, renewable fuel blending mandates, and increasing regulatory scrutiny on emissions and hazardous materials as key operational risks
Risk Factors
- Cybersecurity risk oversight led by CISO with 30+ years oil and gas experience and support from CDO with 20+ years IT leadership since 2021
- Dependency on senior cybersecurity leaders CDO and CISO for risk strategy and incident response, critical to operational continuity
- Cyber Fusion Center includes Threat Intelligence, Vulnerability Management, and Incident Response, key to managing cyber threats
- Board's Audit Committee receives minimum two cybersecurity briefings per year plus updates as needed for threat awareness
Generated from the filing text; verify against the original. How to read a 10-K
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