MPC Marathon Petroleum
FY2025 10-K
Marathon Petroleum (MPC) filed its fiscal year 2025 10-K annual report with the SEC on Feb 26, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Integrated downstream/midstream energy company; ~3.0 mbpd refining capacity, one of largest US wholesale gasoline/distillate suppliers, with MPLX (~64% owned) as midstream backbone
- • Martinez Renewables JV (50/50 with Neste) reached full 730 million gal/year capacity in late 2024; combined with Dickinson's 184 million gal/year, positions MPC as one of largest US renewable diesel producers
Management Discussion & Analysis
- • Total revenues $135.2B vs $140.4B in 2024, down $5.19B; sales revenues $132.7B vs $138.9B, driven by avg refined product prices down $0.18/gal (8%)
- • Net income attributable to MPC $4.05B vs $3.45B; EPS $13.22 vs $10.08; income before taxes $7.0B vs $6.0B; no operating margin % disclosed in text
Risk Factors
- • California SB X1-2 and AB X2-1 empower CEC to cap gasoline refining margins and mandate minimum fuel inventories, directly threatening MPC's LA and Martinez facilities
- • Total debt $33.31B at Dec 31, 2025, with $26.01B sitting at MPLX subsidiary level, creating structural leverage concentration
Financial SummaryXBRL
Revenue
$132.7B
Net Income
$4.0B
Operating Margin
6.2%
Net Margin
3.0%
ROE
23.4%
Total Assets
$84.0B
EPS (Diluted)
$13.22
Operating Cash Flow
$8.3B
Source: XBRL data from Marathon Petroleum FY2025 10-K filing on SEC EDGAR. All figures in USD.
Other Marathon Petroleum Annual Reports
Get deeper insights on Marathon Petroleum
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.