Financials Marathon Petroleum Corporation

Equities

MPC

US56585A1025

Oil & Gas Refining and Marketing

Market Closed - Nyse Other stock markets 02:30:02 17/01/2026 am IST			5-day change	1st Jan Change
175.63 ^USD	-1.10%		-0.31%	+7.99%

16/01	Scotiabank Adjusts Marathon Petroleum PT to $174 From $189, Maintains Sector Outperform Rating	MT
16/01	Eni, Repsol, Maurel & Prom Seek U.S. Licenses to Export Venezuelan Crude - Sources	RE

Projected Income Statement: Marathon Petroleum Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	69,032	1,20,930	1,79,952	1,50,307	1,40,412	1,32,692	1,24,424	1,37,732
Change	-	75.18%	48.81%	-16.47%	-6.58%	-5.5%	-6.23%	10.7%
EBITDA ¹	2,487	8,341	24,335	18,985	11,323	11,460	12,161	12,008
Change	-	235.38%	191.75%	-21.98%	-40.36%	1.21%	6.11%	-1.26%
EBIT ¹	-2,281	4,381	21,469	14,514	6,796	7,302	8,143	7,539
Change	-	292.06%	390.05%	-32.4%	-53.18%	7.44%	11.53%	-7.43%
Interest Paid ¹	-1,365	-1,483	-1,000	-525	-839	-1,261	-1,300	-1,305
Earnings before Tax (EBT) ¹	-13,612	2,817	20,469	13,989	5,957	6,351	6,928	6,740
Change	-	120.69%	626.62%	-31.66%	-57.42%	6.61%	9.09%	-2.71%
Net income ¹	-9,919	9,738	14,516	9,681	3,445	3,384	3,909	3,787
Change	-	198.18%	49.07%	-33.31%	-64.41%	-1.77%	15.51%	-3.11%
Announcement Date	02/02/21	02/02/22	31/01/23	30/01/24	04/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	18,187	22,882	29,827	32,613	35,608	38,384	54,238	47,237	40,093	35,077	36,824	41,583	36,823	33,211	38,362	35,373	33,466	31,850	34,101	35,849	30,843	29,817	31,097	30,955	29,700	32,219	32,642	32,989
Change	-	25.82%	30.35%	9.34%	9.18%	7.8%	41.3%	-12.91%	-15.12%	-12.51%	4.98%	12.92%	-11.45%	-9.81%	15.51%	-7.79%	-5.39%	-4.83%	7.07%	5.13%	-13.97%	-3.33%	4.29%	-0.46%	-4.05%	8.48%	1.31%	1.06%
EBITDA ¹	481	1,220	2,194	2,416	2,795	2,639	9,060	6,834	5,802	5,218	4,531	5,708	3,528	3,259	3,392	2,485	2,120	1,975	3,286	3,206	3,048	2,764	3,613	3,383	2,717	2,697	3,743	3,519
Change	-	153.64%	79.84%	10.12%	15.69%	-5.58%	243.31%	-24.57%	-15.1%	-10.07%	-13.17%	25.98%	-38.19%	-7.62%	4.08%	-26.74%	-14.69%	-6.84%	66.38%	-2.43%	-4.94%	-9.3%	30.7%	-6.37%	-19.68%	-0.74%	38.79%	-5.96%
EBIT ¹	-780	217	965	1,365	1,778	1,716	8,328	6,686	4,739	4,061	3,305	4,753	2,395	1,784	2,522	1,349	1,141	687	2,197	2,713	1,884	1,925	2,630	2,270	1,475	1,769	1,832	1,903
Change	-	127.82%	344.7%	41.45%	30.26%	-3.49%	385.31%	-19.72%	-29.12%	-14.31%	-18.62%	43.81%	-49.61%	-25.51%	41.37%	-46.51%	-15.42%	-39.79%	219.8%	23.49%	-30.54%	2.17%	36.59%	-13.68%	-35.01%	19.91%	3.58%	3.86%
Charge d'intérêts ¹	-333	-353	-372	-328	-430	-262	-312	-240	-186	-154	-142	-118	-111	-179	-194	-221	-245	-304	-319	-310	-327.4	-323.5	-327	-325	-325.5	-300	-300	-300
Earnings before Tax (EBT) ¹	57	-136	593	1,012	1,348	1,454	8,016	6,446	4,553	3,907	3,163	4,635	2,284	1,605	2,328	1,128	896	383	1,878	2,403	1,528	1,469	2,180	2,035	1,337	1,469	1,532	1,603
Change	-	-338.6%	536.03%	70.66%	33.2%	7.86%	451.31%	-19.59%	-29.37%	-14.19%	-19.04%	46.54%	-50.72%	-29.73%	45.05%	-51.55%	-20.57%	-57.25%	390.34%	27.96%	-36.42%	-3.88%	48.41%	-6.65%	-34.27%	9.86%	4.31%	4.61%
Net income ¹	192	-242	8,512	694	774	845	5,873	4,500	3,321	2,724	2,226	3,280	1,451	937	1,515	622	371	-74	1,216	1,370	924.8	909.7	1,561	1,252	520.4	856	892	935
Change	-	-226.04%	3,617.36%	-91.85%	11.53%	9.17%	595.03%	-23.38%	-26.2%	-17.98%	-18.28%	47.35%	-55.76%	-35.42%	61.69%	-58.94%	-40.35%	-119.95%	1,743.24%	12.66%	-32.49%	-1.64%	71.65%	-19.79%	-58.45%	64.49%	4.21%	4.82%
Announcement Date	02/02/21	04/05/21	04/08/21	02/11/21	02/02/22	03/05/22	02/08/22	01/11/22	31/01/23	02/05/23	01/08/23	31/10/23	30/01/24	30/04/24	06/08/24	05/11/24	04/02/25	06/05/25	05/08/25	04/11/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Marathon Petroleum Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	31,169	14,700	14,930	17,059	24,271	29,110	29,188	28,819
Change	-	-52.84%	1.56%	14.26%	42.28%	19.94%	0.27%	-1.26%
Announcement Date	02/02/21	02/02/22	31/01/23	30/01/24	04/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Marathon Petroleum Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	3,031	1,992	2,420	1,890	3,076	3,142	3,112	2,741
Change	-	-34.28%	21.49%	-21.9%	62.75%	2.14%	-0.93%	-11.93%
Free Cash Flow (FCF) ¹	-368	2,896	13,941	12,227	5,589	4,236	5,397	5,820
Change	-	886.96%	381.39%	-12.29%	-54.29%	-24.2%	27.41%	7.84%
Announcement Date	02/02/21	02/02/22	31/01/23	30/01/24	04/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Marathon Petroleum Corporation

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	3.6%	6.9%	13.52%	12.63%	8.06%	8.64%	9.77%	8.72%
EBIT Margin (%)	-3.3%	3.62%	11.93%	9.66%	4.84%	5.5%	6.54%	5.47%
EBT Margin (%)	-19.72%	2.33%	11.37%	9.31%	4.24%	4.79%	5.57%	4.89%
Net margin (%)	-14.37%	8.05%	8.07%	6.44%	2.45%	2.55%	3.14%	2.75%
FCF margin (%)	-0.53%	2.39%	7.75%	8.13%	3.98%	3.19%	4.34%	4.23%
FCF / Net Income (%)	3.71%	29.74%	96.04%	126.3%	162.24%	125.19%	138.08%	153.69%
Profitability
ROA	-2.43%	1.83%	15.41%	11.01%	4.18%	3.83%	5.31%	3.91%
ROE	-7.98%	6.46%	50.08%	37.15%	16.35%	16.5%	22.21%	20.13%
Financial Health
Leverage (Debt/EBITDA)	12.53x	1.76x	0.61x	0.9x	2.14x	2.54x	2.4x	2.4x
Debt / Free cash flow	-84.7x	5.08x	1.07x	1.4x	4.34x	6.87x	5.41x	4.95x
Capital Intensity
CAPEX / Current Assets (%)	4.39%	1.65%	1.34%	1.26%	2.19%	2.37%	2.5%	1.99%
CAPEX / EBITDA (%)	121.87%	23.88%	9.94%	9.96%	27.17%	27.41%	25.59%	22.83%
CAPEX / FCF (%)	-823.64%	68.78%	17.36%	15.46%	55.04%	74.16%	57.67%	47.1%
Items per share
Cash flow per share ¹	0.5347	11.92	35	35.13	24.98	23.75	30.36	32.66
Change	-	2,129.79%	193.56%	0.38%	-28.9%	-4.94%	27.85%	7.57%
Dividend per Share ¹	2.32	2.32	2.49	3.08	3.385	3.722	4.025	4.322
Change	-	0%	7.33%	23.69%	9.9%	9.95%	8.15%	7.36%
Book Value Per Share ¹	34.1	45.26	61.05	66.32	52.04	60.68	60.98	56.66
Change	-	32.73%	34.88%	8.63%	-21.53%	16.61%	0.5%	-7.09%
EPS ¹	-15.28	15.24	28.12	23.63	10.08	11.13	13.35	13.89
Change	-	199.74%	84.51%	-15.97%	-57.34%	10.4%	19.97%	4.07%
Nbr of stocks (in thousands)	6,50,651	6,15,588	4,68,661	3,79,697	3,21,389	3,00,602	3,00,602	3,00,602
Announcement Date	02/02/21	02/02/22	31/01/23	30/01/24	04/02/25	-	-	-