Company Valuation: Marathon Petroleum Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 39,391 54,547 56,332 44,834 48,887 93,350 - -
Change - 38.48% 3.27% -20.41% 9.04% 90.95% - -
Enterprise Value (EV) 1 54,091 69,477 73,391 69,105 78,091 1,21,362 1,19,737 1,15,642
Change - 28.44% 5.63% -5.84% 13% 55.41% -1.34% -3.42%
P/E 4.2x 4.14x 6.28x 13.8x 12.3x 8.32x 11.1x 11.1x
PBR 1.41x 1.91x 2.24x 2.68x 2.87x 4.18x 3.83x 4.04x
PEG - 0x -0.4x -0.2x 0.4x 0x -0.4x -20.43x
Capitalization / Revenue 0.33x 0.3x 0.37x 0.32x 0.36x 0.62x 0.68x 0.66x
EV / Revenue 0.45x 0.39x 0.49x 0.49x 0.58x 0.81x 0.87x 0.82x
EV / EBITDA 6.49x 2.86x 3.87x 6.1x 6.53x 5.88x 7.38x 7.92x
EV / EBIT 12.3x 3.24x 5.06x 10.2x 9.42x 7.2x 9.45x 11.1x
EV / FCF 18.7x 4.98x 6x 12.4x - 10.6x 11.9x 11x
FCF Yield 5.35% 20.1% 16.7% 8.09% - 9.41% 8.41% 9.06%
Dividend per Share 2 2.32 2.49 3.08 3.385 3.73 4.053 4.359 4.561
Rate of return 3.63% 2.14% 2.08% 2.43% 2.29% 1.27% 1.36% 1.43%
EPS 2 15.24 28.12 23.63 10.08 13.22 38.41 28.9 28.74
Distribution rate 15.2% 8.85% 13% 33.6% 28.2% 10.6% 15.1% 15.9%
Net sales 1 1,20,930 1,79,952 1,50,307 1,40,412 1,35,222 1,50,457 1,37,633 1,41,668
EBITDA 1 8,341 24,335 18,985 11,323 11,956 20,656 16,218 14,603
EBIT 1 4,381 21,469 14,514 6,796 8,291 16,845 12,672 10,429
Net income 1 9,738 14,516 9,681 3,445 4,047 11,021 7,470 6,734
Net Debt 1 14,700 14,930 17,059 24,271 29,204 28,013 26,387 22,292
Reference price 2 63.99 116.39 148.36 139.50 162.63 319.76 319.76 319.76
Nbr of stocks (in thousands) 6,15,588 4,68,661 3,79,697 3,21,389 3,00,602 2,91,937 - -
Announcement Date 02/02/22 31/01/23 30/01/24 04/02/25 03/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.32x0.81x5.88x1.27% 9.33TCr
13.32x1.66x7.1x2.73% 63TCr
20.24x1.68x9.76x0.49% 18TCr
7.84x0.6x2.76x4.84% 11TCr
9.66x0.71x6.24x1.53% 9.35TCr
9.95x0.68x7.15x2.38% 8.51TCr
9.98x1.88x4.81x2.69% 7.53TCr
13.52x1.48x7.97x1.96% 6.02TCr
7.41x0.68x3.91x4.96% 3.26TCr
6.37x0.43x3.46x4.41% 3.14TCr
Average 10.66x 1.06x 5.90x 2.73% 13.93TCr
Weighted average by Cap. 12.55x 1.35x 6.73x 2.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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