Company Valuation: MPLX LP

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,178 32,946 36,765 48,760 54,281 59,909 - -
Change - 9.17% 11.59% 32.63% 11.32% 10.37% - -
Enterprise Value (EV) 1 48,736 52,504 56,148 68,189 77,797 85,109 85,871 86,802
Change - 7.73% 6.94% 21.45% 14.09% 9.4% 0.9% 1.08%
P/E 10.3x 8.76x 9.66x 11.4x 11.1x 13.7x 12.2x 11.4x
PBR 2.57x 2.67x 2.9x 3.59x 3.79x 4.16x 4.09x 4.07x
PEG - 0.3x 7.25x 1.1x 0.8x -1.3x 1x 1.6x
Capitalization / Revenue 3.01x 2.84x 3.26x 4.09x 4.18x 4.56x 4.25x 4x
EV / Revenue 4.86x 4.52x 4.98x 5.71x 5.99x 6.48x 6.09x 5.79x
EV / EBITDA 8.77x 9.09x 8.96x 10.1x 11.1x 11.7x 11x 10.5x
EV / EBIT 12.2x 10.7x 11.5x 12.9x 13.1x 15.2x 14x 13.5x
EV / FCF 11.1x 12.5x 13.6x 17.3x 75.3x 27.7x 19.9x 17.5x
FCF Yield 9.03% 8.02% 7.36% 5.78% 1.33% 3.6% 5.02% 5.7%
Dividend per Share 2 3.36 2.96 3.25 3.613 4.066 4.547 5.131 5.567
Rate of return 11.4% 9.01% 8.85% 7.55% 7.62% 7.69% 8.68% 9.42%
EPS 2 2.86 3.75 3.8 4.21 4.82 4.323 4.84 5.185
Distribution rate 117% 78.9% 85.5% 85.8% 84.4% 105% 106% 107%
Net sales 1 10,027 11,613 11,281 11,933 12,998 13,139 14,090 14,985
EBITDA 1 5,560 5,775 6,269 6,764 7,017 7,277 7,832 8,283
EBIT 1 3,992 4,911 4,900 5,288 5,943 5,593 6,115 6,434
Net income 1 2,936 3,815 3,829 4,290 4,912 4,458 4,985 5,359
Net Debt 1 18,558 19,558 19,383 19,429 23,516 25,200 25,962 26,894
Reference price 2 29.59 32.84 36.72 47.86 53.37 59.09 59.09 59.09
Nbr of stocks (in thousands) 10,19,864 10,03,243 10,01,217 10,18,812 10,17,065 10,13,858 - -
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.($)
24.33x3.24x13.07x5.54% 11TCr
30.23x10.21x14.59x2.81% 9.2TCr
12.93x1.87x10.68x5.78% 8.48TCr
21.09x5.7x11.51x3.7% 7.15TCr
21.64x9.43x12.7x4.04% 6.58TCr
26.14x4.38x13.91x1.7% 6.35TCr
16.53x2.19x11.03x4.49% 6.03TCr
13.69x6.48x11.71x7.69% 5.99TCr
14.99x4.24x11.92x4.56% 3.4TCr
Average 20.18x 5.31x 12.35x 4.48% 7.14TCr
Weighted average by Cap. 21.00x 5.33x 12.46x 4.49%

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