Financials Marathon Petroleum Corporation

Equities

MPC

US56585A1025

Oil & Gas Refining and Marketing

Real-time Estimate Cboe BZX 20:28:49 17/06/2024 BST 5-day change 1st Jan Change
171.9 USD +1.10% Intraday chart for Marathon Petroleum Corporation -1.47% +15.79%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 39,122 26,911 39,391 54,547 56,332 59,921 - -
Enterprise Value (EV) 1 66,433 58,080 54,091 69,477 73,391 81,798 83,638 83,697
P/E ratio 15.1 x -2.71 x 4.2 x 4.14 x 6.28 x 9.82 x 9.95 x 11.3 x
Yield 3.52% 5.61% 3.63% 2.14% 2.08% 1.98% 2.11% 2.21%
Capitalization / Revenue 0.31 x 0.39 x 0.33 x 0.3 x 0.37 x 0.42 x 0.43 x 0.44 x
EV / Revenue 0.53 x 0.84 x 0.45 x 0.39 x 0.49 x 0.58 x 0.61 x 0.62 x
EV / EBITDA 7.09 x 23.4 x 6.49 x 2.86 x 3.87 x 5.97 x 6.46 x 7.02 x
EV / FCF 20.1 x -158 x 18.7 x 4.98 x 6 x 11.2 x 12 x 11.6 x
FCF Yield 4.98% -0.63% 5.35% 20.1% 16.7% 8.91% 8.31% 8.62%
Price to Book 1.16 x 1.21 x 1.41 x 1.91 x 2.24 x 2.56 x 2.82 x 2.72 x
Nbr of stocks (in thousands) 649,322 650,651 615,588 468,661 379,697 352,330 - -
Reference price 2 60.25 41.36 63.99 116.4 148.4 170.1 170.1 170.1
Announcement Date 29/01/20 02/02/21 02/02/22 31/01/23 30/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 124,880 69,032 120,930 179,952 150,307 142,106 137,811 134,734
EBITDA 1 9,374 2,487 8,341 24,335 18,985 13,706 12,943 11,930
EBIT 1 5,576 -2,281 4,381 21,469 14,514 10,089 9,378 8,232
Operating Margin 4.47% -3.3% 3.62% 11.93% 9.66% 7.1% 6.8% 6.11%
Earnings before Tax (EBT) 1 4,329 -13,612 2,817 20,469 13,989 9,242 9,041 7,633
Net income 1 2,637 -9,919 9,738 14,516 9,681 5,926 5,299 4,593
Net margin 2.11% -14.37% 8.05% 8.07% 6.44% 4.17% 3.85% 3.41%
EPS 2 4.000 -15.28 15.24 28.12 23.63 17.32 17.10 15.06
Free Cash Flow 1 3,308 -368 2,896 13,941 12,227 7,286 6,948 7,217
FCF margin 2.65% -0.53% 2.39% 7.75% 8.13% 5.13% 5.04% 5.36%
FCF Conversion (EBITDA) 35.29% - 34.72% 57.29% 64.4% 53.16% 53.68% 60.49%
FCF Conversion (Net income) 125.45% - 29.74% 96.04% 126.3% 122.95% 131.11% 157.11%
Dividend per Share 2 2.120 2.320 2.320 2.490 3.080 3.362 3.584 3.753
Announcement Date 29/01/20 02/02/21 02/02/22 31/01/23 30/01/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 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
Net sales 1 35,608 38,384 54,238 47,237 40,093 35,077 36,824 41,583 36,823 33,211 36,746 36,345 34,812 32,854 33,786
EBITDA 1 2,795 2,639 9,060 6,834 5,802 5,218 4,531 5,708 3,528 3,259 3,990 3,947 2,925 2,603 3,903
EBIT 1 1,778 1,716 8,328 6,686 4,739 4,061 3,305 4,753 2,395 1,784 3,115 3,093 1,881 1,722 2,835
Operating Margin 4.99% 4.47% 15.35% 14.15% 11.82% 11.58% 8.98% 11.43% 6.5% 5.37% 8.48% 8.51% 5.4% 5.24% 8.39%
Earnings before Tax (EBT) 1 1,348 1,454 8,016 6,446 4,553 3,907 3,163 4,635 2,284 1,605 2,863 2,892 1,696 1,373 2,800
Net income 1 774 845 5,873 4,500 3,321 2,724 2,226 3,280 1,451 937 2,043 1,930 881.3 774.1 1,816
Net margin 2.17% 2.2% 10.83% 9.53% 8.28% 7.77% 6.04% 7.89% 3.94% 2.82% 5.56% 5.31% 2.53% 2.36% 5.38%
EPS 2 1.270 1.490 10.95 9.060 7.090 6.090 5.320 8.280 3.840 2.580 5.910 5.588 3.173 2.527 5.473
Dividend per Share 2 0.5800 0.5800 0.5800 0.5800 0.7500 0.7500 0.7500 0.7500 0.8300 0.8250 0.8275 0.8402 0.8605 0.8738 0.8738
Announcement Date 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 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 27,311 31,169 14,700 14,930 17,059 21,877 23,717 23,777
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.913 x 12.53 x 1.762 x 0.6135 x 0.8986 x 1.596 x 1.832 x 1.993 x
Free Cash Flow 1 3,308 -368 2,896 13,941 12,227 7,286 6,948 7,217
ROE (net income / shareholders' equity) 7.66% -7.98% 6.46% 50.1% 37.1% 26% 25.5% 22.3%
ROA (Net income/ Total Assets) 2.75% -2.43% 1.83% 15.4% 11% 6.79% 6.2% 5.7%
Assets 1 95,748 408,394 531,260 94,227 87,945 87,234 85,452 80,585
Book Value Per Share 2 51.90 34.10 45.30 61.00 66.30 66.40 60.20 62.60
Cash Flow per Share 2 14.00 0.5300 11.90 35.00 35.10 30.90 32.70 33.70
Capex 1 6,133 3,031 1,992 2,420 1,890 2,265 2,288 2,210
Capex / Sales 4.91% 4.39% 1.65% 1.34% 1.26% 1.59% 1.66% 1.64%
Announcement Date 29/01/20 02/02/21 02/02/22 31/01/23 30/01/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
170.1 USD
Average target price
206.4 USD
Spread / Average Target
+21.36%
Consensus
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