Stock Analysis on Net
Stock Analysis on Net

Marathon Oil Corp. (NYSE:MRO)

This company has been moved to the archive! The financial data has not been updated since August 4, 2022.

Analysis of Revenues 

Microsoft Excel

Revenues as Reported

Marathon Oil Corp., income statement, revenues

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Crude oil and condensate 4,165 2,462 4,285 4,835 3,477
Natural gas liquids 655 247 312 504 338
Natural gas 655 304 393 499 510
Other 126 84 73 64 48
Revenues 5,601 3,097 5,063 5,902 4,373

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial data over the five-year period reveals distinct trends in various revenue streams.

Crude oil and condensate
The revenue from crude oil and condensate experienced an overall upward trajectory from 2017 through 2019, increasing from 3,477 million US dollars to a peak of 4,835 million in 2018 and slightly dropping to 4,285 million in 2019. However, this was followed by a significant decline in 2020 to 2,462 million, likely impacted by external market conditions. The figure rebounded strongly in 2021 to 4,165 million, signaling recovery but not reaching the 2018 peak.
Natural gas liquids
Natural gas liquids showed variability with a rise from 338 million in 2017 to 504 million in 2018, followed by a notable decline to 312 million in 2019 and further to 247 million in 2020. In 2021, there was a substantial increase to 655 million, the highest in the observed period.
Natural gas
Revenues from natural gas started at 510 million in 2017 and showed a steady decline over the next three years, falling to 304 million by 2020. The trend reversed sharply in 2021 with the revenue doubling to 655 million, matching the peak level seen in natural gas liquids for the same year.
Other
The category labeled as “Other” demonstrated consistent growth throughout the period, rising steadily from 48 million in 2017 to 126 million in 2021, indicating diversification or expansion in other revenue streams.
Total revenues
Total revenues mirrored the trends in core product categories with an increase from 4,373 million in 2017 to 5,902 million in 2018, followed by a decline to 5,063 million in 2019 and a sharper drop to 3,097 million in 2020. The recovery in 2021 is notable with revenues approaching the 2018 high at 5,601 million. This pattern suggests sensitivity to market fluctuations, with a noteworthy rebound in the final year of data.

Overall, the data indicates cyclicality with significant downturns in 2020 across most segments, followed by marked recoveries in 2021. The divergent trends in natural gas and natural gas liquids revenues in earlier years suggest variable performance within energy segments. The gradual increase in the “Other” category points to potential strategic growth areas beyond the primary hydrocarbons business.