Selected Financial Data
since 2005
Income Statement
Marathon Oil Corp., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Revenues | Income (loss) from operations | Net income (loss) |
|---|---|---|---|
| Dec 31, 2021 | 5,601) | 1,308) | 946) |
| Dec 31, 2020 | 3,097) | (1,180) | (1,451) |
| Dec 31, 2019 | 5,063) | 636) | 480) |
| Dec 31, 2018 | 5,902) | 1,667) | 1,096) |
| Dec 31, 2017 | 4,373) | (133) | (5,723) |
| Dec 31, 2016 | 4,031) | (900) | (2,140) |
| Dec 31, 2015 | 5,522) | (2,691) | (2,204) |
| Dec 31, 2014 | 10,846) | 1,599) | 3,046) |
| Dec 31, 2013 | 14,501) | 5,204) | 1,753) |
| Dec 31, 2012 | 15,688) | 6,332) | 1,582) |
| Dec 31, 2011 | 14,663) | 4,813) | 2,946) |
| Dec 31, 2010 | 72,321) | 5,317) | 2,568) |
| Dec 31, 2009 | 53,470) | 3,590) | 1,463) |
| Dec 31, 2008 | 77,193) | 7,023) | 3,528) |
| Dec 31, 2007 | 64,552) | 6,640) | 3,956) |
| Dec 31, 2006 | 64,896) | 8,967) | 5,234) |
| Dec 31, 2005 | 63,311) | 5,302) | 3,032) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The financial trajectory from 2005 to 2021 is characterized by a fundamental shift in the scale of operations and significant volatility in earnings. A primary observation is the dramatic contraction in revenue between 2010 and 2011, which transitioned the entity from a high-revenue scale to a substantially smaller operational footprint. The latter half of the period is marked by cyclical instability, with alternating years of profitability and significant losses.
- Revenue Performance
- Revenues remained consistently high between 2005 and 2010, reaching a peak of 77,193 million USD in 2008. A sharp decline occurred in 2011, with revenues falling to 14,663 million USD. Following this structural shift, revenues fluctuated between 10,846 million USD and 15,688 million USD from 2012 to 2014, before entering a period of further decline. The lowest revenue point was recorded in 2020 at 3,097 million USD, with a subsequent recovery to 5,601 million USD in 2021.
- Operational Income Trends
- Operational profitability was consistently positive from 2005 through 2013, peaking at 8,967 million USD in 2006. A downturn began in 2014, leading to a series of operational losses between 2015 and 2017, with the most significant deficit occurring in 2015 at 2,691 million USD. Although operational income returned to positive territory in 2018 and 2019, a further loss of 1,180 million USD was registered in 2020, followed by a recovery to 1,308 million USD in 2021.
- Net Income and Profitability
- Net income remained positive for the first decade of the observed period, peaking at 5,234 million USD in 2006. A period of severe financial erosion occurred from 2015 to 2017, culminating in a net loss of 5,723 million USD in 2017. The entity returned to profitability in 2018 and 2019, but experienced another net loss of 1,451 million USD in 2020. The period concludes with a return to a net profit of 946 million USD in 2021.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Balance Sheet: Assets
Marathon Oil Corp., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2021 | 1,821) | 16,994) |
| Dec 31, 2020 | 1,612) | 17,956) |
| Dec 31, 2019 | 2,135) | 20,245) |
| Dec 31, 2018 | 2,921) | 21,321) |
| Dec 31, 2017 | 2,566) | 22,012) |
| Dec 31, 2016 | 3,665) | 31,094) |
| Dec 31, 2015 | 2,590) | 32,311) |
| Dec 31, 2014 | 4,593) | 36,011) |
| Dec 31, 2013 | 2,975) | 35,620) |
| Dec 31, 2012 | 3,762) | 35,306) |
| Dec 31, 2011 | 3,224) | 31,371) |
| Dec 31, 2010 | 13,829) | 50,014) |
| Dec 31, 2009 | 10,637) | 47,052) |
| Dec 31, 2008 | 8,403) | 42,686) |
| Dec 31, 2007 | 10,587) | 42,746) |
| Dec 31, 2006 | 10,096) | 30,831) |
| Dec 31, 2005 | 9,383) | 28,498) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
An analysis of the asset structure from 2005 to 2021 reveals three distinct phases: a period of aggressive expansion, a sharp structural contraction in 2011, and a sustained long-term decline in the overall balance sheet size.
- Total Asset Trajectory
- Total assets exhibited steady growth between 2005 and 2010, rising from 28.498 billion USD to a peak of 50.014 billion USD. This growth phase was followed by a significant reduction in 2011, where assets dropped to 31.371 billion USD. Following a period of relative stability between 2011 and 2015, a consistent downward trend emerged from 2016 through 2021, with total assets concluding the period at 16.994 billion USD, representing a substantial contraction from the 2010 peak.
- Current Asset Fluctuations
- Current assets followed a similar pattern of initial growth, peaking at 13.829 billion USD in 2010. A precipitous decline occurred in 2011, with current assets falling to 3.224 billion USD. Unlike total assets, which showed some resilience in the early 2010s, current assets remained suppressed for the remainder of the period, fluctuating between a high of 4.593 billion USD in 2014 and a low of 1.612 billion USD in 2020.
- Liquidity Composition and Asset Ratio
- The relationship between current assets and total assets shifted markedly over the sixteen-year period. In 2010, current assets constituted approximately 27.6% of total assets. By 2021, this proportion decreased to approximately 10.7%. This trend indicates a significant reduction in the proportion of liquid assets relative to the total asset base, suggesting a fundamental shift in the company's balance sheet composition or a strategic move toward a leaner asset structure.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Balance Sheet: Liabilities and Stockholders’ Equity
Marathon Oil Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Commercial paper and long-term debt, including current portion | Stockholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2021 | 1,637) | 6,308) | 4,014) | 10,686) |
| Dec 31, 2020 | 1,213) | 7,395) | 5,404) | 10,561) |
| Dec 31, 2019 | 1,745) | 8,092) | 5,501) | 12,153) |
| Dec 31, 2018 | 1,832) | 9,193) | 5,499) | 12,128) |
| Dec 31, 2017 | 1,968) | 10,304) | 5,494) | 11,708) |
| Dec 31, 2016 | 2,240) | 13,553) | 7,275) | 17,541) |
| Dec 31, 2015 | 1,729) | 13,758) | 7,277) | 18,553) |
| Dec 31, 2014 | 4,379) | 14,991) | 6,391) | 21,020) |
| Dec 31, 2013 | 4,333) | 16,276) | 6,597) | 19,344) |
| Dec 31, 2012 | 5,081) | 17,023) | 6,896) | 18,283) |
| Dec 31, 2011 | 4,394) | 14,212) | 4,815) | 17,152) |
| Dec 31, 2010 | 11,113) | 26,243) | 7,896) | 23,771) |
| Dec 31, 2009 | 9,057) | 25,142) | 8,532) | 21,910) |
| Dec 31, 2008 | 7,753) | 21,277) | 7,185) | 21,409) |
| Dec 31, 2007 | 11,260) | 23,523) | 7,215) | 19,223) |
| Dec 31, 2006 | 8,061) | 15,706) | 3,532) | 14,607) |
| Dec 31, 2005 | 8,154) | 16,358) | 4,013) | 11,705) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The balance sheet exhibits a significant transition in capital structure between 2005 and 2021, characterized by a period of expansion in liabilities followed by a sustained and aggressive deleveraging process.
- Liability Trends
- Total liabilities experienced a period of growth from 2005 to 2010, peaking at 26,243 million US$. A sharp contraction occurred in 2011, where total liabilities decreased by approximately 46% to 14,212 million US$. From 2012 through 2021, a consistent downward trajectory is observed, with total liabilities reaching a period low of 6,308 million US$ by the end of 2021.
- Current liabilities followed a similar pattern, peaking in 2007 and 2010 before declining steeply. Between 2010 and 2020, current liabilities fell from 11,113 million US$ to 1,213 million US$, indicating a substantial reduction in short-term financial obligations.
- Debt Obligations
- Commercial paper and long-term debt showed volatility in the first decade, increasing from 4,013 million US$ in 2005 to a peak of 8,532 million US$ in 2009. Following a period of relative stability between 2012 and 2016, debt levels began a steady decline, ending at 4,014 million US$ in 2021, returning nearly to 2005 levels.
- Stockholders' Equity Dynamics
- Stockholders' equity grew steadily from 2005 to 2010, rising from 11,705 million US$ to a peak of 23,771 million US$. While there was a recovery period between 2011 and 2014, a general downward trend emerged thereafter. By 2021, equity stood at 10,686 million US$, representing a significant decrease from its peak, suggesting potential capital returns to shareholders or a reduction in retained earnings.
- Leverage and Solvency Analysis
- The relationship between total liabilities and stockholders' equity shifted fundamentally over the analyzed period. In 2010, the company operated with higher leverage, as total liabilities exceeded stockholders' equity. By 2021, the position reversed significantly; stockholders' equity surpassed total liabilities, reflecting a more conservative capital structure and a reduction in overall financial risk.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Cash Flow Statement
Marathon Oil Corp., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash used in investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2021 | 3,239) | (1,010) | (2,391) |
| Dec 31, 2020 | 1,473) | (1,303) | (286) |
| Dec 31, 2019 | 2,749) | (2,818) | (535) |
| Dec 31, 2018 | 3,234) | (1,470) | (859) |
| Dec 31, 2017 | 1,988) | (2,044) | (2,003) |
| Dec 31, 2016 | 1,073) | (874) | 1,074) |
| Dec 31, 2015 | 1,565) | (3,202) | 462) |
| Dec 31, 2014 | 4,736) | (1,746) | (1,593) |
| Dec 31, 2013 | 5,091) | (4,521) | (1,162) |
| Dec 31, 2012 | 4,017) | (5,439) | 1,600) |
| Dec 31, 2011 | 5,434) | (7,667) | (2,295) |
| Dec 31, 2010 | 5,873) | (2,621) | (1,358) |
| Dec 31, 2009 | 5,210) | (5,238) | 724) |
| Dec 31, 2008 | 6,782) | (5,435) | (1,193) |
| Dec 31, 2007 | 6,521) | (8,102) | 184) |
| Dec 31, 2006 | 5,418) | (2,955) | (2,581) |
| Dec 31, 2005 | 4,738) | (3,127) | (2,345) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The cash flow profile exhibits significant volatility over the seventeen-year period, characterized by a strong initial phase of operational growth followed by a sharp contraction and a subsequent period of strategic stabilization.
- Operating Cash Flow Trends
- Net cash provided by operating activities grew steadily from 2005 to 2008, peaking at 6,782 million US$. A period of relative stability followed until 2014, after which a precipitous decline occurred, reaching a low of 1,073 million US$ in 2016. While a recovery trend emerged through 2018, a second significant dip was observed in 2020 at 1,473 million US$, followed by a rebound to 3,239 million US$ by 2021.
- Investing Cash Flow Patterns
- Investing activities consistently resulted in net cash outflows, reflecting ongoing capital expenditures. The highest intensities of investment occurred in 2007 and 2011, with outflows of 8,102 million US$ and 7,667 million US$, respectively. Following 2014, there was a notable trend of reduced capital spending, with outflows decreasing significantly to 874 million US$ in 2016, suggesting a strategic shift toward capital discipline and reduced asset expansion.
- Financing Cash Flow Dynamics
- Financing activities demonstrate a cyclical pattern of debt repayment and capital raising. Net outflows were prevalent during periods of high liquidity, while net inflows were observed in 2007, 2009, 2012, 2015, and 2016. These inflows often coincided with periods of diminished operating cash flow or high investment requirements, indicating a reliance on external financing to bridge liquidity gaps during market downturns.
The synthesis of these trends reveals a transition in capital management. In the earlier part of the period, aggressive investing often exceeded operating cash generation, necessitating periodic external financing. In the latter years, specifically from 2017 to 2021, a shift toward a more sustainable model is observed, where operating cash flows more consistently covered investing activities, thereby reducing the systemic reliance on external funding, despite a significant financing outflow in 2021.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Per Share Data
Marathon Oil Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2021 | 1.20 | 1.20 | 0.18 |
| Dec 31, 2020 | -1.83 | -1.83 | 0.08 |
| Dec 31, 2019 | 0.59 | 0.59 | 0.20 |
| Dec 31, 2018 | 1.30 | 1.29 | 0.20 |
| Dec 31, 2017 | -6.73 | -6.73 | 0.20 |
| Dec 31, 2016 | -2.61 | -2.61 | 0.20 |
| Dec 31, 2015 | -3.26 | -3.26 | 0.68 |
| Dec 31, 2014 | 4.48 | 4.46 | 0.80 |
| Dec 31, 2013 | 2.49 | 2.47 | 0.72 |
| Dec 31, 2012 | 2.24 | 2.23 | 0.68 |
| Dec 31, 2011 | 4.15 | 4.13 | 0.80 |
| Dec 31, 2010 | 3.62 | 3.61 | 0.99 |
| Dec 31, 2009 | 2.06 | 2.06 | 0.96 |
| Dec 31, 2008 | 4.97 | 4.95 | 0.96 |
| Dec 31, 2007 | 5.73 | 5.69 | 0.92 |
| Dec 31, 2006 | 7.31 | 7.25 | 0.76 |
| Dec 31, 2005 | 4.26 | 4.22 | 0.60 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
The per share financial data from 2005 to 2021 reveals significant volatility in profitability and a corresponding adjustment in shareholder distribution strategies. Earnings performance is characterized by cyclical peaks and deep troughs, while dividend payments transitioned from a growth phase to a period of aggressive capital preservation.
- Earnings Per Share (EPS) Volatility
- Earnings exhibited a strong initial period, peaking in 2006 at $7.31 basic EPS. This was followed by a period of instability, including a sharp decline in 2009 to $2.06. A severe downturn occurred between 2015 and 2017, where basic EPS plummeted to a low of -$6.73 in 2017. While profitability returned to positive territory in 2018 and 2019, a secondary dip into negative earnings occurred in 2020 (-$1.83) before recovering to $1.20 in 2021.
- Dividend Distribution Trends
- A steady upward trend in dividends per share is observed from 2005 to 2010, rising from $0.60 to a peak of $0.99. Following 2010, dividend levels became more volatile and eventually underwent a significant reduction, stabilizing at $0.20 per share between 2016 and 2019. This reduction correlates with the period of negative earnings observed in the mid-2010s. A further cut to $0.08 was recorded in 2020, with a modest increase to $0.18 by the end of 2021.
- Basic versus Diluted Earnings Correlation
- There is a near-perfect correlation between basic and diluted earnings per share throughout the analyzed period. The minimal variance between these two metrics suggests that the impact of potentially dilutive instruments remained negligible, ensuring that the basic EPS figure is a highly accurate representation of the diluted earnings potential.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?