Current Ratio
since 2011
Calculation
Marathon Petroleum Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1.59 | = | 32,131) | ÷ | 20,150) |
| Dec 31, 2022 | 1.76 | = | 35,242) | ÷ | 20,020) |
| Dec 31, 2021 | 1.70 | = | 30,496) | ÷ | 17,898) |
| Dec 31, 2020 | 1.81 | = | 28,287) | ÷ | 15,663) |
| Dec 31, 2019 | 1.25 | = | 20,170) | ÷ | 16,147) |
| Dec 31, 2018 | 1.36 | = | 18,023) | ÷ | 13,216) |
| Dec 31, 2017 | 1.28 | = | 13,401) | ÷ | 10,478) |
| Dec 31, 2016 | 1.46 | = | 10,401) | ÷ | 7,146) |
| Dec 31, 2015 | 1.49 | = | 9,471) | ÷ | 6,345) |
| Dec 31, 2014 | 1.32 | = | 11,339) | ÷ | 8,579) |
| Dec 31, 2013 | 1.30 | = | 12,737) | ÷ | 9,824) |
| Dec 31, 2012 | 1.59 | = | 13,029) | ÷ | 8,203) |
| Dec 31, 2011 | 1.25 | = | 12,001) | ÷ | 9,591) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 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).
1 US$ in millions
The financial data from 2011 through 2023 reveals a consistent maintenance of positive working capital, as current assets have remained above current liabilities throughout the entire period. While the liquidity position remained relatively stable for the first nine years, a significant expansion of the balance sheet is evident starting in 2017, followed by a shift in the liquidity profile beginning in 2020.
- Current Assets Trend
- Current assets exhibited moderate fluctuations between 2011 and 2016, ranging from a low of 9,471 million US$ in 2015 to 13,401 million US$ in 2017. Following 2017, a period of aggressive growth is observed, with assets nearly tripling from 13,401 million US$ in 2017 to a peak of 35,242 million US$ in 2022. A slight contraction occurred in 2023, with assets decreasing to 32,131 million US$.
- Current Liabilities Trend
- Current liabilities remained relatively contained between 2011 and 2017, fluctuating between 6,345 million US$ and 10,478 million US$. Starting in 2018, there was a marked increase in short-term obligations, rising from 13,216 million US$ in 2018 to 20,150 million US$ by the end of 2023. This indicates a substantial increase in the scale of short-term financing or operational liabilities over the latter part of the decade.
- Current Ratio Analysis
- The current ratio remained within a narrow band of 1.25 to 1.59 between 2011 and 2019, suggesting a disciplined approach to liquidity management. A notable shift occurred in 2020, where the ratio spiked to 1.81, the highest in the analyzed period. Although it moderated slightly in subsequent years, the ratio remained elevated compared to the 2011-2019 average, ending 2023 at 1.59. This trend indicates an increased cushion of liquidity to cover short-term obligations in recent years.
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?
Comparison to Competitors
Marathon Petroleum Corp., current ratio, long-term trends, comparison to competitors
| Marathon Petroleum Corp. | Chevron Corp. | ConocoPhillips | ExxonMobil Holdings Corp. | |
|---|---|---|---|---|
| Dec 31, 2023 | 1.59 | 1.27 | 1.43 | 1.48 |
| Dec 31, 2022 | 1.76 | 1.47 | 1.46 | 1.41 |
| Dec 31, 2021 | 1.70 | 1.26 | 1.34 | 1.04 |
| Dec 31, 2020 | 1.81 | 1.18 | 2.25 | 0.80 |
| Dec 31, 2019 | 1.25 | 1.07 | 2.40 | 0.78 |
| Dec 31, 2018 | 1.36 | 1.25 | 1.79 | 0.84 |
| Dec 31, 2017 | 1.28 | 1.03 | 1.76 | 0.82 |
| Dec 31, 2016 | 1.46 | 0.93 | 1.25 | 0.87 |
| Dec 31, 2015 | 1.49 | 1.34 | 0.95 | 0.79 |
| Dec 31, 2014 | 1.32 | 1.32 | 1.31 | 0.82 |
| Dec 31, 2013 | 1.30 | 1.52 | 1.26 | 0.83 |
| Dec 31, 2012 | 1.59 | 1.63 | 1.38 | 1.01 |
| Dec 31, 2011 | 1.25 | 1.58 | 1.08 | 0.94 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 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).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Marathon Petroleum Corp., current ratio, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Marathon Petroleum Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Dec 31, 2023 | 1.59 | 1.41 |
| Dec 31, 2022 | 1.76 | 1.44 |
| Dec 31, 2021 | 1.70 | 1.14 |
| Dec 31, 2020 | 1.81 | 0.99 |
| Dec 31, 2019 | 1.25 | 0.98 |
| Dec 31, 2018 | 1.36 | 1.04 |
| Dec 31, 2017 | 1.28 | 0.97 |
| Dec 31, 2016 | 1.46 | 0.92 |
| Dec 31, 2015 | 1.49 | 0.97 |
| Dec 31, 2014 | 1.32 | 1.02 |
| Dec 31, 2013 | 1.30 | 1.07 |
| Dec 31, 2012 | 1.59 | 1.25 |
| Dec 31, 2011 | 1.25 | 1.12 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 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).
Comparison to Industry (Energy)
Marathon Petroleum Corp., current ratio, long-term trends, comparison to industry (energy)
| Marathon Petroleum Corp. | Energy | |
|---|---|---|
| Dec 31, 2023 | 1.59 | 1.40 |
| Dec 31, 2022 | 1.76 | 1.42 |
| Dec 31, 2021 | 1.70 | 1.15 |
| Dec 31, 2020 | 1.81 | 1.02 |
| Dec 31, 2019 | 1.25 | 1.00 |
| Dec 31, 2018 | 1.36 | 1.06 |
| Dec 31, 2017 | 1.28 | 1.00 |
| Dec 31, 2016 | 1.46 | 1.02 |
| Dec 31, 2015 | 1.49 | 1.09 |
| Dec 31, 2014 | 1.32 | 1.10 |
| Dec 31, 2013 | 1.30 | 1.16 |
| Dec 31, 2012 | 1.59 | 1.31 |
| Dec 31, 2011 | 1.25 | 1.18 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 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).