Operating Profit Margin
since 2011
Calculation
Marathon Petroleum Corp., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Income (loss) from operations1 | ÷ | Sales and other operating revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 9.78% | = | 100 | × | 14,514) | ÷ | 148,379) |
| Dec 31, 2022 | 12.10% | = | 100 | × | 21,469) | ÷ | 177,453) |
| Dec 31, 2021 | 3.58% | = | 100 | × | 4,300) | ÷ | 119,983) |
| Dec 31, 2020 | -17.55% | = | 100 | × | (12,247) | ÷ | 69,779) |
| Dec 31, 2019 | 4.50% | = | 100 | × | 5,576) | ÷ | 123,949) |
| Dec 31, 2018 | 5.77% | = | 100 | × | 5,571) | ÷ | 96,504) |
| Dec 31, 2017 | 5.31% | = | 100 | × | 3,969) | ÷ | 74,733) |
| Dec 31, 2016 | 3.75% | = | 100 | × | 2,378) | ÷ | 63,339) |
| Dec 31, 2015 | 6.51% | = | 100 | × | 4,692) | ÷ | 72,051) |
| Dec 31, 2014 | 4.14% | = | 100 | × | 4,051) | ÷ | 97,817) |
| Dec 31, 2013 | 3.42% | = | 100 | × | 3,425) | ÷ | 100,160) |
| Dec 31, 2012 | 6.50% | = | 100 | × | 5,347) | ÷ | 82,243) |
| Dec 31, 2011 | 4.76% | = | 100 | × | 3,745) | ÷ | 78,638) |
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 operating profit margin of Marathon Petroleum Corp. exhibited a period of relative stability from 2011 through 2019, followed by extreme volatility between 2020 and 2023. While the company maintained modest margins for nearly a decade, recent years have seen an unprecedented shift from significant operating losses to record-high profitability levels.
- Historical Margin Stability (2011–2019)
- During this interval, the operating profit margin fluctuated within a narrow range, typically between 3.42% and 6.51%. The lowest point in this period occurred in 2013 at 3.42%, while peaks were reached in 2012 and 2015, both at approximately 6.5%. This indicates a consistent operational efficiency relative to revenue throughout the majority of the decade.
- Operational Contraction in 2020
- A severe downturn occurred in 2020, with the operating profit margin collapsing to -17.55%. This decline corresponds with an operating loss of 12.247 billion US dollars, representing a sharp deviation from historical performance and the lowest margin recorded in the provided timeframe.
- Recovery and Profitability Expansion (2021–2023)
- A rapid recovery was observed starting in 2021, as the margin returned to positive territory at 3.58%. This momentum accelerated in 2022, with the margin surging to a period peak of 12.10%, supported by record operating income of 21.469 billion US dollars. Although the margin moderated to 9.78% in 2023, it remains substantially higher than the average margins observed between 2011 and 2019, suggesting a structural increase in operational profitability.
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