Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Marathon Petroleum Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Marathon Petroleum Corp. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Marathon Petroleum Corp. debt to equity ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Marathon Petroleum Corp. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Marathon Petroleum Corp. debt to capital ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Marathon Petroleum Corp. debt to assets ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Marathon Petroleum Corp. debt to assets ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Marathon Petroleum Corp. financial leverage ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity
Marathon Petroleum Corp., debt to equity calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Total MPC stockholders’ equity | 22,922) | 24,404) | 25,862) | 25,714) | 26,858) | 27,715) | 26,304) | 26,306) | 23,972) | 26,206) | 28,280) | 28,921) | 21,592) | 22,199) | 22,453) | 23,741) | 24,088) | 33,694) | 33,738) | 34,207) | 33,951) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 1.19 | 1.12 | 1.05 | 1.06 | 1.02 | 0.96 | 1.02 | 1.02 | 1.11 | 0.97 | 0.97 | 0.98 | 1.50 | 1.42 | 1.42 | 1.35 | 1.31 | 0.86 | 0.85 | 0.83 | 0.83 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| Chevron Corp. | 0.14 | 0.13 | 0.12 | 0.14 | 0.15 | 0.15 | 0.15 | 0.17 | 0.20 | 0.23 | 0.27 | 0.32 | 0.34 | 0.34 | 0.26 | 0.25 | 0.22 | 0.19 | 0.21 | 0.20 | 0.21 | |||||||
| ConocoPhillips | 0.37 | 0.38 | 0.40 | 0.35 | 0.35 | 0.35 | 0.35 | 0.34 | 0.38 | 0.44 | 0.45 | 0.45 | 0.46 | 0.51 | 0.50 | 0.48 | 0.48 | 0.43 | 0.42 | 0.45 | 0.45 | |||||||
| Exxon Mobil Corp. | 0.20 | 0.20 | 0.21 | 0.21 | 0.21 | 0.21 | 0.24 | 0.26 | 0.28 | 0.28 | 0.35 | 0.38 | 0.40 | 0.43 | 0.39 | 0.39 | 0.33 | 0.24 | 0.25 | 0.24 | 0.21 | |||||||
| Occidental Petroleum Corp. | 0.64 | 0.65 | 0.68 | 0.68 | 0.67 | 0.66 | 0.73 | 0.80 | 1.06 | 1.46 | 1.68 | 1.97 | 1.97 | 1.95 | 1.94 | 1.65 | 1.23 | 1.13 | 1.32 | 0.48 | 0.49 | |||||||
| Valero Energy Corp. | 0.42 | 0.44 | 0.44 | 0.44 | 0.46 | 0.49 | 0.53 | 0.61 | 0.70 | 0.75 | 0.81 | 0.83 | 0.82 | 0.78 | 0.79 | 0.64 | 0.61 | 0.44 | 0.45 | 0.44 | 0.47 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to equity = Total debt ÷ Total MPC stockholders’ equity
= 27,289 ÷ 22,922 = 1.19
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Marathon Petroleum Corp. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity (including Operating Lease Liability)
Marathon Petroleum Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Current operating lease liabilities | 472) | 454) | 453) | 423) | 404) | 368) | 355) | 391) | 420) | 438) | 444) | 473) | 475) | 497) | 531) | 625) | 630) | 604) | 586) | 615) | 613) | |||||||
| Long-term operating lease liabilities | 770) | 764) | 848) | 859) | 858) | 841) | 839) | 879) | 905) | 927) | 975) | 1,020) | 1,007) | 1,014) | 1,116) | 1,850) | 1,949) | 1,875) | 1,962) | 2,068) | 2,153) | |||||||
| Total debt (including operating lease liability) | 28,531) | 28,501) | 28,583) | 28,565) | 28,542) | 27,909) | 27,896) | 28,044) | 28,034) | 26,904) | 28,762) | 29,813) | 33,962) | 33,095) | 33,524) | 34,641) | 34,188) | 31,317) | 31,387) | 31,090) | 30,881) | |||||||
| Total MPC stockholders’ equity | 22,922) | 24,404) | 25,862) | 25,714) | 26,858) | 27,715) | 26,304) | 26,306) | 23,972) | 26,206) | 28,280) | 28,921) | 21,592) | 22,199) | 22,453) | 23,741) | 24,088) | 33,694) | 33,738) | 34,207) | 33,951) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 1.24 | 1.17 | 1.11 | 1.11 | 1.06 | 1.01 | 1.06 | 1.07 | 1.17 | 1.03 | 1.02 | 1.03 | 1.57 | 1.49 | 1.49 | 1.46 | 1.42 | 0.93 | 0.93 | 0.91 | 0.91 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | 0.68 | 0.69 | 0.71 | 0.71 | 0.70 | 0.69 | 0.76 | 0.83 | 1.09 | 1.49 | 1.72 | 2.02 | 2.02 | 2.01 | 2.00 | 1.70 | 1.27 | 1.17 | 1.35 | 0.51 | 0.52 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total MPC stockholders’ equity
= 28,531 ÷ 22,922 = 1.24
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Marathon Petroleum Corp. debt to equity ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Capital
Marathon Petroleum Corp., debt to capital calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Total MPC stockholders’ equity | 22,922) | 24,404) | 25,862) | 25,714) | 26,858) | 27,715) | 26,304) | 26,306) | 23,972) | 26,206) | 28,280) | 28,921) | 21,592) | 22,199) | 22,453) | 23,741) | 24,088) | 33,694) | 33,738) | 34,207) | 33,951) | |||||||
| Total capital | 50,211) | 51,687) | 53,144) | 52,997) | 54,138) | 54,415) | 53,006) | 53,080) | 50,681) | 51,745) | 55,623) | 57,241) | 54,072) | 53,783) | 54,330) | 55,907) | 55,697) | 62,532) | 62,577) | 62,614) | 62,066) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.54 | 0.53 | 0.51 | 0.51 | 0.50 | 0.49 | 0.50 | 0.50 | 0.53 | 0.49 | 0.49 | 0.49 | 0.60 | 0.59 | 0.59 | 0.58 | 0.57 | 0.46 | 0.46 | 0.45 | 0.45 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| Chevron Corp. | 0.12 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.13 | 0.15 | 0.17 | 0.18 | 0.22 | 0.24 | 0.26 | 0.25 | 0.21 | 0.20 | 0.18 | 0.16 | 0.17 | 0.16 | 0.18 | |||||||
| ConocoPhillips | 0.27 | 0.28 | 0.29 | 0.26 | 0.26 | 0.26 | 0.26 | 0.25 | 0.28 | 0.31 | 0.31 | 0.31 | 0.32 | 0.34 | 0.33 | 0.32 | 0.32 | 0.30 | 0.30 | 0.31 | 0.31 | |||||||
| Exxon Mobil Corp. | 0.16 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.20 | 0.21 | 0.22 | 0.22 | 0.26 | 0.28 | 0.29 | 0.30 | 0.28 | 0.28 | 0.25 | 0.20 | 0.20 | 0.19 | 0.18 | |||||||
| Occidental Petroleum Corp. | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 | 0.40 | 0.42 | 0.44 | 0.51 | 0.59 | 0.63 | 0.66 | 0.66 | 0.66 | 0.66 | 0.62 | 0.55 | 0.53 | 0.57 | 0.32 | 0.33 | |||||||
| Valero Energy Corp. | 0.29 | 0.30 | 0.31 | 0.30 | 0.31 | 0.33 | 0.35 | 0.38 | 0.41 | 0.43 | 0.45 | 0.45 | 0.45 | 0.44 | 0.44 | 0.39 | 0.38 | 0.31 | 0.31 | 0.31 | 0.32 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 27,289 ÷ 50,211 = 0.54
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Marathon Petroleum Corp. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Capital (including Operating Lease Liability)
Marathon Petroleum Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Current operating lease liabilities | 472) | 454) | 453) | 423) | 404) | 368) | 355) | 391) | 420) | 438) | 444) | 473) | 475) | 497) | 531) | 625) | 630) | 604) | 586) | 615) | 613) | |||||||
| Long-term operating lease liabilities | 770) | 764) | 848) | 859) | 858) | 841) | 839) | 879) | 905) | 927) | 975) | 1,020) | 1,007) | 1,014) | 1,116) | 1,850) | 1,949) | 1,875) | 1,962) | 2,068) | 2,153) | |||||||
| Total debt (including operating lease liability) | 28,531) | 28,501) | 28,583) | 28,565) | 28,542) | 27,909) | 27,896) | 28,044) | 28,034) | 26,904) | 28,762) | 29,813) | 33,962) | 33,095) | 33,524) | 34,641) | 34,188) | 31,317) | 31,387) | 31,090) | 30,881) | |||||||
| Total MPC stockholders’ equity | 22,922) | 24,404) | 25,862) | 25,714) | 26,858) | 27,715) | 26,304) | 26,306) | 23,972) | 26,206) | 28,280) | 28,921) | 21,592) | 22,199) | 22,453) | 23,741) | 24,088) | 33,694) | 33,738) | 34,207) | 33,951) | |||||||
| Total capital (including operating lease liability) | 51,453) | 52,905) | 54,445) | 54,279) | 55,400) | 55,624) | 54,200) | 54,350) | 52,006) | 53,110) | 57,042) | 58,734) | 55,554) | 55,294) | 55,977) | 58,382) | 58,276) | 65,011) | 65,125) | 65,297) | 64,832) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.55 | 0.54 | 0.52 | 0.53 | 0.52 | 0.50 | 0.51 | 0.52 | 0.54 | 0.51 | 0.50 | 0.51 | 0.61 | 0.60 | 0.60 | 0.59 | 0.59 | 0.48 | 0.48 | 0.48 | 0.48 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | 0.40 | 0.41 | 0.41 | 0.42 | 0.41 | 0.41 | 0.43 | 0.45 | 0.52 | 0.60 | 0.63 | 0.67 | 0.67 | 0.67 | 0.67 | 0.63 | 0.56 | 0.54 | 0.57 | 0.34 | 0.34 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 28,531 ÷ 51,453 = 0.55
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Marathon Petroleum Corp. debt to capital ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Assets
Marathon Petroleum Corp., debt to assets calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Total assets | 85,528) | 85,987) | 89,969) | 86,442) | 87,037) | 89,904) | 89,694) | 96,737) | 90,952) | 85,373) | 89,300) | 94,300) | 86,651) | 85,158) | 84,020) | 84,593) | 86,317) | 98,556) | 98,139) | 96,896) | 96,436) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.32 | 0.32 | 0.30 | 0.32 | 0.31 | 0.30 | 0.30 | 0.28 | 0.29 | 0.30 | 0.31 | 0.30 | 0.37 | 0.37 | 0.38 | 0.38 | 0.37 | 0.29 | 0.29 | 0.29 | 0.29 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| Chevron Corp. | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.09 | 0.10 | 0.12 | 0.13 | 0.16 | 0.18 | 0.19 | 0.18 | 0.16 | 0.15 | 0.14 | 0.11 | 0.13 | 0.12 | 0.13 | |||||||
| ConocoPhillips | 0.19 | 0.20 | 0.20 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.20 | 0.22 | 0.23 | 0.23 | 0.24 | 0.25 | 0.24 | 0.24 | 0.23 | 0.21 | 0.21 | 0.21 | 0.21 | |||||||
| Exxon Mobil Corp. | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.17 | 0.18 | 0.19 | 0.20 | 0.19 | 0.19 | 0.17 | 0.13 | 0.13 | 0.13 | 0.11 | |||||||
| Occidental Petroleum Corp. | 0.27 | 0.27 | 0.28 | 0.28 | 0.28 | 0.27 | 0.29 | 0.30 | 0.36 | 0.39 | 0.42 | 0.45 | 0.45 | 0.45 | 0.46 | 0.43 | 0.38 | 0.35 | 0.38 | 0.23 | 0.23 | |||||||
| Valero Energy Corp. | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.22 | 0.24 | 0.26 | 0.26 | 0.27 | 0.28 | 0.29 | 0.26 | 0.24 | 0.18 | 0.19 | 0.18 | 0.19 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 27,289 ÷ 85,528 = 0.32
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Marathon Petroleum Corp. debt to assets ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Assets (including Operating Lease Liability)
Marathon Petroleum Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Debt due within one year | 2,457) | 1,954) | 819) | 72) | 75) | 1,066) | 1,064) | 1,087) | 1,075) | 571) | 73) | 70) | 1,786) | 2,854) | 2,500) | 1,715) | 1,710) | 711) | 557) | 554) | 550) | |||||||
| Long-term debt due after one year | 24,832) | 25,329) | 26,463) | 27,211) | 27,205) | 25,634) | 25,638) | 25,687) | 25,634) | 24,968) | 27,270) | 28,250) | 30,694) | 28,730) | 29,377) | 30,451) | 29,899) | 28,127) | 28,282) | 27,853) | 27,565) | |||||||
| Total debt | 27,289) | 27,283) | 27,282) | 27,283) | 27,280) | 26,700) | 26,702) | 26,774) | 26,709) | 25,539) | 27,343) | 28,320) | 32,480) | 31,584) | 31,877) | 32,166) | 31,609) | 28,838) | 28,839) | 28,407) | 28,115) | |||||||
| Current operating lease liabilities | 472) | 454) | 453) | 423) | 404) | 368) | 355) | 391) | 420) | 438) | 444) | 473) | 475) | 497) | 531) | 625) | 630) | 604) | 586) | 615) | 613) | |||||||
| Long-term operating lease liabilities | 770) | 764) | 848) | 859) | 858) | 841) | 839) | 879) | 905) | 927) | 975) | 1,020) | 1,007) | 1,014) | 1,116) | 1,850) | 1,949) | 1,875) | 1,962) | 2,068) | 2,153) | |||||||
| Total debt (including operating lease liability) | 28,531) | 28,501) | 28,583) | 28,565) | 28,542) | 27,909) | 27,896) | 28,044) | 28,034) | 26,904) | 28,762) | 29,813) | 33,962) | 33,095) | 33,524) | 34,641) | 34,188) | 31,317) | 31,387) | 31,090) | 30,881) | |||||||
| Total assets | 85,528) | 85,987) | 89,969) | 86,442) | 87,037) | 89,904) | 89,694) | 96,737) | 90,952) | 85,373) | 89,300) | 94,300) | 86,651) | 85,158) | 84,020) | 84,593) | 86,317) | 98,556) | 98,139) | 96,896) | 96,436) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.33 | 0.33 | 0.32 | 0.33 | 0.33 | 0.31 | 0.31 | 0.29 | 0.31 | 0.32 | 0.32 | 0.32 | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 | 0.32 | 0.32 | 0.32 | 0.32 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Occidental Petroleum Corp. | 0.28 | 0.28 | 0.29 | 0.29 | 0.29 | 0.29 | 0.30 | 0.31 | 0.37 | 0.40 | 0.43 | 0.46 | 0.47 | 0.47 | 0.47 | 0.44 | 0.39 | 0.37 | 0.39 | 0.24 | 0.25 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 28,531 ÷ 85,528 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Marathon Petroleum Corp. debt to assets ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Financial Leverage
Marathon Petroleum Corp., financial leverage calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Total assets | 85,528) | 85,987) | 89,969) | 86,442) | 87,037) | 89,904) | 89,694) | 96,737) | 90,952) | 85,373) | 89,300) | 94,300) | 86,651) | 85,158) | 84,020) | 84,593) | 86,317) | 98,556) | 98,139) | 96,896) | 96,436) | |||||||
| Total MPC stockholders’ equity | 22,922) | 24,404) | 25,862) | 25,714) | 26,858) | 27,715) | 26,304) | 26,306) | 23,972) | 26,206) | 28,280) | 28,921) | 21,592) | 22,199) | 22,453) | 23,741) | 24,088) | 33,694) | 33,738) | 34,207) | 33,951) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 3.73 | 3.52 | 3.48 | 3.36 | 3.24 | 3.24 | 3.41 | 3.68 | 3.79 | 3.26 | 3.16 | 3.26 | 4.01 | 3.84 | 3.74 | 3.56 | 3.58 | 2.93 | 2.91 | 2.83 | 2.84 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| Chevron Corp. | 1.63 | 1.63 | 1.60 | 1.59 | 1.60 | 1.62 | 1.64 | 1.68 | 1.70 | 1.72 | 1.77 | 1.82 | 1.83 | 1.82 | 1.69 | 1.67 | 1.64 | 1.65 | 1.65 | 1.64 | 1.66 | |||||||
| ConocoPhillips | 1.93 | 1.95 | 1.96 | 1.89 | 1.91 | 1.95 | 1.93 | 1.87 | 1.90 | 2.00 | 1.98 | 1.93 | 1.94 | 2.10 | 2.05 | 2.00 | 2.08 | 2.02 | 2.00 | 2.16 | 2.18 | |||||||
| Exxon Mobil Corp. | 1.84 | 1.84 | 1.86 | 1.82 | 1.86 | 1.89 | 1.99 | 2.07 | 2.10 | 2.01 | 2.10 | 2.13 | 2.13 | 2.12 | 2.02 | 2.01 | 1.95 | 1.89 | 1.89 | 1.88 | 1.86 | |||||||
| Occidental Petroleum Corp. | 2.41 | 2.45 | 2.45 | 2.45 | 2.42 | 2.41 | 2.51 | 2.67 | 2.98 | 3.69 | 4.01 | 4.38 | 4.34 | 4.31 | 4.25 | 3.83 | 3.25 | 3.19 | 3.48 | 2.10 | 2.09 | |||||||
| Valero Energy Corp. | 2.40 | 2.39 | 2.43 | 2.35 | 2.41 | 2.59 | 2.71 | 3.07 | 3.21 | 3.14 | 3.13 | 3.14 | 3.01 | 2.75 | 2.69 | 2.47 | 2.53 | 2.47 | 2.43 | 2.44 | 2.44 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Financial leverage = Total assets ÷ Total MPC stockholders’ equity
= 85,528 ÷ 22,922 = 3.73
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Marathon Petroleum Corp. financial leverage ratio increased from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |