Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

Analysis of Profitability Ratios 

Microsoft Excel

Profitability Ratios (Summary)

Marathon Petroleum Corp., profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Return on Sales
Gross profit margin 13.35% 14.53% 8.31% 5.80% 11.06%
Operating profit margin 9.78% 12.10% 3.58% -17.55% 4.50%
Net profit margin 6.52% 8.18% 8.12% -14.08% 2.13%
Return on Investment
Return on equity (ROE) 39.67% 52.38% 37.16% -44.26% 7.83%
Return on assets (ROA) 11.26% 16.15% 11.41% -11.54% 2.68%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Marathon Petroleum Corp. gross profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Marathon Petroleum Corp. operating profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Marathon Petroleum Corp. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Marathon Petroleum Corp. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
ROA A profitability ratio calculated as net income divided by total assets. Marathon Petroleum Corp. ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Gross Profit Margin

Marathon Petroleum Corp., gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Gross margin 19,813 25,782 9,975 4,046 13,706
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Profitability Ratio
Gross profit margin1 13.35% 14.53% 8.31% 5.80% 11.06%
Benchmarks
Gross Profit Margin, Competitors2
Valero Energy Corp. 8.93% 9.52% 2.75% -1.14% 4.41%

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).

1 2023 Calculation
Gross profit margin = 100 × Gross margin ÷ Sales and other operating revenues
= 100 × 19,813 ÷ 148,379 = 13.35%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Marathon Petroleum Corp. gross profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Operating Profit Margin

Marathon Petroleum Corp., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Income (loss) from operations 14,514 21,469 4,300 (12,247) 5,576
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Profitability Ratio
Operating profit margin1 9.78% 12.10% 3.58% -17.55% 4.50%
Benchmarks
Operating Profit Margin, Competitors2
Chevron Corp. 15.37% 21.42% 14.81% -6.22% 4.83%
ConocoPhillips 30.57% 36.80% 29.84% -12.74% 32.04%
Exxon Mobil Corp. 16.24% 19.82% 11.91% -14.85% 8.66%
Occidental Petroleum Corp. 24.21% 38.32% 17.59% -79.89% 3.17%
Valero Energy Corp. 8.19% 8.90% 1.87% -2.43% 3.54%
Operating Profit Margin, Sector
Oil, Gas & Consumable Fuels 14.85% 19.00% 10.93% -14.14% 7.25%
Operating Profit Margin, Industry
Energy 14.90% 18.89% 10.97% -15.78% 5.50%

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).

1 2023 Calculation
Operating profit margin = 100 × Income (loss) from operations ÷ Sales and other operating revenues
= 100 × 14,514 ÷ 148,379 = 9.78%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Marathon Petroleum Corp. operating profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Net Profit Margin

Marathon Petroleum Corp., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to MPC 9,681 14,516 9,738 (9,826) 2,637
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Profitability Ratio
Net profit margin1 6.52% 8.18% 8.12% -14.08% 2.13%
Benchmarks
Net Profit Margin, Competitors2
Chevron Corp. 10.85% 15.05% 10.04% -5.87% 2.09%
ConocoPhillips 19.52% 23.80% 17.63% -14.38% 22.07%
Exxon Mobil Corp. 10.76% 13.98% 8.33% -12.57% 5.61%
Occidental Petroleum Corp. 16.62% 36.32% 8.95% -83.28% -3.27%
Valero Energy Corp. 6.10% 6.54% 0.82% -2.19% 2.24%
Net Profit Margin, Sector
Oil, Gas & Consumable Fuels 10.07% 13.53% 8.09% -12.77% 4.24%
Net Profit Margin, Industry
Energy 10.16% 13.49% 8.10% -14.38% 2.62%

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).

1 2023 Calculation
Net profit margin = 100 × Net income (loss) attributable to MPC ÷ Sales and other operating revenues
= 100 × 9,681 ÷ 148,379 = 6.52%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Marathon Petroleum Corp. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Return on Equity (ROE)

Marathon Petroleum Corp., ROE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to MPC 9,681 14,516 9,738 (9,826) 2,637
Total MPC stockholders’ equity 24,404 27,715 26,206 22,199 33,694
Profitability Ratio
ROE1 39.67% 52.38% 37.16% -44.26% 7.83%
Benchmarks
ROE, Competitors2
Chevron Corp. 13.28% 22.27% 11.24% -4.21% 2.03%
ConocoPhillips 22.23% 38.91% 17.79% -9.05% 20.55%
Exxon Mobil Corp. 17.58% 28.58% 13.67% -14.28% 7.48%
Occidental Petroleum Corp. 15.52% 44.22% 11.42% -79.85% -1.95%
Valero Energy Corp. 33.53% 48.93% 5.05% -7.56% 11.11%
ROE, Sector
Oil, Gas & Consumable Fuels 18.46% 30.85% 14.29% -15.01% 6.26%
ROE, Industry
Energy 18.55% 30.45% 14.23% -17.24% 3.86%

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).

1 2023 Calculation
ROE = 100 × Net income (loss) attributable to MPC ÷ Total MPC stockholders’ equity
= 100 × 9,681 ÷ 24,404 = 39.67%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Marathon Petroleum Corp. ROE improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Return on Assets (ROA)

Marathon Petroleum Corp., ROA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to MPC 9,681 14,516 9,738 (9,826) 2,637
Total assets 85,987 89,904 85,373 85,158 98,556
Profitability Ratio
ROA1 11.26% 16.15% 11.41% -11.54% 2.68%
Benchmarks
ROA, Competitors2
Chevron Corp. 8.17% 13.76% 6.52% -2.31% 1.23%
ConocoPhillips 11.42% 19.91% 8.91% -4.31% 10.20%
Exxon Mobil Corp. 9.57% 15.10% 6.80% -6.74% 3.95%
Occidental Petroleum Corp. 6.35% 18.32% 3.09% -18.52% -0.61%
Valero Energy Corp. 14.01% 18.90% 1.61% -2.74% 4.50%
ROA, Sector
Oil, Gas & Consumable Fuels 9.57% 15.81% 6.73% -6.66% 3.09%
ROA, Industry
Energy 9.53% 15.46% 6.63% -7.52% 1.89%

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).

1 2023 Calculation
ROA = 100 × Net income (loss) attributable to MPC ÷ Total assets
= 100 × 9,681 ÷ 85,987 = 11.26%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Marathon Petroleum Corp. ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.