NYSE · Financial Statements

MPLX Lp (MPLX) Financial Statements

$56.72 NYSE: MPLX Market Cap $57.55B

MPLX Lp most recently reported annual revenue of $11.8B, net profit of $4.9B. Revenue grew at an average annual rate of 7.1% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

MPLX Lp: Revenue rose from $3.0B in 2016 to $11.8B in 2025, a change of +292.6% over 9 years; net profit was positive in 9 of 10 reported years; operating margin moved from 22.7% to 40.3%, a shift of +17.6 percentage points; the most recent year shows net profit of $4.9B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$3.0B$3.7B$6.7B$8.6B$8.4B$9.6B$10.5B$10.4B$10.9B$11.8B
Operating Expenses$2.3B$2.5B$3.9B$6.3B$8.2B$5.6B$5.6B$5.5B$5.6B$7.1B
Operating Profit$683.0M$1.2B$2.7B$2.4B$211.0M$4.0B$4.9B$4.9B$5.3B$4.8B
Operating Margin22.7%32.3%41.0%27.5%2.5%41.7%46.6%47.0%48.5%40.3%
Other Income$-261.0M$-354.0M$-714.0M$-915.0M$-896.0M$-879.0M$-925.0M$-923.0M$-921.0M$198.0M
Interest$211.0M$354.0M$661.0M$915.0M$896.0M$879.0M$925.0M$923.0M$921.0M$983.0M
Depreciation$591.0M$683.0M$867.0M$1.3B$1.4B$1.3B$1.2B$1.2B$1.3B$1.4B
Profit Before Tax$246.0M$837.0M$1.8B$1.5B$-685.0M$3.1B$4.0B$4.0B$4.4B$5.0B
Tax$-4.9M$120,000$430,000$0$-290,000$30,000$200,000$280,000$230,000$160,000
Net Profit$233.0M$794.0M$1.8B$1.0B$-720.0M$3.1B$3.9B$3.9B$4.3B$4.9B
EPS$0.00$1.06$2.39$1.03$-0.80$2.86$3.75$3.82$4.21$4.82
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26
Revenue$2.5B$2.7B$2.7B$2.6B$2.7B$2.8B$2.8B$2.9B$2.8B$3.6B$3.1B$2.9B
Operating Expenses$1.3B$1.6B$1.3B$1.4B$1.3B$1.5B$1.5B$1.5B$1.5B$1.8B$1.8B$1.8B
Operating Profit$1.2B$1.2B$1.4B$1.3B$1.4B$1.3B$1.3B$1.4B$1.3B$1.8B$1.3B$1.0B
Operating Margin47.1%42.5%51.4%48.0%52.9%45.9%47.3%47.3%46.4%49.8%42.9%35.8%
Interest$233.0M$225.0M$222.0M$235.0M$231.0M$246.0M$241.0M$235.0M$250.0M$259.0M$277.0M$310.0M
Profit Before Tax$942.0M$929.0M$1.2B$1.0B$1.2B$1.0B$1.1B$1.1B$1.1B$1.6B$1.2B$923.0M
Tax$0$110,000$780,000$100,000$170,000$190,000$450,000$90,000$90,000$190,000$250,000$110,000
Net Profit$933.0M$918.0M$1.1B$1.0B$1.2B$1.0B$1.1B$1.1B$1.0B$1.5B$1.2B$912.0M
EPS$0.91$0.89$1.11$0.98$1.14$1.01$1.07$1.10$1.03$1.52$1.17$0.90

Over the 10 years reported for MPLX Lp, borrowings increased from $4.4B in 2016 to $26.2B in 2025, cash stood at $2.1B in the latest year, shareholders' equity was $14.3B, current assets covered current liabilities 1.23 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$16.6B$19.5B$22.8B$40.4B$36.4B$35.5B$35.7B$36.5B$37.5B$43.0B
Current Assets$740.0M$559.0M$897.0M$1.5B$1.5B$1.5B$1.9B$2.8B$3.3B$4.0B
Cash$239.0M$9.0M$76.0M$15.0M$15.0M$13.0M$238.0M$1.0B$1.5B$2.1B
Inventory$54.0M$65.0M$77.0M$110.0M$118.0M$142.0M$148.0M$159.0M$180.0M$172.0M
Receivables$419.0M$452.0M$706.0M$1.3B$1.2B$1.3B$1.5B$1.6B$1.5B$1.6B
Fixed Assets$10.7B$12.2B$14.6B$22.7B$21.8B$20.5B$19.4B$19.8B$19.7B$22.2B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$2.5B$4.0B$4.2B$5.3B$4.5B$4.9B$5.0B$4.6B$5.2B$5.3B
Other Assets$2.2B$2.2B$2.6B$9.5B$7.7B$7.7B$7.6B$7.6B$7.6B$8.8B
Total Liabilities$5.3B$8.5B$14.9B$22.8B$22.4B$22.5B$22.2B$22.9B$23.5B$28.5B
Current Liabilities$704.0M$1.3B$1.2B$2.1B$2.1B$3.3B$2.4B$2.6B$3.2B$3.2B
Borrowings$4.4B$7.3B$13.4B$20.3B$20.7B$19.1B$20.3B$20.9B$21.4B$26.2B
Other Liabilities$905.0M$1.2B$1.5B$2.5B$1.8B$3.4B$1.8B$2.0B$2.1B$2.3B
Equity$9.3B$9.8B$6.7B$15.8B$12.2B$11.2B$11.7B$12.5B$13.6B$14.3B
Reserves$10.3B$10.8B$7.7B$17.3B$13.7B$12.8B$13.5B$13.3B$13.8B$14.3B

For MPLX Lp, operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $4.1B; free cash flow was positive in 10 of 10 years; financing activities used $488.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$1.3B$1.9B$2.8B$4.1B$4.5B$4.9B$5.0B$5.4B$5.9B$5.9B
Investing Cash Flow$-2.5B$-3.7B$-4.9B$-5.5B$-2.4B$-1.0B$-1.8B$-2.2B$-3.1B$-6.7B
Financing Cash Flow$1.8B$-230.0M$-22.0M$106.0M$-30.0M$-626.0M$-489.0M$-627.0M$-356.0M$-488.0M
Net Cash Flow$191.0M$-229.0M$67.0M$-70.0M$0$-2.0M$225.0M$810.0M$471.0M$618.0M
Free Cash Flow$82.0M$496.0M$907.0M$1.7B$3.3B$4.4B$4.2B$4.5B$4.9B$4.1B

Valuation & Return Ratios

MetricValue
PEG Ratio1.77
EV / EBITDA11.39
FCF Yield8.67%
Quick Ratio1.05
Interest Coverage4.97
Return 1Y25.62%
Return 3Y109.02%
Return 5Y192.23%

MPLX Lp (MPLX) financials — frequently asked questions

What is MPLX Lp's annual revenue?

MPLX Lp (MPLX) reported annual revenue of $11.8B in its most recent fiscal year.

What is MPLX Lp's net profit?

MPLX Lp (MPLX) reported net profit of $4.9B in its most recent fiscal year.

What is MPLX EV/EBITDA?

MPLX Lp's enterprise value to EBITDA (EV/EBITDA) ratio is 11.39.

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