Stock Analysis on Net
Stock Analysis on Net

Marathon Oil Corp. (NYSE:MRO)

This company has been moved to the archive! The financial data has not been updated since August 4, 2022.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Marathon Oil Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Activity Ratio
Total Asset Turnover
Reported 0.33 0.17 0.25 0.28 0.20
Adjusted 0.33 0.17 0.25 0.28 0.20
Liquidity Ratio
Current Ratio
Reported 1.11 1.33 1.22 1.59 1.30
Adjusted 1.12 1.35 1.23 1.60 1.31
Solvency Ratios
Debt to Equity
Reported 0.38 0.51 0.45 0.45 0.47
Adjusted 0.38 0.52 0.46 0.48 0.46
Debt to Capital
Reported 0.27 0.34 0.31 0.31 0.32
Adjusted 0.27 0.34 0.32 0.32 0.32
Financial Leverage
Reported 1.59 1.70 1.67 1.76 1.88
Adjusted 1.57 1.67 1.64 1.77 1.79
Profitability Ratios
Net Profit Margin
Reported 16.89% -46.85% 9.48% 18.57% -130.87%
Adjusted 16.44% -48.24% 9.64% 21.55% -19.76%
Return on Equity (ROE)
Reported 8.85% -13.74% 3.95% 9.04% -48.88%
Adjusted 8.50% -13.90% 3.95% 10.65% -7.16%
Return on Assets (ROA)
Reported 5.57% -8.08% 2.37% 5.14% -26.00%
Adjusted 5.41% -8.31% 2.41% 6.02% -3.99%

Based on: 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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Marathon Oil Corp. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Marathon Oil Corp. adjusted current ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Marathon Oil Corp. adjusted debt-to-equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Marathon Oil Corp. adjusted debt-to-capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Marathon Oil Corp. adjusted financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Marathon Oil Corp. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Marathon Oil Corp. adjusted ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Marathon Oil Corp. adjusted ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Marathon Oil Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Revenues 5,601 3,097 5,063 5,902 4,373
Total assets 16,994 17,956 20,245 21,321 22,012
Activity Ratio
Total asset turnover1 0.33 0.17 0.25 0.28 0.20
Adjusted
Selected Financial Data (US$ in millions)
Revenues 5,601 3,097 5,063 5,902 4,373
Adjusted total assets2 17,009 17,978 20,256 21,123 21,641
Activity Ratio
Adjusted total asset turnover3 0.33 0.17 0.25 0.28 0.20

Based on: 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).

1 2021 Calculation
Total asset turnover = Revenues ÷ Total assets
= 5,601 ÷ 16,994 = 0.33

2 Adjusted total assets. See details »

3 2021 Calculation
Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 5,601 ÷ 17,009 = 0.33

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Marathon Oil Corp. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Current assets 1,821 1,612 2,135 2,921 2,566
Current liabilities 1,637 1,213 1,745 1,832 1,968
Liquidity Ratio
Current ratio1 1.11 1.33 1.22 1.59 1.30
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 1,836 1,634 2,146 2,932 2,578
Current liabilities 1,637 1,213 1,745 1,832 1,968
Liquidity Ratio
Adjusted current ratio3 1.12 1.35 1.23 1.60 1.31

Based on: 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).

1 2021 Calculation
Current ratio = Current assets ÷ Current liabilities
= 1,821 ÷ 1,637 = 1.11

2 Adjusted current assets. See details »

3 2021 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 1,836 ÷ 1,637 = 1.12

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Marathon Oil Corp. adjusted current ratio improved from 2019 to 2020 but then deteriorated significantly from 2020 to 2021.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 4,044 5,404 5,501 5,499 5,494
Stockholders’ equity 10,686 10,561 12,153 12,128 11,708
Solvency Ratio
Debt to equity1 0.38 0.51 0.45 0.45 0.47
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 4,107 5,541 5,709 5,683 5,600
Adjusted stockholders’ equity3 10,837 10,746 12,350 11,945 12,064
Solvency Ratio
Adjusted debt to equity4 0.38 0.52 0.46 0.48 0.46

Based on: 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).

1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 4,044 ÷ 10,686 = 0.38

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2021 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 4,107 ÷ 10,837 = 0.38

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Marathon Oil Corp. adjusted debt-to-equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total debt 4,044 5,404 5,501 5,499 5,494
Total capital 14,730 15,965 17,654 17,627 17,202
Solvency Ratio
Debt to capital1 0.27 0.34 0.31 0.31 0.32
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 4,107 5,541 5,709 5,683 5,600
Adjusted total capital3 14,944 16,287 18,059 17,628 17,664
Solvency Ratio
Adjusted debt to capital4 0.27 0.34 0.32 0.32 0.32

Based on: 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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 4,044 ÷ 14,730 = 0.27

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2021 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 4,107 ÷ 14,944 = 0.27

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Marathon Oil Corp. adjusted debt-to-capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Total assets 16,994 17,956 20,245 21,321 22,012
Stockholders’ equity 10,686 10,561 12,153 12,128 11,708
Solvency Ratio
Financial leverage1 1.59 1.70 1.67 1.76 1.88
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 17,009 17,978 20,256 21,123 21,641
Adjusted stockholders’ equity3 10,837 10,746 12,350 11,945 12,064
Solvency Ratio
Adjusted financial leverage4 1.57 1.67 1.64 1.77 1.79

Based on: 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).

1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 16,994 ÷ 10,686 = 1.59

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2021 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 17,009 ÷ 10,837 = 1.57

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Marathon Oil Corp. adjusted financial leverage ratio increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 946 (1,451) 480 1,096 (5,723)
Revenues 5,601 3,097 5,063 5,902 4,373
Profitability Ratio
Net profit margin1 16.89% -46.85% 9.48% 18.57% -130.87%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 921 (1,494) 488 1,272 (864)
Revenues 5,601 3,097 5,063 5,902 4,373
Profitability Ratio
Adjusted net profit margin3 16.44% -48.24% 9.64% 21.55% -19.76%

Based on: 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).

1 2021 Calculation
Net profit margin = 100 × Net income (loss) ÷ Revenues
= 100 × 946 ÷ 5,601 = 16.89%

2 Adjusted net income (loss). See details »

3 2021 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Revenues
= 100 × 921 ÷ 5,601 = 16.44%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Marathon Oil Corp. adjusted net profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 946 (1,451) 480 1,096 (5,723)
Stockholders’ equity 10,686 10,561 12,153 12,128 11,708
Profitability Ratio
ROE1 8.85% -13.74% 3.95% 9.04% -48.88%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 921 (1,494) 488 1,272 (864)
Adjusted stockholders’ equity3 10,837 10,746 12,350 11,945 12,064
Profitability Ratio
Adjusted ROE4 8.50% -13.90% 3.95% 10.65% -7.16%

Based on: 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).

1 2021 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 946 ÷ 10,686 = 8.85%

2 Adjusted net income (loss). See details »

3 Adjusted stockholders’ equity. See details »

4 2021 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 921 ÷ 10,837 = 8.50%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Marathon Oil Corp. adjusted ROE deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Reported
Selected Financial Data (US$ in millions)
Net income (loss) 946 (1,451) 480 1,096 (5,723)
Total assets 16,994 17,956 20,245 21,321 22,012
Profitability Ratio
ROA1 5.57% -8.08% 2.37% 5.14% -26.00%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income (loss)2 921 (1,494) 488 1,272 (864)
Adjusted total assets3 17,009 17,978 20,256 21,123 21,641
Profitability Ratio
Adjusted ROA4 5.41% -8.31% 2.41% 6.02% -3.99%

Based on: 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).

1 2021 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 946 ÷ 16,994 = 5.57%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2021 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 921 ÷ 17,009 = 5.41%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Marathon Oil Corp. adjusted ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.