Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Marathon Petroleum Corp., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 4.23 4.98 3.20 1.79 2.72
Net fixed asset turnover (including operating lease, right-of-use asset) 4.08 4.81 3.09 1.72 2.58
Total asset turnover 1.73 1.97 1.41 0.82 1.26
Equity turnover 6.08 6.40 4.58 3.14 3.68

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Marathon Petroleum Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Marathon Petroleum Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Marathon Petroleum Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Marathon Petroleum Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Net Fixed Asset Turnover

Marathon Petroleum Corp., net fixed asset turnover 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)
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Property, plant and equipment, net 35,112 35,657 37,440 39,035 45,615
Long-term Activity Ratio
Net fixed asset turnover1 4.23 4.98 3.20 1.79 2.72
Benchmarks
Net Fixed Asset Turnover, Competitors2
Chevron Corp. 1.28 1.64 1.06 0.60 0.93
ConocoPhillips 0.80 1.21 0.71 0.47 0.77
Exxon Mobil Corp. 1.56 1.95 1.28 0.78 1.01
Occidental Petroleum Corp. 0.48 0.63 0.43 0.27 0.25
Valero Energy Corp. 4.79 5.69 3.69 2.14 3.70
Net Fixed Asset Turnover, Sector
Oil, Gas & Consumable Fuels 1.62 2.05 1.33 0.79 1.13
Net Fixed Asset Turnover, Industry
Energy 1.65 2.08 1.35 0.83 1.17

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 fixed asset turnover = Sales and other operating revenues ÷ Property, plant and equipment, net
= 148,379 ÷ 35,112 = 4.23

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Marathon Petroleum Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Marathon Petroleum Corp., net fixed asset turnover (including operating lease, right-of-use asset) 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)
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
 
Property, plant and equipment, net 35,112 35,657 37,440 39,035 45,615
Operating lease right of use assets 1,233 1,214 1,372 1,521 2,459
Property, plant and equipment, net (including operating lease, right-of-use asset) 36,345 36,871 38,812 40,556 48,074
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 4.08 4.81 3.09 1.72 2.58
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Chevron Corp. 1.24 1.59 1.03 0.59 0.90
ConocoPhillips 0.79 1.20 0.70 0.46 0.75
Exxon Mobil Corp. 1.51 1.89 1.24 0.76 0.98
Occidental Petroleum Corp. 0.47 0.62 0.43 0.27 0.25
Valero Energy Corp. 4.62 5.50 3.55 2.05 3.54
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Oil, Gas & Consumable Fuels 1.57 2.00 1.29 0.77 1.10
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Energy 1.61 2.02 1.32 0.80 1.14

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 fixed asset turnover (including operating lease, right-of-use asset) = Sales and other operating revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 148,379 ÷ 36,345 = 4.08

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Marathon Petroleum Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Total Asset Turnover

Marathon Petroleum Corp., total asset turnover 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)
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Total assets 85,987 89,904 85,373 85,158 98,556
Long-term Activity Ratio
Total asset turnover1 1.73 1.97 1.41 0.82 1.26
Benchmarks
Total Asset Turnover, Competitors2
Chevron Corp. 0.75 0.91 0.65 0.39 0.59
ConocoPhillips 0.59 0.84 0.51 0.30 0.46
Exxon Mobil Corp. 0.89 1.08 0.82 0.54 0.70
Occidental Petroleum Corp. 0.38 0.50 0.35 0.22 0.19
Valero Energy Corp. 2.30 2.89 1.97 1.25 2.01
Total Asset Turnover, Sector
Oil, Gas & Consumable Fuels 0.95 1.17 0.83 0.52 0.73
Total Asset Turnover, Industry
Energy 0.94 1.15 0.82 0.52 0.72

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
Total asset turnover = Sales and other operating revenues ÷ Total assets
= 148,379 ÷ 85,987 = 1.73

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Marathon Petroleum Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Equity Turnover

Marathon Petroleum Corp., equity turnover 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)
Sales and other operating revenues 148,379 177,453 119,983 69,779 123,949
Total MPC stockholders’ equity 24,404 27,715 26,206 22,199 33,694
Long-term Activity Ratio
Equity turnover1 6.08 6.40 4.58 3.14 3.68
Benchmarks
Equity Turnover, Competitors2
Chevron Corp. 1.22 1.48 1.12 0.72 0.97
ConocoPhillips 1.14 1.64 1.01 0.63 0.93
Exxon Mobil Corp. 1.63 2.04 1.64 1.14 1.33
Occidental Petroleum Corp. 0.93 1.22 1.28 0.96 0.60
Valero Energy Corp. 5.49 7.49 6.18 3.45 4.97
Equity Turnover, Sector
Oil, Gas & Consumable Fuels 1.83 2.28 1.77 1.17 1.48
Equity Turnover, Industry
Energy 1.83 2.26 1.76 1.20 1.47

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
Equity turnover = Sales and other operating revenues ÷ Total MPC stockholders’ equity
= 148,379 ÷ 24,404 = 6.08

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Marathon Petroleum Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.