Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

This company has been moved to the archive! The financial data has not been updated since November 5, 2024.

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

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

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 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
Net fixed asset turnover 4.11 4.26 4.18 4.23 4.38 4.47 4.92 4.98 4.89 4.30 3.64 3.20 2.73 2.31 1.83 1.79 2.09 2.14 2.60 2.72
Net fixed asset turnover (including operating lease, right-of-use asset) 3.97 4.12 4.04 4.08 4.22 4.31 4.75 4.81 4.73 4.16 3.52 3.09 2.63 2.22 1.76 1.72 2.00 2.03 2.46 2.58
Total asset turnover 1.78 1.73 1.71 1.73 1.69 1.81 2.00 1.97 1.93 1.65 1.49 1.41 1.15 0.93 0.81 0.82 0.99 1.14 1.37 1.26
Equity turnover 7.50 6.93 6.38 6.08 5.87 6.10 6.49 6.40 6.58 6.06 5.65 4.58 3.63 3.03 3.26 3.14 3.69 4.07 4.89 3.68

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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).

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 Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.
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 Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Marathon Petroleum Corp. total asset turnover ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Marathon Petroleum Corp. equity turnover ratio improved from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Net Fixed Asset Turnover

Marathon Petroleum Corp., net fixed asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 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)
Sales and other operating revenues 35,107 37,914 32,706 36,255 40,917 36,343 34,864 39,813 45,787 53,795 38,058 35,336 32,321 29,615 22,711 17,972 17,408 12,195 22,204 31,092 31,043 33,547 28,267
Property, plant and equipment, net 34,542 34,686 34,963 35,112 34,690 35,059 35,391 35,657 35,384 37,062 37,145 37,440 37,630 37,996 38,491 39,035 39,757 45,025 45,333 45,615 45,034 45,335 45,091
Long-term Activity Ratio
Net fixed asset turnover1 4.11 4.26 4.18 4.23 4.38 4.47 4.92 4.98 4.89 4.30 3.64 3.20 2.73 2.31 1.83 1.79 2.09 2.14 2.60 2.72
Benchmarks
Net Fixed Asset Turnover, Competitors2
Chevron Corp. 1.31 1.29 1.27 1.28 1.32 1.50 1.62 1.64 1.58 1.43 1.22 1.06 0.91 0.77 0.62 0.60 0.73 0.80 0.91 0.93
ConocoPhillips 0.78 0.80 0.79 0.80 0.91 1.02 1.16 1.21 1.18 1.02 0.83 0.71 0.64 0.51 0.39 0.47 0.51 0.59 0.73 0.77
Exxon Mobil Corp. 1.13 1.14 1.55 1.56 1.68 1.76 1.92 1.95 1.90 1.68 1.44 1.28 1.10 0.96 0.81 0.78 0.78 0.85 1.00 1.01
Occidental Petroleum Corp. 0.39 0.46 0.46 0.48 0.50 0.54 0.61 0.63 0.62 0.58 0.49 0.43 0.37 0.32 0.26 0.27 0.29 0.30 0.29 0.25
Texas Pacific Land Corp. 5.77 7.03 7.15 7.05 7.13 7.72 7.73 7.81 8.12 7.12 6.43 5.66 4.81 4.31 3.70 3.82 4.12 4.25 4.46 5.55

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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 Q3 2024 Calculation
Net fixed asset turnover = (Sales and other operating revenuesQ3 2024 + Sales and other operating revenuesQ2 2024 + Sales and other operating revenuesQ1 2024 + Sales and other operating revenuesQ4 2023) ÷ Property, plant and equipment, net
= (35,107 + 37,914 + 32,706 + 36,255) ÷ 34,542 = 4.11

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 Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

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 (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 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)
Sales and other operating revenues 35,107 37,914 32,706 36,255 40,917 36,343 34,864 39,813 45,787 53,795 38,058 35,336 32,321 29,615 22,711 17,972 17,408 12,195 22,204 31,092 31,043 33,547 28,267
 
Property, plant and equipment, net 34,542 34,686 34,963 35,112 34,690 35,059 35,391 35,657 35,384 37,062 37,145 37,440 37,630 37,996 38,491 39,035 39,757 45,025 45,333 45,615 45,034 45,335 45,091
Operating lease right of use assets 1,192 1,187 1,255 1,233 1,310 1,288 1,269 1,214 1,200 1,276 1,331 1,372 1,424 1,500 1,514 1,521 1,640 2,454 2,562 2,459 2,522 2,588 2,680
Property, plant and equipment, net (including operating lease, right-of-use asset) 35,734 35,873 36,218 36,345 36,000 36,347 36,660 36,871 36,584 38,338 38,476 38,812 39,054 39,496 40,005 40,556 41,397 47,479 47,895 48,074 47,556 47,923 47,771
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.97 4.12 4.04 4.08 4.22 4.31 4.75 4.81 4.73 4.16 3.52 3.09 2.63 2.22 1.76 1.72 2.00 2.03 2.46 2.58
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Occidental Petroleum Corp. 0.39 0.45 0.45 0.47 0.50 0.53 0.60 0.62 0.61 0.57 0.48 0.43 0.36 0.31 0.25 0.27 0.29 0.29 0.29 0.25

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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 Q3 2024 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Sales and other operating revenuesQ3 2024 + Sales and other operating revenuesQ2 2024 + Sales and other operating revenuesQ1 2024 + Sales and other operating revenuesQ4 2023) ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= (35,107 + 37,914 + 32,706 + 36,255) ÷ 35,734 = 3.97

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 Q1 2024 to Q2 2024 but then deteriorated significantly from Q2 2024 to Q3 2024.

Total Asset Turnover

Marathon Petroleum Corp., total asset turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 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)
Sales and other operating revenues 35,107 37,914 32,706 36,255 40,917 36,343 34,864 39,813 45,787 53,795 38,058 35,336 32,321 29,615 22,711 17,972 17,408 12,195 22,204 31,092 31,043 33,547 28,267
Total assets 79,833 85,229 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
Long-term Activity Ratio
Total asset turnover1 1.78 1.73 1.71 1.73 1.69 1.81 2.00 1.97 1.93 1.65 1.49 1.41 1.15 0.93 0.81 0.82 0.99 1.14 1.37 1.26
Benchmarks
Total Asset Turnover, Competitors2
Chevron Corp. 0.75 0.76 0.74 0.75 0.77 0.85 0.91 0.91 0.87 0.80 0.71 0.65 0.56 0.48 0.40 0.39 0.47 0.51 0.57 0.59
ConocoPhillips 0.57 0.59 0.58 0.59 0.64 0.74 0.83 0.84 0.79 0.70 0.58 0.51 0.41 0.34 0.27 0.30 0.33 0.39 0.45 0.46
Exxon Mobil Corp. 0.74 0.74 0.88 0.89 0.93 1.00 1.07 1.08 1.05 0.96 0.86 0.82 0.72 0.64 0.54 0.54 0.55 0.59 0.70 0.70
Occidental Petroleum Corp. 0.32 0.36 0.36 0.38 0.41 0.44 0.50 0.50 0.50 0.45 0.39 0.35 0.29 0.24 0.21 0.22 0.24 0.24 0.23 0.19
Texas Pacific Land Corp. 0.58 0.51 0.52 0.55 0.57 0.65 0.70 0.76 0.80 0.78 0.60 0.59 0.55 0.52 0.47 0.53 0.56 0.66 0.73 0.82

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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 Q3 2024 Calculation
Total asset turnover = (Sales and other operating revenuesQ3 2024 + Sales and other operating revenuesQ2 2024 + Sales and other operating revenuesQ1 2024 + Sales and other operating revenuesQ4 2023) ÷ Total assets
= (35,107 + 37,914 + 32,706 + 36,255) ÷ 79,833 = 1.78

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.

Equity Turnover

Marathon Petroleum Corp., equity turnover calculation (quarterly data)

Microsoft Excel
Sep 30, 2024 Jun 30, 2024 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)
Sales and other operating revenues 35,107 37,914 32,706 36,255 40,917 36,343 34,864 39,813 45,787 53,795 38,058 35,336 32,321 29,615 22,711 17,972 17,408 12,195 22,204 31,092 31,043 33,547 28,267
Total MPC stockholders’ equity 18,933 21,324 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
Long-term Activity Ratio
Equity turnover1 7.50 6.93 6.38 6.08 5.87 6.10 6.49 6.40 6.58 6.06 5.65 4.58 3.63 3.03 3.26 3.14 3.69 4.07 4.89 3.68
Benchmarks
Equity Turnover, Competitors2
Chevron Corp. 1.24 1.24 1.21 1.22 1.23 1.35 1.46 1.48 1.43 1.34 1.21 1.12 0.99 0.87 0.73 0.72 0.79 0.86 0.94 0.97
ConocoPhillips 1.11 1.13 1.12 1.14 1.26 1.40 1.58 1.64 1.53 1.30 1.09 1.01 0.82 0.66 0.52 0.63 0.68 0.77 0.94 0.93
Exxon Mobil Corp. 1.27 1.27 1.61 1.63 1.73 1.83 1.99 2.04 2.08 1.99 1.81 1.64 1.50 1.35 1.15 1.14 1.10 1.19 1.37 1.33
Occidental Petroleum Corp. 0.78 0.85 0.88 0.93 1.00 1.08 1.20 1.22 1.26 1.21 1.16 1.28 1.18 1.07 0.90 0.96 1.00 0.92 0.74 0.60
Texas Pacific Land Corp. 0.65 0.56 0.59 0.61 0.64 0.73 0.80 0.86 0.92 0.92 0.71 0.69 0.63 0.61 0.56 0.62 0.65 0.77 0.89 0.96

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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 Q3 2024 Calculation
Equity turnover = (Sales and other operating revenuesQ3 2024 + Sales and other operating revenuesQ2 2024 + Sales and other operating revenuesQ1 2024 + Sales and other operating revenuesQ4 2023) ÷ Total MPC stockholders’ equity
= (35,107 + 37,914 + 32,706 + 36,255) ÷ 18,933 = 7.50

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.