Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

Enterprise Value (EV)

Microsoft Excel

Current Enterprise Value (EV)

Marathon Petroleum Corp., current enterprise value calculation

Microsoft Excel
Current share price (P) $158.80
No. shares of common stock outstanding 321,388,952
US$ in millions
Common equity (market value)1 51,037
Add: Preferred stock, no shares issued and outstanding, par value $0.01 per share (per books)
Add: Noncontrolling interests (per books) 6,100
Total equity 57,137
Add: Debt due within one year (per books) 1,954
Add: Long-term debt due after one year (per books) 25,329
Total equity and debt 84,420
Less: Cash and cash equivalents 5,443
Less: Short-term investments 4,781
Enterprise value (EV) 74,196

Based on: 10-K (reporting date: 2023-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 158.80 × 321,388,952


Historical Enterprise Value (EV)

Marathon Petroleum Corp., EV calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Share price1, 2 $167.16 $125.52 $74.46 $54.62 $47.42
No. shares of common stock outstanding1 361,358,732 445,546,907 565,212,958 651,274,842 649,503,967
US$ in millions
Common equity (market value)3 60,405 55,925 42,086 35,573 30,799
Add: Preferred stock, no shares issued and outstanding, par value $0.01 per share (book value)
Add: Noncontrolling interests (book value) 6,100 6,404 6,410 7,053 8,445
Total equity 66,505 62,329 48,496 42,626 39,244
Add: Debt due within one year (book value) 1,954 1,066 571 2,854 711
Add: Long-term debt due after one year (book value) 25,329 25,634 24,968 28,730 28,127
Total equity and debt 93,788 89,029 74,035 74,210 68,082
Less: Cash and cash equivalents 5,443 8,625 5,291 415 1,527
Less: Short-term investments 4,781 3,145 5,548
Enterprise value (EV) 83,564 77,259 63,196 73,795 66,555

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 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Marathon Petroleum Corp. Annual Report.

3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 167.16 × 361,358,732

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Marathon Petroleum Corp. EV increased from 2021 to 2022 and from 2022 to 2023.