Marathon Petroleum (MPC) FY2015 results: revenue $72.1 billion, down 26.3% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $72.1 billion for fiscal 2015, the year ended 31 December 2015, down 26.3% on the year before. Net income was $2.9 billion, up 13.0%, and diluted earnings per share $5.26. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$72.1 billion
-26.3% on the year
FY2009FY2015
Operating margin
6.5%
4.1% a year earlier
FY2009FY2015
Net income
$2.9 billion
+13.0% on the year
FY2009FY2015
Diluted EPS
$5.26
+19.8% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
72,051
97,817
100,160
-26.3%
Selling, general and administrative
1,576
1,375
1,248
+14.6%
Operating income
4,692
4,051
3,425
+15.8%
Operating margin
6.5%
4.1%
3.4%
Interest expense
325
229
195
+41.9%
Pre-tax income
4,374
3,835
3,246
+14.1%
Income tax
1,506
1,280
1,113
+17.7%
Effective tax rate
34.4%
33.4%
34.3%
Net income
2,852
2,524
2,112
+13.0%
Net margin
4.0%
2.6%
2.1%
Diluted EPS
$5.26
$4.39
$3.32
+19.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
4,073
3,110
3,405
+31.0%
Capital expenditure
1,998
1,480
1,206
+35.0%
Free cash flow
2,075
1,630
2,199
+27.3%
Free cash flow margin
2.9%
1.7%
2.2%
Cash from investing
-3,441
-4,543
-2,756
Cash from financing
-999
635
-3,217
Depreciation and amortisation
1,502
1,326
1,220
+13.3%
Share-based compensation
42.0
40.0
42.0
+5.0%
Buybacks
965
2,131
2,793
-54.7%
Dividends paid
613
524
484
+17.0%
Dividend per share
$1.14
$0.92
$0.77
+23.9%
Diluted shares, weighted
542m
574m
634m
-5.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
13,237
10,751
10,920
+23.1%
Non-controlling interest
6,438
639
412
+907.5%
Redeemable equity
0.0
n/a
n/a
Debt
11,896
6,575
3,396
+80.9%
Other liabilities
11,544
12,495
13,657
-7.6%
Total liabilities and equity
43,115
30,460
28,385
+41.5%
Fixed assets
25,164
16,261
13,921
+54.8%
Goodwill
4,019
1,566
938
+156.6%
Intangible assets
719
287
n/a
+150.5%
Cash and equivalents
1,127
1,494
2,292
-24.6%
Receivables
2,927
4,058
5,559
-27.9%
Inventory
5,225
5,642
4,689
-7.4%
Other assets
3,934
1,152
986
+241.5%
Total assets
43,115
30,460
28,385
+41.5%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.