Marathon Petroleum (MPC) FY2016 results: revenue $63.3 billion, down 12.2% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $63.3 billion for fiscal 2016, the year ended 31 December 2016, down 12.2% on the year before. Net income was $1.2 billion, down 58.8%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$63.3 billion
-12.2% on the year
FY2009FY2016
Operating margin
3.8%
6.5% a year earlier
FY2009FY2016
Net income
$1.2 billion
-58.8% on the year
FY2009FY2016
Diluted EPS
$2.21
-58.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
63,277
72,051
97,817
-12.2%
Cost of revenue
56,676
n/a
n/a
Gross profit
6,601
n/a
n/a
Gross margin
10.4%
n/a
n/a
Selling, general and administrative
1,597
1,576
1,375
+1.3%
Operating income
2,386
4,692
4,051
-49.1%
Operating margin
3.8%
6.5%
4.1%
Interest expense
602
325
229
+85.2%
Pre-tax income
1,822
4,374
3,835
-58.3%
Income tax
609
1,506
1,280
-59.6%
Effective tax rate
33.4%
34.4%
33.4%
Net income
1,174
2,852
2,524
-58.8%
Net margin
1.9%
4.0%
2.6%
Diluted EPS
$2.21
$5.26
$4.39
-58.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
4,017
4,073
3,110
-1.4%
Capital expenditure
2,892
1,998
1,480
+44.7%
Free cash flow
1,125
2,075
1,630
-45.8%
Free cash flow margin
1.8%
2.9%
1.7%
Cash from investing
-2,967
-3,441
-4,543
Cash from financing
-1,294
-999
635
Depreciation and amortisation
2,001
1,502
1,326
+33.2%
Share-based compensation
45.0
42.0
40.0
+7.1%
Buybacks
197
965
2,131
-79.6%
Dividends paid
719
613
524
+17.3%
Dividend per share
$1.36
$1.14
$0.92
+19.3%
Diluted shares, weighted
530m
542m
574m
-2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
13,557
13,237
10,751
+2.4%
Non-controlling interest
6,646
6,438
639
+3.2%
Redeemable equity
1,000
0.0
n/a
Debt
10,544
11,896
6,575
-11.4%
Other liabilities
12,666
11,544
12,495
+9.7%
Total liabilities and equity
44,413
43,115
30,460
+3.0%
Fixed assets
25,765
25,164
16,261
+2.4%
Goodwill
3,587
4,019
1,566
-10.7%
Intangible assets
725
719
287
+0.8%
Cash and equivalents
887
1,127
1,494
-21.3%
Receivables
3,617
2,927
4,058
+23.6%
Inventory
5,656
5,225
5,642
+8.2%
Other assets
4,176
3,934
1,152
+6.2%
Total assets
44,413
43,115
30,460
+3.0%
10-K for the year ended 31 December 2016, filed 28 February 2019: the filing.