Marathon Petroleum (MPC) FY2017 results: revenue $74.7 billion, up 18.1% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $74.7 billion for fiscal 2017, the year ended 31 December 2017, up 18.1% on the year before. Net income was $3.4 billion, up 192.3%, and diluted earnings per share $6.70. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$74.7 billion
+18.1% on the year
FY2010FY2017
Operating margin
5.4%
3.8% a year earlier
FY2010FY2017
Net income
$3.4 billion
+192.3% on the year
FY2010FY2017
Diluted EPS
$6.70
+203.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
74,733
63,277
72,051
+18.1%
Cost of revenue
67,089
56,676
n/a
+18.4%
Gross profit
7,644
6,601
n/a
+15.8%
Gross margin
10.2%
10.4%
n/a
Selling, general and administrative
1,694
1,597
1,576
+6.1%
Operating income
4,018
2,386
4,692
+68.4%
Operating margin
5.4%
3.8%
6.5%
Interest expense
688
602
325
+14.3%
Pre-tax income
3,344
1,822
4,374
+83.5%
Income tax
-460
609
1,506
Effective tax rate
-13.8%
33.4%
34.4%
Net income
3,432
1,174
2,852
+192.3%
Net margin
4.6%
1.9%
4.0%
Diluted EPS
$6.70
$2.21
$5.26
+203.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
6,609
4,017
4,073
+64.5%
Capital expenditure
2,732
2,892
1,998
-5.5%
Free cash flow
3,877
1,125
2,075
+244.6%
Free cash flow margin
5.2%
1.8%
2.9%
Cash from investing
-3,394
-2,967
-3,441
Cash from financing
-1,091
-1,294
-999
Depreciation and amortisation
2,114
2,001
1,502
+5.6%
Share-based compensation
51.0
45.0
42.0
+13.3%
Buybacks
2,372
197
965
+1,104.1%
Dividends paid
773
719
613
+7.5%
Dividend per share
$1.52
$1.36
$1.14
+11.8%
Diluted shares, weighted
512m
530m
542m
-3.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
14,033
13,557
13,237
+3.5%
Non-controlling interest
6,795
6,646
6,438
+2.2%
Redeemable equity
1,000
1,000
0.0
0.0%
Debt
12,946
10,544
11,896
+22.8%
Other liabilities
14,273
12,666
11,544
+12.7%
Total liabilities and equity
49,047
44,413
43,115
+10.4%
Fixed assets
26,443
25,765
25,164
+2.6%
Goodwill
3,586
3,587
4,019
-0.0%
Intangible assets
631
725
719
-13.0%
Cash and equivalents
3,011
887
1,127
+239.5%
Receivables
4,695
3,617
2,927
+29.8%
Inventory
5,550
5,656
5,225
-1.9%
Other assets
5,131
4,176
3,934
+22.9%
Total assets
49,047
44,413
43,115
+10.4%
10-K for the year ended 31 December 2017, filed 28 February 2019: the filing.