Marathon Petroleum (MPC) FY2021 results: revenue $120.0 billion, up 71.9% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $120.0 billion for fiscal 2021, the year ended 31 December 2021, up 71.9% on the year before. Net income was $9.7 billion, and diluted earnings per share $15.24. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$120.0 billion
+71.9% on the year
FY2014FY2021
Operating margin
3.6%
-17.6% a year earlier
FY2014FY2021
Net income
$9.7 billion
FY2014FY2021
Diluted EPS
$15.24
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,360
2,419
9,441
+80.2%
Capital expenditure
1,464
2,787
4,810
-47.5%
Free cash flow
2,896
-368
4,631
Free cash flow margin
2.4%
-0.5%
4.2%
Cash from investing
14,797
-3,257
-6,261
Cash from financing
-14,419
-135
-3,376
Depreciation and amortisation
3,364
3,375
3,225
-0.3%
Share-based compensation
88.0
100
153
-12.0%
Buybacks
4,654
0.0
1,950
Dividends paid
1,484
1,510
1,398
-1.7%
Dividend per share
$2.32
$2.32
$2.12
0.0%
Diluted shares, weighted
638m
649m
664m
-1.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
26,206
22,199
33,694
+18.1%
Non-controlling interest
6,410
7,053
8,445
-9.1%
Redeemable equity
965
968
968
-0.3%
Debt
25,539
31,584
28,724
-19.1%
Operating lease liabilities
927
1,014
1,300
-8.6%
Finance lease liabilities
525
576
537
-8.9%
Other liabilities
24,801
21,764
24,888
+14.0%
Total liabilities and equity
85,373
85,158
98,556
+0.3%
Fixed assets
n/a
39,035
40,870
Goodwill
8,256
8,256
15,650
0.0%
Intangible assets
2,135
2,360
2,806
-9.5%
Investments
5,548
n/a
n/a
Cash and equivalents
5,291
415
1,393
+1,174.9%
Receivables
11,034
5,760
7,233
+91.6%
Inventory
8,055
7,999
9,804
+0.7%
Other assets
45,054
21,333
20,800
+111.2%
Total assets
85,373
85,158
98,556
+0.3%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.