Marathon Petroleum (MPC) FY2022 results: revenue $177.5 billion, up 47.9% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $177.5 billion for fiscal 2022, the year ended 31 December 2022, up 47.9% on the year before. Net income was $14.5 billion, up 49.1%, and diluted earnings per share $28.12. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$177.5 billion
+47.9% on the year
FY2015FY2022
Operating margin
12.1%
3.6% a year earlier
FY2015FY2022
Net income
$14.5 billion
+49.1% on the year
FY2015FY2022
Diluted EPS
$28.12
+84.5% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
16,361
4,360
2,419
+275.3%
Capital expenditure
2,420
1,464
2,787
+65.3%
Free cash flow
13,941
2,896
-368
+381.4%
Free cash flow margin
7.9%
2.4%
-0.5%
Cash from investing
623
14,797
-3,257
-95.8%
Cash from financing
-13,647
-14,419
-135
Depreciation and amortisation
3,215
3,364
3,375
-4.4%
Share-based compensation
153
88.0
100
+73.9%
Buybacks
11,922
4,654
0.0
+156.2%
Dividends paid
1,279
1,484
1,510
-13.8%
Dividend per share
$2.49
$2.32
$2.32
+7.3%
Diluted shares, weighted
516m
638m
649m
-19.1%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
27,715
26,206
22,199
+5.8%
Non-controlling interest
6,404
6,410
7,053
-0.1%
Redeemable equity
968
965
968
+0.3%
Debt
26,700
25,539
31,584
+4.5%
Operating lease liabilities
841
927
1,014
-9.3%
Finance lease liabilities
451
525
576
-14.1%
Other liabilities
26,825
24,801
21,764
+8.2%
Total liabilities and equity
89,904
85,373
85,158
+5.3%
Fixed assets
n/a
n/a
39,035
Goodwill
8,244
8,256
8,256
-0.1%
Intangible assets
1,876
2,135
2,360
-12.1%
Investments
3,145
5,548
n/a
-43.3%
Cash and equivalents
8,625
5,291
415
+63.0%
Receivables
13,477
11,034
5,760
+22.1%
Inventory
8,827
8,055
7,999
+9.6%
Other assets
45,710
45,054
21,333
+1.5%
Total assets
89,904
85,373
85,158
+5.3%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.