Marathon Petroleum (MPC) FY2024 results: revenue $138.9 billion, down 6.4% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $138.9 billion for fiscal 2024, the year ended 31 December 2024, down 6.4% on the year before. Net income was $3.4 billion, down 64.4%, and diluted earnings per share $10.08. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.
Revenue
$138.9 billion
-6.4% on the year
FY2017FY2024
Operating margin
4.9%
9.8% a year earlier
FY2017FY2024
Net income
$3.4 billion
-64.4% on the year
FY2017FY2024
Diluted EPS
$10.08
-57.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
8,665
14,117
16,361
-38.6%
Capital expenditure
2,533
1,890
2,420
+34.0%
Free cash flow
6,132
12,227
13,941
-49.8%
Free cash flow margin
4.4%
8.2%
7.9%
Cash from investing
1,534
-3,095
623
Cash from financing
-12,434
-14,207
-13,647
Depreciation and amortisation
3,337
3,307
3,215
+0.9%
Share-based compensation
137
211
153
-35.1%
Buybacks
9,189
11,572
11,922
-20.6%
Dividends paid
1,154
1,261
1,279
-8.5%
Dividend per share
$3.38
$3.08
$2.49
+10.1%
Diluted shares, weighted
341m
409m
516m
-16.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
17,745
24,404
27,715
-27.3%
Non-controlling interest
6,558
6,100
6,404
+7.5%
Redeemable equity
203
895
968
-77.3%
Debt
27,481
27,283
26,700
+0.7%
Operating lease liabilities
860
764
841
+12.6%
Finance lease liabilities
630
401
451
+57.1%
Other liabilities
25,381
26,140
26,825
-2.9%
Total liabilities and equity
78,858
85,987
89,904
-8.3%
Goodwill
8,244
8,244
8,244
0.0%
Intangible assets
1,774
1,765
1,876
+0.5%
Investments
0.0
4,781
3,145
Cash and equivalents
3,210
5,443
8,625
-41.0%
Receivables
11,145
12,187
13,477
-8.6%
Inventory
9,568
9,317
8,827
+2.7%
Other assets
44,917
44,250
45,710
+1.5%
Total assets
78,858
85,987
89,904
-8.3%
10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.