Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 4/5 core metricsLatest reported annual revenue changed -4.4% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -4.4% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- No current rule-based risk flags
11 filing-based checks were evaluable.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Operating margin improved
Operating margin changed +1.4 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $4.8B.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-10-08
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Refining And Marketing$124B93.6%-5.6% yoy
- Midstream$5.63B4.2%+8.3% yoy
- Renewable Diesel$2.81B2.1%+35.4% yoy
Members sum to the consolidated $133B for this period.
- Refining And Marketing$49.3B94.8%+54.9% yoy
- Midstream$1.46B2.8%+8.6% yoy
- Renewable Diesel$1.24B2.4%+96.5% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,075 US-listed filers · 117 in Energy| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $132.7B | 99thof 3,256 top third | 99thof 111 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -4.4% | 19thof 3,094 bottom third | 35thof 105 middle third |
Operating margin operating income ÷ revenue | 6.3% | 59thof 2,783 middle third | 52ndof 97 middle third |
Net margin net income ÷ revenue | 3.0% | 52ndof 3,221 middle third | 47thof 107 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 3.6% | 46thof 2,647 middle third | 52ndof 59 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 23.4% | 89thof 3,529 top third | 90thof 93 top third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | 5.6× | 73rdof 801 top third | 77thof 28 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 0.1% | 97thof 2,860 top third | 91stof 95 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 28 days | 74thof 2,378 top third | 81stof 90 top third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 2.0× | 68thof 2,250 top third | 29thof 72 bottom third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -5.2% | 52ndof 3,862 middle third | 26thof 105 bottom third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -4.2% | 67thof 3,310 top third | 80thof 79 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 11 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Operating income OperatingIncomeLoss | quarter 2020-06-30 | $981M 10-Q 2020-08-03 | $575M 10-Q 2021-08-04 | -41.4% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-06-30 | $15B 10-Q 2020-08-03 | $12.2B 10-Q 2021-08-04 | -18.8% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-03-31 | $25.2B 10-Q 2020-05-07 | $22.2B 10-Q 2021-05-06 | -11.9% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-06-30 | $935M 10-Q 2020-08-03 | $833M 10-Q 2021-08-04 | -10.9% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2020-03-31 | $1.06B 10-Q 2020-05-07 | $951M 10-Q 2021-05-06 | -10.4% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-03-31 | $962M 10-Q 2020-05-07 | $863M 10-Q 2021-05-06 | -10.3% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2023-12-31 | $11.6B 10-K 2024-02-28 | $12.2B 10-K 2025-02-27 | +4.9% | first · latest · 5 filings carry it |
| Intangibles IntangibleAssetsNetExcludingGoodwill | balance at 2024-12-31 | $1.7B 10-K 2025-02-27 | $1.77B 10-K 2026-02-26 | +4.2% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-03-31 | -$11.8B 10-Q 2020-05-07 | -$12.2B 10-Q 2021-05-06 | -2.9% | first · latest · 3 filings carry it |
| Interest expense InterestExpenseDebt | quarter 2020-03-31 | $357M 10-Q 2020-05-07 | $355M 10-Q 2021-05-06 | -0.6% | first · latest |
| Interest expense InterestExpenseDebt | quarter 2020-06-30 | $373M 10-Q 2020-08-03 | $371M 10-Q 2021-08-04 | -0.5% | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for MPC yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.