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MPLX LP (MPLX)
Energy · Oil & Gas Midstream · NYSE
MPLX LP revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.03B | $3.87B | $7.00B | $9.04B | $7.57B | $10.03B | $10.54B | $10.43B | $10.90B | $11.47B |
| Gross profit | — | — | — | — | — | — | $4.29B | $4.56B | $4.82B | $5.00B |
| Net income | $233.00M | $794.00M | $1.82B | $1.03B | $-720.00M | $3.08B | $3.94B | $3.93B | $4.32B | $4.91B |
| Net margin | 7.7% | 20.5% | 26.0% | 11.4% | -9.5% | 30.7% | 37.4% | 37.6% | 39.6% | 42.8% |
Source: MPLX LP SEC filings (10-K). 14 years of history available in the interactive view.
What growth is priced into MPLX stock?
At today's market cap of $57.38B, MPLX LP is priced for free-cash-flow growth of about 2.8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $4.10B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 4.2%/yr over the last five fiscal years and revenue 8.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 14 years of MPLX LP financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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MPLX LP financial history by metric
About MPLX LP
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate. It also engages in inland marine businesses, comprising fleet of boats and barges transport light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions, as well as a marine repair facility located on the Ohio River; and distribution of fuel, as well as operates refining logistics, terminals, rail facilities, and storage caverns. In addition, it operates terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products through the pipeline, rail, marine, and truck transportation. MPLX GP LLC acts as the general partner of MPLX LP. The company was incorporated in 2012 and is headquartered in Findlay, Ohio. MPLX LP operates as a subsidiary of Marathon Petroleum Corporation.
MPLX LP — frequently asked questions
What is MPLX LP's revenue?
MPLX LP (MPLX) reported revenue of $11.47B for fiscal year 2025, up 5.2% from the prior year, according to its SEC filings.
Is MPLX LP profitable?
Yes. MPLX earned net income of $4.91B in fiscal 2025, a net margin of 42.8%.
What is MPLX's P/E ratio?
MPLX LP trades at a price-to-earnings ratio of about 12.2 based on the latest data in our nightly-refreshed cache.
How fast is MPLX LP growing?
MPLX's revenue grew at roughly 8.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does MPLX LP have?
As of fiscal year 2025, MPLX carried roughly $25.65B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is MPLX LP's gross margin?
MPLX's gross margin was 43.6% in fiscal 2025 — gross profit of $5.00B on revenue of $11.47B.
What is MPLX LP's market cap?
MPLX LP (MPLX) has a market capitalization of about $57.38B, based on the latest data in our nightly-refreshed cache.
When does MPLX LP's fiscal year end?
MPLX's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into MPLX stock?
At today's market cap of $57.38B, MPLX LP is priced for free-cash-flow growth of about 2.8% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $4.10B from the FY ending 2025-12-31). For comparison, free cash flow actually grew 4.2%/yr over the last five fiscal years and revenue 8.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from MPLX LP's official SEC filings (10-K and 10-Q), covering 14 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.