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Financials · MPLX

MPLX LP (MPLX) financials

For the twelve months ended Sep 30, 2026, MPLX LP reported $13.21B of revenue and $4.34B of net income.

Revenue, TTM
$13.21B
Revenue growth, YoY
+3.1%
Net income, TTM
$4.34B
Net income growth, YoY
-9.7%
Net margin
32.9%
Free cash flow, TTM
$3.11B
Cash
$1.30B
Total debt
$26.61B
P/E
13.04
P/S
4.29
Market cap
$56.64B
Annual revenue$13.00B
FY2016FY2025
Annual net income$4.91B
FY2016FY2025
Annual free cash flow$4.10B
FY2016FY2025

MPLX revenue and earnings growth

MPLX revenueQ3 2026$3.60B

Quarter YoY
-0.4%
QoQ
+8.8%
FY YoY
+8.9%
5Y CAGR
+11.4%
10Y CAGR
+28.0%

MPLX revenue was $3.60B in fiscal Q3 2026 (ended Sep 30, 2026), down 0.4% from a year earlier and up 8.8% from the prior quarter. For the full fiscal 2025 it was $13.00B, up 8.9% from fiscal 2024. Compound annual growth was +11.4% over 5 years and +28.0% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 13 fiscal years on file.

MPLX net incomeQ3 2026$1.16B

Quarter YoY
-24.7%
QoQ
+8.0%
FY YoY
+14.7%
10Y CAGR
+41.2%

MPLX net income was $1.16B in fiscal Q3 2026 (ended Sep 30, 2026), down 24.7% from a year earlier and up 8.0% from the prior quarter. For the full fiscal 2025 it was $4.91B, up 14.7% from fiscal 2024. Compound annual growth was +41.2% over 10 years. It rose in each of the last 4 fiscal years. Fiscal 2025 is the highest of the 14 fiscal years on file.

MPLX free cash flowQ3 2026$682.00M

Quarter YoY
-24.6%
QoQ
-22.2%
FY YoY
-16.1%
5Y CAGR
+4.2%
10Y CAGR
+46.0%

MPLX free cash flow was $682.00M in fiscal Q3 2026 (ended Sep 30, 2026), down 24.6% from a year earlier and down 22.2% from the prior quarter. For the full fiscal 2025 it was $4.10B, down 16.1% from fiscal 2024. Compound annual growth was +4.2% over 5 years and +46.0% over 10 years. It rose in 8 of the last 10 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$13.00B$11.93B$11.28B$11.61B$10.03B$7.57B$9.04B$7.00B$3.87B$3.03B
Selling, general and admin$446.00M$427.00M$379.00M$335.00M$353.00M$378.00M$388.00M$316.00M$241.00M$227.00M
Operating income$5.94B$5.29B$4.90B$4.91B$3.99B$211.00M----
Pre-tax income$4.96B$4.37B$3.98B$3.99B$3.11B-$685.00M$1.46B$2.01B$837.00M$422.00M
Income tax-$10.00M$11.00M$8.00M$1.00M$2.00M$0$8.00M$1.00M-$12.00M
Net income$4.91B$4.28B$3.81B$3.79B$3.08B-$720.00M$1.03B$1.82B$794.00M$233.00M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$2.14B$1.52B$1.05B$238.00M$13.00M$15.00M$15.00M$85.00M$9.00M$239.00M
Receivables$735.00M$718.00M$823.00M$737.00M$654.00M$452.00M$593.00M$611.00M$292.00M$299.00M
Current assets$3.99B$3.28B$2.81B$1.91B$1.51B$1.51B$1.48B$1.44B$559.00M$868.00M
Goodwill$8.76B$7.64B$7.64B$7.64B$7.66B$7.66B$9.54B$10.02B$2.25B$2.25B
Total assets$43.01B$37.51B$36.53B$35.66B$35.51B$36.41B$40.43B$39.33B$19.50B$17.51B
Current liabilities$3.25B$3.23B$2.62B$2.40B$3.35B$2.09B$2.13B$2.27B$1.30B$763.00M
Short-term debt$1.50B$1.69B$1.14B$988.00M$499.00M$764.00M$9.00M$513.00M$1.00M$1.00M
Long-term debt$24.15B$19.25B$19.30B$18.81B$18.07B$19.38B$19.70B$17.92B$6.95B$4.42B
Total debt$25.65B$20.95B$20.43B$19.80B$18.57B$20.14B$19.71B$18.43B$6.95B$4.42B
Total liabilities$28.48B$23.50B$22.95B$22.15B$22.49B$22.43B$22.85B$20.59B$8.53B$5.40B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$5.91B$5.95B$5.40B$5.02B$4.91B$4.52B$4.08B$3.07B$1.91B$1.49B
Capital expenditures$1.81B$1.06B$937.00M$806.00M$529.00M$1.18B$2.41B$2.11B$1.41B$1.31B
Free cash flow$4.10B$4.89B$4.46B$4.21B$4.38B$3.34B$1.67B$960.00M$496.00M$178.00M
Investing cash flow-$4.86B-$2.00B-$1.25B-$956.00M-$518.00M-$1.26B-$3.06B-$2.88B-$2.31B-$1.42B
Financing cash flow-$435.00M-$3.48B-$3.33B-$3.84B-$4.39B-$3.26B-$1.09B-$117.00M$171.00M$113.00M
Share repurchases$400.00M$326.00M$0$491.00M$630.00M$33.00M$0$0--

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY8.9%5.8%-2.9%15.8%32.5%-16.3%29.1%81.1%27.7%175.1%
Net income growth, YoY14.7%12.4%0.4%23.2%---43.2%129.0%240.8%49.4%
Operating margin45.7%44.3%43.4%42.3%39.8%2.8%----
Net margin37.8%35.9%33.8%32.6%30.7%-9.5%11.4%26.0%20.5%7.7%
Free cash flow margin31.6%41.0%39.5%36.3%43.7%44.1%18.5%13.7%12.8%5.9%
Return on assets11.4%11.4%10.4%10.6%8.7%-2.0%2.6%4.6%4.1%1.3%
Current ratio1.231.011.070.790.450.730.700.630.431.14

Source: XBRL data MPLX LP files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MPLX peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MPLX$13.21B+3.1%$4.34B32.9%$56.64B
WMB$15.43B+10.1%$3.07B19.9%$162.73B
ENBC$83.49B+29.5%C$6.13B7.3%$102.40B
NGG£17.69B-3.8%£3.24B18.3%$87.30B
EPD$64.40B+21.5%$6.59B10.2%$79.86B
KMI$18.34B+11.7%$3.60B19.6%$66.73B
TRPC$15.24B+10.7%C$3.52B23.1%$61.92B
TRGP$18.19B+4.7%$2.45B13.5%$56.74B
SRE$13.55B+1.6%$1.96B14.4%$51.12B

MPLX FAQ

7 questions
  • What is MPLX revenue?
    MPLX LP (MPLX) reported $13.21B of revenue for the twelve months ended Sep 30, 2026. That is up 3.1% from the year before. Revenue for fiscal 2025 was $13.00B.
  • Is MPLX profitable?
    Yes. MPLX LP earned $4.34B in net income for the twelve months ended Sep 30, 2026, a net margin of 32.9%.
  • How much cash and debt does MPLX have?
    MPLX LP reported $1.30B in cash and cash equivalents and $26.61B of debt on its most recent balance sheet in SEC filings.
  • How fast is MPLX revenue growing?
    MPLX LP's revenue changed +8.9% in fiscal 2025, to $13.00B. Its compound annual growth rate was +11.4% over 5 years and +28.0% over 10 years.
  • What is MPLX free cash flow?
    MPLX LP generated $3.11B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $6.02B less capital expenditures.
  • When did MPLX last report financial results?
    The latest statements here come from MPLX LP's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this MPLX financial data come from?
    Quantisnow builds these statements from the structured XBRL data MPLX LP files with the SEC. It is provided for information only and is not investment advice.