| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 85 | 13.7x | 17.8x | Top tier | |
Growth | 62 | 15.0% | 7.1% | Around median | |
Quality | 79 | 23.3% | 4.5% | Top tier | |
Safety | 70 | 1.5x | 2.6x | Top tier | |
Capital Return | 51 | 0.99% | 2.12% | Around median | |
Momentum | 99 | 65.4% | 2.9% | Top tier | |
Sentiment | 43 | 11 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Marathon Petroleum Corporation operates integrated petroleum refining and refined-product marketing businesses, benefiting from a supply network that relies primarily on crude oil from the United States and Canada and from logistics and commercial capabilities that enable it to direct gasoline, diesel, and jet fuel to the highest-value markets. The Refining & Marketing segment is the main cyclical earnings driver, while MPLX provides exposure to natural gas and natural gas liquids processing and transportation and more stable cash flows across the cycle, and the renewable diesel facilities add a smaller business affected by fuel margins and regulatory incentives.
In fiscal Q2 2026, revenue was $52.0 billion, gross profit was $8.9 billion, net income was $5.1 billion, and earnings per share were $17.73. These figures equate to a gross margin of approximately 17.1% and a net income margin of approximately 9.8%. Earnings per share also exceeded analysts' estimates of $14.52 by approximately 22.1% and increased 347.7% compared with the corresponding period, supported by strength in refining and marketing and refining margins.
EBITDA reached $8.5 billion in fiscal Q2 2026, and the company returned $2.8 billion to shareholders during the quarter. For comparison, fiscal 2025 revenue was $132.7 billion and net income was $4.0 billion, while total revenue for the twelve-month period ending in fiscal 2026 was approximately $153.6 billion and net income was $8.6 billion, illustrating the extent of the improvement associated with the refining-margin environment.
The analyst consensus rates MPC shares a "Buy," with an average target of $323.78 and a wide range of $265 to $359; both the average and the upper end are below the 52-week range high of $367.60, reflecting that some of the strength in earnings and refining margins may already be incorporated into valuations. An August 11, 2026, report cited a price-to-earnings multiple of 11.6 times, but the wide target range and the possibility of refining-margin normalization make the sustainability of fiscal Q2 2026 earnings the decisive factor in assessing the valuation.
Figures in the text are as of 2026-08-27; the live price is shown at the top of the page.
Earnings per share were $17.73 versus expectations of $14.52, approximately 22.1% above estimates. Net income reached $5.1 billion on revenue of $52.0 billion, while EBITDA was $8.5 billion. The outperformance came primarily from strong refining and marketing margins and global supply disruptions that supported refined-product price spreads.
MPLX provides cash flows associated with natural gas and natural gas liquids infrastructure, partially offsetting the cyclicality of the refining business. MPLX is investing more than $2.4 billion during fiscal 2026, with approximately 90% of growth capital allocated to these activities. Management expects MPLX distributions to grow by 12.5% in each of the next two years, supported by mid-single-digit growth in adjusted EBITDA.
In March 2026, the company brought online more than 30 thousand barrels per day of additional jet fuel production capacity at the Garyville refinery. It expects the flexibility investment at Robinson to begin operating during fiscal Q3 2026, adding approximately 10 thousand barrels per day. Robinson's flexibility allows it to return to producing other distillates if jet fuel demand changes, while the two projects target strong demand in the Gulf Coast, Mid-Con, and West Coast markets.
Automated analysis for informational purposes only — not investment advice.
A significant portion of the earnings strength is linked to the outage of approximately 6 million barrels per day of global refined-product capacity because of the conflict in the Middle East, so supply normalization could lead to narrower refining spreads. The company also recorded approximately $500 million of unrealized derivative losses in fiscal Q1 2026, with a $340 million cash impact from margin calls. In addition, adjusted earnings for the Midstream segment declined by $122 million year over year during the same quarter.
The company returned more than $1 billion to shareholders in fiscal Q1 2026, including $750 million of share repurchases. In fiscal Q2 2026, funds returned to shareholders totaled $2.8 billion. On May 5, 2026, it also announced an additional $5 billion share-repurchase authorization, with management affirming that repurchases would remain the primary tool for returning capital.
Reports published on August 14, 2026, stated that the two companies had held discussions regarding a potential acquisition. The context did not disclose the transaction's terms, structure, or timeline, so it cannot be treated as an announced agreement. Combining two major refining companies could create opportunities for operational integration, but its actual impact on MPC shareholders cannot be assessed until specific terms emerge.
