MPLX (MPLX)
Market Price (4/28/2026): $54.75 | Market Cap: $55.6 BilSector: Energy | Industry: Oil & Gas Storage & Transportation
MPLX (MPLX)
Market Price (4/28/2026): $54.75Market Cap: $55.6 BilSector: EnergyIndustry: Oil & Gas Storage & Transportation
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 7.3% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 42% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36%, CFO LTM is 5.9 Bil, FCF LTM is 4.1 Bil Stock buyback supportStock Buyback 3Y Total is 1.3 Bil Low stock price volatilityVol 12M is 16% Megatrend and thematic driversMegatrends include Hydrogen Economy, and Energy Transition & Decarbonization. Themes include Hydrogen Infrastructure, Carbon Capture & Storage, Show more. | Key risksMPLX key risks include [1] its significant dependence on its primary customer, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, Dividend Yield is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 7.3% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 42% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 51%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 36%, CFO LTM is 5.9 Bil, FCF LTM is 4.1 Bil |
| Stock buyback supportStock Buyback 3Y Total is 1.3 Bil |
| Low stock price volatilityVol 12M is 16% |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, and Energy Transition & Decarbonization. Themes include Hydrogen Infrastructure, Carbon Capture & Storage, Show more. |
| Key risksMPLX key risks include [1] its significant dependence on its primary customer, Show more. |
Qualitative Assessment
AI Analysis | Feedback
MPLX (MPLX) stock has gained about 5% since 12/31/2025 because of the following key factors:
1. Strong Q4 2025 Financial Results and Optimistic 2026 Guidance.
MPLX exceeded Q4 2025 earnings expectations, reporting an EPS of $1.17 against a consensus of $1.10 and a quarterly revenue of $5.99 billion, surpassing the $3.23 billion consensus by 6.2% year-over-year. The company also announced a 2026 organic growth capital plan of $2.4 billion, largely allocated to natural gas and NGL investments, with a projection for mid-single-digit adjusted EBITDA growth.
2. Robust Unitholder Returns and Solid Financial Health.
MPLX returned $4.4 billion to unitholders in 2025 and declared a quarterly cash distribution of $1.0765 per common unit for Q4 2025, amounting to an annualized $4.31 per unit with a distribution coverage of 1.3x. The partnership maintained a healthy financial position, demonstrated by a leverage ratio of 3.7x at the end of 2025, which is below its target range.
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1. Strong Q4 2025 Financial Results and Optimistic 2026 Guidance.
MPLX exceeded Q4 2025 earnings expectations, reporting an EPS of $1.17 against a consensus of $1.10 and a quarterly revenue of $5.99 billion, surpassing the $3.23 billion consensus by 6.2% year-over-year. The company also announced a 2026 organic growth capital plan of $2.4 billion, largely allocated to natural gas and NGL investments, with a projection for mid-single-digit adjusted EBITDA growth.
2. Robust Unitholder Returns and Solid Financial Health.
MPLX returned $4.4 billion to unitholders in 2025 and declared a quarterly cash distribution of $1.0765 per common unit for Q4 2025, amounting to an annualized $4.31 per unit with a distribution coverage of 1.3x. The partnership maintained a healthy financial position, demonstrated by a leverage ratio of 3.7x at the end of 2025, which is below its target range.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
12/31/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| MPLX | 5.1% | |
| Market (SPY) | 4.2% | -8.9% |
| Sector (XLE) | 27.0% | 8.2% |
Fundamental Drivers
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Market Drivers
9/30/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| MPLX | 14.7% | |
| Market (SPY) | 7.0% | 9.9% |
| Sector (XLE) | 28.2% | 38.9% |
Fundamental Drivers
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Market Drivers
3/31/2025 to 4/27/2026| Return | Correlation | |
|---|---|---|
| MPLX | 11.2% | |
| Market (SPY) | 28.1% | 47.3% |
| Sector (XLE) | 24.6% | 58.3% |
Fundamental Drivers
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Market Drivers
3/31/2023 to 4/27/2026| Return | Correlation | |
|---|---|---|
| MPLX | 104.9% | |
| Market (SPY) | 79.8% | 40.6% |
| Sector (XLE) | 50.2% | 52.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MPLX Return | 54% | 21% | 22% | 42% | 21% | 5% | 310% |
| Peers Return | 54% | 34% | 16% | 68% | -1% | 19% | 374% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 5% | 91% |
Monthly Win Rates [3] | |||||||
| MPLX Win Rate | 92% | 67% | 83% | 75% | 58% | 100% | |
| Peers Win Rate | 70% | 63% | 55% | 77% | 50% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MPLX Max Drawdown | 0% | -1% | -1% | -0% | -1% | -2% | |
| Peers Max Drawdown | -1% | -2% | -9% | -4% | -15% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WMB, ET, KMI, OKE, TRGP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/27/2026 (YTD)
How Low Can It Go
| Event | MPLX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -20.1% | -25.4% |
| % Gain to Breakeven | 25.2% | 34.1% |
| Time to Breakeven | 238 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -69.1% | -33.9% |
| % Gain to Breakeven | 223.5% | 51.3% |
| Time to Breakeven | 406 days | 148 days |
| 2018 Correction | ||
| % Loss | -41.5% | -19.8% |
| % Gain to Breakeven | 71.1% | 24.7% |
| Time to Breakeven | 1,535 days | 120 days |
Compare to WMB, ET, KMI, OKE, TRGP
In The Past
MPLX's stock fell -20.1% during the 2022 Inflation Shock from a high on 4/20/2022. A -20.1% loss requires a 25.2% gain to breakeven.
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About MPLX (MPLX)
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, exchange, 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 sale of residue gas and condensate. It also engages in the inland marine businesses comprising transportation of light products, heavy oils, crude oil, renewable fuels, chemicals, and feedstocks in the Mid-Continent and Gulf Coast regions, as well as owns and operates boats and barges, including third-party chartered equipment, and 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, the company operates terminal facilities for the receipt, storage, blending, additization, handling, and redelivery of refined petroleum products located through the pipeline, rail, marine, and over-the-road modes of 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.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe MPLX:
- Like the FedEx or UPS of energy products, transporting oil, natural gas, and refined fuels through pipelines, barges, and storage facilities.
- An energy version of Verizon or AT&T, providing the essential network of pipelines and storage infrastructure for crude oil, natural gas, and other fuels.
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- Natural Gas Midstream Services: Provides gathering, processing, and transportation for natural gas.
- Natural Gas Liquids (NGL) Services: Offers gathering, transportation, fractionation, storage, and marketing of natural gas liquids.
- Crude Oil & Refined Products Logistics: Manages the gathering, storage, transportation, and distribution of crude oil and refined products.
- Marine Transportation: Operates an inland marine business for transporting various liquid products, chemicals, and feedstocks.
- Terminal and Storage Solutions: Provides terminal facilities and storage caverns for petroleum products, including receipt, blending, and redelivery.
- Hydrocarbon Product Sales: Sells residue gas and condensate.
- Marine Repair Services: Operates a facility for the repair and maintenance of marine vessels.
AI Analysis | Feedback
MPLX (symbol: MPLX) primarily sells its services to other companies. Its major customer is:
- Marathon Petroleum Corporation (symbol: MPC)
As a subsidiary of Marathon Petroleum Corporation, MPLX provides essential midstream energy infrastructure and logistics services, including crude oil and refined products transportation and storage, natural gas gathering and processing, and marine transportation, which are critical to Marathon Petroleum's refining and marketing operations. While MPLX also serves other energy producers, refiners, and marketers, Marathon Petroleum Corporation represents a significant portion of its business due to the parent-subsidiary relationship and strategic integration.
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- Marathon Petroleum Corporation (MPC)
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Maryann T. Mannen, Chairman, President and Chief Executive Officer
Maryann Mannen was appointed President and Chief Executive Officer of MPLX in August 2024 and is slated to assume the role of Chairman of the Board effective January 1, 2026. She also holds the positions of Chairman, President, and Chief Executive Officer of Marathon Petroleum Corporation. Prior to joining Marathon Petroleum Corporation in 2021, Ms. Mannen served as Executive Vice President and Chief Financial Officer of TechnipFMC (and its predecessor, FMC Technologies, Inc.), a global engineering services and energy technology company, since 2017.
C. Kristopher Hagedorn, Executive Vice President and Chief Financial Officer
C. Kristopher Hagedorn was appointed Executive Vice President and Chief Financial Officer of MPLX, effective January 1, 2024. He joined MPLX GP LLC in 2017 as vice president and controller, later becoming senior vice president and controller of Marathon Petroleum Corporation in 2021. Before joining MPLX GP LLC, Mr. Hagedorn was vice president and controller at CONSOL Energy Inc. He played a key role in the leadership team that prepared for the formation and initial public offering of a midstream master limited partnership (CONE Midstream Partners LP) formed by CONSOL Energy, where he also served as the chief accounting officer from 2014 to 2015. His career began at PricewaterhouseCoopers in 1998, where he spent 14 years in various audit roles.
Gregory S. Floerke, Executive Vice President and Chief Operating Officer
Gregory S. Floerke joined MPLX in 2015, concurrent with the combination of MPLX and MarkWest. He initially joined MarkWest in 2013 as senior vice president, Northeast region, and subsequently held executive vice president roles including chief commercial officer and executive vice president of gathering and processing before assuming his current position in 2021. His extensive experience includes senior management roles at companies such as Williams, MasTec, Alberici, One Communications, and Chesapeake Midstream. Mr. Floerke currently serves on the board of directors of TransTech Group, LLC.
Shawn M. Lyon, Senior Vice President Logistics & Storage
Shawn M. Lyon commenced his career with Marathon Petroleum Corporation (MPC) in 1989 as an engineer. Throughout his tenure, he has held various positions within the midstream and engineering organizations, contributing to the operations and strategic direction of the company.
John D. Partee, Senior Vice President
John D. Partee serves as a Senior Vice President of MPLX GP LLC. He is also the chief global optimization officer of Marathon Petroleum Corporation.
AI Analysis | Feedback
The key risks to MPLX's business are primarily its significant dependence on Marathon Petroleum Corporation (MPC), exposure to interest rate fluctuations, and market risks associated with the energy supply-demand equilibrium and the broader energy transition. Here are the key risks in order of significance: * **Dependence on Marathon Petroleum Corporation (MPC)**: MPLX operates as a subsidiary of Marathon Petroleum Corporation, which also serves as its largest customer. While this relationship provides stability through long-term, fee-based contracts with minimum volume commitments (MVCs), it creates a substantial counterparty concentration risk. A significant portion of MPLX's revenue is backed by MPC. A sustained downturn in MPC's refining margins or a reduction in its refining operations could eventually constrain MPLX's growth prospects and logistics revenue, despite short-term protections from MVCs. This reliance is considered MPLX's "greatest strength" but also its "greatest vulnerability". * **Interest Rate Risk**: As a Master Limited Partnership (MLP), MPLX's valuation is often influenced by its yield. Consequently, periods of higher interest rates or increased yields from risk-free investments (such as U.S. treasuries) can make MLPs less attractive to investors. MPLX has recently refinanced a substantial amount of debt at higher interest rates, which increases interest expenses and can potentially reduce the cash available for distributions to unitholders. * **Market Risks and Energy Transition**: While MPLX benefits from a largely fee-based revenue model, it remains vulnerable to broader shifts in the energy supply-demand dynamics. Reduced upstream production activity in the energy sector could lead to lower throughput volumes across MPLX's systems, particularly impacting its Natural Gas and NGL Services segment, which has less contractual support compared to its crude oil and products logistics business. Furthermore, the long-term global transition towards a lower-carbon economy and potential decreases in demand for liquid transportation fuels pose a fundamental risk to MPLX's business model. Regulatory pressures related to greenhouse gas emissions and environmental policies could also increase operating costs and delay new projects.AI Analysis | Feedback
The accelerating global energy transition, driven by increased adoption of renewable energy sources, electrification of transportation, and decarbonization policies, poses an emerging threat to MPLX. As demand for crude oil, refined products, and natural gas potentially declines over the long term, the extensive network of pipelines, processing plants, and storage facilities that constitute MPLX's core midstream assets could face reduced utilization, stranded asset risk, and decreased profitability.
AI Analysis | Feedback
MPLX LP operates in several addressable markets within the United States, primarily focused on midstream energy infrastructure and logistics. These markets include the transportation, storage, processing, and distribution of natural gas, natural gas liquids (NGLs), crude oil, and refined products.
Addressable Markets for MPLX's Main Products or Services:
- United States Midstream Oil and Gas Market: This broad market, encompassing infrastructure and services for crude oil, natural gas, and refined petroleum products, was valued at approximately USD 17.10 billion in 2025 and is estimated to reach USD 21.08 billion by 2031, with a compound annual growth rate (CAGR) of 3.55% from 2026 to 2031. Another estimate places the market at USD 20.78 billion in 2025, growing to USD 25.96 billion by 2031, at a 3.78% CAGR. The overall U.S. oil and gas infrastructure market, which includes pipelines, was valued at USD 78.9 billion in 2024 and is projected to grow to USD 147.8 billion by 2034, with a CAGR of 6.4% from 2025 to 2034.
- Natural Gas Pipeline Transportation (United States): The market size for Gas Pipeline Transportation in the U.S. is projected to be USD 44.2 billion in 2026.
- Natural Gas Liquids (NGL) Market (North America): The North America Natural Gas Liquids Market is estimated to grow from USD 7.08 billion in 2024 to USD 11.53 billion in 2033, exhibiting a CAGR of 5.57%. The United States is the largest producer of NGLs globally.
- Crude Oil Transportation (United States): The U.S. crude oil transportation market is expected to exceed USD 25 billion by 2032.
- Retail Oil and Gas Logistics (United States): This market, which involves the logistics for refined products, is projected to expand from USD 24.22 billion in 2025 and USD 25.31 billion in 2026 to USD 31.09 billion by 2031, registering a CAGR of 4.20% between 2026 and 2031.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for MPLX LP over the next 2-3 years:- Expansion of Natural Gas and NGL Services: A significant portion of MPLX's capital investment is directed towards expanding its natural gas and natural gas liquids (NGL) infrastructure, particularly in the Permian and Marcellus basins. For instance, approximately 90% of MPLX's $2.4 billion growth capital spending for 2026 is allocated to natural gas and NGL services. Key projects anticipated to drive growth include the Secretariat II processing plant, Harmon Creek III, Titan Complex Phase 2, BANGL pipeline expansion, and Bay Runner Pipeline, many of which are slated to come online in the second half of 2026. The Preakness II processing plant commenced operations in July 2024, and the Secretariat processing plant is expected to be in service in the latter half of 2025, significantly increasing the company's Delaware Basin processing capacity to 1.4 billion cubic feet per day (Bcf/d). Increased customer demand and drilling activities in these basins are directly leading to higher gathering and processing volumes.
- Development of Gulf Coast NGL Strategy and Export Facilities: MPLX is actively advancing its strategy to enhance its NGL capabilities along the Gulf Coast, which includes the construction of fractionation and export facilities. This initiative is supported by the expectation of strong long-term demand for U.S. liquefied petroleum gas (LPG) exports, driven by new global trade opportunities and upcoming terminal capacity. This "Gulf Coast build-out" represents a strategic focus for the company's Permian-to-Gulf Coast gas and NGL infrastructure.
- Growth in Crude Oil and Products Logistics: The company is focused on expanding its crude gathering infrastructure in the Permian and Bakken basins. Additionally, MPLX is investing in projects aimed at expanding or de-bottlenecking existing assets, implementing butane blending initiatives, and developing new market outlets for its crude oil and refined products. This segment has already shown positive momentum, with higher rates and throughputs contributing to increased adjusted EBITDA, including a 1% increase in pipeline throughputs and a 9% rise in average pipeline tariff rates in Q4 2024 compared to the same period in 2023.
- Strategic Acquisitions and Joint Ventures: Recent acquisitions and participation in joint ventures are expected to bolster MPLX's revenue growth. For example, the acquisition of Northwind Midstream has been cited as a contributor to growth. In the first quarter of 2024, MPLX acquired a partner's interest in Utica Gathering and Processing (G&P) joint ventures and a dry gas gathering system. In Q4 2023, the company also acquired a 40% interest in Torñado I & II. These strategic moves contribute to increased volumes and overall expansion of the company's asset base.
- Increasing Demand for U.S. Natural Gas: An overarching driver for MPLX's midstream services is the robust and growing demand for U.S. natural gas. This demand is significantly propelled by the expansion of liquefied natural gas (LNG) export capabilities and the increasing power requirements from data centers. This strong market demand forms a fundamental basis for MPLX's capital expenditure plans and its anticipated volume growth.
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Share Repurchases
- MPLX completed $400 million in unit repurchases in 2025.
- Total capital returned to unitholders, which includes distributions and repurchases, was $4.4 billion in 2025 and nearly $4 billion in 2024.
- An equity buyback plan authorized on August 2, 2022, for up to $1.0 billion of common units, had repurchased $879.98 million worth of shares as of December 31, 2025.
Share Issuance
- MPLX priced a $1.5 billion senior notes offering in February 2026, consisting of $1.0 billion of 5.300% notes due 2036 and $500 million of 6.100% notes due 2056, to repay $1.5 billion of existing senior notes maturing in March 2026.
Outbound Investments
- MPLX acquired Northwind Midstream Partners for $2.375 billion in cash, with the transaction closing in September 2025. This acquisition enhances MPLX's Permian natural gas and NGL value chains.
- In 2025, MPLX also acquired the remaining 55% interest in the BANGL pipeline system for $703 million.
- In December 2023, MPLX acquired the remaining 40% interest in a gathering and processing joint venture in the Permian Basin for approximately $270 million.
Capital Expenditures
- Full-year 2025 growth investments totaled $5.5 billion.
- The capital spending outlook for 2026 is $2.7 billion, comprising $2.4 billion for growth and $300 million for maintenance. Approximately 90% of the 2026 growth capital is allocated to Natural Gas and NGL Services, focusing on expanding the Permian to Gulf Coast integrated value chain and increasing processing capacity in the Permian and Marcellus basins.
- Capital expenditures were $1.1 billion in 2024 and $950 million in 2023.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| MPLX Earnings Notes | 08/10/2025 | |
| MPLX Dip Buy Analysis | 06/29/2025 | |
| null | 02/28/2025 | |
| MPLX LP vs. Herc: MPLX stock's significantly higher valuation vs. HRI appears counterintuitive | 10/01/2024 | |
| MPLX LP vs. Allison Transmission: MPLX stock's significantly higher valuation vs. ALSN appears counterintuitive | 09/16/2024 | |
| Fundamental Metrics: ... | 06/19/2024 |
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|---|---|
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Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | KGS | Kodiak Gas Services | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03312026 | KOS | Kosmos Energy | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 12262025 | TPL | Texas Pacific Land | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 65.2% | 65.2% | -2.1% |
| 12122025 | NOV | NOV | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 15.3% | 15.3% | -6.5% |
| 12122025 | RIG | Transocean | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 60.5% | 60.5% | -7.0% |
| 09302022 | MPLX | MPLX | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 20.1% | 29.7% | 0.0% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 79.68 |
| Mkt Cap | 58.8 |
| Rev LTM | 17,276 |
| Op Inc LTM | 4,888 |
| FCF LTM | 2,814 |
| FCF 3Y Avg | 3,012 |
| CFO LTM | 5,904 |
| CFO 3Y Avg | 5,677 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.1% |
| Rev Chg 3Y Avg | 0.8% |
| Rev Chg Q | 15.2% |
| QoQ Delta Rev Chg LTM | 3.7% |
| Op Inc Chg LTM | 16.4% |
| Op Inc Chg 3Y Avg | 11.4% |
| Op Mgn LTM | 24.1% |
| Op Mgn 3Y Avg | 24.8% |
| QoQ Delta Op Mgn LTM | 1.0% |
| CFO/Rev LTM | 29.3% |
| CFO/Rev 3Y Avg | 29.8% |
| FCF/Rev LTM | 7.4% |
| FCF/Rev 3Y Avg | 16.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 58.8 |
| P/S | 3.5 |
| P/Op Inc | 12.7 |
| P/EBIT | 11.5 |
| P/E | 18.5 |
| P/CFO | 10.4 |
| Total Yield | 7.9% |
| Dividend Yield | 3.3% |
| FCF Yield 3Y Avg | 5.9% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.1% |
| 3M Rtn | 9.3% |
| 6M Rtn | 23.5% |
| 12M Rtn | 16.7% |
| 3Y Rtn | 105.0% |
| 1M Excs Rtn | -15.7% |
| 3M Excs Rtn | 6.1% |
| 6M Excs Rtn | 15.4% |
| 12M Excs Rtn | -14.1% |
| 3Y Excs Rtn | 32.9% |
Price Behavior
Price Behavior
| Market Price | $55.01 | |
| Market Cap ($ Bil) | 55.9 | |
| First Trading Date | 10/26/2012 | |
| Distance from 52W High | -2.5% | |
| 50 Days | 200 Days | |
| DMA Price | $53.74 | $49.77 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | 2.4% | 10.5% |
| 3M | 1YR | |
| Volatility | 17.3% | 16.2% |
| Downside Capture | -73.69 | 1.56 |
| Upside Capture | 3.19 | 19.73 |
| Correlation (SPY) | -14.2% | 13.6% |
MPLX Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | � | -0.09 | -0.02 | 0.09 | 0.42 | 0.40 |
| Up Beta | � | -0.07 | -0.21 | -0.05 | 0.37 | 0.38 |
| Down Beta | � | -0.11 | 0.31 | 0.29 | 0.73 | 0.61 |
| Up Capture | 0% | -11% | -1% | 19% | 19% | 15% |
| Bmk +ve Days | 8 | 17 | 28 | 66 | 140 | 425 |
| Stock +ve Days | 0 | 3 | 16 | 53 | 116 | 387 |
| Down Capture | -0% | -8% | -19% | -14% | 30% | 35% |
| Bmk -ve Days | 14 | 25 | 35 | 60 | 112 | 325 |
| Stock -ve Days | 0 | 4 | 12 | 38 | 101 | 317 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MPLX | |
|---|---|---|---|---|
| MPLX | 13.4% | 16.1% | 0.80 | - |
| Sector ETF (XLE) | 41.2% | 19.6% | 1.64 | 38.1% |
| Equity (SPY) | 31.2% | 12.5% | 1.91 | 16.0% |
| Gold (GLD) | 39.7% | 27.2% | 1.21 | -8.7% |
| Commodities (DBC) | 45.1% | 18.1% | 1.93 | 18.0% |
| Real Estate (VNQ) | 13.1% | 13.4% | 0.67 | 22.8% |
| Bitcoin (BTCUSD) | -17.7% | 42.1% | -0.35 | -5.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MPLX | |
|---|---|---|---|---|
| MPLX | 26.9% | 19.7% | 1.19 | - |
| Sector ETF (XLE) | 23.6% | 26.1% | 0.81 | 61.1% |
| Equity (SPY) | 12.9% | 17.1% | 0.59 | 44.6% |
| Gold (GLD) | 20.9% | 17.8% | 0.96 | 13.2% |
| Commodities (DBC) | 14.5% | 19.1% | 0.62 | 38.3% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 41.2% |
| Bitcoin (BTCUSD) | 6.5% | 56.3% | 0.33 | 18.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MPLX | |
|---|---|---|---|---|
| MPLX | 15.7% | 31.0% | 0.55 | - |
| Sector ETF (XLE) | 10.1% | 29.5% | 0.38 | 60.3% |
| Equity (SPY) | 14.8% | 17.9% | 0.71 | 39.5% |
| Gold (GLD) | 13.8% | 15.9% | 0.72 | 0.6% |
| Commodities (DBC) | 10.0% | 17.8% | 0.47 | 38.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 33.5% |
| Bitcoin (BTCUSD) | 68.2% | 66.9% | 1.07 | 14.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | 0.7% | 0.8% | 0.8% |
| 8/5/2025 | -3.5% | -3.0% | -1.6% |
| 5/6/2025 | -1.7% | -1.4% | 2.8% |
| 2/4/2025 | 2.4% | 4.2% | 3.2% |
| 11/5/2024 | 2.4% | 6.6% | 14.3% |
| 8/6/2024 | 1.2% | 0.3% | 5.3% |
| 4/30/2024 | -0.4% | 0.4% | -2.1% |
| 1/30/2024 | 1.2% | 0.8% | 3.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 17 | 18 |
| # Negative | 9 | 7 | 6 |
| Median Positive | 1.2% | 2.5% | 3.7% |
| Median Negative | -1.1% | -1.9% | -2.2% |
| Max Positive | 4.6% | 7.0% | 28.3% |
| Max Negative | -3.5% | -3.4% | -18.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Divestiture of Rockies gathering and processing assets | 1.00 Bil | ||||||
| 2025 Adjusted EBITDA Growth | 5.0% | ||||||
Prior: Q2 2025 Earnings Reported 8/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Adjusted EBITDA Growth | 5.0% | 0.0% | 0.0% | Affirmed | Guidance: 5.0% for 2025 | ||
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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