Marathon Petroleum Corp（MPC）の決算・業績分析
Marathon Petroleum Corpの2025年有価証券報告書をAI分析。売上高$132.7B(-4.4%)。営業利益$8.3B。Energy。
目次
Marathon Petroleum Corpの2025年度 業績サマリー
Marathon Petroleum Corp（証券コード: MPC）の2025年度決算・業績分析。売上高は$132.7B（前年比-4.4%）。営業利益は$8.3B（前年比+22.0%）。純利益は$4.0B（前年比+17.5%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Marathon Petroleum Corpの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- MPC achieved a 47.9% YoY revenue increase to $177.5B (XBRL), driven by strong refining and marketing performance.
- Operating income surged 399.3% YoY to $21.5B (XBRL), reflecting improved refining margins and strategic cost management.
- ROE reached 59.5% (XBRL), supported by robust net income growth (+49.1% YoY) and efficient asset utilization (2.06x asset turnover).
Marathon Petroleum Corpの売上高変化の要因
- •MPC's FY2024 revenue of $177.5B (XBRL) reflects a 47.9% YoY increase, driven by strong performance in refining and marketing. Historical data shows a 5-year CAGR of 11.5% in revenue, with operating income growing at a 25.3% CAGR. The company's renewable diesel segment and midstream logistics network contributed to diversified revenue streams. Notably, FY2024 revenue surpassed FY2023's $120.0B (XBRL) by 47.9%, despite a 14.6% decline in FY2025 revenue to $148.4B (XBRL).
Marathon Petroleum Corpの営業利益変化の要因
- •MPC's profitability metrics show significant improvement: operating margin of 12.1% (XBRL) and net margin of 8.2% (XBRL), up from FY2023's 3.6% and 8.1% respectively. Operating income grew 399.3% YoY to $21.5B (XBRL), while net income rose 49.1% YoY to $14.5B (XBRL). EBITDA of $24.7B (13.9% of revenue) highlights strong cash generation. Cost efficiency is evident in the 14-day cash conversion cycle (CCC) (XBRL), combining 25-day receivables, 22-day inventory, and 33-day payables.
Marathon Petroleum Corpの事業リスクと対応
Volatile refining margins due to feedstock prices, tariffs, and market conditions (10-K).
Regulatory pressures from stricter emissions standards and electric vehicle mandates (10-K).
Geopolitical risks like 2025 U.S. tariffs on Canadian energy imports (10-K).
Declining demand for liquid fuels due to EV adoption (10-K).
Operational risks from natural disasters, political instability, and supply chain disruptions (10-K).
Stricter CAFE and EPA emissions standards (10-K), including 40 mpg requirements by 2026 (10-K).
Marathon Petroleum Corpの事業内容
Marathon Petroleum Corp (MPC) is an integrated downstream energy company that generates revenue through refining crude oil, marketing refined products, and operating midstream energy infrastructure (10-K). Its core segments include Refining & Marketing (gasoline, distillates, NGLs, petrochemicals), Midstream (logistics, transportation, storage), and Renewable Diesel (wholesale and spot market sales). MPC's competitive advantages include the largest refining system in the U.S. (3.0 million barrels per day capacity), an integrated midstream logistics network, and leadership in renewable diesel production (10-K). Key customers include wholesale marketing customers, spot market buyers, and dealers under the ARCO brand, with no significant customer concentration (10-K).
Marathon Petroleum CorpのAI業績分析レポート（2024年度）
Marathon Petroleum Corp (MPC) FY2024 Annual Report Analysis
Highlights
Business Overview
Marathon Petroleum Corp (MPC) is an integrated downstream energy company with three core segments: Refining & Marketing, Midstream, and Renewable Diesel. The company refines crude oil into transportation fuels, NGLs, and petrochemicals, while its Midstream segment provides logistics and transportation services. MPC's competitive advantages include the largest refining system in the U.S. (3.0 million barrels per day capacity), an integrated midstream logistics network, and leadership in renewable diesel production. Key customers include wholesale marketing customers, spot market buyers, and dealers under the ARCO brand, with no significant customer concentration.
Revenue Analysis
MPC's FY2024 revenue of $177.5B (XBRL) reflects a 47.9% YoY increase, driven by strong refining and marketing performance. Historical data shows a 5-year CAGR of 11.5% in revenue, with operating income growing at a 25.3% CAGR. The company's renewable diesel segment and midstream logistics network contributed to diversified revenue streams. FY2024 revenue surpassed FY2023's $120.0B (XBRL) by 47.9%, though FY2025 revenue is projected to decline to $148.4B (XBRL).
Profitability Analysis
MPC's profitability metrics show significant improvement: operating margin of 12.1% (XBRL) and net margin of 8.2% (XBRL), up from FY2023's 3.6% and 8.1% respectively. Operating income grew 399.3% YoY to $21.5B (XBRL), while net income rose 49.1% YoY to $14.5B (XBRL). EBITDA of $24.7B (13.9% of revenue) highlights strong cash generation. Cost efficiency is evident in the 14-day cash conversion cycle (CCC) (XBRL), combining 25-day receivables, 22-day inventory, and 33-day payables.
Balance Sheet Analysis
MPC's balance sheet shows a 28.4% equity ratio (XBRL) and a 2.24x debt-to-equity ratio (XBRL), indicating moderate leverage. Total assets declined slightly to $86.0B (XBRL) in FY2024 from $89.9B in FY2023, while total equity fell to $24.4B (XBRL) from $27.7B. Liquidity is strong, with $5.4B in cash (XBRL) and a current ratio of 1.59x (XBRL).
Cash Flow Analysis
Operating cash flow increased 258.3% YoY to $16.4B (XBRL), driven by higher net income and improved working capital management. Free cash flow (FCF) of $13.9B (XBRL) was generated after $2.4B in CapEx (XBRL). Shareholder returns totaled $13.2B (XBRL), including $1.3B in dividends and $11.9B in share repurchases. Capital expenditures were 1.4% of revenue (XBRL), with a CapEx/D&A ratio of 0.75x (XBRL).
Working Capital Analysis
MPC's cash conversion cycle (CCC) was 14 days (XBRL), combining 25-day receivables, 22-day inventory, and 33-day payables. This efficiency reflects strong supply chain management and customer credit terms.
Risks
Outlook
N/A (10-K does not provide forward-looking guidance or management outlook in the provided text).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 86.1B | 111.1B | 69.8B | 120.0B | 177.5B | 148.4B |
| Operating Income | 4.7B | 4.5B | -12.2B | 4.3B | 21.5B | 14.5B |
| Net Income | 2.8B | 2.6B | -9.8B | 9.7B | 14.5B | 9.7B |
| Total Assets | 98.6B | 85.2B | 85.4B | 89.9B | 86.0B | 78.9B |
| Total Equity | 33.7B | 22.2B | 26.2B | 27.7B | 24.4B | 17.7B |
| Operating Cash Flow | 6.2B | 9.4B | 2.4B | 4.4B | 16.4B | 14.1B |
Energyの企業一覧
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