Marathon Petroleum (MPC)财务
NYSE · Energy · Oil & Gas Refining & Marketing · 员工18,500人 · CEO Maryann T. Mannen
- 股价
- $444.73 +2.83%
- 市值
- $1250亿
- 企业价值
- $1510亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-03 EPS预期 $25.37
营收(TTM)$1540亿+15.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)8.0%+4.7 百分点 对比去年同期营业利润 $122亿
净利润(TTM)$85.5亿+300.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$129亿+253.7% 对比去年同期资本支出 $42.3亿
稀释EPS(TTM)$29.05+330.4% 对比去年同期最近4个季度之和
净现金-$265亿+6.5% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1250亿 EV $1510亿
- 营收
- $1540亿 过去12个月
- 营收增速
- +36% FY2026年一致预期
- 净利润率
- 5.6% 净利润 / 营收,TTM
- P/E
- 15.3× 预期 6.8×(FY2026)
- P/S
- 0.8× 股价 / 营收,TTM
- EV / EBITDA
- 8.7× TTM
- 自由现金流
- $129亿 过去12个月
- 净利润
- $85.5亿 过去12个月
- 营收预期
- $1810亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $466亿
- 股息
- $4.00 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期28.1%,EPS 超预期24.2%营收$523亿,预期$409亿(+28.1%);EPS $17.73,预期$14.27(+24.2%)。
- 营收增长加速:同比53.8%Q2 '26营收$520亿,此前四个季度的平均值为-0.9%。
- 营业利润率8.0%(TTM),较去年同期+4.7 百分点营收增长15.3%,营业利润增长177.7%。
- 资本支出占营收的2.7%(去年为2.1%)最近4个季度投入$42.3亿(同比+49.9%)。自由现金流$129亿,相当于净利润的150.8%。
- 股东回报$61亿 = 自由现金流的47.3%回购$49.3亿(去年为$59.1亿),股息$11.6亿,股权激励$0(TTM)。
- 稀释股数一年内减少5.8%Q2 '26稀释股数2.91亿,一年前为3.09亿。
- 净债务 $265亿现金 + 短期投资 $77.7亿,含租赁债务 $343亿;一年前净债务 $284亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $520亿 | $338亿 | +53.8% |
| 毛利率 | 17.2% | 8.8% | +8.3 百分点 |
| 营业利润 | $73.2亿 | $19亿 | +286.4% |
| 营业利润率 | 14.1% | 5.6% | +8.5 百分点 |
| 净利润 | $51.4亿 | $12.2亿 | +322.5% |
| 稀释EPS | $17.68 | $3.96 | +346.5% |
| 经营现金流 | $103亿 | $26.4亿 | +291.3% |
| 资本支出 | $11.9亿 | $6.95亿 | +70.6% |
| 自由现金流 | $91.4亿 | $19.4亿 | +370.2% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $0 | $0 | – |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $523亿 | $409亿 | +28.1% |
| EPS(一致预期口径) | $17.73 | $14.27 | +24.2% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Refining And Marketing | $493亿 | +54.9% | 94.8% | $1450亿 | +16.0% | |
| Midstream | $14.6亿 | +8.6% | 2.8% | $56亿 | +111.8% | |
| Renewable Diesel | $12.4亿 | +96.7% | 2.4% | $33.6亿 | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Midstream | $31.1亿 | +10.5% | 100.0% | $147亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $171亿
- 资本支出
- -$42.3亿
- 股票回购
- -$49.3亿
- 股息
- -$11.6亿
- 收购
- -$17.5亿
- 债务净发行
- $34.2亿
- 股权激励费用
- $0
- 自由现金流
- $129亿
- 股东回报 / FCF
- 47.3%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 15.3× | 12.0× | 4.1× – 23.6× |
| EV / EBITDA | 8.7× | 6.0× | 3.2× – 8.3× |
| EV / 营收 | 1.0× | 0.5× | 0.4× – 0.6× |
| 股价 / FCF | 9.7× | 8.3× | 4.3× – 14.0× |
| 股价 / 净资产 | 6.8× | 2.3× | 1.5× – 2.9× |
| FCF收益率 | 10.3% | 14.7% | 7.1% – 23.4% |
| 投入资本回报率 | 14.2% | 11.1% | 5.7% – 20.8% |
| 净资产收益率 | 48.7% | 34.4% | 19.4% – 52.4% |
分析师
一致目标价 $444.30 (-0.1%)
区间 $321.00 – $560.00 · 评级 Buy
强烈买入0
买入25
持有8
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $1810亿 | +36.3% | $65.47 | +393.3% | 6.8× | 10 |
| FY2027 | $1690亿 | -6.3% | $57.74 | -11.8% | 7.7× | 10 |
| FY2028 | $1590亿 | -6.1% | $28.16 | -51.2% | 15.8× | 5 |
| FY2029 | $1620亿 | +2.0% | $37.48 | +33.1% | 11.9× | 1 |
| FY2030 | $1710亿 | +5.2% | $16.99 | -54.7% | 26.2× | 1 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Marathon Petroleum Corporation在近期10-Q / 10-K文件中标记的全部314项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $192亿 | $133亿 | +44.1% | $130亿 | $139亿 | -6.7% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $157亿 | $111亿 | +41.4% | $103亿 | $111亿 | -7.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $1300万 | $2200万 | -40.9% | $2000万 | $7300万 | -72.6% |
| Accrual for Environmental Loss Contingencies | $3.68亿 | $3.47亿 | +6.1% | $3.55亿 | $3.64亿 | -2.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.1亿 | -$1.08亿 | -1.9% | -$1.05亿 | -$1.14亿 | +7.9% |
| Additional Paid in Capital, Common Stock | $337亿 | $337亿 | 0.0% | $337亿 | $336亿 | +0.2% |
| Amortization of Debt Issuance Costs and Discounts | $900万 | $900万 | 0.0% | $3900万 | -$3100万 | +225.8% |
| Amortization of Intangible Assets | – | – | – | $2.71亿 | $2.66亿 | +1.9% |
| Asset Retirement Obligation, Current | $3700万2025-12-31 | $3600万 | +2.8% | $3700万 | $3600万 | +2.8% |
| Asset Retirement Obligations, Noncurrent | $2.25亿2025-12-31 | $2.1亿 | +7.1% | $2.25亿 | $2.1亿 | +7.1% |
| Assets | $943亿 | $785亿 | +20.2% | $840亿 | $789亿 | +6.5% |
| Assets, Current | $343亿 | $237亿 | +44.5% | $248亿 | $244亿 | +1.4% |
| Business Combination, Acquisition Related Costs | – | – | – | $3300万 | $0 | – |
| Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $2100万2025-09-30 | $0 | – | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $77.7亿 | $16.7亿 | +364.3% | $36.7亿 | $32.1亿 | +14.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $77.7亿 | $16.7亿 | +364.0% | $36.7亿 | $32.1亿 | +14.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $56.2亿 | -$21.4亿 | +362.6% | $4.62亿 | -$22.4亿 | +120.7% |
| Common Stock, Dividends, Per Share, Declared | $1.00 | $0.91 | +9.9% | $3.73 | $3.39 | +10.2% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 20亿 | 20亿 | 0.0% | 20亿 | 20亿 | 0.0% |
| Common Stock, Shares, Issued | 9.95亿 | 9.94亿 | +0.1% | 9.94亿 | 9.94亿 | 0.0% |
| Common Stock, Value, Issued | $1000万 | $1000万 | 0.0% | $1000万 | $1000万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $51.4亿 | $12.2亿 | +322.0% | $40.6亿 | $34.6亿 | +17.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $55.4亿 | $16.1亿 | +243.6% | $58.9亿 | $50.8亿 | +15.8% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Net | -$4600万 | -$8700万 | +47.1% | -$1.28亿 | $2.93亿 | -143.7% |
| Contract with Customer, Liability | $2.84亿 | – | – | $2.15亿 | $5.15亿 | -58.3% |
| Cost of Goods and Services Sold | $431亿 | $300亿 | +43.4% | $1190亿 | $1260亿 | -5.4% |
| Costs and Expenses | $450亿 | $319亿 | +41.1% | $1270亿 | $1340亿 | -5.0% |
| Costs and Expenses, Related Party | $8.7亿 | $7.07亿 | +23.1% | $28.9亿 | $24.4亿 | +18.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $7.06亿 | $8.62亿 | -18.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2000万 | $800万 | +150.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $8.55亿 | $10.1亿 | -15.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.29亿 | $1.44亿 | -10.4% |
| Debt and Lease Obligation | $333亿 | $290亿 | +14.6% | $333亿 | $278亿 | +19.8% |
| Debt Instrument, Unamortized Discount (Premium), Net | $2.29亿 | $1.89亿 | +21.2% | $2.25亿 | $1.74亿 | +29.3% |
| Debt Issuance Costs, Net | $2.1亿 | $1.71亿 | +22.8% | $2.04亿 | $1.42亿 | +43.7% |
| Debt, Current | $21.2亿 | $18.2亿 | +16.5% | $23.7亿 | $30.5亿 | -22.2% |
| Deferred Credits and Other Liabilities, Noncurrent | $22.6亿 | $12.5亿 | +81.0% | $15.4亿 | $13.1亿 | +17.7% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $2.55亿 | -$9000万 | +383.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $200万 | -$100万 | +300.0% |
| Deferred Income Tax Expense (Benefit) | -$4600万 | -$3000万 | -53.3% | $2.82亿 | -$1.24亿 | +327.4% |
| Deferred Income Tax Liabilities, Net | $59.5亿 | $57.2亿 | +4.1% | $59.8亿 | $57.7亿 | +3.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $2500万 | -$3300万 | +175.8% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $8400万2025-12-31 | $7500万 | +12.0% | $8400万 | $7500万 | +12.0% |
| Deferred Tax Assets, Gross | $16.1亿2025-12-31 | $15.5亿 | +4.4% | $16.1亿 | $15.5亿 | +4.4% |
| Deferred Tax Assets, Net of Valuation Allowance | $16.1亿2025-12-31 | $15亿 | +7.4% | $16.1亿 | $15亿 | +7.4% |
| Deferred Tax Assets, Operating Loss Carryforwards | $3200万2025-12-31 | $3900万 | -17.9% | $3200万 | $3900万 | -17.9% |
| Deferred Tax Assets, Other | $1.15亿2025-12-31 | $9500万 | +21.1% | $1.15亿 | $9500万 | +21.1% |
| Deferred Tax Assets, Tax Credit Carryforwards | $2000万2025-12-31 | $2200万 | -9.1% | $2000万 | $2200万 | -9.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $5.6亿2025-12-31 | $5.58亿 | +0.4% | $5.6亿 | $5.58亿 | +0.4% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $8000万2025-12-31 | $8100万 | -1.2% | $8000万 | $8100万 | -1.2% |
| Deferred Tax Assets, Valuation Allowance | $900万2025-12-31 | $5100万 | -82.4% | $900万 | $5100万 | -82.4% |
| Deferred Tax Liabilities, Gross | $75.9亿2025-12-31 | $72.6亿 | +4.4% | $75.9亿 | $72.6亿 | +4.4% |
| Deferred Tax Liabilities, Inventory | $8.45亿2025-12-31 | $6.72亿 | +25.7% | $8.45亿 | $6.72亿 | +25.7% |
| Deferred Tax Liabilities, Investment in Noncontrolled Affiliates | $39.6亿2025-12-31 | $37.4亿 | +5.7% | $39.6亿 | $37.4亿 | +5.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $3.24亿2025-12-31 | $2.46亿 | +31.7% | $3.24亿 | $2.46亿 | +31.7% |
| Deferred Tax Liabilities, Net | $59.8亿2025-12-31 | $57.7亿 | +3.7% | $59.8亿 | $57.7亿 | +3.7% |
| Deferred Tax Liabilities, Other | $1900万2025-12-31 | $2000万 | -5.0% | $1900万 | $2000万 | -5.0% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $24.4亿2025-12-31 | $25.8亿 | -5.5% | $24.4亿 | $25.8亿 | -5.5% |
| Defined Benefit Plan, Accumulated Benefit Obligation | $28.2亿2025-12-31 | $25.8亿 | +9.3% | $28.2亿 | $25.8亿 | +9.3% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01