MPLX LP

MPLX· NYSE· Pipe Lines (No Natural Gas)

We record prices for the companies we cover; MPLX is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

$9.7B

+13.8% a year over 9 years

FY2016FY2025

Operating61.1%Net–

FY2025

FY2016FY2025

Free cash flow$4.1BOwner earnings–

Free cash flow +41.7% a year

FY2016FY2025

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
The business
Revenue	$3.0B	$3.9B	$5.4B	$7.0B	$6.9B	$8.0B	$8.9B	$8.7B	$9.2B	$9.7B
Revenue growth	175.1%	27.7%	40.9%	29.2%	-2.1%	16.3%	11.3%	-2.1%	5.2%	5.8%
Gross margin	–	–	–	–	–	–	–	–	–	–
Operating margin	–	–	–	–	3.1%	49.8%	55.0%	56.1%	57.5%	61.1%
Net income	$233.0M	$794.0M	$1.8B	$1.0B	-$720.0M	$3.1B	$3.9B	$3.9B	–	–
Net margin	7.7%	20.5%	33.4%	14.7%	-10.4%	38.4%	44.2%	45.0%	–	–
Diluted EPS	–	–	–	–	–	–	–	–	–	–
Return on invested capital?	–	–	–	–	–	–	–	–	–	–
Cash
Operating cash flow	$1.5B	$1.9B	$3.1B	$4.1B	$4.5B	$4.9B	$5.0B	$5.4B	$5.9B	$5.9B
Capital expenditure	$1.3B	$1.4B	$2.1B	$2.4B	$1.2B	$529.0M	$806.0M	$937.0M	$1.1B	$1.8B
Free cash flow	$178.0M	$496.0M	$960.0M	$1.7B	$3.3B	$4.4B	$4.2B	$4.5B	$4.9B	$4.1B
Stock-based compensation	-$10.0M	-$15.0M	$24.0M	$22.0M	$14.0M	–	–	–	–	–
Owner earnings?	$188.0M	$511.0M	$936.0M	$1.7B	$3.3B	–	–	–	–	–
Free cash flow per share	–	–	–	–	–	–	–	–	–	–
Capital allocation
Dividends paid	–	–	–	–	–	–	–	–	–	–
Share repurchases	–	–	$0	$0	$33.0M	$630.0M	$491.0M	$0	$326.0M	$400.0M
Diluted shares	–	–	–	–	–	–	–	–	–	–
Share count change?	–	–	–	–	–	–	–	–	–	–
Balance sheet
Cash and equivalents	$234.0M	$5.0M	$77.0M	$15.0M	$15.0M	$13.0M	$238.0M	$1.0B	$1.5B	$2.1B
Short-term investments	–	–	–	–	–	–	–	–	–	–
Total debt	–	–	–	–	–	–	–	–	–	–
Net debt	–	–	–	–	–	–	–	–	–	–
Shareholders' equity	–	–	–	–	–	–	–	–	–	–