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NYSE · Technology · Financials

MPLX LP (MPLX) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for MPLX. Market data source · as of 2026-06-30.

Section freshness

Price Aug 19, 11:58 AM EDT · Statements Jun 29, 8:00 PM EDT

Financial read

MPLX latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$2.62B

+11.0% YoY

Free cash flow

$877.00M

+13.6% QoQ

Balance sheet coverage

MPLX balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-06-30

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$42.97B

Liabilities $28.72B

Cash / debt

$1.03B

Net cash -$23.36B

Equity / working capital

—

Working capital -$348.00M

Financial statements

MPLX statement coverage.

Income statement, balance sheet, and cash-flow figures for MPLX, with quarterly and annual history in the tables below.

Data last updated

Jun 29, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual MPLX statements, sourced from Market data source · as of 2026-06-30.

Financial statement period

MPLX statement history

Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Operating income	Revenue QoQ
Q2 FY2026	$2.62B	$1.38B	+11.3%
Q1 FY2026	$2.35B	$1.21B	-4.2%
Q4 FY2025	$2.45B	$1.48B	-0.3%
Q3 FY2025	$2.46B	$1.80B	+4.4%
Q2 FY2025	$2.36B	$1.29B	-4.2%
Q1 FY2025	$2.46B	$1.37B	+1.8%
Q4 FY2024	$2.42B	$1.34B	+3.1%
Q3 FY2024	$2.35B	$1.27B	+4.0%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Debt QoQ
Q2 FY2026	$1.03B	$2.88B	$3.22B	$42.97B	$28.72B	$24.39B	+0.0%
Q1 FY2026	$1.51B	$3.52B	$3.19B	$42.93B	$28.64B	$24.38B	-5.0%
Q4 FY2025	$2.14B	$3.99B	$3.25B	$43.01B	$28.48B	$25.65B	+6.2%
Q3 FY2025	$1.76B	$4.59B	$3.50B	$43.23B	$28.70B	$24.14B	+22.4%
Q2 FY2025	$1.39B	$3.17B	$3.07B	$37.84B	$23.79B	$19.73B	+0.0%
Q1 FY2025	$2.53B	$4.52B	$4.17B	$38.97B	$24.90B	$19.72B	-5.9%
Q4 FY2024	$1.52B	$3.28B	$3.23B	$37.51B	$23.50B	$20.95B	+8.8%
Q3 FY2024	$2.43B	$4.22B	$4.27B	$38.52B	$24.53B	$19.25B	+0.0%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Buybacks	FCF QoQ
Q2 FY2026	$1.70B	$825.00M	$877.00M	$50.00M	+13.6%
Q1 FY2026	$1.35B	$575.00M	$772.00M	$50.00M	-1.3%
Q4 FY2025	$1.50B	$714.00M	$782.00M	$100.00M	-13.6%
Q3 FY2025	$1.43B	$526.00M	$905.00M	$100.00M	-36.9%
Q2 FY2025	$1.74B	$301.00M	$1.44B	$100.00M	+46.6%
Q1 FY2025	$1.25B	$267.00M	$979.00M	$100.00M	-28.4%
Q4 FY2024	$1.68B	$308.00M	$1.37B	$100.00M	+20.4%
Q3 FY2024	$1.42B	$280.00M	$1.14B	$76.00M	-16.1%

Valuation and returns

Enterprise value: $83.19B; TECHi computed

Return on assets: 9.14%; Market data source

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $9.73B; Annual statement 2025-12-31

Market cap / annual revenue: 6.15; Live market value divided by annual revenue

Annual sales and income multiple

EV / annual revenue8.55

EV / annual operating income14.00

Market capitalization bridge

Market cap / annual revenue6.15

TTM valuation multiples

TTM revenue: $9.87B; Trailing twelve months

TTM EBIT: $5.88B; TTM operating income

Market cap / TTM revenue: 6.06; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 8.43; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

EV / TTM EBIT14.16

Revenue, net income, and free cash flow

Revenue$2.62BFree cash flow$877.00M

Q1 FY2025Q4 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Growth vs cost pressure

Revenue growth YoY+11.0%

Debt growth YoY+23.6%

Cash conversion

FCF margini33.79%

CapEx / revenuei26.74%

FCF / EBITi0.57

TTM free cash flow / TTM operating income

Quarterly margin heatmap

Gross margin

Q1 FY2025

—

Q2 FY2025

—

Q3 FY2025

—

Q4 FY2025

—

Q1 FY2026

—

Q2 FY2026

—

Operating margin

Q1 FY2025

55.53%

Q2 FY2025

54.88%

Q3 FY2025

73.24%

Q4 FY2025

60.51%

Q1 FY2026

51.68%

Q2 FY2026

52.70%

Net margin

Q1 FY2025

—

Q2 FY2025

—

Q3 FY2025

—

Q4 FY2025

—

Q1 FY2026

—

Q2 FY2026

—

Profit bridge

EBIT$1.38B

Pretax income$1.09B

Tax expense$2.00M

Other income statement lines

Income before tax$1.09B

Income tax expense$2.00M

Balance sheet · Q2 FY2026

Cash & equivalents: $1.03B

Total debt: $24.39B

Net cash: -$23.36B; Net debt position

Balance sheet detail

Current assets: $2.88B

Current liabilities: $3.22B

Receivables: $672.00M

Long-term debt: $24.39B

Debt and liquidity

Debt / revenuei2.47

Cash / debt0.04

Quick ratioi0.53

Cash + short-term investments + receivables / current liabilities

Cash generation

Operating cash flow: $1.70B

Capital expenditure: $825.00M

Free cash flow: $877.00M

Capital returned: $50.00M; Buybacks + dividends paid

Cash-flow detail

Investing cash flow: -$1.03B

Financing cash flow: -$1.15B

Buybacks: $50.00M

Net buybacks: $50.00M; Repurchases less stock issuance

Cash flow read

MPLX runs cash-flow positive.

MPLX is generating $877.00M of free cash, which funds buybacks ($50.00M) and dividends (—) without leaning on the balance sheet. Watch the gap between FCF and net income — a widening gap is usually working-capital noise; a persistent gap is a signal.

Frequently asked

Common questions.

What financial data is available for MPLX?

The MPLX Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for MPLX LP. Missing modules and empty line items are omitted.

How current are MPLX's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is MPLX LP's reported net margin?

MPLX LP's fresh reported margin field is 39.78%. The Financials page shows the supporting period data currently available for MPLX.