Marathon Petroleum
MPC · Oil & Gas Refining & Marketing
$457.22
0.4%PBF Energy
PBF · Oil & Gas Refining & Marketing
$76.17
3.9%The short version
- Marathon Petroleum is the larger business, with $132.7B of revenue in fiscal 2025 against $29.3B for PBF Energy, about 4.5 times as much.
- Marathon Petroleum grew revenue faster (−4.4%, against −11.4%).
- Marathon Petroleum kept more of each dollar of sales as operating profit (6.3% operating margin, against −0.2% operating margin).
- Marathon Petroleum turned more of its sales into free cash flow (3.6% FCF margin, against −2.7% FCF margin).
- Marathon Petroleum earned a higher return on the capital invested in it (13.6%, against −0.6%).
- Investors pay more for each dollar of Marathon Petroleum’s earnings: a P/E of 15.7x against 6.7x for PBF Energy.
| Latest fiscal year | MPC · FY25 | PBF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $132.6B | $9.2B |
| Revenue | $132.7B | $29.3B |
| Free cash flow | $4.8B | −$783M |
| Net income | $4.0B | −$159M |
| Growth | ||
| Revenue growth | −4.4% | −11.4% |
| 5-year growth | 13.7% | 14.2% |
| Share count change | −10.3% | −1.9% |
| Profitability | ||
| Gross margin | 10.0% | −2.0% |
| Operating margin | 6.3% | −0.2% |
| Net margin | 3.1% | −0.5% |
| FCF margin | 3.6% | −2.7% |
| Return on capital | 13.6% | −0.6% |
| Return on equity | 23.1% | −2.9% |
| Balance sheet | ||
| Net debt | $29.2B | $1.7B |
| Net debt / EBITDA | 2.5x | 5.2x |
| Dividends and buybacks | $4.6B | $126M |
| Valuation & quality | ||
| P/E | 15.7x | 6.7x |
| Piotroski F-score | 8 | 4 |
FY16
MPC $63.3B
PBF $15.9B
FY17
MPC $74.7B
PBF $21.8B
FY18
MPC $86.1B
PBF $27.2B
FY19
MPC $111.1B
PBF $24.5B
FY20
MPC $69.8B
PBF $15.1B
FY21
MPC $120.0B
PBF $27.3B
FY22
MPC $177.5B
PBF $46.8B
FY23
MPC $148.4B
PBF $38.3B
FY24
MPC $138.9B
PBF $33.1B
FY25
MPC $132.7B
PBF $29.3B
MPC
PBF
FY16
MPC 3.8%
PBF 3.1%
FY17
MPC 5.4%
PBF 3.4%
FY18
MPC 5.5%
PBF 1.3%
FY19
MPC 4.0%
PBF 2.7%
FY20
MPC −17.6%
PBF −9.4%
FY21
MPC 3.6%
PBF 2.2%
FY22
MPC 12.1%
PBF 8.9%
FY23
MPC 9.8%
PBF 7.7%
FY24
MPC 4.9%
PBF −2.1%
FY25
MPC 6.3%
PBF −0.2%
MPC
PBF
FY16
MPC $1.1B
PBF $353M
FY17
MPC $3.9B
PBF $379M
FY18
MPC $3.0B
PBF $521M
FY19
MPC $4.6B
PBF $529M
FY20
MPC −$368M
PBF −$828M
FY21
MPC $2.9B
PBF $228M
FY22
MPC $13.9B
PBF $4.1B
FY23
MPC $12.2B
PBF $679M
FY24
MPC $6.1B
PBF −$348M
FY25
MPC $4.8B
PBF −$783M
MPC
PBF
FY16
MPC 5.3%
PBF 8.9%
FY17
MPC 13.4%
PBF 10.4%
FY18
MPC 7.4%
PBF 6.6%
FY19
MPC 4.9%
PBF 10.8%
FY20
MPC −14.9%
PBF −22.2%
FY21
MPC 7.2%
PBF 10.7%
FY22
MPC 34.8%
PBF 67.4%
FY23
MPC 24.0%
PBF 40.6%
FY24
MPC 12.0%
PBF −8.7%
FY25
MPC 13.6%
PBF −0.6%
MPC
PBF
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