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Q4 FY2026 · Earnings report
EPS estimate 22.21Revenue estimate 47.06B
Q4 FY2026 · Earnings report
EPS estimate 22.21Revenue estimate 47.06B
MARATHON PETROLEUM free cash flow 2008–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
MARATHON PETROLEUM's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 9.61B USD, up 477.9% on the same quarter a year before. MARATHON PETROLEUM's free cash flow over the last twelve months was 20.84B USD, up 387.4% on the twelve months before. In fiscal year 2025 it was 4.77B USD, down 22.3% on the year before.
Last updated 6 Nov 2026 · Next report 2 Feb 2027
Free cash flow
Free cash flow · +8.7% a year over 10 yearsFree cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | 20.84B | +387.42% | 11.90% | 25.25B | -4.41B | 71.56 |
| FY2025 | 31 Dec 2025 | 4.77B | -22.26% | 3.59% | 8.25B | -3.49B | 15.63 |
| FY2024 | 31 Dec 2024 | 6.13B | -49.85% | 4.42% | 8.67B | -2.53B | 17.98 |
| FY2023 | 31 Dec 2023 | 12.23B | -12.29% | 8.24% | 14.12B | -1.89B | 29.89 |
| FY2022 | 31 Dec 2022 | 13.94B | +381.39% | 7.86% | 16.36B | -2.42B | 27.02 |
| FY2021 | 31 Dec 2021 | 2.90B | — | 2.41% | 4.36B | -1.46B | 4.54 |
| FY2020 | 31 Dec 2020 | -368.00M | -107.95% | -0.53% | 2.42B | -2.79B | -0.57 |
| FY2019 | 31 Dec 2019 | 4.63B | +55.45% | 4.17% | 9.44B | -4.81B | 6.97 |
| FY2018 | 31 Dec 2018 | 2.98B | -23.22% | 3.46% | 6.16B | -3.18B | 5.66 |
| FY2017 | 31 Dec 2017 | 3.88B | +244.89% | 5.19% | 6.61B | -2.73B | 7.58 |
| FY2016 | 31 Dec 2016 | 1.13B | -45.78% | 1.78% | 4.02B | -2.89B | 2.12 |
| FY2015 | 31 Dec 2015 | 2.08B | +27.30% | 2.88% | 4.07B | -2.00B | 3.83 |
| FY2014 | 31 Dec 2014 | 1.63B | -25.88% | 1.67% | 3.11B | -1.48B | 2.84 |
| FY2013 | 31 Dec 2013 | 2.20B | -29.59% | 2.20% | 3.41B | -1.21B | 3.46 |
| FY2012 | 31 Dec 2012 | 3.12B | +47.03% | 3.80% | 4.49B | -1.37B | 4.56 |
| FY2011 | 31 Dec 2011 | 2.12B | +112.40% | 2.70% | 3.31B | -1.19B | 2.97 |
| FY2010 | 31 Dec 2010 | 1.00B | — | 1.60% | 2.22B | -1.22B | 1.40 |
| FY2009 | 31 Dec 2009 | -436.00M | — | -0.96% | 2.46B | -2.89B | -0.61 |
| FY2008 | 31 Dec 2008 | -2.10B | — | -3.22% | 684.00M | -2.79B | -2.94 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 9.61B | +477.92% | 17.14% | 10.73B | -1.13B | 34.30 |
| Q2 FY2026 | 30 Jun 2026 | 9.14B | +370.22% | 17.58% | 10.33B | -1.19B | 31.41 |
| Q1 FY2026 | 31 Mar 2026 | 208.00M | — | 0.60% | 1.12B | -913.00M | 0.71 |
| Q4 FY2025 | 31 Dec 2025 | 1.89B | +35.15% | 5.80% | 3.07B | -1.18B | 6.31 |
| Q3 FY2025 | 30 Sept 2025 | 1.66B | +60.89% | 4.77% | 2.61B | -947.00M | 5.47 |
| Q2 FY2025 | 30 Jun 2025 | 1.94B | -29.44% | 5.75% | 2.64B | -695.00M | 6.29 |
| Q1 FY2025 | 31 Mar 2025 | -727.00M | -176.77% | -2.31% | -64.00M | -663.00M | -2.32 |
| Q4 FY2024 | 31 Dec 2024 | 1.40B | +136.38% | 4.22% | 2.21B | -810.00M | 4.35 |
| Q3 FY2024 | 30 Sept 2024 | 1.03B | -77.21% | 2.94% | 1.68B | -651.00M | 3.11 |
| Q2 FY2024 | 30 Jun 2024 | 2.76B | -21.35% | 7.27% | 3.24B | -487.00M | 7.87 |
| Q1 FY2024 | 31 Mar 2024 | 947.00M | -73.69% | 2.90% | 1.53B | -585.00M | 2.62 |
| Q4 FY2023 | 31 Dec 2023 | 591.00M | -83.83% | 1.63% | 1.12B | -532.00M | 1.57 |
| Q3 FY2023 | 30 Sept 2023 | 4.53B | +150.03% | 11.08% | 4.95B | -420.00M | 11.45 |
| Q2 FY2023 | 30 Jun 2023 | 3.50B | -45.72% | 9.64% | 3.98B | -481.00M | 8.36 |
| Q1 FY2023 | 31 Mar 2023 | 3.60B | +78.39% | 10.33% | 4.06B | -457.00M | 8.05 |
| Q4 FY2022 | 31 Dec 2022 | 3.66B | +14.50% | 9.18% | 4.38B | -726.00M | 7.81 |
| Q3 FY2022 | 30 Sept 2022 | 1.81B | — | 3.96% | 2.51B | -701.00M | 3.67 |
| Q2 FY2022 | 30 Jun 2022 | 6.45B | +498.70% | 12.00% | 6.95B | -498.00M | 12.04 |
| Q1 FY2022 | 31 Mar 2022 | 2.02B | +1,245.33% | 5.30% | 2.51B | -495.00M | 3.54 |
| Q4 FY2021 | 31 Dec 2021 | 3.19B | +266.59% | 9.04% | 3.67B | -481.00M | 5.24 |
| Q3 FY2021 | 30 Sept 2021 | -1.53B | -321.98% | -4.72% | -1.15B | -377.00M | -2.39 |
| Q2 FY2021 | 30 Jun 2021 | 1.08B | — | 3.64% | 1.38B | -302.00M | 1.63 |
| Q1 FY2021 | 31 Mar 2021 | 150.00M | — | 0.66% | 454.00M | -304.00M | 0.23 |
| Q4 FY2020 | 31 Dec 2020 | 871.00M | +1.52% | 4.85% | 1.33B | -457.00M | 1.34 |
| Q3 FY2020 | 30 Sept 2020 | 687.00M | -60.63% | 3.95% | 1.32B | -634.00M | 1.06 |
| Q2 FY2020 | 30 Jun 2020 | -207.00M | -114.34% | -1.70% | 538.00M | -745.00M | -0.32 |
| Q1 FY2020 | 31 Mar 2020 | -1.72B | -550.00% | -7.74% | -768.00M | -951.00M | -2.65 |
| Q4 FY2019 | 31 Dec 2019 | 858.00M | -41.39% | 2.76% | 2.41B | -1.55B | 1.31 |
| Q3 FY2019 | 30 Sept 2019 | 1.75B | +424.02% | 6.33% | 2.79B | -1.04B | 2.64 |
| Q2 FY2019 | 30 Jun 2019 | 1.44B | -13.79% | 4.31% | 2.62B | -1.18B | 2.15 |
| Q1 FY2019 | 31 Mar 2019 | 382.00M | — | 1.35% | 1.62B | -1.24B | 0.57 |
| Q4 FY2018 | 31 Dec 2018 | 1.46B | -24.61% | 4.53% | 2.73B | -1.26B | 2.08 |
| Q3 FY2018 | 30 Sept 2018 | 333.00M | -73.21% | 1.45% | 1.18B | -849.00M | 0.73 |
| Q2 FY2018 | 30 Jun 2018 | 1.68B | +745.96% | 7.51% | 2.39B | -711.00M | 3.61 |
| Q1 FY2018 | 31 Mar 2018 | -892.00M | -279.12% | -4.73% | -137.00M | -755.00M | -1.86 |
| Q4 FY2017 | 31 Dec 2017 | 1.94B | +689.43% | 9.22% | 2.75B | -804.00M | 3.94 |
| Q3 FY2017 | 30 Sept 2017 | 1.24B | — | 6.47% | 1.91B | -663.00M | 2.44 |
| Q2 FY2017 | 30 Jun 2017 | 198.00M | -87.48% | 1.09% | 853.00M | -655.00M | 0.38 |
| Q1 FY2017 | 31 Mar 2017 | 498.00M | — | 3.06% | 1.11B | -610.00M | 0.94 |
| Q4 FY2016 | 31 Dec 2016 | 246.00M | +182.76% | 1.43% | 991.00M | -745.00M | 0.46 |
| Q3 FY2016 | 30 Sept 2016 | -311.00M | -155.94% | -1.87% | 405.00M | -716.00M | -0.58 |
| Q2 FY2016 | 30 Jun 2016 | 1.58B | +155.41% | 9.40% | 2.27B | -686.00M | 2.98 |
| Q1 FY2016 | 31 Mar 2016 | -415.00M | -151.81% | -3.25% | 330.00M | -745.00M | -0.78 |
| Q4 FY2015 | 31 Dec 2015 | 87.00M | — | 0.56% | 808.00M | -721.00M | 0.16 |
| Q3 FY2015 | 30 Sept 2015 | 556.00M | -20.00% | 2.97% | 1.07B | -513.00M | 1.03 |
| Q2 FY2015 | 30 Jun 2015 | 619.00M | +7.47% | 3.01% | 994.00M | -375.00M | 1.13 |
| Q1 FY2015 | 31 Mar 2015 | 801.00M | +60.52% | 4.66% | 1.19B | -389.00M | 1.46 |
| Q4 FY2014 | 31 Dec 2014 | -140.00M | -115.87% | -0.63% | 388.00M | -528.00M | -0.25 |
| Q3 FY2014 | 30 Sept 2014 | 695.00M | +609.18% | 2.73% | 1.08B | -383.00M | 1.22 |
| Q2 FY2014 | 30 Jun 2014 | 576.00M | — | 2.15% | 878.00M | -302.00M | 1.00 |
| Q1 FY2014 | 31 Mar 2014 | 499.00M | -73.51% | 2.14% | 766.00M | -267.00M | 0.84 |
| Q4 FY2013 | 31 Dec 2013 | 882.00M | -46.22% | 3.54% | 1.36B | -473.00M | 1.45 |
| Q3 FY2013 | 30 Sept 2013 | 98.00M | -93.48% | 0.37% | 407.00M | -309.00M | 0.16 |
| Q2 FY2013 | 30 Jun 2013 | -665.00M | — | -2.59% | -436.00M | -229.00M | -1.03 |
| Q1 FY2013 | 31 Mar 2013 | 1.88B | +4,857.89% | 8.08% | 2.08B | -195.00M | 2.82 |
| Q4 FY2012 | 31 Dec 2012 | 1.64B | +452.19% | 8.01% | 2.04B | -403.00M | 2.43 |
| Q3 FY2012 | 30 Sept 2012 | 1.50B | +7.90% | 7.14% | 1.83B | -331.00M | 2.21 |
| Q2 FY2012 | 30 Jun 2012 | -57.00M | — | -0.28% | 269.00M | -326.00M | -0.08 |
| Q1 FY2012 | 31 Mar 2012 | 38.00M | -94.35% | 0.19% | 347.00M | -309.00M | 0.05 |
| Q4 FY2011 | 31 Dec 2011 | 297.00M | -81.79% | 1.53% | 638.00M | -341.00M | 0.43 |
| Q3 FY2011 | 30 Sept 2011 | 1.39B | — | 6.74% | 1.72B | -327.00M | 1.95 |
| Q2 FY2011 | 30 Jun 2011 | -237.00M | -261.22% | -1.14% | 37.00M | -274.00M | -0.33 |
| Q1 FY2011 | 31 Mar 2011 | 672.00M | — | 3.76% | 915.00M | -243.00M | 0.94 |
| Q4 FY2010 | 31 Dec 2010 | 1.63B | +1,889.02% | 9.34% | 1.93B | -296.00M | 2.29 |
| Q3 FY2010 | 30 Sept 2010 | -292.00M | — | -1.84% | -5.00M | -287.00M | -0.41 |
| Q2 FY2010 | 30 Jun 2010 | 147.00M | — | 0.93% | 444.00M | -297.00M | 0.21 |
| Q1 FY2010 | 31 Mar 2010 | -486.00M | — | -3.63% | -149.00M | -337.00M | -0.68 |
| Q4 FY2009 | 31 Dec 2009 | 82.00M | — | 0.61% | 685.00M | -603.00M | 0.12 |
Figures in USD. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about MARATHON PETROLEUM's free cash flow
Source: Financial Modeling Prep