Is Mplx LP financially healthy?

On 30 September 2026 Mplx LP held 1.30B USD in cash and short-term investments against total debt of 27.09B USD. Its current ratio is 1.56: what falls due within a year against what turns into cash within a year. Over the last twelve months it generated 3.11B USD of free cash flow.

Mplx LP's revenue grew 7.1% a year over its last five fiscal years, from 8.40B USD in fiscal year 2020 to 11.82B USD in fiscal year 2025. Over the last twelve months it was up 6.1% on the twelve months before.

Where can I find Mplx LP's annual report (10-K)?

Mplx LP files its annual report (Form 10-K) and its quarterly reports (Form 10-Q) with the US Securities and Exchange Commission, on its EDGAR site; the figures on these pages come from them.

Mplx LP
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MPLX

Arincen ScoreBeta64/100

64/100B

55.890

USD

-0.62

(-1.10%)

Pre Open

Fair value47.05Plus+19%35Price 55.8957

Q4 FY2026 · Earnings report

EPS estimate 1.16Revenue estimate 3.46B

Q4 FY2026 · Earnings report

Tuesday 2 February

EPS estimate 1.16Revenue estimate 3.46B

Fair value47.05Plus+19%35Price 55.8957

Q4 FY2026 · Earnings report

EPS estimate 1.16Revenue estimate 3.46B

Q4 FY2026 · Earnings report

Tuesday 2 February

EPS estimate 1.16Revenue estimate 3.46B

Overview Financials Forecast Earnings Dividends Company

Mplx LP financials

Yes. Mplx LP earned 4.36B USD of net income over the last twelve months, 33.8% of its revenue. It made a profit in 15 of its 16 fiscal years since 2010. Its last loss was in fiscal year 2020.

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 12.88B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.36B USD
Free cash flow (TTM)What 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.: 3.11B USD
Cash and short-term investments: 1.30B USD
Total debt: 27.09B USD
Shareholders' equityWhat is a balance sheet? The balance sheet lists what a company owns (assets), what it owes (liabilities) and what is left for its shareholders (equity) on one date.: 14.07B USD

Cash, debt and equity as of 30 Sept 2026.

Mplx LP earnings

Next earnings · Q4 FY2026

2 Feb 2027

EPS estimate

1.16 USD

Revenue estimate

3.46B USD

Last quarter · Q3 FY2026

EPS1.15Beat +1.8%Revenue3.27BMissed -2.5%

Revenue

ReportedEstimate

EPS

ReportedEstimate

Period	Report date	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
Q1 FY2027	—	1.10	—	—	+22.72%	3.52B	—	—	+25.31%
Q4 FY2026	2 Feb 2027	1.16	—	—	-0.85%	3.46B	—	—	+6.52%
Q3 FY2026	3 Nov 2026	1.13	1.15	+1.77%	-24.34%	3.35B	3.27B	-2.45%	-9.59%
Q2 FY2026	4 Aug 2026	1.06	1.06	0.00%	+2.91%	3.14B	3.08B	-1.92%	+10.55%
Q1 FY2026	5 May 2026	1.05	0.90	-14.29%	-18.18%	3.09B	2.81B	-9.28%	-2.81%
Q4 FY2025	3 Feb 2026	1.06	1.17	+10.38%	+9.35%	3.18B	3.25B	+2.42%	+14.51%
Q3 FY2025	4 Nov 2025	1.07	1.52	+42.06%	+50.50%	3.16B	3.62B	+14.57%	+30.37%
Q2 FY2025	5 Aug 2025	1.06	1.03	-2.83%	-10.43%	3.14B	2.79B	-11.18%	+2.12%

Period	EPS estimate	Reported EPS	Surprise	EPS growth	Revenue estimate	Reported revenue	Surprise	Revenue growth
FY2028	5.14	—	—	+7.16%	14.79B	—	—	+5.20%
FY2027	4.79	—	—	+11.96%	14.06B	—	—	+9.90%
FY2026	4.28	—	—	-11.17%	12.79B	—	—	+1.95%
FY2025	4.64	4.82	+3.89%	+14.49%	12.96B	12.55B	-3.17%	+14.58%
FY2024	4.19	4.21	+0.43%	+10.50%	11.95B	10.95B	-8.37%	+1.76%
FY2023	3.70	3.81	+3.01%	+1.60%	11.18B	10.76B	-3.75%	+2.09%
FY2022	3.72	3.75	+0.91%	+31.12%	11.00B	10.54B	-4.16%	+10.52%

Mplx LP growth and profitability

Full income statement

Revenue (TTM)What does TTM (trailing twelve months) mean? TTM (trailing twelve months) is a figure over the latest twelve months of reports: usually the last four quarters added together.: 12.88B USD
Net income (TTM)What is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.: 4.36B USD
Gross marginWhat are gross, operating and net profit margins? A profit margin is the share of revenue kept as profit: gross margin after the cost of sales, operating margin after running costs, net margin after all costs.: 50.81%
Operating margin: 40.43%
Net margin: 33.83%

Revenue / Net income

Revenue Net income Net margin

Period	Revenue	Growth	Net income	Growth	Gross margin	Operating margin	Net margin	EBITDA	Growth
FY2025	11.82B	+8.37%	4.91B	+13.78%	45.23%	40.30%	41.57%	7.29B	+10.62%
FY2024	10.90B	+4.50%	4.32B	+9.90%	44.18%	48.50%	39.59%	6.59B	+8.33%
FY2023	10.43B	-1.02%	3.93B	-0.41%	43.73%	46.96%	37.65%	6.09B	+0.38%
FY2022	10.54B	+10.09%	3.94B	+28.18%	40.69%	46.59%	37.42%	6.06B	+16.77%
FY2021	9.58B	+14.02%	3.08B	—	42.35%	41.69%	32.14%	5.19B	+240.30%

Period	Revenue	Net income	Gross margin	Operating margin	Net margin
Q3 FY2026	3.61B	1.16B	56.01%	40.94%	32.29%
Q2 FY2026	3.31B	1.09B	56.91%	41.61%	32.82%
Q1 FY2026	2.86B	912.00M	41.01%	35.77%	31.85%
Q4 FY2025	3.10B	1.19B	47.30%	42.88%	38.52%
Q3 FY2025	3.62B	1.55B	60.82%	49.77%	42.69%

How Mplx LP makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Revenue11.82B 100.0%

Cost of revenue6.47B 54.8%

Gross profit5.35B 45.2%

Selling and administration446.00M 3.8%

Other operating expenses137.00M 1.2%

Operating income4.76B 40.3%

Tax8.00M 0.1%

Net income4.91B 41.6%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Mplx LP revenue breakdown

By product

FY2025

65.7%Service30.0%Product4.3%Service, Other

Segment	Revenue	Share of revenue	Change on the year
Service	4.39B	65.7%	+5.1%
Product	2.00B	30.0%	+20.8%
Service, Other	289.00M	4.3%	-19.0%

Operating and free cash flow

Full cash flow statement

Operating cash flow Free cash flow

Fiscal year	Operating cash flow	Free cash flow
FY2025	5.91B	4.10B
FY2024	5.95B	4.89B
FY2023	5.40B	4.46B
FY2022	5.02B	4.21B
FY2021	4.91B	4.38B
FY2020	4.52B	3.34B
FY2019	4.08B	1.67B
FY2018	2.83B	907.00M
FY2017	1.91B	496.00M
FY2016	1.29B	82.00M

Mplx LP financial health

Full balance sheet

Cash and short-term investments: 1.30B USD
Total debt: 27.09B USD
Net cash: -25.79B USD
Free cash flow (TTM)What 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.: 3.11B USD
Current ratioWhat is the current ratio? The current ratio is current assets divided by current liabilities: whether what a company will turn into cash within a year covers what it owes within a year.: 1.56
Debt to equityWhat is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.: 1.93
Piotroski scoreWhat is the Piotroski F-Score? The Piotroski F-Score rates a company's financial strength from 0 to 9: one point for each of nine tests of profit, debt and efficiency it passes.: 6 / 9
Altman Z-scoreWhat is the Altman Z-Score? The Altman Z-Score rolls five financial ratios into one number that signals a company's risk of bankruptcy: over 3 is safe, under 1.8 is distress.: 1.88

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow

Fiscal year	Cash and short-term investments	Total debt	Free cash flow
FY2025	2.14B	26.16B	4.10B
FY2024	1.52B	21.44B	4.89B
FY2023	1.05B	20.91B	4.46B
FY2022	238.00M	20.30B	4.21B
FY2021	13.00M	19.07B	4.38B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity

Fiscal year	Total assets	Total liabilities	Shareholders' equity
FY2025	43.01B	28.48B	14.30B
FY2024	37.51B	23.50B	13.78B
FY2023	36.53B	22.95B	13.35B
FY2022	35.67B	22.15B	13.48B
FY2021	35.51B	22.49B	12.78B
FY2020	36.41B	22.43B	13.74B
FY2019	40.43B	22.85B	17.33B
FY2018	22.78B	14.91B	7.71B
FY2017	19.50B	8.53B	10.83B
FY2016	16.65B	5.33B	10.29B

Mplx LP valuation

Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.: 13.03
Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.: 13.05
Price to sales (TTM)What is the P/S ratio? The price-to-sales ratio compares a company's market value with its revenue over the last year: what you pay for each dollar of sales.: 4.40
Price to bookWhat is the P/B ratio? The price-to-book ratio compares a company's market value with its book value, the shareholders' equity on its balance sheet.: 4.03
EV / EBITDA (TTM)What is EV/EBITDA? EV/EBITDA compares a company's whole value, debt included and cash taken off, with a year of its earnings before interest, tax and depreciation.: 11.74

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Market capitalization

56.66B USD

Total debt

27.09B USD

−

Cash and short-term investments

1.30B USD

Enterprise value

82.46B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate

Fiscal year	P/E	Forward P/E	P/S	P/B	EV/EBITDA
FY2028 (est.)	10.88	—	—	—	—
FY2027 (est.)	11.66	10.88	—	—	—
FY2026 (est.)	13.05	11.66	—	—	—
Now (TTM)	13.03	11.84	4.40	4.03	11.74
FY2025	11.07	12.47	4.60	3.80	10.75
FY2024	11.37	10.31	4.46	3.53	10.39
FY2023	9.59	8.76	3.52	2.75	9.30
FY2022	8.76	8.88	3.15	2.46	8.78
FY2021	10.35	7.97	3.17	2.38	9.52

Mplx LP against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Cheniere Energy, Targa Resources, ONEOK, Kinder Morgan, Enterprise Products Partners L.P., and The Williams Companies, the US Oil & Gas Midstream companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

P/E (today)Above its median13.0
8.213.4
Gross marginHighest in 5 years45.2%
40.7%45.2%
Against its peers: 1 of 7Peers' median 27.7%
Operating marginLowest in 5 years40.3%
40.3%48.5%
Against its peers: 1 of 7Peers' median 23.9%
Net marginHighest in 5 years41.6%
32.1%41.6%
Against its peers: 1 of 7Peers' median 14.5%
Return on equityHighest in 5 years34.3%
24.1%34.3%
Against its peers: 3 of 7Peers' median 20.0%
Free cash flow marginLowest in 5 years34.7%
34.7%45.8%
Against its peers: 1 of 7Peers' median 7.8%
Revenue growthAt its median8.4%
-1.0%14.0%
Against its peers: 5 of 7Peers' median 13.1%
EPS growthAbove its median14.5%
1.9%31.1%
Against its peers: 5 of 7Peers' median 17.3%
Debt to EBITDAAbove its median3.59×
3.25×3.67×
Against its peers: 2 of 7Peers' median 3.79×
Current ratioHighest in 5 years1.23
0.451.23
Against its peers: 1 of 7Peers' median 0.69

Figure	FY2025	5-year low – high	Against its history	Against its peers
P/E (today)	13.0	8.213.4	Above its median	—
Gross margin	45.2%	40.7%45.2%	Highest in 5 years	1 of 7
Operating margin	40.3%	40.3%48.5%	Lowest in 5 years	1 of 7
Net margin	41.6%	32.1%41.6%	Highest in 5 years	1 of 7
Return on equity	34.3%	24.1%34.3%	Highest in 5 years	3 of 7
Free cash flow margin	34.7%	34.7%45.8%	Lowest in 5 years	1 of 7
Revenue growth	8.4%	-1.0%14.0%	At its median	5 of 7
EPS growth	14.5%	1.9%31.1%	Above its median	5 of 7
Debt to EBITDA	3.59×	3.25×3.67×	Above its median	2 of 7
Current ratio	1.23	0.451.23	Highest in 5 years	1 of 7

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Mplx LP dividends

Annual dividend: 4.84 USD
Dividend yield (indicated)What is dividend yield? Dividend yield is a year of dividends as a percentage of the share price: the income a shareholder receives for each dollar invested at today's price.: 8.67%
Payout ratioWhat is the payout ratio? The payout ratio is the share of a company's earnings paid out as dividends: dividends per share divided by earnings per share (EPS).: 103.51%
Years of dividend growthWhat are years of dividend growth? The years in a row a company has raised its dividend per share. 25 years make an S&P 500 company a Dividend Aristocrat; 50 make a Dividend King.: 5
Frequency: Quarterly
Next payment: 1.21 USD
Last ex-dividend dateWhat is the ex-dividend date? The ex-dividend date is the first day a stock trades without its next dividend: buy before it to receive the payment; buy on or after it and the seller gets it.: 6 Nov 2026
Next payment date: 13 Nov 2026

Dividends per share

Year	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Dividends per share	3.95	3.51	3.18	2.89	2.06	2.75	2.65	2.49	2.21	2.03

Mplx LP ownership

InstitutionsWhat is institutional ownership? Institutional ownership is the share of a company's stock held by funds, banks and other investment managers, as they report it each quarter on Form 13F.: 19.34%
Institutional holders: 651 (-7)
Free floatWhat is free float? Free float is the part of a company's shares that anyone can buy and sell: all its shares minus those held by insiders, founders and owners of over 5%.: 35.77%

Who owns the shares

Institutions 19.3% Others 80.7%

As of 30 Jun 2026

Shares free to trade

Free float 362.71M shares ·35.8% Closely held 651.15M shares ·64.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

Quarter	Shares acquired	Shares disposed of
Q4 2026	2.55K	0.00
Q3 2026	6.49K	0.00
Q2 2026	43.62K	0.00
Q1 2026	93.25K	23.72K

Shares outstanding

Basic shares Diluted shares Change in diluted shares

Fiscal year	Basic shares	Diluted shares	Change in diluted shares
FY2025	1.02B	1.02B	+0.20%
FY2024	1.02B	1.02B	+1.50%
FY2023	1.00B	1.00B	-0.79%
FY2022	1.01B	1.01B	-1.66%
FY2021	1.03B	1.03B	-2.28%

Common questions about Mplx LP's financials

Source: Financial Modeling Prep

Mplx LP
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Quotes are delayed by 15 minutes

MPLX

Mplx LP financials

Mplx LP earnings

Revenue

EPS

Mplx LP growth and profitability

Revenue / Net income

How Mplx LP makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Mplx LP revenue breakdown

By product

Operating and free cash flow

Mplx LP financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Mplx LP valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Mplx LP against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Mplx LP dividends

Dividends per share

Mplx LP ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Mplx LP's financials

Is Mplx LP profitable?

Is Mplx LP financially healthy?

Is Mplx LP growing?

Where can I find Mplx LP's annual report (10-K)?

Need help?

Mplx LP DQuotes are delayed by 15 minutes

MPLX

Mplx LP financials

Mplx LP earnings

Revenue

EPS

Mplx LP growth and profitability

Revenue / Net income

How Mplx LP makes its moneyWhat is an income statement? The income statement shows a company's revenue, costs and profit over a quarter or a year, from sales at the top to net income at the bottom.

Mplx LP revenue breakdown

By product

Operating and free cash flow

Mplx LP financial health

Cash, debt and free cash flow

Assets, liabilities and equity

Mplx LP valuation

Capital structureWhat is enterprise value? Enterprise value is what the whole business costs: the market value of its shares plus its debt minus its cash. It is the price behind EV/EBITDA.

Valuation over time

Mplx LP against its own historyWhat does "against its own history" show? The company's latest margins, return on equity, growth, debt and P/E against its own last 5 years: the low, the median and the high, and whether this year is better or worse than usual.

Mplx LP dividends

Dividends per share

Mplx LP ownership

Who owns the shares

Shares free to trade

Insider trading

Shares outstanding

Common questions about Mplx LP's financials

Is Mplx LP profitable?

Is Mplx LP financially healthy?

Is Mplx LP growing?

Where can I find Mplx LP's annual report (10-K)?

Need help?

Mplx LP
D
Quotes are delayed by 15 minutes