Marathon Petroleum (MPC) 10-K Summary — Year Ended Dec 31, 2024
Marathon Petroleum's annual filing reports a decline in revenue and net income for the period. Operating cash flow also decreased, and the company's cash balance fell from the prior year.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Marathon Petroleum's annual filing reports a decline in revenue and net income for the period. Operating cash flow also decreased, and the company's cash balance fell from the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$138.9B
Revenue reported for the fiscal year.
Operating income
$6.8B
Income from operations reported for the year.
Net income
$3.4B
Net income reported for the year.
Operating cash flow
$8.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $120B | n/a |
| Dec 31, 2022 | $177.5B | +47.9% |
| Dec 31, 2023 | $148.4B | -16.4% |
| Dec 31, 2024 | $138.9B | -6.4% |
Business overview
The filing does not include a narrative business description in the provided sections. The company is identified as Marathon Petroleum Corporation, and the filing primarily covers financial results, risk factors, and liquidity.
Financial performance
Revenue declined compared to the prior year, extending a downward trend. Operating cash flow also decreased significantly, driven by lower operating results that were partially offset by favorable working capital changes.
Material risks
The filing references Risk Factors in Item 1A, but the supplied excerpt does not contain detailed descriptions. The liquidity discussion notes that changes in energy commodity prices and volumes affected working capital, implying market price risk.
Liquidity and capital
The company's cash position decreased as operating cash flow declined and significant cash was used in financing activities. Investing activities provided cash in the most recent period, contrasting with a use of cash in the prior year.
What to watch
Monitor whether operating cash flow continues to decline as energy commodity prices and volumes change.