Marathon Petroleum Corporation stock research
FY2026 Q1
Marathon Petroleum (MPC) Gross Margin & Quarterly History
Explore Marathon Petroleum Corporation (MPC) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue increased compared to both the prior quarter and the same quarter last year, while gross profit was lower than the prior quarter but higher than a year ago. Cost of revenue rose relative to both periods, resulting in a gross margin that weakened from the prior quarter but improved from the same quarter last year.
- The gross margin improved compared to the same quarter last year, driven by a larger increase in revenue relative to the increase in cost of revenue. The margin weakened sequentially as cost of revenue grew faster than revenue.
- Compared to the prior quarter, revenue was higher but gross profit was lower, and cost of revenue was higher, leading to a weakened gross margin. Compared to the same quarter last year, revenue, gross profit, and cost of revenue were all higher, with gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
8.6%
Gross profit
$2.9B
Revenue
$34.2B
Cost of revenue
$31.3B
Quarter-over-quarter change
-2.8 pts
Year-over-year change
+1.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $33.8B | $3.8B | $30.0B | 11.2% |
| Sep 30, 2025 | $34.8B | $3.6B | $31.2B | 10.4% |
| Dec 31, 2025 | $32.6B | $3.7B | $28.9B | 11.4% |
| Mar 31, 2026 | $34.2B | $2.9B | $31.3B | 8.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-2.8 pts
Year-over-year change
Mar 31, 2025
+1.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved compared to the same quarter last year, driven by a larger increase in revenue relative to the increase in cost of revenue. The margin weakened sequentially as cost of revenue grew faster than revenue.
Compared to the prior quarter, revenue was higher but gross profit was lower, and cost of revenue was higher, leading to a weakened gross margin. Compared to the same quarter last year, revenue, gross profit, and cost of revenue were all higher, with gross margin improved.
Monitor the trajectory of cost of revenue relative to revenue, as its faster sequential growth drove the margin decline.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Marathon Petroleum Corporation (MPC) | 8.6% |