Marathon Petroleum Corporation stock research
FY2025 Q2
Marathon Petroleum (MPC) Gross Margin — Quarter Ended Jun 30, 2025
Revenue increased from the prior quarter, while cost of revenue rose at a slower pace, leading to a higher gross profit and an improved gross margin. Compared to the same quarter last year, revenue was lower but gross profit was slightly higher, resulting in a gross margin that strengthened.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue increased from the prior quarter, while cost of revenue rose at a slower pace, leading to a higher gross profit and an improved gross margin. Compared to the same quarter last year, revenue was lower but gross profit was slightly higher, resulting in a gross margin that strengthened.
- The gross margin improved sequentially from the prior quarter, driven by a larger increase in revenue relative to the increase in cost of revenue. The year-over-year comparison shows a similar pattern, with revenue declining less than the decline in cost of revenue.
- Compared to the immediately preceding quarter, revenue, gross profit, and gross margin all moved higher. Versus the same quarter one year earlier, revenue was lower but gross profit was slightly higher, and gross margin improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
11.2%
Gross profit
$3.8B
Revenue
$33.8B
Cost of revenue
$30.0B
Quarter-over-quarter change
+4.3 pts
Year-over-year change
+0.7 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 |
|---|---|---|---|---|
| Sep 30, 2024 | $35.1B | $3.0B | $32.1B | 8.4% |
| Dec 31, 2024 | $33.1B | $2.6B | $30.6B | 7.8% |
| Mar 31, 2025 | $31.5B | $2.2B | $29.4B | 6.8% |
| Jun 30, 2025 | $33.8B | $3.8B | $30.0B | 11.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+4.3 pts
Year-over-year change
Jun 30, 2024
+0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improved sequentially from the prior quarter, driven by a larger increase in revenue relative to the increase in cost of revenue. The year-over-year comparison shows a similar pattern, with revenue declining less than the decline in cost of revenue.
Compared to the immediately preceding quarter, revenue, gross profit, and gross margin all moved higher. Versus the same quarter one year earlier, revenue was lower but gross profit was slightly higher, and gross margin improved.
Monitor the relationship between revenue and cost of revenue changes, as the current quarter's margin improvement relied on cost growth lagging revenue growth.