PBA vs MPC vs TRGP Stock Comparison

Pembina Pipeline, Marathon Petroleum and Targa Resources Prices as of Oct 26, 2026 Peers: Industry group
PBA Pembina Pipeline Corp
$50.33 +12.7% 1M +32.3% 1Y
Market cap
$29.04B
P/E
18.4x
Revenue (TTM)
$7.84B
Div. yield
–
Oil and Gas Pipelines Energy
2 wins
MPC Marathon Petroleum Corp
$470.49 +19.6% 1M +139.8% 1Y
Market cap
$125.80B
P/E
14.7x
Revenue (TTM)
$156.18B
Div. yield
0.01%
Oil Refining Energy
9 wins
TRGP Targa Resources Corp.
$304.61 +9.6% 1M +98.1% 1Y
Market cap
$64.85B
P/E
28.6x
Revenue (TTM)
$16.74B
Div. yield
–
Oil and Gas Pipelines Energy

Head to Head

11 decided of 12

Marathon Petroleum leads on 9 of the 12 questions below (Marathon Petroleum 9, Pembina Pipeline 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionPBAMPCTRGPLeader
Larger companyMarket capitalisation $29.04B $125.80B $64.85B MPC
Cheaper on earningsLower P/E, profitable companies only 18.4x 14.7x 28.6x MPC
Cheaper on forward earningsLower price / next fiscal year consensus EPS 21.6x 6.9x 28.7x MPC
Faster revenue growthRevenue growth, trailing twelve months +0.9% +15.9% -2.0% MPC
More profitableNet margin, trailing twelve months 20.1% 5.5% 13.5% PBA
Better return on capitalReturn on invested capital 8.3% 19.7% 13.2% MPC
Less leveragedLower net debt / EBITDA 3.1x 1.5x 3.5x MPC
Higher dividend yieldTrailing dividend yield 0.00% 0.01% 0.00% –
Better 1-year returnPrice return, last 12 months +32.3% +139.8% +98.1% MPC
Better 5-year returnAnnualised price return, 5 years +8.7%/yr +48.1%/yr +40.9%/yr MPC
Less volatileAnnualised volatility, 1 year 20.3% 36.1% 28.5% PBA
Higher overall scoreMean of the five percentile scores vs peers 57/100 60/100 41/100 MPC

Percentile Scorecard

PBAMPCTRGP

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisPBAMPCTRGP
Valuation 79 #8 of 35 27 #17 of 23 15 #30 of 35
Growth 21 #27 of 34 67 #7 of 19 79 #8 of 34
Profitability 55 #16 of 34 94 #2 of 18 70 #11 of 34
Financial Health 88 #5 of 35 57 #11 of 24 27 #26 of 35
Shareholder Returns 40 #19 of 31 53 #9 of 18 17 #26 of 31
Overall 57 60 41
  • PBA ranked among 35 companies in Oil and Gas Midstream
  • MPC ranked among 25 companies in Refining and Marketing
  • TRGP ranked among 35 companies in Oil and Gas Midstream

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodPBAMPCTRGPSPY
1 month +12.7%+19.6%+9.6% -0.8%
3 months +0.8%+50.6%+13.8% +3.5%
6 months +16.1%+107.1%+26.2% +7.0%
Year to date +32.2%+189.3%+65.1% +12.2%
1 year +32.3%+139.8%+98.1% +13.0%
3 years +65.4%+222.3%+261.0% +86.3%
3 years, per year +18.3%+47.7%+53.4% +23.1%
5 years +51.6%+611.2%+455.7% +68.6%
5 years, per year +8.7%+48.1%+40.9% +11.0%
10 years +61.8%+963.0%+551.4% +258.0%
10 years, per year +4.9%+26.7%+20.6% +13.6%

Risk

MeasurePBAMPCTRGPSPY
Volatility, 1Y 20.3%36.1%28.5% 12.7%
Downside volatility, 1Y 20.9%34.7%26.3% 12.7%
Beta vs S&P 500, 1Y -0.23-0.24-0.34 1.00
Return / volatility, 1Y 1.593.873.44 1.02
Max drawdown, 5Y -32.6%-45.9%-32.6% -25.4%
From 52-week high -2.0%-3.0%0.0% -1.8%
52-week high $51.38$485.05$304.61 $779.14
52-week low $36.52$162.63$151.38 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultiplePBAMPCTRGP
P/E now vs peer median 18.5xmedian 21.0x 15.9xmedian 9.5x 28.8xmedian 21.0x
P/S now vs peer median 3.7xmedian 2.7x 0.8xmedian 0.3x 3.9xmedian 2.7x
EV/EBITDA now vs peer median 10.8xmedian 11.0x 9.0xmedian 7.3x 15.4xmedian 11.0x
P/FCF now vs peer median 8.4xmedian 16.6x 10.2xmedian 9.5x 88.2xmedian 16.6x
P/B now vs peer median 1.7xmedian 2.6x 5.1xmedian 1.9x 17.2xmedian 2.6x
PEG now vs peer median —median 1.92 -15.47median 0.35 0.70median 1.92

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsPBAMPCTRGP
Revenue $7.84B $156.18B $16.74B
Gross profit $3.30B $21.79B $7.23B
Operating income $2.83B $14.13B $3.84B
Net income $1.71B $10.31B $2.30B
Free cash flow $3.49B $12.90B $740.90M
EPS (diluted) $2.71 $29.50 $10.54
Cash & equivalents $153.00M $7.77B $132.30M
Total debt $12.08B $33.26B $19.58B
Shares (diluted) 582.00M 290.00M 215.20M
Enterprise value $28.48B $109.56B $64.33B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricPBAMPCTRGP
P/E 18.5x 15.9x 28.8x
P/FCF 8.4x 10.2x 88.2x
P/Operating cash flow 10.1x 7.7x 15.2x
P/S 3.7x 0.8x 3.9x
P/B 1.7x 5.1x 17.2x
P/Tangible book 1.7x 5.7x 38.6x
EV/EBITDA 10.8x 9.0x 15.4x
EV/EBIT 14.6x 11.2x 22.1x
EV/Revenue 5.3x 1.0x 5.1x
EV/FCF 11.8x 12.2x 114.4x
EV/Operating cash flow 14.2x 9.2x 19.8x
PEG (3Y EPS CAGR) – -15.47 0.70

Growth

14 metrics
MetricPBAMPCTRGP
Revenue growth (1Y) 0.9% 15.9% -2.0%
Revenue CAGR (3Y) – -0.6% -2.1%
Gross profit growth (1Y) 0.9% 71.5% 18.6%
Gross profit CAGR (3Y) – -5.4% 12.2%
Operating income growth (1Y) 27.9% 163.0% 27.6%
Operating income CAGR (3Y) – -9.1% 15.8%
Net income growth (1Y) -3.9% 174.5% 29.5%
Net income CAGR (3Y) – -10.4% 12.5%
EPS growth (1Y) -3.0% 324.1% 49.2%
EPS CAGR (3Y) – -1.0% 41.3%
Operating cash flow growth (1Y) -16.0% 164.9% 16.4%
Operating cash flow CAGR (3Y) – 4.8% 14.6%
Free cash flow growth (1Y) -14.7% 253.7% 73.3%
Free cash flow CAGR (3Y) – 1.0% -4.7%

Profitability

14 metrics
MetricPBAMPCTRGP
Gross margin 42.1% 14.0% 43.2%
EBITDA margin 48.5% 11.2% 32.9%
Operating margin 36.1% 9.0% 22.9%
Pretax margin 28.2% 8.2% 17.5%
Net margin 20.1% 5.5% 13.5%
FCF margin 44.5% 8.3% 4.4%
Operating cash flow margin 37.0% 11.0% 25.6%
Return on equity 10.1% 42.0% 65.2%
Return on assets 4.7% 11.3% 8.3%
Return on invested capital 8.3% 19.7% 13.2%
Return on capital employed – 22.1% 15.7%
Asset turnover 0.2x 1.7x 0.6x
Cash conversion (OCF / net income) 1.7x 1.7x 1.9x
Stock comp / revenue 1.4% – 0.5%

Financial Health

11 metrics
MetricPBAMPCTRGP
Debt / assets 33.3% 35.3% 68.7%
Debt / equity 0.7x 1.3x 5.2x
Net debt / EBITDA 3.1x 1.5x 3.5x
Debt / FCF 3.5x 2.6x 26.4x
Liabilities / assets 52.9% 72.7% 86.7%
Equity / assets 47.1% 27.3% 13.3%
Interest coverage 4.6x 10.4x –
Current ratio – 1.3x 0.8x
Quick ratio – 0.9x 0.6x
Cash ratio – 0.3x 0.0x
Altman Z-score – 4.06 2.73

Shareholder Returns

7 metrics
MetricPBAMPCTRGP
Dividend yield 5.7% 0.9% 1.5%
Net buyback yield -0.7% 3.7% 0.5%
Shareholder yield 5.0% 4.6% 2.0%
Payout ratio (earnings) – 11.3% –
Payout ratio (FCF) – 9.0% –
Dividend growth (1Y) – 2.8% –
Dividend CAGR (3Y) – -3.4% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusPBAMPCTRGP
Forward P/E 21.6xFY2026 6.9xFY2026 28.7xFY2026
EPS, next fiscal year $2.33FY2026 $68.44FY2026 $10.62FY2026
EPS growth, next FY +20.1%FY2026 +539.6%FY2026 +24.4%FY2026
EPS growth, the year after +0.4% -13.2% +24.8%
Revenue, next fiscal year $6.58BFY2026 $192.95BFY2026 $19.51BFY2026
Revenue growth, next FY +16.3%FY2026 +42.7%FY2026 +14.6%FY2026
Revenue growth, the year after -6.2% -9.3% +14.9%
PBA estimates →MPC estimates →TRGP estimates →

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersPBAMPCTRGP
Held by institutions – 75.7% 93.5%
Institutions holding – 1,930 1,085
Change in shares held, QoQ – -0.3% +2.9%
Institutions buying – 855 558
Institutions selling – 699 353
Buyers to sellers – 1.22 1.58
PBA holders →MPC holders →TRGP holders →

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

PBAMPCTRGP
PBA 1.00 0.42 0.63
MPC 0.42 1.00 0.43
TRGP 0.63 0.43 1.00

Add a Peer

Largest companies in the same industry
PBA · Oil and Gas Pipelines
+ENBEnbridge +WMBWilliams Companies +EPDEnterprise Products Partners +KMIKinder Morgan +ETEnergy Transfer +TRPTc Energy +OKEOneok +MPLXMplx
Plot all 22 Oil and Gas Pipelines stocks → Plot all 7 Oil Refining stocks →

Related Comparisons

PBA vs ENBEnbridge PBA vs WMBWilliams Companies PBA vs EPDEnterprise Products Partners PBA vs KMIKinder Morgan

Frequently Asked Questions

Which is bigger, PBA, MPC and TRGP?

Marathon Petroleum (MPC) is the largest by market capitalisation: Pembina Pipeline (PBA) $29.04B, Marathon Petroleum (MPC) $125.80B, Targa Resources (TRGP) $64.85B.

Which stock is cheaper, PBA, MPC and TRGP?

Marathon Petroleum (MPC) trades on the lowest price-to-earnings ratio (Pembina Pipeline (PBA) 18.4x, Marathon Petroleum (MPC) 14.7x, Targa Resources (TRGP) 28.6x). On next year's consensus earnings, Marathon Petroleum (MPC) is cheapest (Pembina Pipeline (PBA) 21.6x, Marathon Petroleum (MPC) 6.9x, Targa Resources (TRGP) 28.7x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Marathon Petroleum (MPC) grew revenue fastest over the trailing twelve months: Pembina Pipeline (PBA) +0.9%, Marathon Petroleum (MPC) +15.9%, Targa Resources (TRGP) -2.0%.

Which company is more profitable?

Pembina Pipeline (PBA) has the highest net margin (Pembina Pipeline (PBA) 20.1%, Marathon Petroleum (MPC) 5.5%, Targa Resources (TRGP) 13.5%). On return on invested capital, Marathon Petroleum (MPC) leads (Pembina Pipeline (PBA) 8.3%, Marathon Petroleum (MPC) 19.7%, Targa Resources (TRGP) 13.2%).

Which stock has performed better?

Over the past year Marathon Petroleum (MPC) returned the most: Pembina Pipeline (PBA) +32.3%, Marathon Petroleum (MPC) +139.8%, Targa Resources (TRGP) +98.1%. Over five years, Marathon Petroleum (MPC) compounded fastest (Pembina Pipeline (PBA) +8.7%/yr, Marathon Petroleum (MPC) +48.1%/yr, Targa Resources (TRGP) +40.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Pembina Pipeline (PBA) 0.00%, Marathon Petroleum (MPC) 0.01%, Targa Resources (TRGP) 0.00%. Pembina Pipeline (PBA) and Targa Resources (TRGP) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Pembina Pipeline (PBA) has been the steadiest (Pembina Pipeline (PBA) 20.3%, Marathon Petroleum (MPC) 36.1%, Targa Resources (TRGP) 28.5%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, PBA, MPC and TRGP?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Marathon Petroleum (MPC) leads on 9. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.