Marathon Petroleum (MPC) Operating Expenses (2010 - 2026)
Marathon Petroleum's Operating Expenses came in at $45.02 billion for Q2 2026, up 41.1% from $31.9 billion a year earlier and up 35.7% from the prior quarter.
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Analysis
Marathon Petroleum (MPC) Operating Expenses (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Marathon Petroleum reported Operating Expenses of $142.04 billion, up 9.8% year-over-year; for FY2025, it came in at $126.93 billion, down 5.0% from FY2024.
- Operating Expenses has declined in each of the last three years, though with a five-year compound annual growth rate of 9.3% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $133.62 billion in FY2024 (-1.6%), $135.79 billion in FY2023 (-14.3%), $158.48 billion in FY2022 (+35.9%) and $116.63 billion in FY2021 (+43.5%).
- The Q2 2026 figure represents the highest quarterly Operating Expenses since Q2 2022.
- Year-over-year, Operating Expenses increased in two of the last eight quarters, with growth averaging 1.8%.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2021 (growth of 90.1%), and the weakest in Q2 2023 (a decline of 27.0%).
- Business Quant data shows MPC's Operating Expenses at $33.16 billion (Q1 2026), $30.73 billion (Q4 2025) and $33.14 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marathon Petroleum | 125.20 Bn | 108.95 Bn | 9.27 Bn | 45.02 Bn |
| 2 | Valero Energy | 109.03 Bn | 80.89 Bn | 9.41 Bn | 308.00 Mn |
| 3 | HF Sinclair | 19.74 Bn | 12.02 Bn | 3.15 Bn | 8.19 Bn |
| 4 | Sunoco | 9.45 Bn | 3.83 Bn | 1.46 Bn | 13.68 Bn |
| 5 | PBF Energy | 8.92 Bn | 8.92 Bn | - | 10.03 Bn |
| 6 | Ultrapar Holdings | 6.08 Bn | -1.15 Bn | 912.61 Mn | 124.47 Mn |
| 7 | Cvr Energy | 5.64 Bn | 3.21 Bn | 117.00 Mn | 52.00 Mn |
| 8 | Delek US Holdings | 4.32 Bn | 1.81 Bn | 365.10 Mn | 3.78 Bn |
| 9 | Bw Lpg | 3.57 Bn | 2.55 Bn | - | 101.47 Mn |
| 10 | Par Pacific Holdings | 3.49 Bn | 2.81 Bn | 852.68 Mn | 2.33 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 45.02 Bn |
| Mar 31, 2026 | 33.16 Bn |
| Dec 31, 2025 | 30.73 Bn |
| Sep 30, 2025 | 33.14 Bn |
| Jun 30, 2025 | 31.90 Bn |
| Mar 31, 2025 | 31.16 Bn |
| Dec 31, 2024 | 32.33 Bn |
| Sep 30, 2024 | 34.02 Bn |
| Jun 30, 2024 | 35.84 Bn |
| Mar 31, 2024 | 31.43 Bn |
| Dec 31, 2023 | 34.43 Bn |
| Sep 30, 2023 | 36.83 Bn |
| Jun 30, 2023 | 33.52 Bn |
| Mar 31, 2023 | 31.02 Bn |
| Dec 31, 2022 | 35.35 Bn |
| Sep 30, 2022 | 40.55 Bn |
| Jun 30, 2022 | 45.91 Bn |
| Mar 31, 2022 | 36.67 Bn |
| Dec 31, 2021 | 33.83 Bn |
| Sep 30, 2021 | 31.27 Bn |
API Access
Marathon Petroleum Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MPC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MPC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MPC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();