Mplx (MPLX) Gross Margin (2011 - 2026)
Mplx's (MPLX) quarterly Gross Margin came in at 83.61% in Q1 2026, down 58.0% year-on-year from 199.07% in Q1 2025, and down 91.51% sequentially from 985.0% in Q4 2025.
Mplx (MPLX) Gross Margin (2011 - 2026) Analysis & Trends
Mplx's Gross Margin history runs 16 years deep, the most recent figure standing at 83.61% for Q1 2026.
- In Q1 2026, Gross Margin fell 58.0% year-over-year to 83.61%; the TTM figure through Mar 2026 stood at 82.91% (down 147.0% YoY), while the FY2025 annual figure was 83.95%, up 93.0% from the prior year.
- Gross Margin came in at 83.61% for Q1 2026 at Mplx, down from 985.0% in the prior quarter.
- Over five years, Gross Margin peaked at 985.0% in Q4 2025 and troughed at 1014.81% in Q4 2022.
- The 5-year median for Gross Margin is 84.02% (2022), against an average of 72.64%.
- The widest annual swing landed in 2022, when Gross Margin plunged 109435 bps; it then soared 109862 bps in 2023.
- A 5-year view of Gross Margin shows it stood at 1014.81% in 2022, then soared by 108 bps to 83.8% in 2023, then slipped by 0 bps to 83.41% in 2024, then soared by 1081 bps to 985.0% in 2025, then plunged by 92 bps to 83.61% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 83.61% in Q1 2026, 985.0% in Q4 2025, and 86.38% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 41.12% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 63.77% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | - |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 23.85% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 41.52% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 83.61% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 26.67% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 23.28% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 94.13% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 7.83% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 83.61% |
| Dec 31, 2025 | 985.00% |
| Sep 30, 2025 | 86.38% |
| Jun 30, 2025 | 84.34% |
| Mar 31, 2025 | 84.19% |
| Dec 31, 2024 | 83.41% |
| Sep 30, 2024 | 86.41% |
| Jun 30, 2024 | 82.97% |
| Mar 31, 2024 | 82.92% |
| Dec 31, 2023 | 83.80% |
| Sep 30, 2023 | 79.24% |
| Jun 30, 2023 | 87.06% |
| Mar 31, 2023 | 80.91% |
| Dec 31, 2022 | -1,014.81% |
| Sep 30, 2022 | 84.02% |
| Jun 30, 2022 | 86.44% |
| Mar 31, 2022 | 89.00% |
| Dec 31, 2021 | 79.53% |
| Sep 30, 2021 | 88.35% |
| Jun 30, 2021 | 87.77% |