Mplx (MPLX) Operating Expenses (2011 - 2026)
Mplx (MPLX) recorded Operating Expenses of $1.93 billion in Q2 2026, up 13.1% from $1.71 billion a year earlier and up 6.0% from the prior quarter.
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Analysis
Mplx (MPLX) Operating Expenses (2011 - 2026) Analysis & Trends
On a TTM basis, Mplx's Operating Expenses came in at $7.35 billion as of Jun 30, 2026, up 6.7% year-over-year; for FY2025, it was $7.06 billion, up 6.2% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of -0.8% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $6.65 billion in FY2024 (+4.1%), $6.38 billion in FY2023 (-4.8%), $6.7 billion in FY2022 (+11.1%) and $6.04 billion in FY2021 (-18.0%).
- The Q2 2026 figure is the highest quarterly Operating Expenses since Q1 2020.
- On a year-over-year basis, Operating Expenses has increased for seven consecutive quarters, with growth averaging 5.8% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 26.3% in Q4 2021, against a decline of 16.9% in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $1.82 billion (Q1 2026), $1.77 billion (Q4 2025) and $1.82 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 19.09 Bn |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 16.13 Bn |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 30.76 Bn |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 3.13 Bn |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | -1.06 Bn |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 354.10 Mn |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 1.93 Bn |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 4.00 Mn |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 1.44 Bn |
| 10 | Venture Global | 32.11 Bn | 26.66 Bn | 2.92 Bn | 2.39 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.93 Bn |
| Mar 31, 2026 | 1.82 Bn |
| Dec 31, 2025 | 1.77 Bn |
| Sep 30, 2025 | 1.82 Bn |
| Jun 30, 2025 | 1.71 Bn |
| Mar 31, 2025 | 1.76 Bn |
| Dec 31, 2024 | 1.72 Bn |
| Sep 30, 2024 | 1.70 Bn |
| Jun 30, 2024 | 1.63 Bn |
| Mar 31, 2024 | 1.60 Bn |
| Dec 31, 2023 | 1.59 Bn |
| Sep 30, 2023 | 1.76 Bn |
| Jun 30, 2023 | 1.52 Bn |
| Mar 31, 2023 | 1.52 Bn |
| Dec 31, 2022 | 1.60 Bn |
| Sep 30, 2022 | 1.73 Bn |
| Jun 30, 2022 | 1.82 Bn |
| Mar 31, 2022 | 1.55 Bn |
| Dec 31, 2021 | 1.68 Bn |
| Sep 30, 2021 | 1.53 Bn |
API Access
Mplx 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=MPLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MPLX", "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=MPLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();