Mplx (MPLX) Operating Margin (2011 - 2026)
Mplx's (MPLX) quarterly Operating Margin came in at 39.96% in Q1 2026, down 1557.0% year-on-year from 2.74% in Q1 2025, and up 100.54% sequentially from 7415.0% in Q4 2025.
Mplx (MPLX) Operating Margin (2011 - 2026) Analysis & Trends
Mplx's Operating Margin history runs 16 years deep, the most recent figure standing at 39.96% for Q1 2026.
- In Q1 2026, Operating Margin fell 1557.0% year-over-year to 39.96%; the TTM figure through Mar 2026 stood at 64.39% (up 1092.0% YoY), while the FY2025 annual figure was 61.1%, up 356.0% from the prior year.
- Operating Margin came in at 39.96% for Q1 2026 at Mplx, up from 7415.0% in the prior quarter.
- Over five years, Operating Margin peaked at 72.12% in Q3 2022 and troughed at 7415.0% in Q4 2025.
- The 5-year median for Operating Margin is 50.55% (2023), against an average of 620.62%.
- The widest annual swing landed in 2023, when Operating Margin soared 398712 bps; it then tumbled 747056 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 3925.93% in 2022, then surged by 102 bps to 61.19% in 2023, then decreased by 9 bps to 55.56% in 2024, then tumbled by 13445 bps to 7415.0% in 2025, then soared by 101 bps to 39.96% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 39.96% in Q1 2026, 7415.0% in Q4 2025, and 49.77% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 1,308.38 Bn | 1,309.08 Bn | 6.70 Bn | 14.43% |
| 2 | Kinder Morgan | 112.34 Bn | 113.42 Bn | 3.08 Bn | 29.91% |
| 3 | Enterprise Products Partners | 79.55 Bn | 78.40 Bn | - | 13.17% |
| 4 | Energy Transfer | 65.78 Bn | 65.07 Bn | 6.62 Bn | 10.74% |
| 5 | Targa Resources | 57.60 Bn | 57.63 Bn | 1.70 Bn | 20.68% |
| 6 | Mplx | 57.17 Bn | 55.67 Bn | 2.54 Bn | 39.96% |
| 7 | Oneok | 54.83 Bn | 54.70 Bn | 2.57 Bn | 14.85% |
| 8 | Cheniere Energy Partners | 29.50 Bn | 29.22 Bn | 838.00 Mn | 10.03% |
| 9 | Venture Global | 27.41 Bn | 27.36 Bn | 4.33 Bn | 25.03% |
| 10 | Plains All American Pipeline | 15.72 Bn | 15.54 Bn | 977.00 Mn | 3.25% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 39.96% |
| Dec 31, 2025 | -7,415.00% |
| Sep 30, 2025 | 49.77% |
| Jun 30, 2025 | 54.88% |
| Mar 31, 2025 | 55.53% |
| Dec 31, 2024 | 55.56% |
| Sep 30, 2024 | 42.90% |
| Jun 30, 2024 | 62.93% |
| Mar 31, 2024 | 57.60% |
| Dec 31, 2023 | 61.19% |
| Sep 30, 2023 | 50.55% |
| Jun 30, 2023 | 43.68% |
| Mar 31, 2023 | 56.23% |
| Dec 31, 2022 | -3,925.93% |
| Sep 30, 2022 | 72.12% |
| Jun 30, 2022 | 46.89% |
| Mar 31, 2022 | 40.61% |
| Dec 31, 2021 | -150.96% |
| Sep 30, 2021 | 28.64% |
| Jun 30, 2021 | 26.64% |