Mplx (MPLX) Operating Margin (2011 - 2026)
Mplx (MPLX) posted Operating Margin of 40.94% for Q3 2026, down 8.82 percentage points from 49.77% a year earlier and down 0.66 percentage points from the prior quarter.
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Analysis
Mplx (MPLX) Operating Margin (2011 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Operating Margin at Mplx was 42.03%, down 3.27 percentage points year-over-year; for FY2025, it was 45.72%, up 1.41 percentage points from FY2024.
- Annual Operating Margin has increased for six consecutive years, with a five-year change of +42.93 percentage points (FY2020 to FY2025).
- In prior years, Mplx's Operating Margin was 44.31% in FY2024 (+0.88 pp), 43.44% in FY2023 (+1.15 pp), 42.29% in FY2022 (+2.48 pp) and 39.81% in FY2021 (+37.02 pp).
- Quarterly Operating Margin has run from a low of 6.80% in Q4 2021 to a high of 49.77% in Q3 2025 over five years.
- On a year-over-year basis, Operating Margin has declined in each of the last three quarters, with an average year-over-year change of -1.45 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Operating Margin in the past five years was Q3 2022, with a gain of 37.03 percentage points; the weakest was Q4 2021, with a drop of 12.54 percentage points.
- According to Business Quant data, Operating Margin for the three prior quarters was 41.61% (Q2 2026), 39.96% (Q1 2026) and 45.60% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 103.93 Bn | 99.53 Bn | 4.84 Bn | 9.93% |
| 2 | Williams Companies | 82.08 Bn | 79.11 Bn | 2.59 Bn | 35.25% |
| 3 | Enterprise Products Partners | 79.97 Bn | 78.33 Bn | - | 11.09% |
| 4 | Kinder Morgan | 68.25 Bn | 67.10 Bn | 2.97 Bn | 25.60% |
| 5 | Tc Energy | 65.66 Bn | 62.42 Bn | - | - |
| 6 | Energy Transfer | 65.65 Bn | 61.48 Bn | 6.57 Bn | 7.50% |
| 7 | Cheniere Energy | 59.17 Bn | 53.31 Bn | 2.97 Bn | 31.02% |
| 8 | Targa Resources | 58.63 Bn | 58.09 Bn | 2.02 Bn | 19.58% |
| 9 | Mplx | 57.30 Bn | 51.33 Bn | 3.19 Bn | 40.94% |
| 10 | Oneok | 54.56 Bn | 53.96 Bn | 2.84 Bn | 12.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 40.94% |
| Jun 30, 2026 | 41.61% |
| Mar 31, 2026 | 39.96% |
| Dec 31, 2025 | 45.60% |
| Sep 30, 2025 | 49.77% |
| Jun 30, 2025 | 43.06% |
| Mar 31, 2025 | 43.73% |
| Dec 31, 2024 | 43.85% |
| Sep 30, 2024 | 42.90% |
| Jun 30, 2024 | 46.49% |
| Mar 31, 2024 | 43.96% |
| Dec 31, 2023 | 46.36% |
| Sep 30, 2023 | 39.63% |
| Jun 30, 2023 | 43.68% |
| Mar 31, 2023 | 44.08% |
| Dec 31, 2022 | 39.82% |
| Sep 30, 2022 | 49.22% |
| Jun 30, 2022 | 37.99% |
| Mar 31, 2022 | 40.61% |
| Dec 31, 2021 | 6.80% |
API Access
Mplx Operating Margin 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-margin&ticker=MPLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=MPLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();