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MPLX (MPLX LP) Operating Income : $4,572 Mil (TTM As of Mar. 2025)


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What is MPLX LP Operating Income?

MPLX LP's Operating Income for the three months ended in Mar. 2025 was $1,180 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was $4,572 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. MPLX LP's Operating Income for the three months ended in Mar. 2025 was $1,180 Mil. MPLX LP's Revenue for the three months ended in Mar. 2025 was $2,887 Mil. Therefore, MPLX LP's Operating Margin % for the quarter that ended in Mar. 2025 was 40.87%.

Good Sign:

MPLX LP operating margin is expanding. Margin expansion is usually a good sign.

MPLX LP's 5-Year average Growth Rate for Operating Margin % was 1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MPLX LP's annualized ROC % for the quarter that ended in Mar. 2025 was 12.73%. MPLX LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 27.92%.


MPLX LP Operating Income Historical Data

The historical data trend for MPLX LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

MPLX LP Operating Income Chart

MPLX LP Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,349.00 3,713.00 4,435.00 4,300.00 4,486.00

MPLX LP Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,094.00 1,094.00 1,126.00 1,172.00 1,180.00

MPLX LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,572 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


MPLX LP  (NYSE:MPLX) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

MPLX LP's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=4720 * ( 1 - 0.09% )/( (36288 + 37792)/ 2 )
=4715.752/37040
=12.73 %

where

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

MPLX LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=5488/( ( (19653 + max(-563, 0)) + (19657 + max(-34, 0)) )/ 2 )
=5488/( ( 19653 + 19657 )/ 2 )
=5488/19655
=27.92 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(718 + 180 + 34) - (1182 + 106 + 207)
=-563

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(858 + 186 + 54) - (828 + 109 + 195)
=-34

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

MPLX LP's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=1180/2887
=40.87 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


MPLX LP Operating Income Related Terms

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MPLX LP Business Description

Traded in Other Exchanges
Address
200 East Hardin Street, Findlay, OH, USA, 45840-3229
MPLX is a partnership that owns both pipelines and gathering and processing assets with extensive holdings in the Appalachian region. The asset base is made up of pipeline assets dropped down from Marathon Petroleum, its sponsor, and gathering and processing assets from MarkWest, which it acquired in 2015. MPLX also acquired Andeavor Logistics in 2019.
Executives
Shawn M Lyon officer: Senior VP, Log. & Storage C/O MPLX, 200 E HARDIN STREET, FINDLAY OH 45840
Carl Kristopher Hagedorn officer: VP and Controller C/O CONE MIDSTREAM PARTNERS LP, 1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317
Christine S Breves director 600 GRANT STREET, SUITE 6100, PITTSBURGH PA 16059
Gregory Scott Floerke officer: Exec VP and CCO C/O MARKWEST ENERGY PARTNERS, L.P., 1515 ARAPAHOE STREET, TOWER 1, SUITE 160, DENVER CO 80202
Frank M Semple director, officer: Vice Chairman 1515 ARAPAHOE ST., TOWER 2, SUITE 700, DENVER CO 80202
Kelly D Wright officer: VP and Controller C/O MPLX LP, 200 E HARDIN STREET, FINDLAY OH 45840
John J Quaid officer: Exec VP and CFO C/O MARATHON PETROLEUM CORPORATION, 539 SOUTH MAIN STREET, FINDLAY OH 45840
Maryann T. Mannen director C/O MARATHON PETROLEUM CORPORATION, 539 SOUTH MAIN ST, FINDLAY OH 45840
Ttc Holdings Llc 10 percent owner 539 SOUTH MAIN STREET, FINDLAY OH 45840
Timothy J Aydt officer: Chief Comm. Ofc.,Exec. VP C/O MPLX LP, 200 E. HARDIN STREET, FINDLAY OH 45840
Garry L. Peiffer director, officer: President C/O MARATHON PETROLEUM CORPORATION, 539 S. MAIN STREET, FINDLAY OH 45840
Dan D Sandman director
Gary R Heminger director, officer: Chief Executive Officer C/O MARATHON PETROLEUM CORPORATION, 539 S. MAIN STREET, FINDLAY OH 45840
Tesoro Logistics Gp, Llc other: Less than 10% owner 200 E. HARDIN STREET, FINDLAY OH 45840
Western Refining, Inc. 10 percent owner 539 SOUTH MAIN STREET, FINDLAY OH 45840-3229