GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » MPLX LP (NYSE:MPLX) » Definitions » Gross Margin %

MPLX LP (MPLX LP) Gross Margin % : 45.31% (As of Dec. 2023)


View and export this data going back to 2012. Start your Free Trial

What is MPLX LP Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. MPLX LP's Gross Profit for the three months ended in Dec. 2023 was $1,212 Mil. MPLX LP's Revenue for the three months ended in Dec. 2023 was $2,675 Mil. Therefore, MPLX LP's Gross Margin % for the quarter that ended in Dec. 2023 was 45.31%.


The historical rank and industry rank for MPLX LP's Gross Margin % or its related term are showing as below:

MPLX' s Gross Margin % Range Over the Past 10 Years
Min: 35.49   Med: 42.03   Max: 44.59
Current: 43.73


During the past 13 years, the highest Gross Margin % of MPLX LP was 44.59%. The lowest was 35.49%. And the median was 42.03%.

MPLX's Gross Margin % is ranked better than
68.22% of 925 companies
in the Oil & Gas industry
Industry Median: 27.82 vs MPLX: 43.73

MPLX LP had a gross margin of 45.31% for the quarter that ended in Dec. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for MPLX LP was 0.20% per year.


MPLX LP Gross Margin % Historical Data

The historical data trend for MPLX LP's Gross Margin % 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 Gross Margin % Chart

MPLX LP Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Gross Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 42.47 44.59 42.35 40.69 43.73

MPLX LP Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Gross Margin % 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 40.14 45.15 43.99 40.60 45.31

Competitive Comparison of MPLX LP's Gross Margin %

For the Oil & Gas Midstream subindustry, MPLX LP's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


MPLX LP's Gross Margin % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, MPLX LP's Gross Margin % distribution charts can be found below:

* The bar in red indicates where MPLX LP's Gross Margin % falls into.



MPLX LP Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

MPLX LP's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )=Gross Profit (A: Dec. 2023 ) / Revenue (A: Dec. 2023 )
=4563 / 10434
=(Revenue - Cost of Goods Sold) / Revenue
=(10434 - 5871) / 10434
=43.73 %

MPLX LP's Gross Margin for the quarter that ended in Dec. 2023 is calculated as


Gross Margin % (Q: Dec. 2023 )=Gross Profit (Q: Dec. 2023 ) / Revenue (Q: Dec. 2023 )
=1212 / 2675
=(Revenue - Cost of Goods Sold) / Revenue
=(2675 - 1463) / 2675
=45.31 %

* 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.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.


MPLX LP  (NYSE:MPLX) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

MPLX LP had a gross margin of 45.31% for the quarter that ended in Dec. 2023 => Durable competitive advantage


Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.


MPLX LP Gross Margin % Related Terms

Thank you for viewing the detailed overview of MPLX LP's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.


MPLX LP (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 July 2019.
Executives
Christine S Breves director 600 GRANT STREET, SUITE 6100, PITTSBURGH PA 16059
Shawn M Lyon officer: Senior VP, Log. & Storage C/O MPLX, 200 E HARDIN STREET, FINDLAY OH 45840
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
Gary R Heminger director, officer: Chief Executive Officer C/O MARATHON PETROLEUM CORPORATION, 539 S. MAIN STREET, FINDLAY OH 45840
Dan D Sandman director
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
Tesoro Refining & Marketing Co Llc other: Less than 10% owner 539 SOUTH MAIN STREET, FINDLAY OH 45840-3229

MPLX LP (MPLX LP) Headlines

From GuruFocus

MPLX LP Announces Quarterly Distribution

By PRNewswire PRNewswire 07-26-2022

MPLX LP's Dividend Analysis

By GuruFocus Research 11-01-2023

MPLX LP prices $1.5 billion senior notes offering

By PRNewswire PRNewswire 03-10-2022

MPLX LP Announces Quarterly Distribution

By PRNewswire PRNewswire 04-25-2023

MPLX LP announces redemption of senior notes

By PRNewswire PRNewswire 08-15-2022

MPLX LP Increases Quarterly Distribution

By PRNewswire PRNewswire 11-01-2022

MPLX LP files 2022 Form 10-K

By PRNewswire PRNewswire 02-23-2023

MPLX LP 2021 K-1 tax packages now available on company website

By PRNewswire PRNewswire 03-16-2022