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MPLX LPMPLX +1.12%83 Net Margin % is 34.94% as of Jun. 2026, which is 17% above its 10-year median of 29.74. GuruFocus rates MPLX with a GF Score™ of 83/100 and a GF Value™ of $54.21 (Fairly Valued). The stock has 7 warning signs investors should review. Among 929 Oil & Gas companies, MPLX LP ranks better than 92.79% on this metric.
Net margin is calculated as Net Income divided by its Revenue. MPLX LP's Net Income for the
three
months ended in Jun. 2026 was $1,077 Mil. MPLX LP's Revenue for the
three
months ended in Jun. 2026 was $3,082 Mil. Therefore, MPLX LP's net margin for the quarter that ended in Jun. 2026 was 34.94%.
The historical rank and industry rank for MPLX LP's Net Margin % or its related term are showing as below:
MPLX'
s Net Margin % Range Over the Past 10 Years
Min: -8.57 Med: 29.74 Max: 42.81
Current: 40.45
MPLX's Net Margin % is ranked better than 92.79% of 929
companies
in the Oil & Gas industry
Industry Median: 4.3
vs MPLX: 40.45
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
MPLX LP Net Margin % Related Terms
MPLX LP Net Margin % Historical Data
* Premium members only.
The historical data trend for MPLX LP's Net 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.
For the Oil & Gas Midstream subindustry, MPLX LP's Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, MPLX LP's Net Margin % distribution charts can be found below:
* The bar in red indicates where MPLX LP's Net Margin % falls into.
* 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 (MPLX) has a Net Margin % of 34.94% as of Jun. 2026. Net margin is the ratio of total net income to net sales. View historical data on MPLX LP and its competitors. This is 17% above median its historical median of 29.74. According to the industry distribution chart, MPLX LP ranks #67 out of 929 companies in the Oil & Gas industry, placing it in the top 7.2%.
Is MPLX LP's Net Margin % too high?
MPLX LP's current Net Margin % of 34.94% is 17% above median its 10-year median of 29.74. The Oil & Gas industry median Net Margin % is 4.30. MPLX LP's value of 34.94% is 712.6% above this industry median. Based on the distribution chart, MPLX LP ranks #67 out of 929 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, MPLX LP has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MPLX LP's Net Margin % compare to OKE and TRGP?
According to the Oil & Gas industry distribution chart, MPLX LP ranks #67 out of 929 companies for Net Margin %. This places MPLX LP in the top 7% of its industry — outperforming the majority of peers. The industry median Net Margin % is 4.30. MPLX LP's value of 34.94% is 712.6% above this benchmark. While the company's 10-year median is 29.74 vs. the industry median of 4.30, MPLX LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 4.30, based on 929 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. MPLX LP's current Net Margin % of 34.94% is 712.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on MPLX LP and its competitors. For the Oil & Gas industry, the median Net Margin % is 4.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MPLX LP's current Net Margin % is 34.94%, which is 17% above median its own 10-year median of 29.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MPLX LP stock overvalued right now?
Based on GuruFocus' analysis, MPLX LP (MPLX) is currently considered Fairly Valued. The stock's GF Value™ is $54.21, compared to a current price of $59.48 — trading 9.7% above its estimated fair value. The current Net Margin % is 34.94%, which is 17% above median its 10-year median of 29.74 and 712.6% above the Oil & Gas industry median of 4.30. MPLX LP's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For MPLX LP (MPLX), the current Net Margin % is 34.94% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is MPLX LP (MPLX) Overvalued in 2026?
Based on GuruFocus' analysis, MPLX LP stock appears to be overvalued.
The current stock price of $59.48 is trading 9.7% above its estimated GF Value™ of $54.21.
GuruFocus considers MPLX LP to be Fairly Valued.
Key valuation signals for MPLX:
Net Margin %: 34.94% (17% above median its 10-year median of 29.74)
GF Value™: $54.21 vs. price of $59.48 (9.7% above fair value)
Industry Position: 712.6% above the Oil & Gas median (#67 of 929)
No single metric tells the full story. See the MPLX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
MPLX is a partnership that owns pipelines and gathering and processing assets with extensive holdings in the Appalachian and Permian regions. The asset base is made up of crude oil and refined products assets dropped down from Marathon Petroleum, its sponsor, and natural gas and natural gas liquids gathering and processing assets that were purchased or built.
83GF Score
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