vs
Side-by-side financial comparison of Marathon Petroleum (MPC) and Micron Technology (MU). Click either name above to swap in a different company.
Marathon Petroleum is the larger business by last-quarter revenue ($32.6B vs $23.9B, roughly 1.4× Micron Technology). Micron Technology runs the higher net margin — 57.8% vs 4.7%, a 53.1% gap on every dollar of revenue. On growth, Micron Technology posted the faster year-over-year revenue change (196.3% vs -1.7%). Micron Technology produced more free cash flow last quarter ($5.5B vs $1.9B). Over the past eight quarters, Micron Technology's revenue compounded faster (87.2% CAGR vs -0.2%).
Marathon Petroleum Corporation is an American petroleum refining, marketing, and transportation company headquartered in Findlay, Ohio. The company was a wholly owned subsidiary of Marathon Oil until a corporate spin-off in 2011.
Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and solid-state drives (SSDs). It is headquartered in Boise, Idaho.
MPC vs MU — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $23.9B |
| Net Profit | $1.5B | $13.8B |
| Gross Margin | 11.4% | 74.4% |
| Operating Margin | 8.3% | 67.6% |
| Net Margin | 4.7% | 57.8% |
| Revenue YoY | -1.7% | 196.3% |
| Net Profit YoY | 313.7% | 770.8% |
| EPS (diluted) | $4.99 | $12.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $23.9B | ||
| Q4 25 | $32.6B | $13.6B | ||
| Q3 25 | $34.8B | $11.3B | ||
| Q2 25 | $33.8B | $9.3B | ||
| Q1 25 | $31.5B | $8.1B | ||
| Q4 24 | $33.1B | $8.7B | ||
| Q3 24 | $35.1B | $7.8B | ||
| Q2 24 | $37.9B | $6.8B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $1.5B | $5.2B | ||
| Q3 25 | $1.4B | $3.2B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $-74.0M | $1.6B | ||
| Q4 24 | $371.0M | $1.9B | ||
| Q3 24 | $622.0M | — | ||
| Q2 24 | $1.5B | $332.0M |
| Q1 26 | — | 74.4% | ||
| Q4 25 | 11.4% | 56.0% | ||
| Q3 25 | 10.4% | 44.7% | ||
| Q2 25 | 11.2% | 37.7% | ||
| Q1 25 | 6.8% | 36.8% | ||
| Q4 24 | 7.8% | 38.4% | ||
| Q3 24 | 8.4% | 35.3% | ||
| Q2 24 | 10.5% | 26.9% |
| Q1 26 | — | 67.6% | ||
| Q4 25 | 8.3% | 45.0% | ||
| Q3 25 | 7.8% | 32.3% | ||
| Q2 25 | 6.5% | 23.3% | ||
| Q1 25 | 2.2% | 22.0% | ||
| Q4 24 | 3.4% | 25.0% | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 6.7% | 10.6% |
| Q1 26 | — | 57.8% | ||
| Q4 25 | 4.7% | 38.4% | ||
| Q3 25 | 3.9% | 28.3% | ||
| Q2 25 | 3.6% | 20.3% | ||
| Q1 25 | -0.2% | 19.7% | ||
| Q4 24 | 1.1% | 21.5% | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 4.0% | 4.9% |
| Q1 26 | — | $12.07 | ||
| Q4 25 | $4.99 | $4.60 | ||
| Q3 25 | $4.51 | $2.83 | ||
| Q2 25 | $3.96 | $1.68 | ||
| Q1 25 | $-0.24 | $1.41 | ||
| Q4 24 | $1.30 | $1.67 | ||
| Q3 24 | $1.87 | — | ||
| Q2 24 | $4.33 | $0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7B | $13.9B |
| Total DebtLower is stronger | $30.5B | $9.6B |
| Stockholders' EquityBook value | $17.3B | $72.5B |
| Total Assets | $84.0B | $101.5B |
| Debt / EquityLower = less leverage | 1.76× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $13.9B | ||
| Q4 25 | $3.7B | $9.7B | ||
| Q3 25 | $2.7B | $9.6B | ||
| Q2 25 | $1.7B | $10.2B | ||
| Q1 25 | $3.8B | $7.6B | ||
| Q4 24 | $3.2B | $6.7B | ||
| Q3 24 | $5.1B | $7.0B | ||
| Q2 24 | $8.5B | $7.6B |
| Q1 26 | — | $9.6B | ||
| Q4 25 | $30.5B | $11.2B | ||
| Q3 25 | $31.2B | $14.0B | ||
| Q2 25 | $26.8B | $15.0B | ||
| Q1 25 | $26.8B | $13.9B | ||
| Q4 24 | $24.4B | $13.3B | ||
| Q3 24 | $24.1B | $13.0B | ||
| Q2 24 | $24.0B | $12.9B |
| Q1 26 | — | $72.5B | ||
| Q4 25 | $17.3B | $58.8B | ||
| Q3 25 | $17.1B | $54.2B | ||
| Q2 25 | $16.6B | $50.7B | ||
| Q1 25 | $16.4B | $48.6B | ||
| Q4 24 | $17.7B | $46.8B | ||
| Q3 24 | $18.9B | $45.1B | ||
| Q2 24 | $21.3B | $44.2B |
| Q1 26 | — | $101.5B | ||
| Q4 25 | $84.0B | $86.0B | ||
| Q3 25 | $83.2B | $82.8B | ||
| Q2 25 | $78.5B | $78.4B | ||
| Q1 25 | $81.6B | $73.1B | ||
| Q4 24 | $78.9B | $71.5B | ||
| Q3 24 | $79.8B | $69.4B | ||
| Q2 24 | $85.2B | $66.3B |
| Q1 26 | — | 0.13× | ||
| Q4 25 | 1.76× | 0.19× | ||
| Q3 25 | 1.83× | 0.26× | ||
| Q2 25 | 1.61× | 0.30× | ||
| Q1 25 | 1.64× | 0.28× | ||
| Q4 24 | 1.38× | 0.28× | ||
| Q3 24 | 1.27× | 0.29× | ||
| Q2 24 | 1.13× | 0.29× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.1B | $11.9B |
| Free Cash FlowOCF − Capex | $1.9B | $5.5B |
| FCF MarginFCF / Revenue | 5.8% | 23.1% |
| Capex IntensityCapex / Revenue | 3.6% | 26.8% |
| Cash ConversionOCF / Net Profit | 2.00× | 0.86× |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $11.9B | ||
| Q4 25 | $3.1B | $8.4B | ||
| Q3 25 | $2.6B | $17.5B | ||
| Q2 25 | $2.6B | $4.6B | ||
| Q1 25 | $-64.0M | $3.9B | ||
| Q4 24 | $2.2B | $3.2B | ||
| Q3 24 | $1.7B | $8.5B | ||
| Q2 24 | $3.2B | $2.5B |
| Q1 26 | — | $5.5B | ||
| Q4 25 | $1.9B | $3.0B | ||
| Q3 25 | $1.7B | $1.7B | ||
| Q2 25 | $1.9B | $1.7B | ||
| Q1 25 | $-727.0M | $-113.0M | ||
| Q4 24 | $1.4B | $38.0M | ||
| Q3 24 | $1.0B | $121.0M | ||
| Q2 24 | $2.8B | $396.0M |
| Q1 26 | — | 23.1% | ||
| Q4 25 | 5.8% | 22.2% | ||
| Q3 25 | 4.8% | 14.7% | ||
| Q2 25 | 5.8% | 18.0% | ||
| Q1 25 | -2.3% | -1.4% | ||
| Q4 24 | 4.2% | 0.4% | ||
| Q3 24 | 2.9% | 1.6% | ||
| Q2 24 | 7.3% | 5.8% |
| Q1 26 | — | 26.8% | ||
| Q4 25 | 3.6% | 39.5% | ||
| Q3 25 | 2.7% | 140.1% | ||
| Q2 25 | 2.1% | 31.6% | ||
| Q1 25 | 2.1% | 50.4% | ||
| Q4 24 | 2.4% | 36.8% | ||
| Q3 24 | 1.9% | 108.2% | ||
| Q2 24 | 1.3% | 30.6% |
| Q1 26 | — | 0.86× | ||
| Q4 25 | 2.00× | 1.61× | ||
| Q3 25 | 1.90× | 5.47× | ||
| Q2 25 | 2.17× | 2.45× | ||
| Q1 25 | — | 2.49× | ||
| Q4 24 | 5.95× | 1.73× | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | 7.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MPC
| Refined Products | $28.6B | 88% |
| Midstream | $1.4B | 4% |
| Crude Oil | $1.2B | 4% |
| Renewable Diesel | $851.0M | 3% |
| Related Party | $536.0M | 2% |
| Services & Other | $466.0M | 1% |
MU
| CMBU | $7.7B | 32% |
| MCBU | $7.7B | 32% |
| CDBU | $5.7B | 24% |
| AEBU | $2.7B | 11% |
| Other Product Sales | $95.0M | 0% |
