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Side-by-side financial comparison of Marathon Petroleum (MPC) and PBF Energy Inc. (PBF). Click either name above to swap in a different company.
Marathon Petroleum is the larger business by last-quarter revenue ($32.6B vs $7.9B, roughly 4.1× PBF Energy Inc.). Marathon Petroleum runs the higher net margin — 4.7% vs 2.5%, a 2.2% gap on every dollar of revenue. On growth, PBF Energy Inc. posted the faster year-over-year revenue change (11.9% vs -1.7%). Over the past eight quarters, Marathon Petroleum's revenue compounded faster (-0.2% CAGR vs -4.9%).
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.
PBF Energy Inc. is a petroleum refining and logistics company that produces and sells transportation fuels, heating oils, lubricants, petrochemical feedstocks, and other petroleum products. The company owns and operated 6 refineries throughout the United States, located in Chalmette, Louisiana; Toledo, Ohio; Paulsboro, New Jersey; the Delaware City Refinery in Delaware City; Torrance, California; Martinez, California. PBF produces a range of products including gasoline, ultra-low-sulfur diese...
MPC vs PBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $7.9B |
| Net Profit | $1.5B | $200.2M |
| Gross Margin | 11.4% | 3.5% |
| Operating Margin | 8.3% | 3.8% |
| Net Margin | 4.7% | 2.5% |
| Revenue YoY | -1.7% | 11.9% |
| Net Profit YoY | 313.7% | 149.4% |
| EPS (diluted) | $4.99 | $1.65 |
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 | — | $7.9B | ||
| Q4 25 | $32.6B | $7.1B | ||
| Q3 25 | $34.8B | $7.7B | ||
| Q2 25 | $33.8B | $7.5B | ||
| Q1 25 | $31.5B | $7.1B | ||
| Q4 24 | $33.1B | $7.4B | ||
| Q3 24 | $35.1B | $8.4B | ||
| Q2 24 | $37.9B | $8.7B |
| Q1 26 | — | $200.2M | ||
| Q4 25 | $1.5B | $78.4M | ||
| Q3 25 | $1.4B | $170.1M | ||
| Q2 25 | $1.2B | $-5.2M | ||
| Q1 25 | $-74.0M | $-401.8M | ||
| Q4 24 | $371.0M | $-289.3M | ||
| Q3 24 | $622.0M | $-285.9M | ||
| Q2 24 | $1.5B | $-65.2M |
| Q1 26 | — | 3.5% | ||
| Q4 25 | 11.4% | -1.8% | ||
| Q3 25 | 10.4% | 0.5% | ||
| Q2 25 | 11.2% | -0.8% | ||
| Q1 25 | 6.8% | -5.9% | ||
| Q4 24 | 7.8% | -4.2% | ||
| Q3 24 | 8.4% | -3.4% | ||
| Q2 24 | 10.5% | 0.1% |
| Q1 26 | — | 3.8% | ||
| Q4 25 | 8.3% | 1.8% | ||
| Q3 25 | 7.8% | 3.7% | ||
| Q2 25 | 6.5% | 0.6% | ||
| Q1 25 | 2.2% | -7.2% | ||
| Q4 24 | 3.4% | -5.2% | ||
| Q3 24 | 3.8% | -4.6% | ||
| Q2 24 | 6.7% | -0.9% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 4.7% | 1.1% | ||
| Q3 25 | 3.9% | 2.2% | ||
| Q2 25 | 3.6% | -0.1% | ||
| Q1 25 | -0.2% | -5.7% | ||
| Q4 24 | 1.1% | -3.9% | ||
| Q3 24 | 1.8% | -3.4% | ||
| Q2 24 | 4.0% | -0.7% |
| Q1 26 | — | $1.65 | ||
| Q4 25 | $4.99 | $0.74 | ||
| Q3 25 | $4.51 | $1.45 | ||
| Q2 25 | $3.96 | $-0.05 | ||
| Q1 25 | $-0.24 | $-3.53 | ||
| Q4 24 | $1.30 | $-2.41 | ||
| Q3 24 | $1.87 | $-2.49 | ||
| Q2 24 | $4.33 | $-0.56 |
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 | $541.8M |
| Total DebtLower is stronger | $30.5B | — |
| Stockholders' EquityBook value | $17.3B | $5.7B |
| Total Assets | $84.0B | $14.7B |
| Debt / EquityLower = less leverage | 1.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $541.8M | ||
| Q4 25 | $3.7B | $527.9M | ||
| Q3 25 | $2.7B | $482.0M | ||
| Q2 25 | $1.7B | $590.7M | ||
| Q1 25 | $3.8B | $468.6M | ||
| Q4 24 | $3.2B | $536.1M | ||
| Q3 24 | $5.1B | $976.7M | ||
| Q2 24 | $8.5B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $30.5B | — | ||
| Q3 25 | $31.2B | — | ||
| Q2 25 | $26.8B | — | ||
| Q1 25 | $26.8B | — | ||
| Q4 24 | $24.4B | — | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.0B | — |
| Q1 26 | — | $5.7B | ||
| Q4 25 | $17.3B | $5.3B | ||
| Q3 25 | $17.1B | $5.2B | ||
| Q2 25 | $16.6B | $5.1B | ||
| Q1 25 | $16.4B | $5.1B | ||
| Q4 24 | $17.7B | $5.5B | ||
| Q3 24 | $18.9B | $5.9B | ||
| Q2 24 | $21.3B | $6.3B |
| Q1 26 | — | $14.7B | ||
| Q4 25 | $84.0B | $13.0B | ||
| Q3 25 | $83.2B | $13.0B | ||
| Q2 25 | $78.5B | $13.0B | ||
| Q1 25 | $81.6B | $13.0B | ||
| Q4 24 | $78.9B | $12.7B | ||
| Q3 24 | $79.8B | $13.1B | ||
| Q2 24 | $85.2B | $14.1B |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.38× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.13× | — |
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 | — |
| Free Cash FlowOCF − Capex | $1.9B | — |
| FCF MarginFCF / Revenue | 5.8% | — |
| Capex IntensityCapex / Revenue | 3.6% | 4.0% |
| Cash ConversionOCF / Net Profit | 2.00× | — |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $366.6M | ||
| Q3 25 | $2.6B | $25.7M | ||
| Q2 25 | $2.6B | $191.1M | ||
| Q1 25 | $-64.0M | $-661.4M | ||
| Q4 24 | $2.2B | $-329.7M | ||
| Q3 24 | $1.7B | $-68.0M | ||
| Q2 24 | $3.2B | $425.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $77.0M | ||
| Q3 25 | $1.7B | $-122.8M | ||
| Q2 25 | $1.9B | $35.0M | ||
| Q1 25 | $-727.0M | $-772.4M | ||
| Q4 24 | $1.4B | $-425.7M | ||
| Q3 24 | $1.0B | $-169.8M | ||
| Q2 24 | $2.8B | $371.8M |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | 1.1% | ||
| Q3 25 | 4.8% | -1.6% | ||
| Q2 25 | 5.8% | 0.5% | ||
| Q1 25 | -2.3% | -10.9% | ||
| Q4 24 | 4.2% | -5.8% | ||
| Q3 24 | 2.9% | -2.0% | ||
| Q2 24 | 7.3% | 4.3% |
| Q1 26 | — | 4.0% | ||
| Q4 25 | 3.6% | 4.1% | ||
| Q3 25 | 2.7% | 1.9% | ||
| Q2 25 | 2.1% | 2.1% | ||
| Q1 25 | 2.1% | 1.6% | ||
| Q4 24 | 2.4% | 1.3% | ||
| Q3 24 | 1.9% | 1.2% | ||
| Q2 24 | 1.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.00× | 4.68× | ||
| Q3 25 | 1.90× | 0.15× | ||
| Q2 25 | 2.17× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.95× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | — |
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% |
PBF
Segment breakdown not available.
