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Side-by-side financial comparison of Marathon Petroleum (MPC) and PETROBRAS - PETROLEO BRASILEIRO SA (PBR). Click either name above to swap in a different company.
Marathon Petroleum is the larger business by last-quarter revenue ($32.6B vs $21.0B, roughly 1.5× PETROBRAS - PETROLEO BRASILEIRO SA). PETROBRAS - PETROLEO BRASILEIRO SA runs the higher net margin — 22.6% vs 4.7%, a 17.9% gap on every dollar of revenue. On growth, Marathon Petroleum posted the faster year-over-year revenue change (-1.7% vs -10.4%).
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.
Petróleo Brasileiro S.A., better known by and trading as the portmanteau Petrobras, is a Brazilian majority state-owned multinational corporation in the petroleum industry, which is headquartered in Rio de Janeiro. The company's name translates to Brazilian Petroleum Corporation.
MPC vs PBR — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $21.0B |
| Net Profit | $1.5B | $4.8B |
| Gross Margin | 11.4% | 47.6% |
| Operating Margin | 8.3% | 25.4% |
| Net Margin | 4.7% | 22.6% |
| Revenue YoY | -1.7% | -10.4% |
| Net Profit YoY | 313.7% | 1563.7% |
| EPS (diluted) | $4.99 | $0.37 |
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.
| Q4 25 | $32.6B | — | ||
| Q3 25 | $34.8B | — | ||
| Q2 25 | $33.8B | $21.0B | ||
| Q1 25 | $31.5B | — | ||
| Q4 24 | $33.1B | — | ||
| Q3 24 | $35.1B | — | ||
| Q2 24 | $37.9B | $23.5B | ||
| Q1 24 | $32.7B | — |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.2B | $4.8B | ||
| Q1 25 | $-74.0M | — | ||
| Q4 24 | $371.0M | — | ||
| Q3 24 | $622.0M | — | ||
| Q2 24 | $1.5B | $-325.0M | ||
| Q1 24 | $937.0M | — |
| Q4 25 | 11.4% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 11.2% | 47.6% | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 10.5% | 50.0% | ||
| Q1 24 | 9.5% | — |
| Q4 25 | 8.3% | — | ||
| Q3 25 | 7.8% | — | ||
| Q2 25 | 6.5% | 25.4% | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.8% | — | ||
| Q2 24 | 6.7% | 28.6% | ||
| Q1 24 | 5.5% | — |
| Q4 25 | 4.7% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 3.6% | 22.6% | ||
| Q1 25 | -0.2% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.8% | — | ||
| Q2 24 | 4.0% | -1.4% | ||
| Q1 24 | 2.9% | — |
| Q4 25 | $4.99 | — | ||
| Q3 25 | $4.51 | — | ||
| Q2 25 | $3.96 | $0.37 | ||
| Q1 25 | $-0.24 | — | ||
| Q4 24 | $1.30 | — | ||
| Q3 24 | $1.87 | — | ||
| Q2 24 | $4.33 | $-0.03 | ||
| Q1 24 | $2.58 | — |
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 | $7.0B |
| Total DebtLower is stronger | $30.5B | — |
| Stockholders' EquityBook value | $17.3B | $73.6B |
| Total Assets | $84.0B | $215.3B |
| Debt / EquityLower = less leverage | 1.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | — | ||
| Q3 25 | $2.7B | — | ||
| Q2 25 | $1.7B | $7.0B | ||
| Q1 25 | $3.8B | — | ||
| Q4 24 | $3.2B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $8.5B | $7.9B | ||
| Q1 24 | $7.6B | — |
| 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 24 | $24.8B | — |
| Q4 25 | $17.3B | — | ||
| Q3 25 | $17.1B | — | ||
| Q2 25 | $16.6B | $73.6B | ||
| Q1 25 | $16.4B | — | ||
| Q4 24 | $17.7B | — | ||
| Q3 24 | $18.9B | — | ||
| Q2 24 | $21.3B | $67.6B | ||
| Q1 24 | $22.9B | — |
| Q4 25 | $84.0B | — | ||
| Q3 25 | $83.2B | — | ||
| Q2 25 | $78.5B | $215.3B | ||
| Q1 25 | $81.6B | — | ||
| Q4 24 | $78.9B | — | ||
| Q3 24 | $79.8B | — | ||
| Q2 24 | $85.2B | $190.4B | ||
| Q1 24 | $85.5B | — |
| 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× | — | ||
| Q1 24 | 1.08× | — |
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% | — |
| Cash ConversionOCF / Net Profit | 2.00× | — |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $-64.0M | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | $1.9B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $-727.0M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $947.0M | — |
| Q4 25 | 5.8% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | -2.3% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 7.3% | — | ||
| Q1 24 | 2.9% | — |
| Q4 25 | 3.6% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 2.1% | — | ||
| Q4 24 | 2.4% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | 2.00× | — | ||
| Q3 25 | 1.90× | — | ||
| Q2 25 | 2.17× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.95× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 2.14× | — | ||
| Q1 24 | 1.64× | — |
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% |
PBR
Segment breakdown not available.
