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Side-by-side financial comparison of Marathon Petroleum (MPC) and Target Corporation (TGT). Click either name above to swap in a different company.
Marathon Petroleum is the larger business by last-quarter revenue ($32.6B vs $25.3B, roughly 1.3× Target Corporation). Marathon Petroleum runs the higher net margin — 4.7% vs 2.7%, a 2.0% gap on every dollar of revenue. On growth, Target Corporation posted the faster year-over-year revenue change (-1.6% vs -1.7%). Marathon Petroleum produced more free cash flow last quarter ($1.9B vs $149.0M). Over the past eight quarters, Marathon Petroleum's revenue compounded faster (-0.2% CAGR vs -11.0%).
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.
Target Corporation, doing business as Target, is an American retail corporation headquartered in Minneapolis, Minnesota, United States. Target operates retail stores. It is the eighth-largest retailer in the United States and is a component of the S&P 500 Index.
MPC vs TGT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $25.3B |
| Net Profit | $1.5B | $689.0M |
| Gross Margin | 11.4% | 28.2% |
| Operating Margin | 8.3% | 3.8% |
| Net Margin | 4.7% | 2.7% |
| Revenue YoY | -1.7% | -1.6% |
| Net Profit YoY | 313.7% | -19.3% |
| EPS (diluted) | $4.99 | $1.51 |
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 | $25.3B | ||
| Q3 25 | $34.8B | $25.2B | ||
| Q2 25 | $33.8B | $23.8B | ||
| Q1 25 | $31.5B | $30.9B | ||
| Q4 24 | $33.1B | $25.7B | ||
| Q3 24 | $35.1B | $25.5B | ||
| Q2 24 | $37.9B | $24.5B | ||
| Q1 24 | $32.7B | $31.9B |
| Q4 25 | $1.5B | $689.0M | ||
| Q3 25 | $1.4B | $935.0M | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $-74.0M | $1.1B | ||
| Q4 24 | $371.0M | $854.0M | ||
| Q3 24 | $622.0M | $1.2B | ||
| Q2 24 | $1.5B | $942.0M | ||
| Q1 24 | $937.0M | $1.4B |
| Q4 25 | 11.4% | 28.2% | ||
| Q3 25 | 10.4% | 29.0% | ||
| Q2 25 | 11.2% | 28.2% | ||
| Q1 25 | 6.8% | 26.0% | ||
| Q4 24 | 7.8% | 28.4% | ||
| Q3 24 | 8.4% | 30.1% | ||
| Q2 24 | 10.5% | 28.9% | ||
| Q1 24 | 9.5% | 26.7% |
| Q4 25 | 8.3% | 3.8% | ||
| Q3 25 | 7.8% | 5.2% | ||
| Q2 25 | 6.5% | 6.2% | ||
| Q1 25 | 2.2% | 4.7% | ||
| Q4 24 | 3.4% | 4.6% | ||
| Q3 24 | 3.8% | 6.4% | ||
| Q2 24 | 6.7% | 5.3% | ||
| Q1 24 | 5.5% | 5.8% |
| Q4 25 | 4.7% | 2.7% | ||
| Q3 25 | 3.9% | 3.7% | ||
| Q2 25 | 3.6% | 4.3% | ||
| Q1 25 | -0.2% | 3.6% | ||
| Q4 24 | 1.1% | 3.3% | ||
| Q3 24 | 1.8% | 4.7% | ||
| Q2 24 | 4.0% | 3.8% | ||
| Q1 24 | 2.9% | 4.3% |
| Q4 25 | $4.99 | $1.51 | ||
| Q3 25 | $4.51 | $2.05 | ||
| Q2 25 | $3.96 | $2.27 | ||
| Q1 25 | $-0.24 | $2.41 | ||
| Q4 24 | $1.30 | $1.85 | ||
| Q3 24 | $1.87 | $2.57 | ||
| Q2 24 | $4.33 | $2.03 | ||
| Q1 24 | $2.58 | $2.99 |
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 | $3.8B |
| Total DebtLower is stronger | $30.5B | $15.4B |
| Stockholders' EquityBook value | $17.3B | $15.5B |
| Total Assets | $84.0B | $60.0B |
| Debt / EquityLower = less leverage | 1.76× | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7B | $3.8B | ||
| Q3 25 | $2.7B | $4.3B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $3.8B | $8.7B | ||
| Q4 24 | $3.2B | $3.4B | ||
| Q3 24 | $5.1B | $3.5B | ||
| Q2 24 | $8.5B | $3.6B | ||
| Q1 24 | $7.6B | $6.7B |
| Q4 25 | $30.5B | $15.4B | ||
| Q3 25 | $31.2B | $15.3B | ||
| Q2 25 | $26.8B | $14.3B | ||
| Q1 25 | $26.8B | $14.3B | ||
| Q4 24 | $24.4B | $14.3B | ||
| Q3 24 | $24.1B | $13.7B | ||
| Q2 24 | $24.0B | $13.5B | ||
| Q1 24 | $24.8B | $14.9B |
| Q4 25 | $17.3B | $15.5B | ||
| Q3 25 | $17.1B | $15.4B | ||
| Q2 25 | $16.6B | $14.9B | ||
| Q1 25 | $16.4B | $14.7B | ||
| Q4 24 | $17.7B | $14.5B | ||
| Q3 24 | $18.9B | $14.4B | ||
| Q2 24 | $21.3B | $13.8B | ||
| Q1 24 | $22.9B | $13.4B |
| Q4 25 | $84.0B | $60.0B | ||
| Q3 25 | $83.2B | $57.9B | ||
| Q2 25 | $78.5B | $56.2B | ||
| Q1 25 | $81.6B | $57.8B | ||
| Q4 24 | $78.9B | $58.5B | ||
| Q3 24 | $79.8B | $56.0B | ||
| Q2 24 | $85.2B | $55.1B | ||
| Q1 24 | $85.5B | $55.4B |
| Q4 25 | 1.76× | 0.99× | ||
| Q3 25 | 1.83× | 0.99× | ||
| Q2 25 | 1.61× | 0.96× | ||
| Q1 25 | 1.64× | 0.98× | ||
| Q4 24 | 1.38× | 0.99× | ||
| Q3 24 | 1.27× | 0.95× | ||
| Q2 24 | 1.13× | 0.97× | ||
| Q1 24 | 1.08× | 1.11× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $1.9B | $149.0M |
| FCF MarginFCF / Revenue | 5.8% | 0.6% |
| Capex IntensityCapex / Revenue | 3.6% | 3.9% |
| Cash ConversionOCF / Net Profit | 2.00× | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | $3.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | $1.1B | ||
| Q3 25 | $2.6B | $2.1B | ||
| Q2 25 | $2.6B | $275.0M | ||
| Q1 25 | $-64.0M | $3.3B | ||
| Q4 24 | $2.2B | $739.0M | ||
| Q3 24 | $1.7B | $2.2B | ||
| Q2 24 | $3.2B | $1.1B | ||
| Q1 24 | $1.5B | $3.3B |
| Q4 25 | $1.9B | $149.0M | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.9B | $-515.0M | ||
| Q1 25 | $-727.0M | $2.4B | ||
| Q4 24 | $1.4B | $84.0M | ||
| Q3 24 | $1.0B | $1.6B | ||
| Q2 24 | $2.8B | $427.0M | ||
| Q1 24 | $947.0M | $2.4B |
| Q4 25 | 5.8% | 0.6% | ||
| Q3 25 | 4.8% | 4.0% | ||
| Q2 25 | 5.8% | -2.2% | ||
| Q1 25 | -2.3% | 7.7% | ||
| Q4 24 | 4.2% | 0.3% | ||
| Q3 24 | 2.9% | 6.3% | ||
| Q2 24 | 7.3% | 1.7% | ||
| Q1 24 | 2.9% | 7.6% |
| Q4 25 | 3.6% | 3.9% | ||
| Q3 25 | 2.7% | 4.3% | ||
| Q2 25 | 2.1% | 3.3% | ||
| Q1 25 | 2.1% | 3.0% | ||
| Q4 24 | 2.4% | 2.6% | ||
| Q3 24 | 1.9% | 2.5% | ||
| Q2 24 | 1.3% | 2.7% | ||
| Q1 24 | 1.8% | 2.7% |
| Q4 25 | 2.00× | 1.64× | ||
| Q3 25 | 1.90× | 2.23× | ||
| Q2 25 | 2.17× | 0.27× | ||
| Q1 25 | — | 2.98× | ||
| Q4 24 | 5.95× | 0.87× | ||
| Q3 24 | 2.71× | 1.88× | ||
| Q2 24 | 2.14× | 1.17× | ||
| Q1 24 | 1.64× | 2.38× |
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% |
TGT
| Food And Beverage | $6.0B | 24% |
| Household Essentials | $4.5B | 18% |
| Home Furnishings And Decor | $3.9B | 15% |
| Apparel And Accessories | $3.8B | 15% |
| Beauty | $3.2B | 13% |
| Hardlines | $3.2B | 13% |
| Advertising Revenue | $241.0M | 1% |
| Other Other Revenue | $158.0M | 1% |
| Credit Card Profit Sharing | $119.0M | 0% |
| Other Product | $34.0M | 0% |
