vs
Side-by-side financial comparison of Marathon Petroleum (MPC) and T-Mobile US (TMUS). Click either name above to swap in a different company.
Marathon Petroleum is the larger business by last-quarter revenue ($32.6B vs $23.1B, roughly 1.4× T-Mobile US). T-Mobile US runs the higher net margin — 10.8% vs 4.7%, a 6.1% gap on every dollar of revenue. On growth, T-Mobile US posted the faster year-over-year revenue change (10.6% vs -1.7%). T-Mobile US produced more free cash flow last quarter ($4.6B vs $1.9B). Over the past eight quarters, T-Mobile US's revenue compounded faster (8.1% 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.
T-Mobile US, Inc. is an American wireless network operator headquartered in Bellevue, Washington. Its majority shareholder and namesake is the German telecommunications company Deutsche Telekom. T-Mobile is the second largest wireless carrier in the United States, with 140 million subscribers as of September 30, 2025.
MPC vs TMUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $23.1B |
| Net Profit | $1.5B | $2.5B |
| Gross Margin | 11.4% | — |
| Operating Margin | 8.3% | 20.8% |
| Net Margin | 4.7% | 10.8% |
| Revenue YoY | -1.7% | 10.6% |
| Net Profit YoY | 313.7% | -15.2% |
| EPS (diluted) | $4.99 | $2.27 |
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 | — | $23.1B | ||
| Q4 25 | $32.6B | $24.3B | ||
| Q3 25 | $34.8B | $22.0B | ||
| Q2 25 | $33.8B | $21.1B | ||
| Q1 25 | $31.5B | $20.9B | ||
| Q4 24 | $33.1B | $21.9B | ||
| Q3 24 | $35.1B | $20.2B | ||
| Q2 24 | $37.9B | $19.8B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | $1.5B | $2.1B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $1.2B | $3.2B | ||
| Q1 25 | $-74.0M | $3.0B | ||
| Q4 24 | $371.0M | $3.0B | ||
| Q3 24 | $622.0M | $3.1B | ||
| Q2 24 | $1.5B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | 11.4% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | 6.8% | — | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | 10.5% | — |
| Q1 26 | — | 20.8% | ||
| Q4 25 | 8.3% | 15.4% | ||
| Q3 25 | 7.8% | 20.6% | ||
| Q2 25 | 6.5% | 24.7% | ||
| Q1 25 | 2.2% | 23.0% | ||
| Q4 24 | 3.4% | 21.0% | ||
| Q3 24 | 3.8% | 23.8% | ||
| Q2 24 | 6.7% | 23.4% |
| Q1 26 | — | 10.8% | ||
| Q4 25 | 4.7% | 8.6% | ||
| Q3 25 | 3.9% | 12.4% | ||
| Q2 25 | 3.6% | 15.2% | ||
| Q1 25 | -0.2% | 14.1% | ||
| Q4 24 | 1.1% | 13.6% | ||
| Q3 24 | 1.8% | 15.2% | ||
| Q2 24 | 4.0% | 14.8% |
| Q1 26 | — | $2.27 | ||
| Q4 25 | $4.99 | $1.89 | ||
| Q3 25 | $4.51 | $2.41 | ||
| Q2 25 | $3.96 | $2.84 | ||
| Q1 25 | $-0.24 | $2.58 | ||
| Q4 24 | $1.30 | $2.56 | ||
| Q3 24 | $1.87 | $2.61 | ||
| Q2 24 | $4.33 | $2.49 |
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 | $3.5B |
| Total DebtLower is stronger | $30.5B | $86.0B |
| Stockholders' EquityBook value | $17.3B | $55.9B |
| Total Assets | $84.0B | $214.7B |
| Debt / EquityLower = less leverage | 1.76× | 1.54× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $3.5B | ||
| Q4 25 | $3.7B | $5.6B | ||
| Q3 25 | $2.7B | $3.3B | ||
| Q2 25 | $1.7B | $10.3B | ||
| Q1 25 | $3.8B | $12.0B | ||
| Q4 24 | $3.2B | $5.4B | ||
| Q3 24 | $5.1B | $9.8B | ||
| Q2 24 | $8.5B | $6.4B |
| Q1 26 | — | $86.0B | ||
| Q4 25 | $30.5B | $86.3B | ||
| Q3 25 | $31.2B | — | ||
| Q2 25 | $26.8B | — | ||
| Q1 25 | $26.8B | — | ||
| Q4 24 | $24.4B | $78.3B | ||
| Q3 24 | $24.1B | — | ||
| Q2 24 | $24.0B | — |
| Q1 26 | — | $55.9B | ||
| Q4 25 | $17.3B | $59.2B | ||
| Q3 25 | $17.1B | $60.5B | ||
| Q2 25 | $16.6B | $61.1B | ||
| Q1 25 | $16.4B | $61.1B | ||
| Q4 24 | $17.7B | $61.7B | ||
| Q3 24 | $18.9B | $64.3B | ||
| Q2 24 | $21.3B | $62.6B |
| Q1 26 | — | $214.7B | ||
| Q4 25 | $84.0B | $219.2B | ||
| Q3 25 | $83.2B | $217.2B | ||
| Q2 25 | $78.5B | $212.6B | ||
| Q1 25 | $81.6B | $214.6B | ||
| Q4 24 | $78.9B | $208.0B | ||
| Q3 24 | $79.8B | $210.7B | ||
| Q2 24 | $85.2B | $208.6B |
| Q1 26 | — | 1.54× | ||
| Q4 25 | 1.76× | 1.46× | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 1.61× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.38× | 1.27× | ||
| 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 | $7.2B |
| Free Cash FlowOCF − Capex | $1.9B | $4.6B |
| FCF MarginFCF / Revenue | 5.8% | 19.9% |
| Capex IntensityCapex / Revenue | 3.6% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.00× | 2.88× |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | $18.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.2B | ||
| Q4 25 | $3.1B | $6.7B | ||
| Q3 25 | $2.6B | $7.5B | ||
| Q2 25 | $2.6B | $7.0B | ||
| Q1 25 | $-64.0M | $6.8B | ||
| Q4 24 | $2.2B | $5.5B | ||
| Q3 24 | $1.7B | $6.1B | ||
| Q2 24 | $3.2B | $5.5B |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $1.9B | $4.2B | ||
| Q3 25 | $1.7B | $4.8B | ||
| Q2 25 | $1.9B | $4.6B | ||
| Q1 25 | $-727.0M | $4.4B | ||
| Q4 24 | $1.4B | $3.3B | ||
| Q3 24 | $1.0B | $4.2B | ||
| Q2 24 | $2.8B | $3.5B |
| Q1 26 | — | 19.9% | ||
| Q4 25 | 5.8% | 17.2% | ||
| Q3 25 | 4.8% | 21.9% | ||
| Q2 25 | 5.8% | 21.7% | ||
| Q1 25 | -2.3% | 21.0% | ||
| Q4 24 | 4.2% | 15.3% | ||
| Q3 24 | 2.9% | 20.7% | ||
| Q2 24 | 7.3% | 17.6% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 3.6% | 10.1% | ||
| Q3 25 | 2.7% | 12.0% | ||
| Q2 25 | 2.1% | 11.3% | ||
| Q1 25 | 2.1% | 11.7% | ||
| Q4 24 | 2.4% | 10.1% | ||
| Q3 24 | 1.9% | 9.7% | ||
| Q2 24 | 1.3% | 10.3% |
| Q1 26 | — | 2.88× | ||
| Q4 25 | 2.00× | 3.16× | ||
| Q3 25 | 1.90× | 2.75× | ||
| Q2 25 | 2.17× | 2.17× | ||
| Q1 25 | — | 2.32× | ||
| Q4 24 | 5.95× | 1.86× | ||
| Q3 24 | 2.71× | 2.01× | ||
| Q2 24 | 2.14× | 1.89× |
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% |
TMUS
| Postpaid service revenues | $15.6B | 68% |
| Other | $7.5B | 32% |
