vs
Side-by-side financial comparison of Marathon Petroleum (MPC) and Verizon (VZ). Click either name above to swap in a different company.
Verizon is the larger business by last-quarter revenue ($34.4B vs $32.6B, roughly 1.1× Marathon Petroleum). Verizon runs the higher net margin — 14.9% vs 4.7%, a 10.2% gap on every dollar of revenue. On growth, Verizon posted the faster year-over-year revenue change (2.9% vs -1.7%). Verizon produced more free cash flow last quarter ($3.8B vs $1.9B). Over the past eight quarters, Verizon's revenue compounded faster (2.5% 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.
Verizon Communications Inc., is an American telecommunications company headquartered in New York City. It is the world's second-largest telecommunications company by revenue and its mobile network is the largest wireless carrier in the United States, with 146.1 million subscribers as of June 30, 2025.
MPC vs VZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $32.6B | $34.4B |
| Net Profit | $1.5B | $5.1B |
| Gross Margin | 11.4% | — |
| Operating Margin | 8.3% | 23.9% |
| Net Margin | 4.7% | 14.9% |
| Revenue YoY | -1.7% | 2.9% |
| Net Profit YoY | 313.7% | 3.4% |
| EPS (diluted) | $4.99 | — |
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 | — | $34.4B | ||
| Q4 25 | $32.6B | $36.4B | ||
| Q3 25 | $34.8B | $33.8B | ||
| Q2 25 | $33.8B | $34.5B | ||
| Q1 25 | $31.5B | $33.5B | ||
| Q4 24 | $33.1B | $35.7B | ||
| Q3 24 | $35.1B | $33.3B | ||
| Q2 24 | $37.9B | $32.8B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | $1.5B | $2.3B | ||
| Q3 25 | $1.4B | $5.0B | ||
| Q2 25 | $1.2B | $5.0B | ||
| Q1 25 | $-74.0M | $4.9B | ||
| Q4 24 | $371.0M | $5.0B | ||
| Q3 24 | $622.0M | $3.3B | ||
| Q2 24 | $1.5B | $4.6B |
| 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 | — | 23.9% | ||
| Q4 25 | 8.3% | 13.8% | ||
| Q3 25 | 7.8% | 24.0% | ||
| Q2 25 | 6.5% | 23.7% | ||
| Q1 25 | 2.2% | 23.8% | ||
| Q4 24 | 3.4% | 20.8% | ||
| Q3 24 | 3.8% | 17.8% | ||
| Q2 24 | 6.7% | 23.8% |
| Q1 26 | — | 14.9% | ||
| Q4 25 | 4.7% | 6.4% | ||
| Q3 25 | 3.9% | 14.6% | ||
| Q2 25 | 3.6% | 14.5% | ||
| Q1 25 | -0.2% | 14.6% | ||
| Q4 24 | 1.1% | 14.0% | ||
| Q3 24 | 1.8% | 9.9% | ||
| Q2 24 | 4.0% | 14.0% |
| Q1 26 | — | — | ||
| Q4 25 | $4.99 | $0.56 | ||
| Q3 25 | $4.51 | $1.17 | ||
| Q2 25 | $3.96 | $1.18 | ||
| Q1 25 | $-0.24 | $1.15 | ||
| Q4 24 | $1.30 | $1.18 | ||
| Q3 24 | $1.87 | $0.78 | ||
| Q2 24 | $4.33 | $1.09 |
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 | $8.4B |
| Total DebtLower is stronger | $30.5B | $144.2B |
| Stockholders' EquityBook value | $17.3B | $104.6B |
| Total Assets | $84.0B | $417.9B |
| Debt / EquityLower = less leverage | 1.76× | 1.38× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.4B | ||
| Q4 25 | $3.7B | $19.0B | ||
| Q3 25 | $2.7B | $7.7B | ||
| Q2 25 | $1.7B | $3.4B | ||
| Q1 25 | $3.8B | $2.3B | ||
| Q4 24 | $3.2B | $4.2B | ||
| Q3 24 | $5.1B | $5.0B | ||
| Q2 24 | $8.5B | $2.4B |
| Q1 26 | — | $144.2B | ||
| Q4 25 | $30.5B | $139.5B | ||
| Q3 25 | $31.2B | $126.6B | ||
| Q2 25 | $26.8B | $123.9B | ||
| Q1 25 | $26.8B | $121.0B | ||
| Q4 24 | $24.4B | $121.4B | ||
| Q3 24 | $24.1B | $128.9B | ||
| Q2 24 | $24.0B | $126.0B |
| Q1 26 | — | $104.6B | ||
| Q4 25 | $17.3B | $105.7B | ||
| Q3 25 | $17.1B | $106.3B | ||
| Q2 25 | $16.6B | $104.4B | ||
| Q1 25 | $16.4B | $102.0B | ||
| Q4 24 | $17.7B | $100.6B | ||
| Q3 24 | $18.9B | $97.7B | ||
| Q2 24 | $21.3B | $97.5B |
| Q1 26 | — | $417.9B | ||
| Q4 25 | $84.0B | $404.3B | ||
| Q3 25 | $83.2B | $388.3B | ||
| Q2 25 | $78.5B | $383.3B | ||
| Q1 25 | $81.6B | $380.4B | ||
| Q4 24 | $78.9B | $384.7B | ||
| Q3 24 | $79.8B | $381.2B | ||
| Q2 24 | $85.2B | $379.1B |
| Q1 26 | — | 1.38× | ||
| Q4 25 | 1.76× | 1.32× | ||
| Q3 25 | 1.83× | 1.19× | ||
| Q2 25 | 1.61× | 1.19× | ||
| Q1 25 | 1.64× | 1.19× | ||
| Q4 24 | 1.38× | 1.21× | ||
| Q3 24 | 1.27× | 1.32× | ||
| Q2 24 | 1.13× | 1.29× |
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 | $8.0B |
| Free Cash FlowOCF − Capex | $1.9B | $3.8B |
| FCF MarginFCF / Revenue | 5.8% | 11.0% |
| Capex IntensityCapex / Revenue | 3.6% | 12.2% |
| Cash ConversionOCF / Net Profit | 2.00× | 1.55× |
| TTM Free Cash FlowTrailing 4 quarters | $4.8B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $8.0B | ||
| Q4 25 | $3.1B | $9.1B | ||
| Q3 25 | $2.6B | $11.3B | ||
| Q2 25 | $2.6B | $9.0B | ||
| Q1 25 | $-64.0M | $7.8B | ||
| Q4 24 | $2.2B | $10.4B | ||
| Q3 24 | $1.7B | $9.9B | ||
| Q2 24 | $3.2B | $9.5B |
| Q1 26 | — | $3.8B | ||
| 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 26 | — | 11.0% | ||
| 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 26 | — | 12.2% | ||
| 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 26 | — | 1.55× | ||
| Q4 25 | 2.00× | 3.89× | ||
| Q3 25 | 1.90× | 2.28× | ||
| Q2 25 | 2.17× | 1.79× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | 5.95× | 2.08× | ||
| Q3 24 | 2.71× | 3.00× | ||
| Q2 24 | 2.14× | 2.07× |
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% |
VZ
| Service revenues and other | $28.8B | 84% |
| Wireless equipment revenues | $5.7B | 16% |
