How do MPLX LP and V F CORP compare by revenue?

MPLX LP reported revenue of $2.5B in Q4 FY2025, while V F CORP reported $2.9B in Q3 FY2026. V F CORP is 1.2× larger by last-quarter revenue.

Which is growing revenue faster, MPLX LP or V F CORP?

MPLX LP's latest revenue grew 1.4% year-over-year, versus 1.5% for V F CORP. V F CORP is growing faster on a YoY basis.

Which has a higher net margin, MPLX LP or V F CORP?

MPLX LP's net margin is 49.1% vs V F CORP's 10.5%. MPLX LP has the higher bottom-line margin.

Which generates more free cash flow, MPLX LP or V F CORP?

MPLX LP generated $782.0M of free cash flow last quarter, versus $977.9M for V F CORP. Free cash flow is operating cash flow minus capital expenditure — what's actually left for dividends, buybacks and debt repayment.

What is the 2-year revenue CAGR for MPLX LP vs V F CORP?

Over the trailing 8 quarters, MPLX LP compounded revenue at roughly 6.2% per year, versus 10.1% for V F CORP. V F CORP has the faster medium-term growth trajectory.

Where does this MPLX vs VFC data come from?

All figures are parsed directly from SEC EDGAR 10-Q / 10-K / 20-F / 6-K filings (for US-listed issuers) or EDINET filings (for Japanese issuers), then normalised into a common schema. Numbers update automatically as new filings are released.

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Side-by-side financial comparison of MPLX LP (MPLX) and V F CORP (VFC). Click either name above to swap in a different company.

V F CORP is the larger business by last-quarter revenue ($2.9B vs $2.5B, roughly 1.2× MPLX LP). MPLX LP runs the higher net margin — 49.1% vs 10.5%, a 38.6% gap on every dollar of revenue. On growth, V F CORP posted the faster year-over-year revenue change (1.5% vs 1.4%). V F CORP produced more free cash flow last quarter ($977.9M vs $782.0M). Over the past eight quarters, V F CORP's revenue compounded faster (10.1% CAGR vs 6.2%).

MPLX LPMPLXEarnings & Financial Report

NYSE · Industrials · Pipe Lines (No Natural Gas)

MarkWest Energy Partners, L.P., a subsidiary of MPLX LP, is a natural gas gathering, processing and transportation company master limited partnership of the United States. In 1988, the company was founded in Denver, Colorado and grew to be Colorado's 13th largest company. In 2015 it was acquired by MPLX, itself a subsidiary of Marathon Petroleum.

V F CORPVFCEarnings & Financial Report

NYSE · Consumer Discretionary · Men's & Boys' Furnishgs, Work Clothg, & Allied Garments

The F. W. Woolworth Company was a retail company and one of the pioneers of the five-and-dime store. It was among the most successful American and international five-and-dime businesses, setting trends and creating the modern retail model that stores worldwide follow today.

MPLX vs VFC — Head-to-Head

Bigger by revenue

VFC

1.2× larger

$2.9B

$2.5B

Growing faster (revenue YoY)

VFC

+0.1% gap

1.5%

1.4%

Higher net margin

MPLX

38.6% more per $

49.1%

10.5%

More free cash flow

VFC

$195.9M more FCF

$977.9M

$782.0M

Faster 2-yr revenue CAGR

VFC

Annualised

10.1%

6.2%

Income Statement — Q4 FY2025 vs Q3 FY2026

Metric	MPLX	VFC
Revenue	$2.5B	$2.9B
Net Profit	$1.2B	$300.8M
Gross Margin	—	56.6%
Operating Margin	60.5%	10.1%
Net Margin	49.1%	10.5%
Revenue YoY	1.4%	1.5%
Net Profit YoY	8.5%	79.3%
EPS (diluted)	—	$0.76

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.

Revenue

MPLX

VFC

Q4 25	$2.5B	$2.9B
Q3 25	$2.5B	$2.8B
Q2 25	$2.4B	$1.8B
Q1 25	$2.5B	$2.0B
Q4 24	$2.4B	$2.8B
Q3 24	$2.3B	$2.8B
Q2 24	$2.3B	$1.9B
Q1 24	$2.2B	$2.4B

Net Profit

MPLX

VFC

Q4 25	$1.2B	$300.8M
Q3 25	$1.6B	$189.8M
Q2 25	$1.1B	$-116.4M
Q1 25	$1.1B	$-150.8M
Q4 24	$1.1B	$167.8M
Q3 24	$1.0B	$52.2M
Q2 24	$1.2B	$-258.9M
Q1 24	$1.0B	$-418.3M

Gross Margin

MPLX

VFC

Q4 25	—	56.6%
Q3 25	—	52.2%
Q2 25	—	53.9%
Q1 25	—	52.7%
Q4 24	—	56.3%
Q3 24	—	52.2%
Q2 24	—	52.0%
Q1 24	—	48.4%

Operating Margin

MPLX

VFC

Q4 25	60.5%	10.1%
Q3 25	73.2%	11.2%
Q2 25	54.9%	-4.9%
Q1 25	55.5%	2.2%
Q4 24	55.6%	8.0%
Q3 24	54.4%	9.9%
Q2 24	62.9%	-12.6%
Q1 24	57.6%	-15.0%

Net Margin

MPLX

VFC

Q4 25	49.1%	10.5%
Q3 25	63.2%	6.8%
Q2 25	44.9%	-6.6%
Q1 25	46.2%	-7.5%
Q4 24	45.9%	5.9%
Q3 24	44.6%	1.9%
Q2 24	52.6%	-13.6%
Q1 24	46.7%	-17.6%

EPS (diluted)

MPLX

VFC

Q4 25	—	$0.76
Q3 25	—	$0.48
Q2 25	—	$-0.30
Q1 25	—	$-0.37
Q4 24	—	$0.43
Q3 24	—	$0.13
Q2 24	—	$-0.67
Q1 24	—	$-1.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric	MPLX	VFC
Cash + ST InvestmentsLiquidity on hand	$2.1B	$1.5B
Total DebtLower is stronger	$24.2B	$3.6B
Stockholders' EquityBook value	—	$1.8B
Total Assets	$43.0B	$10.4B
Debt / EquityLower = less leverage	—	1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments

MPLX

VFC

Q4 25	$2.1B	$1.5B
Q3 25	$1.8B	$419.1M
Q2 25	$1.4B	$642.4M
Q1 25	$2.5B	$429.4M
Q4 24	$1.5B	$1.4B
Q3 24	$2.4B	$492.2M
Q2 24	$2.5B	$637.4M
Q1 24	$385.0M	$674.6M

Total Debt

MPLX

VFC

Q4 25	$24.2B	$3.6B
Q3 25	$24.1B	$3.5B
Q2 25	$19.7B	$3.6B
Q1 25	$19.7B	$3.4B
Q4 24	$19.3B	$3.9B
Q3 24	$19.3B	$4.0B
Q2 24	$19.2B	$3.9B
Q1 24	$18.8B	$4.7B

Stockholders' Equity

MPLX

VFC

Q4 25	—	$1.8B
Q3 25	—	$1.5B
Q2 25	—	$1.3B
Q1 25	—	$1.5B
Q4 24	—	$1.7B
Q3 24	—	$1.4B
Q2 24	—	$1.4B
Q1 24	—	$1.7B

Total Assets

MPLX

VFC

Q4 25	$43.0B	$10.4B
Q3 25	$43.2B	$10.6B
Q2 25	$37.8B	$10.2B
Q1 25	$39.0B	$9.4B
Q4 24	$37.5B	$10.6B
Q3 24	$38.5B	$12.2B
Q2 24	$38.4B	$11.5B
Q1 24	$36.5B	$11.6B

Debt / Equity

MPLX

VFC

Q4 25	—	1.99×
Q3 25	—	2.40×
Q2 25	—	2.76×
Q1 25	—	2.30×
Q4 24	—	2.31×
Q3 24	—	2.86×
Q2 24	—	2.84×
Q1 24	—	2.84×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric	MPLX	VFC
Operating Cash FlowLast quarter	$1.5B	$1.0B
Free Cash FlowOCF − Capex	$782.0M	$977.9M
FCF MarginFCF / Revenue	31.9%	34.0%
Capex IntensityCapex / Revenue	29.1%	1.1%
Cash ConversionOCF / Net Profit	1.24×	3.36×
TTM Free Cash FlowTrailing 4 quarters	$4.1B	$357.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow

MPLX

VFC

Q4 25	$1.5B	$1.0B
Q3 25	$1.4B	$-227.0M
Q2 25	$1.7B	$-145.5M
Q1 25	$1.2B	$-171.1M
Q4 24	$1.7B	$918.1M
Q3 24	$1.4B	$-301.6M
Q2 24	$1.6B	$19.8M
Q1 24	$1.3B	—

Free Cash Flow

MPLX

VFC

Q4 25	$782.0M	$977.9M
Q3 25	$905.0M	$-253.5M
Q2 25	$1.4B	$-173.7M
Q1 25	$979.0M	$-193.0M
Q4 24	$1.4B	$899.7M
Q3 24	$1.1B	$-322.4M
Q2 24	$1.4B	$-5.4M
Q1 24	$1.0B	—

FCF Margin

MPLX

VFC

Q4 25	31.9%	34.0%
Q3 25	36.8%	-9.0%
Q2 25	60.9%	-9.9%
Q1 25	39.8%	-9.6%
Q4 24	56.6%	31.7%
Q3 24	48.4%	-11.7%
Q2 24	60.0%	-0.3%
Q1 24	47.7%	—

Capex Intensity

MPLX

VFC

Q4 25	29.1%	1.1%
Q3 25	21.4%	0.9%
Q2 25	12.8%	1.6%
Q1 25	10.9%	1.1%
Q4 24	12.7%	0.6%
Q3 24	11.9%	0.8%
Q2 24	9.4%	1.3%
Q1 24	11.7%	—

Cash Conversion

MPLX

VFC

Q4 25	1.24×	3.36×
Q3 25	0.92×	-1.20×
Q2 25	1.64×	—
Q1 25	1.10×	—
Q4 24	1.51×	5.47×
Q3 24	1.35×	-5.78×
Q2 24	1.32×	—
Q1 24	1.27×	—

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

MPLX

Services	$746.0M	30%
Other	$675.0M	28%
Products	$492.0M	20%
Nonrelated Party	$186.0M	8%
Related Party	$151.0M	6%
Crude Oil And Products Logistics	$104.0M	4%
Service Other	$56.0M	2%
Natural Gas And NGL Services	$41.0M	2%