Filing Flows › Marathon Petroleum (MPC) › Q3 2026 › vs Q3 2025
Marathon Petroleum (MPC) Q3 2026 vs Q3 2025 (year over year)
Marathon Petroleum's revenue rose $21.2B (+61%) from $34.8B in Q3 2025 to $56.0B in Q3 2026. The biggest changes: Refining & Marketing +$20.4B (+63%); Renewable Diesel +$649M (+91%); Midstream +$127M (+9%). Operating margin 18.7% against 7.8% (+10.9 pts).
Marathon Petroleum, Q3 2026: revenue $56.0B (+61% year over year), operating margin 18.7%, net earnings $7.4B, operating cash flow $10.7B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.7% | 7.8% | +10.9 pts |
| Net margin | 13.3% | 3.9% | +9.4 pts |
| Free cash flow margin | 17.1% | 4.8% | +12.4 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Refining & Marketing | $53.1B | $32.6B | $20.4B | +63% |
| Midstream | $1.6B | $1.4B | $127M | +9% |
| Renewable Diesel | $1.4B | $713M | $649M | +91% |
| Revenue | $56.0B | $34.8B | $21.2B | +61% |
| Operating profit | $10.4B | $2.7B | $7.7B | +285% |
| Costs & expenses | $45.6B | $32.1B | $13.5B | +42% |
| Pre-tax earnings | $10.2B | $2.4B | $7.8B | +323% |
| Other expense, net | $287M | $310M | −$23.0M | -7% |
| Cost of revenue | $43.8B | $31.2B | $12.6B | +40% |
| SG&A | $1.1B | $863M | $237M | +27% |
| Net earnings | $7.4B | $1.4B | $6.1B | +444% |
| Minority interests | $431M | $573M | −$142M | -25% |
| Income tax | $2.3B | $460M | $1.8B | +397% |
| Depreciation & amortization | $836M | $841M | −$5.0M | -0.6% |
| Working capital & other | $2.4B | $398M | $2.1B | +515% |
| Operating cash flow | $10.7B | $2.6B | $8.1B | +311% |
| Free cash flow (OCF − capex) | $9.6B | $1.7B | $7.9B | +478% |
| Capital expenditures | $1.1B | $947M | $180M | +19% |
Questions
How much did Marathon Petroleum's revenue grow year over year in Q3 2026?
Marathon Petroleum's revenue rose $21.2B (+61%) from $34.8B in Q3 2025 to $56.0B in Q3 2026.
What drove Marathon Petroleum's revenue change in Q3 2026?
Refining & Marketing +$20.4B (+63%); Renewable Diesel +$649M (+91%); Midstream +$127M (+9%).