Filing Flows › Murphy Oil (MUR) › Q4 2025
Murphy Oil (MUR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Murphy Oil (MUR) reported revenue of $625M for the fourth quarter 2025 (Q4 2025), -7% from a year earlier and -15% from the quarter before. Operating margin was 9.5%, net earnings $11.9M (1.9% of revenue).
Murphy Oil, Q4 2025: revenue $625M (-7% year over year), operating margin 9.5%, net earnings $11.9M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $625M | -15% | -7% |
| Operating profit | $59.3M | +924% | -30% |
| Net earnings | $11.9M | — | -76% |
| Operating cash flow | $250M | -26% | -42% |
| Free cash flow | $245M | -23% | -42% |
What changed
Revenue was $624.6M in Q4 2025, down 7% year over year and down 15% from the previous quarter. Net crude oil and condensate revenue was the largest line at 78% of revenue.
Operating profit was $59.3M, a 9.5% margin (down 3.2 points year over year). Total costs fell 4% while revenue fell 7%. The fastest-growing cost line was SG&A (+24%). Net earnings were $11.9M, down 76% year over year. The effective tax rate was 22.7%.
Operating cash flow was $249.6M (down 42% year over year), 1105% of net income including minority interests. Non-cash charges added back $240.8M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items used $30.0M. Capital expenditures of $4.6M left free cash flow of $245.0M.
Questions
What was Murphy Oil's revenue in the fourth quarter 2025?
Murphy Oil (MUR) reported revenue of $625M for the fourth quarter 2025 (Q4 2025), -7% from a year earlier and -15% from the quarter before.
Was Murphy Oil profitable in the fourth quarter 2025?
Operating profit was $59.3M (9.5% of revenue) and net earnings $11.9M.
Source: Murphy Oil 10-K on SEC EDGAR.