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Marathon Petroleum vs Valero Energy: MPC and VLO compared
Marathon Petroleum is the larger company: $56.0B of revenue in its latest quarter (Q3 2026) against $46.1B for Valero Energy (Q3 2026). Marathon Petroleum is growing faster (+61% against +43% a year earlier). Valero Energy is more profitable, with an operating margin of 19.7% against 18.7%.
Where the money goes: MPC and VLO
Marathon Petroleum (MPC) · Q3 2026
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 follows the revenue to costs, profit and cash.
Valero Energy (VLO) · Q3 2026
Valero Energy, Q3 2026: revenue $46.1B (+43% year over year), operating margin 19.7%, net earnings $6.8B, operating cash flow $6.9B. The chart follows the revenue to costs, profit and cash.
| Marathon Petroleum (MPC) | Valero Energy (VLO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $56.0B | $46.1B |
| Revenue growth, Y/Y | +61% | +43% |
| Operating margin | 18.7% | 19.7% |
| Net earnings | $7.4B | $6.8B |
| Net margin | 13.3% | 14.8% |
| Operating cash flow | $10.7B | $6.9B |
| Free cash flow | $9.6B | — |
| Market value | $105.7B | $100.1B |
| P/E | 7.4× | 7.9× |
| Analysts’ mean target | $466.94 | $427.00 |
Where the revenue comes from
Marathon Petroleum
- Refining & Marketing: $53.1B (95%)
- Midstream: $1.6B (3%)
- Renewable Diesel: $1.4B (2%)
Valero Energy
- Refining: $44.4B (96%)
- Ethanol: $1.1B (2%)
- Renewable Diesel: $664M (1%)
Questions
Which is bigger, Marathon Petroleum or Valero Energy?
Marathon Petroleum is the larger company: $56.0B of revenue in its latest quarter (Q3 2026) against $46.1B for Valero Energy (Q3 2026).
Is Marathon Petroleum or Valero Energy growing faster?
Marathon Petroleum is growing faster (+61% against +43% a year earlier).
Which is more profitable, Marathon Petroleum or Valero Energy?
Valero Energy is more profitable, with an operating margin of 19.7% against 18.7%.
More: Marathon Petroleum earnings · how Marathon Petroleum makes money · Valero Energy earnings · how Valero Energy makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.