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Mplx LP vs Genesis Energy LP: MPLX and GEL compared
Mplx LP is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $449M for Genesis Energy LP (Q3 2026). Genesis Energy LP is growing faster (+8% against -0.4% a year earlier). Mplx LP is more profitable, with an operating margin of 40.9% against 15.4%.
Where the money goes: MPLX and GEL
Mplx LP (MPLX) · Q3 2026
Mplx LP, Q3 2026: revenue $3.6B (-0.4% year over year), operating margin 40.9%, net earnings $1.2B, operating cash flow $1.5B. The chart follows the revenue to costs, profit and cash.
Genesis Energy LP (GEL) · Q3 2026
Genesis Energy LP, Q3 2026: revenue $449M (+8% year over year), operating margin 15.4%, net earnings $2.4M, operating cash flow $78.4M. The chart follows the revenue to costs, profit and cash.
| Mplx LP (MPLX) | Genesis Energy LP (GEL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $3.6B | $449M |
| Revenue growth, Y/Y | -0.4% | +8% |
| Operating margin | 40.9% | 15.4% |
| Net earnings | $1.2B | $2.4M |
| Net margin | 32.3% | 0.5% |
| Operating cash flow | $1.5B | $78.4M |
| Free cash flow | $447M | $46.6M |
| Market value | $56.6B | $1.6B |
| P/E | 11.9× | 12.6× |
| Analysts’ mean target | $62.92 | $18.00 |
Where the revenue comes from
Mplx LP
- Natural Gas and NGL Services: $1.5B (42%)
- Crude Oil and Products Logistics: $1.3B (35%)
- Other revenues: $817M (23%)
Genesis Energy LP
- Fee-based revenues: $247M (55%)
- Product sales: $191M (43%)
- Sulfur services: $11.0M (2%)
Questions
Which is bigger, Mplx LP or Genesis Energy LP?
Mplx LP is the larger company: $3.6B of revenue in its latest quarter (Q3 2026) against $449M for Genesis Energy LP (Q3 2026).
Is Mplx LP or Genesis Energy LP growing faster?
Genesis Energy LP is growing faster (+8% against -0.4% a year earlier).
Which is more profitable, Mplx LP or Genesis Energy LP?
Mplx LP is more profitable, with an operating margin of 40.9% against 15.4%.
More: Mplx LP earnings · how Mplx LP makes money · Genesis Energy LP earnings · how Genesis Energy LP makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.