MPLX LP

Listed Company

MPLXCIK 0001552000NYSELarge AcceleratedPipe Lines (No Natural Gas)FY ends Dec 31

Period

FY 2025

Revenue

$13.00B

Net Income

$4.95B

Total Assets

$43.01B

Equity

—

Shares Out

1.01B

Op. Cash Flow

$5.91B

MPLX$57.06+13.08% · past yearDBEQ Basic

Daily closing prices

Business

MPLX LP is a diversified master limited partnership that owns and operates midstream energy infrastructure and logistics assets throughout the United States. The company provides gathering, transportation, storage, and distribution services for crude oil, refined products, natural gas, and NGLs through two reportable segments: Crude Oil and Products Logistics, and Natural Gas and NGL Services. MPLX maintains a strategic relationship with sponsor Marathon Petroleum Corporation, which accounted for 48 percent of total revenues in 2025 and owns approximately 64 percent of outstanding common units.

Summary from 10-K filed 2026-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales-type lease revenue	151	136	136	62	0
Sales-type lease revenue, related parties	448	475	500	465	435
Income from equity method investments	697	802	600	476	321
Total revenues and other income	12,998	11,933	11,281	11,613	10,027
Purchases - related parties	1,649	1,583	1,544	1,413	1,219
Depreciation and amortization	1,351	1,283	1,213	1,230	1,287
General and administrative expenses	446	427	379	335	353
Other taxes	137	131	131	115	120
Total costs and expenses	7,055	6,645	6,381	6,702	6,035
Income from operations	5,943	5,288	4,900	4,911	3,992
Net interest and other financial costs	983	921	923	925	—
Income before income taxes	4,960	4,367	3,977	3,986	3,113
Other Tax Expense (Benefit)	8	10	11	—	—
Net income	4,952	4,357	3,966	3,978	3,112
Less: Net income attributable to noncontrolling interests	40	40	38	34	35
Limited partners interest in net income attributable to MPLX LP	4,912	4,290	3,829	3,815	2,936
Common - basic	4.82	4.21	3.8	3.75	2.86
Common - diluted	4.82	4.21	3.8	3.75	2.86
Common - basic (shares)	1,019	1,016	1,001	1,010	1,027
Common - diluted (shares)	1,019	1,017	1,002	1,010	1,027
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	4,912	4,317	3,928	3,944	3,992
Equity Interest in Acquiree, Remeasurement Gain	484	20	92	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,137	1,519	1,048	238	13
Receivables, less allowance for expected credit loss	735	718	823	737	654
Inventories	172	180	159	148	142
Other current assets	51	29	30	53	—
Total current assets	3,994	3,276	2,808	1,905	1,507
Equity method investments	4,798	4,531	3,743	4,095	3,981
Property, plant and equipment, net	21,698	19,154	19,264	18,848	20,042
Intangibles, net	1,397	518	654	705	831
Goodwill	8,755	7,645	7,645	7,645	7,657
Right of use assets, net	276	273	264	283	—
Other noncurrent assets	1,125	994	990	959	60
Total assets	43,005	37,511	36,529	35,665	35,507
Accounts payable	108	147	153	224	172
Accrued liabilities	254	295	300	269	363
Accrued property, plant and equipment	438	208	216	128	97
Long-term debt due within one year	1,502	1,693	1,135	988	499
Accrued interest payable	354	244	242	237	—
Total current liabilities	3,249	3,235	2,624	2,401	3,348
Long-term deferred revenue	119	317	347	219	383
Long-term debt	24,151	19,255	19,296	18,808	18,072
Deferred income taxes	25	18	16	13	10
Long-term operating lease liabilities	217	217	211	230	—
Total liabilities	28,477	23,501	22,945	22,151	22,490
Commitments and contingencies (see Note 22)	—	—	—	—	—
Series A Preferred Units	0	203	895	968	—
Accumulated other comprehensive income (loss)	5	−3	−4	−8	−17
Total MPLX LP partners capital	14,301	13,576	12,454	12,309	11,811
Noncontrolling interests	227	231	235	237	241
Total equity	14,528	13,807	12,689	12,546	12,052
Total liabilities, preferred units and equity	43,005	37,511	36,529	35,665	35,507

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of deferred financing costs and debt discount	30	54	55	73	70
Deferred income taxes	7	2	3	3	−2
Gain on equity method investments	−484	−20	−92	—	—
(Gain)/loss on disposal of assets	−161	3	−14	34	−13
Distributions from unconsolidated affiliates	864	826	736	578	508
Change in fair value of derivatives	−17	−3	0	−47	45
Current receivables	48	180	14	14	−199
Inventories	−26	−20	−19	−5	−24
Current liabilities and other current assets	−12	5	−17	−26	193
Assets and liabilities - related parties	126	84	84	40	101
Right of use assets and operating lease liabilities	3	−3	0	−3	−2
Deferred revenue	−74	−5	107	108	88
All other, net	−1	5	−39	27	26
Net cash provided by operating activities	5,909	5,946	5,397	5,019	4,911
Additions to property, plant and equipment	−1,808	−1,056	−937	−806	−529
Acquisitions, net of cash acquired	−3,316	−622	−246	−28	0
Disposal of assets	975	1	26	84	126
Investments - acquisitions and contributions	1,008	464	98	217	—
Investments - redemptions, repayments, return of capital and sales proceeds	293	146	3	11	36
All other, net	8	0	0	0	0
Net cash used in investing activities	−4,856	−1,995	−1,252	−956	−518
Long-term debt borrowings	6,541	1,630	1,589	3,379	4,175
Long-term debt repayments	2,464	1,151	1,001	2,202	5,821
Debt issuance costs	−63	−15	−15	−29	0
Unit repurchases	−400	−326	0	−491	−630
Distributions to noncontrolling interests	−44	−44	−41	−38	−39
Distributions to LP unitholders	−4,018	−3,559	−3,181	−2,921	−3,432
Contributions from MPC	24	35	31	44	45
All other, net	−5	−6	−2	−4	−2
Net cash used in financing activities	−435	−3,480	−3,335	−3,838	−4,395
Net change in cash, cash equivalents and restricted cash	618	471	810	225	−2

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is MPLX LP's CIK number?

MPLX LP's SEC CIK number is 0001552000 (1552000). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find MPLX LP's SEC filings?

All of MPLX LP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did MPLX LP last report earnings?

MPLX LP (MPLX) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001552000-26-000023). This is MPLX LP's most recent earnings filing of record — not a forecast of its next earnings date.

What is MPLX LP's most recent earnings 8-K?

MPLX LP's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001552000-26-000023. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View MPLX LP's latest earnings 8-K →
Look up any company's CIK number →