Marathon Petroleum
Marathon Petroleum returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 22.59% | 22.41% | 1,281.26% | 47.92% | 9.9% | 14.9 pp |
| FY 2026 Q1 | Mar 31, 2026 | 14.39% | 14.68% | 65.12% | 27.95% | 5.46% | 6.7 pp |
| FY 2025 Q4 | Dec 31, 2025 | 13.64% | 13.56% | 24.74% | 23.09% | 4.97% | 5.9 pp |
| FY 2025 Q3 | Sep 30, 2025 | 10.94% | 10.93% | -24.67% | 16% | 3.54% | 3.2 pp |
| FY 2025 Q2 | Jun 30, 2025 | 9.18% | 8.92% | — | 11.25% | 2.61% | 1.5 pp |
| FY 2025 Q1 | Mar 31, 2025 | 9.54% | 9.29% | — | 12.38% | 2.91% | 1.8 pp |
| FY 2024 Q4 | Dec 31, 2024 | 11.46% | 10.97% | — | 16.35% | 4.18% | 3.8 pp |
| FY 2024 Q3 | Sep 30, 2024 | 13.45% | 12.68% | — | 20.2% | 5.33% | 5.7 pp |
| FY 2024 Q2 | Jun 30, 2024 | 17.82% | 17.59% | -658.86% | 30.54% | 8.37% | 10.1 pp |
| FY 2024 Q1 | Mar 31, 2024 | 18.69% | 18.3% | -667.98% | 31.72% | 9.15% | 11 pp |
| FY 2023 Q4 | Dec 31, 2023 | 22.18% | 21.39% | -3,444.88% | 37.15% | 11.01% | 14.5 pp |
| FY 2023 Q3 | Sep 30, 2023 | 25.95% | 24.68% | — | 44.29% | 12.86% | 18.3 pp |
| FY 2023 Q2 | Jun 30, 2023 | 29.08% | 27.38% | 371.37% | 49.01% | 13.92% | 21.4 pp |
| FY 2023 Q1 | Mar 31, 2023 | 36.48% | 35.07% | 634.95% | 64.51% | 18.42% | 28.8 pp |
| FY 2022 Q4 | Dec 31, 2022 | 31.9% | 31.26% | — | 53.84% | 16.56% | 24.2 pp |
| FY 2022 Q3 | Sep 30, 2022 | 26.69% | 26.29% | — | 43.86% | 13.37% | 19 pp |
| FY 2022 Q2 | Jun 30, 2022 | 20.65% | 18.4% | — | 29.64% | 8.57% | 13 pp |
| FY 2022 Q1 | Mar 31, 2022 | 9.3% | 8.5% | — | 47.52% | 12.19% | 1.6 pp |
| FY 2021 Q4 | Dec 31, 2021 | 6.88% | 6.28% | — | 40.24% | 11.42% | -0.8 pp |
| FY 2021 Q3 | Sep 30, 2021 | — | 4.1% | — | 36.46% | 10.67% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | 0.7% | — | 29.13% | 8.57% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | 0.74% | — | -3.65% | -0.96% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | -16.12% | — | -35.16% | -10.7% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | -14.49% | — | -34.41% | -10.61% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | -10.28% | — | -26.53% | -8.47% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | -8.97% | — | -22.71% | -7.21% | — |
| FY 2019 Q4 | Dec 31, 2019 | 6.02% | 6.88% | — | 7.66% | 2.75% | -1.7 pp |
| FY 2019 Q3 | Sep 30, 2019 | 10.18% | 10.7% | — | 12.86% | 4.16% | 2.5 pp |
| FY 2019 Q2 | Jun 30, 2019 | 9.33% | 9.89% | — | 11.34% | 3.75% | 1.6 pp |
| FY 2019 Q1 | Mar 31, 2019 | 8.87% | 9.41% | — | 11.18% | 3.73% | 1.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 8.74% | 9.42% | — | 11.3% | 3.92% | 1 pp |
| FY 2018 Q3 | Sep 30, 2018 | — | 11.32% | — | 27.37% | 7.7% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | 12.01% | — | 29.07% | 8.25% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | 10.17% | — | 24.51% | 7.15% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | 10.47% | — | 24.88% | 7.34% | — |
| FY 2017 Q3 | Sep 30, 2017 | 7.93% | 8.94% | 139.28% | 12.48% | 3.65% | 0.2 pp |
| FY 2017 Q2 | Jun 30, 2017 | 5.32% | 5.95% | -35.69% | 6.77% | 1.98% | -2.4 pp |
| FY 2017 Q1 | Mar 31, 2017 | 5.83% | 6.91% | — | 9.26% | 2.75% | -1.9 pp |
| FY 2016 Q4 | Dec 31, 2016 | 5.25% | 6.42% | — | 8.76% | 2.68% | -2.5 pp |
| FY 2016 Q3 | Sep 30, 2016 | 6.08% | 7.28% | -18.41% | 8.83% | 3.09% | -1.6 pp |
| FY 2016 Q2 | Jun 30, 2016 | 9.17% | 11.06% | -10.54% | 15.41% | 5.18% | 1.5 pp |
| FY 2016 Q1 | Mar 31, 2016 | 9% | 11.37% | -9.11% | 16.19% | 5.45% | 1.3 pp |
| FY 2015 Q4 | Dec 31, 2015 | 13.09% | 16% | 2.71% | 23.78% | 7.75% | 5.4 pp |
| FY 2015 Q3 | Sep 30, 2015 | 22.22% | 25.63% | 62.86% | 29.95% | 11.2% | 14.5 pp |
| FY 2015 Q2 | Jun 30, 2015 | 22.95% | 25.47% | 30.95% | 28.63% | 10.62% | 15.3 pp |
| FY 2015 Q1 | Mar 31, 2015 | 23.65% | 25.7% | 38.49% | 29.67% | 10.84% | 16 pp |
| FY 2014 Q4 | Dec 31, 2014 | 18.63% | 20.03% | 10.94% | 23.29% | 8.58% | 10.9 pp |
| FY 2014 Q3 | Sep 30, 2014 | 17.66% | 19.03% | 3.9% | 21.68% | 7.75% | 10 pp |
| FY 2014 Q2 | Jun 30, 2014 | 15.89% | 16.09% | -11,467.98% | 16.5% | 6.26% | 8.2 pp |
| FY 2014 Q1 | Mar 31, 2014 | 14.79% | 13.71% | -168.39% | 14.2% | 5.29% | 7.1 pp |
| FY 2013 Q4 | Dec 31, 2013 | 19.53% | 18.23% | -66.28% | 18.68% | 7.6% | 11.8 pp |
| FY 2013 Q3 | Sep 30, 2013 | 19.8% | 19.56% | -33.21% | 20.08% | 8.06% | 12.1 pp |
| FY 2013 Q2 | Jun 30, 2013 | 27.73% | 28.03% | 73.69% | 29.82% | 12.13% | 20 pp |
| FY 2013 Q1 | Mar 31, 2013 | 34.35% | 31.24% | 129.19% | 33.16% | 12.55% | 26.7 pp |
| FY 2012 Q4 | Dec 31, 2012 | 34.06% | 30.4% | 97.93% | 31.97% | 12.8% | 26.4 pp |
| FY 2012 Q3 | Sep 30, 2012 | 25.56% | 24.45% | — | 23.79% | 9.88% | 17.9 pp |
| FY 2012 Q2 | Jun 30, 2012 | 25.01% | 26.43% | — | 25.57% | 10.15% | 17.3 pp |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | — | — | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | — | — | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | — | — | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 19, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · MPC, USD. Latest completed close Oct 26, 2026. Price data retrieved Oct 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.