OakChart

MPLX LP

MPLXEnergy·Oil & Gas Midstream·USA·Large·NYSE·Nov 12 • 3:59 PM ET

56.59-0.18 (-0.32%)
2026-11-13 12:59 CET
Market cap
$57.33B
Revenue, TTM
12,439.00 USD m
Net income, TTM
4,343.00 USD m
Free cash flow, TTM
3,113.00 USD m
EPS diluted, TTM
4.28
Price / earnings
13.23
Compare

Price

MPLX against its 20, 50 and 200-day averages
Terms2050200Miss
Patternshover a marker to name it
RS 11Sales 3,505Price3,3763,43254.0056.0058.0060.002.5M5.0MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26MPLXclose 56.5920-day 57.9150-day 58.00200-day 57.2956.5952w high 60.9552-week range, not 6 months

7.2% under the 52-week high of 60.95 on 5 Aug 2026. 52-week low 51.60 on 8 Jan 2026. Last 15 sessions, 10.3% high to low

Volume 0.00× normal · the session has not printed · the line is the 50-bar volume average

Setup. RS line 11
CANSLIM 2 of 6 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); Performance: Year +50%; Institutional Ownership: Over 50%
VCP 5 of 6 — fails: 200-Day Simple Moving Average: Price above SMA200
Minervini 2 of 4 — fails: 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Zanger 0 of 5 — fails: RSI (14): Not Oversold (>50); Performance: Week +10%; 20-Day High/Low: 0-5% below High; Relative Volume: Over 1.5; 200-Day Simple Moving Average: Price above SMA200
Leaders 2 of 5 — fails: 50-Day Simple Moving Average: Price above SMA50; 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Breakout 0 of 4 — fails: 52-Week High/Low: New High; Relative Volume: Over 2; 50-Day Simple Moving Average: Price above SMA50; 200-Day Simple Moving Average: Price above SMA200
Growth 1 of 4 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); EPS Growth Next Year: High (>25%)
Quality 4 of 5 — fails: Debt/Equity: Low (<0.1)
Value 2 of 4 — fails: P/B: Under 2; Debt/Equity: Low (<0.1)
Income 3 of 4 — fails: Payout Ratio: Low (<20%)
Small Cap 1 of 4 — fails: Float: Under 100M; 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Accumulation 1 of 4 — fails: Institutional Ownership: Over 30%; Institutional Transactions: Over +10%; 200-Day Simple Moving Average: Price above SMA200
Relative Strength 1 of 3 — fails: Performance: Year +100%; 200-Day Simple Moving Average: Price above SMA200

Profile

MPLX
52-week range, 53% of the way up
51.6060.95

MPLX LP engages in the operation of midstream energy infrastructure and logistics assets, and distribution fuels services. It operates through the Crude Oil and Products Logistics and Natural Gas and NGL Services segments. The Crude Oil and Products Logistics segment transports, stores, distributes, and markets crude oil, asphalt, refined petroleum products, and water. The Natural Gas and NGL Services segment gathers, processes, and transports natural gas, and gathers, transports, fractionates, stores, and markets natural gas liquids (NGLs). The company was founded on March 27, 2012 and is headquartered in Findlay, OH.

Employees5762
IPOOct 26, 2012
Beta0.46
ATR, 14d1.17
Rel volume0.00
Short float1.89%
Insider own64.22%
Inst own19.35%

Snapshot

6 groups

Valuation

Index-
Market Cap$57.33B
Enterprise Value83.34B
Income4.34B
Sales12.44B
Book / share13.89
Cash / share1.28
Dividend Est.4.55 (8.04%)
Dividend TTM4.44 (7.84%)
Dividend Ex-DateNov 06, 2026
Dividend Gr. 3/5Y10.98% 7.51%
Payout81.91%
Employees5762
IPOOct 26, 2012

Ratios

Price / earnings13.23
Forward price / earnings11.81
Price / earnings / growth5.93
Price / sales4.61
Price / book4.08
Price / cash44.20
Price / free cash flow18.42
Value / cash profit13.39
Value / sales6.70
Quick Ratio1.47
Current Ratio1.56
Debt / equity1.93
Long-term debt / equity1.92
Options and shortYes / Yes

Earnings

Earnings / share4.28
Earnings next year4.79
Earnings next quarter1.19
Earnings this year-10.77%
Earnings next year11.42%
Earnings growth, 5 years1.99%
Past earnings growth8.67% -
Past sales growth2.00% 6.80%
Earnings vs last year-9.38%
Sales vs last year7.12%
Earnings vs last quarter-24.31%
Sales vs last quarter13.67%
EarningsNov 03 BMO
Surprise1.72% 7.48%

Ownership

Insiders own64.22%
Insider trades-0.00%
Institutions own19.35%
Institution trades-0.49%
Return on assets9.94%
Return on equity30.62%
Return on capital10.57%
Gross Margin43.11%
Operating margin38.34%
Profit Margin34.91%
20-day average-2.28%
50-day average-2.42%
200-day average-1.22%

Technical

Shares out1.01B
Shares floating362.41M
Short / float1.89%
Short ratio4.77
Short interest6.85M
52-week high60.95 -7.2%
52-week low51.60 +9.7%
Volatility1.61% 1.93%
Average range1.17
Strength index43.07
Market sensitivity0.46
Relative volume0.00
Avg Volume1.44M
Volume0

Performance

Perf Week0.07%
Perf Month-1.51%
Perf Quarter-4.86%
Perf Half Y1.84%
Perf YTD6.03%
Perf Year7.85%
Perf 3Y60.95%
Perf 5Y83.32%
Perf 10Y78.74%
Recommendation2.41
Target Price62.17
Prev Close56.59
Price56.59
Change %0.00%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Oct 20, 2026ResumedJP MorganNeutral$62+9.6%
Sep 10, 2026ResumedStifelHold$65+14.9%
Jul 29, 2026DowngradeWolfe ResearchOutperform → Peer Perform
Mar 24, 2026InitiatedTruistBuy$67+18.4%
Jan 05, 2026DowngradeRaymond JamesOutperform → Mkt Perform
Dec 01, 2025DowngradeJP MorganOverweight → Neutral$57+0.7%
Oct 17, 2024ResumedBofA SecuritiesUnderperform$43-24.0%
Oct 06, 2023ResumedGoldmanBuy$40-29.3%
Mar 14, 2023UpgradeJP MorganNeutral → Overweight$37 → $41-27.5%
Jan 09, 2023UpgradeWolfe ResearchPeer Perform → Outperform$36-36.4%

Peers

Mkt cap
TickerCompanyMkt cap
EPDEnterprise Products Partners L P80.66B
ETEnergy Transfer LP66.85B
TRGPTarga Resources Corp63.57B
OKEOneok Inc56.02B
WESWestern Midstream Partners LP17.26B
WMBWilliams Cos Inc86.81B
KMIKinder Morgan Inc71.31B
PAAPlains All American Pipeline LP17.21B
HESMHess Midstream LP6.30B
MPCMarathon Petroleum Corp113.07B

Insider trading

2 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
HAGEDORN CARL KRISTOPHERExec VP & Chief Fin OfcNov 10 '26Sale56.743,512199,27116,897Nov 12 04:07 PM
HAGEDORN CARL KRISTOPHEROfficerNov 10 '26Proposed Sale56.743,512199,271Nov 10 02:58 PM

Held by

AUM
TickerCompanyAUM
ENFRAlerian Energy Infrastructure ETFAUM: 529.45M
EIPXFT Energy Income Partners Strategy ETFAUM: 578.03M
TPYPTortoise North American Pipeline ETFAUM: 887.87M
DIVZPolen Dividend Income ETFAUM: 318.26M
DIVGlobal X SuperDividend U.S. ETFAUM: 774.61M
USAIPacer American Energy Infrastructure ETFAUM: 124.50M
FFLCFidelity Fundamental Large Cap Core ETFAUM: 1.26B
TOLZProShares DJ Brookfield Global Infrastructure ETFAUM: 173.80M
PFMInvesco Dividend Achievers ETFAUM: 832.76M
CVYInvesco Zacks Multi-Asset Income ETFAUM: 119.39M

News

latest 14 of 200
  • MPLX Edges Past Consensus But Falls Short Of The Whisper As Its Firm 2027 Distribution Promise Softens (Earnings Whispers)
  • MPLX LP Reports Third-Quarter 2026 Financial Results; Announces Increase to Quarterly Distribution of 12.5% (PR Newswire)
  • Marathon Petroleum Corp to Divest Minnesota and North Dakota Refineries & MPLX LP to Divest Related Midstream Assets (PR Newswire)
  • MPLX LP announces election of two new directors (PR Newswire)
  • MPLX LP Increases Quarterly Distribution (PR Newswire)
  • MPLX Must Prove Its Promised Back-Half Acceleration As Harmon Creek III Comes Online (Earnings Whispers)
  • Bloom Energy vs. Marathon Petroleum: Which Popular Energy Stock Is the Better Buy? (Zacks)
  • MPLX LP to Report Third-Quarter Results on November 3, 2026 (PR Newswire)
  • MPLX Targets Another 12.5% Distribution Raise Through 2027. Heres What Could Mean For The Stock. (TIKR)
  • MPLX LP 2025 K-3 tax packages now available on company website (PR Newswire)
  • SOLITUDE PIPELINE SYSTEM REACHES FINAL INVESTMENT DECISION TO TRANSPORT GAS FROM THE PERMIAN BASIN TO THE GULF COAST (PR Newswire)
  • MPLX LP prices $2.25 billion senior notes offering (PR Newswire)
  • Midstream Energy Player MPLX Offers Robust 7.2% Yield (Investor's Business Daily)
  • MPLX LP (MPLX) (Q2 2026) Earnings Call Highlights: Record Volumes and Strategic Expansion Drive ... (GuruFocus.com)

Quarterly earnings

2026Q3 EPS 1.150 beat 1.131, from 1.520 a year earlier. Sales 3,605 beat 3,354, from 3,619 a year earlier
EPS
1.52002024Q4 EPS 1.070 against 1.03824Q42025Q1 EPS 1.100 against 1.09725Q12025Q2 EPS 1.030 against 1.06125Q22025Q3 EPS 1.520 against 1.07325Q32025Q4 EPS 1.170 against 1.05625Q42026Q1 EPS 0.900 against 1.04626Q12026Q2 EPS 1.060 against 1.05826Q22026Q3 EPS 1.150 against 1.13126Q3
Sales, USD millions
3,61902024Q4 sales 3,063 against 3,07324Q42025Q1 sales 2,887 against 3,16425Q12025Q2 sales 2,788 against 3,13925Q22025Q3 sales 3,619 against 3,15925Q32025Q4 sales 3,252 against 3,17525Q42026Q1 sales 2,806 against 3,09326Q12026Q2 sales 3,082 against 3,14226Q22026Q3 sales 3,605 against 3,35426Q3

The outline behind the bar is the estimate. The filled bar is the print. Green beat it, red missed it.

PeriodReportedEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mSurpriseYear-ago quarterAnalystsNext session
2026Q3ended 2026-09-302026-11-03 08:301.1501.1311.1503,6053,354EPS +1.7% · sales +7.5%vs 2025Q3, year-ago quarter · EPS -24.3% · sales -0.4%12 EPS · 5 salesOpen +2.46% vs SPY +0.08%. Close -2.44% vs SPY +0.30%
2026Q2ended 2026-06-302026-08-04 08:301.0601.0581.0613,0823,142EPS +0.2% · sales -1.9%vs 2025Q2, year-ago quarter · EPS +2.9% · sales +10.5%11 EPS · 5 salesOpen +0.10% vs SPY +0.39%. Close +2.72% vs SPY +1.80%
2026Q1ended 2026-03-312026-05-05 08:300.9001.0460.8982,8063,093EPS -14.0% · sales -9.3%vs 2025Q1, year-ago quarter · EPS -18.2% · sales -2.8%11 EPS · 5 salesOpen -0.65% vs SPY +0.52%. Close -2.64% vs SPY +0.80%
2025Q4ended 2025-12-312026-02-03 08:301.1701.0561.1723,2523,175EPS +10.8% · sales +2.4%vs 2024Q4, year-ago quarter · EPS +9.3% · sales +6.2%10 EPS · 4 salesOpen +1.55% vs SPY +0.12%. Close -0.09% vs SPY -0.85%
2025Q3ended 2025-09-302025-11-04 08:301.5201.0731.5153,6193,159EPS +41.6% · sales +14.6%vs 2024Q3, year-ago quarter · EPS +50.5% · sales +21.8%10 EPS · 4 salesOpen +1.16% vs SPY -1.06%. Close +0.69% vs SPY -1.19%
2025Q2ended 2025-06-302025-08-05 08:301.0301.0611.0262,7883,139EPS -2.9% · sales -11.2%vs 2024Q2, year-ago quarter · EPS -10.4% · sales -8.7%10 EPS · 4 salesOpen -0.40% vs SPY +0.10%. Close -3.51% vs SPY -0.51%
2025Q1ended 2025-03-312025-05-06 08:301.1001.0971.1042,8873,164EPS +0.3% · sales -8.8%vs 2024Q1, year-ago quarter · EPS +12.2% · sales +1.4%10 EPS · 4 salesOpen +0.04% vs SPY -0.99%. Close -1.66% vs SPY -0.84%
2024Q4ended 2024-12-312025-02-04 08:301.0701.0381.0733,0633,073EPS +3.1% · sales -0.3%vs 2023Q4, year-ago quarter · EPS -2.7% · sales +3.3%10 EPS · 5 salesOpen -1.89% vs SPY +0.01%. Close +2.37% vs SPY +0.67%
2024Q3ended 2024-09-302024-11-05 08:301.0101.0451.0112,9723,092EPS -3.3% · sales -3.9%vs 2023Q3, year-ago quarter · EPS +13.5% · sales +2.1%10 EPS · 4 salesOpen +1.99% vs SPY +0.16%. Close +2.39% vs SPY +1.21%
2024Q2ended 2024-06-302024-08-06 08:301.1500.9791.1443,0522,958EPS +17.4% · sales +3.2%vs 2023Q2, year-ago quarter · EPS +26.4% · sales +13.5%10 EPS · 5 salesOpen +2.89% vs SPY +0.36%. Close +1.19% vs SPY +0.92%
2024Q1ended 2024-03-312024-04-30 08:300.9800.9790.9842,8462,895EPS +0.1% · sales -1.7%vs 2023Q1, year-ago quarter · EPS +7.7% · sales +4.9%9 EPS · 5 salesOpen +0.98% vs SPY -0.29%. Close -0.38% vs SPY -1.58%
2023Q4ended 2023-12-312024-01-30 08:301.1000.9481.1082,9662,878EPS +16.1% · sales +3.1%vs 2022Q4, year-ago quarter · EPS +41.0% · sales +11.4%10 EPS · 4 salesOpen +0.26% vs SPY -0.14%. Close +1.21% vs SPY -0.08%
2023Q3ended 2023-09-302023-10-31 08:300.8900.9740.8922,9122,793EPS -8.6% · sales +4.3%vs 2022Q3, year-ago quarter · EPS -34.6% · sales -14.4%11 EPS · 6 sales-
2023Q2ended 2023-06-302023-08-01 08:300.9100.8880.9092,6902,665EPS +2.5% · sales +0.9%vs 2022Q2, year-ago quarter · EPS +9.6% · sales -8.5%9 EPS · 4 sales-
2023Q1ended 2023-03-312023-05-02 08:300.9100.8300.9052,7132,554EPS +9.7% · sales +6.2%vs 2022Q1, year-ago quarter · EPS +16.7% · sales +3.9%9 EPS · 4 sales-
2022Q4ended 2022-12-312023-01-31 08:300.7800.8430.7812,6622,588EPS -7.5% · sales +2.9%vs 2021Q4, year-ago quarter · EPS 0.0% · sales -2.6%10 EPS · 5 sales-

Annual earnings

2025FY EPS 4.820 beat 4.639, from 4.210 a year earlier. Sales 12,998 beat 12,957, from 11,933 a year earlier
EPS
4.8200-0.8002018FY EPS 2.290 against 2.47020182019FY EPS 2.320 against 2.43320192020FY EPS -0.800 against -0.78920202021FY EPS 2.860 against 2.86120212022FY EPS 3.750 against 3.71620222023FY EPS 3.800 against 3.69920232024FY EPS 4.210 against 4.19220242025FY EPS 4.820 against 4.6392025
Sales, USD millions
12,99802018FY sales 6,425 against 6,04320182019FY sales 7,871 against 7,71920192020FY sales 7,569 against 7,58020202021FY sales 10,027 against 9,68220212022FY sales 11,613 against 10,99920222023FY sales 11,281 against 11,18120232024FY sales 11,933 against 11,95120242025FY sales 12,998 against 12,9572025

Reported years only. The outline behind the bar is the estimate. A later year with no print stays in the table.

earnings feed, not the snapshot. Not the statement ratio.

PeriodEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mP/E, earnings feed
2030FYestimate-5.460---10.36
2029FYestimate-5.495---10.30
2028FYestimate-5.113--15,11211.07
2027FYestimate-4.792--14,25511.81
2026FYestimate-4.301--12,93913.16
2025FY4.8204.6394.82012,99812,95711.07
2024FY4.2104.1924.20911,93311,95111.37
2023FY3.8003.6993.82111,28111,1819.66
2022FY3.7503.7163.75411,61310,9998.76
2021FY2.8602.8612.85910,0279,68210.35
2020FY-0.800-0.789-0.8017,5697,580-
2019FY2.3202.4331.0317,8717,71910.78
2018FY2.2902.4702.2906,4256,04312.99
2017FY1.0601.1831.8413,8673,80532.86
2016FY0.0030.2010.5572,5902,55211332.38
2015FY1.2201.4981.238703824.3346.39
2014FY1.5501.6231.550548.3545.6536.51
2013FY1.0501.0271.050486.3479.2753.90
2012FY0.1800.5300.180461.9287.36314.39

Quarterly results

2026Q3 revenue 3,352, from 2,949 a year earlier. Operating margin 36.6%, from 38.3% a year earlier
Revenue, USD millions
3,35202024Q4 revenue 2,89224Q42025Q1 revenue 2,93825Q12025Q2 revenue 2,83325Q22025Q3 revenue 2,94925Q32025Q4 revenue 3,09725Q42026Q1 revenue 2,86326Q12026Q2 revenue 3,12726Q22026Q3 revenue 3,35226Q3
Operating margin
42.602024Q4 operating margin 40.5%24Q42025Q1 operating margin 40.4%25Q12025Q2 operating margin 39.6%25Q22025Q3 operating margin 38.3%25Q32025Q4 operating margin 42.6%25Q42026Q1 operating margin 35.8%26Q12026Q2 operating margin 38.3%26Q22026Q3 operating margin 36.6%26Q3

From the quarterly statement. Not an estimate.

Estimate revisions

Latest snapshot of each period and type. 2026Q4 E 1.19 per share.
PeriodTypeScaleDateMeanvs prior date
2026Q4Eper share2026-11-111.190.0%
2026Q4Rper share2026-11-111.270.0%
2026FYSUSD millions2026-11-1112,9390.0%
2026Q4SUSD millions2026-11-113,5050.0%
2026FYEper share2026-11-104.30+0.2%
2026FYRper share2026-11-034.35+0.5%
2026Q3Eper share2026-11-021.130.0%
2026Q3SUSD millions2026-10-283,3540.0%
2026Q3Rper share2026-10-261.190.0%
2026Q2SUSD millions2026-07-293,1420.0%
2026Q2Eper share2026-07-281.06-0.4%
2026Q2Rper share2026-07-231.09-1.8%
2026Q1Eper share2026-04-241.05+0.0%
2026Q1Rper share2026-04-211.08-0.5%
2026Q1SUSD millions2026-04-213,093+0.3%
2025FYEper share2026-01-304.64+0.0%
2025Q4Eper share2026-01-301.06+0.1%
2025FYRper share2026-01-284.610.0%
2025FYSUSD millions2026-01-2812,9570.0%
2025Q4SUSD millions2026-01-283,1750.0%
2025Q4Rper share2026-01-211.04-1.4%
2025Q3Eper share2025-11-031.070.0%
2025Q3Rper share2025-10-231.08-1.6%
2025Q3SUSD millions2025-10-233,159-0.1%
2025Q2Eper share2025-07-251.06+0.0%
2025Q2Rper share2025-07-161.08+0.5%
2025Q2SUSD millions2025-07-163,139-1.3%
2025Q1Eper share2025-05-041.100.0%
2025Q1Rper share2025-05-041.140.0%
2025Q1SUSD millions2025-05-043,1640.0%
2024FYEper share2025-02-034.190.0%
2024Q4Eper share2025-02-031.040.0%
2024FYRper share2025-02-034.200.0%
2024Q4Rper share2025-02-031.020.0%
2024FYSUSD millions2025-02-0311,7820.0%
2024Q4SUSD millions2025-01-282,9980.0%
2024Q3Eper share2024-10-261.050.0%
2024Q3Rper share2024-10-261.090.0%
2024Q3SUSD millions2024-10-263,0920.0%
2024Q2Eper share2024-08-040.980.0%
2024Q2Rper share2024-08-040.990.0%
2024Q2SUSD millions2024-08-042,9580.0%
2024Q1Eper share2024-04-260.98+0.0%
2024Q1Rper share2024-04-191.01+0.5%
2024Q1SUSD millions2024-04-192,895-0.2%
2023FYSUSD millions2024-01-2911,1810.0%
2023FYEper share2024-01-273.700.0%
2023FYRper share2024-01-273.700.0%

Estimate history

Annual
Metric201720182019202020212022202320242025TTMMRQ
EPS per share1.8412.291.031-0.8012.8593.7543.8214.2094.8184.2776-
Sales USD millions3,7946,7528,7518,5059,70611,13710,67411,13011,81712,439-
Shares million shares4157941,0581,0391,0161,0011,0031,0171,015-1,013
Quarterly
MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
EPS per share1.0111.0731.1041.0261.5151.1720.8981.0611.147
Sales USD millions2,8232,8922,9382,8332,9493,0972,8633,1273,352
Shares million shares1,0191,0171,0211,0201,0171,0151,0151,0141,013

Income statement, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Total Revenue12,439.0011,817.00+6.2%11,130.00+4.3%10,674.00-4.2%11,137.00+14.7%9,706.00+14.1%8,505.00-2.8%8,751.00+29.6%6,752.00
Cost of Goods Sold Incl. D&A7,077.006,479.00+6.7%6,071.00+3.6%5,860.00-6.8%6,287.00+15.1%5,461.00+17.6%4,644.00-6.4%4,961.00+28.2%3,869.00
Gross Profit5,362.005,338.00+5.5%5,059.00+5.1%4,814.00-0.7%4,850.00+14.3%4,245.00+9.9%3,861.00+1.9%3,790.00+31.5%2,883.00
Selling, General and Administrative Excl. Other452.00443.00+3.7%427.00+15.4%370.00+10.8%334.00-8.0%363.00-4.0%378.00+1.1%374.00+19.9%312.00
Other Operating Expense141.00137.00+4.6%131.000.0%131.00+13.9%115.00-4.2%120.00-4.0%125.00+10.6%113.00+36.1%83.00
Operating Income4,769.004,758.00+5.7%4,501.00+4.4%4,313.00-2.0%4,401.00+17.0%3,762.00+12.0%3,358.00+1.7%3,303.00+32.8%2,488.00
Interest Expense1,293.001,051.00+14.1%921.00-0.2%923.00-0.2%925.00+5.2%879.00-1.9%896.00-2.1%915.00+28.2%714.00
Unusual Expense5.00-14.00-566.7%3.00-66.7%9.00-46.00-159.7%77.00-96.5%2,205.00+82.2%1,210.00-1.00
Net Income Before Taxes4,394.004,960.00+13.6%4,367.00+9.8%3,977.00-0.2%3,986.00+28.0%3,113.00-685.00-146.9%1,462.00-27.4%2,014.00
Income Taxes8.008.00-20.0%10.00-9.1%11.00+37.5%8.00+700.0%1.00-50.0%2.000.00-100.0%8.00
Consolidated Net Income4,383.004,949.00+13.8%4,350.00+9.7%3,966.00-0.3%3,978.00+27.8%3,112.00-687.00-164.8%1,061.00-42.1%1,834.00
Net Income From Continuing Operations4,343.004,909.00+13.9%4,310.00+9.7%3,928.00-0.4%3,944.00+28.2%3,077.00-720.00-169.7%1,033.00-43.2%1,818.00
Net Income4,343.004,909.00+14.7%4,281.00+11.8%3,829.00+1.0%3,791.00+29.1%2,936.00-842.00-190.1%935.00-46.4%1,743.00
EPS (Recurring) per share4.294.81+14.3%4.21+9.9%3.83+3.0%3.72+27.8%2.91+334.3%0.67-65.8%1.96-14.4%2.29
EPS (Basic, Before Extraordinaries) per share4.284.82+14.5%4.21+9.9%3.83+2.1%3.75+31.1%2.86-0.80-177.7%1.03-55.0%2.29
EPS (Diluted) per share4.284.82+14.5%4.21+10.2%3.82+1.9%3.75+31.1%2.86-0.80-177.7%1.03-55.0%2.29
EBITDA6,225.006,109.00+5.6%5,784.00+4.7%5,526.00-1.9%5,631.00+11.5%5,049.00+6.6%4,735.00+3.9%4,557.00+35.8%3,355.00
Non-Operating Income (Expense)847.001,239.00+56.8%790.00+32.6%596.00+28.4%464.00+51.1%307.00-942.00-431.7%284.00+18.8%239.00
Other After Tax Adjustments-3.00-3.00-7.000.000.000.000.00-401.00-172.00
Stock Option Compensation Expense-----9.00-35.7%14.00-36.4%22.00+21.1%18.17
Price To Earnings Ratio ratio statement ratio, not the snapshot13.2313.2311.2710.538.6910.35-20.8712.94
Price To Sales Ratio ratio4.594.604.373.452.983.132.682.643.42
Gross Margin %43.1145.1745.4545.1043.5543.7445.4043.3142.70
Operating Margin %38.3440.2640.4440.4139.5238.7639.4837.7436.85
Net Margin %34.9141.5438.4635.8734.0430.25-9.9010.6825.81
Shares Outstanding million shares1,013.001,015.00-0.2%1,017.00+1.3%1,003.50+0.2%1,001.42-1.5%1,016.42-2.2%1,038.78-1.9%1,058.36+33.3%794.09
Market Capitalization57,327.3757,327.37+17.6%48,760.25+32.6%36,764.80+11.6%32,946.40+9.2%30,177.66+36.5%22,114.52-16.4%26,461.06+12.0%23,624.59

Income statement, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Total Revenue3,352.00+13.7%3,127.00+10.4%2,863.00-2.6%3,097.00+7.1%2,949.00+4.5%2,833.00+3.9%2,938.00+9.3%2,892.00+3.3%
Cost of Goods Sold Incl. D&A1,960.00+18.2%1,788.00+13.5%1,689.00+5.2%1,640.00+3.4%1,658.00+6.6%1,575.00+5.7%1,606.00+11.5%1,586.00+8.7%
Gross Profit1,392.00+7.8%1,339.00+6.4%1,174.00-11.9%1,457.00+11.6%1,291.00+1.8%1,258.00+1.7%1,332.00+6.6%1,306.00-2.6%
Selling, General and Administrative Excl. Other129.00+2.4%108.00+3.8%114.00+1.8%101.00-2.9%126.00+17.8%104.00-2.8%112.00+2.8%104.00+5.1%
Other Operating Expense35.00-2.8%34.00+6.3%36.00+9.1%36.00+12.5%36.00+12.5%32.00-3.0%33.00-2.9%32.00+10.3%
Operating Income1,228.00+8.8%1,197.00+6.7%1,024.00-13.7%1,320.00+12.8%1,129.000.0%1,122.00+2.3%1,187.00+7.3%1,170.00-3.5%
Interest Expense312.00+20.5%300.00+20.0%310.00+31.9%295.00+28.8%259.00+14.6%250.00+8.2%235.000.0%229.00+3.2%
Unusual Expense19.002.00-6.00-250.0%-10.00-4.00-4.004.00-50.0%-5.00-600.0%
Net Income Before Taxes1,176.00-24.5%1,089.00+2.8%923.00-18.8%1,206.00+8.3%1,558.00+48.5%1,059.00-10.9%1,137.00+11.9%1,114.00-3.4%
Income Taxes2.00-33.3%2.00+100.0%1.000.0%3.00-40.0%3.00+50.0%1.00-50.0%1.000.0%5.00-44.4%
Consolidated Net Income1,173.00-24.5%1,087.00+2.7%921.00-18.9%1,202.00+8.4%1,554.00+48.4%1,058.00-10.5%1,136.00+12.3%1,109.00-3.1%
Net Income From Continuing Operations1,163.00-24.7%1,077.00+2.8%911.00-19.1%1,192.00+8.5%1,544.00+48.9%1,048.00-10.6%1,126.00+12.4%1,099.00-3.1%
Net Income1,163.00-24.7%1,077.00+2.8%911.00-19.1%1,192.00+9.1%1,544.00+49.8%1,048.00-10.2%1,126.00+13.5%1,093.00-1.6%
EPS (Recurring) per share1.16-23.2%1.06+3.9%0.89-19.8%1.17+9.3%1.51+49.5%1.02-10.5%1.11+12.1%1.07-3.6%
EPS (Basic, Before Extraordinaries) per share1.15-24.3%1.06+2.9%0.90-18.2%1.17+9.3%1.52+50.5%1.03-10.4%1.10+12.2%1.07-3.6%
EPS (Diluted) per share1.15-24.3%1.06+2.9%0.90-18.2%1.17+9.3%1.52+50.5%1.03-9.6%1.10+12.2%1.07-3.6%
EBITDA1,606.00+8.9%1,562.00+8.0%1,382.00-8.7%1,675.00+12.1%1,475.00+1.7%1,446.00+2.0%1,513.00+6.3%1,494.00-1.6%
Non-Operating Income (Expense)279.00-59.2%194.00+6.0%203.00+7.4%171.00+1.8%684.00+368.5%183.00-43.2%189.00+23.5%168.00+3.1%
Other After Tax Adjustments-1.000.00-1.00-1.00-1.000.000.000.00
Price To Earnings Ratio ratio statement ratio, not the snapshot13.2312.2211.8511.3111.8511.8912.7111.27
Price To Sales Ratio ratio4.594.754.934.594.384.584.804.38
Gross Margin %41.5342.8241.0147.0543.7844.4145.3445.16
Operating Margin %36.6338.2835.7742.6238.2839.6040.4040.46
Net Margin %34.7034.4431.8238.4952.3636.9938.3337.79
Shares Outstanding million shares1,013.00-0.4%1,014.00-0.6%1,015.00-0.6%1,015.00-0.2%1,017.00-0.2%1,020.00-0.1%1,021.00+1.0%1,017.00+1.3%
Market Capitalization57,327.37+12.6%57,159.74+8.7%57,937.46+5.9%54,281.03+11.3%50,902.55+12.2%52,581.41+21.5%54,724.74+30.3%48,760.25+32.6%

Balance sheet, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/20182017FY12/31/2017
Cash & Short Term Investments2,137.00+40.7%1,519.00+44.9%1,048.00+340.3%238.00+1730.8%13.00-13.3%15.000.0%15.00-82.4%85.00+844.4%9.00
Short Term Receivables1,643.00+6.4%1,544.00-1.2%1,562.00+5.6%1,479.00+12.4%1,316.00+13.1%1,164.00-9.0%1,279.00+6.8%1,198.00+165.0%452.00
Inventories172.00-4.4%180.00+13.2%159.00+7.4%148.00+4.2%142.00+20.3%118.00+7.3%110.00+12.2%98.00+50.8%65.00
Other Current Assets42.00+27.3%33.00-15.4%39.00-2.5%40.00+11.1%36.00-83.5%218.00+172.5%80.00+35.6%59.00+78.8%33.00
Total Current Assets3,994.00+21.9%3,276.00+16.7%2,808.00+47.4%1,905.00+26.4%1,507.00-0.5%1,515.00+2.1%1,484.00+3.1%1,440.00+157.6%559.00
Net Property, Plant & Equipment22,213.00+13.0%19,653.00-0.5%19,755.00+2.0%19,359.00-5.7%20,539.00-5.6%21,758.00-4.3%22,742.00+5.7%21,525.00+76.6%12,187.00
Total Investments and Advances4,798.00+5.9%4,531.00+21.1%3,743.00-8.6%4,095.00+2.9%3,981.00-1.4%4,036.00-23.5%5,275.00+7.6%4,901.00+22.2%4,010.00
Long-Term Note Receivable460.00-34.8%705.00-12.7%808.00-11.2%910.00-2.4%932.00+111.3%441.00+521.1%71.00+195.8%24.00+20.0%20.00
Intangible Assets10,152.00+24.4%8,163.00-1.6%8,299.00-0.6%8,350.00-1.6%8,488.00-1.5%8,616.00-20.3%10,806.00-5.0%11,375.00+321.6%2,698.00
Other Assets1,388.00+17.3%1,183.00+6.0%1,116.00+6.7%1,046.00+1643.3%60.00+25.0%48.00-7.7%52.00-13.3%60.00+130.8%26.00
Total Assets43,005.00+14.6%37,511.00+2.7%36,529.00+2.4%35,665.00+0.4%35,507.00-2.5%36,414.00-9.9%40,430.00+2.8%39,325.00+101.7%19,500.00
Short Term Debt Incl. Current Port. of LT Debt1,557.00-10.5%1,740.00+47.3%1,181.00+14.0%1,036.00+84.7%561.00-32.4%830.00+992.1%76.000.00-100.0%386.00
Accounts Payable108.00-26.5%147.00-3.9%153.00-31.7%224.00+30.2%172.00-53.1%367.00-68.2%1,153.00+84.2%626.00+122.8%281.00
Income Tax Payable--------38.00
Other Current Liabilities1,584.00+17.5%1,348.00+4.5%1,290.00+13.1%1,141.00-56.4%2,615.00+194.2%889.00-1.6%903.00-45.0%1,642.00+174.1%599.00
Total Current Liabilities3,249.00+0.4%3,235.00+23.3%2,624.00+9.3%2,401.00-28.3%3,348.00+60.5%2,086.00-2.2%2,132.00-6.0%2,268.00+73.9%1,304.00
Long Term Debt24,605.00+24.9%19,696.00-0.2%19,733.00+2.4%19,266.00+4.1%18,505.00-6.8%19,848.00-1.9%20,236.00+12.9%17,922.00+158.1%6,945.00
Provision for Risks Charges45.000.000.000.000.000.000.000.000.00
Deferred Tax Liabilities25.00+38.9%18.00+12.5%16.00+23.1%13.00+30.0%10.00-16.7%12.000.0%12.00-14.3%14.00+180.0%5.00
Other Liabilities553.00+0.2%552.00-3.5%572.00+21.4%471.00-24.9%627.00+29.8%483.00+3.0%469.00+21.5%386.00+41.4%273.00
Total Liabilities28,477.00+21.2%23,501.00+2.4%22,945.00+3.6%22,151.00-1.5%22,490.00+0.3%22,429.00-1.8%22,849.00+11.0%20,590.00+141.5%8,527.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.00-100.0%203.00-77.3%895.00-43.3%1,579.00+0.2%1,576.00-0.2%1,579.000.0%1,579.00+57.3%1,004.00+0.4%1,000.00
Common Equity14,301.00+5.3%13,576.00+9.0%12,454.00+6.5%11,698.00+4.4%11,200.00-7.9%12,161.00-22.8%15,753.00-10.4%17,575.00+78.8%9,827.00
Total Shareholders Equity14,301.00+3.8%13,779.00+3.2%13,349.00+0.5%13,277.00+3.9%12,776.00-7.0%13,740.00-20.7%17,332.00-6.7%18,579.00+71.6%10,827.00
Accumulated Minority Interest227.00-1.7%231.00-1.7%235.00-0.8%237.00-1.7%241.00-1.6%245.00-1.6%249.00+59.6%156.00+6.8%146.00
Total Equity14,528.00+3.7%14,010.00+3.1%13,584.00+0.5%13,514.00+3.8%13,017.00-6.9%13,985.00-20.5%17,581.00-6.2%18,735.00+70.7%10,973.00
Total Liabilities & Stockholders Equity43,005.00+14.6%37,511.00+2.7%36,529.00+2.4%35,665.00+0.4%35,507.00-2.5%36,414.00-9.9%40,430.00+2.8%39,325.00+101.7%19,500.00
Book Value Per Share per share14.09+5.5%13.35+7.6%12.41+6.3%11.68+6.0%11.02-5.9%11.71-21.3%14.88-32.8%22.13-6.4%23.65
Tangible Book Value Per Share per share4.09-23.1%5.32+28.5%4.14+24.0%3.34+25.1%2.67-21.7%3.41-27.0%4.67-40.2%7.81-54.5%17.16
Full-Time Employees people5,762+3.6%5,560-4.3%5,8100.0%5,811-0.4%5,836+2.4%5,700-8.1%6,200+37.8%4,500+4.7%4,300
Price to Book Ratio ratio4.083.603.042.792.691.821.683.521.48
Return on Assets %12.1911.6410.8811.088.56-1.873.276.184.39
Return on Equity %34.9631.7829.5030.2823.21-4.638.2512.367.52
Return on Invested Capital %12.6212.8811.8712.129.84-2.142.754.984.47
Quick Ratio ratio1.180.961.010.730.410.670.640.590.38
Current Ratio ratio1.231.011.070.790.450.730.700.630.43

Cash flow, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Net Income4,386.004,952.00+13.7%4,357.00+9.9%3,966.00-0.3%3,978.00+27.8%3,112.00-687.00-147.0%1,462.00-27.1%2,006.00
Depreciation1,456.001,351.00+5.3%1,283.00+5.8%1,213.00-1.4%1,230.00-4.4%1,287.00-6.5%1,377.00+9.8%1,254.00+44.6%867.00
Other Funds (Non Cash)19.00-465.00-901.7%58.00-34.1%88.00-336.00-204.3%322.00-91.4%3,748.00+152.4%1,485.00+540.1%232.00
Funds from Operations5,867.005,845.00+2.5%5,700.00+8.2%5,270.00+8.1%4,875.00+3.3%4,719.00+6.4%4,437.00+5.7%4,199.00+34.9%3,113.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital155.0064.00-74.0%246.00+89.2%130.00-16.1%155.00-32.0%228.00+10.1%207.00-99.00-26.00
Cash from Operating Activities6,022.005,909.00-0.6%5,946.00+10.1%5,400.00+7.4%5,030.00+1.7%4,947.00+6.5%4,644.00+13.3%4,100.00+32.8%3,087.00
Capital Expenditures-2,909.00-1,808.00-1,056.00-937.00-806.00-529.00-1,183.00-2,408.00-2,111.00
Net Assets From Acquisitions0.00-3,316.00-622.00-246.00-28.000.000.000.00-451.00
Sale of Fixed Assets and Businesses1,000.00975.00+97400.0%1.00-96.2%26.00-69.0%84.00-33.3%126.00+125.0%56.00-57.3%131.00+589.5%19.00
Purchase or Sale of Investments-770.00-715.00-464.00-98.00-217.00-151.00-266.00-713.00-341.00
Purchase of Investments-952.00-1,008.00-464.00-98.00-217.00-151.00-266.00-713.00-341.00
Sale Or Maturity of Investments182.00293.000.000.000.000.000.000.000.00
Other Uses0.000.000.000.000.000.000.000.000.00
Other Sources-96.008.00-94.5%146.000.000.000.00-100.0%8.00+100.0%4.00+300.0%1.00
Cash from Investing Activities-2,775.00-4,856.00-1,995.00-1,255.00-967.00-554.00-1,385.00-2,986.00-2,883.00
Cash Dividends Paid-4,372.00-4,024.00-3,603.00-3,296.00-3,047.00-3,573.00-3,006.00-3,039.00-6,240.00
Change in Capital Stock-250.00-400.00-326.000.00-491.00-630.00-33.000.000.00
Repurchase of Common Pref Stock-250.00-400.00-326.000.00-491.00-630.00-33.000.000.00
Sale of Common Pref Stock0.000.000.000.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net923.004,014.00+765.1%464.00-19.0%573.00-302.00-196.00-223.00-112.2%1,824.00-69.9%6,069.00
Change in Long Term Debt923.004,014.00+765.1%464.00-19.0%573.00-302.00-196.00-223.00-112.2%1,824.00-69.9%6,069.00
Issuance of Long Term Debt3,960.006,528.00+304.2%1,615.00+2.6%1,574.00-75.2%6,339.00-50.0%12,668.00-2.9%13,049.00-29.3%18,467.00+6.4%17,362.00
Reduction of Long Term Debt-3,037.00-2,514.00-1,151.00-1,001.00-6,641.00-12,864.00-13,272.00-16,643.00-11,293.00
Net Financing Active Other Cash Flow-16.00-25.00-15.00-612.00-30700.0%2.00-50.0%4.00+33.3%3.00-90.3%31.00-27.9%43.00
Other Financing Activities Uses-44.00-49.00-50.00-643.00-42.00-41.00-47.00-43.00-17.00
Cash from Financing Activities-3,715.00-435.00-3,480.00-3,335.00-3,838.00-4,395.00-3,259.00-1,184.00-128.00
Net Change in Cash-468.00618.00+31.2%471.00-41.9%810.00+260.0%225.00-2.000.00-70.00-192.1%76.00
Free Cash Flow3,113.004,101.00-16.1%4,890.00+9.6%4,463.00+5.7%4,224.00-4.4%4,418.00+27.7%3,461.00+104.6%1,692.00+73.4%976.00
Preferred Dividends (Cash Flow)--6.00-44.00-115.00-126.00-141.00-122.00-604.00-310.00
Price to Free Cash Flow ratio-706.2937.8231.5328.1835.9650.01--
Deferred Taxes & Investment Tax Credit-7.00+250.0%2.00-33.3%3.000.0%3.00-2.00-1.00-2.00-125.0%8.00

Balance sheet, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Cash & Short Term Investments1,297.00-26.5%1,031.00-25.6%1,506.00-40.6%2,137.00+40.7%1,765.00-27.2%1,386.00-44.6%2,534.00+558.2%1,519.00+44.9%
Short Term Receivables1,842.00+16.6%1,594.00+2.5%1,773.00+1.3%1,643.00+6.4%1,580.00+0.5%1,555.00+4.9%1,750.00+14.7%1,544.00-1.2%
Inventories203.00+16.0%200.00+4.2%178.00-4.3%172.00-4.4%175.00+2.3%192.00+14.3%186.00+14.1%180.00+13.2%
Other Current Assets54.00-95.0%51.00+27.5%65.00+27.5%42.00+27.3%1,075.00+2093.9%40.00-11.1%51.00-21.5%33.00-15.4%
Total Current Assets3,396.00-26.1%2,876.00-9.4%3,522.00-22.1%3,994.00+21.9%4,595.00+8.9%3,173.00-24.4%4,521.00+111.4%3,276.00+16.7%
Net Property, Plant & Equipment23,568.00+7.9%23,144.00+17.5%22,499.00+14.5%22,213.00+13.0%21,847.00+11.2%19,689.000.0%19,657.00-0.8%19,653.00-0.5%
Total Investments and Advances5,446.00+13.6%5,149.00+2.5%4,981.00+4.8%4,798.00+5.9%4,792.00+5.1%5,024.00+14.9%4,751.00+9.4%4,531.00+21.1%
Intangible Assets10,012.00-1.6%10,056.00+23.5%10,095.00+23.5%10,152.00+24.4%10,175.00+24.1%8,142.00-1.1%8,174.00-1.1%8,163.00-1.6%
Other Assets1,473.00+13.4%1,410.00+14.4%1,451.00+20.3%1,388.00+17.3%1,299.00+12.4%1,232.00+10.4%1,206.00+8.2%1,183.00+6.0%
Total Assets44,184.00+2.2%42,969.00+13.6%42,933.00+10.2%43,005.00+14.6%43,227.00+12.2%37,841.00-1.5%38,972.00+6.9%37,511.00+2.7%
Short Term Debt Incl. Current Port. of LT Debt57.00-96.3%1,306.00-15.6%1,306.00-52.4%1,557.00-10.5%1,551.00-46.3%1,548.00-46.2%2,745.00+62.4%1,740.00+47.3%
Accounts Payable200.00+52.7%155.00+4.0%126.00-13.1%108.00-26.5%131.00+9.2%149.00+17.3%145.00+9.8%147.00-3.9%
Other Current Liabilities1,918.00+5.4%1,763.00+28.5%1,760.00+37.6%1,584.00+17.5%1,820.00+44.3%1,372.00+12.4%1,279.00+12.4%1,348.00+4.5%
Total Current Liabilities2,175.00-37.9%3,224.00+5.1%3,192.00-23.4%3,249.00+0.4%3,502.00-17.9%3,069.00-27.4%4,169.00+40.8%3,235.00+23.3%
Long Term Debt27,033.00+9.9%24,827.00+23.1%24,828.00+23.1%24,605.00+24.9%24,587.00+24.9%20,165.00+2.4%20,170.00+4.7%19,696.00-0.2%
Provision for Risks Charges0.000.000.0045.000.000.000.000.00
Deferred Tax Liabilities26.00+30.0%25.00+38.9%25.00+38.9%25.00+38.9%20.00+25.0%18.00+12.5%18.00+12.5%18.00+12.5%
Other Liabilities659.00+2.6%641.00+18.7%591.00+8.0%553.00+0.2%642.00+15.1%540.00-6.7%547.00-5.2%552.00-3.5%
Total Liabilities29,893.00+4.0%28,717.00+20.7%28,636.00+15.0%28,477.00+21.2%28,751.00+17.2%23,792.00-3.0%24,904.00+9.2%23,501.00+2.4%
Non-Equity Reserves0.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.00-100.0%0.00-100.0%0.00-100.0%0.00-100.0%203.00-77.3%
Common Equity14,067.00-1.6%14,027.00+1.5%14,071.00+1.7%14,301.00+5.3%14,296.00+5.5%13,820.00+2.7%13,838.00+7.7%13,576.00+9.0%
Total Shareholders Equity14,067.00-1.6%14,027.00+1.5%14,071.00+1.7%14,301.00+3.8%14,296.00+4.0%13,820.00+1.2%13,838.00+3.2%13,779.00+3.2%
Accumulated Minority Interest224.00-1.8%225.00-1.7%226.00-1.7%227.00-1.7%228.00-1.7%229.00-1.7%230.00-1.7%231.00-1.7%
Total Equity14,291.00-1.6%14,252.00+1.4%14,297.00+1.6%14,528.00+3.7%14,524.00+3.9%14,049.00+1.2%14,068.00+3.1%14,010.00+3.1%
Total Liabilities & Stockholders Equity44,184.00+2.1%42,969.00+13.6%42,933.00+10.2%43,005.00+14.6%43,275.00+12.4%37,841.00-1.5%38,972.00+6.9%37,511.00+2.7%
Book Value Per Share per share13.89-1.2%13.83+2.1%13.86+2.3%14.09+5.5%14.06+5.8%13.55+2.9%13.55+6.6%13.35+7.6%
Tangible Book Value Per Share per share4.00-1.2%3.92-29.6%3.92-29.4%4.09-23.1%4.05-22.9%5.57+9.0%5.55+22.2%5.32+28.5%
Full-Time Employees people---5,762+3.6%---5,560-4.3%
Price to Book Ratio ratio4.084.064.053.803.693.804.013.60
Return on Assets %9.9411.6911.4612.2011.7911.3111.7611.64
Return on Equity %30.6233.9333.6534.9734.3531.3832.5431.78
Return on Invested Capital %2.832.772.343.063.973.083.313.28
Quick Ratio ratio1.470.831.051.181.260.971.040.96
Current Ratio ratio1.560.891.101.231.311.031.081.01

Cash flow, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Net Income1,174.00-24.5%1,087.00+2.7%922.00-18.8%1,203.00+8.5%1,555.00+48.5%1,058.00-10.8%1,136.00+11.9%1,109.00-3.1%
Depreciation378.00+9.2%365.00+12.7%358.00+9.8%355.00+9.6%346.00+7.5%324.00+1.2%326.00+2.8%324.00+5.9%
Other Funds (Non Cash)-24.001.00-97.2%127.00+693.8%-85.00-237.1%-432.00-620.5%36.0016.00-33.3%62.00
Funds from Operations1,528.00+3.9%1,453.00+2.5%1,407.00-4.8%1,479.00-1.2%1,471.00+1.3%1,417.00+1.6%1,478.00+9.0%1,497.00+4.7%
Extraordinary Item0.000.000.000.000.000.000.000.00
Changes in Working Capital-51.00249.00-21.9%-60.0017.00-90.4%-40.00319.00+87.6%-232.00178.00+187.1%
Cash from Operating Activities1,477.00+3.2%1,702.00-2.0%1,347.00+8.1%1,496.00-10.7%1,431.00+1.1%1,736.00+10.9%1,246.00-3.5%1,675.00+12.3%
Capital Expenditures-795.00-825.00-575.00-714.00-526.00-301.00-267.00-308.00
Net Assets From Acquisitions0.000.000.000.00-3,079.000.00-237.000.00
Sale of Fixed Assets and Businesses8.000.0018.00+1700.0%974.00+97300.0%0.000.001.001.000.0%
Purchase or Sale of Investments-247.00-203.00-238.00-82.00-226.00-309.00-98.00-50.00
Purchase of Investments-279.00-203.00-238.00-232.00-309.00-348.00-119.00-50.00
Sale Or Maturity of Investments32.00-61.4%0.00-100.0%0.00-100.0%150.0083.0039.0021.000.00
Other Uses0.000.000.000.000.000.000.000.00
Other Sources0.00-100.0%0.00-100.0%4.00-100.00-1350.0%100.00+2400.0%8.00-94.0%0.008.00
Cash from Investing Activities-1,034.00-1,028.00-791.0078.00-3,731.00-602.00-601.00-349.00
Cash Dividends Paid-1,092.00-1,092.00-1,093.00-1,095.00-975.00-976.00-978.00-980.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00-6.00-6.00
Change in Capital Stock-50.00-50.00-50.00-100.00-100.00-100.00-100.00-100.00
Repurchase of Common Pref Stock-50.00-50.00-50.00-100.00-100.00-100.00-100.00-100.00
Sale of Common Pref Stock0.000.000.000.000.000.000.000.00
Proceedsfrom Stock Options0.000.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net960.00-74.5%-5.00-31.00-102.1%-1.003,759.00-1,202.00-174.4%1,458.00-1,150.00
Change in Long Term Debt960.00-74.5%-5.00-31.00-102.1%-1.003,759.00-1,202.00-174.4%1,458.00-1,150.00
Issuance of Long Term Debt2,442.00-46.0%-5.001,474.00-24.7%49.004,521.000.00-100.0%1,958.000.00
Reduction of Long Term Debt-1,482.000.00-1,505.00-50.00-762.00-1,202.00-500.00-1,150.00
Net Financing Active Other Cash Flow5.00-2.00-13.00-6.00-5.00-4.00-10.00-3.00-400.0%
Other Financing Activities Uses-10.00-7.00-17.00-10.00-11.00-11.00-17.00-12.00
Cash from Financing Activities-177.00-106.6%-1,149.00-1,187.00-420.8%-1,202.002,679.00-2,282.00-443.2%370.00-2,233.00
Net Change in Cash266.00-29.8%-475.00-631.00-162.2%372.00379.00-1,148.00-154.3%1,015.00-907.00-1130.7%
Free Cash Flow682.00-24.6%877.00-38.9%772.00-21.1%782.00-42.8%905.00-20.3%1,435.00+6.1%979.00-5.5%1,367.00+12.3%
Price to Free Cash Flow ratio---704.9065.5147.4248.4037.89

Revenue breakdown

USD millions, so a column adds up to the income statement. Share is of the latest year in that split. The change is versus the older year shown, not TTM.

Product
Name20242025vs 20242025 share
Product2,239.002,434.00+8.7%25.0%
Service6,950.007,292.00+4.9%75.0%
Total9,189.009,726.00+5.8%100.0%
Region
Name20242025vs 20242025 share
United States9,189.009,726.00+5.8%100.0%
Total9,189.009,726.00+5.8%100.0%
Segment
Name20242025vs 20242025 share
Crude Oil and Products Logistics4,561.004,840.00+6.1%49.8%
Natural Gas and NGL Services4,628.004,886.00+5.6%50.2%
Total9,189.009,726.00+5.8%100.0%

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-301.89%6.8M362.4M1.31M
2026-10-151.79%6.5M362.7M1.40M
2026-09-301.84%6.7M362.7M1.41M
2026-09-151.83%6.6M362.7M1.37M
2026-08-312.03%7.3M362.7M1.42M
2026-08-142.05%7.5M363.3M1.54M
2026-07-312.11%7.7M363.4M1.74M
2026-07-151.95%7.1M363.7M1.87M
2026-06-301.64%6.0M363.7M2.00M
2026-06-151.83%6.6M363.7M2.03M
2026-05-291.77%6.5M364.0M2.02M
2026-05-151.83%6.6M364.0M2.01M
2026-04-301.94%7.0M363.2M1.96M
2026-04-152.24%8.2M363.4M1.79M
2026-03-312.14%7.8M364.7M1.72M
2026-03-132.10%7.6M364.7M1.67M
2026-02-271.95%7.1M364.7M1.63M
2026-02-132.06%7.5M365.4M1.61M
2026-01-302.00%7.3M365.5M1.54M
2026-01-152.01%7.3M365.5M1.55M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call30.0026.2027.5030.193.4300.000.000.990-0.0150.002
call35.0021.3022.5022.002.7230.000.000.987-0.0140.002
call40.0016.1017.5015.502.1301.000.000.984-0.0140.003
call45.0011.4012.5011.201.5760.000.000.978-0.0130.004
call50.006.407.507.401.04910.000.000.966-0.0110.006
call52.503.905.004.100.7781120.000.915-0.0240.013
call55.001.602.151.700.3823370.000.763-0.0380.025
call57.500.200.400.330.23728619.000.307-0.0390.029
call60.000.000.050.030.2544,2098.000.065-0.0170.011
call62.500.000.350.030.38514.000.000.040-0.0170.007
call65.000.000.050.030.5022,3811.000.032-0.0190.006
call67.500.002.600.000.6120.000.000.027-0.0200.005
call70.000.000.600.000.7150.000.000.023-0.0210.005
call75.000.002.350.000.9020.000.000.019-0.0220.004
call80.000.001.250.001.0730.000.000.016-0.0230.003
call85.000.000.600.001.2280.000.000.015-0.0240.003
put30.000.002.550.051.9301.000.00-0.009-0.0240.002
put35.000.000.050.001.4230.000.00-0.011-0.0200.003
put40.000.002.150.151.12333.000.00-0.014-0.0220.003
put45.000.000.600.070.78243.000.00-0.020-0.0200.004
put50.000.000.050.010.4631640.00-0.032-0.0180.006
put52.500.002.550.150.30693.000.00-0.083-0.0310.013
put55.000.050.150.100.1993,8513.00-0.231-0.0440.025
put57.500.901.251.050.2004550.00-0.691-0.0450.029
put60.002.803.603.370.3161,1310.00-0.933-0.0230.011
put62.505.106.204.150.5400.000.00-0.959-0.0230.007
put65.007.608.700.000.6870.000.00-0.967-0.0240.006
put67.5010.1011.200.000.8220.000.00-0.972-0.0250.005
put70.0012.6013.800.001.0430.000.00-0.975-0.0250.005
put75.0017.6018.800.001.2700.000.00-0.979-0.0260.004
put80.0022.6023.700.001.3860.000.00-0.982-0.0270.003
put85.0027.6028.900.001.7900.000.00-0.984-0.0270.003

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-124Statement of changes in beneficial ownership of securities2026-11-10SEC
2026-11-10144Filing for proposed sale of securities under Rule 144.SEC
2026-11-0310-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-11-038-KCurrent report2026-11-03SEC
2026-11-034Statement of changes in beneficial ownership of securities2026-11-01SEC
2026-11-034Statement of changes in beneficial ownership of securities2026-11-01SEC
2026-11-023Initial statement of beneficial ownership of securities2026-11-01SEC
2026-11-023Initial statement of beneficial ownership of securities2026-11-01SEC
2026-10-298-KCurrent report2026-10-27SEC
2026-08-248-KCurrent report2026-08-24SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-184Statement of changes in beneficial ownership of securities2026-08-14SEC
2026-08-11424B5SEC
2026-08-10FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-08-10424B5SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-054/A2026-04-30SEC
2026-08-0410-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-08-048-KCurrent report2026-08-04SEC
2026-05-194Statement of changes in beneficial ownership of securities2026-05-15SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-1100199.27K1
2026-100000
2026-090000
2026-080000
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-020000
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
ALPS ADVISORS INC3.00%
Invesco Ltd.1.81%
Blackstone Inc.1.28%
GOLDMAN SACHS GROUP INC1.12%
TORTOISE CAPITAL ADVISORS, L.L.C.1.03%
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.0.79%
KAYNE ANDERSON CAPITAL ADVISORS LP0.57%
Energy Income Partners, LLC0.53%
MORGAN STANLEY0.52%
CHICKASAW CAPITAL MANAGEMENT LLC0.51%

Funds

Fund% owned
PGIM Ultra Short Bond ETF4.93%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND3.45%
VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND3.20%
Alerian MLP ETF2.84%
MFS Total Return Bond Fund2.70%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund2.62%
Navigator Tactical Fixed Income Fund2.49%
VANGUARD SHORT-TERM INVESTMENT-GRADE FUND2.36%
PIMCO Dynamic Income Strategy Fund2.15%
JPMorgan Short Duration Core Plus Fund1.84%

OakChart. MPLX. Cached 15 minutes. Terms