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HF Sinclair vs Mplx: revenue, profit, margins and growth compared

HF Sinclair brought in $26.9B of revenue in fiscal 2025, Mplx $13B in fiscal 2025. Revenue changed by -6.0% at HF Sinclair and +8.9% at Mplx on the year before, so Mplx grew faster. HF Sinclair kept 2.2% of its revenue as net profit, Mplx 37.8%. Free cash flow was $866M at HF Sinclair and $4.1B at Mplx.

Side by side, latest fiscal year

DINOMPLX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$26.9B$13B
Revenue growth-6.0%+8.9%
Net income$579M$4.9B
Net margin2.2%37.8%
Free cash flow$866M$4.1B
Free cash flow margin3.2%31.6%
Earnings per share (diluted)$3.08n/a
Cash$978M$2.1B
Debt$2.8B$26B
Price to earnings34.5n/a
Market value$18.9B$58.5B
Dividend yield1.88%n/a
Rank by revenue in sector#17 of 163 · Energy#27 of 163 · Energy

Over the years

Revenue
DINO FY2020: $11.2BDINO FY2022: $18.4BDINO FY2022: $38.2BDINO FY2023: $32BDINO FY2024: $28.6BDINO FY2025: $26.9BMPLX FY2018: $7BMPLX FY2019: $9BMPLX FY2020: $7.6BMPLX FY2021: $10BMPLX FY2022: $11.6BMPLX FY2023: $11.3BMPLX FY2024: $11.9BMPLX FY2025: $13BFY18FY19FY20FY21FY22FY23FY24FY25
DINO $26.9BMPLX $13B
Net income
DINO FY2020: -$601.4MDINO FY2022: $558.3MDINO FY2022: $2.9BDINO FY2023: $1.6BDINO FY2024: $177MDINO FY2025: $579MMPLX FY2018: $1.8BMPLX FY2019: $1BMPLX FY2020: -$720MMPLX FY2021: $3.1BMPLX FY2022: $3.9BMPLX FY2023: $3.9BMPLX FY2024: $4.3BMPLX FY2025: $4.9BFY18FY19FY20FY21FY22FY23FY24FY25
DINO $579MMPLX $4.9B
Net margin
DINO FY2020: -5.4%DINO FY2022: 3.0%DINO FY2022: 7.7%DINO FY2023: 5.0%DINO FY2024: 0.6%DINO FY2025: 2.2%MPLX FY2018: 26.0%MPLX FY2019: 11.4%MPLX FY2020: -9.5%MPLX FY2021: 30.7%MPLX FY2022: 34.0%MPLX FY2023: 34.8%MPLX FY2024: 35.9%MPLX FY2025: 37.8%FY18FY19FY20FY21FY22FY23FY24FY25
DINO 2.2%MPLX 37.8%
Revenue growth
DINO FY2022: +64.4%DINO FY2022: +107.8%DINO FY2023: -16.3%DINO FY2024: -10.6%DINO FY2025: -6.0%MPLX FY2019: +29.1%MPLX FY2020: -16.3%MPLX FY2021: +32.5%MPLX FY2022: +15.8%MPLX FY2023: -2.9%MPLX FY2024: +5.8%MPLX FY2025: +8.9%FY19FY20FY21FY22FY23FY24FY25
DINO -6.0%MPLX +8.9%
Free cash flow
DINO FY2020: $187.1MDINO FY2022: -$318.4MDINO FY2022: $3.3BDINO FY2023: $1.9BDINO FY2024: $640MDINO FY2025: $866MMPLX FY2018: $960MMPLX FY2019: $1.7BMPLX FY2020: $3.3BMPLX FY2021: $4.4BMPLX FY2022: $4.2BMPLX FY2023: $4.5BMPLX FY2024: $4.9BMPLX FY2025: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25
DINO $866MMPLX $4.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about HF Sinclair and Mplx

Which is bigger by revenue, HF Sinclair or Mplx?

HF Sinclair is bigger by revenue: $26.9B in fiscal 2025, against $13B for Mplx in fiscal 2025.

Which keeps more of its revenue as profit, HF Sinclair or Mplx?

HF Sinclair had a net margin of 2.2% in fiscal 2025; Mplx had 37.8% in fiscal 2025.

Which grew revenue faster, HF Sinclair or Mplx?

In their latest fiscal years revenue changed by -6.0% at HF Sinclair and +8.9% at Mplx.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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