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Marathon Petroleum vs Phillips 66: revenue, profit, margins and growth compared

Marathon Petroleum brought in $132.7B of revenue in fiscal 2025, Phillips 66 $132.4B in fiscal 2025. Revenue changed by -4.4% at Marathon Petroleum and -7.5% at Phillips 66 on the year before, so Marathon Petroleum grew faster. Marathon Petroleum kept 3.0% of its revenue as net profit, Phillips 66 3.3%.

Side by side, latest fiscal year

MPCPSX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$132.7B$132.4B
Revenue growth-4.4%-7.5%
Net income$4B$4.4B
Net margin3.0%3.3%
Free cash flow$4.8Bn/a
Free cash flow margin3.6%n/a
Earnings per share (diluted)$13.22$10.79
Cash$3.7B$1.1B
Debt$33.3B$19.7B
Price to earnings29.823.7
Market value$110.5B$102B
Dividend yield0.95%1.86%
Rank by revenue in sector#3 of 129 · Energy#4 of 129 · Energy

Over the years

Revenue
MPC FY2018: $86.1BMPC FY2019: $111.1BMPC FY2020: $69.8BMPC FY2021: $120BMPC FY2022: $177.5BMPC FY2023: $148.4BMPC FY2024: $138.9BMPC FY2025: $132.7BPSX FY2018: $111.5BPSX FY2019: $107.3BPSX FY2020: $64.1BPSX FY2021: $111.5BPSX FY2022: $170BPSX FY2023: $147.4BPSX FY2024: $143.2BPSX FY2025: $132.4BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $132.7BPSX $132.4B
Net income
MPC FY2018: $2.8BMPC FY2019: $2.6BMPC FY2020: -$9.8BMPC FY2021: $9.7BMPC FY2022: $14.5BMPC FY2023: $9.7BMPC FY2024: $3.4BMPC FY2025: $4BPSX FY2018: $5.6BPSX FY2019: $3.1BPSX FY2020: -$4BPSX FY2021: $1.3BPSX FY2022: $11BPSX FY2023: $7BPSX FY2024: $2.1BPSX FY2025: $4.4BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4BPSX $4.4B
Net margin
MPC FY2018: 3.2%MPC FY2019: 2.4%MPC FY2020: -14.1%MPC FY2021: 8.1%MPC FY2022: 8.2%MPC FY2023: 6.5%MPC FY2024: 2.5%MPC FY2025: 3.0%PSX FY2018: 5.0%PSX FY2019: 2.9%PSX FY2020: -6.2%PSX FY2021: 1.2%PSX FY2022: 6.5%PSX FY2023: 4.8%PSX FY2024: 1.5%PSX FY2025: 3.3%FY18FY19FY20FY21FY22FY23FY24FY25
MPC 3.0%PSX 3.3%
Revenue growth
MPC FY2019: +29.1%MPC FY2020: -37.2%MPC FY2021: +71.9%MPC FY2022: +47.9%MPC FY2023: -16.4%MPC FY2024: -6.4%MPC FY2025: -4.4%PSX FY2019: -3.7%PSX FY2020: -40.2%PSX FY2021: +73.8%PSX FY2022: +52.5%PSX FY2023: -13.3%PSX FY2024: -2.9%PSX FY2025: -7.5%FY19FY20FY21FY22FY23FY24FY25
MPC -4.4%PSX -7.5%
Free cash flow
MPC FY2018: $3BMPC FY2019: $4.6BMPC FY2020: -$368MMPC FY2021: $2.9BMPC FY2022: $13.9BMPC FY2023: $12.2BMPC FY2024: $6.1BMPC FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4.8BPSX

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

Questions about Marathon Petroleum and Phillips 66

Which is bigger by revenue, Marathon Petroleum or Phillips 66?

Marathon Petroleum is bigger by revenue: $132.7B in fiscal 2025, against $132.4B for Phillips 66 in fiscal 2025.

Which keeps more of its revenue as profit, Marathon Petroleum or Phillips 66?

Marathon Petroleum had a net margin of 3.0% in fiscal 2025; Phillips 66 had 3.3% in fiscal 2025.

Which grew revenue faster, Marathon Petroleum or Phillips 66?

In their latest fiscal years revenue changed by -4.4% at Marathon Petroleum and -7.5% at Phillips 66.

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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