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Marathon Petroleum vs Valero Energy: revenue, profit, margins and growth compared

Marathon Petroleum brought in $132.7B of revenue in fiscal 2025, Valero Energy $122.7B in fiscal 2025. Revenue changed by -4.4% at Marathon Petroleum and -5.5% at Valero Energy on the year before, so Marathon Petroleum grew faster. Marathon Petroleum kept 3.0% of its revenue as net profit, Valero Energy 1.9%.

Side by side, latest fiscal year

MPCVLO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$132.7B$122.7B
Revenue growth-4.4%-5.5%
Net income$4B$2.3B
Net margin3.0%1.9%
Free cash flow$4.8Bn/a
Free cash flow margin3.6%n/a
Earnings per share (diluted)$13.22$7.57
Cash$3.7B$4.7B
Debt$33.3B$8.3B
Price to earnings29.851.1
Market value$110.5B$111.5B
Dividend yield0.95%1.17%
Rank by revenue in sector#3 of 129 · Energy#5 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: $132.7BVLO FY2018: $117BVLO FY2019: $108.3BVLO FY2020: $64.9BVLO FY2021: $114BVLO FY2022: $176.4BVLO FY2023: $144.8BVLO FY2024: $129.9BVLO FY2025: $122.7BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $132.7BVLO $122.7B
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: $4BVLO FY2018: $3.1BVLO FY2019: $2.4BVLO FY2020: -$1.4BVLO FY2021: $930MVLO FY2022: $11.5BVLO FY2023: $8.8BVLO FY2024: $2.8BVLO FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4BVLO $2.3B
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%VLO FY2018: 2.7%VLO FY2019: 2.2%VLO FY2020: -2.2%VLO FY2021: 0.8%VLO FY2022: 6.5%VLO FY2023: 6.1%VLO FY2024: 2.1%VLO FY2025: 1.9%FY18FY19FY20FY21FY22FY23FY24FY25
MPC 3.0%VLO 1.9%
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%VLO FY2019: -7.4%VLO FY2020: -40.1%VLO FY2021: +75.6%VLO FY2022: +54.8%VLO FY2023: -17.9%VLO FY2024: -10.3%VLO FY2025: -5.5%FY19FY20FY21FY22FY23FY24FY25
MPC -4.4%VLO -5.5%
Free cash flow
MPC FY2018: $3BMPC FY2019: $4.6BMPC FY2020: -$368MMPC FY2021: $2.9BMPC FY2022: $13.9BMPC FY2023: $12.2BMPC FY2024: $6.1BMPC FY2025: $4.8BVLO FY2018: $995MVLO FY2019: $2.7BVLO FY2020: -$1.5BVLO FY2021: $3.4BVLO FY2022: $9.8BVLO FY2023: $7.3BVLO FY2024: $4.6BFY18FY19FY20FY21FY22FY23FY24FY25
MPC $4.8BVLO $4.6B

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

Questions about Marathon Petroleum and Valero Energy

Which is bigger by revenue, Marathon Petroleum or Valero Energy?

Marathon Petroleum is bigger by revenue: $132.7B in fiscal 2025, against $122.7B for Valero Energy in fiscal 2025.

Which keeps more of its revenue as profit, Marathon Petroleum or Valero Energy?

Marathon Petroleum had a net margin of 3.0% in fiscal 2025; Valero Energy had 1.9% in fiscal 2025.

Which grew revenue faster, Marathon Petroleum or Valero Energy?

In their latest fiscal years revenue changed by -4.4% at Marathon Petroleum and -5.5% at Valero Energy.

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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