Marathon Petroleum Corp (MPC)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 12,498,000 | 19,007,000 | 10,002,000 | -12,256,000 | 3,421,000 |
| Revenue | US$ in thousands | 148,082,000 | 176,526,000 | 119,456,000 | 68,692,000 | 123,949,000 |
| Pretax margin | 8.44% | 10.77% | 8.37% | -17.84% | 2.76% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $12,498,000K ÷ $148,082,000K
= 8.44%
Marathon Petroleum Corp's pretax margin has exhibited volatility over the past five years, as demonstrated by a range of values from -19.47% in 2020 to 11.48% in 2022. The pretax margin improved significantly in 2023 to 9.37%, indicating enhanced profitability before accounting for taxes. The positive trend in recent years suggests that the company has been more effective in managing its operating expenses and generating higher revenues relative to costs. However, the substantial fluctuations in pretax margin prior to 2022 may indicate potential challenges or external factors affecting the company's financial performance. Continued monitoring of the pretax margin will be essential to assess Marathon Petroleum Corp's ability to sustain and potentially improve its profitability in the future.
Peer comparison
Dec 31, 2023