Marathon Petroleum Corp (MPC)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	25,712,000	24,404,000	27,715,000	26,206,000	22,199,000
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $25,712,000K)
= 0.00

Based on the provided data, Marathon Petroleum Corp has consistently maintained a debt-to-capital ratio of 0.00 from December 31, 2020, to December 31, 2024. This indicates that the company has not utilized debt significantly to finance its operations and investments, instead relying more on equity financing. A debt-to-capital ratio of 0.00 suggests that the company's capital structure is primarily equity-financed, which may indicate a lower level of financial risk and leverage compared to companies with higher debt ratios. It is essential to consider the company's overall financial strategy and future capital allocation plans to fully assess the implications of this consistent debt-to-capital ratio.