Marathon Petroleum Corp (MPC)

Debt-to-equity 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-equity ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2024 calculation

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

Based on the data provided, Marathon Petroleum Corp has maintained a consistent debt-to-equity ratio of 0.00 from December 31, 2020, through December 31, 2024. A debt-to-equity ratio of 0.00 indicates that the company has no debt in its capital structure relative to its equity. This may suggest that the company is primarily funded through equity financing rather than debt, which can be viewed positively as it indicates a lower financial risk and less reliance on borrowing for operations and growth. However, it is important to note that a debt-to-equity ratio of 0.00 could also signify that the company has smaller equity compared to a negligible amount of debt, which may require further examination of the financial health and capital structure of the company. Overall, the consistent 0.00 ratio over the years highlights Marathon Petroleum Corp's stable financial position in terms of leverage and capital structure.