Marathon Petroleum vs Valero Energy
Marathon Petroleum reported revenue of $132.7 billion in fiscal 2025, about the same as Valero Energy's $122.7 billion in fiscal 2025. Marathon Petroleum's revenue fell 4.4% in its latest year, and Valero Energy's fell 5.5%. Marathon Petroleum had an operating margin of 6.2%, against 2.6% at Valero Energy.
Side by side
| Marathon Petroleum | Valero Energy | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $132.7B | $122.7B |
| Revenue growth | −4.4% | −5.5% |
| Revenue growth a year, last 5 years | 13.7% | 13.6% |
| Gross margin | 10.0% | 4.4% |
| Operating margin | 6.2% | 2.6% |
| Net margin | 3.0% | 1.9% |
| Free cash flow | $4.8B | — |
| Free cash flow margin | 3.6% | — |
| Return on capital | 13.6% | 7.2% |
| Net debt to EBITDA | 2.5x | 0.9x |
| Dividends and buybacks | $4.6B | $4.0B |
| Change in diluted share count | −10.3% | −4.0% |
| Last close | $470.64 | $426.76 |
| P/E at the last close | 16.2× | 17.7× |
| Insider trades, last 12 months | sold $13.9 million | sold $9.4 million |
| Piotroski F-score | 8 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Marathon PetroleumValero Energy
Operating margin
Percent of revenue
Marathon PetroleumValero Energy
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Marathon PetroleumValero Energy
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Marathon Petroleum and Valero Energy pages.