FY2025 · ended Dec 31, 2025 · Revenue $9.73B, +5.8% YoY · Filed Feb 26, 2026
Mplx LP (MPLX) files with the SEC under industry code 4610, Pipe Lines (No Natural Gas). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $9.7 billion and net income of $5.0 billion. Free cash flow was $4.1 billion. As of Sep 30, 2026 it held $1.3 billion in cash and investments and $27.2 billion in total debt.
Revenue (TTM)
$10.20B
+5.3% vs year-ago TTM
Net income (TTM)
$4.39B
-9.7% vs year-ago TTM
Operating cash flow (TTM)
$6.02B
-1.1% vs year-ago TTM
Free cash flow (TTM)
$3.11B
-33.6% vs year-ago TTM
EPS
—
Dividend per share
None
Shares outstanding
1.02B
-0.7% vs prior year
Net cash
$-25.95B
as of Sep 30, 2026
Operating margin
54.4%
FY 2026
Company profile
- Industry
- Pipe Lines (No Natural Gas) (SIC 4610)
- Listed as
- MPLX (NYSE)
- Fiscal year ends
- December 31
- Headquarters
- Findlay, OH
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1552000
Other Pipe Lines (No Natural Gas) companies
- Enbridge Inc ENB
- HF Sinclair Corp DINO
- Plains All American Pipeline LP PAA
- South Bow Corp SOBO
- Plains GP Holdings LP PAGP
- Delek Logistics Partners, LP DKL
- Genesis Energy LP GEL
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $9.7B | $9.2B | $8.7B | $11.6B | $10.0B |
| Operating income | $5.9B | $5.3B | $4.9B | $4.9B | — |
| Net income | $5.0B | $4.4B | $4.0B | $4.0B | $3.1B |
| Operating cash flow | $5.9B | $5.9B | $5.4B | $5.0B | $4.9B |
| Free cash flow | $4.1B | $4.9B | $4.5B | $4.2B | $4.4B |
| Total assets | $43.0B | $37.5B | $36.5B | $35.7B | $35.5B |
| Total liabilities | $28.5B | $23.5B | $22.9B | $22.2B | $22.5B |
| Cash and investments | $2.1B | $1.5B | $1.0B | $238.0M | $13.0M |
| Total debt | $26.2B | $21.4B | $20.9B | $20.1B | $18.9B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 3, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Results of operations
|
Nov 3, 2026 | Nov 3, 2026 |
| 8-K |
Current report
Officer or director change, Other events
|
Oct 29, 2026 | Oct 27, 2026 |
| 8-K |
Current report
Other events
|
Aug 24, 2026 | Aug 24, 2026 |
| 10-Q | Quarterly report | Aug 4, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 4, 2026 | Aug 4, 2026 |
Source: SEC EDGAR filings. This is company-reported data, not investment advice.