GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Marathon Petroleum Corp (NYSE:MPC) » Definitions » ROC (Joel Greenblatt) %

Marathon Petroleum (Marathon Petroleum) ROC (Joel Greenblatt) % : 26.26% (As of Dec. 2023)


View and export this data going back to 2011. Start your Free Trial

What is Marathon Petroleum ROC (Joel Greenblatt) %?

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Marathon Petroleum's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 26.26%.

The historical rank and industry rank for Marathon Petroleum's ROC (Joel Greenblatt) % or its related term are showing as below:

MPC' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -21.9   Med: 13.33   Max: 51.99
Current: 37.71

During the past 13 years, Marathon Petroleum's highest ROC (Joel Greenblatt) % was 51.99%. The lowest was -21.90%. And the median was 13.33%.

MPC's ROC (Joel Greenblatt) % is ranked better than
87.33% of 1050 companies
in the Oil & Gas industry
Industry Median: 10.58 vs MPC: 37.71

Marathon Petroleum's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


Marathon Petroleum ROC (Joel Greenblatt) % Historical Data

The historical data trend for Marathon Petroleum's ROC (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Marathon Petroleum ROC (Joel Greenblatt) % Chart

Marathon Petroleum Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.52 -21.90 8.36 51.99 37.08

Marathon Petroleum Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
ROC (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 47.06 40.72 34.25 50.25 26.26

Competitive Comparison of Marathon Petroleum's ROC (Joel Greenblatt) %

For the Oil & Gas Refining & Marketing subindustry, Marathon Petroleum's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Marathon Petroleum's ROC (Joel Greenblatt) % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Marathon Petroleum's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Marathon Petroleum's ROC (Joel Greenblatt) % falls into.



Marathon Petroleum ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(12469 + 10143 + 607) - (18399 + 0 + 2064)
=2756

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11619 + 9317 + 971) - (16097 + 0 + 1645)
=4165

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of Marathon Petroleum for the quarter that ended in Dec. 2023 can be restated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=10408/( ( (36000 + max(2756, 0)) + (36345 + max(4165, 0)) )/ 2 )
=10408/( ( 38756 + 40510 )/ 2 )
=10408/39633
=26.26 %

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Marathon Petroleum  (NYSE:MPC) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Marathon Petroleum ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Marathon Petroleum's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Marathon Petroleum (Marathon Petroleum) Business Description

Address
539 South Main Street, Findlay, OH, USA, 45840-3229
Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.
Executives
Carl Kristopher Hagedorn officer: Senior VP and Controller C/O CONE MIDSTREAM PARTNERS LP, 1000 CONSOL ENERGY DRIVE, CANONSBURG PA 15317
Rucker Kim K.w. director KRAFT FOODS GROUP, INC., THREE LAKES DRIVE, NORTHFIELD IL 60093
Shawn M Lyon officer: SVP Log & Storage, MPLX GP LLC C/O MPLX, 200 E HARDIN STREET, FINDLAY OH 45840
Gregory Scott Floerke officer: Ex VP & COO, MPLX GP LLC C/O MARKWEST ENERGY PARTNERS, L.P., 1515 ARAPAHOE STREET, TOWER 1, SUITE 160, DENVER CO 80202
Timothy J Aydt officer: Ex VP and CCO, MPLX GP LLC C/O MPLX LP, 200 E. HARDIN STREET, FINDLAY OH 45840
Toni Townes-whitley director 8340 SPRINGHAVEN GARDEN LANE, MCLEAN, VA X1 22102
Michael J Hennigan officer: President & CEO, MPLX GP LLC 3807 WEST CHESTER PIKE, NEWTOWN SQUARE PA 19073
Suzanne Gagle officer: VP and General Counsel C/O MPC, FINDLAY OH 45840
Thomas Kaczynski officer: VP, Finance and Treasurer C/O MARATHON PETROLEUM CORPORATION, FINDLAY OH 45840
Raymond L Brooks officer: Sr. VP, Refining C/O MPC, FINDLAY OH 45840
Charles E Bunch director PPG INDUSTRIES INC., ONE PPG PLACE, PITTSBURGH PA 15272
Brian C Davis officer: Exec VP, Chief Commercial Ofc C/O MARATHON PETROLEUM CORPORATION, 539 S. MAIN STREET, FINDLAY OH 45840
Maryann T. Mannen officer: Exec VP & Chief Fin Ofc C/O MARATHON PETROLEUM CORPORATION, 539 SOUTH MAIN ST, FINDLAY OH 45840
Jonathan Z Cohen director 1845 WALNUT STREET, 10TH FLOOR, PHILADELPHIA PA 19103
James E Rohr director 249 FIFTH AVE, P1-POPP-30-1, PITTSBURGH PA 15222

Marathon Petroleum (Marathon Petroleum) Headlines