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Marathon Petroleum (Marathon Petroleum) Asset Turnover : 0.41 (As of Dec. 2023)


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What is Marathon Petroleum Asset Turnover?

Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Marathon Petroleum's Revenue for the three months ended in Dec. 2023 was $36,255 Mil. Marathon Petroleum's Total Assets for the quarter that ended in Dec. 2023 was $87,978 Mil. Therefore, Marathon Petroleum's Asset Turnover for the quarter that ended in Dec. 2023 was 0.41.

Asset Turnover is linked to ROE % through Du Pont Formula. Marathon Petroleum's annualized ROE % for the quarter that ended in Dec. 2023 was 23.09%. It is also linked to ROA % through Du Pont Formula. Marathon Petroleum's annualized ROA % for the quarter that ended in Dec. 2023 was 6.60%.


Marathon Petroleum Asset Turnover Historical Data

The historical data trend for Marathon Petroleum's Asset Turnover 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 Asset Turnover Chart

Marathon Petroleum Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Asset Turnover
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.16 0.76 1.41 2.03 1.69

Marathon Petroleum Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Asset Turnover 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 0.44 0.39 0.42 0.46 0.41

Competitive Comparison of Marathon Petroleum's Asset Turnover

For the Oil & Gas Refining & Marketing subindustry, Marathon Petroleum's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Marathon Petroleum's Asset Turnover distribution charts can be found below:

* The bar in red indicates where Marathon Petroleum's Asset Turnover falls into.



Marathon Petroleum Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Marathon Petroleum's Asset Turnover for the fiscal year that ended in Dec. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: Dec. 2023 )/( (Total Assets (A: Dec. 2022 )+Total Assets (A: Dec. 2023 ))/ count )
=148379/( (89904+85987)/ 2 )
=148379/87945.5
=1.69

Marathon Petroleum's Asset Turnover for the quarter that ended in Dec. 2023 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Dec. 2023 )/( (Total Assets (Q: Sep. 2023 )+Total Assets (Q: Dec. 2023 ))/ count )
=36255/( (89969+85987)/ 2 )
=36255/87978
=0.41

* 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.

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.


Marathon Petroleum  (NYSE:MPC) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Marathon Petroleum's annulized ROE % for the quarter that ended in Dec. 2023 is

ROE %**(Q: Dec. 2023 )
=Net Income/Total Stockholders Equity
=5804/25133
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(5804 / 145020)*(145020 / 87978)*(87978/ 25133)
=Net Margin %*Asset Turnover*Equity Multiplier
=4 %*1.6484*3.5005
=ROA %*Equity Multiplier
=6.60 %*3.5005
=23.09 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue 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.

** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Marathon Petroleum's annulized ROA % for the quarter that ended in Dec. 2023 is

ROA %(Q: Dec. 2023 )
=Net Income/Total Assets
=5804/87978
=(Net Income / Revenue)*(Revenue / Total Assets)
=(5804 / 145020)*(145020 / 87978)
=Net Margin %*Asset Turnover
=4 %*1.6484
=6.60 %

Note: The Net Income data used here is four times the quarterly (Dec. 2023) net income data. The Revenue data used here is four times the quarterly (Dec. 2023) revenue 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.


Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.


Marathon Petroleum Asset Turnover Related Terms

Thank you for viewing the detailed overview of Marathon Petroleum's Asset Turnover 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

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