MPLX LP
Research MPLX LP (MPLX) on Bullrun: valuation model: 9.6% undervalued, market cap USD 59.18B, P/E 12.6, dividend yield 7.2%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerMPLX
- ExchangeNYSE
- CountryUnited States
- SectorEnergy
- IndustryOil & Gas Midstream
- CurrencyUSD
- Valuation signal9.6% undervalued
- Market capUSD 59.18B
- P/E12.6
- Dividend yield7.2%
- Financial periodQ2 2026
- RevenueUSD 3.08B
- Net incomeUSD 1.08B
- Free cash flowUSD 877.00M
- Gross margin41.9%
Valuation Snapshot
Bullrun's latest valuation model marks MPLX LP as 9.6% undervalued; latest market cap is USD 59.18B; P/E is 12.6; dividend yield is 7.2%.
Peer valuation comparison
Latest P/E is 12.56x versus a Energy sector median of 14.75x (14.8% below).
Latest dividend yield is 7.24% versus a Energy sector median of 3.8% (90.5% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 9.73B | USD 4.95B | USD 4.10B | 51.4% | 4.82 | USD 2.14B | USD 1.50B | USD 0 |
| FY2024 | USD 9.19B | USD 4.36B | USD 4.89B | 52.4% | 4.21 | USD 1.52B | USD 1.69B | USD 0 |
| FY2023 | USD 8.73B | USD 3.93B | USD 4.46B | n/a | n/a | USD 1.05B | USD 1.14B | USD 0 |
| FY2022 | USD 8.92B | USD 3.94B | USD 4.21B | n/a | n/a | USD 238.00M | USD 988.00M | USD 0 |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 59.18B | 12.6 | 7.4% | 4.31 |
| 2025 | 2025-12-31 | USD 54.21B | 11.1 | 7.4% | 3.96 |
| 2024 | 2024-12-31 | USD 48.68B | 11.4 | 7.3% | 3.51 |
| 2023 | 2023-12-29 | USD 36.76B | 10.5 | 8.7% | 3.19 |
| 2022 | 2022-12-30 | USD 32.95B | 8.7 | 8.9% | 2.91 |
| 2021 | 2021-12-31 | USD 30.06B | 10.3 | 11.3% | 3.35 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 4.31 USD, yield 7.2%.
| Year | Dividends/share |
|---|---|
| FY2025 | 3.96 USD |
| FY2024 | 3.51 USD |
| FY2023 | 3.19 USD |
| FY2022 | 2.91 USD |
About MPLX LP
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids;
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Frequently asked questions
Is MPLX LP overvalued or undervalued?
Bullrun's valuation model currently marks MPLX LP as 9.6% undervalued.
What is MPLX LP's market cap?
MPLX LP's market capitalization is USD 59.18B.
What is MPLX LP's P/E ratio?
MPLX LP's price-to-earnings (P/E) ratio is 12.6.
Does MPLX LP pay a dividend?
MPLX LP has a dividend yield of 7.2%.
What does MPLX LP do?
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.