# MPLX LP: overview

MPLX · NYSE · CIK 1552000 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/mplx.md) · [Financials](/companies/mplx/financials.md) · [Filings](/companies/mplx/filings.md) · [Insiders](/companies/mplx/insiders.md)

Latest reported revenue: [$2.62bn](/filings/0001552000-26-000038.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 4, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001552000-26-000038).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,345](/filings/0001552000-25-000036.md) | [2,417 d](/filings/0001552000-26-000009.md) | [2,460](/filings/0001552000-26-000025.md) | [2,356](/filings/0001552000-26-000038.md) | [2,459](/filings/0001552000-25-000036.md) | [2,451 d](/filings/0001552000-26-000009.md) | [2,349](/filings/0001552000-26-000025.md) | [2,615](/filings/0001552000-26-000038.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [54.4%](/filings/0001552000-25-000036.md) | [55.6% d](/filings/0001552000-26-000009.md) | [55.5%](/filings/0001552000-26-000025.md) | [54.9%](/filings/0001552000-26-000038.md) | [73.2%](/filings/0001552000-25-000036.md) | [60.5% d](/filings/0001552000-26-000009.md) | [51.7%](/filings/0001552000-26-000025.md) | [52.7%](/filings/0001552000-26-000038.md) |
| Net margin | % | [44.6%](/filings/0001552000-25-000036.md) | [45.9% d](/filings/0001552000-26-000009.md) | [46.2%](/filings/0001552000-26-000025.md) | [44.9%](/filings/0001552000-26-000038.md) | [63.2%](/filings/0001552000-25-000036.md) | [49.1% d](/filings/0001552000-26-000009.md) | [39.3%](/filings/0001552000-26-000025.md) | [41.6%](/filings/0001552000-26-000038.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | [1,135 d](/filings/0001552000-25-000036.md) | [1,367 d](/filings/0001552000-26-000009.md) | [979](/filings/0001552000-26-000025.md) | [1,435 d](/filings/0001552000-26-000038.md) | [905 d](/filings/0001552000-25-000036.md) | [782 d](/filings/0001552000-26-000009.md) | [772](/filings/0001552000-26-000025.md) | [877 d](/filings/0001552000-26-000038.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:ProfitLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [8,021](/filings/0001552000-24-000007.md) | [8,924](/filings/0001552000-25-000012.md) | [8,733](/filings/0001552000-26-000009.md) | [9,189](/filings/0001552000-26-000009.md) | [9,726](/filings/0001552000-26-000009.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [49.8%](/filings/0001552000-24-000007.md) | [55.0%](/filings/0001552000-25-000012.md) | [56.1%](/filings/0001552000-26-000009.md) | [57.5%](/filings/0001552000-26-000009.md) | [61.1%](/filings/0001552000-26-000009.md) |
| Net margin | % | [38.4%](/filings/0001552000-24-000007.md) | [44.2%](/filings/0001552000-24-000007.md) | [45.0%](/filings/0001552000-24-000007.md) | [47.4%](/filings/0001552000-26-000009.md) | [50.9%](/filings/0001552000-26-000009.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | [4,382](/filings/0001552000-24-000007.md) | [4,213](/filings/0001552000-25-000012.md) | [4,460](/filings/0001552000-26-000009.md) | [4,890](/filings/0001552000-26-000009.md) | [4,101](/filings/0001552000-26-000009.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Net income: us-gaap:ProfitLoss.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/mplx/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [ALPS ADVISORS INC](/funds/1376113.md) | 2026-06-30 | $1.61bn | 28,601,592 |  | Added +1,530,630 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $1.03bn | 18,273,448 |  | Added +6,842 |
| [Blackstone Inc.](/funds/1393818.md) | 2026-06-30 | $729.9m | 12,956,943 |  | Reduced −2,393,740 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $638.2m | 11,329,340 |  | Reduced −1,178,199 |
| [TORTOISE CAPITAL ADVISORS, L.L.C.](/funds/1280965.md) | 2026-06-30 | $591.5m | 10,500,469 |  | Reduced −2,760,115 |
| [MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.](/funds/1705339.md) | 2026-06-30 | $451.3m | 8,011,582 |  | Added +692,332 |
| [KAYNE ANDERSON CAPITAL ADVISORS LP](/funds/949615.md) | 2026-06-30 | $330.3m | 5,862,925 |  | Reduced −963,642 |
| [Energy Income Partners, LLC](/funds/1388814.md) | 2026-06-30 | $303.1m | 5,380,295 |  | Added +222,817 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $297.2m | 5,275,829 |  | Added +311,630 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $296.3m | 5,259,274 |  | Added +25,762 |

## Recent filings

[All 1,493 filings](/companies/mplx/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-24 | 12:16 ET | [8-K](/filings/0001193125-26-362680.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-362680 |
| 2026-08-04 | 13:43 ET | [10-Q](/filings/0001552000-26-000038.md) | Quarterly report, period 2026-06-30 | 0001552000-26-000038 |
| 2026-08-04 | 06:49 ET | [8-K](/filings/0001552000-26-000035.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001552000-26-000035 |
| 2026-05-05 | 13:05 ET | [10-Q](/filings/0001552000-26-000025.md) | Quarterly report, period 2026-03-31 | 0001552000-26-000025 |
| 2026-05-05 | 06:49 ET | [8-K](/filings/0001552000-26-000023.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001552000-26-000023 |
| 2026-04-13 | 16:52 ET | [8-K](/filings/0001552000-26-000017.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.02 Results of operations; 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001552000-26-000017 |
| 2026-03-18 | 17:00 ET | [8-K](/filings/0001552000-26-000012.md) | 5.02 Departure or appointment of officers or directors | 0001552000-26-000012 |
| 2026-02-26 | 13:32 ET | [10-K](/filings/0001552000-26-000009.md) | Annual report, period 2025-12-31 | 0001552000-26-000009 |
| 2026-02-12 | 14:04 ET | [8-K](/filings/0001193125-26-048352.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001193125-26-048352 |
| 2026-02-03 | 06:35 ET | [8-K](/filings/0001552000-26-000004.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001552000-26-000004 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001552000-26-000009.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/fcc5f054-45d1-49f1-b513-2d9a99a3db0a)

## About the filer

- CIK: 1552000
- Tickers: MPLX
- Exchange: NYSE
- SIC code: 4610 Pipe Lines (No Natural Gas)
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 17:01 ET. No prices; not investment advice.