MPC vs SUN: Marathon Petroleum and Sunoco LP compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Marathon Petroleum is the larger company, worth $140.3B, about 9.5 times Sunoco LP.
- Sunoco LP grew revenue faster over the last year (+164.6% vs +53.8%).
- Marathon Petroleum keeps more of each dollar of revenue as operating profit (9.2% vs 4.8%).
- On earnings, Sunoco LP is the cheaper stock (19.9x vs 31.7x).
- Marathon Petroleum's price assumes faster free cash flow growth: about 10% a year, against 7% for Sunoco LP (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | MPC | SUN |
|---|---|---|
| Market cap | $140.3B | $14.7B |
| Share price | $455.03 | $75.60 |
| Revenue (last fiscal year) | $132.7B | $25.2B |
| Free cash flow (last fiscal year) | $4.8B | $615M |
| Revenue growth, last year | +53.8% | +164.6% |
| Revenue growth per year, last 5 fiscal years | +2.6% | +9.4% |
| Operating margin | 9.2% | 4.8% |
| Net margin | 5.6% | 2.9% |
| Return on equity | 44.8% | — |
| P/E (trailing) | 31.7x | 19.9x |
| Price / free cash flow | 29.4x | 23.9x |
| EV / EBITDA | 9.75x | 11.3x |
| FCF growth the price implies | 10.0% | 7.3% |
| Dividend yield | 0.83% | 4.9% |
| Debt / equity | 3.60x | — |
| Fundamental grade | C | C |
| Superinvestors holding it | 5 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Marathon Petroleum
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $120.0B | $2.9B | 3.6% |
| 2022 | $177.5B | $13.9B | 12.1% |
| 2023 | $148.4B | $12.2B | 9.8% |
| 2024 | $138.9B | $6.1B | 4.9% |
| 2025 | $132.7B | $4.8B | 6.2% |
Sunoco LP
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $17.6B | $369M | 4.3% |
| 2022 | $25.7B | $375M | 2.6% |
| 2023 | $23.1B | $385M | 2.8% |
| 2024 | $22.7B | $205M | 3.5% |
| 2025 | $25.2B | $615M | 3.7% |
Where the revenue comes from
Marathon Petroleum · by segments, 2025
Refining & Marketing$124.3B94%
Midstream$5.6B4%
Renewable Diesel$2.8B2%
Sunoco LP · by segments, 2025
Fuel Distribution$23.9B90%
Terminals$1.4B5%
Pipeline Systems$751M3%
Refinery$474M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open MPC in InvestinglyQuestions
Which is bigger, Marathon Petroleum or Sunoco LP?
Marathon Petroleum (MPC), at $140.3B against $14.7B.
Is MPC or SUN cheaper?
By trailing P/E, Sunoco LP (19.9x) is cheaper than Marathon Petroleum (31.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, MPC or SUN?
Sunoco LP: revenue grew +164.6% over the last year, against +53.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.