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Marathon Petroleum Corporation  (MPC)
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Marathon Petroleum's Effective Tax Rate by quarter

Trends, Rankings, Statistics



MPC Effective Tax Rate (Dec 31 2023)
IV. Quarter
(Sep 30 2023)
III. Quarter
(Jun 30 2023)
II. Quarter
(Mar 31 2023)
I. Quarter
(Dec 31 2022)
IV. Quarter
Y / Y Pre-Tax Income Change -49.84 % -28.09 % -60.54 % 168.71 % 237.76 %
Seq. Pre-Tax Income Change -50.72 % 46.54 % -19.04 % -14.19 % -29.37 %
Pre-Tax Income In Millions $2,284.00 $4,635.00 $3,163.00 $3,907.00 $4,553.00
Effective Tax Rate 17.82 % 21.66 % 18.43 % 21.06 % 21.61 %
Effective Tax Rate Total Ranking # 434 # 967 # 625 # 880 # 1151
Income taxes expenses / -benefit In Millions $407.00 $1,004.00 $583.00 $823.00 $984.00
Y / Y Income taxes expenses / -benefit Change -58.64 % -29.59 % -67.59 % 191.84 % 304.94 %
Seq. Income taxes expenses / -benefit Change -59.46 % 72.21 % -29.16 % -16.36 % -31 %


Commenting fourth Quarter 2023 Effective Tax Rate
Company's effective tax rate in IV. Quarter decreased compare to previous quarter to 17.82 %, below company's average Effective Tax Rate.

Looking into IV. Quarter results within Oil & Gas Integrated Operations industry Marathon Petroleum Corporation achieved lowest Effective Tax Rate. While Effective Tax Rate total ranking has impoved so far to 434, from total ranking in previous quarter at 967.

MPC's Effective Tax Rate fourth quarter 2023 Company Ranking
Within: No.
Oil & Gas Integrated Operations Industry # 1
Energy Sector # 21
Overall # 434

MPC's Effective Tax Rate Statistics
High Average Low
110.54 % 34.71 % 0.84 %
(Dec. 31. 2008)   (Jun 30 2021)




Other Effective Tax Rate Profitability Ratios
MPC's Cumulative Effective Tax Rate
Oil & Gas Integrated Operations Industry Effective Tax Rate Trends and Statistics
Energy Sector Effective Tax Rate Statistics
Effective Tax Rate Profitability Trends for overall market
MPC's Effective Tax Rate Profitability versus Oil & Gas Integrated Operations Industry, Energy Sector and total Market
Highest Ranking Effective Tax Rate
Lowest Ranking Effective Tax Rate
Effective Tax Rate Profit Margin for MPC's Competitors
Effective Tax Rate Profit Margin for Marathon Petroleum's Suppliers
Effective Tax Rate Profit Margin for MPC's Customers

You may also want to know
MPC's Annual Growth Rates MPC's Profitability Ratios MPC's Asset Turnover Ratio MPC's Dividend Growth
MPC's Roe MPC's Valuation Ratios MPC's Financial Strength Ratios MPC's Income taxes expenses / -benefit Growth
MPC's Roa MPC's Inventory Turnover Ratio MPC's Growth Rates MPC's Dividend Comparisons


Companies with similar Effective Tax Rate in the quarter ending Dec 31 2023, within Oil & Gas Integrated Operations Industry Effective Tax RateDec 31 2023 MRQ Income taxes expenses / -benefitDec 31 2023 MRQ Pre-Tax Income
Chevron Corp  35.73 %$ 1,247.000 $ 3,490.000 
Bp Plc  33.13 %$ 7,869.000 $ 23,749.000 
Phillips 66  27.03 %$ 476.000 $ 1,761.000 
Hess Corporation  26.57 %$ 182.000 $ 685.000 
Exxon Mobil Corporation  24.59 %$ 2,613.000 $ 10,625.000 
Imperial Oil Limited  21.55 %$ 287.250 $ 1,332.840 
Valero Energy Corp  21.37 %$ 331.000 $ 1,549.000 
Cvr Energy inc  19.17 %$ 23.000 $ 120.000 
Marathon Petroleum Corporation  17.82 %$ 407.000 $ 2,284.000 




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