Marathon Petroleum vs Valero Energy (MPC vs VLO)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Marathon Petroleum is the larger company by revenue ($132.7B vs $122.7B) and market value ($136.2B vs $132.4B). Marathon Petroleum has grown revenue faster over the last 4 fiscal years (+10.6% cumulative vs +7.6%). Marathon Petroleum runs the higher operating margin (6.2% vs 2.6%). Marathon Petroleum trades at the lower trailing P/E (16.8x vs 19.0x).
About Marathon Petroleum
Marathon Petroleum Corp operates one of the largest refining systems in the United States with a crude oil refining capacity of about 3 million barrels per day. The company refines crude oil into transportation fuels, petrochemicals, and other products, distributing them through a large network of terminals and transportation assets. It serves wholesale customers, independent retailers, and direct dealers primarily under the Marathon and ARCO brands.
About Valero Energy
Valero Energy Corp operates as an independent petroleum refining and marketing company. It produces refined petroleum products such as gasoline, diesel, jet fuel, and renewable fuels. The company serves wholesale and retail customers primarily in the United States, Canada, and the United Kingdom.
Head to head (MPC FY2025 vs VLO FY2025)
| Metric | MPCFY2025 | VLOFY2025 |
|---|---|---|
| Revenue | $132.70B | $122.69B |
| Revenue growth (YoY) | -4.4% | -5.5% |
| Gross margin | 10.0% | 4.4% |
| Operating margin | 6.2% | 2.6% |
| Net margin | 3.0% | 1.9% |
| Net income | $4.05B | $2.35B |
| Diluted EPS | $13.22 | $7.57 |
| FCF margin | 3.6% | — |
| ROE | 16.8% | 8.8% |
| Long-term debt / equity | 1.27× | 0.36× |
| Market cap | $136.18B | $132.38B |
| P/E | 16.8× | 19.0× |
Fundamentals are from each company’s SEC filings (MPC FY2025, VLO FY2025). ROE is net income over fiscal-year-end equity; long-term debt / equity counts non-current term debt only. P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MPC | $119.98B | $177.45B | $148.38B | $138.86B | $132.70B |
| VLO | $113.98B | $176.38B | $144.77B | $129.88B | $122.69B |
Peer standing
Where each company ranks among the 133 Energy companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | MPC | VLO |
|---|---|---|
| Gross margin | 10.0%14th percentile of 45 | 4.4%5th percentile of 45 |
| Operating margin | 6.2%44th percentile of 110 | 2.6%28th percentile of 110 |
| Net margin | 3.0%39th percentile of 128 | 1.9%35th percentile of 128 |
| Revenue growth (YoY) | -4.4%33rd percentile of 131 | -5.5%28th percentile of 131 |
| ROE | 16.8%84th percentile of 104 | 8.8%58th percentile of 104 |
| P/E | 16.8×48th percentile of 84 | 19.0×63rd percentile of 84 |
| Long-term debt / equity | 1.27×83rd percentile of 87 | 0.36×43rd percentile of 87 |
| Short interest (days to cover) | 1.98d14th percentile of 131 | 1.95d12th percentile of 131 |
Short interest
| FINRA settlement data | MPC | VLO |
|---|---|---|
| Shares sold short | 7.0M | 9.0M |
| Change vs prior settlement | -8.8% | -7.2% |
| Days to cover | 1.98 | 1.95 |
| As of settlement | 2026-09-30 | 2026-09-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 activity (codes P/S) | MPC | VLO |
|---|---|---|
| Buys | 0 | 0 |
| Sells | 8 ($9.8M) | 0 |
Non-derivative purchases (code P) and sales (code S) reported on SEC Form 4, which may be open-market or private (grants, exercises and tax withholding excluded). For context, about 15% of covered companies saw any reported insider purchase (code P) in a 90-day window.
Held by the same investors
7 tracked 13F managers hold both Marathon Petroleum and Valero Energy as of their latest quarterly filings: AQR Capital Management, Bridgewater Associates, Citadel Advisors, D. E. Shaw, Gotham Asset Management, Millennium Management, Two Sigma Investments. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.