MARATHON PETROLEUM CORPORATION vs Exxon Mobil Corporation, two Oil & Gas Refining stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
What is priced in: ExxonMobil at 23 times earnings is priced as the integrated colossus, Marathon Petroleum at 16.7 as a pure refiner, seven turns of premium for owning the whole barrel over just the processing spread. Marathon earns the higher return on equity, 19.8% against 9.7% (buyback-flattered), and per asset dollar nearly ties, 5.3% against 5.5%. Exxon's $573B scale dwarfs Marathon's $75B, and Exxon pays a bigger dividend, 2.9% against 1.5%. Both run near-zero debt. Marathon converts more of its price to cash, 7.6% against 3.3%. The pair prices integration against focus; Exxon's premium buys upstream reserves and diversification, Marathon's discount buys pure downstream leverage and heavier buybacks.
Comparison updated 2026-07-11.
| Metric | MPC | XOM |
|---|---|---|
| Price | $253.99 | $136.40 |
| Market cap | $74.9B | $573.2B |
| Sector | Oil & Gas Refining | Oil & Gas Refining |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -3.9% | +1.4% |
| P/E | 16.7 | 23.0 |
| P/B | 3.20 | 2.20 |
| P/S | 0.55 | 1.71 |
| EV/EBITDA | 6.1 | 21.4 |
| Revenue growth | -1.2% | -4.2% |
| Operating margin | 4.1% | — |
| Net margin | 3.4% | 7.6% |
| Return on equity | 19.8% | 9.7% |
| Return on assets | 5.3% | 5.5% |
| Return on invested capital | 29.0% | — |
| FCF yield | 7.6% | 3.3% |
| Dividend yield | 1.5% | 2.9% |
| Debt / equity | 0.09 | 0.06 |
| Current ratio | 1.18 | 1.04 |
| Altman Z (solvency) | 2.97 | 3.87 |
| Piotroski F (quality) | 7 / 9 | 8 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.