Company Valuation: MPLX LP

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 30,178 32,946 36,765 48,760 54,281 60,497 - -
Change - 9.17% 11.59% 32.63% 11.32% 11.45% - -
Enterprise Value (EV) 1 48,736 52,504 56,148 68,189 77,797 85,697 86,534 87,448
Change - 7.73% 6.94% 21.45% 14.09% 10.16% 0.98% 1.06%
P/E 10.3x 8.76x 9.66x 11.4x 11.1x 13.8x 12.3x 11.5x
PBR 2.57x 2.67x 2.9x 3.59x 3.79x 4.2x 4.13x 4.11x
PEG - 0.3x 7.25x 1.1x 0.8x -1.3x 1x 1.58x
Capitalization / Revenue 3.01x 2.84x 3.26x 4.09x 4.18x 4.6x 4.29x 4.04x
EV / Revenue 4.86x 4.52x 4.98x 5.71x 5.99x 6.52x 6.14x 5.84x
EV / EBITDA 8.77x 9.09x 8.96x 10.1x 11.1x 11.8x 11x 10.5x
EV / EBIT 12.2x 10.7x 11.5x 12.9x 13.1x 15.3x 14.2x 13.6x
EV / FCF 11.1x 12.5x 13.6x 17.3x 75.3x 27.9x 20.1x 17.7x
FCF Yield 9.03% 8.02% 7.36% 5.78% 1.33% 3.58% 4.98% 5.66%
Dividend per Share 2 3.36 2.96 3.25 3.613 4.066 4.547 5.131 5.567
Rate of return 11.4% 9.01% 8.85% 7.55% 7.62% 7.62% 8.6% 9.33%
EPS 2 2.86 3.75 3.8 4.21 4.82 4.314 4.832 5.185
Distribution rate 117% 78.9% 85.5% 85.8% 84.4% 105% 106% 107%
Net sales 1 10,027 11,613 11,281 11,933 12,998 13,139 14,090 14,985
EBITDA 1 5,560 5,775 6,269 6,764 7,017 7,275 7,838 8,295
EBIT 1 3,992 4,911 4,900 5,288 5,943 5,593 6,115 6,434
Net income 1 2,936 3,815 3,829 4,290 4,912 4,455 4,994 5,359
Net Debt 1 18,558 19,558 19,383 19,429 23,516 25,201 26,037 26,951
Reference price 2 29.59 32.84 36.72 47.86 53.37 59.67 59.67 59.67
Nbr of stocks (in thousands) 1,019,864 1,003,243 1,001,217 1,018,812 1,017,065 1,013,858 - -
Announcement Date 2/2/22 1/31/23 1/30/24 2/4/25 2/3/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.83x6.52x11.78x7.62% 60.5B
24.02x3.23x13.01x5.61% 109B
30.01x10.1x14.53x2.84% 90.7B
12.97x1.87x10.7x5.76% 84.09B
20.55x5.59x11.29x3.8% 69.92B
21.58x9.42x12.67x4.05% 65.17B
25.76x4.29x13.79x1.72% 62.2B
16.21x2.16x10.81x4.51% 60.16B
14.66x4.17x11.73x4.73% 33.27B
21.62x6.41x12.44x4.36% 28.14B
Average 20.12x 5.38x 12.27x 4.5% 66.36B
Weighted average by Cap. 20.79x 5.34x 12.38x 4.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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