MPLX LP (MPLX) - Net Assets
Based on the latest financial reports, MPLX LP (MPLX) has net assets worth $14.25 Billion USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($42.97 Billion) and total liabilities ($28.72 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check MPLX LP strategic asset allocation index to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $14.25 Billion |
| % of Total Assets | 33.17% |
| Annual Growth Rate | 19.01% |
| 5-Year Change | 11.61% |
| 10-Year Change | 40.79% |
| Growth Volatility | 474.82 |
MPLX LP - Net Assets Trend (2010–2025)
This chart illustrates how MPLX LP's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see MPLX LP stock valuation.
Annual Net Assets for MPLX LP (2010–2025)
The table below shows the annual net assets of MPLX LP from 2010 to 2025. Also explore net asset momentum of MPLX LP to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $14.53 Billion | +3.70% |
| 2024-12-31 | $14.01 Billion | +3.14% |
| 2023-12-31 | $13.58 Billion | +0.52% |
| 2022-12-31 | $13.51 Billion | +3.82% |
| 2021-12-31 | $13.02 Billion | -6.92% |
| 2020-12-31 | $13.98 Billion | -20.45% |
| 2019-12-31 | $17.58 Billion | +156.13% |
| 2018-12-31 | $6.86 Billion | -31.17% |
| 2017-12-31 | $9.97 Billion | -3.35% |
| 2016-12-31 | $10.32 Billion | +11.33% |
| 2015-12-31 | $9.27 Billion | +1899.78% |
| 2014-12-31 | $463.50 Million | -58.40% |
| 2013-12-31 | $1.11 Billion | -9.19% |
| 2012-12-31 | $1.23 Billion | -1.00% |
| 2011-12-31 | $1.24 Billion | +16.01% |
| 2010-12-31 | $1.07 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to MPLX LP's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $14.30 Billion | 99.97% |
| Other Comprehensive Income | $5.00 Million | 0.03% |
| Total Equity | $14.30 Billion | 100.00% |
MPLX LP Competitors by Market Cap
The table below lists competitors of MPLX LP ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Truist Financial Corp
NYSE:TFC
|
$59.54 Billion |
|
CSL Ltd
AU:CSL
|
$59.82 Billion |
|
United Rentals Inc
NYSE:URI
|
$60.40 Billion |
|
Transdigm Group Incorporated
NYSE:TDG
|
$60.69 Billion |
|
TE Connectivity Ltd
NYSE:TEL
|
$59.26 Billion |
|
Bank of Communications Co
SHG:601328
|
$59.02 Billion |
|
Aflac Incorporated
NYSE:AFL
|
$58.84 Billion |
|
PACCAR Inc
NASDAQ:PCAR
|
$58.83 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MPLX LP's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,779,000,000 to 14,301,000,000, a change of 522,000,000 (3.8%).
- Net income of 4,912,000,000 contributed positively to equity growth.
- Dividend payments of 4,024,000,000 reduced retained earnings.
- Share repurchases of 400,000,000 reduced equity.
- Other comprehensive income increased equity by 8,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $4.91 Billion | +34.35% |
| Dividends Paid | $4.02 Billion | -28.14% |
| Share Repurchases | $400.00 Million | -2.8% |
| Other Comprehensive Income | $8.00 Million | +0.06% |
| Other Changes | $26.00 Million | +0.18% |
| Total Change | $- | 3.79% |
Book Value vs Market Value Analysis
This analysis compares MPLX LP's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.16x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has increased from 2.02x to 4.16x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | $28.91 | $58.42 | x |
| 2011-12-31 | $33.54 | $58.42 | x |
| 2012-12-31 | $9.34 | $58.42 | x |
| 2013-12-31 | $8.73 | $58.42 | x |
| 2014-12-31 | $15.01 | $58.42 | x |
| 2015-12-31 | $94.58 | $58.42 | x |
| 2016-12-31 | $30.53 | $58.42 | x |
| 2017-12-31 | $25.70 | $58.42 | x |
| 2018-12-31 | $9.02 | $58.42 | x |
| 2019-12-31 | $19.11 | $58.42 | x |
| 2020-12-31 | $13.07 | $58.42 | x |
| 2021-12-31 | $12.44 | $58.42 | x |
| 2022-12-31 | $13.35 | $58.42 | x |
| 2023-12-31 | $13.32 | $58.42 | x |
| 2024-12-31 | $13.55 | $58.42 | x |
| 2025-12-31 | $14.03 | $58.42 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MPLX LP utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 34.35%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 41.57%
- • Asset Turnover: 0.27x
- • Equity Multiplier: 3.01x
- Recent ROE (34.35%) is above the historical average (14.55%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 9.67% | 26.09% | 0.35x | 1.05x | $-3.52 Million |
| 2011 | 10.81% | 33.76% | 0.30x | 1.05x | $10.08 Million |
| 2012 | 1.90% | 2.96% | 0.34x | 1.88x | $-56.01 Million |
| 2013 | 12.06% | 16.82% | 0.38x | 1.87x | $13.28 Million |
| 2014 | 10.86% | 23.32% | 0.43x | 1.09x | $9.60 Million |
| 2015 | 1.68% | 15.09% | 0.07x | 1.69x | $-770.90 Million |
| 2016 | 2.26% | 7.74% | 0.18x | 1.61x | $-798.90 Million |
| 2017 | 7.96% | 21.51% | 0.19x | 1.96x | $-203.30 Million |
| 2018 | 26.49% | 29.91% | 0.27x | 3.32x | $1.13 Billion |
| 2019 | 5.96% | 11.97% | 0.21x | 2.33x | $-700.20 Million |
| 2020 | -5.24% | -8.57% | 0.23x | 2.65x | $-2.09 Billion |
| 2021 | 24.08% | 32.14% | 0.27x | 2.78x | $1.80 Billion |
| 2022 | 29.26% | 37.42% | 0.30x | 2.65x | $2.60 Billion |
| 2023 | 29.43% | 37.65% | 0.29x | 2.74x | $2.59 Billion |
| 2024 | 31.33% | 39.59% | 0.29x | 2.72x | $2.94 Billion |
| 2025 | 34.35% | 41.57% | 0.27x | 3.01x | $3.48 Billion |
Industry Comparison
This section compares MPLX LP's net assets metrics with peer companies in the Oil & Gas Midstream industry.
Industry Context
- Industry: Oil & Gas Midstream
- Average net assets among peers: $818,501,958
- Average return on equity (ROE) among peers: 177.60%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MPLX LP (MPLX) | $14.25 Billion | 9.67% | 2.01x | $59.28 Billion |
| Antero Midstream Partners LP (AM) | $30.86 Million | 1435.59% | 0.55x | $10.12 Billion |
| CBL International Limited Ordinary Shares (BANL) | $25.29 Million | 4.50% | 1.11x | $12.00 Million |
| BP Prudhoe Bay Royalty Trust (BPT) | $25.01 Million | 58.25% | 0.00x | $2.99 Million |
| Brooge Holdings Ltd (BROG) | $78.49 Million | 16.31% | 4.83x | $284.93 Million |
| BW LPG Limited (BWLP) | $983.62 Million | -6.82% | 1.30x | $3.30 Billion |
| Cheniere Energy Partners LP (CQP) | $715.00 Million | 164.34% | 26.11x | $29.93 Billion |
| Cheniere Energy Partners LP (CQP) | $639.00 Million | 76.68% | 26.47x | $25.77 Billion |
| DHT Holdings Inc (DHT) | $1.13 Billion | 18.63% | 0.41x | $2.56 Billion |
| Dynagas LNG Partners LP (DLNG) | $326.49 Million | 1.11% | 2.26x | $136.80 Million |
| DT Midstream Inc (DTM) | $4.23 Billion | 7.38% | 0.97x | $12.24 Billion |
About MPLX LP
MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Crude Oil and Products Logistics; and Natural Gas and NGL Services. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, st… Read more