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MPLX LP MPLX

MPLX LP scores average on business quality (5.7 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$56.30Oct 10, 2026
Business qualityAverage
Next earningsNov 3, 2026
Insiders, 90 daysQuiet

Why it matters

  1. What MPLX LP does

    MPLX operates pipelines and storage terminals, charging energy producers fees to transport oil and gas. Logistics revenue makes up its core cash flow.

  2. What it does best

    MPLX excels at extracting high operating margins, posting an operating margin of 44.4% that beats peers like EPD at 12.9%. This scale in pipeline networks creates tough barriers for rivals to duplicate.

  3. The main risk

    High leverage poses the primary structural threat, carrying total debt of $25.7 billion against $2.1 billion in cash. Any volume drop in transported hydrocarbons strains debt service capabilities.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin reaches 44.4% with an FCF margin of 25.2%, showing stable expansion as scale increases network efficiency.

MoatFair

Network scale locks in regional producers with high switching costs. Its operating margin ranks in the sector's top quartile at the 87th percentile.

GrowthSteady

Revenue grew 8.9% to reach $13.2B, accelerating slightly from prior years driven by core logistics demand.

Financial healthWeak

Debt-to-equity sits at 1.8 alongside interest coverage of 5.1x, while free cash flow dipped to $3.3B. The balance sheet is softening.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on MPLX

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is MPLX a good business?

MPLX LP scores average on the Cluenex quality check (5.7 of 10), measured against its own industry. Profitability is strong, moat fair, growth steady and financial health weak.

Are insiders buying MPLX?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does MPLX report earnings?

Nov 3, 2026.

For members

See MPLX today

  • Today's verdict on MPLX, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
Open in Cluenex Free to start. First month of Core free.

Cite this page: Cluenex, “MPLX LP (MPLX)”, https://cluenex.com/stocks/mplx/, data as of Oct 10, 2026.