The combination of Marathon and Andeavor created the largest US refiner with facilities in the midcontinent, Gulf Coast, and West Coast. Marathon planned to leverage this geographically diverse footprint to optimize its crude supply from North America to reduce feedstock cost while also improving its operating cost structure.
High-complexity facilities in the midcontinent and Gulf Coast position Marathon to capitalize on a variety of discount crude streams, endowing it with a feedstock cost advantage.
The acquisition of Andeavor added refineries on the West Coast, where costs are higher, crude cost advantage is minimal, and long-term demand is more threatened by EVs.
|
Metric
|
MPC
|
PSX
|
VLO
|
|---|---|---|---|
Price/Earnings (Normalized) | 8.29 | 9.70 | 6.84 |
Price/Book Value | 2.94 | 2.16 | 2.14 |
Price/Sales | 0.54 | 0.47 | 0.41 |
Price/Cash Flow | 5.71 | 7.86 | 5.16 |
|
Metric
|
MPC
|
PSX
|
VLO
|
|---|---|---|---|
Quick Ratio | 1.08 | 0.95 | 1.07 |
Current Ratio | 1.59 | 1.26 | 1.56 |
Interest Coverage | 11.53 | 10.94 | 20.38 |
|
Metric
|
MPC
|
PSX
|
VLO
|
|---|---|---|---|
Return on Assets (Normalized) | 11.02% | 9.38% | 14.33% |
Return on Equity (Normalized) | 37.07% | 23.71% | 34.83% |
Return on Invested Capital (Normalized) | 16.50% | 14.85% | 23.03% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
PSX
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VLO
| Valero Energy Corp | Hgbslnqbn | Yhqyvs | $53.5 Bil | |
NTOIY
| Neste OYJ ADR | — | Fjnfhy | $21.1 Bil | |
NTOIF
| Neste OYJ | — | Yscnzm | $21.1 Bil | |
JXHGF
| ENEOS Holdings Inc | — | Sdtw | $14.0 Bil | |
JXHLY
| ENEOS Holdings Inc ADR | — | Xbpz | $14.0 Bil | |
DINO
| HF Sinclair Corp | Vmbpyrv | Sdqdtw | $11.1 Bil | |
IDKOF
| Idemitsu Kosan Co Ltd | — | Lqyg | $9.8 Bil | |
IDKOY
| Idemitsu Kosan Co Ltd ADR | — | Vfn | $9.2 Bil |
