MPLX LP (MPLX) Balance Sheet: Assets & Liabilities

MPLX LP (MPLX) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), MPLX LP reported total assets of $43.01B and total liabilities of $28.48B. Shareholders' equity was $14.30B, up 3.8% from $13.78B a year earlier. Total debt stood at $26.16B against $2.14B in cash and short-term investments, a net debt position of $24.02B. That puts debt-to-equity at 1.83, compared with 1.52 a year earlier.

MPLX LP Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for MPLX LP (MPLX) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	2.14	1.52	1.05	0.24	0.01	0.02	0.02	0.08	0.01
Cash & Short-Term Investments	2.14	1.52	1.05	0.24	0.01	0.02	0.02	0.08	0.01
Accounts Receivable	1.64	0.72	1.56	1.48	0.65	1.16	1.28	0.71	0.45
Inventory	0.17	0.18	0.16	0.15	0.14	0.12	0.11	0.08	0.07
Other Current Assets	0.04	0.03	0.04	0.04	0.70	0.22	0.08	0.04	0.03
Total Current Assets	3.99	3.28	2.81	1.91	1.51	1.52	1.48	0.90	0.56
Non-Current Assets
Property, Plant & Equipment (Net)	22.21	19.65	19.76	19.36	20.31	21.76	22.74	14.64	12.19
Long-Term Investments	5.26	4.53	4.55	5.01	3.98	4.48	5.35	4.20	4.03
Goodwill	8.76	7.65	7.65	7.65	7.66	7.66	9.54	2.59	2.25
Intangible Assets	1.40	0.52	0.65	0.71	0.83	0.96	1.27	0.42	0.45
Other Non-Current Assets	1.39	1.18	1.12	1.05	1.22	0.05	0.05	0.04	0.03
Total Non-Current Assets	39.01	34.24	33.72	33.76	34.00	34.90	38.95	21.88	18.94
Total Assets	43.01	37.51	36.53	35.67	35.51	36.41	40.43	22.78	19.50
Current Liabilities
Accounts Payable	0.11	0.15	0.15	0.22	0.17	0.37	1.15	0.37	0.28
Short-Term Debt	1.56	1.69	1.18	1.04	0.50	0.83	0.08	0.00	0.39
Current Portion of Long-Term Debt	1.50	1.69	1.14	0.99	0.50	-	-	-	-
Accrued Liabilities	1.05	0.75	0.76	0.63	0.66	-	-	-	-
Deferred Revenue	0.11	0.11	0.08	0.08	0.08	0.10	0.06	0.05	0.05
Other Current Liabilities	1.48	0.21	1.21	1.06	1.96	0.79	0.84	0.77	0.55
Total Current Liabilities	3.25	3.24	2.62	2.40	3.35	2.09	2.13	1.19	1.30
Non-Current Liabilities
Long-Term Debt	24.61	19.25	19.73	19.27	18.07	19.85	20.24	13.39	6.95
Deferred Tax Liabilities	0.03	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01
Other Non-Current Liabilities	0.35	0.13	0.13	0.14	0.87	0.12	0.19	0.20	0.19
Total Non-Current Liabilities	25.23	20.27	20.32	19.75	19.14	20.34	20.72	13.73	7.22
Total Liabilities	28.48	23.50	22.95	22.15	22.49	22.43	22.85	14.91	8.53
Stockholders' Equity
Common Stock	14.30	13.58	12.46	11.71	11.22	12.18	15.77	6.72	9.84
Retained Earnings	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accumulated Other Comprehensive Income	14.30	0.00	0.00	-0.01	-0.02	-0.02	-0.02	-0.02	-0.01
Additional Paid-in Capital	0.23	0.00	0.00	0.20	0.00	0.00	0.00	0.00	0.00
Minority Interest	0.23	0.23	0.24	0.03	0.24	0.25	0.25	0.16	0.15
Shares Outstanding	1.02	1.02	1.00	1.00	1.02	-	-	-	-
Total Stockholders' Equity	14.30	13.78	13.35	13.48	13.02	13.74	17.33	7.71	10.83
Total Liabilities & Equity	43.01	37.51	36.53	35.67	35.51	36.41	40.43	22.78	19.50

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About MPLX LP Balance Sheet

How much debt does MPLX LP have?

MPLX LP had total debt of $26.16B as of Dec 31, 2025, against $2.14B in cash and short-term investments. Its debt-to-equity ratio was 1.83. Total debt was $20.94B a year earlier.

What are MPLX LP's total assets?

MPLX LP reported total assets of $43.01B as of Dec 31, 2025, up 14.6% from $37.51B a year earlier. Total liabilities were $28.48B.

What is MPLX LP's shareholders' equity?

MPLX LP's shareholders' equity was $14.30B as of Dec 31, 2025, or about $14.08 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition