How Does Marathon Petroleum Corp Sit in Its SEC Industry Classification?
Marathon Petroleum Corp files under SEC standard industrial classification 2911, Petroleum Refining. Among the 10 companies Swoopr covers under SIC 2911, its latest reported revenue of $133 billion ranks 4th. The comparison uses each company's own latest fiscal year, which can differ by up to a year across the group.
| Measure | Marathon Petroleum Corp (FY2025) | Peer reference |
|---|---|---|
| Revenue | $133 billion | 4th of 10 |
| Operating margin | 6.2% | 2.6% (median of 6 peers with a quarter to four times its revenue) |
| Revenue growth | -4.4% | -5.3% (median of 6 peers with a quarter to four times its revenue) |
Companies of similar size in the same classification: Phillips 66 ($132 billion), VALERO ENERGY CORP/TX ($123 billion), CHEVRON CORP ($189 billion), CONOCOPHILLIPS ($58.9 billion), ExxonMobil Holdings Corp ($332 billion).
A classification code groups companies by how they describe their main business to the SEC, so two companies with the same code can still differ in customers, geography and cost structure. Treat the comparison as a starting point for the questions below.
Where value can be captured
The energy value chain runs from exploration and extraction through gathering, transportation, processing, refining, storage, distribution, and end consumption. Services and equipment suppliers support several layers, while infrastructure owners can earn more volume-linked or contracted revenue.
For Marathon Petroleum, name suppliers, channels, customers and infrastructure dependencies only when a reliable source establishes the relationship. The goal is to show where the company sits, what it depends on, and where bargaining power resides.
Industry drivers
- Commodity Prices: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Production Volume: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Realized Pricing: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Transport Or Processing Volumes: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Refining Margins: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Utilization: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Service Activity: connect this driver to a disclosed KPI and to the financial statement line it influences.
- Capital Discipline: connect this driver to a disclosed KPI and to the financial statement line it influences.
Macro connections
- Oil Prices: document the transmission mechanism rather than assuming correlation.
- Natural-Gas Prices: document the transmission mechanism rather than assuming correlation.
- Global Gdp: document the transmission mechanism rather than assuming correlation.
- Industrial Production: document the transmission mechanism rather than assuming correlation.
- Opec Policy: document the transmission mechanism rather than assuming correlation.
- Interest Rates: document the transmission mechanism rather than assuming correlation.
- Energy Regulation: document the transmission mechanism rather than assuming correlation.
Peer map
A starting peer group from the current S&P 500 classification is APA Corporation, Baker Hughes, Chevron Corporation, ConocoPhillips, Devon Energy, Diamondback Energy. Some may be adjacent rather than direct competitors. The latest Marathon Petroleum filing and credible industry sources should refine the map.
Questions for the supply-chain map
- Which inputs are scarce, concentrated, regulated, or difficult to substitute?
- Which layer has the highest switching costs?
- Where can capacity expand quickly, and where does it take years?
- Which participants bear inventory, credit, commodity, or utilization risk?
- Is Marathon Petroleum's advantage located in intellectual property, physical assets, licenses, distribution, brand, data, or customer integration?
- Which dependency could become a bottleneck under stress?
References
The evergreen analysis above is anchored to verified index metadata and a filing-first research workflow. Time-sensitive financial figures are refreshed from the latest primary filings.
- S&P Dow Jones Indices: S&P 500
- SEC EDGAR company filings for Marathon Petroleum
- SEC submissions JSON for CIK 1510295
Source-review rule: Check any statement about current revenue, margins, management, products, segment mix, guidance, market share or capital allocation against the latest 10-K, 10-Q, 8-K, proxy statement, earnings release or official investor-relations material before relying on it.