Midstream Free Cash Flow Drives Growth & Capital Returns
Over the past decade, the North American midstream universe has undergone a significant transformation. This has been driven in large part by companies' increased free cash flow generation.
Fiscal Year: January - December
MPLX LP (MPLX), listed on the NYSE, has a market capitalization of $58.99B. As of Oct 20, 2026, the stock is trading at $58.18 per share@else an unavailable price , offering investors a clear view of its current market value. MPLX LP is a prominent player in the industry sector, attracting both institutional and retail investors due to its performance and potential.
With a P/E ratio of 12.52, investors can assess the stock's valuation in comparison to its earnings. A P/E ratio is a crucial indicator for value investors, showing whether the stock is over or undervalued relative to its current earnings. MPLX LP also offers a dividend yield of 7.4%, making it an attractive option for income-focused investors who seek regular dividends.
Our Discounted Cash Flow (DCF) analysis reveals that MPLX LP (MPLX) has a DCF fair value that is only shown to premium members. To see it, please Login or Upgrade for access.
The proprietary SS Score for MPLX LP is a unique metric that analyzes the company's financial health and growth potential. The score takes into account critical factors such as revenue growth, net income, free cash flow (FCF) compound annual growth rate (CAGR), the trend of shares outstanding, and the debt-to-FCF ratio. This helps investors to make a more informed decision, as an undervalued stock might still have poor financial fundamentals.
To view the detailed SS Score for MPLX LP, Login or Upgrade for access.
The Price to Free Cash Flow (P/FCF) ratio for MPLX LP is 17.68, offering insights into how much investors are paying for the company's free cash flow. A lower P/FCF ratio typically suggests that the stock is undervalued, while a higher ratio may indicate overvaluation.
In summary, MPLX LP (MPLX) has shown consistent financial performance, as illustrated by the financial charts above, which track its revenue growth, net income, free cash flow, and shares outstanding over the past several years. These metrics provide investors with key insights into the company's past and projected future performance. Investors should use the SS Score alongside the DCF Fair Value to make better-informed decisions about whether to buy or hold the stock.
*This analysis is for informational purposes only and does not constitute investment advice. Always read the company's 10-K filings and do your own research before making any investment decisions.
Whether MPLX LP (MPLX) is a good stock to buy depends on various factors, including its financial health, market conditions, and your investment strategy. It is important to assess the SS Score and review the company's fundamentals before making any investment decisions.
The fair value of MPLX LP (MPLX) is determined through our Discounted Cash Flow (DCF) analysis. This value represents the intrinsic worth of the stock based on its expected future cash flows. To view the specific fair value, consider subscribing to our service for complete access.
The SS Score is a proprietary financial quality metric that assesses factors such as revenue growth, net income, free cash flow growth, and debt levels. It helps investors evaluate the overall financial health of MPLX LP. To access the full SS Score, consider upgrading your subscription.
MPLX LP is a significant player in the industry sector, with a market capitalization of $58.99B and a competitive P/E ratio of 12.52. Investors should compare these metrics with industry peers to gauge whether MPLX LP is outperforming or underperforming within its sector.
Over the past decade, the North American midstream universe has undergone a significant transformation. This has been driven in large part by companies' increased free cash flow generation.
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FINDLAY, Ohio, Sept. 17, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) will host a conference call on Tuesday, November 3, 2026, at 9:30 a.m.
Stifel resumed coverage of MPLX (MPLX) with a Hold rating and $65 price target MPLX is executing a wellhead-to-water strategy, tying a growing G&P and egress footprint into a future…
As noted last week, midstream MLPs and corporations broadly raised full-year financial guidance following a strong second quarter. Looking ahead, the sector's growth runway is accelerating.
RBC Capital analyst Elvira Scotto raised the firm’s price target on MPLX (MPLX) to $64 from $60 and keeps an Outperform rating on the shares. The company’s asset footprint with…
FINDLAY, Ohio, Aug. 17, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) today announced that the company's 2025 Schedule K-3 investor tax packages reflecting items of international tax relevance are now ava...
Infrastructure company WhiteWater and its joint venture partners Devon Energy , MPLX , Diamondback Energy and Western Midstream Partners said on Monday they had reached a final investment decision (...
WhiteWater announced that it, together with Devon Energy (DVN), MPLX LP (MPLX), Diamondback Energy (FANG) and Western Midstream Partners (WES), through their Solitude Pipeline System joint venture, ha...
AUSTIN, Texas, Aug. 17, 2026 /PRNewswire/ -- WhiteWater today announced that it, together with Devon Energy Corporation (NYSE: DVN), MPLX LP (NYSE: MPLX), Diamondback Energy, Inc. (NASDAQ: FANG) and W...
Morgan Stanley raised the firm’s price target on MPLX (MPLX) to $66 from $60 and keeps an Equal Weight rating on the shares.
FINDLAY, Ohio, Aug. 10, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) announced today that it has priced $2.25 billion in aggregate principal amount of unsecured senior notes in an underwritten public off...
Barclays analyst Theresa Chen raised the firm’s price target on MPLX (MPLX) to $63 from $59 and keeps an Overweight rating on the shares. The firm adjusted midstream and refining…
Wells Fargo analyst Praneeth Satish raised the firm’s price target on MPLX (MPLX) to $63 from $61 and keeps an Overweight rating on the shares. The firm notes the company…
FINDLAY, Ohio, Aug. 4, 2026 /PRNewswire/ -- Executing Natural Gas and NGL value chain growth strategy; Harmon Creek III processing plant beginning operations in August; progressing expansion of Permia...
Wolfe Research downgraded MPLX (MPLX) to Peer Perform from Outperform without a price target The firm says its thesis on the shares “has drifted” and is now too dependent on…
FINDLAY, Ohio, July 28, 2026 /PRNewswire/ -- The board of directors of the general partner of MPLX LP (NYSE: MPLX) has declared a quarterly cash distribution of $1.0765 per common unit for the second ...
FINDLAY, Ohio, June 16, 2026 /PRNewswire/ -- MPLX LP (NYSE: MPLX) will host a conference call on Tuesday, August 4, 2026, at 9:30 a.m. EDT to discuss 2026 second-quarter financial results.
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Morgan Stanley lowered the firm’s price target on MPLX (MPLX) to $60 from $62 and keeps an Equal Weight rating on the shares.
Barclays analyst Theresa Chen raised the firm’s price target on MPLX (MPLX) to $59 from $58 and keeps an Overweight rating on the shares. The firm sees an “increasingly constructive…
Projected from reported cash flow (SEC filings). The starting point is the latest yearly revenue times the median free cash flow margin of the last five years. Years 1 to 5 grow at the revenue growth rate of the last five years (between -5% and 15%), and years 6 to 10 slow down to the 2.5% perpetual growth rate. These are Studying Stocks' own estimates, not analyst forecasts, and are intended for educational purposes only as a baseline for the analysis.
| Year | FCF Estimate | % | Source |
|---|---|---|---|
| 2026 | 5.32B | 6.80% | Projected |
| 2027 | 5.68B | 6.80% | Projected |
| 2028 | 6.06B | 6.80% | Projected |
| 2029 | 6.48B | 6.80% | Projected |
| 2030 | 6.92B | 6.80% | Projected |
| 2031 | 7.33B | 5.94% | Projected |
| 2032 | 7.70B | 5.08% | Projected |
| 2033 | 8.02B | 4.22% | Projected |
| 2034 | 8.29B | 3.36% | Projected |
| 2035 | 8.50B | 2.50% | Projected |
Below are the FCF estimates with the discount factor and the calculated present value with the terminal value that led the results above.
| Year | FCF | Discount Factor | PV of Future FCF |
|---|---|---|---|
| 2024A | 4.89B | 1.00 | 4.89B |
| 2025A | 4.10B | 1.00 | 4.10B |
| 2026E | 5.32B | 1.08 | Login |
| 2027E | 5.68B | 1.16 | Login |
| 2028E | 6.06B | 1.25 | Login |
| 2029E | 6.48B | 1.34 | Login |
| 2030E | 6.92B | 1.45 | Login |
| 2031E | 7.33B | 1.56 | Login |
| 2032E | 7.70B | 1.68 | Login |
| 2033E | 8.02B | 1.81 | Login |
| 2034E | 8.29B | 1.94 | Login |
| 2035E | 8.50B | 2.09 | Login |
| Terminal | 2.09 | Login |
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