Is Marathon Petroleum Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Marathon Petroleum Corp. has moved from very expensive to fair. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 26, an EV to EBITDA of 16.80, and a Price to Book Value of 6.53. In comparison, peers such as Phillips 66 have a significantly higher P/E ratio of 57.54, while Valero Energy Corp. also shows an elevated P/E of 45.76, indicating that Marathon Petroleum is relatively more attractively priced within its industry.
In terms of recent performance, Marathon Petroleum has outperformed the S&P 500 on a year-to-date basis, returning 32.24% compared to the index's 13.30%. This strong performance, combined with its fair valuation, suggests that the stock is positioned well in the current market environment.