NYSE : MUSA
Murphy USA Inc. — Financial statements
Consumer Discretionary · Specialty Retail · United States
Last price 540 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.77B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Murphy USA Inc. (MUSA) reported revenue of 20.86B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 20.47B | 16.80B | 17.77B | 18.90B | 20.95B | 15.05B |
| Other Revenue | 391.90M | 217.40M | 137.70M | 335.70M | 312.80M | 272.00M |
| Revenue | 20.86B | 17.02B | 17.91B | 19.24B | 21.27B | 15.32B |
| Cost of Revenue | 19.26B | 15.70B | 16.61B | 17.88B | 19.79B | 14.25B |
| Gross Profit | 1.60B | 1.32B | 1.30B | 1.35B | 1.48B | 1.06B |
| Selling, General & Admin | 314.70M | 298.20M | 295.00M | 295.60M | 284.70M | 236.70M |
| Other Operating Expenses | 3.60M | 3.40M | 3.20M | 3.00M | 2.70M | 2.50M |
| Operating Expenses | 610.40M | 578.40M | 546.20M | 527.30M | 507.80M | 451.80M |
| Operating Income | 987.00M | 739.20M | 755.60M | 826.80M | 967.80M | 612.90M |
| Interest Expense | -115.30M | -110.90M | -97.10M | -98.50M | -85.30M | -82.40M |
| Interest & Investment Income | 3.20M | 200.00K | 6.40M | 6.90M | 3.00M | 100.00K |
| Other Non Operating Income (Expenses) | 800.00K | 1.40M | -600.00K | -2.30M | 200.00K | |
| EBT Excluding Unusual Items | 875.70M | 629.90M | 664.30M | 735.20M | 883.20M | 530.80M |
| Merger & Restructuring Charges | -12.60M | -1.50M | -10.40M | |||
| Gain (Loss) on Sale of Assets | -1.60M | -2.80M | -4.50M | -800.00K | 2.10M | 1.50M |
| Asset Writedown | -5.30M | -5.30M | -8.20M | |||
| Pretax Income | 868.80M | 609.20M | 651.60M | 734.40M | 883.80M | 521.90M |
| Income Tax Expense | 205.50M | 138.60M | 149.10M | 177.60M | 210.90M | 125.00M |
| Earnings From Continuing Operations | 663.30M | 470.60M | 502.50M | 556.80M | 672.90M | 396.90M |
| Net Income | 663.30M | 470.60M | 502.50M | 556.80M | 672.90M | 396.90M |
| Net Income to Common | 663.30M | 470.60M | 502.50M | 556.80M | 672.90M | 396.90M |
| Shares Outstanding (Basic) | 18.48M | 19.30M | 20.53M | 21.49M | 23.51M | 26.21M |
| Shares Outstanding (Diluted) | 18.63M | 19.53M | 20.84M | 21.84M | 23.95M | 26.60M |
| EPS (Basic) | 35.90 | 24.38 | 24.47 | 25.91 | 28.63 | 15.14 |
| EPS (Diluted) | 35.60 | 24.10 | 24.11 | 25.49 | 28.10 | 14.92 |
| Free Cash Flow | 667.50M | 374.30M | 389.50M | 448.40M | 689.40M | 462.70M |
| Free Cash Flow Per Share | 35.83 | 19.17 | 18.69 | 20.53 | 28.79 | 17.39 |
| Dividend Per Share | 2.55 | 2.15 | 1.79 | 1.55 | 1.27 | 1.04 |
| Gross Margin | 7.66% | 7.74% | 7.27% | 7.04% | 6.94% | 6.95% |
| Operating Margin | 4.73% | 4.34% | 4.22% | 4.30% | 4.55% | 4.00% |
| Profit Margin | 3.18% | 2.77% | 2.81% | 2.89% | 3.16% | 2.59% |
| Free Cash Flow Margin | 3.20% | 2.20% | 2.17% | 2.33% | 3.24% | 3.02% |
| EBITDA | 1.28B | 1.02B | 1.01B | 1.06B | 1.19B | 828.00M |
| EBITDA Margin | 6.15% | 5.99% | 5.62% | 5.50% | 5.60% | 5.41% |
| D&A For EBITDA | 295.70M | 280.20M | 251.20M | 231.70M | 223.10M | 215.10M |
| EBIT | 987.00M | 739.20M | 755.60M | 826.80M | 967.80M | 612.90M |
| EBIT Margin | 4.73% | 4.34% | 4.22% | 4.30% | 4.55% | 4.00% |
| Effective Tax Rate | 23.65% | 22.75% | 22.88% | 24.18% | 23.86% | 23.95% |
| Revenue as Reported | 23.26B | 19.38B | 20.24B | 21.53B | 23.45B | 17.36B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 161.80M | 28.90M | 47.00M | 117.80M | 60.50M | 256.40M |
| Short-Term Investments | 34.20M | 7.10M | 17.90M | |||
| Cash & Short-Term Investments | 196.00M | 28.90M | 47.00M | 124.90M | 78.40M | 256.40M |
| Receivables | 377.90M | 276.20M | 268.50M | 336.70M | 281.70M | 195.70M |
| Inventory | 397.80M | 413.00M | 401.60M | 341.20M | 319.10M | 292.30M |
| Prepaid Expenses | 38.30M | 29.70M | 30.60M | 22.10M | 47.60M | 22.80M |
| Other Current Assets | 600.00K | 400.00K | 1.60M | 600.00K | ||
| Total Current Assets | 1.01B | 747.80M | 748.10M | 826.50M | 726.80M | 767.80M |
| Property, Plant & Equipment | 3.67B | 3.49B | 3.31B | 3.02B | 2.91B | 2.80B |
| Long-Term Investments | 4.40M | 4.40M | ||||
| Goodwill | 328.00M | 328.00M | 328.00M | 328.00M | 328.00M | 328.00M |
| Other Intangible Assets | 139.20M | 139.30M | 139.50M | 139.80M | 140.40M | 140.70M |
| Other Long-Term Assets | 32.50M | 21.60M | 19.90M | 17.50M | 14.70M | 14.10M |
| Total Assets | 5.18B | 4.73B | 4.54B | 4.34B | 4.12B | 4.05B |
| Accounts Payable | 1.03B | 477.50M | 518.00M | 505.40M | 547.60M | 392.50M |
| Accrued Expenses | 321.10M | 297.60M | 272.80M | 236.20M | 217.70M | |
| Current Portion of Long-Term Debt | 6.00M | 6.00M | 4.00M | 4.00M | 4.00M | 4.00M |
| Current Portion of Leases | 41.50M | 38.80M | 35.40M | 33.10M | 31.50M | 29.10M |
| Current Income Taxes Payable | 82.20M | 44.90M | 57.80M | 23.10M | ||
| Other Current Liabilities | 40.80M | 35.10M | 34.40M | 34.90M | 32.00M | |
| Total Current Liabilities | 1.16B | 929.10M | 947.90M | 872.80M | 854.20M | 675.30M |
| Long-Term Debt | 2.07B | 2.06B | 1.72B | 1.67B | 1.67B | 1.67B |
| Long-Term Leases | 663.70M | 640.10M | 604.30M | 566.00M | 566.80M | 539.50M |
| Long-Term Deferred Tax Liabilities | 406.60M | 388.50M | 343.40M | 329.50M | 327.40M | 295.90M |
| Other Long-Term Liabilities | 91.80M | 86.50M | 81.20M | 73.90M | 64.80M | 60.80M |
| Total Liabilities | 4.39B | 4.10B | 3.70B | 3.51B | 3.48B | 3.24B |
| Common Stock | 500.00K | 500.00K | 500.00K | 500.00K | 500.00K | 500.00K |
| Additional Paid-In Capital | 454.50M | 482.40M | 487.50M | 508.10M | 518.90M | 534.80M |
| Retained Earnings | 4.66B | 4.17B | 3.74B | 3.28B | 2.76B | 2.11B |
| Treasury Stock | -4.32B | -4.03B | -3.39B | -2.96B | -2.63B | -1.84B |
| Comprehensive Income & Other | -100.00K | -500.00K | -1.20M | |||
| Shareholders' Equity | 793.80M | 623.50M | 840.10M | 828.90M | 640.70M | 807.20M |
| Total Liabilities & Equity | 5.18B | 4.73B | 4.54B | 4.34B | 4.12B | 4.05B |
| Total Debt | 2.78B | 2.74B | 2.37B | 2.27B | 2.27B | 2.24B |
| Net Cash (Debt) | -2.58B | -2.71B | -2.32B | -2.14B | -2.19B | -1.99B |
| Net Cash Per Share | -138.63 | -139.00 | -111.38 | -98.10 | -91.39 | -74.64 |
| Filing Date Shares Outstanding | 18.10M | 18.54M | 20.02M | 20.81M | 21.70M | 24.83M |
| Total Common Shares Outstanding | 18.10M | 18.57M | 20.02M | 20.84M | 21.75M | 24.94M |
| Working Capital | -146.90M | -181.30M | -199.80M | -46.30M | -127.40M | 92.50M |
| Book Value Per Share | 43.86 | 33.58 | 41.97 | 39.78 | 29.46 | 32.37 |
| Tangible Book Value | 326.60M | 156.20M | 372.60M | 361.10M | 172.30M | 338.50M |
| Tangible Book Value Per Share | 18.04 | 8.41 | 18.61 | 17.33 | 7.92 | 13.58 |
| Land | 709.40M | 674.60M | 655.70M | 645.20M | 639.40M | |
| Buildings | 75.70M | 75.40M | 74.90M | 71.00M | 70.70M | |
| Machinery | 3.82B | 3.50B | 3.14B | 2.90B | 2.66B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 663.30M | 470.60M | 502.50M | 556.80M | 672.90M | 396.90M |
| Depreciation & Amortization | 295.70M | 280.20M | 251.20M | 231.70M | 223.10M | 215.10M |
| Loss (Gain) From Sale of Assets | 1.60M | 2.80M | 4.50M | 800.00K | -2.10M | -1.50M |
| Asset Writedown & Restructuring Costs | -3.50M | 10.90M | 8.20M | |||
| Loss (Gain) From Sale of Investments | -100.00K | -200.00K | -400.00K | -100.00K | ||
| Other Operating Activities | 68.50M | 82.50M | 48.60M | 37.20M | 56.10M | 44.10M |
| Change in Accounts Receivable | -74.10M | -8.10M | 65.40M | -56.30M | -84.70M | -18.90M |
| Change in Inventory | -10.60M | -11.40M | -60.20M | -22.10M | -26.90M | 11.10M |
| Change in Accounts Payable | 188.50M | -4.30M | -3.90M | -12.00M | 180.10M | 102.90M |
| Change in Income Taxes | 27.80M | -12.90M | 34.60M | 23.10M | -8.70M | |
| Change in Other Net Operating Assets | -8.50M | 3.60M | -3.10M | 25.20M | -23.70M | -3.60M |
| Operating Cash Flow | 1.15B | 813.90M | 847.60M | 784.00M | 994.70M | 737.40M |
| Capital Expenditures | -481.10M | -439.60M | -458.10M | -335.60M | -305.30M | -274.70M |
| Sale of Property, Plant & Equipment | 1.80M | 2.40M | 2.00M | 2.40M | 8.80M | 3.40M |
| Cash Acquisitions | -641.10M | |||||
| Investment in Securities | -34.20M | 11.50M | 11.20M | -22.20M | ||
| Other Investing Activities | 12.50M | 1.20M | -1.20M | -1.60M | -600.00K | -1.80M |
| Investing Cash Flow | -501.00M | -436.00M | -445.80M | -323.60M | -319.30M | -914.20M |
| Long-Term Debt Issued | 2.98B | 707.00M | 8.00M | 5.00M | 892.80M | |
| Long-Term Debt Repaid | -2.65B | -666.70M | -23.40M | -20.20M | -224.30M | |
| Net Debt Issued (Repaid) | -68.10M | 327.90M | 40.30M | -15.40M | -15.20M | 668.50M |
| Repurchase of Common Stock | -375.90M | -649.90M | -445.70M | -333.20M | -806.40M | -355.00M |
| Common Dividends Paid | -47.20M | -41.50M | -36.80M | -33.40M | -29.90M | -27.30M |
| Other Financing Activities | -37.40M | -32.50M | -30.40M | -21.10M | -19.80M | -16.60M |
| Financing Cash Flow | -528.60M | -396.00M | -472.60M | -403.10M | -871.30M | 269.60M |
| Net Cash Flow | 119.00M | -18.10M | -70.80M | 57.30M | -195.90M | 92.80M |
| Free Cash Flow | 667.50M | 374.30M | 389.50M | 448.40M | 689.40M | 462.70M |
| Free Cash Flow Margin | 3.20% | 2.20% | 2.17% | 2.33% | 3.24% | 3.02% |
| Free Cash Flow Per Share | 35.83 | 19.17 | 18.69 | 20.53 | 28.79 | 17.39 |
| Levered Free Cash Flow | 506.51M | 219.89M | 300.86M | 336.89M | 524.86M | 406.66M |
| Unlevered Free Cash Flow | 578.58M | 289.20M | 361.55M | 398.45M | 578.17M | 458.16M |
| Cash Interest Paid | 107.60M | 105.10M | 93.10M | 92.30M | 81.60M | 70.80M |
| Cash Income Tax Paid | 141.60M | 101.00M | 109.50M | 128.00M | 199.70M | 120.40M |
| Change in Working Capital | 123.10M | -33.10M | 32.80M | -42.10M | 44.80M | 82.80M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.29B | 7.56B | 10.16B | 7.59B | 6.32B | 5.11B |
| Enterprise Value | 11.87B | 10.30B | 12.45B | 9.72B | 8.40B | 7.04B |
| Last Close Price | 513.00 | 401.95 | 497.13 | 351.90 | 274.49 | 194.65 |
| PE Ratio | 14.41 | 16.06 | 20.22 | 13.62 | 9.39 | 12.87 |
| Forward PE | 17.29 | 16.13 | 18.73 | 13.71 | 13.31 | 17.45 |
| PS Ratio | 0.45 | 0.44 | 0.57 | 0.39 | 0.30 | 0.33 |
| PB Ratio | 11.70 | 12.12 | 12.09 | 9.15 | 9.86 | 6.33 |
| P/TBV Ratio | 28.43 | 48.40 | 27.27 | 21.01 | 36.66 | 15.09 |
| P/FCF Ratio | 13.91 | 20.20 | 26.09 | 16.92 | 9.16 | 11.04 |
| P/OCF Ratio | 8.08 | 9.29 | 11.99 | 9.68 | 6.35 | 6.93 |
| PEG Ratio | 1.99 | 17.79 | 18.73 | 0.47 | 0.63 | 2.94 |
| EV/Sales Ratio | 0.57 | 0.60 | 0.69 | 0.51 | 0.40 | 0.46 |
| EV/EBITDA Ratio | 9.25 | 10.10 | 12.37 | 9.18 | 7.05 | 8.50 |
| EV/EBIT Ratio | 12.02 | 13.93 | 16.48 | 11.76 | 8.68 | 11.48 |
| EV/FCF Ratio | 17.78 | 27.51 | 31.97 | 21.67 | 12.18 | 15.21 |
| Debt / Equity Ratio | 3.50 | 4.40 | 2.82 | 2.74 | 3.54 | 2.78 |
| Debt / EBITDA Ratio | 2.04 | 2.51 | 2.21 | 2.03 | 1.82 | 2.56 |
| Debt / FCF Ratio | 4.16 | 7.33 | 6.08 | 5.07 | 3.29 | 4.85 |
| Net Debt / Equity Ratio | 3.25 | 4.35 | 2.76 | 2.58 | 3.42 | 2.46 |
| Net Debt / EBITDA Ratio | 2.01 | 2.66 | 2.31 | 2.02 | 1.84 | 2.40 |
| Net Debt / FCF Ratio | 3.87 | 7.25 | 5.96 | 4.78 | 3.17 | 4.29 |
| Asset Turnover | 4.23 | 3.67 | 4.03 | 4.55 | 5.21 | 4.55 |
| Inventory Turnover | 49.08 | 38.55 | 44.72 | 54.17 | 64.74 | 49.89 |
| Quick Ratio | 0.50 | 0.33 | 0.33 | 0.53 | 0.42 | 0.67 |
| Current Ratio | 0.87 | 0.81 | 0.79 | 0.95 | 0.85 | 1.14 |
| Return on Equity (ROE) | 99.02% | 64.31% | 60.22% | 75.78% | 92.95% | 49.88% |
| Return on Assets (ROA) | 12.52% | 9.97% | 10.63% | 12.21% | 14.80% | 11.38% |
| Return on Invested Capital (ROIC) | 22.34% | 17.57% | 18.99% | 21.58% | 26.19% | 20.42% |
| Return on Capital Employed (ROCE) | 24.50% | 19.50% | 21.00% | 23.80% | 29.60% | 18.20% |
| Earnings Yield | 6.94% | 6.22% | 4.95% | 7.34% | 10.65% | 7.77% |
| FCF Yield | 7.19% | 4.95% | 3.83% | 5.91% | 10.91% | 9.06% |
| Dividend Yield | 0.56% | 0.53% | 0.35% | 0.43% | 0.44% | 0.51% |
| Payout Ratio | 7.42% | 8.82% | 7.32% | 6.00% | 4.44% | 6.88% |
| Buyback Yield / Dilution | 6.54% | 6.31% | 4.58% | 8.80% | 9.98% | 9.90% |
| Total Shareholder Return | 7.11% | 6.84% | 4.94% | 9.22% | 10.41% | 10.40% |