Murphy USA Inc. (MUSA) Income Statement
MUSA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMUSA revenue and net income
Where MUSA's revenue goes
2025Each bar shows an amount and its share of revenue. MUSA kept 2.4% of revenue as net income.
MUSA profit margins
MUSA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −4.2% | −6.1% | +11.5% | +4.3% |
| Gross profit | −57.9% | −26.0% | −7.6% | +0.1% |
| Operating income | −0.5% | −8.6% | +5.7% | +11.2% |
| Net income | −6.3% | −11.2% | +4.0% | +10.3% |
| EPS (diluted) | −0.4% | −4.3% | +13.4% | +19.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MUSA quarterly EPS vs estimates
Murphy USA beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 28, 2026 (estimate $8.53).
MUSA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.38B | $20.24B | $21.53B | $23.45B | $17.36B | $11.26B | $14.03B | $14.36B | $12.83B | $11.59B |
| Cost of revenue | $18.41B | $17.94B | $19.22B | $21.05B | $15.51B | $9.82B | $12.91B | $13.27B | $11.76B | $10.58B |
| Gross profit | $970.7M | $2.31B | $2.31B | $2.40B | $1.85B | $1.44B | $1.13B | $1.09B | $1.06B | $1.02B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $231.5M | $235.4M | $260.1M | $232.5M | $193.6M | $171.1M | $144.6M | $136.2M | $141.2M | $122.7M |
| Total operating expenses | $231.5M | $1.56B | $1.49B | $1.43B | $1.24B | $883.9M | $858.2M | $813.5M | $774.8M | $716.2M |
| Operating income | $739.2M | $742.9M | $826.0M | $968.4M | $604.0M | $559.0M | $268.5M | $325.1M | $283.3M | $299.9M |
| Interest income | — | — | — | $3.0M | $100,000 | $1.0M | $3.2M | $1.5M | $1.3M | $578,000 |
| Interest expense | $110.9M | $97.1M | $98.5M | $86.2M | $82.4M | $51.2M | $54.9M | $52.9M | $46.7M | $39.7M |
| Income before taxes | $609.2M | $651.6M | $734.4M | $883.8M | $521.9M | $509.1M | $202.4M | $273.9M | $240.0M | $352.0M |
| Income taxes | $138.6M | $149.1M | $177.6M | $210.9M | $125.0M | $123.0M | $47.6M | $60.3M | −$5.2M | $130.5M |
| Net income | $470.6M | $502.5M | $556.8M | $672.9M | $396.9M | $386.1M | $154.8M | $213.6M | $245.3M | $221.5M |
| EBITDA | $1.00B | $996.7M | $1.06B | $1.19B | $819.4M | $722.7M | $411.6M | $462.8M | $405.4M | $492.0M |
| EPS (diluted) | $24.63 | $24.74 | $25.51 | $28.14 | $15.29 | $13.14 | $5.29 | $5.45 | $4.41 | $4.22 |
| Gross margin | 5.0% | 11.4% | 10.7% | 10.2% | 10.7% | 12.8% | 8.0% | 7.6% | 8.3% | 8.8% |
| Operating margin | 3.8% | 3.7% | 3.8% | 4.1% | 3.5% | 5.0% | 1.9% | 2.3% | 2.2% | 2.6% |
| Net margin | 2.4% | 2.5% | 2.6% | 2.9% | 2.3% | 3.4% | 1.1% | 1.5% | 1.9% | 1.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.81B | $4.82B | $4.74B | $5.11B | $5.00B | $4.53B | $4.71B | $5.24B | $5.45B | $4.84B | $5.07B | $5.80B |
| Cost of revenue | $6.06B | $4.56B | $4.46B | $4.84B | $4.73B | $4.38B | $4.11B | $4.62B | $4.84B | $4.37B | $4.48B | $265.6M |
| Gross profit | $746.5M | $261.5M | $282.6M | $269.6M | $270.1M | $148.4M | $599.0M | $621.7M | $607.6M | $478.5M | $591.5M | $5.53B |
| Sales, general & admin | $60.5M | $56.6M | $65.2M | $55.3M | $50.9M | $60.1M | $54.2M | $60.0M | $59.1M | $62.1M | $62.1M | $60.0M |
| Total operating expenses | $441.6M | $56.6M | $65.2M | $55.3M | $50.9M | $60.1M | $400.0M | $400.1M | $390.5M | $373.3M | $374.3M | $5.28B |
| Operating income | $304.9M | $204.9M | $217.4M | $214.3M | $219.2M | $88.3M | $199.0M | $221.6M | $217.1M | $105.2M | $217.2M | $247.3M |
| Interest expense | $29.3M | $29.0M | $28.6M | $29.1M | $27.8M | $25.4M | $22.9M | $24.4M | $24.9M | $24.9M | $24.0M | $24.6M |
| Income before taxes | $277.6M | $176.2M | $181.4M | $173.4M | $192.5M | $61.9M | $177.8M | $198.7M | $193.2M | $81.9M | $196.3M | $223.4M |
| Income taxes | $68.5M | $39.9M | $39.5M | $43.5M | $46.9M | $8.7M | $35.3M | $49.5M | $48.4M | $15.9M | $46.3M | $55.7M |
| Net income | $209.1M | $136.3M | $141.9M | $129.9M | $145.6M | $53.2M | $142.5M | $149.2M | $144.8M | $66.0M | $150.0M | $167.7M |
| EBITDA | $379.1M | $277.3M | $283.5M | $273.3M | $287.1M | $155.5M | $268.7M | $286.7M | $278.2M | $166.3M | $278.1M | $306.2M |
| EPS (diluted) | $11.27 | $7.28 | $7.88 | $6.76 | $7.36 | $2.63 | $7.50 | $7.20 | $6.92 | $3.12 | $7.00 | $7.69 |
| Gross margin | 11.0% | 5.4% | 6.0% | 5.3% | 5.4% | 3.3% | 12.7% | 11.9% | 11.1% | 9.9% | 11.7% | 95.4% |
| Operating margin | 4.5% | 4.3% | 4.6% | 4.2% | 4.4% | 2.0% | 4.2% | 4.2% | 4.0% | 2.2% | 4.3% | 4.3% |
| Net margin | 3.1% | 2.8% | 3.0% | 2.5% | 2.9% | 1.2% | 3.0% | 2.8% | 2.7% | 1.4% | 3.0% | 2.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MUSA's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MUSA financial results
In fiscal year 2025 (ended December 31, 2025), Murphy USA reported revenue of $19.4 billion, down 4.2% from the year before. It had net income of $470.6 million (down 6.3%), a net profit margin of 2.4%. Diluted earnings per share came to $24.63. Over five years revenue grew at an average rate of 11.5% a year.
See the MUSA stock overview for the latest quote and news, or the MUSA chart for price history and technical indicators.
MUSA income statement FAQ
What is Murphy USA's annual revenue?
Murphy USA reported total revenue of $19.4 billion for fiscal year 2025, which ended on December 31, 2025. That was down 4.2% from $20.2 billion the previous year.
Is Murphy USA profitable?
Yes. Murphy USA reported net income of $470.6 million in fiscal 2025, a net profit margin of 2.4%; its operating margin was 3.8%.
What is Murphy USA's gross margin?
Murphy USA's gross margin was 5.0% in fiscal 2025: for every $100 of revenue, Murphy USA kept $5 after the direct cost of its products and services.
How fast is Murphy USA growing?
Revenue grew 11.5% a year on average over the last five fiscal years, from $11.3 billion to $19.4 billion.
What are Murphy USA's earnings per share?
Murphy USA earned $24.63 per diluted share in fiscal 2025, compared with $24.74 a year earlier.
When will Murphy USA report its next earnings?
Murphy USA is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does Murphy USA's fiscal year end?
Murphy USA's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.