MUSA

MKT CAP:$10B

Murphy USA Inc.

Market Cap

$10B

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Specialty Retail·🇺🇸·NYSE

Stock Price

$532.76+$127.43 (+31.44%)

Apr 23, 2026

Company Details

Murphy USA Inc. engages in marketing of retail motor fuel products and convenience merchandise. The company operates retail stores under the Murphy USA, Murphy Express, and QuickChek brands. As of December 31, 2021, it operated 1,679 retail...

CEO

Malynda K. West

IPO Date

Aug 19, 2013

Website

www.murphyusa.com

Key Metrics TTM

Revenue

$19.4B

-4.2% YoY

Net Income

$471M

EPS (Diluted)

$24.28

Free Cash Flow

$374M

Revenue / Share

$1,029.04

Gross Margin

5.0%

Operating Margin

3.8%

Net Margin

2.4%

FCF Margin

1.9%

P/S

0.5x

P/E

21.0x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 18, 2026

$19.4B-4.2%EPS $24.10

Q4 2025

Feb 18, 2026

$4.7B+0.7%EPS $7.53

Q3 2025

Oct 30, 2025

$5.1B-2.5%EPS $6.76

Q2 2025

Jul 31, 2025

$5.0B-8.2%EPS $7.36

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$5.1B	$546M	$221M
Q2 22	$6.8B	$621M	$262M
Q3 22	$6.2B	$674M	$312M
Q4 22	$5.4B	$559M	$174M
Q1 23	$5.1B	$518M	$163M
Q2 23	$5.6B	$573M	$199M
Q3 23	$5.8B	$5.5B	$247M
Q4 23	$5.1B	$592M	$217M
Q1 24	$4.8B	$479M	$105M
Q2 24	$5.5B	$608M	$217M
Q3 24	$5.2B	$622M	$222M
Q4 24	$4.7B	$599M	$199M
Q1 25	$4.5B	$484M	$88M
Q2 25	$5.0B	$270M	$219M
Q3 25	$5.1B	$340M	$202M
Q4 25	$4.7B	-$123M	$230M

Valuation

Quarter	P/S	P/E
Q1 22	0.3x	9.9x
Q2 22	0.3x	10.5x
Q3 22	0.3x	9.5x
Q4 22	0.2x	8.6x
Q1 23	0.2x	9.0x
Q2 23	0.3x	11.5x
Q3 23	0.3x	14.0x
Q4 23	0.4x	14.2x
Q1 24	0.4x	17.1x
Q2 24	0.4x	17.9x
Q3 24	0.5x	19.5x
Q4 24	0.5x	20.1x
Q1 25	0.5x	19.1x
Q2 25	0.4x	16.5x
Q3 25	0.4x	16.4x
Q4 25	0.4x	16.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$339M	$275M
Q2 22	$177M	$96M
Q3 22	$255M	$177M
Q4 22	$223M	$141M
Q1 23	$150M	$77M
Q2 23	$171M	$99M
Q3 23	$190M	$111M
Q4 23	$273M	$162M
Q1 24	$136M	$60M
Q2 24	$261M	$143M
Q3 24	$202M	$65M
Q4 24	$249M	$122M
Q1 25	$129M	$41M
Q2 25	$255M	$137M
Q3 25	$185M	$68M
Q4 25	$246M	$129M

Capital Expenditures

Quarter	CapEx
Q1 22	$64M
Q2 22	$81M
Q3 22	$78M
Q4 22	$82M
Q1 23	$73M
Q2 23	$73M
Q3 23	$79M
Q4 23	$111M
Q1 24	$76M
Q2 24	$118M
Q3 24	$137M
Q4 24	$127M
Q1 25	$88M
Q2 25	$118M
Q3 25	$117M
Q4 25	$117M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+44.7%	+42.3%
Q2 22	+51.9%	+52.5%
Q3 22	+34.7%	+32.4%
Q4 22	+12.6%	+12.7%
Q1 23	-0.8%	+0.3%
Q2 23	-17.5%	-17.2%
Q3 23	-6.4%	-5.6%
Q4 23	-5.5%	-6.6%
Q1 24	-4.6%	-3.6%
Q2 24	-2.4%	-2.8%
Q3 24	-9.6%	-9.6%
Q4 24	-7.1%	-7.0%
Q1 25	-6.6%	-6.4%
Q2 25	-8.2%	-8.6%
Q3 25	-2.5%	-2.2%
Q4 25	+0.7%	+0.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	-$2M	-0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	-$700.0K	-0.0%

OpEx Breakdown

Quarter	SG&A
Q1 22	$46M
Q2 22	$52M
Q3 22	$52M
Q4 22	$82M
Q1 23	$59M
Q2 23	$59M
Q3 23	$60M
Q4 23	$62M
Q1 24	$62M
Q2 24	$59M
Q3 24	$60M
Q4 24	$54M
Q1 25	$60M
Q2 25	$51M
Q3 25	$55M
Q4 25	$65M

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$356M	$0	$356M
Q2 22	$240M	$0	$240M
Q3 22	$193M	$0	$193M
Q4 22	$61M	$18M	$78M
Q1 23	$102M	$14M	$116M
Q2 23	$93M	$13M	$106M
Q3 23	$125M	$9M	$133M
Q4 23	$118M	$7M	$125M
Q1 24	$57M	$6M	$63M
Q2 24	$80M	$5M	$84M
Q3 24	$53M	$2M	$54M
Q4 24	$47M	$0	$47M
Q1 25	$49M	$0	$49M
Q2 25	$54M	$0	$54M
Q3 25	$43M	$0	$43M
Q4 25	$29M	$0	$29M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	25M	-2.6%	-8.8%
Q2 22	24M	-2.9%	-9.6%
Q3 22	24M	-2.8%	-9.6%
Q4 22	23M	-4.4%	-12.2%
Q1 23	22M	-2.1%	-11.7%
Q2 23	22M	-0.4%	-9.4%
Q3 23	22M	-1.2%	-7.9%
Q4 23	21M	-1.7%	-5.2%
Q1 24	21M	-1.2%	-4.4%
Q2 24	21M	-1.1%	-5.1%
Q3 24	21M	-0.9%	-4.8%
Q4 24	20M	-1.3%	-4.5%
Q1 25	20M	-1.2%	-4.5%
Q2 25	20M	-1.1%	-4.5%
Q3 25	19M	-3.8%	-7.2%
Q4 25	19M	-2.1%	-7.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$350.2K	15K
Q2 22	$463.0K	15K
Q3 22	$423.9K	15K
Q4 22	$355.4K	15K
Q1 23	$336.2K	15K
Q2 23	$369.9K	15K
Q3 23	$384.0K	15K
Q4 23	$324.9K	16K
Q1 24	$310.5K	16K
Q2 24	$349.5K	16K
Q3 24	$335.8K	16K
Q4 24	$273.9K	17K
Q1 25	$263.1K	17K
Q2 25	$291.0K	17K
Q3 25	$297.1K	17K
Q4 25	$280.7K	17K

Revenue / Employee