Start with its own history
At 12.31×, MRO is 7.6% above its 6-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · MROOil & Gas Exploration & ProductionUpdated Oct 15, 2026
Marathon Oil Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
12.31×
7.6% abovethe 6-observation annual average
Share price28.55
÷Earnings per share2.32
Price and EPS in quote currency. Calculation details
Investors are paying 12.31 for every 1 of reported earnings per share.
P/E over time
2014 – 2023
Annual P/ESelected-period average 11.44×
3-year average9.42×3 positive annual observations
5-year average12.82×4 positive annual observations
10-year average11.44×6 positive annual observations
Peer median · TTM9.17×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2023 | 9.44× | +83.7% |
| Dec 31, 2022 | 5.14× | -62.5% |
| Dec 31, 2021 | 13.68× | N/M |
| Dec 31, 2020 | N/M | N/M |
| Dec 31, 2019 | 23.02× | +108.7% |
| Dec 31, 2018 | 11.03× | N/M |
| Dec 31, 2017 | N/M | N/M |
| Dec 31, 2016 | N/M | N/M |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2015 | N/M | N/M |
| Dec 31, 2014 | 6.31× | -55.5% |
| Dec 31, 2013 | 14.18× | +3.6% |
| Dec 31, 2012 | 13.69× | +94.1% |
| Dec 31, 2011 | 7.05× | +9.4% |
| Dec 31, 2010 | 6.44× | -32.5% |
| Dec 31, 2009 | 9.55× | +175.3% |
| Dec 31, 2008 | 3.47× | -48.2% |
| Dec 31, 2007 | 6.69× | +67.9% |
| Dec 31, 2006 | 3.99× | -11.6% |
| Dec 31, 2005 | 4.51× | -28.8% |
| Dec 31, 2004 | 6.34× | +29.5% |
| Dec 31, 2003 | 4.89× | -39.5% |
| Dec 31, 2002 | 8.08× | -54.7% |
| Dec 31, 2001 | 17.83× | +38.7% |
| Dec 31, 2000 | 12.85× | +43.7% |
| Dec 31, 1999 | 8.94× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How MRO compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 MRO This stockMarathon Oil Corporation | 12.31× |
 MMPMagellan Midstream Partners, L.P. | 13.94× |
 CTRACoterra Energy Inc. | 14.94× |
 EXEExpand Energy Corporation | 7.98× |
 CEOCNOOC Limited | 6.84× |
 DCPDCP Midstream, LP | 8.26× |
 ERFEnerplus Corporation | 8.86× |
 CHRDChord Energy Corporation | 10.57× |
 DENDenbury Inc. | 9.49× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does MRO’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 9.17×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take MRO into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("MRO", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 28.55 ÷ EPS 2.32 = 12.31×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Oct 15, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
MRO P/E ratio: common questions
The essentials behind the numbers.
Marathon Oil Corporation's current P/E is 12.31× based on the quote data last updated Oct 15, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.