Murphy USA Inc. (MUSA) financial statements: income statement, balance sheet and cash flow
Murphy USA Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Murphy USA Inc. reported revenue of $19.4B (-4.2% year on year) and net income of $470.6M (-6.3% year on year).
Income statement
Murphy USA Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total operating revenues
$19.4B
$20.2B
$21.5B
$23.4B
Cost of goods sold
$17.0B
$17.9B
$19.2B
$21.0B
Store and other operating expenses
$1.1B
$1.1B
$1.0B
$976.5M
Depreciation and amortization
$276.8M
$248.0M
$228.7M
$220.4M
Impairment of properties
$5.3M
$8.2M
—
—
Selling, general and administrative
$231.5M
$235.4M
$240.5M
$232.5M
Restructuring expense
$12.6M
—
—
—
Accretion of asset retirement obligations
$3.4M
$3.2M
$3.0M
$2.7M
Total operating expenses
$18.7B
$19.5B
$20.7B
$22.5B
Gain (loss) on sale of assets
($2.8M)
($4.5M)
($800.0K)
$2.1M
Income (loss) from operations
$718.5M
$742.9M
$826.0M
$968.4M
Investment (income) loss
$200.0K
$6.4M
$6.9M
$3.0M
Interest expense
($110.9M)
($97.1M)
($98.5M)
($85.3M)
Other nonoperating income (expense)
$1.4M
($600.0K)
$0
($2.3M)
Total other income (expense)
($109.3M)
($91.3M)
($91.6M)
($84.6M)
Income before income taxes
$609.2M
$651.6M
$734.4M
$883.8M
Income tax expense (benefit)
$138.6M
$149.1M
$177.6M
$210.9M
Net Income
$470.6M
$502.5M
$556.8M
$672.9M
Basic (in dollars per share)
$24.38
$24.47
$25.91
$28.63
Diluted (in dollars per share)
$24.10
$24.11
$25.49
$28.10
Basic (in shares)
19.3M
20.5M
21.5M
23.5M
Diluted (in shares)
19.5M
20.8M
21.8M
23.9M
Includes excise taxes
$2.4B
$2.3B
$2.3B
$2.2B
Murphy USA Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total operating revenues
$6.8B
$4.8B
$5.1B
$5.0B
Cost of goods sold
$6.1B
$4.2B
$4.5B
$4.4B
Store and other operating expenses
$308.7M
$279.8M
$285.9M
$275.2M
Depreciation and amortization
$72.2M
$72.1M
$69.9M
$66.0M
Selling, general and administrative
$60.5M
$56.6M
$55.3M
$50.9M
Accretion of asset retirement obligations
$900.0K
$900.0K
$900.0K
$800.0K
Total operating expenses
$6.5B
$4.6B
$4.9B
$4.8B
Gain (loss) on sale of assets
$700.0K
$300.0K
$100.0K
$0
Income (loss) from operations
$304.9M
$205.2M
$201.8M
$219.2M
Investment income (expense)
$1.0M
$300.0K
$100.0K
$100.0K
Interest expense
($29.3M)
($29.0M)
($29.1M)
($27.8M)
Other nonoperating income (expense)
$1.0M
($300.0K)
$600.0K
$1.0M
Total other income (expense)
($27.3M)
($29.0M)
($28.4M)
($26.7M)
Income before income taxes
$277.6M
$176.2M
$173.4M
$192.5M
Income tax expense (benefit)
$68.5M
$39.9M
$43.5M
$46.9M
Net Income
$209.1M
$136.3M
$129.9M
$145.6M
Basic (in dollars per share)
$11.34
$7.36
$6.83
$7.44
Diluted (in dollars per share)
$11.27
$7.28
$6.76
$7.36
Basic (in shares)
18.4M
18.5M
19.0M
19.5M
Diluted (in shares)
18.6M
18.7M
19.2M
19.8M
Excise taxes
$604.4M
$565.0M
$613.9M
$599.5M
Balance sheet
Murphy USA Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$28.9M
$47.0M
$117.8M
$60.5M
Accounts receivable—trade, less allowance for doubtful accounts of $0.3 in 2025 and 2024, respectively
$276.2M
$268.5M
$336.7M
$281.7M
Inventories, at lower of cost or market
$413.0M
$401.6M
$341.2M
$319.1M
Prepaid expenses and other current assets
$29.7M
$31.0M
$23.7M
$47.6M
Total current assets
$747.8M
$748.1M
$826.5M
$726.8M
Property, plant and equipment, at cost less accumulated depreciation and amortization of $2,173.5 in 2025 and $1,931.4 in 2024, respectively
$3.0B
$2.8B
$2.6B
$2.5B
Operating lease right-of-use assets, net
$526.3M
$492.9M
$452.1M
$449.6M
Intangible assets, net of amortization
$139.3M
$139.5M
$139.8M
$140.4M
Goodwill
$328.0M
$328.0M
$328.0M
$328.0M
Other assets
$21.6M
$19.9M
$17.5M
$14.7M
Total assets
$4.7B
$4.5B
$4.3B
$4.1B
Current maturities of long-term debt
$19.0M
$15.7M
$15.0M
$15.0M
Trade accounts payable and accrued liabilities
$865.2M
$874.4M
$834.7M
$839.2M
Income taxes payable
$44.9M
$57.8M
$23.1M
—
Total current liabilities
$929.1M
$947.9M
$872.8M
$854.2M
Long-term debt, including capitalized lease obligations
$2.2B
$1.8B
$1.8B
$1.8B
Deferred income taxes
$388.5M
$343.4M
$329.5M
$327.4M
Asset retirement obligations
$52.5M
$49.1M
$46.1M
$43.3M
Non-current operating lease liabilities
$534.6M
$496.3M
$450.3M
$444.2M
Deferred credits and other liabilities
$34.0M
$32.1M
$27.8M
$21.5M
Total liabilities
$4.1B
$3.7B
$3.5B
$3.5B
Preferred Stock, par $0.01, (authorized 20,000,000 shares, none outstanding)
0
0
0
0
Common Stock, par $0.01, (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2025 and 2024, respectively)
500.0K
500.0K
500.0K
500.0K
Treasury stock (28,201,581 and 26,750,846 shares held at December 31, 2025 and 2024, respectively)
-4.0B
-3.4B
-3.0B
-2.6B
Additional paid in capital (APIC)
$482.4M
$487.5M
$508.1M
$518.9M
Retained earnings
$4.2B
$3.7B
$3.3B
$2.8B
Total stockholders' equity
$623.5M
$840.1M
$828.9M
$640.7M
Total liabilities and stockholders' equity
$4.7B
$4.5B
$4.3B
$4.1B
Murphy USA Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$175.4M
$118.6M
$42.8M
$54.1M
Accounts receivable—trade, less allowance for doubtful accounts of $0.4 and $0.3 at 2026 and 2025, respectively
$379.2M
$354.1M
$304.1M
$296.3M
Inventories, at lower of cost or market
$417.4M
$363.3M
$387.2M
$397.5M
Prepaid expenses and other current assets
$35.9M
$35.1M
$29.2M
$28.5M
Total current assets
$1.0B
$871.1M
$763.3M
$776.4M
Property, plant and equipment, at cost less accumulated depreciation and amortization of $2,313.4 and $2,173.5 at 2026 and 2025, respectively
$3.0B
$3.0B
$2.9B
$2.9B
Operating lease right of use assets, net
$539.1M
$523.7M
$507.6M
$503.2M
Intangible assets, net of amortization
$139.2M
$139.3M
$139.4M
$139.4M
Goodwill
$328.0M
$328.0M
$328.0M
$328.0M
Other assets
$33.9M
$23.1M
$21.0M
$20.7M
Total assets
$5.1B
$4.9B
$4.7B
$4.6B
Current maturities of long-term debt
$19.1M
$19.2M
$16.6M
$14.5M
Trade accounts payable and accrued liabilities
$1.0B
$1.0B
$869.2M
$915.9M
Income taxes payable
$55.6M
$12.0M
$54.4M
$45.7M
Total current liabilities
$1.1B
$1.0B
$940.2M
$976.1M
Long-term debt, including capitalized lease obligations
$2.2B
$2.1B
$2.2B
$2.1B
Deferred income taxes
$404.2M
$397.9M
$370.4M
$343.3M
Asset retirement obligations
$54.4M
$53.3M
$51.4M
$50.3M
Non-current operating lease liabilities
$549.4M
$532.6M
$513.9M
$508.4M
Deferred credits and other liabilities
$37.6M
$36.8M
$31.7M
$31.3M
Total liabilities
$4.3B
$4.2B
$4.1B
$4.0B
Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding)
0
0
0
0
Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at 2026 and 2025, respectively)
500.0K
500.0K
500.0K
500.0K
Treasury stock (28,386,817 and 28,201,581 shares held at 2026 and 2025, respectively)
-4.2B
-4.1B
-4.0B
-3.7B
Additional paid in capital (APIC)
$450.3M
$453.5M
$469.3M
$469.1M
Retained earnings
$4.5B
$4.3B
$4.0B
$3.9B
Total stockholders' equity
$782.7M
$658.7M
$546.0M
$646.1M
Total liabilities and stockholders' equity
$5.1B
$4.9B
$4.7B
$4.6B
Cash flow statement
Murphy USA Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$470.6M
$502.5M
$556.8M
$672.9M
Depreciation and amortization
$276.8M
$248.0M
$228.7M
$220.4M
Impairment of properties
$5.3M
$8.2M
—
—
Deferred and noncurrent income tax charges (benefits)
$45.1M
$14.0M
$2.0M
$31.5M
Restructuring expense, net of cash paid
$5.6M
—
—
—
Accretion of asset retirement obligations
$3.4M
$3.2M
$3.0M
$2.7M
Amortization of discount on marketable securities
$0
($200.0K)
($400.0K)
($100.0K)
(Gains) losses from sale of assets
$2.8M
$4.5M
$800.0K
($2.1M)
Net (increases) decrease in noncash operating working capital
($33.1M)
$32.8M
($42.1M)
$44.8M
Other operating activities - net
$37.4M
$34.6M
$35.2M
$24.6M
Net cash provided (required) by operating activities
$813.9M
$847.6M
$784.0M
$994.7M
Property additions
($439.6M)
($458.1M)
($335.6M)
($305.3M)
Proceeds from sale of assets
$2.4M
$2.0M
$2.4M
$8.8M
Investment in marketable securities
$0
$0
($12.8M)
($22.2M)
Redemptions of marketable securities
$0
$11.5M
$24.0M
—
Other investing activities - net
$1.2M
($1.2M)
($1.6M)
($600.0K)
Net cash provided (required) by investing activities
($436.0M)
($445.8M)
($323.6M)
($319.3M)
Purchase of treasury stock
($649.9M)
($445.7M)
($333.2M)
($806.4M)
Dividends paid
($41.5M)
($36.8M)
($33.4M)
($29.9M)
Borrowings of debt
$3.0B
$707.0M
$8.0M
$5.0M
Repayments of debt
($2.7B)
($666.7M)
($23.4M)
($20.2M)
Debt issuance costs
($9.0M)
—
$0
$0
Amounts related to share-based compensation
($23.5M)
($30.4M)
($21.1M)
($19.8M)
Net cash provided (required) by financing activities
($396.0M)
($472.6M)
($403.1M)
($871.3M)
Net increase (decrease) in cash, cash equivalents and restricted cash
($18.1M)
($70.8M)
$57.3M
($195.9M)
Cash, cash equivalents and restricted cash at January 1
$47.0M
$117.8M
$60.5M
$256.4M
Cash, cash equivalents and restricted cash at December 31
$28.9M
$47.0M
$117.8M
$60.5M
Murphy USA Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$345.4M
$136.3M
$328.7M
$198.8M
Depreciation and amortization
$144.3M
$72.1M
$204.1M
$134.2M
Deferred and noncurrent income tax charges (benefits)
$15.7M
$9.3M
$27.0M
($100.0K)
Restructuring expense, net of cash paid
($1.1M)
($200.0K)
$12.6M
—
Accretion of asset retirement obligations
$1.8M
$900.0K
$2.6M
$1.7M
(Gains) losses from sale of assets
($1.0M)
($300.0K)
$200.0K
$300.0K
Net (increase) decrease in noncash operating working capital
$44.4M
$95.1M
($26.2M)
$37.1M
Other operating activities - net
$5.5M
$6.8M
$19.4M
$11.6M
Net cash provided (required) by operating activities
$555.0M
$320.0M
$568.4M
$383.6M
Property additions
($210.0M)
($98.3M)
($322.9M)
($205.8M)
Proceeds from sale of assets
$700.0K
$200.0K
$2.3M
$1.8M
Other investing activities - net
$9.5M
($400.0K)
($600.0K)
($300.0K)
Net cash provided (required) by investing activities
($199.8M)
($98.5M)
($321.2M)
($204.3M)
Purchase of treasury stock
($152.8M)
($70.5M)
($583.0M)
($363.8M)
Dividends paid
($23.5M)
($11.7M)
($29.7M)
($19.6M)
Borrowings of debt
$1.3B
$590.0M
$2.5B
$1.8B
Repayments of debt
($1.3B)
($617.8M)
($2.1B)
($1.5B)
Debt issuance costs
($1.9M)
—
($9.0M)
($8.9M)
Amounts related to share-based compensation
($32.9M)
($21.8M)
($22.8M)
($19.2M)
Net cash provided (required) by financing activities
($208.7M)
($131.8M)
($251.4M)
($172.2M)
Net increase (decrease) in cash, cash equivalents, and restricted cash
$146.5M
$89.7M
($4.2M)
$7.1M
Cash, cash equivalents, and restricted cash at beginning of period
$28.9M
$28.9M
$47.0M
$47.0M
Cash, cash equivalents, and restricted cash at end of period