Flagship explainer

What drives MURPHY USA INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity64%Tax burden77%net income ÷ pretax incomeInterest burden85%pretax ÷ operating incomeOperating margin4%operating income ÷ revenueAsset turnover4.18×revenue ÷ average assetsEquity multiplier6.33×average assets ÷ average equityAs of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$471MFY2025
Income before tax$609MFY2025
Operating income$719MFY2025
$19.4BFY2025
Ending assets$4.7BFY2025
Beginning assets$4.5BFY2024
$624MFY2025
$840MFY2024
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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